Hedge fund activist Boaz Weinstein is on the cusp of his most significant campaign victory yet — overhauling an investment trust whose claim to fame is an early bet on Elon Musk’s SpaceX rocket company. But the beleaguered target is doing a good job of trashing the prize pot. Weinstein’s Saba Capital Management is likely to replace the board of Edinburgh Worldwide Investment Trust Plc at a shareho...
Hedge fund activist Boaz Weinstein is on the cusp of his most significant campaign victory yet — overhauling an investment trust whose claim to fame is an early bet on Elon Musk’s SpaceX rocket company. But the beleaguered target is doing a good job of trashing the prize pot. Weinstein’s Saba Capital Management is likely to replace the board of Edinburgh Worldwide Investment Trust Plc at a shareholder meeting in April. The London-listed trust owns a $1 billion portfolio of stakes in perceived high-growth companies, around 17% of which is SpaceX stock. Saba’s last attempted coup narrowly failed to get the required shareholder votes. Edinburgh expects a lower turnout next time will give Weinstein’s 30% stake decisive sway. What would happen next is uncertain as Weinstein’s board nominees haven’t outlined a plan. The activist says they’re independent of his firm. But Saba will clearly have influence. This week it called for shareholders to be given the option of a cash exit, whether immediately or after SpaceX’s expected upcoming initial public offering. The activist also said it would seek the contract to run the Edinburgh trust’s money if a new board jettisoned the incumbent fund manager Baillie Gifford. Finally, Saba confirmed it wants to change the trust’s strategy to focus on buying stakes in other undervalued investment trusts. That’s potentially lucrative — if less glamorous than scouring Silicon Valley for the next SpaceX. The investment-trust community is outraged by Saba’s assault. But the status quo is hard to defend. Once SpaceX goes public, Edinburgh’s raison d’être falls away like a gantry in a rocket launch. If investors can buy SpaceX in the market, the case for the trust rests on a wider investment record that is nothing to be proud of. Its five-year history is dire. Things have improved somewhat since a new chair arrived in 2024 and secured changes to Baillie Gifford’s fund-management team and approach. But a pickup in the share price is partly thanks...
Liberal MP Labels X A "Massive Problem" For Allowing Brits To Criticize Mass Immigration Authored by Steve Watson via Modernity.news, A British Liberal Democrat MP has openly admitted what the political class really fears about Elon Musk’s X: it lets ordinary Britons speak freely about the disaster of mass immigration. In a clip that exploded across the platform on Monday, Cheltenham MP Max Wilkin...
Liberal MP Labels X A "Massive Problem" For Allowing Brits To Criticize Mass Immigration Authored by Steve Watson via Modernity.news, A British Liberal Democrat MP has openly admitted what the political class really fears about Elon Musk’s X: it lets ordinary Britons speak freely about the disaster of mass immigration. In a clip that exploded across the platform on Monday, Cheltenham MP Max Wilkinson described X as a “massive problem” precisely because it gives critics of unchecked migration a voice. “It’s a really easy [way] to get some content out about how you think immigration is too high, or immigration is the big thing that’s tearing the country apart… X is now making sure that you can have your voice heard in a really easy way that you couldn’t in the past,” he complained. This is not some fringe rant. Wilkinson, the Lib Dems’ Home Office spokesperson, simply said the quiet part out loud. While the establishment lectures the public about “tolerance” and “diversity,” it seethes at the idea that native Brits can now push back online without gatekeepers filtering their concerns. The backlash was instant and brutal. Toby Young of the Free Speech Union fired back: “Labour MP Max Wilkinson says the quiet part out loud: He doesn’t like X because it enables people who think immigration is too high to have their voices heard.” Telegraph journalist Allison Pearson was even sharper: “God forbid people should be able to say on X that immigration is far too high. Or that it is causing problems for our way of life. Lib Dem MP Max Wilkinson thinks those opinions should be silenced. How dare he!” This admission lands at the perfect moment to expose the broader pattern of suppression. It confirms exactly why the government has been so desperate to rein in platforms like X. As we have highlighted, the UK’s relentless and ongoing push to ban or restrict X has been predicated on protecting children, yet is clearly about narrative control: The same government that lectures about ...
SlavkoSereda/iStock via Getty Images Oil could jump to $150–$200 a barrel if disruptions in the Strait of Hormuz continue for another six to eight weeks amid the Iran conflict, energy consultancy FGE NexantECA told Bloomberg . “Every week, 100 million barrels of oil is not going through, and every month, 400 million barrels are not going through,” FGE chairman emeritus Fereidun Fesharaki told Bloo...
