Update: 02-26-24

Data is New Gold!   Issachar Update: We are nearly fully invested in growth stocks with great fundamentals exhibiting technical chart patterns of institutional accumulation. I plan to increase exposure as stocks break out of sound bases from proper pivot prices. We are well-positioned to benefit from the artificial intelligence (AI) revolution that could last a decade. AI and software-related stocks could have better results than the Internet and smartphone bubbles, and we are just getting started. I will do my best to find game-changing stocks that benefit humanity and prosper shareholders. Thank you for trusting me to be a good steward of your hard-earned assets. (There is no guarantee that any investment will achieve its objectives, generate positive returns, or avoid losses.)

Market Update: After hot CPI and PPI numbers, FedWatch predicts the Fed will cut rates three times in 2024, starting in June! This is the mark of a strong economy, at least for now. The Fed continues to reduce its balance sheet (QT, monetary policy), but the government continues to spend (QE, fiscal policy) more than the balance sheet reduction. It is estimated that $21 billion of NET new money is injected into the economy monthly. In other words, total QE exceeds QT by more than $21 billion / month. That might explain why some stocks keep making new highs after extended runs.

NVDA blew past expectations when it reported quarterly results after Wednesday’s close. Sales, earnings, and guidance were better than analyst forecasts, so the AI tide lifted more AI-related stocks. Disrupting faster chips will increase efficiency and cause human displacements. Companies that make AI chips, software, and hardware will continue to attract institutional money as their analyst better understand the AI revolution. Data could be the new gold. The IA genie is out of the bottle and not returning, so we must embrace and adapt.

Cyber security is a global threat that is not going away, so companies protecting against “bad actors” wanting to harm should benefit in this new world. Medical stocks could do well as AI offers mind-blowing cures and disease treatments faster than humans dreamed. Defense and aerospace stocks will likely continue to garner huge profits as wars continue to escalate around the globe. Retail stocks continue to trend higher as consumers fight inflation, maxing out credit cards to maintain their current lifestyles.

Bottom line: We are early in the AI game, and cyber security, defense/aerospace, medical, and retail stocks should do well in this environment. Monetary policy (QT) is not accommodating, but fiscal policy (QE) is off the charts as government overspending floods the market, causing a high tide lifting many boats. If inflation reaccelerates, the Fed may not be able to lower rates, and the market will not be happy, which is why I actively manage risk. Thanks for your trust and business, and may God’s Grace and Peace bless you!

May grace and peace be multiplied to you in the knowledge of God and of Jesus our Lord. 2 Peter 1:2

Investors should carefully consider the investment objectives, risks, charges, and expenses of the Issachar Fund. This and other important information about the Fund are contained in the Prospectus, obtained by calling 1-866-787-8355 or visiting IssacharFund.com. The Prospectus should be read carefully before investing. The Issachar Fund is distributed by Northern Lights Distributors, LLC., a member of FINRA/SIPC. Horizon Capital Management Inc. (HCM) is not affiliated with Northern Lights Distributors, LLC.

Important Risk Information: Mutual Funds involve risks, including the possible loss of principal. An investment in the Fund may not be appropriate for all investors. The Fund may hold cash positions when the Adviser feels that the market is not producing returns greater than the short-term cash investments in which the Fund may invest. There is a risk that the sections of the market in which the Fund invests will begin to rise or fall rapidly, and the Fund will not be able to sell stocks quickly enough to avoid losses or reinvest its cash positions into areas of the advancing market quickly enough to capture the initial returns of changing market conditions. The Adviser’s judgment about the attractiveness, value, and potential appreciation of particular asset classes and securities in which the Fund invests may prove incorrect and may not produce the desired results. Past performance is no guarantee of future results. Ratings are only one form of Fund performance and should not be used as the sole consideration in an investment decision. Opinions expressed are subject to change, not guaranteed, and should not be considered investment advice. There is no assurance these opinions or forecasts will come to pass, and past performance is no assurance of future results. For more information regarding the Fund, including current performance, please visit IssacharFund.com. 3190-NLD-02/26/2024

Dexter Lyons, Portfolio Manager
Issachar Fund (LIONX & LIOTX)
Buy Issachar Fund @ Schwab, Fidelity, or
Strategy, My Story, Biblically Responsible Investing (BRI)

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