May NY world sugar #11 (SBK26) today is up +0.42 (+3.06%), and May London ICE white sugar #5 (SWK26) is up +9.30 (+2.29%). Sugar prices are sharply higher today amid soaring crude oil prices. WTI crude oil (CLJ26) surged more than +11% today to a 2.25-year high, which benefits ethanol prices and could prompt the world's sugar mills to divert more cane crushing toward ethanol production rather than...
May NY world sugar #11 (SBK26) today is up +0.42 (+3.06%), and May London ICE white sugar #5 (SWK26) is up +9.30 (+2.29%). Sugar prices are sharply higher today amid soaring crude oil prices. WTI crude oil (CLJ26) surged more than +11% today to a 2.25-year high, which benefits ethanol prices and could prompt the world's sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies. Don’t Miss a Day: On February 12, sugar prices plunged to 5.25-year nearest-futures lows on concern that a global sugar surplus will persist. On February 11, analysts from sugar trader Czarnikow said they expect a global sugar surplus of 3.4 MMT in the 2026/27 crop year, following an 8.3 MMT surplus in 2025/26. Also, Green Pool Commodity Specialists said on January 29 that they expect a 2.74 MMT global sugar surplus for 2025/26 and a 156,000 MT surplus for 2026/27. Meanwhile, StoneX said February 13 that it expects a global sugar surplus of 2.9 MMT in 2025/26. Last Friday, the International Sugar Organization (ISO) forecast a +1.22 MMT (million metric ton) sugar surplus in 2025-26, below an earlier projection of +1.63 AMMT. That follows a -3.46 MMT deficit in 2024-25. ISO said the surplus is being driven by increased sugar production in India, Thailand, and Pakistan. ISO is forecasting a +3.0% y/y rise in global sugar production to 181.3 million MMT in 2025-26. Signs of lower sugar output in Brazil are supportive of sugar prices, after Unica on February 18 reported that sugar production in Brazil's Center-South in the second half of January fell by -36% y/y to only 5,000 MT. However, cumulative 2025-26 Center-South sugar output through January is up by +0.9% y/y to 40.24 MMT. Also, the ratio of cane crushed for sugar rose to 50.74% in 2025/26 from 48.14% in 2024/25. Consulting firm Safras & Mercado said on December 23 that Brazil's sugar production in 2026/27 will fall by -3.91% to 41.8 MMT from 43.5 MMT expected in 2025/26. The firm exp...
May ICE NY cocoa (CCK26) today is up +175 (+5.73%), and May ICE London cocoa #7 (CAK26) is up +105 (+4.76%). Cocoa prices rallied sharply today and posted 1.5-week highs. The ongoing war in Iran has sparked short covering in cocoa futures amid concern that the closure of the Strait of Hormuz will boost shipping costs, curb cocoa exports, and limit supplies. The closure of the strait has increased ...
May ICE NY cocoa (CCK26) today is up +175 (+5.73%), and May ICE London cocoa #7 (CAK26) is up +105 (+4.76%). Cocoa prices rallied sharply today and posted 1.5-week highs. The ongoing war in Iran has sparked short covering in cocoa futures amid concern that the closure of the Strait of Hormuz will boost shipping costs, curb cocoa exports, and limit supplies. The closure of the strait has increased global shipping rates, insurance costs, and fuel prices, thereby raising cocoa importers' costs. Don’t Miss a Day: On Monday, May NY cocoa posted a contract low, and nearest-futures London cocoa (H26) fell to a 3-year low after the International Cocoa Organization (ICCO) raised its global 2024/25 cocoa surplus estimate to 75,000 MT from a November forecast of +49,000 MT, the first surplus in four years. The ICCO also forecasts global cocoa production in 2024/25 will climb by +8.4% y/y to 4.7 MMT. Cocoa prices are in the midst of a seven-week-long downtrend, with NY cocoa falling to a 2.75-year low last Friday amid robust global supplies and slack demand. On January 29, StoneX forecasted a global cocoa surplus of 287,000 MT in the 2025/26 season and a 267,000 MT surplus for 2026/27. Also, the International Cocoa Organization (ICCO) reported on January 23 that global cocoa stocks rose +4.2% y/y to 1.1 MMT. International cocoa buyers are reluctant to pay official farm-gate prices in the Ivory Coast and Ghana, which are well above current world prices. The lack of buyers is boosting supplies as ICE cocoa inventories rose to a 6.5-month high of 2,201,701 bags on Wednesday. Last month, Ghana cut the official price it pays its cocoa farmers by nearly 30% for supplies for the 2025/26 growing season, and the Ivory Coast on Wednesday said it would cut cocoa farmer pay by 57% that would kick in for the mid-crop harvest that starts in March. The Ivory Coast and Ghana produce more than half of the world's cocoa. Favorable growing conditions in West Africa are also a negative factor for ...
