KanawatTH/iStock via Getty Images This fund's "margin of safety" philosophy and moderate exposure to technology are appealing in a stretched market powered by tech names. This article updates my review of January in light of current holdings and recent performance. FEGE Fast Facts The First Eagle Global Equity ETF ( FEGE ) was launched on 12/19/2024 with an objective of long-term capital appreciat...
KanawatTH/iStock via Getty Images This fund's "margin of safety" philosophy and moderate exposure to technology are appealing in a stretched market powered by tech names. This article updates my review of January in light of current holdings and recent performance. FEGE Fast Facts The First Eagle Global Equity ETF ( FEGE ) was launched on 12/19/2024 with an objective of long-term capital appreciation through an active strategy. FEGE has a portfolio of 94 stocks, a trailing 12-month yield of 1.17%, and a net expense ratio of 0.50%. Distributions are paid annually. Despite its short history, FEGE is quite a large and liquid ETF, with almost $2 billion in assets under management ("AUM") and an average daily trading volume of $17 million, making it eligible for long-term investment, tactical allocation, and trading as well. First Eagle is an independent asset management firm headquartered in New York with $213 billion in total AUM and a focus on fundamental, bottom-up strategies. Strategy As described by First Eagle Investments , the fund’s strategy emphasizes value and seeks a “margin of safety” in each equity purchase. Margin of safety is based on an intrinsic value calculated from balance sheet and cash flow valuation. The team focuses on persistent businesses that possess scarce assets, sound balance sheets and prudent management teams, and invests in these companies only when they are trading at a discount to our calculation of intrinsic value. A greater discount to intrinsic value is required for companies with specific risks related to the business model, balance sheet, accounting practices, management, regulations, or geopolitics. The fund intends to invest at least 30% of its assets outside the U.S., in particular in emerging markets. Companies of all sizes are eligible. The turnover rate between 12/19/24 and 8/31/25 was 12% (about 18% annualized, which is quite low). I will use as a benchmark the MSCI All Country World Index, represented by the iShares MSCI AC...
Anthropic is joining in on the IPO fray to win tens of billions in capital and likely a valuation in the trillions. This IPO could significantly benefit Amazon (NASDAQ:AMZN), Salesforce (NYSE:CRM), and Alphabet (NASDAQ:GOOG). Before we look into how, let’s take a look at the IPO first. Anthropic’s decision for an IPO comes after SpaceX’s decision to ... 3 Stocks Poised to Make Billions from the An...
Anthropic is joining in on the IPO fray to win tens of billions in capital and likely a valuation in the trillions. This IPO could significantly benefit Amazon (NASDAQ:AMZN), Salesforce (NYSE:CRM), and Alphabet (NASDAQ:GOOG). Before we look into how, let’s take a look at the IPO first. Anthropic’s decision for an IPO comes after SpaceX’s decision to ... 3 Stocks Poised to Make Billions from the Anthropic IPO
In May 2026, telcos, OEMs, and retailers launched 1,094 smartphone promos (up 14% MoM), driven by trade-ins, bundles, and new line discounts. Service plan updates and Motorola device launches fuelled this surge.
In May 2026, telcos, OEMs, and retailers launched 1,094 smartphone promos (up 14% MoM), driven by trade-ins, bundles, and new line discounts. Service plan updates and Motorola device launches fuelled this surge.
Bernstein managing director and senior analyst Stacy Rasgon explains how he views the growing divergence between AI hardware companies, like Broadcom (AVGO) and Nvidia (NVDA), and software names.
Bernstein managing director and senior analyst Stacy Rasgon explains how he views the growing divergence between AI hardware companies, like Broadcom (AVGO) and Nvidia (NVDA), and software names.
Social Security is slated for an above-average cost-of-living adjustment (COLA) in 2027, according to some estimates, which would be good news for seniors struggling with rising inflation. But "above-average" doesn't tell you a lot. Over the past 51 years, the COLA has averaged 3.73%, and people receiving benefits are eager to know how much over that average the next COLA might be. We won't know t...
