From The Twits to The Gruffalo and an angry bear in search of his hat… Quentin Blake, Cressida Cowell, Axel Sheffler, Lauren Child and more reveal how they bring children’s books to life Spread across a sprawling 17th-century industrial complex in London’s Clerkenwell, the Quentin Blake Centre for Illustration, which opens next month, is being billed as the largest institution of its kind anywhere...
From The Twits to The Gruffalo and an angry bear in search of his hat… Quentin Blake, Cressida Cowell, Axel Sheffler, Lauren Child and more reveal how they bring children’s books to life Spread across a sprawling 17th-century industrial complex in London’s Clerkenwell, the Quentin Blake Centre for Illustration, which opens next month, is being billed as the largest institution of its kind anywhere in the world: a permanent national home for an art form that shapes everything from children’s books and political cartoons to animation, fashion, advertising and digital culture. Part museum, part gallery and part creative laboratory, the centre represents an extraordinary attempt to drag illustration out of the margins and finally place it at the heart of British cultural life. Eventually the centre will become home to Blake’s own enormous archive: 40,000 drawings created by one of the UK’s best-known and most immediately recognisable artists. Now 93, Blake has spent three-quarters of a century bringing the words of some of our most beloved authors to life. Roald Dahl is the big one, of course – it’s impossible to think of Dahl without seeing Blake’s energetic, dip-pen pictures – but the list also includes Michael Rosen, John Yeoman, Sylvia Plath and Voltaire, as well as Blake’s own books. In other words, it’s difficult to find anyone with the same authority. Continue reading...
A retired American teacher is planning to travel to China in late summer for a reunion with a female farmer he assisted decades ago. In 1999, Ronald Sakolsky, then teaching English in China, was inspired by Inner Mongolian farmer Yin Yuzhen’s battle against desertification and donated US$5,000 to support her tree-planting efforts in the Maowusu Desert. This contribution enabled Yin to plant some o...
A retired American teacher is planning to travel to China in late summer for a reunion with a female farmer he assisted decades ago. In 1999, Ronald Sakolsky, then teaching English in China, was inspired by Inner Mongolian farmer Yin Yuzhen’s battle against desertification and donated US$5,000 to support her tree-planting efforts in the Maowusu Desert. This contribution enabled Yin to plant some of her earliest trees, sowing the seeds of a lasting friendship across continents. Recently, the two...
Listen to Odd Lots on Apple Podcasts Listen to Odd Lots on Spotify Watch Odd Lots on YouTube Subscribe to the newsletter Rope is easy to take for granted. It seems obvious and straightforward. But of course, it had to be invented. Early humans discovered that by twisting fibers around each other, the resulting structure would be something durable and strong. Without rope, all kinds of things aren'...
Listen to Odd Lots on Apple Podcasts Listen to Odd Lots on Spotify Watch Odd Lots on YouTube Subscribe to the newsletter Rope is easy to take for granted. It seems obvious and straightforward. But of course, it had to be invented. Early humans discovered that by twisting fibers around each other, the resulting structure would be something durable and strong. Without rope, all kinds of things aren't possible, from lifting objects into the air to whaling or modern bridges. So how was it developed and what were the big breakthroughs in its history? On this episode, we speak with Tim Queeney, the author of the recent book Rope: How a Bundle of Twisted Fibers Became the Backbone of Civilization . He walks us through the history of the technology, and its ongoing evolution, including how it might one day allow to build an elevator into outer space.
Australia's Defense Minister Richard Marles speaks to Bloomberg TV about how the Iran war is shaping his country's security outlook, and the importance of freedom of navigation through the seas. He speaks with Bloomberg's Haslinda Amin on the sidelines of the Shangri-La Dialogue. (Source: Bloomberg)
Australia's Defense Minister Richard Marles speaks to Bloomberg TV about how the Iran war is shaping his country's security outlook, and the importance of freedom of navigation through the seas. He speaks with Bloomberg's Haslinda Amin on the sidelines of the Shangri-La Dialogue. (Source: Bloomberg)
Rope is easy to take for granted. It seems obvious and straightforward. But of course, it had to be invented. Early humans discovered that by twisting fibers around each other, the resulting structure would be something durable and strong. Without rope, all kinds of things aren’t possible, from lifting objects into the air to whaling or modern bridges. So how was it developed and what were the big...