May arabica coffee (KCK26) today is up +4.05 (+1.40%), and May ICE robusta coffee (RMK26) is up +31 (+0.83%). Coffee prices are climbing today, with arabica posting a 3-week high and robusta posting a 2.5-week high. Global supply concerns are boosting coffee prices as the war in Iran has halted shipping through the Strait of Hormuz, increased global shipping rates, insurance, and fuel costs, which...
May arabica coffee (KCK26) today is up +4.05 (+1.40%), and May ICE robusta coffee (RMK26) is up +31 (+0.83%). Coffee prices are climbing today, with arabica posting a 3-week high and robusta posting a 2.5-week high. Global supply concerns are boosting coffee prices as the war in Iran has halted shipping through the Strait of Hormuz, increased global shipping rates, insurance, and fuel costs, which will raise costs for coffee importers and roasters. Also, coffee prices have positive carryover from Thursday when Brazil's Trade Ministry reported that Brazil's Feb coffee exports fell -17.4% y/y to 142,000 MT. Don’t Miss a Day: Smaller coffee supplies from Colombia, the world's second-largest arabica producer, are supportive of prices, following the National Federation of Coffee Growers' report that January coffee production fell by -34% y/y to 893,000 bags. Beneficial rains in Brazil have improved the outlook for the country's coffee crop, and are a bearish factor for prices. Somar Meteorologia reported Monday that Brazil's largest arabica coffee-growing area, Minas Gerais, received 78 mm of rain during the week ended February 20, or 131% of the historical average. Coffee prices have sold off sharply over the past five weeks, with arabica falling to a 15-month low last Tuesday and robusta tumbling to a 6.75-month low last Monday as signs of a bumper Brazilian coffee crop have improved the global supply outlook. On February 5, Conab, Brazil's crop forecasting agency, said that Brazil's 2026 coffee production will climb by +17.2% y/y to a record 66.2 million bags, with arabica production up +23.2% y/y to 44.1 million bags and robusta production up +6.3% y/y to 22.1 million bags. Meanwhile, last Wednesday, Rabobank said that global coffee production is projected to reach a record 180 million bags in the 2026/27 season, up by about 8 million bags from a year earlier. Soaring coffee exports from Vietnam, the world's largest robusta producer, are bearish for robusta prices. V...
Dramatising Onjali Q Raúf’s refugee tale The Boy at the Back of the Class brought cheers and boos from a young audience – showing they can handle the truth I’d never heard of The Boy at the Back of the Class before I was asked to adapt it in 2023. My son had just turned one when Onjali Q Raúf’s novel came into my life. While I could have recited every Julia Donaldson book in my sleep at the time, ...
Dramatising Onjali Q Raúf’s refugee tale The Boy at the Back of the Class brought cheers and boos from a young audience – showing they can handle the truth I’d never heard of The Boy at the Back of the Class before I was asked to adapt it in 2023. My son had just turned one when Onjali Q Raúf’s novel came into my life. While I could have recited every Julia Donaldson book in my sleep at the time, this would have been a little advanced for his reading age. Since then, I have of course read the book and its impact is extraordinary. It follows a young Syrian boy, Ahmet, who arrives in the UK without his parents. He joins a school and befriends a group of kids who hear that the government is going to “close the gates”. They don’t fully understand what it means other than that Ahmet’s parents, who must be looking for him, won’t be able to get into the country. So they decide, in a beautifully innocent way, to go to the most powerful person they can think of – the queen! – and ask for help to find Ahmet’s parents and keep the gates open. There is a wonderful simplicity to the whole thing. Continue reading...
