PM Images/DigitalVision via Getty Images Upstart ( UPST ) has had a busy past few months. From appointing their co-founder as Chief Executive Officer to applying for a national bank charter to doing an accelerated share repurchase program, the story is starting to have many characteristics to it. In the age of AI, this traditional lending marketplace is trying to transform into a risk-conscious pr...
PM Images/DigitalVision via Getty Images Upstart ( UPST ) has had a busy past few months. From appointing their co-founder as Chief Executive Officer to applying for a national bank charter to doing an accelerated share repurchase program, the story is starting to have many characteristics to it. In the age of AI, this traditional lending marketplace is trying to transform into a risk-conscious primary lender capable of structurally growing margins and transforming its business in short order. In my opinion, the Upstart story is interesting for the first time in years, and it could be the right time to get long in this high-risk lending marketplace. Business Profile Upstart is having its "AI" moment. After being a personal loan company for lower- and middle income consumers, it's rebranded to be the "leading artificial intelligence lending marketplace." Recently, the company has been saying they're using AI to more accurately quantify loan-level risk, which they refer to as "risk separation." Approximately 91% of their loans made during 2025 had no human interaction. The company offers personal loans like small dollar loans, auto loans, and even home loans in the form of HELOCs - home equity lines of credit. The company's loans are largely off-balance sheet, with 64% of total loan volume being off-balance sheet and 26% purchased by the company's lending partners. Only 10% of the loans they've made are on the balance sheet. These are largely for R&D purposes to better understand and train AI to improve underwriting. This is all a way of saying that they are a financial intermediary that makes loans and assumes some balance sheet risk. They generally lend to prime and subprime consumers, as indicated below. Investor Presentation Source: Investor Presentation Transaction volume has been growing nicely, compounding large growth rates quarter after quarter, best displayed below. Another notable stat is that conversion has largely improved coming out of last quarter. In Q...
There are a handful of major technological revolutions taking place right now that have the potential to attract trillions of dollars in capital. Investors looking for long-term capital appreciation would be smart to have at least some exposure to most of these trends. Fortunately, a single stock could provide access to all of them and more frontier technology opportunities: Alphabet (NASDAQ: GOOG...
There are a handful of major technological revolutions taking place right now that have the potential to attract trillions of dollars in capital. Investors looking for long-term capital appreciation would be smart to have at least some exposure to most of these trends. Fortunately, a single stock could provide access to all of them and more frontier technology opportunities: Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) . Image source: Getty Images. Continue reading
If you're planning to retire in 2027, there may be one pressing question on your mind: Do I have enough money? Retiring before you're ready financially could mean struggling to keep up with your costs or having to cut corners constantly. That's not a fun way to live. Image source: Getty Images. Continue reading
If you're planning to retire in 2027, there may be one pressing question on your mind: Do I have enough money? Retiring before you're ready financially could mean struggling to keep up with your costs or having to cut corners constantly. That's not a fun way to live. Image source: Getty Images. Continue reading
The Good Brigade/DigitalVision via Getty Images Short term, I am bearish about the housing market. All of the data is pointing toward worsening conditions. But as a value investor, I emphasize a long term orientation to the decisions that I make. This sometimes means buying even when fundamental performance for a business could worsen. One good example of this strategy in action happens to be my o...
The Good Brigade/DigitalVision via Getty Images Short term, I am bearish about the housing market. All of the data is pointing toward worsening conditions. But as a value investor, I emphasize a long term orientation to the decisions that I make. This sometimes means buying even when fundamental performance for a business could worsen. One good example of this strategy in action happens to be my ownership of the common shares and preferred shares of Hovnanian Enterprises ( HOV ) ( HOVNP ) . I own the preferred shares for the hefty distributions that they offer and the fact that the risk profile of them is quite low. I own the common shares because of how attractively priced the company will look once market conditions stabilize and show signs of recovery. It is not a baseless guess that market conditions will eventually improve. The fact of the matter is that even though we are seeing weakness in that market now, the long term picture is strong because of a large housing shortage and a continually growing population in the US. That's why I have no problem maintaining the company as a ‘strong buy’ candidate, just like I reaffirmed it as in December of last year. Since that time, the stock is up 14.1%, easily outperforming the 3.9% increase that the S&P 500 saw over the same window of time. Given the timing of when I purchased the stock, I am currently up only 5.2% on it. But eventually, I expect that situation to improve. Along the way, I am happy to see my return augmented by the preferred units, which I am currently up 17.8% on since acquiring them. Digging into Hovnanian Enterprises Fundamentally speaking, the housing market is not in a good place right now. New residential construction activity, for instance, is struggling. The most recent data that we have for it covers through January of this year. And compared to the same time a year earlier, housing completions were down 7.5%. It is true that housing starts happen to be up 9.5%. But this is almost certainly b...
