You certainly know what your retirement income is -- or what it likely will be when that time comes. But how does that number compare to the average? Here's your (rough) answer. The answer to the question requires a handful of clarifications. First, the figure combines Social Security income with income from other sources, like pensions and retirement savings. Second, know that the average is skew...
You certainly know what your retirement income is -- or what it likely will be when that time comes. But how does that number compare to the average? Here's your (rough) answer. The answer to the question requires a handful of clarifications. First, the figure combines Social Security income with income from other sources, like pensions and retirement savings. Second, know that the average is skewed higher by a small handful of very high earners. And third, we'll need to make some minor mathematical assumptions to come up with a meaningful number. And just for better perspective, we're going to add taxes and Medicare costs to the mix. Continue reading
Latest news from the fourth round at Roland Garros Oliynykova: Shnaider must face sanctions | Mail Daniel Salut à tous et bienvenue à Roland-Garros 2026 – huitième jour! Well this has escalated quickly. A jazzer of a première semaine exploded at its back end, and we begin the journey home without a clue what’s going to happen when we get there. Continue reading...
Latest news from the fourth round at Roland Garros Oliynykova: Shnaider must face sanctions | Mail Daniel Salut à tous et bienvenue à Roland-Garros 2026 – huitième jour! Well this has escalated quickly. A jazzer of a première semaine exploded at its back end, and we begin the journey home without a clue what’s going to happen when we get there. Continue reading...
sankai/iStock via Getty Images The following segment was excerpted from Invesco Summit Fund Q1 2026 Commentary. Portfolio positioning At quarter end, the fund's largest overweights were in industrials, energy and communication services. Within industrials and energy, AI related energy demand has continued to drive spending on electrical infrastructure and power generation. Industrials exposure als...
sankai/iStock via Getty Images The following segment was excerpted from Invesco Summit Fund Q1 2026 Commentary. Portfolio positioning At quarter end, the fund's largest overweights were in industrials, energy and communication services. Within industrials and energy, AI related energy demand has continued to drive spending on electrical infrastructure and power generation. Industrials exposure also includes companies that have been benefiting from rising global defense spending. We favor communication services for AI driven monetization potential. The largest underweight was consumer discretionary, reflecting higher inflation from the US/Israel war with Iran and potential AI related employment pressure. The fund is underweight in information technology (IT) due to underweights in Apple ( AAPL ) and Microsoft ( MSFT ) compared to their large weights within the index. The fund is also underweight financials and health care given macroeconomic headwinds and lackluster fundamentals. New Positions Amphenol ( APH ): We introduced another part of the AI supply chain – optics. Modern AI training involves thousands of GPUs (graphics processing units) that must exchange information rapidly and reliably. Compared to copper, optical interconnects provide scale, speed, lower power demand and heat, and greater reliability. Eli Lilly ( LLY ): Management didn't promise but hinted the launch of its oral GLP-1 pill would occur soon (FDA approved it on April 1). We believe this would begin to show in its second quarter financials and we expect exemption from Trump's 100% tariffs on pharmaceuticals since Lilly had already struck a deal with the administration. Williams Cos ( WMB ): The company is historically one of the most critical enablers of natural gas transmission in the US, moving gas from producing regions to high demand consumption hubs. Further, Williams is historically not as affected by commodity price swings because it is more of a toll collector where cash flows depend on...
Indonesia is pushing ahead with plans to centralize exports of key commodities starting June 1, casting a cloud of regulatory uncertainty over natural resource producers. Coal, palm oil and ferro alloy producers are expected to start submitting export-related documents to the newly formed state-owned firm PT Danantara Sumberdaya Indonesia beginning on June 1, said Coordinating Economic Minister Ai...
Indonesia is pushing ahead with plans to centralize exports of key commodities starting June 1, casting a cloud of regulatory uncertainty over natural resource producers. Coal, palm oil and ferro alloy producers are expected to start submitting export-related documents to the newly formed state-owned firm PT Danantara Sumberdaya Indonesia beginning on June 1, said Coordinating Economic Minister Airlangga Hartarto at a press briefing in Jakarta on Sunday. The firm, a unit of sovereign wealth fund Danantara, will take over specific export activities as early as September or latest by Jan. 1, he said. Indonesia’s Finance Minister Purbaya Yudhi Sadewa and Danantara Chief Operations Officer Dony Oskaria were also present at the briefing. The announcement comes as uncertainty hangs over Indonesia’s natural resources sector after the centralization plan was announced earlier this month, although only limited details are available. The announcement rattled markets, and raised concerns about supply disruptions from the world’s top exporter of coal and palm oil. Read more: Prabowo Grabs Control of Indonesia’s Top Commodities Exports Indonesia Plans to Beat Global Trading Giants at Their Own Game Palm Oil Markets Split as Indonesia Export Revamp Confuses Trade Prabowo’s Biggest Crackdown on Tycoons Shocked His Own Officials Dozens of listed natural resource producers have been unable to assess the policy’s impact because details have not been issued, according to stock exchange filings late on Friday. Notable outliers include state-owned nickel miner PT Aneka Tambang , which said most of its sales are domestic, and PT Vale Indonesia , which said none of its products are affected by the policy. Danantara is currently building the newly created company’s governance structure and is in the process of hiring personnel, COO Oskaria said at the briefing. The wealth fund aims to name some of the new firm’s management team next week, he added.