A small but telling detail from a vast and baffling chain of events. You probably saw the footage of Donald Trump’s declaration of war on Iran two weeks ago, a piece of history played out in real time, a moment where the inevitable violent deaths of thousands of people were in effect announced. In the video Trump is shown propped up at his plinth, using that sing-song intonation he employs to appe...
A small but telling detail from a vast and baffling chain of events. You probably saw the footage of Donald Trump’s declaration of war on Iran two weeks ago, a piece of history played out in real time, a moment where the inevitable violent deaths of thousands of people were in effect announced. In the video Trump is shown propped up at his plinth, using that sing-song intonation he employs to appear cod-statesmanlike, faux-grave, but sounding instead like a semi-sentient robot vacuum cleaner in the seconds before it runs out of battery life. To the great people of Iran. America is backing you. Don’t go outside. It’s very dangerous out there. We will for the foreseeable future be bombing you to freedom. Having bragged about sending servicemen and women to commit acts of war, Trump moves on to encouraging the people of Iran to walk into the path of one of the world’s most viciously militarised states. Guys. This is your big chance. Like the Kurds. Remember the first Gulf war? The great, very brave, very massacred Kurdish people. So do it now. Go out and overthrow a murderous theocracy with your bare hands. If you’re up for it. This was not a suggestion it would be reasonable or logical to act on. It was a speech to posterity. It was a retrospective justification being laid down, in effect a disclaimer, to the extent Trump should probably have read it in a super-quick voice like the terms and conditions at the end of a gambling advert. Well, we did ask the great people of Iran to self-massacre on our behalf. We put it out there. Throughout this moment of huge global significance, a montage clip for the 21st century, Trump is wearing a cheap-looking white cap with a USA logo on it. It’s a small detail. But it’s still jarring. He looks like a Florida golf pensioner ordering the surf and turf platter at an early bird diner. Presidents don’t generally wear random baseball caps to declare war. The cap is not White House issue or Republican party uniform. But if you follow f...
In Brief In a recent security partnership with Mozilla, Anthropic found 22 separate vulnerabilities in Firefox — 14 of them classified as “high-severity.” Most of the bugs have been fixed in Firefox 148 (the version released this February), although a few fixes will have to wait for the next release. Anthropic’s team used Claude Opus 4.6 over the span of two weeks, starting in the javascript engin...
In Brief In a recent security partnership with Mozilla, Anthropic found 22 separate vulnerabilities in Firefox — 14 of them classified as “high-severity.” Most of the bugs have been fixed in Firefox 148 (the version released this February), although a few fixes will have to wait for the next release. Anthropic’s team used Claude Opus 4.6 over the span of two weeks, starting in the javascript engine and then expanding to other portions of the codebase. According to the post, the team focused on Firefox because “it’s both a complex codebase and one of the most well-tested and secure open-source projects in the world.” Notably, Claude Opus was much better at finding vulnerabilities than writing software to exploit them. The team ended up spending $4,000 in API credits trying to concoct proof-of-concept exploits, but only succeeded in two cases. Still, it’s a reminder of how powerful AI tools can be for open-source projects — even if they bring a flood of bad merge requests alongside the useful ones.
With record fundraising after the 2008 financial crisis, direct-lending vehicles have loosened their underwriting standards and are due for a stress test, according to a Pacific Investment Management Co . analysis of private-credit risks. “Like every mature segment of leveraged finance, direct lending should eventually face a full‑blown default cycle – one that would test its resilience to both se...
