IBM and the Masters Golf Tournament are teaming up to give fans an experience unlike any other. IBM SVP of Marketing & Communications Jonathan Adashek and Longtime Caddy Jim "Bones" Mackay join Joe Mathieu and Christina Ruffini on Bloomberg This Weekend to discuss the economic impact the move could have on the country. Watch the show LIVE every Saturday and Sunday morning. (Source: Bloomberg)
IBM and the Masters Golf Tournament are teaming up to give fans an experience unlike any other. IBM SVP of Marketing & Communications Jonathan Adashek and Longtime Caddy Jim "Bones" Mackay join Joe Mathieu and Christina Ruffini on Bloomberg This Weekend to discuss the economic impact the move could have on the country. Watch the show LIVE every Saturday and Sunday morning. (Source: Bloomberg)
William_Potter Members of OPEC+ are preparing to approve a small increase in production targets for May, even as the ongoing conflict in the Middle East continues to disrupt actual oil flows. Key producers including Saudi Arabia and Russia are expected to back a plan to raise quotas by roughly 206,000 barrels a day during a virtual meeting, Bloomberg News reported Sunday, citing delegates familiar...
William_Potter Members of OPEC+ are preparing to approve a small increase in production targets for May, even as the ongoing conflict in the Middle East continues to disrupt actual oil flows. Key producers including Saudi Arabia and Russia are expected to back a plan to raise quotas by roughly 206,000 barrels a day during a virtual meeting, Bloomberg News reported Sunday, citing delegates familiar with the discussions. While the adjustment would formally expand supply targets, its real-world impact may be limited given current constraints on exports. Fighting in the region has sharply reduced shipments from major Gulf producers such as United Arab Emirates , Iraq and Kuwait . The disruption has largely stemmed from restrictions on traffic through the Strait of Hormuz , a critical route that typically handles about one-fifth of global oil supply. As a result, the planned increase is seen more as a signal of intent rather than an immediate boost in output. The move suggests producers are positioning themselves to ramp up supply quickly if conditions stabilize. Oil markets have been volatile since the conflict began, with prices surging close to $120 a barrel last month before easing slightly. Benchmark crude remained elevated near $109 at the end of last week, reflecting ongoing uncertainty and concerns about prolonged disruptions. Before the conflict, a group of eight OPEC+ nations had been gradually restoring production cuts introduced in 2023. Output levels were held steady early this year, followed by a similar increase for April that was agreed just as hostilities escalated. Shipping through Hormuz has been severely curtailed for over a month, in what the International Energy Agency has described as an unprecedented supply shock. While vessel traffic has shown tentative signs of recovery, flows remain far below normal levels. There are some indications of limited easing. Iran has signaled that Iraqi shipments may be allowed to pass through the strait, potentially...
anusorn nakdee/iStock via Getty Images Because of the heightened volatility and fundamental concerns about private credit (including BDCs), investors who have decided to keep their positions in place or even add a bit are doing so by leaning into defensive names. By defensive names I mean such BDCs that are well-positioned to weather potential headwinds from rising non-accruals in the overall BDC ...
anusorn nakdee/iStock via Getty Images Because of the heightened volatility and fundamental concerns about private credit (including BDCs), investors who have decided to keep their positions in place or even add a bit are doing so by leaning into defensive names. By defensive names I mean such BDCs that are well-positioned to weather potential headwinds from rising non-accruals in the overall BDC ( BIZD ) space (e.g., low PIK, low non-accruals, low exposure to SaaS, low leverage). It is about taking care of the downside and then letting the upside do its thing when the negative sentiment fades. While in the process of waiting, 10%+ dividends can be collected. There is absolutely nothing wrong with this kind of approach. In fact, this is how I do it and what I have been recommending for BDC investors who seek durable cash flows and long-term NAV stability. However, there is a saying in sports: the best defense is a good offense. In the BDC context, I interpret it as expanding portfolios, which would contribute to incremental NII and NAV per share growth that could, in the worst case, be used as an offset to the "attacks" from potential loan default front. Namely, the rhetoric is changed from using the built-in cushion and margin of safety as a shock absorber but not even allowing the headwinds to touch the current value and instead letting incremental value (NII, NAV) fight back. In this particular moment, going on attack mode could be very attractive because of higher spreads, which have recently expanded due to (a) sizeable amounts of liquidity being pulled out of BDCs (less competition) and (b) increased risk in the system (SaaS, recessionary risks). Now, the worst thing that could happen is if the BDC decided to venture into aggressive portfolio growth from a position of instability and struggling fundamentals. What we want is to capture both worlds: Stable fundamentals and solid portfolio (i.e., below-average risk BDCs). Big firepower to secure growth without ag...
