The New AI Gold Rush: Exploit Wall Street’s Ultimate Blind Spot

Thanks, everybody, for joining us today. I'm really excited to share with you a new discovery at New Constructs. I honestly didn't think what I'm about to share with you existed until we went digging in our data and found a new kind of gold, you might say. It's amazing, and I'm super excited to share with it. Share it with you today. We're calling this the new AI gold rush because we're going to show you where the real gold is and how we're able to take advantage of Wall Street's ultimate blind spot, which is accentuated today by what we're seeing in sort of the overall AI mania. Disclosures and disclaimers. Look, we're not advisors. We're not giving investment advice. We are a publisher. We help you make smarter decisions by providing you with better information. As always, I want to hear from you in the chat. What kind of investor are you? Is this your first time with us? And at the end, we might have some time to actually analyze some of the tickers of your choice. But today we are here for an exciting opportunity to deliver something to you that is brand new to our community, brand new to New Constructs. It was honestly just a few days ago that we figured out that this existed. We noticed an unusually high number of stocks that are fitting an extremely strict criteria. In fact, I didn't think there would be any, and there are quite a few. And we felt that this window of opportunity was too good to not bring to you. This was something that we knew we needed to get out there as quickly as possible because we're not sure how long it will last. But I want to go into the origin story of all this because it's important context for what we're announcing today. Here's how it all started. Back in 2024, we launched the Super Stock Bundle. At the time, it was a brand new concept based on a discovery that our analyst team had made. We identified these stocks meeting a very specific criteria beyond our standard rating. It was actually pointed out to us by a friend or another analyst at another firm who pointed out that these were remarkably undervalued stocks relative to the current price. And they had great potential for abnormal returns. And we saw this actually happen. And it was a super rare criteria that indicated super strong performance, thus super stock. And those 2 criteria that we then put together and did some backtesting on to create a bundle around were a very attractive or attractive stock rating from us and economic earnings greater than GAAP earnings. The results? Huge winners, including gains of 178% after we delivered this financial services company to clients. A technology company was up 63% after we delivered that super stock pick to clients. Another financial services company, after we delivered that super stock pick to clients, is up 58%. Basic materials company up 76%. Healthcare company up 51%. Another technology company up 62%. A consumer discretionary company up 64%. You get the idea. Super stocks, they were called super stocks for a reason. Then we did some more digging. We're like, okay, hey, this worked really well in this, this part. Let's go through our data and see if we can't find another great indicator. And then we identified another pattern. We call these alpha stocks. These were related to Super Stocks, but with a critical difference in the valuation lens that we applied. The Alpha Stock criteria also needed to have economic earnings greater than GAAP earnings, but they had to have a market-implied growth appreciation period of 10 years or less. And this is my favorite metric. And we actually found that metric in the rating system to be the most powerful. And it's based on also our most powerful technology and analytical tool, our reverse DCF model. The results? More huge winners, including gains of 294% when that alpha stock was delivered to clients. An energy company went up 42% after that alpha stock was delivered to clients. A healthcare company up 56% after that alpha stock was delivered to clients. An industrials company went on to go up 28% after that Alpha stock was delivered to clients. Now, it's important to know that these picks are not and have not been part of any other model portfolio. Super Stocks and Alpha Stocks were never part of any other offering except those— that special offering, because these are extremely rare and standalone picks, and there's not many of them. There's not enough to just come up with new picks every single month or even every single year. We've never seen the picks that we're going to be talking about later today ever before. But we recognize that investors want to know the best stocks right now. And today we're here to deliver those kinds of opportunities on a silver platter with a new set of stocks that combine our super and alpha Criteria, and if you're new and unaware of what a super or alpha stock is, do not worry. I'll be going into detail in this training to give you full context on what these picks are. We're going to show you how all this works. I'm going to enjoy showing you how it all works because no one else can do what I'm about to be able to do. If also, if you're one of our new members and wondering why you should trust our research. And stock picks, let me take a step back and provide a quick intro. Number one, our stock picking has been ranked number one, beating 16,000 buy-side professionals every single month for 62 straight months. That's over 5 years. That's an amazing track record, folks. That's an amazing— like, 62 straight months. Name another manager you know of that's performed that even for 12 or 24 months, much less 62 straight months. Here's a picture straight from the website. Check out SumZero. Again, it's a buy-side only platform with 16,000 professionals. Here's another great validation point. Our work has been vetted and validated independently by some of the most prestigious institutions in the world: the MIT Sloan School of Business, the Harvard Business School, Ernst Young, the Journal of Financial Economics. These institutions have all published papers proving the superiority of our data, our models, and our ratings. These firms do not get paid to publish any papers. Even mentioning paying for a paper, these guys will be very angry with you and upset with you because that would violate their integrity. Their integrity is their biggest asset. They publish papers when they have discovered something that's never been seen before. And that's what they saw with New Constructs. Even better than that, the performance of our actively traded indexes based on our research proves our value-add. Even if you don't want to believe Harvard Business School or Ernst Young or MIT, who did tons of statistical analysis to show that they saw alpha in our data themselves and