Rope is easy to take for granted. It seems obvious and straightforward. But of course, it had to be invented. Early humans discovered that by twisting fibers around each other, the resulting structure would be something durable and strong. Without rope, all kinds of things aren’t possible, from lifting objects into the air to whaling or modern bridges. So how was it developed and what were the big breakthroughs in its history? On this episode, we speak with Tim Queeney, the author of the recent
Ivan-balvan/iStock via Getty Images Nonetheless, sector hit hard by war-related spike in cost pressures Recent data from S&P Global Market Intelligence indicated a notable shift in the near-term outlook for the chemicals industry in April 2026. Global demand for chemicals and chemical-related products showed signs of strengthening, driven by increased new orders and a faster pace of production gro...
Ivan-balvan/iStock via Getty Images Nonetheless, sector hit hard by war-related spike in cost pressures Recent data from S&P Global Market Intelligence indicated a notable shift in the near-term outlook for the chemicals industry in April 2026. Global demand for chemicals and chemical-related products showed signs of strengthening, driven by increased new orders and a faster pace of production growth. However, the overall environment remains complex, with rising costs and geopolitical uncertainties tempering optimism. The ongoing conflict in the Middle East has significantly impacted the sector, leading to soaring raw material and energy prices. While demand has temporarily surged due to precautionary stockpiling, the sector faces persistent challenges from supply chain disruptions and heightened cost pressures. PMI data signals uptick in global chemicals sector performance April’s PMI ® data points to a robust increase in new orders across the global chemicals sector, following a return to growth in March. Both domestic and international markets contributed to this uptick, with manufacturers reporting a rise in export sales at the start of Q2. The growth in new business was the strongest in over four years, supporting a quicker increase in production. Several survey respondents highlighted increased demand for products related to oil, gas, and plastics, driven by fears of supply shortages and safety stockpiling amid geopolitical tensions. This trend was evident across multiple manufacturing PMI surveys, as customers sought to preempt further price hikes and mitigate supply chain risks. European respondents, in particular, emphasized efforts to diversify supply sources to reduce vulnerability to disruptions. Regionally, the trends seen in Europe and Asia aligned broadly with those at the global level, where demand growth was evident. Asia’s expansion in new sales outpaced the global average, while Europe’s expansion remained steady from March. In the United States, ...
Hong Kong authorities will crack down on flavoured tobacco substances in the next phase of its enhanced smoking control measures, with the health minister describing such products as a “poisoned chalice” designed to hook younger people. Secretary for Health Lo Chung-mau warned on Saturday that flavoured tobacco was mostly delivered through e-cigarettes, with additives containing menthol or sugar-c...
Hong Kong authorities will crack down on flavoured tobacco substances in the next phase of its enhanced smoking control measures, with the health minister describing such products as a “poisoned chalice” designed to hook younger people. Secretary for Health Lo Chung-mau warned on Saturday that flavoured tobacco was mostly delivered through e-cigarettes, with additives containing menthol or sugar-coated toxins used to mask the bitterness and smell of tobacco and attract young consumers. “About 70...
Kittisak Kaewchalun /iStock via Getty Images Investment Overview In this article, I argue that Adecoagro SA ( AGRO ) is currently a top commodity-related equity investment, due to the following core thesis: Adecoagro is mispriced as a cyclical agriculture company, but it is actually more like a portfolio of commodities with internal hedges. Furthermore, the company benefits from supply constraints...
