What is HALO business? The hottest new investment framework in 2026! HALO = Heavy Assets, Low Obsolescence Heavy assets, low risk of obsolescence The meaning is: Having a large number of physical factories, energy networks, stores, oil fields, infrastructure and other "heavy assets", and these assets are almost impossible to be replaced by AI with just one click! No matter how strong AI is, it cannot defeat Exxon's oil fields, Walmart's logistics network, or Bugatti's supercar factories. That's why HOF is betting on Anthropic (AI) while buying Bugatti - the classic AI+HALO double bar strategy! In the era of AI, don't just chase light asset technology stocks, HALO is the true "unbeaten barrier" to resist the decline. Which type of HALO asset do you have a positive outlook on? These examples are from the 2026 Wall Street discussion (including analysis by Josh Brown and Goldman Sachs) 1. Energy&Resources ExxonMobil, Valero, Phillips 66, Diamondback Energy: possessing vast oil fields, refineries, pipelines, and global supply chains. No matter how powerful AI is, it cannot dig up oil or build a new refinery (which requires decades of permits and capital). These are typical heavy assets that AI cannot defeat. Newmont (Mining): Physical mining sites such as gold and copper mines, with mining rights and geological assets serving as long-term moats. 2. Industries&Machinery Caterpillar: Producing heavy equipment such as excavators and bulldozers, factories, supply chains, and global distribution networks are huge physical assets. Josh Brown referred to it as the 'Essential HALO Company'. John Deere: Tractor and agricultural equipment manufacturing, with physical production lines and long cycle technology, AI cannot replace real machines in farmland. Baker Hughes: Oilfield service equipment, physical drilling tools, and infrastructure. 3. Logistics&Transportation FedEx, CSX, Union Pacific (railway): a vast logistics network, truck fleets, railway tracks, and warehouse systems. These physical transportation assets that you still need on Monday morning, AI can only optimize routes and cannot replace rails or planes. Delta Airlines: aircraft fleet, airport infrastructure, and route rights. 4. Consumer&Brick and Mortar • Walmart、McDonald’s、Starbucks、Hershey： In addition to the brand, there are also global stores, supply chains, real estate, and cold chain logistics. AI ordering food delivery is easy, but it cannot build tens of thousands of physical stores. 5. Infrastructure&Utilities The power grid, oil pipelines, and telecommunications infrastructure (such as Verizon): These are national level heavy assets that are difficult to license and expensive to build, and AI cannot "virtualize" a power plant or fiber optic network. Goldman Sachs emphasizes that these are HALO cores. Prologis (Warehousing REITs): Large logistics warehouses and industrial real estate always require physical space.