chaofann/iStock via Getty Images Written by Jussi Askola, CFA for High Yield Investor Asset management ( GPZ ) can be an incredibly rewarding business. It essentially allows you to earn a cut of the returns of an asset, without actually having to put any of your own capital into it. As a result, if you can convince investors to let you manage their money and amass a large base of assets under mana...
chaofann/iStock via Getty Images Written by Jussi Askola, CFA for High Yield Investor Asset management ( GPZ ) can be an incredibly rewarding business. It essentially allows you to earn a cut of the returns of an asset, without actually having to put any of your own capital into it. As a result, if you can convince investors to let you manage their money and amass a large base of assets under management, you will quickly end up with a little fortune. It is high margin, highly scalable, and results in recurring cash flows. We have all heard of people like Bill Ackman, who have become self-made billionaires in this exact business. But there are also plenty of publicly listed asset management firms that allow investors like you and me to participate in this opportunity. Blackstone ( BX ), as an example, is the world's biggest alternative asset manager, managing over a trillion dollars worth of investments, and it has been immensely rewarding to its shareholders over the long run as it grew its assets under management and fee income: Data by YCharts Generally, these companies trade at fairly high multiples of their cash flows, given that they are high-quality businesses enjoying recurring and rapidly growing fee income. But here is the interesting part: All these public asset management companies, especially those that focus on alternative investments, have recently crashed and now trade at extremely low valuations. Blackstone, KKR ( KKR ), Brookfield ( BAM ), Carlyle ( CG ), Blue Owl Capital ( OWL ), Apollo Global Management ( APO ), Ares Management ( ARES ), and others are all down very big: Data by YCharts I think that this sell-off is presenting a rare window of opportunity to buy these great businesses at historical discounts. But why are they suddenly so cheap then? It is simply because they crashed in sympathy with SaaS companies due to AI panic. SaaS businesses (software-as-a-service) have crashed in recent months as AI is breaking barriers to entry by making it...
labsas/iStock Unreleased via Getty Images Intro Crocs, Inc. ( CROX ) reported earnings in mid-February, posting a Q4 Non-GAAP EPS of $2.29, which beat by $0.38. Revenue of $958M (-3.2% Y/Y) beat by $40.9M. Crocs delivered solid 2025 results with over $4B in revenue and strong cash flow, driven by international growth and DTC strength, though HEYDUDE declined and North America remains a key challen...
labsas/iStock Unreleased via Getty Images Intro Crocs, Inc. ( CROX ) reported earnings in mid-February, posting a Q4 Non-GAAP EPS of $2.29, which beat by $0.38. Revenue of $958M (-3.2% Y/Y) beat by $40.9M. Crocs delivered solid 2025 results with over $4B in revenue and strong cash flow, driven by international growth and DTC strength, though HEYDUDE declined and North America remains a key challenge. Management ended up guiding for flat to slightly down revenue in 2026, with near-term pressure from tariffs and weak U.S. demand, but expects improvement later in the year supported by cost savings, product innovation, and international expansion. Overall, the outlook was cautiously optimistic, with confidence in long-term growth despite short-term headwinds. These results were enough to take the stock soaring to near $100 a share but have since fallen off to the high 70s to low 80s due to some neutral ratings, international headwinds, rising input costs, and a weaker consumer. These are especially difficult for a company like Crocs since its core product is relying on international sales for growth, and the "Croslite" is petroleum-based. However, I think this is a good opportunity for value investors. In this article, I will cover management's capital allocation strategy, progress, and effectiveness. Then I will go over valuation and the recent LEGO partnership, which I think will help drive CROX to newer highs. I think the risks mentioned are baked into the current stock price with plenty of room to spare. Even Li Lu, a fund manager in whom Charlie Munger would invest a portion of his net worth, entered a 1.5% position for the Himalaya Capital Management fund. Norbert Lou has also maintained a massive 16.90% position of CROX in his Punch Card Capital Management fund. CROX Position Sizing by Large Fund Managers (Dataroma) And in the wise words of Peter Lynch, insiders sell for many reasons, but they only buy for one - They think it's cheap. While there has been selling...