⚽ All the latest ahead of a pivotal day’s football action ⚽ Ten things to look out for | Fixtures | Tables | Mail David Good morning everyone (shuffles papers and looks into camera while staff mill around in the background) and welcome to matchday live! We’re at the stage of the football season when every day seems significant, make-or-break, do-or-die. And that’s absolutely the case this very Sat...
⚽ All the latest ahead of a pivotal day’s football action ⚽ Ten things to look out for | Fixtures | Tables | Mail David Good morning everyone (shuffles papers and looks into camera while staff mill around in the background) and welcome to matchday live! We’re at the stage of the football season when every day seems significant, make-or-break, do-or-die. And that’s absolutely the case this very Saturday with three teams – Ipswich, Millwall and Middlesbrough – all having a shot at clinching the second automatic qualification spot from the Championship to the Premier League. At the very summit of the pyramid, Arsenal have the chance to pull six points clear when they host Fulham this evening. So there’s that and, quite frankly, an awful lot more. Let’s do this and, as always, get in touch with via the email at the top of the page! Continue reading...
STX, SIMO, and NXPI each surged after strong Q1 2026 earnings, but valuations and overbought technicals raise questions about remaining upside for each stock.
STX, SIMO, and NXPI each surged after strong Q1 2026 earnings, but valuations and overbought technicals raise questions about remaining upside for each stock.
JHVEPhoto/iStock Editorial via Getty Images Investment thesis Despite the significant run-up in Equinor's ( EQNR ) share price since the start of the year, I continue to see it as a buy. We are now in week ten of the ME energy crisis, meaning that significant damage has been inflicted on the global oil & gas inventory situation. Even after the crisis ends, it will probably take many months to see ...
JHVEPhoto/iStock Editorial via Getty Images Investment thesis Despite the significant run-up in Equinor's ( EQNR ) share price since the start of the year, I continue to see it as a buy. We are now in week ten of the ME energy crisis, meaning that significant damage has been inflicted on the global oil & gas inventory situation. Even after the crisis ends, it will probably take many months to see oil & gas flows return to normal. Equinor is Europe's largest natural gas provider, and it is also a major oil producer on the continent. All indications are that Europe's oil & gas storage levels will be among the most heavily depleted by the time this crisis ends. Furthermore, it still intends to completely phase out Russian oil & gas imports, which leaves Equinor in a stronger position on the European market. I see it benefiting from this situation for many years to come, which is why I decided to add recently to my already sizable position in this stock on the latest pullback. Maintaining a buy rating The last time I covered Equinor , it was the start of the Iran war nearly two months ago, at which point it was unclear whether it would be a lasting event or just a short-term disruption of energy and petrochemical flows from the ME region. We are now in week ten of the disruption, and with each passing day without a resolution to the crisis, we lose more oil, gas, and petrochemical supplies that the global economy depends on. The net effect on the global oil & gas market is set to last for the rest of the decade. Equinor is uniquely well-positioned as Europe's largest provider of natural gas, as well as its position as a major European oil producer, to take advantage of a market that will be far tighter than the North American market for years to come. Equinor share price & other metrics (Seeking Alpha) I mostly built up my Equinor stock position in 2025, turning it into my third core position in the oil & gas sector. I took some profits when it briefly went over $40/sha...
primeimages/iStock via Getty Images By Ryan J. Puplava Earnings Fireworks This week’s market direction was defined by one thing: earnings, particularly from mega-cap technology and AI-linked companies. The market entered the week already sitting near record highs, but leadership remained narrow and heavily concentrated in a handful of names. That dynamic was both reinforced and tested as results r...