Kittisak Kaewchalun /iStock via Getty Images Investment Overview In this article, I argue that Adecoagro SA ( AGRO ) is currently a top commodity-related equity investment, due to the following core thesis: Adecoagro is mispriced as a cyclical agriculture company, but it is actually more like a portfolio of commodities with internal hedges. Furthermore, the company benefits from supply constraints in urea and ethanol, providing a structural medium and long-term edge that the market is underestimating. My valuation model assigns a base case fair value per share of $21, which represents ~69% upside to the current market price of $12.51 at time of writing. Background A major theme of 2026 thus far is the revitalized commodity trade. The prolonged closure of the Strait of Hormuz has demonstrated how beholden the global economy is to a number of commodity goods that flow through a 21 mile wide waterway. In addition to the obvious oil and fuel disruptions, huge quantities of fertilizers, aluminum, monoethylene glycol, and iron ore are trapped within the Gulf region. Global integration has over time pushed down commodity prices, allowing for cheaper derivative products. Commodity-centered investing is not a particularly good bet when the free market is ruthlessly allowed to drive down prices through global competition. But more recently, the pendulum has started to swing in the other direction. Geopolitically disrupted supply chains are a boon to a number of commodities. Climate change also entails major disruptions to global commodity production. As a result, I believe that strategic investments in commodity-related equities are important for investors seeking short, medium, and long-term protection against geopolitical and climatic volatility. The objective of this article is to identify the best available commodity stock for this set of purposes. Criteria To pick the top commodity-related equity available at the moment, I’m using the following criteria. The company must...
GummyBone/iStock Editorial via Getty Images The Investment Thesis Most investors already know the classic version of the NVIDIA ( NVDA ) investment thesis. As the world’s dominant AI chip supplier, the company has essentially created the GPU-accelerated computing industry. This business has seen revenue grow exponentially to $81.6 billion in Q1 FY 2027. But I want to make the case for something be...
GummyBone/iStock Editorial via Getty Images The Investment Thesis Most investors already know the classic version of the NVIDIA ( NVDA ) investment thesis. As the world’s dominant AI chip supplier, the company has essentially created the GPU-accelerated computing industry. This business has seen revenue grow exponentially to $81.6 billion in Q1 FY 2027. But I want to make the case for something beyond the data center story that we all know and love. Physical AI, the next wave of AI moving from the digital world into the physical one, represents a growth runway for NVIDIA that the market has not yet fully priced in. I see this thematic as driving NVIDIA’s growth over the next decade and completely justifying NVIDIA’s valuation today. Before we dive in, let’s just remind ourselves of what constitutes a Quality Growth stock. Strong fundamentals, consistent EPS growth, durable competitive advantages, and clear catalysts for future growth. This article will focus on the latter, and the opportunities the Physical AI growth catalyst represents for NVIDIA. The Fundamentals First: This Is a Business Firing on All Cylinders Let’s start where any good Quality Growth analyst should, with the numbers. NVIDIA's Q1 FY2027 results were, by any objective measure, extraordinary. Revenue came in at $81.6 billion , up 85% year-over-year and 20% sequentially, beating the $78.8 billion analyst consensus. Non-GAAP EPS of $0.96 beat consensus of $0.93 by 3.2%. Although impressive, the revenue beat wasn’t exactly a surprise. Despite NVIDIA's strong financial and operational performance, the market’s reaction was somewhat muted. This reflected already sky-high expectations baked into the share price, as well as a pre-earnings rally that left little room to disappoint. Really encouragingly, Q2 FY2027 guidance was set at $91 billion, well ahead of the $84.4 billion analysts were expecting. The core engine of that demand is, as you could expect, NVIDIA’s data center business. Data center revenu...
GummyBone/iStock Editorial via Getty Images The Investment Thesis Most investors already know the classic version of the NVIDIA ( NVDA ) investment thesis. As the world’s dominant AI chip supplier, the company has essentially created the GPU-accelerated computing industry. This business has seen revenue grow exponentially to $81.6 billion in Q1 FY 2027. But I want to make the case for something be...