proved it on paper, even if you don't want to believe them, I got somebody you gotta believe, Mr. Market, the stock market. There's no arguing. The Bloomberg New Constructs Core Earnings Leaders Total Return Index beat the S&P 500 by 41% over the last 5 years. That's a wide margin of victory. The Very Attractive Stocks Index has beaten the S&P 500 by 26% over the last 5 years. The core earnings weighted S&P 500 has beaten the S&P 500 by 24% over the last 5 years. Folks, there's no arguing with the market. Beating the market is the ultimate mic drop in terms of proving whether or not you have something that's real or fake. It also doesn't hurt to have Harvard Business School, MIT Sloan, Ernst Young, Journal of Financial Economics backing you up. But again, Proof is in performance, folks. And today I'm going to show you how to get my latest and best stock picks, which could rival the performance of any of our previous picks in our live traded indices. These are so special, they don't go in an index or a model portfolio. And they're special because they are based on a combination of 3 factors. Number one, Golden metric that we've studied, backtested, and validated. The proven superior stock rating system at New Constructs, and the market implied growth appreciation period of 10 years or less. These picks should not be taken lightly because our track record speaks for itself. So let's get to it. There are 2 kinds of research out there, folks. Let's just be honest. There's the research that everybody else has. Right? It's what everyone talks about in the media. Then there's the research that only a few select investors have or insiders have. That's the crime where you get a real edge. Now, the insider stuff is illegal. We would never traffic in that. We don't mean to suggest that anyone should. You should not. But that's how insiders get an edge. They have information illegally that no one else should have. We have information that no one else has. We obtained it legally from public documents, and that's what we've been doing. And that's what Harvard Business School and MIT Sloan wrote papers about, because that's a unique discovery. No one else in the history of the world that I know of has been able to glean alpha from fundamental research and public documents in the way that New Constructs has. And so today I'm giving you access to the kind of research that only a few Rare investors have. Now across Wall Street and Silicon Valley, there's a new buzzword: data mode. The data mode is important because it shows that the AI hype, which in some ways is one of our competitors, right? Because AI promises to do what we can do. I talked to some big institutions, some of the biggest in the world. Some are like. This is amazing. We can't explain your data and anything else we have. We need it. Some are like, they say the same thing, then they say, yeah, but AI is gonna do what you can do. Not true. It's clear that this is not true because all these AI models are quickly converging, commoditizing, because they're all based on the same internet data. We're seeing a new world emerge around how AI is gonna work. But these open source competitors from China have shown that the AI models have no pricing power because the real value lives not in the models, right? Because the models are all the same. The real value exists in exclusive proprietary data that no rivals can easily copy. Just like the world in business and hedge funds, they're all built around their own proprietary data. They keep it secret. These big hedge funds, they have all kinds— they got better security than the US government. They take greater pains to protect their data than anything else because they know that's where their juice is. These people that make money with data, the last thing they're going to do is let AI have access to it unless they control that AI, right? This idea that the generic AIs out there are going to somehow have access to proprietary money-making data, to me, is ludicrous. It's never going to work that way. The value is in the data. And that data's got to have a moat, right? It's got to have a moat, meaning no one else can get it. But the value is in the data. And we've built a data moat over 2 decades that's proven to outperform. Google's own definition of a data moat. It's exclusive ownership. Only New Constructs owns it. Has active feedback loops. We're seeing the market provide proof that it works, and we're constantly refreshing with new corporate information. Every time they publish financials, we're updating. And that is compounding value over time. Right? The core earnings leaders beat the S&P 500 by 41% over the prior 5 years. Very attractive stocks index beat by 26% over the last 5 years. The enhanced S&P 500 core earnings weighted index beat by 21%. Those are good numbers, folks. And it's a near-perfect description of what we've built with our fundamental data. It's important for me to emphasize our data moat is proven, not just claimed, validated by the most prestigious institutions in the world and validated by real live stock market performance. So here's what the market is missing. Here's the blind spot, folks. Everybody's crowded in AI stocks. Everything's in AI, crowded. They're ignoring the importance of data moats. Why? Because the data moat undermines the entire AI narrative. If OpenAI and Claude can't— and Anthropic can't have these IPOs at a trillion dollars, Wall Street stands to lose hundreds of millions of dollars, folks. Hundreds of millions. The IPO fees to the bankers on the SpaceX IPO on one day were $100 million. Do you think they're going to do everything they can to keep the AI narrative going? So they can get 2 more paydays like that? Yes, they will. So with all that focus on the wrong stuff, our system has got a lot of opportunity to find good stuff. And I think the fact that we're seeing so much overfocus on AI is part of the reason why we're seeing things we've never seen before in terms of great stock picks. And here's another— I love to provide evidence on these kinds of things. And Kyle, if you have a chance to drop this into the chat, But CNBC published an interview this week with the CEO of Hims Hers, and he flat out said core foundational models independent of closed-loop datasets are just not that valuable. The core foundational models, that's OpenAI and Anthropic and Grok, independent of a closed-loop dataset. That's another way of saying proprietary, closed loop. It doesn't go out into the world. It's closed inside somebody's organization. Are not that valuable. OpenAI and Anthropic are not that valuable without proprietary data. Makes sense. What model is super valuable if it doesn't have proprietary data? It's an also-ran. And if you're an also-ran, you got no margin, you got no profits. And then he