The CEO of a $7.8 billion asset manager says his firm is investing in three companies poised to drive transformative advancements in healthcare, financial data and AI.
Aureus Asset Management chief executive Thad Davis tells Barron’s that his firm has piled into Thermo Fisher Scientific (TMO), believing that the firm is in a position to become the “Amazon-type” supplier for healthcare firms.
“It provides all the materials, equipment and supplies a lab environment would need. If you ever watch the dollies that come in and out of a hospital or biotech building, they are loaded with Thermo Fisher equipment.”
The next pick is Applied Materials (AMAT), which plays a critical role in the development of powerful chips amid the explosion of artificial intelligence (AI).
While Nvidia currently leads in chip manufacturing, Davis says Applied Materials is essential across four critical stages of chip production, ensuring its equipment remains indispensable for leading-edge chip development, driving significant long-term demand regardless of which company ultimately dominates the market.
Lastly, Davis says the firm is a believer in S&P Global (SPGI), noting that it holds a dominant position in the credit ratings market alongside Moody’s, forming a near duopoly.
Overall, Davis also says that Aureus is keeping a close watch on three investment areas that have the potential to become “massive disruptors,” including AI, blockchain along with crypto and GLP-1 drugs – medicines designed to treat diabetes and obesity.
“Each taken separately has the capacity to profoundly disrupt various industries. But some taken together could have the same impact. GLP-1s and AI might be amazingly helpful in revolutionizing therapeutic developments, for example.”
Aureus is a Boston-based wealth management firm serving high-net-worth individuals, families and institutions.
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