David Herlianto/iStock via Getty Images One very interesting growth play that investors should be aware of is XPEL, Inc. ( XPEL ). In recent years, management has succeeded in growing the top line for the business. Profitability has been admittedly mixed. But on the whole, the trajectory for the company is positive. Near term, we could see some weakness simply because of the space that it operates...
David Herlianto/iStock via Getty Images One very interesting growth play that investors should be aware of is XPEL, Inc. ( XPEL ). In recent years, management has succeeded in growing the top line for the business. Profitability has been admittedly mixed. But on the whole, the trajectory for the company is positive. Near term, we could see some weakness simply because of the space that it operates in. But in the long run, I don't have any worries about the company or its viability. Its overall balance sheet looks solid, and it is healthy from a cash flow standpoint. Perhaps my only issue is the fact that the stock is not as cheap as I would like it to be. On both an absolute basis and relative to other similar firms, the business looks somewhere between being fairly valued and a bit on the pricey end of the spectrum. This is not enough for me to take a bearish stance on the business. But I do think that a 'hold' rating is the most generous that I can be with the company at this moment. Taking XPEL for a Ride To many investors, XPEL might not seem that exciting a prospect. After all, it only serves as a supplier of protective films, coatings, and related services, mostly to the automobile aftermarket space, as well as to new car dealerships and the OEM industry for automobiles. Outside of the electric vehicle market, the automotive space really has not been exciting in recent years. Yes, the consumer side of the equation has actually been quite healthy leading up to this year thanks to consumers front-loading demand because of worries over tariffs and because of a splurge in buying activity to get ahead of the expiration of the $7,500 electric vehicle tax credit that expired in September of last year. But this year, we are likely to see demand worsen because of broader economic conditions. And when it comes to the commercial side, the picture has been downright abysmal because of a weakening economic climate and excess capacity. It is important to point out that, in ...
Shift4 Payments, Inc. 6 SER A CNV PREF ( FOUR.PR.A ) declares $1.50/share dividend . Payable May 1; for shareholders of record April 15; ex-div April 15. See FOUR.PR.A Dividend Scorecard, Yield Chart, & Dividend Growth. More on Shift4 Payments Shift4 Vs. Global Payments: Which Is The Better Recovery Play? Shift4 Payments, Inc. (FOUR) Presents at Wolfe Research FinTech Forum Transcript Shift4 Payme...
Shift4 Payments, Inc. 6 SER A CNV PREF ( FOUR.PR.A ) declares $1.50/share dividend . Payable May 1; for shareholders of record April 15; ex-div April 15. See FOUR.PR.A Dividend Scorecard, Yield Chart, & Dividend Growth. More on Shift4 Payments Shift4 Vs. Global Payments: Which Is The Better Recovery Play? Shift4 Payments, Inc. (FOUR) Presents at Wolfe Research FinTech Forum Transcript Shift4 Payments, Inc. (FOUR) Presents at 47th Annual Raymond James Institutional Investor Conference Transcript Most and least shorted large-cap financial stocks at the end of March Raymond James downgrades Fiserv, Global Payments, Shift4 Payments
We have put together stories from our coverage last weekend to help you stay informed about news across Asia and beyond. If you would like to see more of our reporting, please consider subscribing. 1. Iran points finger at Saudis and UAE after Chinese-made drone was shot down 2. Lead scientist reveals true purpose of China’s ultra-large underwater drone 3. Hongkongers crossing border for Easter br...
We have put together stories from our coverage last weekend to help you stay informed about news across Asia and beyond. If you would like to see more of our reporting, please consider subscribing. 1. Iran points finger at Saudis and UAE after Chinese-made drone was shot down 2. Lead scientist reveals true purpose of China’s ultra-large underwater drone 3. Hongkongers crossing border for Easter break wowed by new Shenzhen tech museum 4. Australia’s 180-degree shift from 5 years ago: China in...
Hedge funds have turned net bullish on wheat for the first time in nearly four years, betting on higher prices driven by dry weather in the US and a shortage of fertilizer and fuel arising from the war in the Middle East. Long positions on Chicago wheat outnumbered short contracts by 8,641 in the week ended March 31, according to weekly data published Friday by the US Commodity Futures Trading Com...
