The Bank of England plans to discuss the impact of Anthropic PBC ’s new AI model with financial institutions, as UK regulators join their peers in the US and elsewhere in raising alarms over the risks posed by the tool. Anthropic’s Mythos model will be on the agenda for the BOE’s next Cross Market Operational Resilience Group and CMORG AI Taskforce meetings, scheduled within the next two weeks, ac...
The Bank of England plans to discuss the impact of Anthropic PBC ’s new AI model with financial institutions, as UK regulators join their peers in the US and elsewhere in raising alarms over the risks posed by the tool. Anthropic’s Mythos model will be on the agenda for the BOE’s next Cross Market Operational Resilience Group and CMORG AI Taskforce meetings, scheduled within the next two weeks, according to a person with knowledge of the matter. The meetings, earlier reported by the Telegraph, will include representatives from the Treasury, the Financial Conduct Authority and the National Cyber Security Centre. Wall Street banks have started testing Mythos internally after the Trump administration this week warned executives they should take the model seriously and deploy its capabilities to detect vulnerabilities. The Bank of Canada on Friday also met with banks and financial firms to discuss the cybersecurity risks posed by Mythos. The meetings reflect growing concern among regulators that a new breed of cyberattacks is one of the biggest risks facing the financial industry. Read more: Bessent Urgently Summons Bank CEOs Over Anthropic’s New AI Anthropic’s Mythos is a sophisticated new model capable of identifying and exploiting vulnerabilities in every major operating system and web browser, the company has said.
bymuratdeniz/iStock via Getty Images I have been watching Bath & Body Works, Inc. ( BBWI ) for a good entry point for years. All the while, the stock valuation has continued to get cheaper and cheaper. Well, over the last month it appears the stock may be getting close to a bottom. In fact, the November spike low of $14.28 may provide support for price going forward. If this proves true, buying ar...
bymuratdeniz/iStock via Getty Images I have been watching Bath & Body Works, Inc. ( BBWI ) for a good entry point for years. All the while, the stock valuation has continued to get cheaper and cheaper. Well, over the last month it appears the stock may be getting close to a bottom. In fact, the November spike low of $14.28 may provide support for price going forward. If this proves true, buying around the current quote of $18 and lower may be a smart play. StockCharts.com - Bath & Body Works, 18 Months of Daily Price & Volume Changes A month ago, management came out with lackluster guidance, but the stock quote may already be discounting the expected slowdown in calendar year 2026. The fact that new lows did not appear on weaker guidance could be telegraphing a turnaround is approaching. Bath & Body Works - Q4 2025 (FY 2026) Earnings Presentation Another plus for BBWI owners is the company reshored almost all production to Ohio from China in 2023 . While ingredients and raw commodities for manufacturing its items are exposed to changing tariffs from President Trump, the company has become increasingly competitive on cost vs. other soap, lotion, and scent-focused producers. Why is BBWI one of the least expensive retailers in America for an upfront valuation? It has to do with an excessive level of IOUs and repayment requirements, to the tune of $4 billion in financial debt and lease obligations, net of cash. The good news is less than $300 million in debt with an interest expense component is due during 2026-27. This compares to my estimate of repeatable free cash flow of around $600-700 annually as a run rate. Excluding close to $900 million in store leases into the future, below is the latest 10-K schedule of debt, with reasonable interest rates and maturities listed. During calendar year 2025, the company was able to both pay down debt and buy back a material number of shares. Bath & Body Works, Via Seeking Alpha, Jan 2026 10-K Filing As such, the company is not f...
Over the last century, no other asset class has come particularly close to rivaling stocks in annualized returns. While bonds, commodities, and real estate have all increased in value, the Dow Jones Industrial Average (DJINDICES: ^DJI) , S&P 500 (SNPINDEX: ^GSPC) , and Nasdaq Composite (NASDAQINDEX: ^IXIC) have outpaced them all. But just because stocks outperform over extended timelines, it doesn...
Over the last century, no other asset class has come particularly close to rivaling stocks in annualized returns. While bonds, commodities, and real estate have all increased in value, the Dow Jones Industrial Average (DJINDICES: ^DJI) , S&P 500 (SNPINDEX: ^GSPC) , and Nasdaq Composite (NASDAQINDEX: ^IXIC) have outpaced them all. But just because stocks outperform over extended timelines, it doesn't mean they're without periods of heightened volatility and declines. At any given time, several catalysts threaten to pull the rug out from beneath investors. While many of these concerns eventually fade without issue, some turn into bona fide problems for Wall Street. One historical concern, raised last year by Federal Reserve Chair Jerome Powell, foreshadows big-time trouble for stocks . Continue reading
“Troubled businesses don’t turn around on a dime. They took years to get messed up. They got worse through the restructuring when they were capital-starved,” observed Jon F. Weber, founder of Jon F Weber & Co. “A lender should not have the expectation that, upon pouring in liquidity and improving the capital structure, they’re going to immediately improve. We’re in the reality business... We have ...
