Billionaire investor Chase Coleman built Tiger Global into one of the most influential technology-focused hedge funds in the world, earning a reputation for identifying high-growth digital businesses before they become Wall Street favorites. While Tiger Global has historically focused on disruptive technology and internet platforms, the firm’s latest holdings show continued conviction in companies...
Billionaire investor Chase Coleman built Tiger Global into one of the most influential technology-focused hedge funds in the world, earning a reputation for identifying high-growth digital businesses before they become Wall Street favorites. While Tiger Global has historically focused on disruptive technology and internet platforms, the firm’s latest holdings show continued conviction in companies benefiting ... Billionaire Chase Coleman Is Betting Big on These 4 Growth Stocks
Galeanu Mihai/iStock via Getty Images By Phil Mackintosh, Nasdaq Chief Economist Since late 2024, retail traders have become even more active than they were in the years following the pandemic. At the end of last year, our retail data suggests retail trading reached $70 billion a day as markets rotated out of crypto and software stocks and into value stocks. But in the past few weeks, as the confl...
Galeanu Mihai/iStock via Getty Images By Phil Mackintosh, Nasdaq Chief Economist Since late 2024, retail traders have become even more active than they were in the years following the pandemic. At the end of last year, our retail data suggests retail trading reached $70 billion a day as markets rotated out of crypto and software stocks and into value stocks. But in the past few weeks, as the conflict in Iran started, data shows retail trading has fallen significantly. Interestingly, so did the price of gold. Gross trading falls as conflict continues Amid the conflict, exchange-traded fund (ETF) activity has increased, as ETFs are a natural way to play a macro event. However, retail saw reduced ETF activity (yellow line), which fell by around $5 billion per day. Single-stock retail trading tumbled even more - below $35 billion a day. After a ceasefire was put in place on April 8, stock flows rebounded above $40 billion a day. Chart 1: Gross daily retail trading activity in stocks and ETFs over time Notably, retail remained net buyers of ETFs throughout the first quarter of 2026. Overall, retail bought more than $19 billion in ETFs in March and bought over $70 billion in ETFs during the first quarter. However, data shows that retail traders were sellers of single stocks every single day in March. As a result, March saw net selling of over $15 billion - a record for the periods we have data for. Chart 2: Net monthly retail trading activity in stocks and ETFs over time Single-stock sector flows show a change in leadership Looking at single-stock flows by company each month, we see a change in leadership over the years. Initially, Tesla ( TSLA ) was one of the most popular retail stocks, although between 2020 and 2023, Tesla buying and selling tended to follow the direction of the market (buying in up markets, green line, and vice versa). In the past two years, NVIDIA ( NVDA ) has taken over as the most popular and most heavily bought stock. Interestingly, as the conflic...
Nothing about No 10’s version of the Mandelson debacle makes sense as the excuses factory works overtime On days like these you reckon the prime minister would have more chance of being believed if he had said the dog ate his homework. After all, it’s quite possible that Keir Starmer has not yet realised he doesn’t have a dog. His amnesia and lack of curiosity are a piece of performance art. Almos...
Nothing about No 10’s version of the Mandelson debacle makes sense as the excuses factory works overtime On days like these you reckon the prime minister would have more chance of being believed if he had said the dog ate his homework. After all, it’s quite possible that Keir Starmer has not yet realised he doesn’t have a dog. His amnesia and lack of curiosity are a piece of performance art. Almost up there with Boris Johnson. Keir would probably take that as a compliment. As it is we are left with a dilemma. Occam’s razor. Either No 10 thinks we were born yesterday. Or everyone in No 10 was born yesterday. The excuses factory has been working overtime. But most people have already made up their minds . Continue reading...
Earnings Call Insights: Badger Meter (BMI) Q1 2026 Management View "First quarter sales were down 9% year-over-year to $202 million," as "short-cycle order rates... were weaker than we anticipated, resulting in approximately $15 million to $20 million of lower revenue versus our internal expectations" (Chairman, President & CEO Kenneth Bockhorst). "We previously communicated that our 2026 revenues...