With record fundraising after the 2008 financial crisis, direct-lending vehicles have loosened their underwriting standards and are due for a stress test, according to a Pacific Investment Management Co . analysis of private-credit risks. “Like every mature segment of leveraged finance, direct lending should eventually face a full‑blown default cycle – one that would test its resilience to both sector‑specific and macroeconomic shocks,” analysts Lotfi Karoui and Gabriel Cazaubieilh said in a note to clients Friday. Concerns over private credit have intensified in recent months after high-profile corporate blowups raised concerns about defaults, and amid fears that direct-lending funds are too exposed to the software firms that stand to be disrupted by artificial intelligence. The unease has most recently surfaced among investors in business development companies, closed-end private debt vehicles aimed at retail clients. As a wave of skittish BDC backers asked for their money, alternative investment firms such as BlackRock Inc. and Blue Owl Capital Inc. have curbed redemptions. These investors are learning that they can’t always get their money back from so-called semi-liquid funds that offer quarterly withdrawals but can curb redemptions if they reach a certain limit. “While the risk of a true ‘bank-run’ dynamic in these vehicles is generally low, given explicit contractual limits on redemptions and the ability of managers to gate flows, semi-liquid does not mean fully liquid,” they wrote. “Investors must still assess their own liquidity needs and tolerance for constrained access to capital.” Heavy exposure to software in direct-lending portfolios will likely constrain performance relative to public stocks and other parts of private credit, they said. Moreover, direct-lending funds haven’t been compensating investors for locking up their money for longer, according to the Pimco analysts. Early Critic Pimco was one of the early critics of private credit, which has ba...
On September 26, 2022, NASA’s Double Asteroid Redirection Test (DART) spacecraft crashed into a binary asteroid system . By intentionally ramming a probe into the 160-meter-wide moonlet named Dimorphos, the smaller of the two asteroids, humanity demonstrated that the kinetic impact method of planetary defense actually works. The immediate result was that Dimorphos’ orbital period around Didymos, i...
On September 26, 2022, NASA’s Double Asteroid Redirection Test (DART) spacecraft crashed into a binary asteroid system . By intentionally ramming a probe into the 160-meter-wide moonlet named Dimorphos, the smaller of the two asteroids, humanity demonstrated that the kinetic impact method of planetary defense actually works. The immediate result was that Dimorphos’ orbital period around Didymos, its larger parent body, was slashed by 33 minutes . Of course, altering a moonlet’s local orbit doesn’t seem like enough to safeguard Earth from civilization-ending impacts. But now, as long-term observational data has come in, it seems we accomplished more than that. DART actually changed the trajectory of the entire Didymos binary system, altering its orbit around the Sun. Tracking space rocks Measuring the orbital shift of a 780-meter-wide primary asteroid and its moonlet from millions of miles away isn’t trivial. When DART slammed into Dimorphos, it didn't knock the binary system wildly off its trajectory around the Sun. The change in the system's heliocentric trajectory was expected to be small, a minuscule nudge that would become apparent only after months or years of continuous observation. By analyzing enough painstakingly gathered data, a global team of researchers led by Rahil Makadia at the University of Illinois Urbana-Champaign has now determined the consequences of the DART impact. Read full article Comments
South Korea’s top power equipment maker, HD Hyundai Electric Co. , is accelerating its US expansion, betting that demand for transformers and switchgear will surge as the artificial intelligence “supercycle” drives a new wave of power consumption. The company cites a convergence of drivers — AI and data centers, a revival in US manufacturing, aging grid infrastructure and the shift to renewables —...
South Korea’s top power equipment maker, HD Hyundai Electric Co. , is accelerating its US expansion, betting that demand for transformers and switchgear will surge as the artificial intelligence “supercycle” drives a new wave of power consumption. The company cites a convergence of drivers — AI and data centers, a revival in US manufacturing, aging grid infrastructure and the shift to renewables — that is spurring large-scale grid investment. Those trends are pushing HD Hyundai to deepen its American footprint in what it sees as a prolonged industry upcycle. “We believe this supercycle will last much longer than expected,” Kang Sungsoo, president of HD Hyundai Electric America, told Bloomberg News in an interview. HD Hyundai holds an estimated 15% to 20% share of the US high-voltage transformer market and operates the country’s largest ultra-high-voltage transformer plant in Alabama. It is in talks with five or six of the world’s top “Big Tech” firms, with some supply agreements already signed and initial shipments set to begin as esoon as later this year. “Some of them have tripled their volume requirements compared to 2024 to support new data centers and on-site power generation,” Kang said without naming the companies. To meet rising orders, the company broke ground Friday on a second plant at its 130,000-square-meter (32-acre) Alabama site. The $200 million project, due for completion in April 2027, is expected to lift annual production capacity by 50% and increase annual revenue by about 200 billion won ($136 million), equivalent to roughly 5% of last year’s sales. “The additional capacity from the new plant is already sold out for years, so we’re not concerned about what some call an AI bubble,” Kang said ahead of the groundbreaking ceremony. Read More: US Grid Expansion Drive Hinges on Imported Transformers: BNEF Kang dismissed concerns that AI-related power demand may be nearing a peak, saying current growth is still largely driven by reshoring, grid upgrade...