FactoryTh/iStock via Getty Images Introduction Applied Optoelectronics, Inc. ( AAOI ) has been one of the stronger performers in the market this year, with the stock up nearly 3x while the S&P 500 is down more than 3%. Data by YCharts Applied Optoelectronics is a supplier of fiber-optic networking products. The company sells optical components, modules, and equipment used mainly in internet data c...
FactoryTh/iStock via Getty Images Introduction Applied Optoelectronics, Inc. ( AAOI ) has been one of the stronger performers in the market this year, with the stock up nearly 3x while the S&P 500 is down more than 3%. Data by YCharts Applied Optoelectronics is a supplier of fiber-optic networking products. The company sells optical components, modules, and equipment used mainly in internet data centers and CATV broadband networks, with smaller exposure to telecom and FTTH markets. In 2025, 53.8% of revenue came from CATV and 42.9% from internet data centers, showing that AAOI is not a pure-play AI optics company but a broader optical networking supplier. I believe AAOI still offers upside because the company appears to be executing well at a time when demand momentum is strengthening, and current estimates may still prove too conservative. In my view, the main opportunity today is not based on a long-term CPO thesis (which is valid as well but not part of this write-up) but on the chance that AAOI delivers faster revenue and earnings realization than the market is currently pricing in, leading to continued upside. Market Developments NVIDIA’s ( NVDA ) optics investments validate the bottleneck. When NVIDIA puts $2B into Lumentum ( LITE ) and separately frames optical interconnects , package integration, and photonics as critical for scaling AI factories, that is a concrete signal that optics is the next data center cycle and potential bottleneck. It does not create a direct AAOI read-through, but it strengthens the industry case that demand for advanced optical interconnects is likely earlier, larger, and more strategic than many still assume. Broadcom ( AVGO ) is one of the clearest voices arguing that AI infrastructure will require higher bandwidth, lower power, and tighter integration, and it continues to push its CPO and high-speed optical roadmap accordingly. For AAOI specifically, though, the key point is that the company is already seeing real demand, having...
For many retirees, Social Security is an absolute lifeline. Without those monthly benefits, a large number of seniors would not have a way to cover their basic needs. But what if you're in the enviable position of having more than enough savings to cover your essential bills without Social Security ? To some degree, that takes a lot of pressure off of your filing decision. But it's a decision you ...
For many retirees, Social Security is an absolute lifeline. Without those monthly benefits, a large number of seniors would not have a way to cover their basic needs. But what if you're in the enviable position of having more than enough savings to cover your essential bills without Social Security ? To some degree, that takes a lot of pressure off of your filing decision. But it's a decision you want to get right nonetheless. Here's how to navigate it. Image source: Getty Images. Continue reading
Wall Street’s major market averages ended mixed on Thursday as markets assessed President Donald Trump’s address to the nation and the latest developments in the Middle East conflict. The tech-focused Nasdaq Composite finished +0.1%. At the same time, the benchmark S&P 500 added +0.1%, and the blue-chip Dow dipped -0.1%. The S&P 500 Health Care Index Sector ( XLV ) gained about 2% during the week....