went on to say, I think fittingly, accordingly, data is the asset. Proprietary data is the asset, folks. Check out this tape because it's, it really is special. Really is good. So here's a reframe I want you to consider. The wrong question is, which industry will AI disrupt next? Folks, is there anything out there that AI has not already disrupted? Come on. Right? We've got fearmongering about how it's gonna destroy 2 million or 200 million white-collar jobs around the world. Right? Oh, it's a, the AI is escaping its cage and attacking other companies. Come on now. We're like, we are stretching the narrative as far as we can. The real question, which companies generate real cash flow regardless of what AI does? How about that? Let's put AI aside. Crowded trade. Is there room for something that's a crowded trade? Do you get an edge in a crowded trade? No, you do not. You get an edge at looking at things that other people are ignoring or cannot see. And what we bring you is what other people cannot see. So, my take, the reframe is that in a world where the narrative can disrupt anything at any moment, the only true, truly reliable investment strategy is verifiable, durable cash generation. It's a timeless idea. This is not new. And the market is rediscovering it. This is what happens when the pendulum swings too far into narrative. You're forced to come back to where the real money is made. The success of Berkshire Hathaway is built on this timeless idea. This is what Warren Buffett and Charlie Munger, that's all they would say. Reliable, durable cash flow at the right price. That's it. That's how, that's your mailbox money in the stock market. And it's not just Berkshire Hathaway. All the great investors say that. So I want you to see a 2-tier market structure right now. So, and this is what's happening. This is when you have a mania as strong as AI. He's got companies— number tier 1 is companies with strong, verifiable economic earnings that are AI resilient, fundamentally sound, and likely to outperform. These are the non-AI stocks. Tier 2, you got companies dependent on narrative and manufactured earnings, vulnerable to disruption, vulnerable to narrative shift, needing accounting tricks to boost EPS and Wall Street fake earnings. Wall Street's got to keep that buy rating. Wall Street's got to keep the AI narrative going. They got to stoke that narrative with as much firewood and gasoline as possible because they got some super profitable IPOs in the pipeline. So the narrative is going to continue strong, folks. I'm not here to tell you it's going to implode. I don't know when. I know the writing is on the wall based on this data mode stuff I just said. The other thing I know is that there are a lot of great stocks out now that are getting ignored. And if you've got the right data to find them, this is an opportunity to back up the truck. Another thing to keep in mind, while most investors are out there losing sleep trying to time the AI bubble, we're finding stocks that let you rest easy at night. This is the mailbox money because they don't depend on AI, folks. At New Constructs, you'll know, people have been with us for a while, and feel free to chime in here in the chat. We're not out here pitching narrative stocks. We never do. We pitch good stocks all the time. We don't have to chase the narrative because we're always able to find these good stocks over the years. We've consistently done that. And today we've got something more special than ever, but our track record shows we know what we're doing. We don't have to chase the narrative because we can do it with the good stuff the right way consistently over decades. That leads me to today. There's an unusual window right now. An unusually high number of stocks that currently meet those 3 unique criteria. And when the data speaks, we listen. Again, never seen before. Didn't believe it existed, honestly, till we went digging. So let's get into the mechanics of what makes these specific stocks so special. It's based on a discovery we made and indicates an excellent long-term future with huge potential gains. And this is this first one. Accenture up 783% when we first identified this. AutoZone up 705% when we first identified this criteria, this golden metric. We didn't believe, I didn't really honestly think it existed that much. I thought it was so rare that it was just almost never. When someone actually pointed out to me, hey David, did you know that Accenture pick and that AutoZone pick, do you realize that part of what you had there was the fact that golden metric was in place? The golden metric being economic earnings greater than GAAP earnings. So, I was like, I did not. He said, maybe we should look for more stocks like that. And I said, great idea. And we did. And it has turned out really well. The formula for economic earnings is very simple. NOPAT minus WACC times invested capital. Now, NOPAT and invested capital happen to be 2 metrics that We do better than anybody else in the world by a long shot. NOPAT is a slightly more sophisticated version of core earnings. And you've seen how core earnings does by itself. Invested capital is a cleaned-up balance sheet that takes into account all those footnotes. How many of you have seen our work pointing out the off-balance sheet debt in the AI industry going back to November? We were the first to break that story, folks. We pointed out that Oracle is taking on enormous amounts of off-balance sheet debt. What happens since then? Stock's down 40%. Now the Wall Street Journal's talking about off-balance sheet debt. Folks, we were 6, 8 months early on that, 10 months early on that. And economic earnings reflect that all the time. It is the number that you've seen everybody from Adam Smith to Ben Graham to Warren Buffett, Charlie Munger, They talk about economic earnings. It's one of the first things I learned when I got into the business. Before Wall Street, I was at an executive compensation consulting firm. This was back in the mid-'90s before people got into really manufacturing earnings as much. And our job was to go to boards of directors and say, look, whatever you do, don't pay your executives based on accounting earnings because you can grow accounting earnings while running the business into the ground. What should you focus on instead? Economic earnings. It's based on the complete set of data from the companies, right? Income statement, balance sheet, cash flow statement, and footnotes. So it's comprehensive. It's the doctor giving you a physical and looking at their whole body and the labs and everything. Reported earnings is like going to the doctor and all they do is check your ears. You want to know the whole full physical if you want to make an assessment on the health of business. Economic earnings is also