Social Security is slated for an above-average cost-of-living adjustment (COLA) in 2027, according to some estimates, which would be good news for seniors struggling with rising inflation. But "above-average" doesn't tell you a lot. Over the past 51 years, the COLA has averaged 3.73%, and people receiving benefits are eager to know how much over that average the next COLA might be. We won't know the number until the Social Security Administration officially announces it, which it's expected to do in mid-October. But here's what we can infer about how this COLA will compare with the past 50 years, based on the latest COLA estimates. Image source: Getty Images. Continue reading
Bitcoin ( BTC-USD ) price hovered around the $77k to $80k range in May, with prices further declining in June. The cryptocurrency market has erased more than $2T in value since reaching a record high in October 2025 and is now down 48% from that peak, according to data highlighted by The Kobeissi Letter. CleanSpark ( CLSK ) saw the highest short interest among mid, large, and mega-cap firms at 32....
Bitcoin ( BTC-USD ) price hovered around the $77k to $80k range in May, with prices further declining in June. The cryptocurrency market has erased more than $2T in value since reaching a record high in October 2025 and is now down 48% from that peak, according to data highlighted by The Kobeissi Letter. CleanSpark ( CLSK ) saw the highest short interest among mid, large, and mega-cap firms at 32.76%. Meanwhile, Twenty One Capital ( XXI ) continued to see the lowest interest from short sellers at 1.29%. Here are the five most shorted crypto stocks with market capitalizations of above $2 billion (as a % of shares outstanding) CleanSpark ( CLSK ); Short Interest: 32.76% Bitdeer Technologies ( BTDR ); Short Interest: 27.06% MARA Holdings ( MARA ); Short Interest: 26.05% TeraWulf ( WULF ); Short Interest: 22.25% Riot Platforms ( RIOT ); Short Interest: 17.06% Here are the five least shorted crypto stocks with market capitalizations of above $2 billion (as a % of shares outstanding) Twenty One Capital ( XXI ); Short Interest: 1.29% Block ( XYZ ); Short Interest: 3.92% Trump Media & Technology ( DJT ); Short Interest: 3.99% Bitmine Immersion Technologies ( BMNR ); Short Interest: 4.62% Bullish ( BLSH ); Short Interest: 8.49% More on Crypto MARA Holdings: A $1.5 Billion Acquisition Just Transformed Its Identity CleanSpark: Up Over 100%, But The Fundamentals Keep Getting Uglier TeraWulf: Why I Am Doubling Down At One-Year Highs CleanSpark post-May results: Names new SVP of Finance, BTC holdings rise to 13.47K Bitmine Immersion Technologies to raise money via preferred stock
Land construction in Shenzhen's Longhua district. Photo: IC photo Intense bidding wars for prime residential plots have returned to major Chinese cities, but the selective frenzy masks a deeper contraction in developers’ land purchases. Between April 1 and May 28, at least 12 premium land parcels in cities including Beijing, Shanghai and Hangzhou drew 1,126 rounds of bidding and sold for a combine...
Land construction in Shenzhen's Longhua district. Photo: IC photo Intense bidding wars for prime residential plots have returned to major Chinese cities, but the selective frenzy masks a deeper contraction in developers’ land purchases. Between April 1 and May 28, at least 12 premium land parcels in cities including Beijing, Shanghai and Hangzhou drew 1,126 rounds of bidding and sold for a combined 26.9 billion yuan ($4 billion), with an average premium of 36%, according to data released Thursday by E-House China Research and Development Institution.
Justin Paget/DigitalVision via Getty Images The last few months have been a really difficult time for shareholders of Patrick Industries, Inc. ( PATK ). In early February of this year, I wrote a neutral article about the business. Even though financial performance for the business leading up to that point was impressive, with sales and earnings coming in above expectations, and with management for...
Justin Paget/DigitalVision via Getty Images The last few months have been a really difficult time for shareholders of Patrick Industries, Inc. ( PATK ). In early February of this year, I wrote a neutral article about the business. Even though financial performance for the business leading up to that point was impressive, with sales and earnings coming in above expectations, and with management forecasting further growth this year compared to last year, I remained torn because of how expensive the stock was. I wouldn't say that it was overvalued. But it certainly wasn't undervalued. At the end of the day, citing the valuation of the company, I decided to rate it a ‘hold.’ Since that time, things have gone rather poorly. A decline in revenue has pushed the stock down an astounding 35.3%. This is at a time when the S&P 500 is up 9%. And since I originally rated it a ‘hold’ in October of last year, shares are down 9% while the market is up 8.1%. From a valuation standpoint, the company now looks slightly undervalued. Normally, this would elicit an upgrade from me. However, I am becoming increasingly concerned about the state of the economy. Long term, I have no doubt that the company will do well from an operational standpoint. But as things stand, I think that remaining cautious and sticking with my previous ‘hold’ rating is necessary here. Digging Into Patrick Industries Author - SEC EDGAR Data Since my last article about Patrick Industries, investors have only had data covering one additional operating quarter come out for the company. That would be the first quarter of the 2026 fiscal year. During that time, revenue for the business came in at $997.2 million. This represents a small drop from the $1 billion that the business reported a year earlier. As the image below illustrates, this drop in sales was fueled entirely by two product lines. The first of these was the Recreational Vehicle product line. This part of the company offers equipment to OEMs of recreational...
