India is buying crude from Iran among other countries in order to navigate the current energy crisis, the country’s oil ministry said, denying payment hurdles were impeding those purchases. The statement is a rare public recognition of energy ties that India largely abandoned as a result of US sanctions, but has begun to rekindle thanks to the current conflict and a subsequent Washington waiver al...
India is buying crude from Iran among other countries in order to navigate the current energy crisis, the country’s oil ministry said, denying payment hurdles were impeding those purchases. The statement is a rare public recognition of energy ties that India largely abandoned as a result of US sanctions, but has begun to rekindle thanks to the current conflict and a subsequent Washington waiver allowing purchases of seaborne Iranian crude. The refining industry has been grappling with trading, shipping and banking arrangements, as Tehran remains under restrictive sanctions. “Amid Middle East supply disruptions, Indian refiners have secured their crude oil requirements, including from Iran,” the ministry said in a statement on X. There was “no payment hurdle for Iranian crude imports, contrary to the rumours being circulated.” The ministry also denied reports that an Iranian crude vessel was diverted from Vadinar, India, to China because of payment troubles, adding vessel destinations are often indicative. It confirmed, however, the arrival of Iranian liquefied petroleum gas, with an LPG vessel carrying around 44,000 tons currently discharging in Mangalore, according to the statement. India has been severely impacted by the month-long war in the Persian Gulf and particularly by the effective closure of the Strait of Hormuz. Until recently, the world’s third-largest oil importer relied on the Middle East for roughly half of its crude oil and the majority of its LPG, used for cooking. India became a major buyer of seaborne Russian crude after the invasion of Ukraine in 2022, but its refiners have typically stayed away from blacklisted oil from Venezuela or Iran, wary of getting tangled in US sanctions. Since the start of the conflict, India has negotiated with Iran to allow the safe passage of vessels previously stuck in the Persian Gulf.
syahrir maulana/iStock via Getty Images Index performance is not illustrative of fund performance. It is not possible to invest directly in an index. Yield alone should not be the basis for an investment decision. Past performance is no guarantee of future results. The views expressed are solely those of the author, are for illustrative purposes only, and are not investment advice. Taxable equival...
syahrir maulana/iStock via Getty Images Index performance is not illustrative of fund performance. It is not possible to invest directly in an index. Yield alone should not be the basis for an investment decision. Past performance is no guarantee of future results. The views expressed are solely those of the author, are for illustrative purposes only, and are not investment advice. Taxable equivalent yield assumes a 35% federal tax rate and does not account for state or local taxes. The Setup Advisors Should Be Paying Attention To We don't often get a moment where the rate environment, the yield curve, and credit quality all line up at the same time. Right now, with long municipal bonds, that's exactly what's happening. While the rate path remains uncertain with a new Fed leadership transition underway, the broader direction of the cycle and market expectations for eventual easing continue to favor long-duration fixed income. Additionally, muni supply is running hot. Cities and states issued a record near $600 billion in bonds last year, and 2026 is on pace to top that, driven by aging infrastructure needs and a surge in power sector demand tied to AI buildout. More supply means upward pressure on muni yields, even as the broader rate environment shifts. That combination is rare, and it's creating real value in the long end of the curve. Muni Issuance Hits Record High in 2025 Source: SIFMA, March 19, 2026. The Numbers Are Hard to Ignore At roughly 4.5% nominal, 30-year AAA munis are translating to approximately 6.9–7.0% taxable equivalent yield for investors in the 35% bracket. That puts them about 140–150 basis points above comparable long corporates, and nearly 200 basis points over Treasuries. That kind of spread is the type of excess income you typically only see during periods of market stress. The difference here is that this isn't a credit dislocation story. It's being driven by rates, which may present a more favorable risk/reward profile relative to histori...
When OpenAI commercially released ChatGPT in late 2022, Nvidia (NASDAQ: NVDA) was primarily seen as a graphics chip designer marketing its products toward computer gaming and secondarily as a chip provider for cryptocurrency mining operations. What most investors didn't realize was that the company's hardware was even more versatile than people had given it credit for. From 2023 to 2025, its chips...
When OpenAI commercially released ChatGPT in late 2022, Nvidia (NASDAQ: NVDA) was primarily seen as a graphics chip designer marketing its products toward computer gaming and secondarily as a chip provider for cryptocurrency mining operations. What most investors didn't realize was that the company's hardware was even more versatile than people had given it credit for. From 2023 to 2025, its chipsets became the backbone of generative artificial intelligence (AI), and the incredible demand for its products and software helped Nvidia become the most valuable company in the world . Big tech has somewhat fallen out of favor with growth investors throughout 2026. As of this writing (April 2), Nvidia's stock was trading down 5.2% on the year. But not all AI chip stocks have been perceived negatively in recent months. Shares of Micron Technology (NASDAQ: MU) are up 27% so far this year and nearly 309% over the last 12 months. Let's look into the tailwinds fueling the rise in Micron stock right now. Could it be on its way to becoming the new Nvidia? Continue reading
Toast (NYSE: TOST) is at the intersection of three hard-hit sectors thus far in 2026: software, payments, and restaurants. The S&P North American Technology Software Index was down nearly 25% in the first quarter, while the Nasdaq CTA Global Digital Payments Index sank 20% and the S&P 500 Restaurants Sub-Industry Index fell 5%. Against that backdrop, it's not surprising the stock lost a quarter of...