standard for all companies. It's apples to apples across all companies, so it's comparable. And then it's the most accurate measure of profits. Here's some examples for Groupon where we saw that economic earnings differed dramatically from accounting earnings. And we all know what happened to Groupon. That stock got crushed. And this has been the case over the years. If a company is not generating positive economic earnings, it's not creating shareholder value. If it's not creating shareholder value, It deserves to— the stock deserves to go down or go to zero. Accenture, as an example, when it started creating real shareholder value, we found in our analysis economic earnings greater than accounting earnings, stock up 78— 783%. AutoZone, same idea. When we discovered that economic earnings were greater than accounting earnings, the stock went on a big tear. Now, it's important to understand that the profitability of the business is not just what matters. It's also important to understand how rare this metric is and how large the true difference between economic earnings and GAAP earnings can be. Folks, this is not some weird new number we're making up. This is the gold standard for understanding the economics of business. I've been working on this for over 30 years, and I've found multiple loopholes in, in accounting that I've written papers on. We've got 31+ papers that we've written on each one of these loopholes. I want you to know about the loopholes, folks. I want you to go in and see details of exactly how sophisticated our work is to go fix these things, because then you're going to appreciate just how valuable what it is we do. Take— go download one of these reports and then go try to do the work. And then imagine doing that work on 7,000 companies over the last 20 years. That's how you get an edge, folks. That's how you get an edge. Now, sometimes these distortions occur by chance, but more often they are deliberate, folks. I've been doing this for 25 years. I've been telling people for a long time, companies are in the business of obfuscation. If they wanted to be straightforward about how their profits were looking, filings would not be 200 pages long. And the bottom line is that the flexibility in accounting rules, generally accepted accounting principles, creates loopholes that companies can exploit to manipulate their reported earnings. That's just a fact. I know, I used to work for FASB, or the Financial Accounting Standards Board, the people who create and manage GAAP. So what does that mean for you? That means the numbers can be manipulated. To make earnings and profitability appear more impressive than they truly are. The numbers can be manipulated, folks. It's legal. And that's the tough truth of today's stock market. You cannot trust GAAP earnings or any earnings from companies or Wall Street. That's why we went out and created our own, and that's why we get alpha from our better number. And over the past 20-plus years, we've trained our system to identify and close these loopholes. To uncover the true distortions between GAAP and economic earnings. This helps warn investors about bad stocks in the market, such as Beyond Meat, down 99%. Groupon, talked about that before, down 91%. Allbirds, down 79%. But it also helps us spot good stocks that can lead to triple-digit gains. Bath and Body Works, When we saw economic earnings were greater than accounting earnings, stocks up 430%. Natural Resource Partners up 260% for the same reason. DXP Enterprises up 160% when economic earnings exceeded GAAP earnings. Folks, it is an investor superpower to find companies that are earning significantly more than what the market perceives. This is a superpower. Folks, remember, check all those 31 loopholes, fix them for 7,000 companies over 20-plus years. That's 1,000 filings. It's a lot of work. That's how you get an edge like the greats. There's no shortcut, folks. But you can only do that again if you have the right research and data to see exactly where economic earnings are greater than Accounting earnings. Heads up, Google or ChatGPT will not give you an accurate list. They can't calculate that stuff. Their numbers are based on faulty data and will not give you a good read on what's really happening. Period. Because only we can. Nobody else has our data. Here's what it looks like in our system if you're a client in our website. We track economic earnings and GAAP earnings, and we show charts in the system just like this and this. And when this metric is in place, eventually those profits can catch up and boost the stock. That's how it works. The market realizes the company's more profitable than what it thought. The key is you got to know that this metric is in place before the rest of the crowd, because the market's catching up when everybody else realizes. Now, I should be transparent with you. Although this golden metric Is extremely powerful. It's not everything. It's also important to find a company that also has a cheap valuation, folks. If you can find both, it's a very special thing. And that's where our proven stock rating system comes into play. Our ratings are powered by our robo-analysts. We rate over the history. I think we've got 7,000+ companies that we've rated over time. Currently, we've got over 3,200 stocks actively traded, another 7,000 ETFs and mutual funds we're rating all the time. This rating system has the ability to comb through thousands of pages of financial filings with precision, analyzing every line and footnote. No wonder some of the top firms in the world are using this data. Has 5 key metrics: economic earnings compared to accounting earnings, ding ding, return on invested capital, and then 3 valuation metrics. 2-year average free cash flow yield, the price-to-economic book value, and the market implied growth appreciation period. One of my favorite. These metrics help us gauge the quality of companies' earnings and determine if the stock is priced correctly. Or valuation. These— this stock rating system is so good that Harvard Business School published a 60-page paper on it, proving that it was better than Wall Street ratings. It's the only stock rating system with an official US patent behind it. And again, we spent 20 years optimizing AI for financial statement analysis with 43 billion data points plus in our system. We've analyzed more than 2.5 times as many financial statements as Mr. Buffett, according to a study in the Wall Street Journal. Now I'm going to give you some context real fast on AI, folks. Our AI is different from the other AI you hear about most of the time. Our AI is built on proprietary technology to organize complex financial disclosures into the most accurate measure of economic earnings, proven vital for assessing a company's true financial health. We've