Wholesale Banks & Capital Markets

Own the institutions that finance companies, arrange securities issuance and intermediate capital markets, rather than consumer-finance apps or payment networks. Recent weakness in Goldman Sachs, Morgan Stanley and Bank of America offers a valuation-led entry into these franchises without depending on renewed enthusiasm for technology stocks. Corporate credit losses and a prolonged slowdown in dealmaking remain the principal risks. Launch basket (equal weight): GS, MS, JPM, BAC, C, WFC 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.