After a wobbly week, Wall Street turned away from risky investments again on Friday. The sell-off that started earlier in the week hit the accelerator right out of the opening gate. It also bounced back mid-morning, just like it did on Tuesday. By lunchtime ET, the three leading indexes were down by approximately 1%: ^SPX data by YCharts This time, the Nasdaq Composite (^IXIC 1.09%) index showed a...
After a wobbly week, Wall Street turned away from risky investments again on Friday. The sell-off that started earlier in the week hit the accelerator right out of the opening gate. It also bounced back mid-morning, just like it did on Tuesday. By lunchtime ET, the three leading indexes were down by approximately 1%: ^SPX data by YCharts This time, the Nasdaq Composite (^IXIC 1.09%) index showed a smaller loss than the Dow Jones Industrial Average (^DJI 1.19%) and the S&P 500 (^GSPC 1.14%). That's unusual, since the tech-heavy Nasdaq index tends to be more volatile than the broad-based S&P 500 or the handpicked group of 30 elite stocks in the Dow. Then again, Friday's moves didn't center on Silicon Valley. Instead, investors focused on the war in Iran as strikes were met by counter-strikes. At this point, the conflict seems likely to continue for weeks or even months. Shipping lanes for Middle Eastern oil are blocked, with global impacts on all financial systems and many different industries. Today, the largest losses were seen in financial stocks and basic materials producers. Oil, anxieties, and the Strait of Hormuz This week offered a crash course in how fast geopolitical trouble can rattle Wall Street. Tensions in the Middle East reached a breaking point at the Strait of Hormuz. Oil and LNG tankers abruptly stopped transiting through that critical chokepoint. Airlines scrambled to reroute flights. The markets did what markets do when uncertainty spikes; they headed for the exits. Sparks of optimism popped up along the way, mostly fueled by strong earnings reports from economic bellwether companies. But the overall trend was strongly bearish, from the tech sector to the Dow's largely industrial and financial giants: ^SPX data by YCharts Crude oil prices jumped about 35% this week to clear $90 a barrel. That's fine if you've been stockpiling barrels in your garage, but not so great for everyone else. Pretty much everyone and everything depends on energy in some wa...
Key Points Escalating conflict in Iran has blocked shipping lanes at the Strait of Hormuz, sending crude oil prices up about 35% for the week. Financial stocks and basic materials producers took the biggest hits on Friday as investors priced in ongoing disruptions to global trade. The Dow's industrial-heavy roster made it especially vulnerable to energy and shipping disruptions. 10 stocks we like ...
Key Points Escalating conflict in Iran has blocked shipping lanes at the Strait of Hormuz, sending crude oil prices up about 35% for the week. Financial stocks and basic materials producers took the biggest hits on Friday as investors priced in ongoing disruptions to global trade. The Dow's industrial-heavy roster made it especially vulnerable to energy and shipping disruptions. 10 stocks we like better than Dow Jones Industrial Average › After a wobbly week, Wall Street turned away from risky investments again on Friday. The sell-off that started earlier in the week hit the accelerator right out of the opening gate. It also bounced back mid-morning, just like it did on Tuesday. By lunchtime ET, the three leading indexes were down by approximately 1%: Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » ^SPX data by YCharts This time, the Nasdaq Composite (NASDAQINDEX: ^IXIC) index showed a smaller loss than the Dow Jones Industrial Average (DJINDICES: ^DJI) and the S&P 500 (SNPINDEX: ^GSPC). That's unusual, since the tech-heavy Nasdaq index tends to be more volatile than the broad-based S&P 500 or the handpicked group of 30 elite stocks in the Dow. Then again, Friday's moves didn't center on Silicon Valley. Instead, investors focused on the war in Iran as strikes were met by counter-strikes. At this point, the conflict seems likely to continue for weeks or even months. Shipping lanes for Middle Eastern oil are blocked, with global impacts on all financial systems and many different industries. Today, the largest losses were seen in financial stocks and basic materials producers. Oil, anxieties, and the Strait of Hormuz This week offered a crash course in how fast geopolitical trouble can rattle Wall Street. Tensions in the Middle East reached a breaking point at the Strait of Hormuz. Oil and LNG tanke...
