| Date | Ticker | Direction | Thesis | Source |
|---|---|---|---|---|
| Feb 17, 2026 | AVOID | Qu notes that sectors with "structured data" like the legal space are "more prone to disruption with Large Language Models." Unlike construction (physical/vertical), legal work involves processing text/data—the exact capability where AI excels. This makes current legal tech incumbents highly vulnerable to displacement by cheaper AI agents. AVOID/SHORT Legal Tech. Regulatory moats protect incumbents longer than expected. |