Maria Municchi 5.0 1 idea

Municchi stated her fund has been "underweight the U.S." and that U.S. equities have gone "sideways for many months," adding that the AI sector is "not going to be completely insulated" from energy-driven supply chain impacts. The U.S. market, including tech, is expensive, has shown poor momentum, and is not immune to the macro shock of higher energy prices and tightening financial conditions. U.S. equities offer unattractive risk/reward and should be underweighted. The U.S. economy demonstrates exceptional resilience, decoupling from global energy shocks.