3D_generator/iStock via Getty Images The business development company ( BIZD ) sector has been selling off recently as private credit has come under increasing scrutiny and has suffered from numerous negative media headlines recently. As a result, numerous popular publicly traded BDCs now trade at large discounts to net asset value as well as their own historical averages, presenting potentially c...
3D_generator/iStock via Getty Images The business development company ( BIZD ) sector has been selling off recently as private credit has come under increasing scrutiny and has suffered from numerous negative media headlines recently. As a result, numerous popular publicly traded BDCs now trade at large discounts to net asset value as well as their own historical averages, presenting potentially compelling buying opportunities for income-focused and long-term-oriented value investors who are willing to be patient during the current negativity. However, not all BDCs are created equal, with some having legitimately high risk. I think that at least somewhat validates the discounts they are currently experiencing. With that in mind, in this article, I'm going to compare two of these opportunities and share which one I think is worth buying right now and which one I'm steering clear of. Key Risks Facing The BDC Sector Before I get into the details of these two BDCs, the biggest risks facing BDCs right now: The Fed has been on a path towards cutting interest rates, which tends to weigh on BDCs, since most of their investments are in floating-rate loans. Whenever the Fed cuts rates, their net investment income tends to decline. This has already led several BDCs to cut their dividends. Additionally, many BDCs have fixed-rate debt maturing in the near term, which they are having to refinance at materially higher interest rates than they were underwritten at, as much of this debt was taken on about five years ago following COVID-19, when the Fed slashed rates aggressively. Today, while the Fed is in the process of cutting rates, long-term interest rates have risen significantly over the past half-decade, especially after oil prices skyrocketed following the war in Iran. Moreover, there is growing concern about the health of the BDC sector, as capital has flooded into the space in recent years at a much faster clip than new loans have become available. This has created a suppl...
Castle Douglas, Dumfries and Galloway: Once nearly extinct in Scotland, they are now widespread, and these ones have such beautiful views to enjoy Up on the old logging roads near Kirkennan estate, I saw some wild roe deer . They are one of only two deer species that are native to Scotland, as well as red deer. Back in the 1700s, they were almost extinct here, but they can now be found across the ...
Castle Douglas, Dumfries and Galloway: Once nearly extinct in Scotland, they are now widespread, and these ones have such beautiful views to enjoy Up on the old logging roads near Kirkennan estate, I saw some wild roe deer . They are one of only two deer species that are native to Scotland, as well as red deer. Back in the 1700s, they were almost extinct here, but they can now be found across the country. When we were walking the air smelled like fresh rain and wood. The deer were about 100 metres up the hill from us, resting in long, wiry grass and shrubs. From below, we could see their short mahogany fur blending into the vegetation. As we went up the hill we came to their resting place – the deer had gone, but we could see their hazel fur caught in the shrubs and indentations in the grass where they had been lounging. Continue reading...
Dartmoor, Devon: This one is an early-arriver after spending winter in sub-Saharan Africa, and it’s keen to show off its ‘white arse’ The first signs of spring shine through the shadow of Haytor Rocks , a granite guard of Dartmoor’s natural secrets. The sun’s heat warms the granite, the first bumblebees thrum over the gorse. After months of mizzly rain, it was freeing to be out on the moor again. ...
Dartmoor, Devon: This one is an early-arriver after spending winter in sub-Saharan Africa, and it’s keen to show off its ‘white arse’ The first signs of spring shine through the shadow of Haytor Rocks , a granite guard of Dartmoor’s natural secrets. The sun’s heat warms the granite, the first bumblebees thrum over the gorse. After months of mizzly rain, it was freeing to be out on the moor again. The trees were awakening, early emergers blackthorn and willow, stalwarts of Emsworthy Mire – an old friend. With binoculars pressed tight to my eyes, I scan the valley, searching for any sign of returning migrants. Mid-March is too early for some, but the more proactive species love to start the season early. A raven cronks overhead, a sound as welcoming as it is unnerving. Continue reading...
The Filipino photographer was delighted to see his usually serious daughter getting muddy with her young cousin When Mark Linel Padecio is at home in Danao City, Cebu, in the Philippines, family life lies “within a rhythm of schedules, studies and screens”. His 10-year-old daughter, Xianthee, is shaped by the city. “Her days are filled with lessons and responsibilities, and she’s a diligent, serio...
