Jim McCormick, Head of Macro Strategy at Citi, says the Iran war poses a significant challenge for global central banks. He expects less monetary tightening from Asian policymakers but greater fiscal support in response to the conflict, a combination he says could lead to a steepening yield curve. (Source: Bloomberg)
Jim McCormick, Head of Macro Strategy at Citi, says the Iran war poses a significant challenge for global central banks. He expects less monetary tightening from Asian policymakers but greater fiscal support in response to the conflict, a combination he says could lead to a steepening yield curve. (Source: Bloomberg)
(RTTNews) - Alterity Therapeutics (ATHE, ATH.AX) announced that it has received positive regulatory feedback following a Type C Meeting with the U.S. Food and Drug Administration (FDA) regarding its planned Phase 3 development program for ATH434 in Multiple System Atrophy (MSA).
(RTTNews) - Alterity Therapeutics (ATHE, ATH.AX) announced that it has received positive regulatory feedback following a Type C Meeting with the U.S. Food and Drug Administration (FDA) regarding its planned Phase 3 development program for ATH434 in Multiple System Atrophy (MSA).
hapabapa/iStock Editorial via Getty Images Setting the Stage On December 14th, 2025, I published a comparative analysis seeking to quantify NVIDIA Corporation's ( NVDA ) superior risk-adjusted return against Advanced Micro Devices, Inc. ( AMD ). While I maintain my bullish stance on NVDA, in this article I am using a fixed effects OLS panel regression on 5 years of data of NVDA and Amazon.com, Inc...
hapabapa/iStock Editorial via Getty Images Setting the Stage On December 14th, 2025, I published a comparative analysis seeking to quantify NVIDIA Corporation's ( NVDA ) superior risk-adjusted return against Advanced Micro Devices, Inc. ( AMD ). While I maintain my bullish stance on NVDA, in this article I am using a fixed effects OLS panel regression on 5 years of data of NVDA and Amazon.com, Inc. ( AMZN ) to unearth the difference between structural advantages and cyclical gains. The reason I am using Amazon instead of AMD again is to diversify the peer comparison as well as other purposive reasons that make the analysis comprehensive, as I will discuss in the sections that follow. Upon running the model, I found that NVDA carries a structurally confirmed 39+ percentage point increase in operating margin premium, while AMZN’s blended margin conceals an AWS profit engine that is quietly accelerating. From my assessment, both stocks are compelling long-term investments, but the model evidence offers a clear picture of what investors are paying for each. The Rationale Behind Panel Regression When I read most of the existing investment material, I find most of them, if not all, to be retail analysis, which is cross-sectional (one company, one moment). It is my position that such an approach cannot quantitatively and substantially distinguish structural strengths and cyclical luck. On the other hand, panel data tracks the variables across multiple entities and time periods while controlling for entity-specific effects and exposes the durable drivers of profitability and growth. More interestingly, the two companies in question make a methodologically instructive pair. One is an asset-light chip designer, while the other is a capital-heavy platform. To me, this is the contrast we need to identify what model attributes move the needle on margins and revenue. Based on the results, NVDA's fabless, asset-light model is structurally designed to win the margin race, and the f...
hapabapa/iStock Editorial via Getty Images Setting the Stage On December 14th, 2025, I published a comparative analysis seeking to quantify NVIDIA Corporation's ( NVDA ) superior risk-adjusted return against Advanced Micro Devices, Inc. ( AMD ). While I maintain my bullish stance on NVDA, in this article I am using a fixed effects OLS panel regression on 5 years of data of NVDA and Amazon.com, Inc...
hapabapa/iStock Editorial via Getty Images Setting the Stage On December 14th, 2025, I published a comparative analysis seeking to quantify NVIDIA Corporation's ( NVDA ) superior risk-adjusted return against Advanced Micro Devices, Inc. ( AMD ). While I maintain my bullish stance on NVDA, in this article I am using a fixed effects OLS panel regression on 5 years of data of NVDA and Amazon.com, Inc. ( AMZN ) to unearth the difference between structural advantages and cyclical gains. The reason I am using Amazon instead of AMD again is to diversify the peer comparison as well as other purposive reasons that make the analysis comprehensive, as I will discuss in the sections that follow. Upon running the model, I found that NVDA carries a structurally confirmed 39+ percentage point increase in operating margin premium, while AMZN’s blended margin conceals an AWS profit engine that is quietly accelerating. From my assessment, both stocks are compelling long-term investments, but the model evidence offers a clear picture of what investors are paying for each. The Rationale Behind Panel Regression When I read most of the existing investment material, I find most of them, if not all, to be retail analysis, which is cross-sectional (one company, one moment). It is my position that such an approach cannot quantitatively and substantially distinguish structural strengths and cyclical luck. On the other hand, panel data tracks the variables across multiple entities and time periods while controlling for entity-specific effects and exposes the durable drivers of profitability and growth. More interestingly, the two companies in question make a methodologically instructive pair. One is an asset-light chip designer, while the other is a capital-heavy platform. To me, this is the contrast we need to identify what model attributes move the needle on margins and revenue. Based on the results, NVDA's fabless, asset-light model is structurally designed to win the margin race, and the f...