primeimages/iStock via Getty Images By Ryan J. Puplava Earnings Fireworks This week’s market direction was defined by one thing: earnings, particularly from mega-cap technology and AI-linked companies. The market entered the week already sitting near record highs, but leadership remained narrow and heavily concentrated in a handful of names. That dynamic was both reinforced and tested as results rolled in. Early in the week, NVIDIA ( NVDA ) once again demonstrated its outsized influence. Despite broader semiconductor weakness, the stock gained 4% on Monday, helping stabilize the Nasdaq even as the PHLX Semiconductor Index declined. The semiconductor index was coming off huge momentum in the month of April, so it was no surprise to see some profit-taking. The tone shifted Tuesday as semiconductors sold off more aggressively, with the PHLX Semiconductor Index falling 3.6%. A key catalyst was a Wall Street Journal report that OpenAI missed internal revenue and user targets, raising questions about the sustainability of AI infrastructure spending. That news hit the entire AI ecosystem, dragging down companies like NVIDIA and AMD ( AMD ) while reinforcing concerns about whether current valuations are pricing in overly optimistic growth assumptions. By midweek, earnings began to reassert control. Visa ( V ) delivered a classic “beat and raise” quarter, sending shares higher and confirming that consumer spending remains resilient. Meanwhile, Robinhood Markets ( HOOD ) dropped sharply after missing expectations, illustrating how unforgiving the market has become toward companies that fail to deliver clean results. The real turning point came Thursday with a wave of mega-cap earnings. Alphabet ( GOOGL )( GOOG ) was the standout, surging nearly 10% after beating expectations across search, cloud, and advertising, with AI-driven demand clearly translating into revenue growth. Its results reinforced the bull case that massive AI spending is beginning to generate tangible return...
Chewy (NYSE: CHWY) stock has suffered in recent years, trading at a near 80% discount from its all-time high and almost 50% below its 52-week high. Nonetheless, Chewy has become a profitable business, and it has become increasingly apparent that the selling in the consumer discretionary stock is overdone. That may have made Chewy stock a buy for two reasons. Image source: The Motley Fool. Continue...
Chewy (NYSE: CHWY) stock has suffered in recent years, trading at a near 80% discount from its all-time high and almost 50% below its 52-week high. Nonetheless, Chewy has become a profitable business, and it has become increasingly apparent that the selling in the consumer discretionary stock is overdone. That may have made Chewy stock a buy for two reasons. Image source: The Motley Fool. Continue reading
The 34-year-old midfielder will leave Old Trafford after conclusively proving high-profile doubters wrong It was two years ago that Jamie Carragher offered Casemiro a rather withering piece of advice: “Leave the football before the football leaves you.” Fast forward to this season and the Brazilian’s record for Manchester United reads: nine goals (second only to Benjamin Sesko), two assists, and 2...
The 34-year-old midfielder will leave Old Trafford after conclusively proving high-profile doubters wrong It was two years ago that Jamie Carragher offered Casemiro a rather withering piece of advice: “Leave the football before the football leaves you.” Fast forward to this season and the Brazilian’s record for Manchester United reads: nine goals (second only to Benjamin Sesko), two assists, and 2,417 minutes played in 31 starts from a total of 32 appearances, with 13 games finished, including seven of the past nine. Consider, too, how the January announcement of Casemiro’s departure from United at the end of the current campaign has led to supporters pleading with the 34-year-old to stay, and that Casemiro is again a midfield first-choice for his national team in the buildup to a World Cup. Continue reading...
The once inexorable rise in retiree living standards since the second world war has broken down. Can we keep the dream alive for future generations? When you think of retirement, what comes to mind? Perhaps it is images of older people enjoying a well-deserved period of leisure and comfort in the final stretch of their lives. Cruise ships, garden centres, golf clubs and bungalows by the sea. The t...
The once inexorable rise in retiree living standards since the second world war has broken down. Can we keep the dream alive for future generations? When you think of retirement, what comes to mind? Perhaps it is images of older people enjoying a well-deserved period of leisure and comfort in the final stretch of their lives. Cruise ships, garden centres, golf clubs and bungalows by the sea. The truth is that this image is now, in large part, the artefact of a bygone age. A long and comfortable retirement starting at 60 or 65 is beginning to look like a collective social experience whose moment has passed. The political and economic forces it relied upon appear to have run their course – and it’s time to start thinking about what comes next. Retirement in Britain has a surprisingly short history, underpinned by dramatic improvements in older people’s quality of life over the past 50 years. Large public and private bureaucracies first started to enrol long-serving employees into pension schemes from the mid-19th century. In 1909, Britain was the first country to pioneer an old age pension, funded by the state and targeting the poorest, who could claim it from the age of 70. But it was only after the second world war that a period of leisured old age become an ordinary expectation for most British workers. Helen McCarthy is a historian and the author of Double Lives: A History of Working Motherhood Continue reading...
