This interactive model has a limit on the number of drivers that can be modified in a single scenario. When the limit is reached those drivers not yet modified become disabled for modification. Your options are: Create new scenarios to try different combinations of driver modifications Reset one of your driver modifications in this scenario in order to modify another driver
This interactive model has a limit on the number of drivers that can be modified in a single scenario. When the limit is reached those drivers not yet modified become disabled for modification. Your options are: Create new scenarios to try different combinations of driver modifications Reset one of your driver modifications in this scenario in order to modify another driver
This interactive model has a limit on the number of drivers that can be modified in a single scenario. When the limit is reached those drivers not yet modified become disabled for modification. Your options are: Create new scenarios to try different combinations of driver modifications Reset one of your driver modifications in this scenario in order to modify another driver
This interactive model has a limit on the number of drivers that can be modified in a single scenario. When the limit is reached those drivers not yet modified become disabled for modification. Your options are: Create new scenarios to try different combinations of driver modifications Reset one of your driver modifications in this scenario in order to modify another driver
Key Points Over time, Bitcoin’s market cap should advance toward the $34 trillion valuation of gold. Besides being portable, transactable, and censorship resistant, the crypto’s hard supply cap is a compelling trait. It’s critical for Bitcoin to become a favored reserve asset among central banks. 10 stocks we like better than Bitcoin › It's almost impossible to argue with the assumption that perha...
Key Points Over time, Bitcoin’s market cap should advance toward the $34 trillion valuation of gold. Besides being portable, transactable, and censorship resistant, the crypto’s hard supply cap is a compelling trait. It’s critical for Bitcoin to become a favored reserve asset among central banks. 10 stocks we like better than Bitcoin › It's almost impossible to argue with the assumption that perhaps all investors would've loved to have owned Bitcoin (CRYPTO: BTC) over the past decade. That's because the leading digital asset's price has skyrocketed 19,300% during that time, even after a sharp pullback in recent weeks. However, Bitcoin still experiences periods of extreme volatility. This is exactly what's going on right now, as it trades 41% off its peak. While the so-called experts will always try to sound smart and act as if they know exactly what's going on, the reality is that pinpointing the reasons for the leading cryptocurrency's recent dip is extremely difficult. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks » Ultimately, it's always important for investors to keep their focus on the long term. With that being said, I predict that Bitcoin's price will reach $850,000 in 10 years. Looking at the math For Bitcoin to hit $850,000 by early 2036, its price would need to increase by about 1,060% (based on the current price of $73,200). Astute readers will quickly realize that this would imply a much lower rate of return than what was achieved in the past. Given that Bitcoin is no longer some esoteric financial asset, and that it's recognized on a global scale, the gains should come down going forward. Naturally, there is less upside as the risk of investing in it subsides. Comparing Bitcoin to gold makes the most sense. The estimated value of all of the gold that's above ground is more than $34 trillion. I believe that it's totally possible that...
What a night. I’ve just got home from the Nags Head, Peterchurch, having attended the Eskleyside Agricultural Society’s annual silage competition. The Nags is one of the great social spots in the Golden valley. Here you can meet potato growers, social workers, sheep farmers, stranded pilgrims, water diviners and Thomas the cat. I’ve witnessed carol singing and dancing on tables, and the fire only ...
What a night. I’ve just got home from the Nags Head, Peterchurch, having attended the Eskleyside Agricultural Society’s annual silage competition. The Nags is one of the great social spots in the Golden valley. Here you can meet potato growers, social workers, sheep farmers, stranded pilgrims, water diviners and Thomas the cat. I’ve witnessed carol singing and dancing on tables, and the fire only goes out for two weeks each year, in the height of summer. Tonight the focus is silage. Grass, maize and cereal crops, harvested last summer, have been under wraps ever since in the local barns. Starved of oxygen, they have been steadily “pickling”, to ensure they’re packed with nutrients when fed to hungry cattle and sheep. I meet the judges out the back, where a livestock trailer holds the entries for all five categories: baled silage, baled haylage, grass pit, maize pit and whole crop pit; this last one is a seed mix of wheat, barley and grasses sown specifically for silage and cut in June at a young age. The smell from the bags is potent – too potent for the pub – but it’s also a beautiful smell; when you get a really good bit of silage, you know it. It looks, dare I say, almost edible. At some competitions the silage is analysed in a lab for metabolisable energy and crude protein, but here the science of sun and sugar is appraised by hand and nose. To that end, the judges crumble, rub and sniff the goods, testing for sweetness, texture and colour. At about 8.30pm they enter the bar to a cacophony of cheers and heckles. Prizes are handed out; among the winners are Eric Gwatkin for the baled silage, while Simon Bigley takes the crown for his baled haylage. A judge tells me that despite the summer drought halving tonnage per acre, the quality this year was high. Gatherings like this feed the soul of rural communities. This particular event depends on the existence of smaller hill farms around the valley, and there is always the fear that, as farms amalgamate into larger h...