Earnings Call Insights: Badger Meter (BMI) Q1 2026 Management View "First quarter sales were down 9% year-over-year to $202 million," as "short-cycle order rates... were weaker than we anticipated, resulting in approximately $15 million to $20 million of lower revenue versus our internal expectations" (Chairman, President & CEO Kenneth Bockhorst). "We previously communicated that our 2026 revenues would be weighted toward the back half of the year" and "our expectations for a solid second half have not changed," while "the softer start up to the year prompts us to anticipate full year 2026 organic revenue to be on balance with 2025" (Chairman, President & CEO Bockhorst). "This project set represents between 2.6 million and 3.6 million connections over multiple years" and "we view the first half of 2026 as a short pause, not a break in our trajectory" (Executive Vice President of North America Municipal Utility Robert Wrocklage). "We've implemented measured cost reduction actions including a 10% salary reduction for our executive officers for the next 6 months to maintain spending discipline and protect margin integrity" (Chairman, President & CEO Bockhorst). "Total sales were $202 million," "gross margin was 41.7%," "operating earnings were approximately $35.2 million and operating margin was 17.4%," and "diluted earnings per share were $0.93" (VP, CFO & Treasurer Daniel Weltzien). Outlook "We continue to expect 2026 activity to be back-half weighted as awarded AMI projects advance into deployment" and "we expect sequential improvement in absolute quarterly revenue dollars as the year progresses" (Chairman, President & CEO Bockhorst). "We expect second quarter 2026 organic revenue dollars to sequentially improve from the trough of Q1" but "expect them to be down year-over-year against the highest quarterly revenue figure in the company's history" (Chairman, President & CEO Bockhorst). Compared with the prior quarter’s framing that "we expect this project pacing dyna...
Federal Reserve Governor Chris Waller said the surge in oil prices tied to the Iran war and lingering effects from U.S. tariffs could “lead to a more lasting increase in inflation,” potentially forcing the central bank to eschew further interest-rate cuts.
Federal Reserve Governor Chris Waller said the surge in oil prices tied to the Iran war and lingering effects from U.S. tariffs could “lead to a more lasting increase in inflation,” potentially forcing the central bank to eschew further interest-rate cuts.
May ICE NY cocoa (CCK26 ) today is down -152 (-4.51%), and May ICE London cocoa #7 (CAK26 ) is down -96 (-3.85%). Cocoa prices are sharply lower today for a second day on signs of weak global demand. The National Confectioners Association reported that North American Q1 cocoa grindings...
May ICE NY cocoa (CCK26 ) today is down -152 (-4.51%), and May ICE London cocoa #7 (CAK26 ) is down -96 (-3.85%). Cocoa prices are sharply lower today for a second day on signs of weak global demand. The National Confectioners Association reported that North American Q1 cocoa grindings...
May arabica coffee (KCK26 ) today is down -6.75 (-2.28%), and May ICE robusta coffee (RMK26 ) is down -87 (-2.50%). Coffee prices are tumbling today, with arabica falling to a 1-week low. Coffee prices fell today after Iran said the Strait of Hormuz is now reopened, which should restore...
May arabica coffee (KCK26 ) today is down -6.75 (-2.28%), and May ICE robusta coffee (RMK26 ) is down -87 (-2.50%). Coffee prices are tumbling today, with arabica falling to a 1-week low. Coffee prices fell today after Iran said the Strait of Hormuz is now reopened, which should restore...
Anna-av/iStock via Getty Images Overview When I previously covered the Cohen & Steers Quality Income Realty Fund ( RQI ), I issued a buy rating due to the fund's alignment to participate in the expansion of AI data center growth. Since then, the fund has provided a double-digit total return that far outpaces the S&P 500. However, the fund has released an updated annual report that provides us with...