Wall Street’s major market averages ended mixed on Thursday as markets assessed President Donald Trump’s address to the nation and the latest developments in the Middle East conflict. The tech-focused Nasdaq Composite finished +0.1%. At the same time, the benchmark S&P 500 added +0.1%, and the blue-chip Dow dipped -0.1%. The S&P 500 Health Care Index Sector ( XLV ) gained about 2% during the week. The top S&P 500 healthcare gainers and losers for the last week are as follows: Top Gainers: Charles River Laboratories International ( CRL ) +5.30% Centene ( CNC ) +4.62% Eli Lilly ( LLY ) +4.30% Incyte ( INCY ) +3.98% UnitedHealth Group ( UNH ) +3.44% Top Losers: Boston Scientific ( BSX ) -10.47% Moderna ( MRNA ) -8.16% Biogen ( BIIB ) -7.18% DaVita ( DVA ) -7.13% Insulet Corporation ( PODD ) -6.33% Here are some of the important healthcare stories from this week: Apellis surges on $5.6B buyout deal with Biogen Eye drug developer Apellis Pharmaceuticals ( APLS ) added ~135% on Tuesday after the company agreed to be acquired by Biogen ( BIIB ) for $41 per share in a deal worth $5.6B. The acquisition, expected to close in Q2 2026, will add Apellis’ ( APLS ) commercial products, Empaveli and Syfovre, to Biogen’s ( BIIB ) portfolio, which generated $689M in revenue last year, the companies said. Under the agreement, Cambridge, Massachusetts-based Biogen ( BIIB ) will pay $41 per share in cash for Apellis ( APLS ) at the closing of the deal, indicating an 86% premium to APLS’ 90-day volume-weighted average stock price. Apellis ( APLS ) investors will also be eligible for a nontransferable contingent value right (CVR), which permits them to receive two payments worth $2 per share, depending on the achievement of certain milestones related to Syfovre net sales. Biogen ( BIIB ) expects to fund the deal with a combination of cash on hand and debt and anticipates the acquisition to boost its non-GAAP diluted EPS in 2027 and compounded annual growth rate through 2030. Eli Lilly to ...
The Supreme Court heard oral arguments in Trump v. Barbara to consider whether President Trump's executive order restricting birthright citizenship was constitutional. Princeton University Center for Migration & Development Research Fellow Phillip Connor and University of Notre Dame Keough School of Global Affairs Professor Francesc Ortega join Joe Mathieu and Christina Ruffini on Bloomberg This W...
The Supreme Court heard oral arguments in Trump v. Barbara to consider whether President Trump's executive order restricting birthright citizenship was constitutional. Princeton University Center for Migration & Development Research Fellow Phillip Connor and University of Notre Dame Keough School of Global Affairs Professor Francesc Ortega join Joe Mathieu and Christina Ruffini on Bloomberg This Weekend to discuss the economic impact the move could have on the country. Watch the show LIVE every Saturday and Sunday morning. (Source: Bloomberg)
I’d forgotten how reticent Brits can be. Try to connect with strangers and they just recoil I don’t know how accurate it is that the children of immigrants are themselves well suited to leaving home. But I do know my own experience – I first left home when I was 11 to go to boarding school, and I’ve barely looked back since. My most recent leaving happened at 33, when I moved from London to New Yo...
I’d forgotten how reticent Brits can be. Try to connect with strangers and they just recoil I don’t know how accurate it is that the children of immigrants are themselves well suited to leaving home. But I do know my own experience – I first left home when I was 11 to go to boarding school, and I’ve barely looked back since. My most recent leaving happened at 33, when I moved from London to New York with a multi-year visa, clutching a receipt for the large brown boxes that would arrive some weeks after me. I have the good fortune to root well in new soil. You’ve heard of the idiomatic fish out of water? I have strong evidence to suggest that I am not that fish – I am the fish that thrives outside the water, perhaps even astride a bicycle. I moved to New York in 2016, with the intention of staying exactly 12 months: to report on an electric election year – and then return home with a chapter (“My Brooklyn Year”) of my eventual memoir tucked away in my mind. Instead, I stayed for almost a decade. Much has changed: silvery streaks have appeared at the crown of my head. My palate has widened dramatically to accommodate the vast cuisines of North America. Sometimes, when I stand up from my desk, I make an involuntary sound. And now, I am back. Coming home, just as my older bones are discovering, is an experiment in friction. Bim Adewunmi is a freelance journalist Continue reading...