GummyBone/iStock Editorial via Getty Images The Investment Thesis Most investors already know the classic version of the NVIDIA ( NVDA ) investment thesis. As the world’s dominant AI chip supplier, the company has essentially created the GPU-accelerated computing industry. This business has seen revenue grow exponentially to $81.6 billion in Q1 FY 2027. But I want to make the case for something beyond the data center story that we all know and love. Physical AI, the next wave of AI moving from the digital world into the physical one, represents a growth runway for NVIDIA that the market has not yet fully priced in. I see this thematic as driving NVIDIA’s growth over the next decade and completely justifying NVIDIA’s valuation today. Before we dive in, let’s just remind ourselves of what constitutes a Quality Growth stock. Strong fundamentals, consistent EPS growth, durable competitive advantages, and clear catalysts for future growth. This article will focus on the latter, and the opportunities the Physical AI growth catalyst represents for NVIDIA. The Fundamentals First: This Is a Business Firing on All Cylinders Let’s start where any good Quality Growth analyst should, with the numbers. NVIDIA's Q1 FY2027 results were, by any objective measure, extraordinary. Revenue came in at $81.6 billion , up 85% year-over-year and 20% sequentially, beating the $78.8 billion analyst consensus. Non-GAAP EPS of $0.96 beat consensus of $0.93 by 3.2%. Although impressive, the revenue beat wasn’t exactly a surprise. Despite NVIDIA's strong financial and operational performance, the market’s reaction was somewhat muted. This reflected already sky-high expectations baked into the share price, as well as a pre-earnings rally that left little room to disappoint. Really encouragingly, Q2 FY2027 guidance was set at $91 billion, well ahead of the $84.4 billion analysts were expecting. The core engine of that demand is, as you could expect, NVIDIA’s data center business. Data center revenu...
Eli Lilly (NYSE: LLY) may not immediately come to mind when you think of growth stocks. Instead, you might think of technology or even consumer-oriented players. But Lilly actually has shown itself to be a top growth player in recent quarters, and this is thanks to its strength in one particular market: the obesity drug market. Lilly has slipped ahead of rival Novo Nordisk to control the GLP-1 dru...
Eli Lilly (NYSE: LLY) may not immediately come to mind when you think of growth stocks. Instead, you might think of technology or even consumer-oriented players. But Lilly actually has shown itself to be a top growth player in recent quarters, and this is thanks to its strength in one particular market: the obesity drug market. Lilly has slipped ahead of rival Novo Nordisk to control the GLP-1 drug market in the U.S., now holding about 60% share. This is a big deal considering the high demand for these weight loss drugs, which has translated into blockbuster revenue. Investors, recognizing this, have piled into Lilly stock -- over the past three years, the shares have advanced more than 160%. Lilly, along with other growth stocks, struggled in the first months of this year, but over the past month, the stock has rocketed higher, surpassing $1,000. Continue reading
Jose carlos Cerdeno/iStock via Getty Images We've gone and really done it this time. Down somewhat from Wednesday's high, the rates market still ended the week pricing 95% probability of a 25 bps Fed rate hike in the next 11 months (57% by year end). If a rate cut - or even talk of higher rates - coincides with a problematic market downturn, disregard those who will be quick to blame for rate poli...
Jose carlos Cerdeno/iStock via Getty Images We've gone and really done it this time. Down somewhat from Wednesday's high, the rates market still ended the week pricing 95% probability of a 25 bps Fed rate hike in the next 11 months (57% by year end). If a rate cut - or even talk of higher rates - coincides with a problematic market downturn, disregard those who will be quick to blame for rate policy. I'm reminded of the debate surrounding Federal Reserve rate policy leading up to the 1929 stock market crash. Some argued that a misguided Fed, fixated on stock market speculation, had remained excessively tight despite mounting economic vulnerability. More rigorous analysis would recognize that historic late-cycle Credit, speculative and economic "Roaring Twenties" excesses perpetuated precariously loose financial conditions. Like nowadays, responsibility for the inevitable bubble bursting lies with protracted loose money accommodation throughout the boom. May 27 - Financial Times (George Steer and Michael Acton): "Semiconductor stocks have made their best start to a year since the dotcom bubble at the turn of the millennium… A roughly 75% gain since the start of the year has left the Philadelphia Semiconductor Index, which tracks 30 of the world's biggest US-listed chip manufacturers, on track for its largest annual return since 1999… The index has gained more than $5tn in market value over the past two months - about 1.5 times the value of the UK's flagship FTSE 100 index - on the back of increasingly optimistic bets on chip manufacturers' future earnings." When the definitive history of this period is written, the impact of the Fed's 175 bps of rate reduction, which commenced on September 18, 2024, cannot be overstated. The Federal Reserve slashed rates despite excessively loose financial conditions and ongoing rapid system Credit growth. The Fed moved to bolster monetary stimulus despite sticky inflation, which had remained above target for going on four years. The...