Birthright Citizenship Is National Suicide Authored by Daniel Greenfield via The Gatestone Institute, Last year the Trump administration designated Mexico's Jalisco New Generation Cartel ( CJNG ) as a terrorist group, allowing the military to carry out strikes against it and its leadership, but the massive drug cartel across the border understands the weaknesses of our system all too well. That's ...
Birthright Citizenship Is National Suicide Authored by Daniel Greenfield via The Gatestone Institute, Last year the Trump administration designated Mexico's Jalisco New Generation Cartel ( CJNG ) as a terrorist group, allowing the military to carry out strikes against it and its leadership, but the massive drug cartel across the border understands the weaknesses of our system all too well. That's why its new leader has American citizenship. Law enforcement, intelligence agencies and the military will have to jump through all sorts of legal hoops to spy on, target or take out Juan Carlos Valencia Gonzalez, who has a $5 million bounty on his head, but he has the best protection in the world because he was born in California . The new cartel leader's drug-dealing Mexican parents had a baby in America. That child became a US citizen who runs a Mexican drug cartel that the government has designated as being at war with the United States, and yet we can't simply remove his citizenship. And targeting the cartel boss without removing his citizenship will set off wails from Democrats and the Tucker Carlson wing of the GOP, who still whine that the United States took out Anwar Al-Awlaki, the head of Al Qaeda's Yemeni operation, a sworn enemy of America, who happened to be born here when his father, a grad student, was in New Mexico on a Fulbright scholarship. Americans of a century ago would have been baffled that foreign enemy leaders who happened to be born to foreign nationals in this country were somehow immune to being killed in battle or that their citizenship couldn't be quickly and easily removed. Back then most of our modern problems were unthinkable because committing treason, aligning with any foreign government, including joining its army or voting in its elections, marrying a foreigner or just returning to your home country meant denaturalization. (As did dodging the draft or deserting from the military.) Had the common-sense provisions of the Expatriation Act of...
Chinese biotech firm Hua Medicine sees robust growth in 2026 after reporting a 93% jump in full-year revenue. Speaking exclusively to Bloomberg's "The China Show," Chief Strategy Officer George Lin discusses the outlook for the company’s flagship drug dorzagliatin and plans to expand to additional markets. (Source: Bloomberg)
Chinese biotech firm Hua Medicine sees robust growth in 2026 after reporting a 93% jump in full-year revenue. Speaking exclusively to Bloomberg's "The China Show," Chief Strategy Officer George Lin discusses the outlook for the company’s flagship drug dorzagliatin and plans to expand to additional markets. (Source: Bloomberg)
PM Images/DigitalVision via Getty Images Fidus Investment ( FDUS ) has suffered greatly in 2026, as a confluence of factors weighed on the BDC sector, including growing fears over the performance of loans made to the SaaS sector as well as the recent outbreak of war in the Middle East. Amid the confrontation with Iran, the Federal Reserve did not lower rates in March, which may ultimately benefit ...
PM Images/DigitalVision via Getty Images Fidus Investment ( FDUS ) has suffered greatly in 2026, as a confluence of factors weighed on the BDC sector, including growing fears over the performance of loans made to the SaaS sector as well as the recent outbreak of war in the Middle East. Amid the confrontation with Iran, the Federal Reserve did not lower rates in March, which may ultimately benefit the BDC sector as a whole. Fidus Investment, as a result, has dropped to 52-week lows, which creates a contrarian buying opportunity for investors, in my opinion. Most importantly, because consumer prices have been rising lately, prospects of a rate increase have actually improved, which would benefit BDCs with variable rate-paying loans in their portfolio. Data by YCharts A Long History of Steady Loan Expansion, Growing NII Fidus Investment is a variable rate-focused BDC that originates loans to the middle market: about 75.3% of all investments bore variable rates as of Q4'25. The investment firm had a portfolio valued at $1.3B as of the end of the December quarter, and it consisted chiefly of first liens. These loans, which are the most heavily protected in the capital structure, represented 78.1% of investments for the BDC in the fourth quarter, while other investments included second lien debt, subordinated debt, and equity. Fidus Investment Fidus Investment, like so many investment platforms in the last decade, benefited from growing private credit demand after the financial crisis in 2008, during which traditional banks withdrew from lending. As a result, the investment company has benefited from steady demand for privately originated debt and equity capital, which has led Fidus Investment to publish an all-time record portfolio volume as of the end of the fourth quarter. Fidus Investment As per the BDC's latest statement of income, Fidus Investment generated $19.6M in net investment income, showing a year-over-year growth rate of 5%. Since many BDCs reported a shrink...