The past year has been a blockbuster one for fans of financial market acronyms. Taco, which stands for ‘Trump always chickens out’ and dominated much of 2025, continues to cause investors whiplash as they follow developments in the Middle East.
More recently, Halo (‘heavy assets, low obsolescence’) emerged as a way to describe sectors that are less vulnerable to the perceived AI threat than those such as software.
A variation on this second theme is Pace (‘physical assets, compounding earnings’), which entails not just owning complex, tangible assets, but astutely operating them to consistently grow shareholder earnings and dividends.
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