National Economic Council Director Kevin Hassett discusses the policy points he sees supporting the labor market as the US added 178,000 jobs in March, with the unemployment rate falling to 4.3%. (Source: Bloomberg)
National Economic Council Director Kevin Hassett discusses the policy points he sees supporting the labor market as the US added 178,000 jobs in March, with the unemployment rate falling to 4.3%. (Source: Bloomberg)
Global X - Silver Miners ETF (NYSEMKT:SIL) and SPDR Gold Shares (NYSEMKT:GLD) differ sharply on recent performance, cost, and portfolio exposure. SIL tracks silver mining stocks with higher risk and reward, while GLD offers a lower-cost, highly liquid route to gold bullion prices. SIL and GLD both target precious metals exposure, but they do so in fundamentally different ways. This comparison look...
Global X - Silver Miners ETF (NYSEMKT:SIL) and SPDR Gold Shares (NYSEMKT:GLD) differ sharply on recent performance, cost, and portfolio exposure. SIL tracks silver mining stocks with higher risk and reward, while GLD offers a lower-cost, highly liquid route to gold bullion prices. SIL and GLD both target precious metals exposure, but they do so in fundamentally different ways. This comparison looks at how each fund’s approach impacts cost, performance, risk, and what’s actually inside, to help investors understand which may better suit a given portfolio. Continue reading
Inok/iStock via Getty Images Introduction Back when I first covered Wheaton Precious Metals Corp. ( WPM ), I highlighted their solid but relatively risky exposure to gold and silver, with a leading growth pipeline, strong financials, and a good track record, rating them a Hold since their stock was trading around a fair value for the commodity prices we saw back then. With the stock up as a result...
Inok/iStock via Getty Images Introduction Back when I first covered Wheaton Precious Metals Corp. ( WPM ), I highlighted their solid but relatively risky exposure to gold and silver, with a leading growth pipeline, strong financials, and a good track record, rating them a Hold since their stock was trading around a fair value for the commodity prices we saw back then. With the stock up as a result of their strong performance tied to the jump in gold and silver prices, WPM remains a Hold, trading slightly above what I would consider a fair value (same as before), while the company’s overall quality makes it worth paying attention to despite the geographic exposure and broader macro risks. Foundation Still Shines Wheaton Precious Metals IR WPM’s 2025 was solid overall, with sales nearly doubling from $1.28 billion in 2024 to $2.31 billion in 2025 and net earnings nearly tripling to $1.47 billion, further highlighting the kind of leverage this type of company offers, beating their gold high-end production guidance ( alongside the market’s estimates ) by ~6.74% and ~22.41% for other metals, with silver production near the top of the expectations, for a beat of ~3.23% on a GEO basis. Wheaton Precious Metals IR We can see a significant jump in FCF as a result of the increase in production and especially commodity prices, with significant investments in mineral stream interests - which more than doubled to $1.34 billion - while the dividend was a very sustainable ~$296.37 million last year and recently got increased by ~18%, for a ~0.57% yield. Wheaton Precious Metals IR WPM’s growth pipeline remains one of the main advantages compared to peers, with several investments made in recent history fueling their near-term growth, expected to expand their GEO (gold equivalent ounce) production by ~50% by 2030. They expect to maintain attributable production at ~1.2 million GEOs, while maintaining their majority gold-silver exposure, which also sets them apart from most other peer...
Getty Images By Magdalena Ocampo, Market Strategist Before geopolitics moved to the foreground, AI was the dominant force shaping equity markets. By late last year, however, enthusiasm had begun to fade. Concerns around debt‑funded AI capex, circular investment dynamics among large tech firms, and elevated valuations weighed on sentiment. In February, those worries intensified as rapid AI advances...
