Capital Markets Banks & Trading Platforms

Own the intermediaries that monetize investing, securities trading and capital formation rather than betting on a particular market direction. The recent equity pullback makes client activity and earnings resilience worth watching, while established banking franchises balance more volatile retail and crypto trading platforms. Market weakness can still depress assets, underwriting and credit quality, so this is not a defensive basket. Launch basket (equal weight): GS, MS, HOOD, COIN, JPM, C Rules: 1. No inverse, leveraged or volatility ETFs. 2. Only names tradable at the enrolled brokers (Moomoo): no OTC listings, no dead tickers, nothing on the refused list.