LD/iStock via Getty Images The U.S. Federal Reserve may be heading towards a significant policy shift as former Fed governor Kevin Warsh emerges as the nominee to replace Jerome Powell as Chair. Scott Colbourne, Managing Director and Head of Active Fixed Income at TD Asset Management, discusses why a Warsh-led Fed could lean into a more limited central bank role and what it means for markets. Tran...
LD/iStock via Getty Images The U.S. Federal Reserve may be heading towards a significant policy shift as former Fed governor Kevin Warsh emerges as the nominee to replace Jerome Powell as Chair. Scott Colbourne, Managing Director and Head of Active Fixed Income at TD Asset Management, discusses why a Warsh-led Fed could lean into a more limited central bank role and what it means for markets. Transcript Kim Parlee - The US Federal Reserve is heading towards a new policy direction as it awaits a change in leadership. President Trump has nominated Kevin Warsh, a former Fed Governor as Fed Chair, raising questions for some about central bank independence, the outlook for interest rates, and the US dollar. At the same time, there has been stress in global bond markets, including recent warning signs out of Japan that are adding to investor unease. Joining us now with his perspective is Scott Colbourne, Managing Director and Head of Active Fixed Income at TD Asset Management. You know, what I could have done when I started this interview was just list all the things that are happening in the world, and I think that would take the 18 minutes that we have together. We wouldn't get a chance to talk. I mean, it's hard. There's a lot happening. Scott Colbourne - So much happening. Kim Parlee - Yeah. Let's start with the Fed. So what would a Warsh Fed look like in your opinion, and how different would it be than what markets may have been used to? What are markets expecting? Scott Colbourne - Yeah. I mean, to start off, he's a bit traditional. It's a traditional pick in the sense -- you mentioned he was a governor from 2006 to 2011. He was nominated at 35. So he was the youngest in Fed history. So credentials there. He was one of three considered for the job when Powell got it in Trump 1.0. And he was viewed as an inflation hawk. So you could sort of say he's a traditionalist in that respect. But I think what we're seeing is differences emerge. And we'll start with, he wants l...
Maksim Labkouski/iStock via Getty Images Originally Published on February 4, 2026 By Jennifer Nash The Institute for Supply Management (ISM) released its January Services Purchasing Managers' Index (PMI), with the headline composite index at 53.8. This was higher than the forecast of 53.5 and keeps the index at its highest level since December 2024. Here is an excerpt from the report summary : Mil...
Maksim Labkouski/iStock via Getty Images Originally Published on February 4, 2026 By Jennifer Nash The Institute for Supply Management (ISM) released its January Services Purchasing Managers' Index (PMI), with the headline composite index at 53.8. This was higher than the forecast of 53.5 and keeps the index at its highest level since December 2024. Here is an excerpt from the report summary : Miller continues, “January’s Services PMI ® is the result of a second month in a row of all four subindexes being in expansion territory. December 2024 and January 2025 featured similar subindex performance, but in the last two months, the PMI ® is stronger year over year by an average of 0.7 percentage point. The Employment Index expanded for a second straight month for the first time since January and February 2025. These are positive signs for continued expansion; however, the closely watched Prices Index continues to creep up, now 0.2 percentage point above its 12-month seasonally adjusted average of 66.4 percent. There was more respondent commentary in January on tariff impacts and uncertainty, potentially the result of annual contract renewals and geopolitical tensions. Gasoline and diesel fuel continued to be cited as commodities down in price. With the highest Business Activity and Supplier Deliveries index readings since October 2024, indicating higher business activity levels and slower supplier deliveries, whether pricing increases will stick or expand needs to be closely watched.” Here is a table showing the PMI's components. Unlike its much older kin, the ISM manufacturing series, there is relatively little history for ISM's non-manufacturing data, especially for the headline composite Index, which dates from 2008. The chart below shows the non-manufacturing composite. The more interesting and useful sub-component is the non-manufacturing business activity Index. In January, the index rose for a fourth straight month to 57.4, its highest level since December 2024....
This week, AI chipmaker Cerebras Systems announced that it raised $1 billion in fresh capital at a valuation of $23 billion — a nearly threefold increase from the $8.1 billion valuation the Nvidia rival had reached just six months earlier. While the round was led by Tiger Global, a huge part of the new capital came from one of the company’s earliest backers: Benchmark Capital. The prominent Silico...