built this from a real dataset that can be audited back to the source. Most investors and professionals don't have access to true economic earnings. They don't have time to read footnotes and analyze them. And footnotes are hard to analyze because they're buried in 200-plus-page 10-Ks and 10-Qs written in legalese and complex jargon. Raise your hand if you ever read a footnote. Raise your hand if you've ever read a million or millions of them. That's what our robo analyst has been done— has been doing for 20 years. And that's what's required to get an edge and to win in the stock market. You got to go do something no one else has ever done before. You gotta have an edge, sustainable edge, a data moat. Part of the reason no one else does it is because it would cost millions of dollars per quarter for firms just to do this for themselves. Again, that's why nobody else does it. It's way easier to blast out, buy, AI is gonna change the world. Buy SpaceX, buy Anthropic, buy OpenAI, buy Nvidia. They're AI companies. There's no limit to how high they can go. Go. Meanwhile, these guys are banking by the billions, right? No surprise, 96% of stocks covered by Wall Street are listed as buy or hold. Huh? What? Say that again. 96% should buy and hold the whole market? Come on, folks. Why would they do that? It's because their paycheck depends on you buying stocks. Are you going to buy stocks they have a sell rating on? No, you have to— you're not going to buy them, you're going to sell them. So they got to make sure 96% is all good. So all these brokers and RAs out there, they're going to be fine telling you to buy something because it's going to be supported by Wall Street somewhere, somehow. I'm sure everything's on the table. Buy it all. Buy it all. That's how they make money. That's how they make money. And that, folks, is precisely the blind spot that we're exploiting today. While Wall Street is so focused on how they make themselves money selling stocks and IPOs, they're not focused on picking the right stocks, which is where our proprietary data and this unique opportunity comes into play specifically for you right now. Less than 13% of the stocks in our system get an attractive rating. Less than 4% get the very attractive rating. Folks, good stocks don't grow on trees. Why should Wall Street expect you to believe that? Great opportunities do not grow on trees. It's a competitive market. You can see our system is super discerning. I've said this before, and I'm going to continue to say it: trusting Wall Street is like trusting tobacco companies when they were telling you that cigarettes were not addictive. You may also be wondering, Sure, your stock ratings at New Constructs are different from Wall Street. How do we know they are better? Again, number 1 rating for 62 months on some zero. Top-tier institutions proving the superiority of our ratings and our data and our models at every layer. Folks, the reason I'm showing you 3 papers is because the ratings sit on top of all this data. And so I want you to know I'm not magically making up some voodoo rating. Oh, yeah, this is how you create a rating. No, it's based on a very specific ontology, which is a model. And it's based on a very specific taxonomy, which is the data. And at every element of the stack, we're proven to be unique and superior. And this superiority doesn't just work to protect you from false buy ratings. It shows you the rare few true buys in the market. Again, great stock picks don't grow on trees. Is it— should it be any surprise that we've been able to find so many good stock picks over the year? No, because we've got a better system and we're discerning. Remember, less than 13% of the stocks we cover ever get an attractive or very attractive rating, less than 4% very attractive. When we find a stock that has an attractive or very attractive rating and economic earnings greater than GAAP earnings, we think you're going to be able to find stock plays that could potentially demolish the S&P 500. Interesting. the near and the long term, folks. Like Capri Holdings, up 220% when we identified economic earnings were greater than GAAP earnings. Funko, when economic earnings were greater than GAAP earnings, it went on to go up 110%. Argonne, up 90%. Now let's get to an even higher level and explain the 3rd criteria, which is part of our Alpha Stock Picks set, folks, is we're going to be even more discerning. The market implied growth appreciation period of 10 years or less. This is the definition of market implied growth appreciation period: the number of years that the market expects the company to be able to earn a return on capital greater than the cost of capital on new investments. That's a bunch of fancy speak for saying, how long is the company's competitive advantage period? How wide is its moat? We have a quantitative, proven superior way to measure how wide a a company's moat is based on the market's expectations. I'm not predicting how wide the moat is. I'm looking at the market's, Mr. Market's prediction on how wide the moat is. We developed a reverse discounted cash flow model to do nothing but this kind of work. We've been running it for 20 years. The system's been live and running. So we've been doing this competitive advantage period, growth appreciation period analysis for a long time. We know what we're doing. It's a key part of our rating system. These stocks, when they have a low market implied growth appreciation period, tend to reach their true potential in stock price much faster than nearly every other stock we analyzed. Think about this as the ultimate unique valuation criteria, and this criteria independently led us to finding cheap and valuable stocks that eventually caught up to their true market price due to valuation distortions, leading to triple-digit gains in a relatively short time period, such as TravelZoo. When the GAAP rating— in our rating system, they had a market implied GAAP of less than 10 years and economic earnings greater than accounting earnings— up 337%. Global Ship Lease, up 321%. Notice these numbers are even bigger than what we showed you for picks before. Korn Ferry, 125%. So what is a super and alpha stock? It's a company that meets 3 super strict criteria: economic earnings greater than GAAP earnings, an attractive or very attractive rating, and a market implied growth appreciation period of less than 10 years. Those 3 criteria, I didn't believe were possible to find in one place on one stock. And yet we found a bundle. I didn't believe it existed until we started looking because it was just so rare. In the same way, I kind of thought economic earnings and gap— greater than gap earnings was super rare. Guess what, folks? Stock market mania in AI and expensive stocks is creating some opportunity. That's the reason I