One of our top investment destinations is poised to break out and run higher. Do you own it?

Today’s issue in preview:

• One of our top investment destinations is poised to break out and run higher. Do you own it?

• Is the mainstream media full of it? The strong price action in shopping mall stocks says “yes”

• The big AI infrastructure trade nobody is talking about

• Our Brazil and Space Trade recommendations continue to pay off

Is the mainstream media full of it? The strong price action in shopping mall stocks says “yes”

Credit: IGphotography

Last Sunday, U.S. Vice President J.D. Vance returned from the Middle East with no peace deal secured with Iran. Soon after, the U.S. Navy’s blockade of Iranian ports went into effect. The White House has said a second round of negotiations between the U.S. and Iran will happen soon.

In other words, the Iranian situation is still a wild card for investors. One aggressive strike by Iran could trigger chaos.

This means one of the world’s most important financial debates continues to rage. The outcome of the situation being debated has huge consequences for your portfolio and the economy.

You could call this debate the “The Doomers vs. The Optimists.”

The Doomers say Epic Fury’s constriction of critical Middle Eastern resources such as oil, natural gas, fertilizer, sulfuric acid, and helium will lead to serious economic disruption and then a recession and then a bear market.

The Optimists say those concerns are overblown… a diplomatic solution is on the way… and the economy and stock market will continue growing.

Right now, we can say the market is clearly siding with the Optimists.

As evidence, I present the incredible strength in U.S. shopping mall and shopping center stocks. As you read this, the U.S. economy is so strong… and its consumer base is spending with such enthusiasm… that stocks of many giants of American shopping – Simon Property Group (SPG), Macerich (MAC), Tanger Inc. (SKT), Kimco Realty (KIM), Regency Centers (REG), and Brixmor Property Group (BRX) – reached new one-year highs this week or are on the verge of doing so.

• With a market cap of $65 billion, Simon Property Group is the largest shopping mall operator in America. It operates over 200 malls across the country.

• Macerich is a fellow large shopping mall operator. It focuses on high-end shopping centers like Washington D.C.’s famous Tyson’s Corner Center.

• Tanger Inc. is another shopping giant, but with a focus on outlet malls. It’s one of the largest businesses of its kind.

• Kimco, Regency, and Brixmor are giants in the “open-air shopping center” business.

Collectively, these six companies operate a huge portion of America’s shopping centers. This means their fortunes rise and fall with the consumer’s capacity and propensity to blow $1,000 at the mall. This week, Simon, Macerich, Kimco, and Regency reached new one-year highs. Tanger and Brixmor are both very close to new one-year highs. It’s impressive, industry-wide success.

Many investors obsess over government data such as unemployment figures, job hirings, and the Consumer Price Index. I like to know that data as everyone else does. However, when I want a read on what’s really happening in the economy, I place far greater focus on what’s happening in the real world.

I look at stock prices. In doing this, I listen to the judge, jury, and executioner of any thesis, any trend, and any claim: The market.

The stock market is the world’s greatest forecasting mechanism. It tends to look ahead 6-12 months. When an industry is in a recession, its stock prices will rise before the news media announces it is recovering. When an industry seems to be doing well, its stock prices will decline before the news covers its downturn. This is often called “discounting” or “pricing in” the future.

The broad-based strength in the shopping mall/shopping center group is a signal from the market that the Optimist view on Epic Fury is winning the day.

It’s also a signal that the global economy is doing far better than most people think… and that the American consumer is doing far better than the mainstream media and pessimists would have you believe.

If all you did was listen to the mainstream media, you’d think the world is on fire and the economy is in shambles. But keep in mind, the mainstream media is a for-profit business like any other. It chases clicks and profits. That means running scary stories it knows people will click on. It’s not the media’s fault. It’s the media’s customers’ fault.

Fixating on potential dangers is a useful survival instinct. It’s how our ancestors survived a million years ago. Back then, an unusual noise coming from behind a bush could mean a tiger is about to attack you. These days, we don’t need to worry about tiger attacks, but our old survival instincts still dictate our actions. We still fixate on potential dangers. That’s why we are compelled to click on scary headlines and apocalyptic forecasts. The mainstream media is happy to produce them and profit.

So, go ahead and click on those scary stories. Satisfy your survival instincts. But don’t forget about what the stock market is saying about the economy. It knows a hell of a lot more about what’s going on than your average journalist. Right now, the market says the shopping mall is doing great. Conduct investment activities accordingly!

The big AI infrastructure trade nobody is talking about

Credit: Oselote

Last month, leading AI firm OpenAI raised $122 billion from investors at a colossal valuation of $852 billion. It was the largest private capital raise in Silicon Valley history. For context, three years ago OpenAI was valued at $28 billion. Today, it would be the 11th largest company in the S&P 500.

To say OpenAI now has a “war chest” of cash for developing AI is an understatement. It has a hundred war chests of cash. It has Amazon-sized rivers of cash it can direct into AI infrastructure and AI model development.

This cash will be deployed in the largest collective investment effort in all recorded history. As we’ve covered many times, big tech companies Meta, Google, Amazon, OpenAI, and Microsoft are engaged in an epic race to build the world’s best AI models and infrastructure. They’ve already invested over a trillion dollars. This year, they are on pace to spend over $600 billion, with more than three trillion dollars coming behind it.

A huge constraint on big tech’s AI development is getting enough data centers up and running to power their AI model training and operation. Demand for AI services is soaring, but big tech can’t get enough “compute” that allows them to meet it.

This situation is a powerful driver of the bull market in the “neocloud” stock group.