Trump’s venal persona and his war on Iran will do untold damage to America’s ability to make a positive difference in the world Early one Sunday morning in the summer of 2003, I drove into the center of a little South African beach town on the Indian Ocean to pick up the Cape papers. Local news agents still employed the English custom of putting front pages on A-frame stands on the sidewalk. It wa...
Trump’s venal persona and his war on Iran will do untold damage to America’s ability to make a positive difference in the world Early one Sunday morning in the summer of 2003, I drove into the center of a little South African beach town on the Indian Ocean to pick up the Cape papers. Local news agents still employed the English custom of putting front pages on A-frame stands on the sidewalk. It was during the first months of the Iraq war, and from two blocks away, I could see the headline, in big block type: “WHY BUSH IS WORSE THAN BIN LADEN.” It was disheartening to see – especially so far from home – but it did correspond to something familiar: American favorability around the world tends to swing sharply with wars (especially ones America starts) and who the US president is. Within weeks of the American attack, the international support the US had after 9/11 was squandered. Continue reading...
Linking UK mainland with Isles of Scilly, this is last season before boat is replaced with a newer model There was a mix of anticipation and trepidation in Penzance among the passengers waiting on to board Scillonian III. Some were looking forward to an adventurous voyage on the ferry to the Isles of Scilly, which lie 30 miles off the Cornish coast; others were not quite so keen, knowing that when...
Linking UK mainland with Isles of Scilly, this is last season before boat is replaced with a newer model There was a mix of anticipation and trepidation in Penzance among the passengers waiting on to board Scillonian III. Some were looking forward to an adventurous voyage on the ferry to the Isles of Scilly, which lie 30 miles off the Cornish coast; others were not quite so keen, knowing that when there is an Atlantic swell, the Scillionian can toss and turn, a tendency that has earned it the unflattering name the “vomit comet”. Continue reading...
The long-running series in which readers answer other readers’ questions on subjects ranging from trivial flights of fancy to profound scientific and philosophical concepts This week’s question: should we be polite to voice assistants and AIs? Has a war ever ended or de-escalated because someone (eg the pope, the UN secretary general) called on the belligerents to “show restraint”? Laurence Whites...
The long-running series in which readers answer other readers’ questions on subjects ranging from trivial flights of fancy to profound scientific and philosophical concepts This week’s question: should we be polite to voice assistants and AIs? Has a war ever ended or de-escalated because someone (eg the pope, the UN secretary general) called on the belligerents to “show restraint”? Laurence Whiteside, via email Send new questions to nq@theguardian.com . Continue reading...
The former rugby star on being a tough youngster, how she became Fury on the hit TV show, and losing her dad Born in Dewsbury, West Yorkshire, in 2001, Jodie Ounsley is an athlete, television personality and author. A former England rugby sevens player, she is the first deaf female rugby player for a senior England side. In 2024, she joined the BBC revival of the series Gladiators, in which she co...
The former rugby star on being a tough youngster, how she became Fury on the hit TV show, and losing her dad Born in Dewsbury, West Yorkshire, in 2001, Jodie Ounsley is an athlete, television personality and author. A former England rugby sevens player, she is the first deaf female rugby player for a senior England side. In 2024, she joined the BBC revival of the series Gladiators, in which she competes as Fury; the same year, she was one of the presenters for the 2024 Paralympics. Her second book, Strong Girls, co-written with Becky Grey, is out on 9 April. I was six and had just got back from karate practice when Mum said, “Right, let’s take a picture!” Most kids would have stood politely and smiled, but my first instinct was to do the deadliest pose. Continue reading...
Exclusive: Animal welfare charities ‘bitterly disappointed’ that Labour plans to backtrack on manifesto commitments The government is to break a manifesto commitment to ban foie gras imports, and has declined to stop fur imports, after the EU made these red lines in its discussions for a trade deal. Animal welfare charities say they are “bitterly disappointed” that ministers are failing to use pow...