Hedge funds have turned net bullish on wheat for the first time in nearly four years, betting on higher prices driven by dry weather in the US and a shortage of fertilizer and fuel arising from the war in the Middle East. Long positions on Chicago wheat outnumbered short contracts by 8,641 in the week ended March 31, according to weekly data published Friday by the US Commodity Futures Trading Commission. This reversed a net-short position that had persisted since June 2022. The shift was driven by a surge in long positions to 117,375 lots, the highest total in more than six years. Short positions fell to 108,734 lots, according to the CFTC data. The US-Israeli war with Iran, now in its sixth week, has caused severe damage to energy infrastructure in the Middle East and disrupted fuel and fertilizer flows through the Strait of Hormuz that links the Persian Gulf to global markets. Farmers across the world are rushing to secure supplies of critical inputs and, in some cases, switching to crops that are less dependent on nutrients. War-related disruptions are leading to concerns around food security and have reversed sentiment in agricultural markets that were earlier pressured by ample supply. In March, wheat prices hit their highest in a year before paring gains. Read More: Australia to Plant Less Wheat as Global Fertilizer Woes Deepen Wheat prices have also been supported by prolonged dryness in the US Plains, which has threatened production in a key growing area. However, showers were expected in some areas this week, according to the US Weather Prediction Center. The latest forecast, as well as some profit-taking, contributed to a decline in prices on Monday. Wheat fell 1.3% to $5.90 a bushel as of 12:25 p.m. Singapore time Soybeans were down 0.3%, and corn fell 0.8%
da-kuk/E+ via Getty Images By Elior Manier Week in review - A sentiment rollercoaster as markets price in peak conflict What a rollercoaster week! It began with soaring optimism and ended with a brutal geopolitical reality check, capped off by a blockbuster jobs report dropped into an empty market. The Early Week Melt-Up As March closed and April began, risk assets caught a massive bid. Investors ...
da-kuk/E+ via Getty Images By Elior Manier Week in review - A sentiment rollercoaster as markets price in peak conflict What a rollercoaster week! It began with soaring optimism and ended with a brutal geopolitical reality check, capped off by a blockbuster jobs report dropped into an empty market. The Early Week Melt-Up As March closed and April began, risk assets caught a massive bid. Investors rushed to buy the dip amid widespread speculation that the US-Iran war was nearing a diplomatic resolution. Stocks exploded higher, the US dollar formed a double top (which then failed), and oil prices corrected sharply as the war premium appeared to evaporate. The April Fool’s Fakeout Unfortunately, this optimism turned out to be a cruel April Fool's fakeout. By Thursday, the narrative had violently reversed. A hawkish White House address from President Trump completely derailed hopes for peace, reawakening fears of a prolonged conflict and potential ground operations. Energy markets took the brunt of the panic WTI crude exploded by 14% overnight, flashing up to $114 per barrel before settling back above $110. The stock market faced severe intraday chaos, gapping significantly lower at the open as algorithms dumped risk, though frantic short-covering later helped major benchmarks finish relatively unchanged. Precious metals also experienced wild volatility as traders scrambled to re-price the escalating conflict. WTI 4H Chart - April 3, 2026 (Source: TradingView) The week concluded with a curveball, and luckily no one is there to trade it. The March Non-Farm Payrolls report, released on Good Friday, showed the labor market roaring back to life. Unemployment dropped to 4.3%, private payrolls surged by an unexpected 186K, and wage growth cooled to +0.2% month-over-month. The report cements the Federal Reserve’s holding stance - don't expect to see cuts anytime soon. Stock markets are closed for the holiday and futures stuck in a highly illiquid, abbreviated session, leaving ...
Donny DBM/iStock via Getty Images Performance During the first quarter of 2026 Night Watch Investment Management LP appreciated by 2.69% net of fees. Night Watch Investment Partners LP – Net Performance (in USD) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year 2024 -0.82% 0.58% 7.09% -0.24% 5.14% -5.20% 9.11% -0.23% -1.34% -2.40% 2.10% -2.92% 10.30% 2025 2.56% -0.45% -4.12% 1.03% 8.94% 12.04% ...
Donny DBM/iStock via Getty Images Performance During the first quarter of 2026 Night Watch Investment Management LP appreciated by 2.69% net of fees. Night Watch Investment Partners LP – Net Performance (in USD) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year 2024 -0.82% 0.58% 7.09% -0.24% 5.14% -5.20% 9.11% -0.23% -1.34% -2.40% 2.10% -2.92% 10.30% 2025 2.56% -0.45% -4.12% 1.03% 8.94% 12.04% 0.14% 3.06% 1.04% -4.46% 2.90% -0.12% 23.61% 2026 6.44% 3.74% -6.99% 2.69% Since Inception, Total: 40.03% Since Inception, CAGR: 16.14% Click to enlarge The first quarter of 2026 was more volatile than we were used to. In a market that is increasingly narrative driven, as opposed to earnings driven, the focus in January and February was on companies that were at risk of being disrupted by AI. Fortunately, we don’t own a lot of those, and we benefited as the market sought shelter in physical, if-you-drop-it-on-your-foot-it-hurts kind of businesses. Of course this was followed by the war in Iran in March. The impact of higher oil prices then caused a correction in many of those physical businesses, meaning we gave back a significant amount of our YTD gains. Like April of last year, when the market experienced elevated volatility following liberation day, we are cognizant that we have no edge in predicting Trump’s next tweet and timing the market seems like a lost cause. Instead, our edge is in finding individual businesses where earnings are about to inflect higher. By understanding the main drivers of most of our companies, and by having an extensive watchlist of companies that we've known for years and where we have quick access to management if we need it, we can pivot our portfolio quickly if the environment changes. Position Highlights We booked very strong performance on our position in Brookdale ( BKD ), an operator of senior living facilities. We have previously spoken about a looming shortage in senior living facilities. As the first baby boomers are turning 80-years...