invited you here to be here today. We're excited to announce something we've never done before. We've identified stocks that meet both super and alpha criteria, and we've created a brand new offering which we're calling Super Alpha Stocks. What are Twin Powers Activate? The first super alpha stock has a very attractive rating. It's a stock we believe could perform exceptionally well in the near future based on all 3 criteria we've detailed. It's got an attractive or higher rating. Its economic earnings are greater than GAAP earnings and a market implied growth appreciation period of less than 10 years. This pick is not based on hype. This stock has all the right criteria in place to thrive in the months and years ahead. Now, if you're interested in the name and ticker symbol of this company, all the details are included in a fresh report that I prepared. It's called My Number 1 Super Alpha Stock Pick for $997. An amazing price for something that could dramatically outperform and dramatically improve your portfolio based on data that no one else has, giving you an edge. Want to see it now? Go and click the link in the chat that we just provided. Now I want to emphasize how rare an opportunity like this is. Based on our current data, only a small handful of companies have this hidden metric in place— economic earnings greater than GAAP earnings. Even less also have an attractive or very attractive rating, and even less also have a market implied growth appreciation period of 10 years or less. So we're dealing with a super elite set of companies, and we are surprised to see any companies Meeting this criteria. And I'm not sure how long it will last. Never seen this before, so I got no idea if it'll last a day or 2 days or 3 days. But I don't think it's gonna last long because it's a super rare combination of factors. That's how we know this opportunity is extremely rare and extremely valuable and not likely to come around again anytime soon. So I suggest getting it as soon as you can. Because it's uncommon for companies like this to remain unnoticed for long. This is especially true for today's current market. Of course, we can't promise a triple-digit return on this pick, or any other pick for that matter. But I can say it meets the same criteria as the successful stock picks I've shared with you today. You can see very attractive rating and a very attractive rating for market implied growth appreciation period. Now, it might not be the next Nvidia, which we called back at split-adjusted $0.25 a share. However, it's within reach to achieve returns comparable to those we've seen from stocks with this hidden metric before, including Dell Technologies, up 200% when we saw economic earnings greater than GAAP earnings. Vale, up 140% when this golden metric was in place. Medifast, Up 108% when the gold metric is in place. It's important to know these picks go above and beyond our typical rating system. They are considered outliers even amongst the attractive stocks in our system, which is why they've not been curated into any of our monthly portfolios. These portfolios do great. They're awesome. But they're the elite of the elite. They are special and get our super alpha rating. Now we've been building and refining our data for over 2 decades, and when we find these special stocks, we pay extra close attention because most of the time these stocks will have us shouting, it is time to back up the truck! And that's what it is time to do, folks. Now with this pick You're going to get the same detailed report that's normally only available to my professional higher members. So we're not just going to throw the pick to you. We're going to give you this 8-page report that goes in all kinds of detail explaining where we see adjustments, what's good, what's bad. There's a lot of good in these, but we're going to give you this detailed report as additional evidence of how much diligence we do. And also to be sure you get off to a swift and successful start with these picks. I'll be throwing in a bonus exclusive members-only call, a bonus call with me that's worth $1,000 on its own. I'll show you how to read the detailed report, analyze the data, anything you want. I'll take your picks, questions, and we might even throw a few of your stocks through our system. Now, with this type of potential on the table, it's easy to see why some of our clients pay us over $12,000 a year, some much more than that, the big hedge funds, but individuals. Pay us $12,000 a year to see our stock ratings and research reports. For good reason. The comprehensive nature of our research entails countless pages of data and documentation, including information from balance sheets, income statements, cash flow statements. Producing and maintaining this level of detailed research would set you back millions of dollars each quarter. Our memberships at New Constructs give you access to a level of depth of financial research that's considered a gold mine. To financial advisors and hedge fund managers. That's why Google invested $2 million to build an agent based on our data. You could say this deal, though, that we're offering to you today is even better than any of that, because we've done the screening for you. We've done the work to find the stock picks that passed our strictest criteria, and we're going to deliver that to you on a silver platter. All the work has been done. You get the benefit of some of the greatest research in the history of the world on fundamentals of companies. So I won't be charging anywhere near the price of our institutional or professional membership for access to these picks. And today, in fact, we're going to go do something extra special. You're here with me live today, and I want to give you something special and exciting. You'll be able to secure access to our first Super Alpha stock pick for just $799. So just about $200, nearly 25% off the original price. And if you're joining now, I'll include 4 more of these Super Alpha stock picks over the next week. That's giving you 5 total Super Alpha stock picks based on our strict criteria of a very attractive rating, the golden metric in place and a market implied growth appreciation period of 10 years or less. Each stock pick will come with a full detailed report so you can see everything you want and have all the detailed information that we provide on every company we cover. Now, over the last few weeks, we've done a lot of digging in search of more gold to find more alpha stock picks based on our strict criteria. And I'm very excited to share these options for Super Alpha Stock Pick Bundles with you. Number 1, option number 1, 5 stock picks within— released to you within 1 week for $799 each, including a $12,000 report, right? I tell people to recreate the work we have in any one