This week, AI chipmaker Cerebras Systems announced that it raised $1 billion in fresh capital at a valuation of $23 billion — a nearly threefold increase from the $8.1 billion valuation the Nvidia rival had reached just six months earlier. While the round was led by Tiger Global, a huge part of the new capital came from one of the company’s earliest backers: Benchmark Capital. The prominent Silicon Valley firm invested at least $225 million in Cerebras’ latest round, according to a person familiar with the deal. Benchmark first bet on 10-year-old Cerebras when it led the startup’s $27 million Series A in 2016. Since Benchmark deliberately keeps its funds under $450 million, the firm raised two separate vehicles, both called ‘Benchmark Infrastructure,’ according to regulatory filings. According to the person familiar with the deal, these vehicles were created specifically to fund the Cerebras investment. Benchmark declined to comment. What sets Cerebras apart is the sheer physical scale of its processors. The company’s Wafer Scale Engine, its flagship chip announced in 2024, measures approximately 8.5 inches on each side and packs 4 trillion transistors into a single piece of silicon. To put that in perspective, the chip is manufactured from nearly an entire 300-millimeter silicon wafer, the circular discs that serve as the foundation for all semiconductor production. Traditional chips are thumbnail-sized fragments cut from these wafers; Cerebras instead uses almost the whole circle. This architecture delivers 900,000 specialized cores working in parallel, allowing the system to process AI calculations without shuffling data between multiple separate chips (a major bottleneck in conventional GPU clusters). The company says the design enables AI inference tasks to run more than 20 times faster than competing systems. The funding comes as Cerebras, based in Sunnyvale, Calif., gains momentum in the AI infrastructure race. Last month, Cerebras signed a multi-year agreeme...
This week, AI chipmaker Cerebras Systems announced that it raised $1 billion in fresh capital at a valuation of $23 billion — a nearly threefold increase from the $8.1 billion valuation the Nvidia rival had reached just six months earlier. While the round was led by Tiger Global, a huge part of the new capital came from one of the company’s earliest backers: Benchmark Capital. The prominent Silico...
This week, AI chipmaker Cerebras Systems announced that it raised $1 billion in fresh capital at a valuation of $23 billion — a nearly threefold increase from the $8.1 billion valuation the Nvidia rival had reached just six months earlier. While the round was led by Tiger Global, a huge part of the new capital came from one of the company’s earliest backers: Benchmark Capital. The prominent Silicon Valley firm invested at least $225 million in Cerebras’ latest round, according to a person familiar with the deal. Benchmark first bet on 10-year-old Cerebras when it led the startup’s $27 million Series A in 2016. Since Benchmark deliberately keeps its funds under $450 million, the firm raised two separate vehicles, both called ‘Benchmark Infrastructure,’ according to regulatory filings. According to the person familiar with the deal, these vehicles were created specifically to fund the Cerebras investment. Benchmark declined to comment. What sets Cerebras apart is the sheer physical scale of its processors. The company’s Wafer Scale Engine, its flagship chip announced in 2024, measures approximately 8.5 inches on each side and packs 4 trillion transistors into a single piece of silicon. To put that in perspective, the chip is manufactured from nearly an entire 300-millimeter silicon wafer, the circular discs that serve as the foundation for all semiconductor production. Traditional chips are thumbnail-sized fragments cut from these wafers; Cerebras instead uses almost the whole circle. This architecture delivers 900,000 specialized cores working in parallel, allowing the system to process AI calculations without shuffling data between multiple separate chips (a major bottleneck in conventional GPU clusters). The company says the design enables AI inference tasks to run more than 20 times faster than competing systems. The funding comes as Cerebras, based in Sunnyvale, Calif., gains momentum in the AI infrastructure race. Last month, Cerebras signed a multi-year agreeme...
Daniel Grizelj/DigitalVision via Getty Images Introduction & Investment Thesis In June 2025, I published a hold-rated article on Cardinal Health, Inc. ( CAH ) given its strong growth, which was marred by tariff uncertainties and increased costs affecting its profitability. Since that publication, the stock has gained more than 48%, beating the S&P 500 significantly, a testament to its resilience. ...
Daniel Grizelj/DigitalVision via Getty Images Introduction & Investment Thesis In June 2025, I published a hold-rated article on Cardinal Health, Inc. ( CAH ) given its strong growth, which was marred by tariff uncertainties and increased costs affecting its profitability. Since that publication, the stock has gained more than 48%, beating the S&P 500 significantly, a testament to its resilience. Seeking Alpha The company’s resilience is further underscored by its standout Q2 2026 performance that not only crushed expectations but also signaled accelerating momentum in its transformation towards high margins. The results which were released yesterday (5 th , February 2026), showed a solid top line growth, notable margin expansion and broad-based strength across segments. This attractive quarterly report was wrapped by a raised FY guidance for the second time in recent months. With this background, I am bullish on CAH and I upgrade it to a buy rating due to its resilience. I recommend the stock to investors seeking steady earnings growth and capital return in the health sector. Q2 2026 Highlights: Sustained Growth & Improving Margins CAH reported a Q2 total revenue of about $65.6 billion, a YoY growth of approximately 19%. This beat the consensus estimates by more than $390 million . This solid growth was driven primarily by strong demand in the pharmaceutical distribution and specialty solutions which saw a YoY revenue growth of 19%. CAH Q2 2026 Presentation This marked the fourth successive quarter of positive YoY revenue growth and the second consecutive quarter of double-digit revenue growth an indication of growing upward revenue momentum. Moving to profitability, gross margin increased by 24% YoY to approximately $2.4 billion reflecting the company’s shift towards higher-margin areas like pharmaceuticals. This improving profitability is also seen in its non-operating earnings which surged by 38% to $877 million. Above all, its non-GAAP diluted EPS came in at $2...