One challenge when investing in any developing technology, including crypto, is imagining how technological breakthroughs might translate into real-world value. Blockchain, the tech behind Bitcoin and various forms of decentralized finance (DeFi) , is a great example. Decentralization -- cutting out middlemen such as banks and central governments from finance -- is a big blockchain innovation. Ima...
One challenge when investing in any developing technology, including crypto, is imagining how technological breakthroughs might translate into real-world value. Blockchain, the tech behind Bitcoin and various forms of decentralized finance (DeFi) , is a great example. Decentralization -- cutting out middlemen such as banks and central governments from finance -- is a big blockchain innovation. Image source: Getty Images. But adoption has been slow for a host of reasons. Mainstream blockchain adoption would require enormous changes to current financial systems, including regulatory, human, and infrastructure shifts. Trust is also a significant factor. It was a huge technical achievement to create money that doesn't rely on intermediaries, but many consumers like using a trusted, regulated bank to manage their money. Continue reading
bigtunaonline/iStock via Getty Images China Automotive Systems Inc ( CAAS ), a supplier of power steering components and systems for the automotive industry, continues to move sideways, a holding pattern the stock has been stuck in for over a year. Furthermore, growth prospects for CAAS has become more clouded with recent events in the Middle East, which could adversely affect growth, but which co...
bigtunaonline/iStock via Getty Images China Automotive Systems Inc ( CAAS ), a supplier of power steering components and systems for the automotive industry, continues to move sideways, a holding pattern the stock has been stuck in for over a year. Furthermore, growth prospects for CAAS has become more clouded with recent events in the Middle East, which could adversely affect growth, but which could also boost growth, depending on how events unfold. However, long CAAS is still the way to go, something the recent release of the last quarterly report for FY2025 on April 22 seems to concur with. CAAS looks stuck In my January 2026 article, I mentioned the failed attempt on the part of CAAS to overcome resistance, which had kept the stock contained for quite some time. This latest attempt several days earlier was not the first one, but the most recent one in a series of unsuccessful attempts by CAAS to attain a market cap beyond a certain level. However, while it was discouraging to see CAAS contained, there were also multiple reasons why CAAS had the potential to trade higher than it did at the time. Accordingly, I decided to rate CAAS a buy in the article. Source: Thinkorswim app The chart above of the past two years shows how CAAS failed to get past the $4.80-5.20 price region in January after reaching a 2026 high of $4.98, which was the most recent one in a series of failed attempts going all the way back to October 2024. Still, CAAS is up for the year with a YTD gain of 4.9% thanks to a move higher in the stock after the release of the Q4 FY2025 report on April 22, which erased earlier losses in the stock, losses that coincided with the outbreak of hostilities in the Middle East and the impact that had on stock markets. Source: Thinkorswim app The chart above of the past 12 months suggests CAAS is currently in a holding pattern. Note how the recent highs are trending lower, while the recent lows are trending higher. If all the low and highs are then connected with...
METR, which stands for Model Evaluation and Threat Researc, is focused on understanding the degree to which AI models can engage in autonomous, complex tasks. METR see this is as a particularly important benchmark, given the risk that AI could one day be engaged in recursive self improvement, taking humans out of the loop. But how do you really gauge a model's ability to do complex problems. And w...
METR, which stands for Model Evaluation and Threat Researc, is focused on understanding the degree to which AI models can engage in autonomous, complex tasks. METR see this is as a particularly important benchmark, given the risk that AI could one day be engaged in recursive self improvement, taking humans out of the loop. But how do you really gauge a model's ability to do complex problems. And what is being measured for exactly? On this episode we speak with METR's President Chris Painter as well as Joel Becker, a member of the technical staff who works on evaluation methods for the organization. We discuss both the mechanics and the philosophy of METR's work, and what it means when we see a a chart showing that Clause Opus 4.6 can do a task that would take a human nearly 12 hours. (Source: Bloomberg)
Financial markets, stock markets especially, appear able to defy gravity despite the global geopolitical and economic situation. A plethora of institutional and individual explanations have been offered as to why, but most seem to miss the point. Which is, at least in part, that we have created a kind of monster in the asset management industry, which channels a glut of global savings into a limit...
Financial markets, stock markets especially, appear able to defy gravity despite the global geopolitical and economic situation. A plethora of institutional and individual explanations have been offered as to why, but most seem to miss the point. Which is, at least in part, that we have created a kind of monster in the asset management industry, which channels a glut of global savings into a limited number of investment areas and which, by virtue of these captive inflows, is able to maintain...
