The author is bullish on Nvidia's potential to benefit from the AI boom, citing the company's competitive moat through its CUDA platform. CUDA allows general computing on Nvidia's GPUs and has seen exponential growth with over 4 million developers, 3,000 applications, and 40 million downloads historically. Many deep learning frameworks rely on CUDA for GPU support, giving Nvidia a significant competitive advantage. The company has demonstrated impressive revenue growth, with revenues forecasted to soar by 51.4% this fiscal year and by another 25.5% in the following year. NVDA's strong return on invested capital, net cash, and free cash flow margin underlines the strength of the company's balance sheet. While NVDA's valuation multiples are above the S&P 500's averages, the PEG ratio for FY2 suggests that the company is fairly valued on a growth-adjusted basis. The low short interest in NVDA's stock further strengthens the bull case for the company.

Dorchester Minerals, L.P. has an asset-light business model that has resulted in high returns on invested capital (ROIC) and profitability. The company has outperformed its industry group and the wider energy industry in the last five years, with a unit price increase of over 58% and a total unitholder return of 175.6%. Dorchester's investment needs are low, with acquisitions, capex, and depreciation & amortization largely remaining below 20% of total assets. The company's historically high FCF levels give it an edge in beating the market, and its de-risked business model makes it an important source of income for income-seeking investors. Dorchester's P/E ratio is lower than the S&P 500 but higher than the industry group P/E ratio, and its FCF yield is 14.41%, indicating that its FCF is trading at a cheaper price than its industry group.

Trinity Industries Inc is an established company in the industrial manufacturing sector, with a primary focus on the rail transportation industry. The company had a successful start to the year with growing revenue 36% YoY, mainly driven by an increase in production and further optimization of the business. The lease fleet stood at 98.2% for the quarter, and margins were also increasing, making the CEO optimistic about lease rates continuing to increase this year. The market for rail seems to remain strong despite ongoing fears of a recession and slowdown in the economy. With a dividend yield of over 4% and a solid history of buying back shares, the author thinks TRN is a strong addition to most investors' portfolios. However, the cash position compared to long-term debts is not ideal, and the net debt/EBITDA ratio is currently above 11, which is a little worrying. Risks include failing to capture market share in the rail industry and a potential slowdown in orders. The author rates TRN a buy at these levels.

Stericycle, Inc. is a market leader in regulated waste and information destruction compliance-based solutions globally. The company has a large customer base and has revamped its Board of Directors and managerial team. The management team has executed initiatives such as small-customer pricing settlements, product and service rationalization, and balance sheet improvements. The ERP implementation in the largest segment is expected to deliver operating efficiencies and margin upside over time. Stericycle was negatively impacted by the pandemic but is positioned for significant margin expansion over the next several years. The company is expected to continue improving customer retention rates and cross-selling opportunities. Stericycle is undervalued, trading at a 46% discount to the author's valuation.

Madison Square Garden Entertainment (MSGE) is a leader in live entertainment with assets such as Madison Square Garden, Hulu Theater, Radio City Music Hall, Beacon Theatre, The Chicago Theatre, and the Christmas Spectacular Starring the Radio City Rockettes. MSG Sphere, an immersive venue for concerts and shows in Las Vegas, is set to open soon. MSGE also runs MSG Networks, home of the NY Knicks and NY Rangers. The company will soon spin off its live entertainment business to be named Madison Square Garden Entertainment Corp. (MSGE) and the remaining entity will be known as Sphere Entertainment Co. (SPHR). The board believes two separate publicly traded entities will offer investors better disclosure to properly value the businesses. Pre-market spinoff sentiment is positive on MSGE given the expected cash flow from its iconic venues and the board's $250 million share repurchase program. However, pre-market spinoff sentiment is soft on SPHR due to cost overruns in constructing the Sphere and the risks associated with filling such a unique, fully immersive entertainment experience. The author remains optimistic that MSGE will exceed expectations, and spinoffs can create substantial shareholder value over the long run. With an estimated private market value of $102.86 (191% above the current price), MSGE is also trading at a 43% discount to its March 31, 2023 price of $59.07.

The article discusses the benefits of investing in listed credit funds, particularly CLOs, and presents a bullish argument for them. The author argues that CLOs are not inherently risky and are currently structured more conservatively than before 2008. They have diverse portfolios of loans that span many industries, making them less susceptible to economic downturns. Historically, defaults on CLOs are very low, and retail investors can participate in the market underpinning CLOs via various investment vehicles. The article also discusses the Blackstone Loan Financing Limited (BGLF) fund, which invests in the safest portion of the leverage loan market and offers high annualized dividend yields. However, weaknesses include concerns over the rise of covenant-lite loans, the negative impact of a recession on BGLF/BCF investments, and the inability to extend reinvestment periods due to market conditions. The article also provides a list of interesting debt funds and advises readers to do their research before investing in investment trusts.

Domino's Pizza had a successful turnaround story after the 2008 financial crisis, but its stock has dropped due to pandemic-related dynamics and increased competition. Despite this, Domino's has a wide competitive moat, impressive franchise-level EBITDA, strong store-level sales, and a 99% annual franchisee retention rate. The company has fared well internationally, with a great deal of growth coming from foreign markets, particularly in Latin America. Falling commodity prices and the Fed's rate hiking policy may improve margins and reduce wage increases at Domino's locations. Former CEO Patrick Doyle emphasized the importance of taking risks and pursuing new ideas, which has contributed to Domino's success. While DPZ stock may be undervalued if the company returns to double-digit EPS growth next year, a 20x P/E ratio may not be appropriate given its high-quality business model, strong growth, and stable cash flows.