Ensign Energy Services press release ( ESVIF ): FY GAAP EPS of -C$0.21. Revenue for 2025 was C$1,638.9 million, a three percent decrease from 2024 revenue of C$1,684.2 million. More on Ensign Energy Services Inc. Seeking Alpha’s Quant Rating on Ensign Energy Services Inc. Historical earnings data for Ensign Energy Services Inc. Financial information for Ensign Energy Services Inc.
Ensign Energy Services press release ( ESVIF ): FY GAAP EPS of -C$0.21. Revenue for 2025 was C$1,638.9 million, a three percent decrease from 2024 revenue of C$1,684.2 million. More on Ensign Energy Services Inc. Seeking Alpha’s Quant Rating on Ensign Energy Services Inc. Historical earnings data for Ensign Energy Services Inc. Financial information for Ensign Energy Services Inc.
Those favoured by teens are also known as fatbikes due to the thick tyres meant for tackling sand and off-road terrain, and are often illegally modified to allow them to travel at far greater speeds than the 25km/h limit for e-bikes.
Those favoured by teens are also known as fatbikes due to the thick tyres meant for tackling sand and off-road terrain, and are often illegally modified to allow them to travel at far greater speeds than the 25km/h limit for e-bikes.
For investors who have followed Tesla over the years, the idea of another major rally is not far-fetched. The stock has already delivered multiple jaw dropping runs, rewarding those who held through volatility and ignored the noise. Still, imagining Tesla doubling again from recent levels raises an important question: What would that actually mean in dollars and cents for the average investor? Lea...
For investors who have followed Tesla over the years, the idea of another major rally is not far-fetched. The stock has already delivered multiple jaw dropping runs, rewarding those who held through volatility and ignored the noise. Still, imagining Tesla doubling again from recent levels raises an important question: What would that actually mean in dollars and cents for the average investor? Learn More: Investor Who Made $20 Million on Nvidia Stock Reveals the Next Big Opportunity Read Next: 4 Safe Accounts Proven To Grow Your Money Up To 13x Faster To keep the math clean and realistic, let’s base this scenario on Tesla trading around $450 per share at the end of 2025. A true doubling from there would put the stock at roughly $900. Why a Move From $450 to $900 Is a Big Deal A jump from $450 to $900 would not just be another good year for Tesla shareholders. It would represent one of the most significant value creations in the market, adding over $1.40 trillion to Tesla’s already-insane market capitalization. At this size, a doubling would likely require more than just positive news or an Elon social media post. Investors would need to see clear progress in profitability, durable demand for electric vehicles and meaningful contributions from newer business lines like energy storage, software or automation. In other words, this would be a vote of confidence that Tesla can grow into its ambitions. Find Out: Self-Made Millionaires Suggest 5 Stocks You Should Never Sell What a Doubling Looks Like for Different Investors The beauty of a clean doubling is its simplicity. Whatever you have invested, your gain equals your starting investment, before taxes. The real difference comes down to how many shares you own. Consider an investor with five shares of Tesla at $450 each. That position is worth $2,250. If the stock reaches $900, the value climbs to $4,500. The gain is $2,250. Now look at 10 shares. At $450 per share, the investment totals $4,500. A move to $900 turns tha...
J Studios/DigitalVision via Getty Images IMOM Strategy Alpha Architect Intl Quantitative Momentum ETF ( IMOM ) is an actively managed fund launched on 12/22/2015, with an objective of long-term capital appreciation. IMOM has a portfolio of 50 stocks, a 30-day SEC yield of 1.44%, and an expense ratio of 0.38%. Distributions are paid annually. The fund is managed by Dr. Wesley Gray and Dr. Jack Voge...