Exclusive: Animal welfare charities ‘bitterly disappointed’ that Labour plans to backtrack on manifesto commitments The government is to break a manifesto commitment to ban foie gras imports, and has declined to stop fur imports, after the EU made these red lines in its discussions for a trade deal. Animal welfare charities say they are “bitterly disappointed” that ministers are failing to use powers granted by Brexit to restrict the import of these “cruel” items. Continue reading...
A Chinese cargo plane powered by a hydrogen-fuelled engine has successfully completed its maiden flight, marking a milestone in China’s push for green aviation. The 7.5-tonne uncrewed aircraft is powered by the world’s most powerful hydrogen turboprop of its kind, capable of generating more than 1 megawatt. The engine operated normally and remained in good condition throughout the 16-minute test f...
A Chinese cargo plane powered by a hydrogen-fuelled engine has successfully completed its maiden flight, marking a milestone in China’s push for green aviation. The 7.5-tonne uncrewed aircraft is powered by the world’s most powerful hydrogen turboprop of its kind, capable of generating more than 1 megawatt. The engine operated normally and remained in good condition throughout the 16-minute test flight on Saturday, state news agency Xinhua reported, citing the Aero Engine Corporation of China...
The first thing you notice about the Slate Truck is its size. It's small, surprisingly so. In a country where trucks often come with their own zip code, Slate's pickup is refreshingly puny, measuring 174.6 inches long, 70.6 inches wide, and 69.3 inches tall, with a curb weight of approximately 3,602 pounds (1,634kg). As a reference point, it's nearly the same size as Marty McFly's 1985 Toyota SR5 ...
The first thing you notice about the Slate Truck is its size. It's small, surprisingly so. In a country where trucks often come with their own zip code, Slate's pickup is refreshingly puny, measuring 174.6 inches long, 70.6 inches wide, and 69.3 inches tall, with a curb weight of approximately 3,602 pounds (1,634kg). As a reference point, it's nearly the same size as Marty McFly's 1985 Toyota SR5 from Back to the Future . But inside, that diminutive feeling disappears, as I found myself with ample amounts of head- and legroom. As a relatively tallish guy (over 6 feet) who often feels cramped in most vehicles, I couldn't believe the amount o … Read the full story at The Verge.
Elisank79/iStock via Getty Images Real Estate Weekly Outlook U.S. equity markets snapped a five-week losing streak this week, while interest rates retreated from multi-month highs, as resilient economic data helped push back against stagflation concerns amid a continuation of the conflict with Iran. Despite another surge in oil prices to the cusp of multi-decade highs, markets found footing as a s...
Elisank79/iStock via Getty Images Real Estate Weekly Outlook U.S. equity markets snapped a five-week losing streak this week, while interest rates retreated from multi-month highs, as resilient economic data helped push back against stagflation concerns amid a continuation of the conflict with Iran. Despite another surge in oil prices to the cusp of multi-decade highs, markets found footing as a steady stream of employment data suggested that the U.S. economy remains more resilient than recent volatility had implied. While shy of the immediate ceasefire investors had hoped for, markets welcomed the prime-time address from the White House, which provided some clarity and a timeline for key objectives. Meanwhile, vessel traffic through the Strait of Hormuz improved during the week, though flows remain well below normal levels. Still, risks remained evident after reports that Iranian forces shot down a U.S. fighter jet and damaged another during rescue operations, underscoring the ever-present potential for escalation. Hoya Capital Snapping its longest losing streak since 2022, the S&P 500 rebounded 3.4% this week, climbing back to within 5% of its January record-high. After entering "correction territory" last week, the tech-heavy Nasdaq 100 led the advance this week with gains of 4.0%. The Mid-Cap 400 and Small-Cap 600 each advanced 3.1%, extending their recent relative resilience amid continued volatility tied to geopolitical developments. Communication services and technology stocks led the rally as investors rotated back into growth-oriented sectors after a first quarter defined by a pronounced growth-to-value rotation that had favored energy, financials, and other cyclical segments. Energy stocks were among the laggards despite the surge in crude prices. Buoyed by the sharp pullback in long-term interest rates from a multi-month high, real estate equities were among the leaders this week, aided by another wave of REIT M&A news. The Equity REIT Index rallied 3.7% ...