Breton brewer forced to stop selling craft beer after Beatles singer’s widow registered lemon name to stop him being mocked A Brittany brewer is in a squeeze after Yoko Ono ordered him to stop selling a bestselling craft beer labelled John Lemon. The Japanese-American artist and widow of the Beatles star John Lennon claimed it was a breach of a trademark she had registered a decade ago to stop her...
Breton brewer forced to stop selling craft beer after Beatles singer’s widow registered lemon name to stop him being mocked A Brittany brewer is in a squeeze after Yoko Ono ordered him to stop selling a bestselling craft beer labelled John Lemon. The Japanese-American artist and widow of the Beatles star John Lennon claimed it was a breach of a trademark she had registered a decade ago to stop her late husband being mocked, his name misused and his reputation sullied. Continue reading...
England head coach survived Ashes review but going missing for 43% of the county season is straight out of Seinfeld George: Right now I just sit around pretending I’m busy. Jerry: How do you do that? George: I look annoyed. Think about it. When you look annoyed all the time, people think you’re busy. [Rolls his eyes, slaps his forehead, does look busy.] Does anyone remember Brendon McCullum? You k...
England head coach survived Ashes review but going missing for 43% of the county season is straight out of Seinfeld George: Right now I just sit around pretending I’m busy. Jerry: How do you do that? George: I look annoyed. Think about it. When you look annoyed all the time, people think you’re busy. [Rolls his eyes, slaps his forehead, does look busy.] Does anyone remember Brendon McCullum? You know. Baz. It was a thing. People said “Bazball” in parliament. It was probably in the dictionary, one of those new zeitgeisty words, like rofl. Distinguishing marks? Hat. Jawline. A way of standing. Sports socks provocatively splayed on an ornate balcony. Look, it doesn’t really matter. But has anyone actually … seen him? Continue reading...
Midfielder broke a Barça Dutch record last week and is potentially one win from a third league title with team he visited as a teenager for fun A warm sun bathes the Barcelona training ground as Frenkie de Jong arrives to chat. The midfielder’s work is done for the day and the Netherlands international is in his comfort zone here, the first team’s longest-serving player, a regular captain and effo...
Midfielder broke a Barça Dutch record last week and is potentially one win from a third league title with team he visited as a teenager for fun A warm sun bathes the Barcelona training ground as Frenkie de Jong arrives to chat. The midfielder’s work is done for the day and the Netherlands international is in his comfort zone here, the first team’s longest-serving player, a regular captain and effortlessly fluent in Spanish. It is a far cry from the day just over 10 years ago when he visited the Camp Nou. In late December 2015 De Jong made the most of the Eredivisie’s winter shutdown to take a city break in Barcelona with his now wife, Mikky. He was 18 and days from linking up with Ajax, who had signed him four months earlier but loaned him back to Willem II, and he managed to get tickets for Barcelona v Real Betis. It is an occasion that stuck in his mind. Continue reading...
‘Targeted support’ means certain banks and financial institutions can offer free extra help with investments and pensions Many Britons are daunted by the world of investing, but new City rules mean certain banks and financial institutions can offer free extra help with investments and pensions. Last month marked the launch of “targeted support”, a new regulated service that permits companies to su...
‘Targeted support’ means certain banks and financial institutions can offer free extra help with investments and pensions Many Britons are daunted by the world of investing, but new City rules mean certain banks and financial institutions can offer free extra help with investments and pensions. Last month marked the launch of “targeted support”, a new regulated service that permits companies to suggest investments and pension products to customers that might provide a better return. Continue reading...
ByteDance, the Chinese owner of TikTok, is pushing deeper into artificial intelligence with Anew Labs, a drug-discovery unit that has begun presenting its AI-designed therapies at international conferences. The unit – also known as Anew Therapeutics or ByteDance AI Drug Discovery – operates from Shanghai, Singapore and San Jose, California. Its official website listed 36 core members, as well as b...
ByteDance, the Chinese owner of TikTok, is pushing deeper into artificial intelligence with Anew Labs, a drug-discovery unit that has begun presenting its AI-designed therapies at international conferences. The unit – also known as Anew Therapeutics or ByteDance AI Drug Discovery – operates from Shanghai, Singapore and San Jose, California. Its official website listed 36 core members, as well as big names on its “scientific advisory board”: Liu Yongjun, former president of Innovent Biologics, Ji...