Neocloud businesses own and operate AI data centers. Traditional cloud providers (AWS, Azure, Google Cloud) are generalist platforms built to serve every computing need. Neoclouds are purpose built to serve AI companies with enormous computing needs.

Big customers like Meta use neocloud data centers so they can train and operate bleeding-edge AI models. Neocloud businesses do all the logistical work of securing, building, and operating AI data centers so AI model builders can focus on building models. In industry speak, neoclouds provide “compute” to big tech.

Over the past few weeks, we’ve detailed how big tech’s historic investment program is driving many different AI infrastructure subsectors to new highs. Recently, neocloud stocks joined the uptrend.

Stocks poised to benefit from this bullish environment trend include:

Nebius (NBIS). Nebius is a $41 billion market cap firm that has secured an $18 billion 5-year deal with Microsoft and a $3 billion deal with Meta. Management is estimating its 2026 Annualized Run Rate Revenue to be ~$7-$9 billion. In 2025, this figure was $1.25 billion, meaning ARR is set to increase by ~540% in a single year. The stock recently broke out to a new all-time high.

Iren (IREN) is a $19 billion market cap firm that started as a Bitcoin miner and has made a pivot into AI infrastructure. The benefit of IREN is that it already owned all of its physical sites and power. Major customers are Microsoft and Together AI. The stock recently hit a two-month high.

CoreWeave (CRWV) is a $62 billion market cap firm that has grown the quickest of the three neoclouds listed. It reached $5.13 billion in revenue in 2025 and has a huge backlog of $66.8 billion. The stock recently broke out of a consolidation to reach a six-month high.

Big tech is spending over $600 billion on AI this year and still can’t get enough compute. Demand is overwhelming their current capacity. This is long-term bullish for neoclouds. It’s no coincidence the M&M Neocloud Basket is up more than 500% over the past year and just broke out to a new multi-month high.

One of our top investment destinations is poised to break out and surge higher. Do you own it?

Credit: oversnap

When December 2026 comes around and we look back at the year in trends, we’re going to be able to say that like the utility sector… and like the biotech sector… Canada had a good war.

It passed the Epic Fury “stress test” with flying colors. After suffering in March’s broad market correction, the iShares Canada ETF (EWC) has roared back and is now within pennies of its all-time high.

Over the past ten months, I’ve made the case that we are in a favorable environment for critical resources… one in which many individual resource sectors will generate strong returns.

Critical resources are the building blocks of the economy. Think raw materials like crude oil, natural gas, iron ore, copper, uranium, corn, and cotton.

Even today’s high-tech world of AI, apps, email, and Zoom calls is built on a “low-tech” foundation of steel, concrete, copper, lumber, and aluminum. Every day, our cars, trucks, and airplanes consume millions of barrels of fuel. Our lights turn on because we burn coal and natural gas.

Mining, extracting, planting, harvesting, processing, refining, and transporting critical resources is a multi-trillion-dollar business that affects every area of your life.

During this time, I’ve highlighted Canada as an excellent place for investment capital. Canada is the second-largest country in the world by total area, after Russia. This means there’s plenty of area to hold big oil and natural gas deposits… huge tracts of timberland… giant mineral deposits… and enormous farms. Canada is a major player in oil and natural gas production, ranking in the world’s top-five producers for both. It’s also a world leader in fertilizer, uranium, aluminum, gold, lumber, and platinum production.

Canada’s massive resource endowment also makes it a beneficiary of Epic Fury and its consequences.

As I’ve covered over the past few weeks, for many countries and businesses, Epic Fury is a brutal reminder: If your survival or smooth operation depends on uninterrupted resource flows from the Middle East, you are in a dangerous, vulnerable position.

No politician, CEO, or major shareholder wants their business to be in that position. No citizen wants their country to be in that position. Many powerful and influential people are realizing this is a big risk that must be mitigated if humanly possible. Executives and politicians will get fired for not addressing it effectively.

This means building and buying as many forms of “not Middle Eastern” resource supply chains as possible economically… like those from safe, resource-rich Canada. I can state with confidence that no caribou will ever strap on an explosive vest and attack a local natural gas field.

Canada had strong tailwinds blowing in its favor before Epic Fury. It was a market leader before Epic Fury. I expect that leadership to continue. I remain bullish on Canada.

Market Notes

• Our September 2025 recommendation to own Brazil is paying off. The iShares Brazil (EWZ) is up 17% over the past month, making it the number one performing ETF in our ETF tracker.

• Number 2? Space. The Procure Space ETF (UFO) is up 16.7% over the past month, making our 2025 recommendation to own space stocks a big winner.

• Mega financial firms Morgan Stanley (MS) and Citigroup (C) hit new one-year highs today.

• Our March 20th recommendation to own semiconductor equipment stocks is delivering. Industry leaders ASE Technology Holding Co. (ASX) and Aehr Test Systems (AEHR) reached new highs today.

• Packaged food giant Conagra (CAG) reached a new one-year low today. The stock is down 40.7% over the past year. Fellow food giant Campbell’s (CPB) is down 43% over the past year. Rising input costs and difficulties with adapting to customer preferences have made packaged food stocks among the world’s worst performers over the past year.

Regards,

Brian Hunt
Editor, Money & Megatrends

An urgent message from our colleagues:

$1 Billion Money Manager: “Trump’s About to RUIN Elon’s SpaceX IPO”

Donald Trump never forgets an insult. And according to this Mar-a-Lago regular, he believes Trump’s about to take his revenge on Elon Musk. How? By releasing a radical new AI model more than 1,000X more powerful than Elon’s Grok… just in time to leapfrog Elon’s SpaceX IPO. What’s Trump up to? And how could it send shares of one AI stock (not SpaceX) soaring?

Click here for the full story.