report. Honestly, if you want to hire someone from Wall Street, that's $25,000. Per report. You're getting 5 of those within 2 weeks. I'll give you 7. That's only $999. $100 each for 2 more picks. Amazing deal. Option number 3, 10 total Super Alpha Stock Picks released within 3 to 4 weeks for $1,199. An amazing deal. Just a little bit more than $100 a pick. $100 a pick. You probably spend more of that at Starbucks every month. Well, more than that on another research service per month. And we're giving you the benefit of 20 years of work, 43 billion data points, and expertise validated and vetted by Harvard Business School, MIT Sloan, and Ernst Young to pick the best stocks in the market right now. That's one heck of a deal. These stock picks will come within the allotted timeframe depending on which option you select. The bottom line, you're receiving 1 high-value stock immediately and up to 9 more depending on which option you select, guaranteed. This special offer aligns with a quote by Justin Welsh. Modern luxury is the ability to think clearly, sleep deeply, move slowly, and live quietly in a world designed to prevent all 4. Folks, the world is chasing us every moment of every day, in every screen, every billboard, everywhere we look. They're trying to sell us something. They're trying to sell something to make them money, to profit, whether it's the bad food they want you to eat, the bad drink they want you to drink, or the bad stocks they want you to invest in. And that's why we're so proud at New Constructs to do things the right way. I hope you enjoyed the last 45 minutes or so of me explaining exactly how we do it the right way and how some of the most prestigious institutions back us in doing things the right way. So if you're ready for me to put the robo analyst to work for you and take action on an extremely rare and valuable super alpha stock pick, plus up to 9 more, go ahead and click the link in the chat that we provided. This won't last forever. Now, I have to say, I can only promise this deal at exclusive pricing for those of you who join now. I'm not leaving this open forever, folks. This is not something I'm giving away to everybody. You are exclusively getting access to this offer because if I gave it away to everybody, all our institutional clients, the picks would be gone already. They'd be priced up right away. The window would close. This works because we're giving it special to you. Right now, nobody else. That's why this works. If you're new to us, if you're not sure, oh my gosh, David Trainer saying this crazy stuff, how about you see what some of our clients say? Here's from Nancy. You can see these on the site. I can share a link to our testimonials, see them directly. Along with your integrity, we appreciate your commitment to maintaining high standards and your courage for saying so. Thank you, Nancy. I highly endorse the New Construct System as one must-have tool And any stock or fund selection system. Going from marked-up footnotes and filings to reliable, easy-to-understand indicators of a company's performance is a huge undertaking, and you deserve my utmost respect. And here's the best part: I expect to continue using new constructs throughout my life to avoid ever running out of money. Thank you, Chris. As a business owner, Kurt says, I know how financials can be manipulated to put forward best-case scenario analysis, thus hiding critical information. Your research digs that out and provides a high level of confidence in my selection process. Thank you, Kurt. Those are impressive testimonials, and we got a lot more if you want to see them. Here's everything you get if you join today. You get number one Super Stock Alpha Pick Report and bundle. You get the number 1 pick with the report. That's worth $1,000. 6 more worth about $6,000. The founding members only live training worth another $1,000. We're close to $8,000 there, folks. All for just $999, saving you $7,000. It's— this is in about a million years worth of work to try to do this on your own. We have something special and we're very pleased to give you this really great deal. Why such a great deal, you might ask? Why would New Constructs— if it's so great, why would you do this? This comes down to our mission at New Constructs. We don't take money from anybody else, and we're not conflicted. Our mission at New Constructs— when I wrote my business plan in Central Park in July of 2002, that business plan said that our goal, the mission of New Constructs, was to improve the integrity of the capital markets. I've done this on Capitol Hill. I've done this with institutional investors. I've done this with universities. And I'm doing it with you now. My goal is to improve the integrity of the capital markets because I believe that the capital markets are the single biggest asset that the United States has. Our ability to take capital from low-return businesses and put it into higher-return businesses, effectively allocate capital to its highest and best use, that's what makes America great, independent of any public political party or anything else. Being able to do that better than anyone else is why we went from a newcomer to the world stage 250 years ago to this most powerful country in the world. We allocate capital better than anyone else, and New Constructs is here to protect the integrity of that system. And that's why we want to share this with you, and you in particular, because the big guys, the insiders already have it. You deserve to be on fair footing, and our markets will be healthier for longer. If more people, more Main Street investors have access to the truth. Because if we just let the insiders run away with all the profits, we're killing what makes this a real democracy by letting too many people have access to excess information that gives them an advantage edge that they can exploit over the masses. I'm leveling the playing field for good reason, because I believe that's what America needs to maintain its success in the years to come. Common question number 1. What if I already have access to the previous Super Stock or Alpha Stock bundles? Will they all be the same stocks? No, these are brand new stocks. There is no overlap from previous bundles. No other stocks in any other bundle in the past have ever had these 3 criteria at the same time. Not that I know of. We— they may have by accident, but we weren't even thinking about it. I don't think they, they did. But we didn't even think about putting these all 3 together because we— it was so hard to find stocks that met criteria for either of the prior 2 bundles, for either the Super Stock Bundle or the Alpha Stock Bundle. So hard to find stocks that met those criteria, we didn't imagine we could find all 3. Special things happen, special opportunities happen. Take advantage. How