Anna-av/iStock via Getty Images Overview When I previously covered the Cohen & Steers Quality Income Realty Fund ( RQI ), I issued a buy rating due to the fund's alignment to participate in the expansion of AI data center growth. Since then, the fund has provided a double-digit total return that far outpaces the S&P 500. However, the fund has released an updated annual report that provides us with transparency into the 2025 earnings, so I wanted to revisit the fund to provide some updated insights into the fund's performance, outlook, and value proposition going forward. I also wanted to highlight the fund's strength for income investors that want to collect income from the real estate sector, without the headache of managing a portfolio of rental properties. When I previously covered RQI, the fund traded at a discount to NAV of 3.84%. Following the little rally over the last few months, RQI now trades at a smaller discount to NAV of 1.06%. Referring to the red line on the graph below, we can see that RQI continues to trade at the higher end of its historical price to NAV range. This makes valuation a bit tricky, especially considering the fact that RQI has traded at an average discount to NAV of 4.09% over the last five years. Despite trading at the higher end of its range, I still believe that RQI is a great buy as its proven to be an efficient buy-and-hold fund for long-term investors. The fund is aligned to participate in the recovery of the real estate sector, while providing superior income generation. CEF Data The fund now offers investors a starting dividend yield of 8.2%, while issuing those payouts on a monthly basis. The latest annual report indicates that the fund may be struggling to generate sufficient earnings. However, the annual report doesn't capture the results of the most recent rally due to the delayed reporting of closed-end funds. Despite the spotty coverage, the fund has an excellent track record of consistent payouts, which is great for inco...
In a podcast posted Wednesday with Dwarkesh Patel, Nvidia Corp CEO Jensen Huang dismissed the idea that AI hardware is becoming a commodity. Huang described Nvidia's core mission as an "incredible journey" of transforming electrons into valuable digital tokens. "The amount of artistry, engineering, science, and invention that goes into making that token valuable… is far from deeply understood," Hu...
In a podcast posted Wednesday with Dwarkesh Patel, Nvidia Corp CEO Jensen Huang dismissed the idea that AI hardware is becoming a commodity. Huang described Nvidia's core mission as an "incredible journey" of transforming electrons into valuable digital tokens. "The amount of artistry, engineering, science, and invention that goes into making that token valuable… is far from deeply understood," Huang stated. He pushed back against the notion that Nvidia is simply a software company using Taiwan
Hi everyone. This week, the people behind a world-famous band are trying to make a world-famous video game, but first... This week’s top gaming news: Microsoft Corp. is preparing to lower the prices of Xbox Game Pass, new Xbox head Asha Sharma hinted in a memo this week The PlayStation 5 had its best week of the year in early April as buyers stocked up ahead of a hefty price increase A Long Shot D...
Hi everyone. This week, the people behind a world-famous band are trying to make a world-famous video game, but first... This week’s top gaming news: Microsoft Corp. is preparing to lower the prices of Xbox Game Pass, new Xbox head Asha Sharma hinted in a memo this week The PlayStation 5 had its best week of the year in early April as buyers stocked up ahead of a hefty price increase A Long Shot Dan Reynolds has already conquered near-impossible odds in pursuit of his dreams. Two decades ago, he started Imagine Dragons, which would go on to become one of the most successful rock bands in the world, touring stadiums and selling more than 75 million albums. Now he’s trying to do the one thing that might be even less plausible: launching a hit video game in the year 2026. Five years ago, Dan and his brother, Mac Reynolds, founded a video-game studio called Night Street Games. This week, they put out their first title: Last Flag , a capture-the-flag shooter game featuring colorful, Fortnite -like aesthetics and a cast of varied heroes. Unfortunately, they’re launching Last Flag into one of the most oversaturated video-game markets in history, where they’ll compete not just with the plethora of new games released every year, but with all of the online shooters that have kept people hooked for decades, from Counter-Strike to Overwatch . Since releasing on Tuesday, Last Flag has peaked at just over 550 concurrent players on Steam. A spokesperson for Night Street wouldn’t comment on whether they considered the sales numbers successful but said the company was happy with the critical reception and that they hope to “build a sustainable community and nurture and grow it over time.” The fear is that they might recreate the trajectory of Highguard , another online shooter that launched into the crowded market earlier this year. It lost its funding and shut down just weeks after it came out . “I hope people will give the game a shot,” Mac Reynolds told me in an interview a few w...
