📶 rackets and returns

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Good morning 👋

We’re officially back. God bless Trump, and God bless the US.

Switching gears - today we’re talking niche sports and private equity.

Let’s get into it.

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Today’s highlights

• PE is betting big on niche sports

• Coatue is raising $1b for AI bets

• 14 ideas from Buffet and Munger

• Chart: Distribution > product