The Filipino photographer was delighted to see his usually serious daughter getting muddy with her young cousin When Mark Linel Padecio is at home in Danao City, Cebu, in the Philippines, family life lies “within a rhythm of schedules, studies and screens”. His 10-year-old daughter, Xianthee, is shaped by the city. “Her days are filled with lessons and responsibilities, and she’s a diligent, serious student, so smiles from her are rare and often reserved,” Padecio says. Along with his wife, Padecio owns a small farm in Dapdap, a 30-minute drive away. After a fleeting rainfall ended a long and punishing drought last year, the family paid a visit. “Rivers frequently dry up for months, forcing families to suffer crop failures, to ration and face heightened risks of illness,” Padecio says. “So even if the river only trickles briefly, it feels miraculous, instantly transforming hardship into relief and hope.” Continue reading...
It’s unclear what happened in São Paulo. But our obsessive culture has created a fraught dance between stars and their fans Last week, the former Chelsea footballer Jorginho made a post on social media claiming that, after his daughter walked past the singer Chappell Roan’s table at a restaurant and smiled at her, a security guard accosted the girl. The security guard apparently spoke “in an extre...
It’s unclear what happened in São Paulo. But our obsessive culture has created a fraught dance between stars and their fans Last week, the former Chelsea footballer Jorginho made a post on social media claiming that, after his daughter walked past the singer Chappell Roan’s table at a restaurant and smiled at her, a security guard accosted the girl. The security guard apparently spoke “in an extremely aggressive manner”, causing her to be “extremely shaken and [cry] a lot”. If the story is true, it doesn’t look good for Roan. This wasn’t creepy paparazzi or red carpet hecklers; it was a child. Roan has apologized , adding that the man involved in the incident in São Paulo was not her personal security, and that she didn’t see the girl. Tayo Bero is a Guardian US columnist Continue reading...
AI images of people – such as women in military contexts – are making money and serving as propaganda, researchers say Online content creators are not just building fake images and videos of prominent public figures, they are also fabricating people and using them in military contexts, which can make them money and even serve as effective propaganda, according to artificial intelligence researcher...
AI images of people – such as women in military contexts – are making money and serving as propaganda, researchers say Online content creators are not just building fake images and videos of prominent public figures, they are also fabricating people and using them in military contexts, which can make them money and even serve as effective propaganda, according to artificial intelligence researchers. Some of these online avatars are sexualized images of women wearing camouflage garb that have generated a significant audience and helped create an idealized image of political figures like Donald Trump, even if the viewer knows the content is not real, according to experts. Continue reading...
The threat to employment posed by artificial intelligence was not a “robot apocalypse” that would steal jobs, but “algorithmic collusion” that could quietly erode wages and workplace safety, Ekkehard Ernst, the International Labour Organization’s chief macroeconomist, warned in Beijing on Tuesday. While public anxiety frequently centred on the potential for AI to trigger a mass wave of unemploymen...
The threat to employment posed by artificial intelligence was not a “robot apocalypse” that would steal jobs, but “algorithmic collusion” that could quietly erode wages and workplace safety, Ekkehard Ernst, the International Labour Organization’s chief macroeconomist, warned in Beijing on Tuesday. While public anxiety frequently centred on the potential for AI to trigger a mass wave of unemployment, Ernst said its disruptive potential had been overestimated. “I don’t think that we are anywhere...
In this article DIS PSKY WBD Follow your favorite stocks CREATE FREE ACCOUNT Source: Warner Bros. | Paramount When Paramount Skydance combines with the Warner Bros. film studio, it'll have a deep bench of marquee franchises and established prestige. What the powerhouse duo will be missing is an animated film slate that could rival Hollywood giants like Disney and Universal . The combined entity, w...
In this article DIS PSKY WBD Follow your favorite stocks CREATE FREE ACCOUNT Source: Warner Bros. | Paramount When Paramount Skydance combines with the Warner Bros. film studio, it'll have a deep bench of marquee franchises and established prestige. What the powerhouse duo will be missing is an animated film slate that could rival Hollywood giants like Disney and Universal . The combined entity, which is still awaiting regulatory approval , has a stacked slate of tentpoles including DC superhero fare, a Minecraft sequel, another Sonic the Hedgehog film and new entrants from The Lord of the Rings universe. Not to mention, Warner Bros. just tied the record for the most Academy Award wins for a single studio earlier this month. But it's been kid-friendly animated content that is increasingly driving families to the theater — and neither studio has excelled in this area in the last decade. Since 2016, Paramount and Warner Bros. have each released eight animated features on the big screen, with Paramount generating $1.1 billion in total global ticket sales from the category and Warner Bros. tallying $1.3 billion, according to data from Comscore. During that time, only one Paramount animated film has generated more than $200 million globally — 2023's "Paw Patrol: The Mighty Movie" — and only one Warner Bros. animated title has scored more than $300 million globally — 2017's "Lego Batman." For comparison, in the last decade Disney released 21 theatrical animated features, collecting $14.1 billion from the films; Universal released 23 animated movies to the tune of $10.7 billion; and Sony released 16, bringing in $4.6 billion in ticket sales. Disney has seen seven animated features generate more than $1 billion globally during that time, and Universal has seen two. These figures do not include live-action films with animated elements like Paramount's Sonic franchise, Universal's "Gabby's Dollhouse," or Disney's "Mufasa: The Lion King," which the studio considers a live-acti...