many stocks will I be receiving total? Depends on what you choose. It's up to you. 5, 7, or 10 stocks. No matter which tier you select, you will immediately receive the first Super Alpha stock delivered to your inbox as soon as you sign up. Common question number 3: Are these Super Alpha stocks released in the new bundle guaranteed to have a double-digit gain in the next year? No, we do not make guarantees. We've never made guarantees. We will never make guarantees. I don't pretend to be able to predict the future. I don't make predictions. I rely on facts to help deliver the truth. And I have a technology that helps me get more facts than other people. And I am sharing that edge with you today. How do we know new construct stock picks outperform? Look at how we've done in the stock market. The Core Earnings Leaders Index beats the S&P 500 by 41% over the last 5 years. The Very Attractive Stocks Index beats the S&P 500 by 26% over the last 5 years. You can look these indexes up, you can look these tickers up on the page here and verify this on your own. These picks and those tickers you can find in every spot you want. The 3rd index, the Core Earnings Weighted S&P 500 Index, probably my favorite index because it says, hey, somebody else can pick the stocks. We'll still outperform because we will weight those holdings better than you will. If there's not a better example of how we create value and how no one else can do what we can do. It's this. I don't know what it is. This, this one right here, beating the S&P 500 by 24% over the last 5 years by simply weighting the stocks more intelligently. Folks, that's how you can tell what we do better than anyone else. All right. As I promised, I will take 3 of your tickers. Go and start putting those in the chat and I will open our website. Also, any questions you have, share them now, please. All right, Kyle, what stock we— what's our first stock we're going to look at today? Everybody's quiet today. We need people to get some tickers in here. Yeah, I've seen this is a very light chat. Maybe people are just so overwhelmed with how amazing the offer is. It's a good way to go. Did have— let's see here— FRFHF. Here we go. Fairfax Financial Holdings, neutral rating. So not such a great business, cheap stock. I do think at a 0.5 price-to-economic book value, you're getting a lot of margin of safety here. So the current price is implying profits will permanently decline by 50%. That's a lot. Let's see, was the credit rating raising any alarms? Ah, insurance companies can't have a credit rating. That's right, because too often their liabilities are actually owned by somebody else. And so It's not really relevant for, for these guys to have a credit rating. So let's go into this. Our professional membership, actually, this is my institutional membership. I've got a lot of details here, but this is what you can see in Pro as well. Here's the economic versus accounting earnings we're telling you about. Every single company in our system goes through this lens. We like to track what they're doing with shares. We'd like to see that going down, tracking return on invested capital and return on tangible invested capital as well. We also break return on capital down into the income statement and balance sheet efficiency metrics, which I think is super insightful. Then there's the free cash flow yield, which we— where we look at the 2-year average free cash flow and just the current free cash flow divided by enterprise value. You can see the actual stats. You can see here's the free cash flow over time. Pretty lumpy, but really strong here in the recent period. 2-year average free cash flow margin, which is free cash flow divided by revenue. The price to economic book value. You can see economic book value has been substantially above stock price here for a while. This divergence is very interesting. Value of the business, really value of the cash flow is going up while the stock price is going down. Very interesting. Here's the market implied growth appreciation period details. You can see it's less than 1 year. That makes sense. If the market price is implying the profits are going to decline, then there's no competitive advantage period awarded by the market. The market implied growth appreciation period is nonexistent because there is no growth implied by the stock price. That's why it's less than 1. And then the other thing that's really unique about our pro membership is we're going to show people where we make our adjustments, right? You can see here's GAAP net income. Here are all the adjustments that we make in order to calculate NOPAT, that key element in economic earnings. Remember I told you we do NOPAT and invested capital better than anyone else? This is why we show how we do it, because we want people to know we're doing the diligence. Same is true for all of our balance sheet adjustments. We show how we go from total assets down to invested capital and average invested capital. Those are the numbers, folks. We also show all of our valuation adjustments. $4.7 billion in Minority interest, $2.9 billion or so in debt. Overall, $9 billion in liabilities. And it's still got a great economic value. Institutional investors can go in and look in the details. Right here's one of my favorites. You can go in here and just say, okay, I want to see, I want to take a look at all the adjustments you're making. Deferred income taxes. Common stock costs. Any filing we've ever parsed. Here we go. Common stocks, sale of Toys R Us, right? These are the details. We show people where we get the data. That's why Harvard Business School, MIT Sloan, Bloomberg, Google, etc. That's why these firms work with us, because everything we do can be audited back to the source. All right, Kyle, if we don't have a ton of votes, Let's just pick some stocks you want to talk about. Let's say we did get one more. IRWD. IRWD. Ironwood Pharmaceuticals. Look at this. All right. Does not have the golden metric in place, but it does have the alpha metric in place. And it does have a very attractive rating. We like this. Pharmaceuticals. If this is biotech, I'm always a little, oh no, biotech. But because that's But typically biotechs have horrible profitability. So without knowing what Ironwood does, I would say this looks great. We just got a new 10-K and new forecast, got a strong beat, gap earnings distortion score. A lot to like about this stock. A lot to like about this. Good suggestion. All right, folks, we are a little bit over an hour. If you don't have any other questions, I'm going to wrap it up. Otherwise, thank you very much for being with us today. And like I said before, take advantage of this Super Alpha Stock Picks bundle because we don't know if ever we'll see an opportunity like this again. Thank you.