J Studios/DigitalVision via Getty Images IMOM Strategy Alpha Architect Intl Quantitative Momentum ETF ( IMOM ) is an actively managed fund launched on 12/22/2015, with an objective of long-term capital appreciation. IMOM has a portfolio of 50 stocks, a 30-day SEC yield of 1.44%, and an expense ratio of 0.38%. Distributions are paid annually. The fund is managed by Dr. Wesley Gray and Dr. Jack Vogel, authors of the book Quantitative Momentum (Wiley). As described in the prospectus by Alpha Architect , the methodology starts from the largest 1,500 stocks by market capitalization listed in countries included in the MSCI EAFE Index, then reduces the investing universe to the 500 with the highest total returns over the past 12 months, excluding the most recent month. A quantitative, rules-based process identifies highly liquid stocks with the most consistent positive returns during the trailing 12 months. Finally, the top 50 to 200 momentum stocks are included as constituents. The portfolio turnover is high: 411% in the most recent fiscal year. This article will use as a benchmark the MSCI EAFE Index, represented by iShares MSCI EAFE ETF ( EFA ). Portfolio IMOM has 64% of asset value in large- and mega-cap companies and 36% in mid-caps. The portfolio has a focus on Japan (34.9%) and notable exposure in Germany (17.6%). No other country weighs more than 10%. Compared to the benchmark, IMOM mostly overweights Japan, Germany, and Israel, while it greatly downplays the U.K., France, and Switzerland. IMOM top 8 countries in % of asset value (Chart: author; data: Fidelity, iShares) The fund is concentrated in three sectors: industrials (32%), financials (21.2%), and materials (20.1%). Other sectors are below 6%. The sector breakdown is not typical of the strategy; it may change with sector relative momentum. Sector breakdown in % of asset value (Chart: author; data: Fidelity, iShares) The portfolio is diversified, with low company-specific risk. The top 10 holdings, listed in ...
NuScale Power (SMR 3.82%) and Oklo (OKLO 2.97%) are both trying to shake up the nuclear energy market with smaller and more scalable reactors. Last July, I compared these two stocks and claimed NuScale was a better buy because it was generating more revenue and its stock looked more reasonably valued relative to its growth potential. But since then, NuScale's stock has plunged nearly 80%, while Ok...
NuScale Power (SMR 3.82%) and Oklo (OKLO 2.97%) are both trying to shake up the nuclear energy market with smaller and more scalable reactors. Last July, I compared these two stocks and claimed NuScale was a better buy because it was generating more revenue and its stock looked more reasonably valued relative to its growth potential. But since then, NuScale's stock has plunged nearly 80%, while Oklo's has only declined 20%. Let's see why that happened -- and if my previous thesis for NuScale still holds up. How will NuScale and Oklo disrupt the nuclear market? NuScale produces small modular reactors (SMRs), which can fit in vessels that are only 65 feet high and nine feet wide. They're prefabricated, modular, and assembled on site, reducing the time and costs required to build a working nuclear power plant. It's the only SMR maker that holds Standard Design Approvals (SDAs) from the U.S. Nuclear Regulatory Commission (NRC). The NRC approved NuScale's 77 MWe SMR design, which is being used to construct a 462 MWe plant for Romania's RoPower, last year. It also recently agreed to deploy up to six gigawatts of SMR capacity across seven states for the Tennessee Valley Authority (TVA). Expand NYSE : SMR NuScale Power Today's Change ( -3.82 %) $ -0.47 Current Price $ 11.71 Key Data Points Market Cap $3.9B Day's Range $ 11.62 - $ 12.23 52wk Range $ 11.08 - $ 57.42 Volume 807K Avg Vol 26M Gross Margin 33.84 % Oklo produces microreactors, which are even smaller than NuScale's SMRs. Its Aurora microreactor generates only 1.5 MWe on its own, but it can be chained into larger reactors to deliver 15 to 100 MWe per deployment. That flexibility makes them ideal for remote and off-grid deployments that can't occupy as much space as a conventional nuclear power plant. Oklo's microreactors also use metallic uranium fuel pellets -- which are denser, more thermal resistant, and cheaper to fabricate than the uranium dioxide fuel pellets used in NuScale's SMRs and conventional reactors. O...
