Sitara Sundar 1.5 2 ideas

Sundar states they have "been telling clients to lean into gold as a diversifier," noting it's not just a geopolitical hedge but could serve as a diversifier over the long run. In a regime of high volatility across asset classes, gold offers a non-correlated return stream and maintains its historical role as a store of value. LONG as a strategic portfolio diversifier, not just a tactical hedge against the current Middle East conflict. Rising real interest rates or a sustained risk-on market rally could dampen gold's appeal.

The market is shifting from "SaaS" to "Service as Software." Seat-based pricing models are at risk as AI agents reduce headcount. Software companies relying on "per-seat" pricing will suffer as companies hire fewer people due to AI efficiency. The winners will be "usage-based" models and infrastructure layers (Hyperscalers/Utilities) that power the AI itself. Avoid legacy seat-based SaaS; Long usage-based/infrastructure software. AI adoption slows, preserving the legacy seat-based model longer than expected.