Getty Images By Magdalena Ocampo, Market Strategist Before geopolitics moved to the foreground, AI was the dominant force shaping equity markets. By late last year, however, enthusiasm had begun to fade. Concerns around debt‑funded AI capex, circular investment dynamics among large tech firms, and elevated valuations weighed on sentiment. In February, those worries intensified as rapid AI advances threatened to disrupt incumbent digital business models, triggering a sharp sell‑off and raising questions about whether the long-running tech rally had finally peaked. That narrative reversed quickly. As conflict-driven energy shocks unsettled markets in March—hitting cyclicals and international equities particularly hard, especially in Europe and Asia—U.S. technology stocks reasserted themselves as a perceived safe haven. Semiconductors, hardware, and software stocks stabilized and, notably, even outperformed defense stocks. While this relative performance during a geopolitical shock is unusual, it reinforces the view that tech’s earnings resilience and structural growth remain attractive amid rising macro uncertainty. Yet, this renewed appetite risks obscuring important vulnerabilities. Beneath the surface, global technology supply chains—especially semiconductors—are highly exposed to geopolitical disruption, both directly through energy dependence and indirectly through critical inputs. Energy: an underappreciated chokepoint for semiconductors Semiconductor manufacturing is highly energy-intensive and depends on uninterrupted power; even brief outages can destroy wafers and halt production. This creates a significant vulnerability given the geographic concentration of advanced chipmaking. Taiwan’s TSMC and South Korea’s Samsung dominate global supply, with Taiwan alone producing more than 90% of advanced semiconductors. Both economies are heavily reliant on imported energy, leaving this critical supply chain exposed to Middle East tensions. Around 60-70% of crude oil ...
The U.S. job market perked up last month as employers added 178,000 jobs. The unemployment rate dipped to 4.3%, mainly because the number of people seeking work declined. (Image credit: Joe Raedle)
The U.S. job market perked up last month as employers added 178,000 jobs. The unemployment rate dipped to 4.3%, mainly because the number of people seeking work declined. (Image credit: Joe Raedle)
No one has a crystal ball, so pinpointing exactly where any stock will be in a week, a month, a year, or five years is impossible. On the other hand, investors crave clarity, and saying a stock is going to be higher or lower over a given time frame is stating the obvious. It doesn't do much to reduce ambiguity. With those disclaimers out of the way, market participants aren't going out on a limb w...
No one has a crystal ball, so pinpointing exactly where any stock will be in a week, a month, a year, or five years is impossible. On the other hand, investors crave clarity, and saying a stock is going to be higher or lower over a given time frame is stating the obvious. It doesn't do much to reduce ambiguity. With those disclaimers out of the way, market participants aren't going out on a limb when expecting Lockheed Martin (NYSE: LMT) to potentially trade noticeably higher in five years than where it resides as of March 31, which is around $600. That's down from a February flirtation with $700, or $692 to be precise, and that pullback may spell opportunity when it comes to getting involved with Lockheed Martin stock . The dip is one reason to consider this defense stock now. Still, for investors looking to the F-16 manufacturer as a long-term portfolio centerpiece, there's a sturdy fundamental outlook supporting that view. Continue reading
Magellan Asset Management, an investment management company, released the fourth quarter 2025 investor letter for “Magellan Global Fund”. A copy of the letter can be downloaded here. The fund focuses on investing in outstanding companies at attractive prices and, at the same time, leverages a deep understanding of the macroeconomic landscape to manage risk. As […]
Magellan Asset Management, an investment management company, released the fourth quarter 2025 investor letter for “Magellan Global Fund”. A copy of the letter can be downloaded here. The fund focuses on investing in outstanding companies at attractive prices and, at the same time, leverages a deep understanding of the macroeconomic landscape to manage risk. As […]
In recent trading, shares of Erasca Inc (Symbol: ERAS) have crossed above the average analyst 12-month target price of $17.70, changing hands for $17.81/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation
In recent trading, shares of Erasca Inc (Symbol: ERAS) have crossed above the average analyst 12-month target price of $17.70, changing hands for $17.81/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation
In recent trading, shares of Plains All American Pipeline LP (Symbol: PAA) have crossed above the average analyst 12-month target price of $22.12, changing hands for $22.14/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: do
In recent trading, shares of Plains All American Pipeline LP (Symbol: PAA) have crossed above the average analyst 12-month target price of $22.12, changing hands for $22.14/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: do