Key Points NuScale’s upcoming plants in Romania and the U.S. could significantly boost its sales. Oklo’s tiny reactors will support the construction of smaller nuclear power plants. 10 stocks we like better than NuScale Power › NuScale Power (NYSE: SMR) and Oklo (NYSE: OKLO) are both trying to shake up the nuclear energy market with smaller and more scalable reactors. Last July, I compared these t...
Key Points NuScale’s upcoming plants in Romania and the U.S. could significantly boost its sales. Oklo’s tiny reactors will support the construction of smaller nuclear power plants. 10 stocks we like better than NuScale Power › NuScale Power (NYSE: SMR) and Oklo (NYSE: OKLO) are both trying to shake up the nuclear energy market with smaller and more scalable reactors. Last July, I compared these two stocks and claimed NuScale was a better buy because it was generating more revenue and its stock looked more reasonably valued relative to its growth potential. But since then, NuScale's stock has plunged nearly 80%, while Oklo's has only declined 20%. Let's see why that happened -- and if my previous thesis for NuScale still holds up. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » How will NuScale and Oklo disrupt the nuclear market? NuScale produces small modular reactors (SMRs), which can fit in vessels that are only 65 feet high and nine feet wide. They're prefabricated, modular, and assembled on site, reducing the time and costs required to build a working nuclear power plant. It's the only SMR maker that holds Standard Design Approvals (SDAs) from the U.S. Nuclear Regulatory Commission (NRC). The NRC approved NuScale's 77 MWe SMR design, which is being used to construct a 462 MWe plant for Romania's RoPower, last year. It also recently agreed to deploy up to six gigawatts of SMR capacity across seven states for the Tennessee Valley Authority (TVA). Oklo produces microreactors, which are even smaller than NuScale's SMRs. Its Aurora microreactor generates only 1.5 MWe on its own, but it can be chained into larger reactors to deliver 15 to 100 MWe per deployment. That flexibility makes them ideal for remote and off-grid deployments that can't occupy as much space as a conventional nuclear power pla...
Key Points Lily Sarafan sold 3,500 directly-held shares on Feb. 25, 2026, for a transaction value of ~$128,000, at a weighted average price around $36.53 per share. This sale represented 13.97% of Ms. Sarafan's direct holdings, reducing direct ownership from 25,054 to 21,554 shares. No indirect holdings or derivative transactions were involved; the entire disposition occurred through direct owners...
Key Points Lily Sarafan sold 3,500 directly-held shares on Feb. 25, 2026, for a transaction value of ~$128,000, at a weighted average price around $36.53 per share. This sale represented 13.97% of Ms. Sarafan's direct holdings, reducing direct ownership from 25,054 to 21,554 shares. No indirect holdings or derivative transactions were involved; the entire disposition occurred through direct ownership. This was Ms. Sarafan's first open-market sale since listing, aligning with the insider's available capacity and not exceeding prior administrative activity. 10 stocks we like better than Instacart › Maplebear (NASDAQ:CART) Director Lily Sarafan reported the sale of 3,500 shares of Common Stock for a total value of approximately $128,000 on Feb. 25, 2026, according to a SEC Form 4 filing. Instacart, a leading online grocery platform, reported this insider sale amid a year marked by shifting stock performance. Transaction summary Metric Value Shares sold (direct) 3,500 Transaction value $128,000 Post-transaction shares (direct) 21,554 Post-transaction value (direct ownership) ~$788K Transaction value based on SEC Form 4 weighted average purchase price ($36.53); post-transaction value based on Feb. 25, 2026 market close ($36.55). Key questions What proportion of Lily Sarafan's holdings did this sale represent, and how does it compare to historical activity? This transaction accounted for 13.97% of Ms. Sarafan's direct holdings, matching the median percentage for sell transactions in the available historical record, which includes one prior open-market sale event since September 2023. This transaction accounted for 13.97% of Ms. Sarafan's direct holdings, matching the median percentage for sell transactions in the available historical record, which includes one prior open-market sale event since September 2023. Were any indirect interests or derivative securities affected by this transaction? No; the entire sale was executed from direct holdings, and Ms. Sarafan reported n...