In this article @LCO.1 @CL.1 Follow your favorite stocks CREATE FREE ACCOUNT watch now VIDEO 3:22 03:22 Why the coming weeks in the Iran war are pivotal for the U.S. economy Markets and Politics Digital Original Video The clock is ticking on the U.S.-Israeli war in Iran . The emerging view from oil industry executives and analysts is that the economic and market fallout from the war could escalate...
In this article @LCO.1 @CL.1 Follow your favorite stocks CREATE FREE ACCOUNT watch now VIDEO 3:22 03:22 Why the coming weeks in the Iran war are pivotal for the U.S. economy Markets and Politics Digital Original Video The clock is ticking on the U.S.-Israeli war in Iran . The emerging view from oil industry executives and analysts is that the economic and market fallout from the war could escalate sharply if the Strait of Hormuz isn't reopened within roughly the next one to three weeks. Even then, enough damage may have been done already to leave energy and many other prices higher for longer. These risks haven't been clearly reflected in some widely followed markets, including stocks broadly and the benchmark Brent crude price . Stopgap measures to soften the blow of the oil cutoff have kept crude prices relatively low in the U.S. and European markets. But when those measures lose their effectiveness in early-to-mid April, analysts warn there will be little the U.S. or other governments can do to keep energy prices from rising dramatically. Iran has attacked civilian ships and energy infrastructure in its neighborhood, causing traffic in the narrow Strait of Hormuz to fall to a standstill. Roughly 20% of global oil supply normally moves through the approximately 100-mile waterway, which borders Iran. Some oil has been rerouted through pipelines, but they can only carry so much. The U.S. and others are releasing 400 million barrels of oil from strategic reserves — the biggest release on record — and the U.S. has temporarily lifted sanctions on some Russian and Iranian oil to give the market breathing room. Satellite image shows smoke rising from UAE's Fujairah port, amid the U.S.-Israeli conflict with Iran, in Fujairah, United Arab Emirates, March 15, 2026. Nasa Worldview | Via Reuters The White House says it believes the president's military strategy will soon end the Iranian threat, allowing the price worries to fade. But all agree there is no substitute for reope...
Closed, the Find N6 is about as thin as any regular phone. | Photo: Dominic Preston / The Verge There are always a few reasons people give for not buying a foldable phone. Some - price, battery life, camera quality - are mostly a matter of manufacturers balancing spec sheets to offset the added cost of the folding hardware. Others - durability, size - were practical design problems that have mostl...
Closed, the Find N6 is about as thin as any regular phone. | Photo: Dominic Preston / The Verge There are always a few reasons people give for not buying a foldable phone. Some - price, battery life, camera quality - are mostly a matter of manufacturers balancing spec sheets to offset the added cost of the folding hardware. Others - durability, size - were practical design problems that have mostly been solved. But the crease always felt different, fundamental: something that foldables would be stuck with no matter what. Oppo disagrees. It claims that the Find N6 is the first foldable with a "zero-feel" crease, one so subtle that you can hardly tell it's there. And while there's just a hint of marketing exaggeration there, Oppo isn't … Read the full story at The Verge.
Saving enough for retirement is already a big challenge, but if you don't have access to a 401(k) or a similar account through your job, it can feel almost impossible. You're stuck with other accounts, like IRAs, that have lower contribution limits, and you won't qualify for an employer match to help you reach your savings goals more quickly. However, this might not be the case forever. President ...
