Alternative Investing Report - March 27, 2026

*as of 3/26; Sources: S&P, BTC, FTSE, DJRE, 30YM

SAP (NYSE: SAP)
Current share price: $166.82 ($205.95 billion market cap)

• Its price has gotten crushed because investors are negative on software right now, so it’s trading at or below its Morningstar fair value estimates

• It has very predictable cash flow and it has consistent, steady revenue generators

• The cloud business has a big moat

• It’s heading towards generating a 10 billion euro free cash flow this year

• The average price target is around $340 per share

• It’s a cheap stock and it’s growing

Here’s a list of our past expert investment picks.

Anthony Scaramucci is the founder and managing partner of SkyBridge, a global alternative investment firm, and founder and chairman of SALT, a global thought leadership forum and venture studio.

Scaramucci served on President Donald J. Trump’s Presidential Transition Team Executive Committee in 2016 before serving briefly as White House Communications Director.

Scaramucci, a native of Long Island, New York, holds a Bachelor of Arts degree in Economics from Tufts University and a Juris Doctor from Harvard Law School.

In the newest episode of Smart Humans, Slava Rubin talks with Orchard Global CEO Paul Horvath about Europe v. the U.S. and current macroeconomic trends.

🏡 Mortgage rates climbing: The Freddie Mac average 30-year fixed mortgage rate jumped 16 basis points to 6.38%, the largest one-week increase since last April. It has now risen 40 basis points in the last month, when it dipped below 6% for the first time since 2022. The war in Iran is largely to blame for the reversal, and the longer it drags on, the longer rates could remain elevated.

🏢 Blackstone’s $10 billion deal: The asset management giant is reportedly acquiring data center provider Rowan Digital Infrastructure in a $10 billion deal, as it continues to commit capital to AI infrastructure bets.

🪙 Crypto-backed mortgages: Fannie Mae will start accepting crypto-backed mortgages for the first time, allowing homebuyers to hold their crypto rather than sell it for cash. Both the mortgage company Better Home & Finance and crypto exchange Coinbase will offer the Fannie Mae-approved mortgages.

🚀 X-Energy files for IPO: The nuclear energy startup filed a draft registration statement with the SEC, and intends to go public on the Nasdaq with the ticker XE. No details have been released yet, but the company raised $700 million last November at an undisclosed valuation.

💵 Ares private credit loss: In addition to limiting investor withdrawals, the Ares Strategic Income Fund posted its largest monthly loss on record, dropping 0.68% in February as the downturn in private credit continues.

🤖 Reflection AI fundraise: The Nvidia-backed AI startup is now reportedly raising $2.5 billion at a $25 billion pre-money valuation, up from the $20 billion mark it had been targeting earlier this month and more than triple its last valuation of $8 billion.

Monday: ❗Iran war market downturn, 🚀 Defense tech IPO prospects
Tuesday: 🚀 VCX keeps pumping, 💵 BCRED posts loss
Wednesday: 🎰 Prediction market headwinds, 🪙 Morgan Stanley Bitcoin ETF
Thursday: 💵 Private credit woes, 🚀 SpaceX IPO incoming

Have a great weekend!