This is how I think, not advice. I am not a licensed advisor, I sat the CFA Level I and did not pass it, and you should do your own work before you risk your own money.
In the gold rush, the people who reliably made money were not mostly the ones panning for gold. They were the ones selling the picks and the shovels and the denim. The miners took the lottery odds. The suppliers took a smaller, steadier cut of everyone who showed up.
I look at the AI boom the same way. I do not know which model or which app wins, and I am suspicious of anyone who says they do. What I am more comfortable owning is the layer underneath that gets used no matter who wins. The compute, the chips, the power, the plumbing.
Why this fits how I sell
It is the same instinct as my discovery calls. I would rather find the durable problem than chase the exciting story. A model can be replaced in a month. The need for the infrastructure under it does not go away that fast.
What I avoid
The thing that is one announcement away from going to zero. The story stock I cannot value. The trade I only understand because someone confident explained it to me. If I cannot say in one sentence why the cash flow is real, I do not own it.
I would rather understand why a number moved than memorize the number.
That is the whole thesis. Boring on purpose. Own the shovels, skip the lottery ticket, and stay invested long enough for boring to compound.