BlackJack3D/iStock via Getty Images Bitcoin ( BTC-USD ) has become a mainstream consideration for long-term investors. Here is what investors should know before adding crypto exposure to a retirement account. For years, Bitcoin lived outside the traditional investment conversation. It was too volatile, too complex, and too unfamiliar to belong alongside stocks and bonds in a retirement portfolio. ...
BlackJack3D/iStock via Getty Images Bitcoin ( BTC-USD ) has become a mainstream consideration for long-term investors. Here is what investors should know before adding crypto exposure to a retirement account. For years, Bitcoin lived outside the traditional investment conversation. It was too volatile, too complex, and too unfamiliar to belong alongside stocks and bonds in a retirement portfolio. That has changed. With the approval of spot Bitcoin ETFs in the United States, the maturation of the digital asset market, and growing institutional recognition of Bitcoin as a potential store-of-value asset and portfolio diversifier, a meaningful number of investors are now asking whether crypto belongs in their retirement account. Since their January 2024 launch, U.S. spot Bitcoin ETFs have attracted approximately $96.5 billion in assets under management as of April 2026, reflecting significant institutional and retail adoption of regulated crypto exposure (Source: CMC Crypto News, April 15, 2026). The answer for any individual investor depends on their goals, risk tolerance, and how they structure the allocation. To understand the broader investment rationale for Bitcoin, including its potential role as a store of value and inflation hedge, start with VanEck’s full overview. To understand the broader investment rationale for Bitcoin , including its potential role as a store of value and inflation hedge, start with VanEck’s full overview. Why Are Investors Putting Crypto in Retirement Accounts? The retirement account conversation around crypto has accelerated as Bitcoin has grown into a significant and growing asset class held by institutional investors, sovereign wealth funds, and major corporations, among others. Its fixed supply, decentralized structure, and growing adoption as a potential store of value have prompted some investors to consider whether a small allocation may complement traditional assets in a long-term portfolio. The macro environment has also brought ...
Miladin Pusicic/iStock via Getty Images Oncolytics Biotech Inc. ( ONCY ) is a clinical-stage biotechnology company focused on building a platform around its asset called Pelareorep (Pela). This is essentially a reovirus for the treatment of gastrointestinal cancers such as anal, colorectal, and pancreatic malignancies. ONCY is testing this candidate in combination with chemotherapy and/or checkpoi...
Miladin Pusicic/iStock via Getty Images Oncolytics Biotech Inc. ( ONCY ) is a clinical-stage biotechnology company focused on building a platform around its asset called Pelareorep (Pela). This is essentially a reovirus for the treatment of gastrointestinal cancers such as anal, colorectal, and pancreatic malignancies. ONCY is testing this candidate in combination with chemotherapy and/or checkpoint inhibitors. Currently, ONCY is narrowing its priorities toward anal cancer and metastatic colorectal cancer and stepping back from the pancreatic indication. In that sense, management is now optimizing its resources so they can reach some critical near-term milestones. Yet, I think this makes ONCY’s bull case much more concrete than before, which is why I feel it’s a viable speculative “Buy” at these levels. Pelareorep’s GI Oncology Platform Oncolytics Biotech Inc. is a clinical-stage biotechnology company that develops pelareorep as a platform for gastrointestinal malignancies, including pancreatic, colorectal, and anal cancer. To give you an idea, Pelareorep is being tested in combination with chemotherapy and checkpoint inhibitors (CPI). ONCY was founded back in 1998 in Calgary, Canada, and it’s currently headquartered in San Diego , California. Interestingly, ONCY is closing in on some significant milestones that could become major catalysts for the stock, which is why I felt it was worthwhile covering this name. Source: Corporate Presentation, March 2026 As a quick overview, Pelareorep is technically a reovirus , also known as Pela. This candidate can be administered through an IV to help the immune system recognize and attack a tumor. For context, tumors that don’t provoke a reaction from the immune system are considered “cold.” So, Pela infects those tumor cells and kills some of them in the process. However, the most important aspect is that by infecting them, it also creates inflammation inside the tumor itself, turning it from “cold” to “hot.” This is Pela’s ma...
Key PointsThe annualized returns of the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite are higher under President Trump than under most other presidents since the late 1890s.
Key PointsThe annualized returns of the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite are higher under President Trump than under most other presidents since the late 1890s.
Shares of The Trade Desk have collapsed from their one-year high. But if momentum continues to improve, the setup could quickly turn against bearish bets.
Shares of The Trade Desk have collapsed from their one-year high. But if momentum continues to improve, the setup could quickly turn against bearish bets.
