SNER: Oracle
The Single Name Equity Reports (SNER) are aiming to provide high quality research for existing positions and future positions with a macro overlay, in due time models and data analytics will be added to the www.globalmacromethod.com website for paid subs in a dedicated ‘SNER’ section.
Oracle has become one of the more interesting stocks in the market because the debate is no longer about whether the company is relevant. It clearly is. The real question is whether the equity now offers enough compensation for the balance-sheet risk that comes with becoming an AI infrastructure platform.
I come into this with a bias. I already own Oracle (long at 144.25 on 3rd of March 2026) and my instinct is to want to be long good enterprise software businesses with durable customer relationships. But that bias is exactly why I need to be disciplined here, given the recent rise and fall. Oracle is not simply a database-and-maintenance compounder anymore. It is now a leveraged AI capacity build-out with a software franchise attached to it. That can work very well, but it deserves a different underwriting framework.
GMM is leveling up with Macro and now Single Name Equities, The team is now 3 people and growing. We are just getting started!