SlavkoSereda/iStock via Getty Images Oil could jump to $150–$200 a barrel if disruptions in the Strait of Hormuz continue for another six to eight weeks amid the Iran conflict, energy consultancy FGE NexantECA told Bloomberg . “Every week, 100 million barrels of oil is not going through, and every month, 400 million barrels are not going through,” FGE chairman emeritus Fereidun Fesharaki told Bloomberg Television on Tuesday. “So, within a period of time, these losses to the market will be astronomical.” Oil has surged this month as the war between the U.S., Israel, and Iran disrupts Middle East supply, with the Strait of Hormuz largely shut and Gulf producers cutting millions of barrels a day. Prices remained volatile Tuesday, rising after a fresh tanker attack but easing on reports that U.S. President Donald Trump may be open to ending the campaign even if the waterway stays closed. West Texas Intermediate ( CL1:COM ) traded near $103 a barrel at press time, after earlier jumping almost 4% following the tanker strike. Brent ( CO1:COM ) was around $107.5. Still, analysts say physical supply disruptions, not political signals, will drive prices. FGE NexantECA’s Fesharaki said verbal interventions are unlikely to matter. “The market will choke, and the prices will go up,” he said. “It doesn’t matter what the president says on the political front.” Bloomberg reported last week that the Trump administration officials were examining what a potential spike in oil prices as high as $200 a barrel would mean for the economy. The effort is aimed at making sure the administration is prepared for all contingencies, including a prolonged conflict, they said. ETFs: ( USO ), ( BNO ), ( UCO ), ( SCO ), ( USL ), ( DBO ), ( DRIP ), ( GUSH ), ( USOI ), ( UNG ), ( BOIL ), ( KOLD ), ( UNL ), ( FCG ), ( XLE ) More on Brent Futures, Crude Oil Futures, etc. What Markets Are Telling Us About The Duration Of The Middle East Conflict Oil Shock Meets Asset Price Deflation Is The War Really Rea...
Gold ( XAUUSD:CUR ) ticked higher on Tuesday on hopes of Middle East de-escalation but headed for its worst month in 17 years as higher energy costs dampened U.S. rate cut expectations. Spot gold was up about 1% to $ 4,557.62 per ounce but down 14% this month. Silver ( XAGUSD:CUR ) advanced 3% to $ 72.22 but slipped 23% so far this month. Trump told aides that he is willing to end the military cam...
Gold ( XAUUSD:CUR ) ticked higher on Tuesday on hopes of Middle East de-escalation but headed for its worst month in 17 years as higher energy costs dampened U.S. rate cut expectations. Spot gold was up about 1% to $ 4,557.62 per ounce but down 14% this month. Silver ( XAGUSD:CUR ) advanced 3% to $ 72.22 but slipped 23% so far this month. Trump told aides that he is willing to end the military campaign against Iran even if the Strait of Hormuz remains largely closed and leave a complex operation to reopen it for a later date, the Wall Street Journal reported on Monday. Safe-haven gold has fallen more than 14% so far this month, putting it on track for its steepest fall since October 2008, weighed down by a stronger dollar index ( DXY ) and fading expectations of a U.S. interest rate cut this year. Prices are, however, up about 5% for the quarter. Gold tends to thrive in a low-interest-rate environment as it is a non-yielding asset, but traders have almost completely priced out any chance of a U.S. Federal Reserve rate cut this year amid rising energy prices. Yet, Goldman Sachs retained its bullish view on gold despite the recent selloff, forecasting renewed gains by the end of 2026. Gold’s medium-term outlook remains intact, and the precious metal may reach $5,400 an ounce, analysts Lina Thomas and Daan Struyven said in a note, citing continued central bank purchases and two more US rate cuts this year, according to media reports. More on Gold Spot Price, Silver Spot Price, etc. CFTC CoTs: Managed Money Was Responsible For The Gold Sell-Off In January But Not March Is The War Really Reaching Its End? Assets Bounce Despite Oil Rally - Market Check SPX Call Demand Jumps On Optimism Gold rides momentum higher as safe-haven demand picks up BofA strategist sees weak stocks and bonds, strong dollar into Q2
alexsl/iStock via Getty Images Synopsis Hillman Solutions Corp. ( HLMN ) is a provider of a wide range of products, including fasteners, ropes, chains, personal protective equipment, and key duplication systems. The company provides the products to retail markets such as hardware stores, home centres, and mass merchants. The major customers of the company are Home Depot and Lowe’s. In July last ye...
alexsl/iStock via Getty Images Synopsis Hillman Solutions Corp. ( HLMN ) is a provider of a wide range of products, including fasteners, ropes, chains, personal protective equipment, and key duplication systems. The company provides the products to retail markets such as hardware stores, home centres, and mass merchants. The major customers of the company are Home Depot and Lowe’s. In July last year, I recommended a Hold rating on the stock due to high exposure to Chinese imports, which were subject to increased tariffs. However, the company has decreased the exposure of suppliers based in China from 49% to 32% . Furthermore, HLMN plans to limit this exposure to 20%. This shift towards a diversified supply chain strengthens the investment case of the stock. HLMN’s plan to win new business and increase its market share should help to navigate the current macroeconomic uncertainty. With the price increase, the company is expected to offset the headwind on revenue from decreased market volume in FY26. On the profitability front, the margins are expected to face tough comparison in the coming quarters. Revenue Analysis & Outlook In FY2025, the net sales of the company were $1.552 billion, an increase of 5.4% year-over-year. The improvement was driven by the 3% (y-o-y) benefits from the acquisition of Intex DIY and 2% benefits from the new business wins. Moreover, the price increase also contributed 5.5% (y-o-y) to the net sales. However, the market volume negatively impacted the revenue, down 5% year-over-year. Looking ahead, the company should witness increased revenue year-over-year in FY2026. The management has given net sales guidance from $1.6 to $1.7 billion , with a midpoint estimate of $1.65 billion. The growth in net sales should be supported by new business wins and price increases. However, the market volume should be a headwind to the revenue of the company. Apart from organic growth, the company should continue to pursue acquisitions in the future. S&P Glob...