MicroStockHub/iStock via Getty Images By Elior Manier USD/JPY was once again the main target for US dollar bulls amid the ongoing major US-Iran War, which began on February 27 (with a positive twist in the past week and a half). Energy commodity prices have more than doubled since the imposition of ceaseless supply restrictions from Iran's capture of the Strait of Hormuz. WTI and Brent Crude price...
MicroStockHub/iStock via Getty Images By Elior Manier USD/JPY was once again the main target for US dollar bulls amid the ongoing major US-Iran War, which began on February 27 (with a positive twist in the past week and a half). Energy commodity prices have more than doubled since the imposition of ceaseless supply restrictions from Iran's capture of the Strait of Hormuz. WTI and Brent Crude prices have at some point risen by more than 100% and are remaining about 35% higher than they were just at the beginning of February. A significant portion of Asian crude oil imports depends on this region. As a result, prices for both physical crude and refined products have soared. This was seen as a particular strain on the Eastern continent, and the clearest evidence is in the change in jet fuel prices. Jet Fuel Prices Averages in Asia and Europe – Source: IATA. April 17, 2026 For such a populous region, particularly dependent on fossil fuels for electricity production and manufacturing, this has proven quite damaging. Luckily for Japan, it has held the largest proven strategic oil reserves in the world, but this hasn't helped Forex hawks severely punish the JPY against the dominant US dollar. A victim of its own confused monetary policy, with largely expected rate hikes progressively fading out due to slower inflation reports and contradicting policymakers, the Land of the Rising Sun was the target of a large FX repricing. Luckily for the yen, the conflict is now priced to end soon. The Strait of Hormuz was announced reopened this morning , with statements from both the US and Iran, and the Administration pushing for it to move forward with the negotiations. USD/JPY and WTI Correlation. April 17, 2026 – Source: TradingView USD/JPY has now entered a corrective phase, which could extend if the conflict were to end. With a head and shoulders pattern forming, it will be important to see whether this move indeed has legs, pointing to longer-term bearish positioning in the pair....
FIFA Rebukes NJ's Lefty Governor In Transportation Dispute Authored by Luis Cornelio via Headline USA , Leaders behind the 2026 FIFA World Cup rebuked New Jersey Gov. Mikie Sherrill after she launched what appeared to be a social media campaign complaining that the state would be stuck footing the bill for public transportation tied to the event. The 2026 World Cup is set to span multiple days, in...
FIFA Rebukes NJ's Lefty Governor In Transportation Dispute Authored by Luis Cornelio via Headline USA , Leaders behind the 2026 FIFA World Cup rebuked New Jersey Gov. Mikie Sherrill after she launched what appeared to be a social media campaign complaining that the state would be stuck footing the bill for public transportation tied to the event. The 2026 World Cup is set to span multiple days, including eight matches at New Jersey’s MetLife Stadium in June. Estimates suggest the games could generate over $3 billion in economic impact for the region. However, the state is expected to expand public transportation services, as has been typical for previous World Cup host sites. The agreement between FIFA and New Jersey was signed under Sherrill’s predecessor, former Gov. Phil Murphy, a Democrat who left office in January. “We inherited an agreement where FIFA is providing $0 for transportation to the World Cup,” Sherrill wrote on X, adding that New Jersey is expected to cover roughly $48 million in transportation costs . “I’m not going to stick New Jersey commuters with that tab for years to come. FIFA should pay for the rides. But if they don’t – I’m not going to let New Jersey get taken for one,” she added. FIFA pushed back, saying it was “quite surprised” by Sherrill’s remarks, as quoted by several media outlets. “FIFA worked for years with host cities on transportation and mobility plans, including advocating for millions of dollars in federal funding to support host cities for transportation,” the organization said. FIFA also pointed to the lack of precedent for such demands, noting that previous major events at MetLife Stadium did not require organizers to cover fan transportation costs. FIFA have responded to this - and strongly. “We are quite surprised by the NJ Governor’s approach today on fan transportation. The original FIFA World Cup 2026 Host City Agreements signed in 2018 required free transportation for fans to all matches. Recognizing the financial… ht...