Global Banks & Exchange Operators

Own the institutions that intermediate credit, raise capital and operate financial marketplaces, rather than another technology-infrastructure basket. The technology drawdown makes diversified banking earnings and exchange transaction revenues worth considering together, while bank valuations offer a more restrained entry point than speculative growth shares. Credit deterioration and weaker capital-markets activity remain the principal risks; exchange operators diversify the business mix without eliminating market sensitivity. Launch basket (equal weight): JPM, GS, MS, C, BAC, CME, ICE, NDAQ 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.