Saving enough for retirement is already a big challenge, but if you don't have access to a 401(k) or a similar account through your job, it can feel almost impossible. You're stuck with other accounts, like IRAs, that have lower contribution limits, and you won't qualify for an employer match to help you reach your savings goals more quickly. However, this might not be the case forever. President Donald Trump recently announced an intent to create a new type of retirement account that would allow those without access to a workplace retirement plan to earn up to a $1,000 match each year. Here's what we know so far. Image source: Getty Images. Continue reading
European Conservative Lawmakers Warn Of 'No-Go Zones' Tied To Mass Immigration And Islamization Authored by Thomas Brooke via Remix News, A new report backed by European conservative lawmakers is sounding the alarm over what it describes as the spread of “no-go zones” across the European Union, linking the phenomenon directly to mass immigration, Islamization, and the breakdown of state authority ...
European Conservative Lawmakers Warn Of 'No-Go Zones' Tied To Mass Immigration And Islamization Authored by Thomas Brooke via Remix News, A new report backed by European conservative lawmakers is sounding the alarm over what it describes as the spread of “no-go zones” across the European Union, linking the phenomenon directly to mass immigration, Islamization, and the breakdown of state authority in major urban areas. The report was presented at a press conference on Wednesday by Sweden Democrats MEP Charlie Weimers, French nationalist MEP Marion Maréchal, and Brothers of Italy MEP Nicola Procaccini. Published by New Direction, the foundation tied to the ECR parliamentary group, the study argues that large parts of Europe are witnessing the rise of “parallel societies where the laws of the State are increasingly replaced by the codes of radicalisation and the rule of violence.” Maréchal said the findings showed the trend was no myth. “France has 751 sensitive areas and 1,362 priority neighborhoods. Our study demonstrates that no-go zones develop according to two factors: immigration and Islamization — 63 percent of Islamist terrorists are linked to these areas,” she said at the launch event. Procaccini described the document as “a wake-up call on the failures of uncontrolled immigration,” a line that closely echoed the report’s own foreword, which says Europe must confront “the failures of uncontrolled immigration, the lack of effective integration policies, and the abdication of responsibility by local governments.” It adds that the publication is intended to be the first in an annual series. 🚨 Europe’s No-Go Zones Exposed: New report details how mass immigration and rapid Islamisation are fueling the rise of parallel societies Download here: https://t.co/sToIe41uGy pic.twitter.com/XxPW8yIUD9 — Charlie Weimers MEP 🇸🇪 (@weimers) March 25, 2026 The study sets out a scoring system built around crime and violence, the existence of parallel societies, and evidence of st...
Stocks were down sharply this week as geopolitical risk elevates concerns about higher inflation and interest rates despite a temporary pause in hostilities
Stocks were down sharply this week as geopolitical risk elevates concerns about higher inflation and interest rates despite a temporary pause in hostilities
Riza Azhari/iStock via Getty Images To look at the state of the share price evolution of Edenred ( EDNMY )( EDNMF ), you'd be justified in thinking that the company is moving towards a state of bankruptcy. In this article, I will be trying to disabuse you, dear reader, of that notion to view the company in the light of perhaps a more weighted analysis. While I will pull no punches in addressing th...
Riza Azhari/iStock via Getty Images To look at the state of the share price evolution of Edenred ( EDNMY )( EDNMF ), you'd be justified in thinking that the company is moving towards a state of bankruptcy. In this article, I will be trying to disabuse you, dear reader, of that notion to view the company in the light of perhaps a more weighted analysis. While I will pull no punches in addressing the company's issues, I will also make crystal clear the company's various strengths, which I argue are numerous and convincing. In particular, I will be addressing what you see in the graph below. I have not written on Edenred in some time. My last article was over a year ago, and while my position for the time being is limited, this is not something that will continue to be this way. While the company has weaknesses and uncertainties, the sort of valuation trends it currently goes through can only, to my mind, be justified by a complete breakdown of fundamentals. As it happens, this is not something that we have going on. F.A.S.T Graphs Edenred Valuation Edenred as a company, if you look strictly at what the company has been able to do historically, has grown its earnings at about 7.36% per year since 2010. It is furthermore A-rated in terms of credit. That's right. The company going through this is A-rated, and the yield it offers of 8.5% is not only one that's technically well-covered, but even in scenarios of much lower earnings, continues to be covered. You can find, if you're interested, my previous article on the company here. But I would, if asked, properly consider it more suitable to look at the current article, because it much better describes the current valuation. My last article was at an arguably attractive multiple, when the company was entering what I argue to be undervaluation, but it has now gone beyond undervaluation to cheap. Basically, what I will be focusing on here is whether Edenred is actually a speculative stock or if it is not. So let's see what w...