Toast (NYSE: TOST) is at the intersection of three hard-hit sectors thus far in 2026: software, payments, and restaurants. The S&P North American Technology Software Index was down nearly 25% in the first quarter, while the Nasdaq CTA Global Digital Payments Index sank 20% and the S&P 500 Restaurants Sub-Industry Index fell 5%. Against that backdrop, it's not surprising the stock lost a quarter of its value in the first quarter, as it was hit from all sides. Continue reading
Five European Union finance ministers are calling for a tax on windfall profits of energy companies in reaction to rising fuel prices due to the Iran war, according to a letter from the ministers to the EU Commission seen by Reuters on Saturday. The finance ministers of Germany, Italy, Spain, Portugal and Austria made the joint call in a letter dated Friday, saying such a measure would be a signa...
Five European Union finance ministers are calling for a tax on windfall profits of energy companies in reaction to rising fuel prices due to the Iran war, according to a letter from the ministers to the EU Commission seen by Reuters on Saturday. The finance ministers of Germany, Italy, Spain, Portugal and Austria made the joint call in a letter dated Friday, saying such a measure would be a signal that “we stand united and are able to take action”. “It would also send a clear message that those...
iQoncept/iStock via Getty Images Mobileye Global Inc. ( MBLY ) is still struggling to transition from a leader in advanced driver assistance features for vehicles to fully autonomous driving. A prime issue is that the market has shifted to where passenger vehicles haven't moved forward with autonomous driving goals at the same speed as robotaxis, where Mobileye isn't as heavily involved. My invest...
iQoncept/iStock via Getty Images Mobileye Global Inc. ( MBLY ) is still struggling to transition from a leader in advanced driver assistance features for vehicles to fully autonomous driving. A prime issue is that the market has shifted to where passenger vehicles haven't moved forward with autonomous driving goals at the same speed as robotaxis, where Mobileye isn't as heavily involved. My investment thesis remains Neutral on the stock, looking for an inflection point in the market. Source: Finviz Robotaxi Struggles Mobileye is the global leader in technology and software for advanced driver assistance systems (ADAS), primarily focused on the EyeQ SoC offering. The company generally operates up to the L2 level while the market is looking to shift to L4 robotaxis. The company has a massive 8-year future expected automotive revenue pipeline of $24.5 billion , up 42% over the last couple of years. The pipeline amounts to ~$3 billion in annual revenue over the period compared to current annual revenues of nearly $2 billion. Source: Mobileye Global presentation Mobileye ships about 35 million EyeQ chips on an annual basis, but the issue is the transition from base ADAS services to AVs. The robotaxi world is moving full-speed ahead with Waymo, owned by Google ( GOOG ), WeRide ( WRD ), and potentially Tesla ( TSLA ), with Mobileye generally excluded from participating with the big players in this market. The company has announced multiple deals with AV programs, but most of these deals aren't with market leading players. Moia, owned by Volkswagen Group ( VWAGY ), is working on a robotaxi in the Los Angeles market, where Waymo has fully operated since November 2024 . Source: Mobileye Global presentation Mobileye likes to point out that Volkswagen Autonomous Mobility has plans to offer robotaxi services across 6 cities by the end of 2027 and target a fleet of 100,000 vehicles by 2033. Again, Mobileye has promising opportunities in the robotaxi space, but the technology and ...
Maskot/DigitalVision via Getty Images Investment Thesis Last July, I recommended buying shares of Check Point Software ( CHKP ), but since then the price has dropped by almost 35% . In my opinion, such dynamics are more likely to be related to indirect factors (for example, geopolitical ones) than to business affairs. The company's reports in the second half of 2025 were strong and ahead of consen...
Maskot/DigitalVision via Getty Images Investment Thesis Last July, I recommended buying shares of Check Point Software ( CHKP ), but since then the price has dropped by almost 35% . In my opinion, such dynamics are more likely to be related to indirect factors (for example, geopolitical ones) than to business affairs. The company's reports in the second half of 2025 were strong and ahead of consensus forecasts for revenue and EPS. At the same time, the Q4 report turned out to be slightly less successful—the market reacted negatively to the fact that Check Point did not beat the revenue consensus. In my opinion, all these factors are in no way the reason for such a strong drop in stocks. Demand for the company's solutions remains high, with the average annual business growth rate consistently above 5-6% over the past 5 years, while Check Point has a minimal debt burden, sponsoring business development through high free cash flow. In addition, the company is actively buying shares from the market to support EPS and shareholders. I revised my DCF model towards greater conservatism and got a fair share price in the base scenario of $160 with an upside of 10% to the current price ($145.76 at the time of writing). I keep the buy rating. Building an AI Security Platform via Targeted Acquisitions Before proceeding to the financial analysis of a business, I recommend that you read, among other things, my first article about Check Point Software. 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 In this chapter, I would like to mention some recent corporate and business events that have already had or will have an impa...
The cakes – usually baked in the shape of a lamb using a special pan – have a long history in Central Europe, from the German osterlamm, to the Polish baranek wielkanocny, to the Alsatian lammele. (Image credit: Charra Jarosz)
The cakes – usually baked in the shape of a lamb using a special pan – have a long history in Central Europe, from the German osterlamm, to the Polish baranek wielkanocny, to the Alsatian lammele. (Image credit: Charra Jarosz)
This leads Meta Platforms CEO Mark Zuckerberg to think smartglasses are finally ready to live up to their potential. Fortunately, there is a more direct way to play this particular vision: EssilorLuxottica the under-the-radar $100-billion company that manufactures the tech giant’s Ray-Ban smartglasses. The company’s shares, which trade in France, have shed more than a third of their value from rec...
This leads Meta Platforms CEO Mark Zuckerberg to think smartglasses are finally ready to live up to their potential. Fortunately, there is a more direct way to play this particular vision: EssilorLuxottica the under-the-radar $100-billion company that manufactures the tech giant’s Ray-Ban smartglasses. The company’s shares, which trade in France, have shed more than a third of their value from recent highs.