“Troubled businesses don’t turn around on a dime. They took years to get messed up. They got worse through the restructuring when they were capital-starved,” observed Jon F. Weber, founder of Jon F Weber & Co. “A lender should not have the expectation that, upon pouring in liquidity and improving the capital structure, they’re going to immediately improve. We’re in the reality business... We have to establish what can be realistically achieved with a 70%-80% probability and align awards, bud
'Big Short' investor Michael Burry just sent an AI stock down 9% in a day — and his warning is a reminder that betting on one winner is a risky game moneywise.com
'Big Short' investor Michael Burry just sent an AI stock down 9% in a day — and his warning is a reminder that betting on one winner is a risky game moneywise.com
Funtay/iStock via Getty Images The merger between Devon Energy ( DVN ) and Coterra Energy ( CTRA ) will turn two mid-cap exploration and production (E&P) companies into a more diversified new large cap E&P company. The combined company is going to retain the Devon Energy name, and the ticker symbol will remain DVN. From a proven reserves standpoint, the two companies are opposites. As of December ...
Funtay/iStock via Getty Images The merger between Devon Energy ( DVN ) and Coterra Energy ( CTRA ) will turn two mid-cap exploration and production (E&P) companies into a more diversified new large cap E&P company. The combined company is going to retain the Devon Energy name, and the ticker symbol will remain DVN. From a proven reserves standpoint, the two companies are opposites. As of December 31, 2025, the two companies had similar proved reserves on a barrels of oil equivalent basis: DVN 2.4 billion, and CTRA 2.6 billion. If we split this between liquids (oil and natural gas liquids) and natural gas, DVN's split was 69% liquids, and 31% natural gas. For CTRA the split was almost exactly opposite: 32% liquids and 68% natural gas. The merged company will have pro forma combined proved reserves of 4.99 billion barrels of oil equivalent and a split of 49.96% liquids and 50.04% natural gas, a perfect balance if you have no preference between oil and liquids. Devon Coterra Merger proxy statement/prospectus Since I have more of a preference for natural gas, I think this deal is good for Devon and bad for Coterra. In 2025, DVN has production of 307 million barrels of oil equivalent, making its proved reserve to production ratio, or reserve life, 7.9 years. For CTRA, it had 286 million barrels of oil equivalent production in 2025, making its reserve life 9.0 years. The combined entity would have a reserve life of 8.4 years (593 mmBOE / 4,993 mmBOE). So this extends the life for DVN shareholders and shortens it for CTRA's shareholders. But the major factor is more the respective changes in the liquid and gas reserve splits. From a production standpoint, at 2026 estimated levels, the new company would become the second largest E&P, after ConocoPhillips. Devon & Coterra presentation The bigger share of natural gas production in 2026 should protect Devon from expected declining oil prices this year. West Texas Intermediate futures markets are in quite heavy backwardation, a...
Sometimes things change for the better, and sometimes they change for the worse. With some changes, it can be hard to tell if they're good or bad. Here's a look at a proposed change for Medicare -- one that I think is very problematic. The proposal comes from the Trump administration, and it's also present in the conservative Project 2025 policy roadmap. It suggests that when people become eligibl...
Sometimes things change for the better, and sometimes they change for the worse. With some changes, it can be hard to tell if they're good or bad. Here's a look at a proposed change for Medicare -- one that I think is very problematic. The proposal comes from the Trump administration, and it's also present in the conservative Project 2025 policy roadmap. It suggests that when people become eligible to enroll in Medicare, they would be automatically enrolled in a Medicare Advantage plan . Image source: Getty Images. Continue reading
Key PointsSeventy-six percent of those surveyed by AARP didn't realize that waiting until age 70 to claim Social Security will maximize their benefits.
Key PointsSeventy-six percent of those surveyed by AARP didn't realize that waiting until age 70 to claim Social Security will maximize their benefits.
RiverNorthPhotography/iStock Unreleased via Getty Images Introduction Tyson Foods ( TSN ) went through a major investment cycle over the past years, aiming at becoming more than just a commodity company, which can prove to be a smart move, especially after we saw the recent volatility in poultry and beef. TSN is a buy, as the company’s financials keep improving significantly while they stand to be...
RiverNorthPhotography/iStock Unreleased via Getty Images Introduction Tyson Foods ( TSN ) went through a major investment cycle over the past years, aiming at becoming more than just a commodity company, which can prove to be a smart move, especially after we saw the recent volatility in poultry and beef. TSN is a buy, as the company’s financials keep improving significantly while they stand to benefit from this internal move combined with a recovery in beef margins and the broader consumer/economic environment. The Foundation Is Improving Tyson Foods IR TSN reported a solid quarter, navigating the ongoing macro pressure, including beef (which is expected to have a negative income in FY26) and the generally weak consumer environment. Tyson Foods IR Following a major post-pandemic investment cycle expanding their pivot towards higher value-added products like pre-cooked foods/snacks, Tyson Foods’ CAPEX has normalized, with the free cash flow reaching $1.18 billion in FY25, $1.46 billion in FY24, and -$187 million in FY23, expecting a strong FCF between $1.1 billion and $1.7 billion and $700 million to $1 billion in CAPEX in FY26, with 2% to 4% growth in sales, with a further drop in net interest expenses expected, to $370 million. This comes as the company continues reducing their leverage, with a massive reduction to ~2.0x in Q1’FY26 compared to Q1’FY24, highlighting their disciplined approach in this environment while also returning solid amounts of money back to shareholders. Tyson Foods IR Financially, based on TSN’s latest report , we see a strong position overall, with the current assets covering their current liabilities well and a manageable amount of debt. Debt has been reduced YoY, recently pricing a new $500 million senior notes offering due in 2036 at a coupon of only 4.95%, which is not terrible in this environment, although this comes as a means to refinance part of their $800 million 4% notes due in March 2026. Since the significant hit seen in 2023 du...