zepp1969/iStock via Getty Images Introduction In my view, FirstCash Holdings ( FCFS ) is a strong and resistant business, but the current share price is based on too optimistic a growth scenario, in my opinion. FirstCash Holdings holds a dominating position in the alternative financial market, managing more than 3300 pawnshops in the USA, Latin America, and the United Kingdom. The company's busine...
zepp1969/iStock via Getty Images Introduction In my view, FirstCash Holdings ( FCFS ) is a strong and resistant business, but the current share price is based on too optimistic a growth scenario, in my opinion. FirstCash Holdings holds a dominating position in the alternative financial market, managing more than 3300 pawnshops in the USA, Latin America, and the United Kingdom. The company's business model is based on low-value secured loans and confiscated asset retail trading, which ensures resistance to economic fluctuations. In 2026 Q1 , the company reached record-level revenues of $1.05 billion, recording a 26% annual growth. This growth was pushed by the aggressive expansion and a 19% increase in pawnshop receivables in the US market. Net income in this period increased 29%, and GAAP EPS reached $2.43. Despite the operational efficiency, share price valuation remains tense. P/E ratio reaching 27x, which is well above the consumer finance sector's median of 12.2x. P/B ratio also reaching 4x shows a significant premium for the equity. Even though the American First Finance segment adds to revenues through buy now pay later services, the main profitability is generated through pawnshop operations, which make up around 90% of the total net revenue. Latin America, where there are more than 1800 stores, saw revenue in the local currency grow 23%. Successful H&T group integration in the UK market shows that the market has already priced in the optimistic growth scenario. Any revenue growth slowdown or regulatory changes could cause a rapid price drop from the current level. Business overview FirstCash Holdings business model is based on two main revenue streams: pawnshop operations and the American First Finance segment, providing consumer financing. In the Pawnshop segment, the company earns from interests on short-term secured loans and retail goods. The company's current retail trading margin is reaching 41%, which shows a high operational efficiency in realizing c...
SoFi (NASDAQ: SOFI) and Robinhood (NASDAQ: HOOD) are two of the most popular financial technology, or fintech, stocks in the market. Robinhood has been the better performer over the past few years, but with both stocks beaten down, which is the best choice right now? *Stock prices used were the morning prices of June 3, 2026. The video was published on June 4, 2026. Continue reading
SoFi (NASDAQ: SOFI) and Robinhood (NASDAQ: HOOD) are two of the most popular financial technology, or fintech, stocks in the market. Robinhood has been the better performer over the past few years, but with both stocks beaten down, which is the best choice right now? *Stock prices used were the morning prices of June 3, 2026. The video was published on June 4, 2026. Continue reading
Concerns around private credit don’t seem to be going away. One quarter after investors in Blackstone’s (NYSE:BX) flagship, $79 billion private credit fund, referred to as BCRED, requested redemptions totaling about 8% of shares, investors are now requesting redemptions totaling 10%. While some funds like Blackstone met all redemption requests in the first quarter, they are now not planning to be ...
Concerns around private credit don’t seem to be going away. One quarter after investors in Blackstone’s (NYSE:BX) flagship, $79 billion private credit fund, referred to as BCRED, requested redemptions totaling about 8% of shares, investors are now requesting redemptions totaling 10%. While some funds like Blackstone met all redemption requests in the first quarter, they are now not planning to be so lenient and will actually put up a wall to stop them. Continue reading
Pinterest will spend $4 billion on cloud services from Amazon through 2031, the companies announced Thursday. Both Amazon stock and shares of Pinterest pushed higher. The deal is the largest infrastructure commitment in Pinterest's history.
Pinterest will spend $4 billion on cloud services from Amazon through 2031, the companies announced Thursday. Both Amazon stock and shares of Pinterest pushed higher. The deal is the largest infrastructure commitment in Pinterest's history.