Police have dismantled a motorcycle theft syndicate and arrested five people, believed to be linked to 14 cases across Hong Kong, amid a rise in such crimes in the first quarter of the year. Senior Inspector Fu Ho-shing of the Kowloon West regional crime unit said on Saturday that the group primarily targeted motorcycles parked in back alleys or secluded areas in West Kowloon and Tsuen Wan, where ...
Police have dismantled a motorcycle theft syndicate and arrested five people, believed to be linked to 14 cases across Hong Kong, amid a rise in such crimes in the first quarter of the year. Senior Inspector Fu Ho-shing of the Kowloon West regional crime unit said on Saturday that the group primarily targeted motorcycles parked in back alleys or secluded areas in West Kowloon and Tsuen Wan, where surveillance coverage is limited. They also targeted delivery workers who left their vehicles...
primeimages/E+ via Getty Images By Magdalena Ocampo, Market Strategist Expectations of an imminent de-escalation in the Middle East have supported the S&P 500’s sharp rebound from its March 30 low. Investor confidence has improved alongside earnings momentum, as the energy shock has not led to material downward revisions. While recent macro data reinforce resilience, risks have not fully dissipate...
primeimages/E+ via Getty Images By Magdalena Ocampo, Market Strategist Expectations of an imminent de-escalation in the Middle East have supported the S&P 500’s sharp rebound from its March 30 low. Investor confidence has improved alongside earnings momentum, as the energy shock has not led to material downward revisions. While recent macro data reinforce resilience, risks have not fully dissipated, and the outlook remains vulnerable to price pressures and supply chain fragilities. Still, healthy corporate fundamentals—marked by high margins, ample liquidity, and contained leverage—leave firms well positioned to absorb shocks, limiting the magnitude of potential market setbacks. Corporate profit margins Profits as a percentage of corporate revenue, 2000–4Q 2025 The S&P 500 has rebounded sharply from its March 30 low, erasing the losses triggered by the Iran conflict. Ceasefires and renewed negotiations have helped restore investor confidence that tensions will ultimately be resolved. At first glance, record-high equities alongside oil near $100 may feel counterintuitive, but both are consistent with a resilient earnings backdrop and a Q1 reporting season that has begun on a strong footing. Earnings growth expectations are accelerating to levels last seen in the immediate post-COVID recovery. This optimism suggests analysts expect companies to absorb the recent energy shock with little lasting damage to fundamentals. Recent macro data reinforce that view: Downgrades to U.S. GDP growth have been modest. U.S. PMIs have improved and exceeded expectations. Market pricing still points to one Fed rate cut ahead, implying financial conditions remain supportive. That said, the market sits at a fragile juncture. Recent gains have been narrowly led, driven largely by renewed enthusiasm for AI demand. Sustaining the rally in U.S. equities will require continued positive news, oil prices to ease, and the further fading of supply risks. Even if volatility does reemerge, solid cor...
Maskot/DigitalVision via Getty Images Investment Thesis Since my first article about InterDigital ( IDCC ), the company's shares have increased by 55%. I already wrote back then that the company had exhausted the previous drivers for growth, and this was confirmed by the last two reports. The company's shares grew mainly on inflated expectations and are now too expensive: premiums to the sector re...
Maskot/DigitalVision via Getty Images Investment Thesis Since my first article about InterDigital ( IDCC ), the company's shares have increased by 55%. I already wrote back then that the company had exhausted the previous drivers for growth, and this was confirmed by the last two reports. The company's shares grew mainly on inflated expectations and are now too expensive: premiums to the sector reach 100% or more. In order to recommend a Buy on InterDigital shares, I must see either strong undervaluation or strong drivers for growth. There is no first or second one at the moment. Yes, the company's financial results are strong—high operating profitability, high FCF, new contracts—but all this has long been included in the price; this is not new information. Therefore, I prefer to keep the Hold rating and buy stocks only on strong price drawdowns of 10-20% or more. Thus, if the shares continue to grow on optimism, the holders will receive even more income, and if they fall, they will have a chance to acquire a promising company cheaper. From Peak Earnings to Normalized Run-Rate I decided to write this article specifically ahead of the release of the Q1 report, analyzing the key points of the previous report and giving a forecast for the future. Before proceeding to the financial analysis of a business, I recommend that you read my first article about InterDigital , among other things. There, in addition to analyzing the financial statements, I also deeply analyzed the company's business model, described its development strategy, the strengths and weaknesses of this strategy, and the key growth drivers and risks inherent in the company. This will help you understand the business more deeply and better understand the reasons for the company's current financial situation. Investor Presentation The Q4 results were without breakthroughs. Revenue is expected to have dropped significantly due to the fact that in Q4 2024 the company earned a large one-time income, the so-cal...