Getty Images Since my last article on Maersk ( AMKBY ), which you can find here, it's been about 6 months, a bit more. Since that time, I've expanded my coverage on the shipping sector quite a bit. I've started writing on specific sub-sectors of companies found therein, such as Bulker providers, Ro-Ro, reefers, and even charter companies, including bareboat charters. I've worked more and studied m...
Getty Images Since my last article on Maersk ( AMKBY ), which you can find here, it's been about 6 months, a bit more. Since that time, I've expanded my coverage on the shipping sector quite a bit. I've started writing on specific sub-sectors of companies found therein, such as Bulker providers, Ro-Ro, reefers, and even charter companies, including bareboat charters. I've worked more and studied more about correlations to various macro end markets and the way they impact the valuations, as well as how the current supply and demand in the global shipping situation. Maersk is obviously quite a bit different from, say, Wallenius Wilhelmsen ASA, or any of the other major players that I've covered more of late. Aside from size and scope, the company works with a different business model. First off, let me say that my neutral rating for Maersk as of the last article was more or less correct. It was correct because the company has not outperformed the market but underperformed it. I tend to view the investments that I make and their successes or failures in the light of how they perform relative to the broader market. This makes the most sense to me. The closer the company is to market performance, the worse my neutral rating, where I made it, was. Seeking Alpha Maersk RoR So, overall, the company has underperformed, but if you look at the longer trends from previous neutral articles , it can certainly be argued that the company is up a bit. I have a position in Maersk's native ticker, though not an especially sizeable one. One of the considerations I will make in this article is whether the company is overvalued or not. But first, let me make sure that I align how I present the company more with the other shipping businesses that I have been covering the past 6 months or so and, in some cases, also been investing in. Maersk - Upside is Quite Limited as of 2H26 In my last article, I upgraded the target, or the company's native ticker, to 12.2k DKK, but I also pointed to be...
Pixelbizz/iStock Editorial via Getty Images It has been more than a year since my article on ASML ( ASML ) (check it here ). I saw the company as a wide-moat compounder, driven by secular trends. But even though I was already optimistic about ASML, I did not expect all of this to happen. If you follow the semiconductor market, you saw that there was a boom in recent weeks. And of course, due to AS...
Pixelbizz/iStock Editorial via Getty Images It has been more than a year since my article on ASML ( ASML ) (check it here ). I saw the company as a wide-moat compounder, driven by secular trends. But even though I was already optimistic about ASML, I did not expect all of this to happen. If you follow the semiconductor market, you saw that there was a boom in recent weeks. And of course, due to ASML's business model, it captures this growth directly, and that needs to be incorporated into our expectations. Therefore, I think this is a good time to redo the calculations and see whether ASML is still a good opportunity. Market Context and The Reason I Like ASML Memory prices went parabolic, and Micron ( MU ) managed to ride this trend well; Advanced Micro Devices ( AMD ) is another highlight in the industry and now has good prospects not only for the ramp-up of its GPUs but also for the CPU business and everything that involves inference. I do not think ASML's total return had to be in line with Micron's and AMD's for several reasons. The business model is very different, ASML is more stable, predictable (although there is significant cyclicality in revenue) and has greater technological barriers while Micron, for example, suffers much more from cyclicality and competition. Therefore, the companies' valuations are and need to be different. Previously Micron was trading at single digit earnings, so the re-rating was significant, and even so, looking only at P/E, Micron is much cheaper than ASML. But in some timeframes, it seems like the market has not yet fully realized the potential of a company like ASML. Over 3 years, Micron's total return was almost 1,300%, and AMD's, TSMC's ( TSM ), and Nvidia's ( NVDA ) were more than 300%. ASML's, even directly capturing this growth, delivered a total return of 127% over the same period. Of course, here we are only looking superficially, looking at price change, total return, and market sentiment. Seeking Alpha However, in a mor...
Key PointsGil Luria at DA Davidson says Alphabet TPUs could eventually capture 20% market share in AI infrastructure, making the custom chips a $900 billion business.
Key PointsGil Luria at DA Davidson says Alphabet TPUs could eventually capture 20% market share in AI infrastructure, making the custom chips a $900 billion business.