This article first appeared on GuruFocus. Billionaire investor Leo KoGuan said he purchased 1 million shares of Nvidia (NASDAQ:NVDA) on Tuesday, signaling what could be a renewed vote of confidence in the artificial intelligence theme at a time when parts of the market appear uneasy. Nvidia closed at $180.05 in New York that day, suggesting the purchase may have been worth roughly $180 million. In...
This article first appeared on GuruFocus. Billionaire investor Leo KoGuan said he purchased 1 million shares of Nvidia (NASDAQ:NVDA) on Tuesday, signaling what could be a renewed vote of confidence in the artificial intelligence theme at a time when parts of the market appear uneasy. Nvidia closed at $180.05 in New York that day, suggesting the purchase may have been worth roughly $180 million. In a post on X the following day, KoGuan wrote that he believes AI is NOT a bubble and may only be at the beginning of a much larger investment cycle. KoGuan added that he plans to buy another 1 million Nvidia shares soon, saying the move would be intended to show support for what he described as a nervous market. The billionaire previously emerged as one of the largest individual shareholders of Tesla (NASDAQ:TSLA), and while he has grown more skeptical of the company in recent years, he indicated that a large portion of his holdings remains tied to Tesla along with US Treasury bills. KoGuan has criticized Tesla's decision to grant chief executive Elon Musk a compensation package that could potentially reach as much as $1 trillion, though he declined to specify how much of his Tesla position he may have reduced. Even so, he suggested Tesla's energy, cybercab and Teslabot initiatives may not yet be fully reflected in the company's valuation, writing that investors willing to take a longer-term view could still see opportunity. According to the Bloomberg Billionaires Index, KoGuan's fortune is estimated at about $12.8 billion.
ZoltanGabor/iStock via Getty Images This article is part of a series that provides an ongoing analysis of the changes made to Fundsmith’s 13F portfolio on a quarterly basis. It is based on their regulatory 13F Form filed on 02/17/2026. Please visit our Tracking Terry Smith’s Fundsmith 13F Portfolio series to get an idea of their investment philosophy and our last update for the fund’s moves during...
ZoltanGabor/iStock via Getty Images This article is part of a series that provides an ongoing analysis of the changes made to Fundsmith’s 13F portfolio on a quarterly basis. It is based on their regulatory 13F Form filed on 02/17/2026. Please visit our Tracking Terry Smith’s Fundsmith 13F Portfolio series to get an idea of their investment philosophy and our last update for the fund’s moves during Q3 2025. This quarter, Fundsmith’s 13F portfolio value decreased from $19.80B to $17.12B. The number of holdings increased from 35 to 37. The top three holdings are at ~23% while the top five are close to ~38% of the 13F assets: Waters, Stryker, IDEXX, Visa, and Marriott International. Note: Their flagship Fundsmith Equity Fund (2010 inception) has returned 13.6% annualized compared to 12.1% for the MSCI World Index. 2022 was their first down year since inception – negative 13.8%. The following top holdings are not in the 13F report: Unilever plc ( UL ), Novo Nordisk ( NVO ), LVMH ( LVMUY ), and L’Oreal ( LRLCF ). New Stakes: Nutanix ( NTNX ): NTNX is a small 0.42% of the portfolio position established this quarter at prices between ~$46 and ~$78. The stock currently trades well below that range at $40.70. Adma Biologics ( ADMA ): The very small 0.22% of the portfolio stake in ADMA was purchased this quarter at prices between ~$13.75 and ~$20.50. The stock is now at $16.38. Stake Increases: Zoetis Inc. ( ZTS ): The 2.87% ZTS stake was primarily built during Q1 2025 at prices between ~$154 and ~$177. The next quarter saw a ~13% stake increase at prices between ~$140 and ~$172. That was followed by a ~25% stake increase during the last quarter at prices between ~$139 and ~$162. The stock is now at ~$126. There was a ~8% further increase this quarter. Intuit Inc. ( INTU ): INTU is a 2.42% of the portfolio position purchased during Q1 2025 at prices between ~$553 and ~$639. The next quarter saw the position more than doubled at prices between ~$533 and ~$791. That was followed...
Multiple taxis, hours-long drives across the desert and large sums of cash — many travelers stranded in the Middle East are taking matters into their own hands. Leen Al-Rashdan explains. (Source: Bloomberg)
Multiple taxis, hours-long drives across the desert and large sums of cash — many travelers stranded in the Middle East are taking matters into their own hands. Leen Al-Rashdan explains. (Source: Bloomberg)
pixelfit/E+ via Getty Images In a time when AI is lifting many boats outside the directly involved, that does not include all utility and power generating companies. Shares of AE S ( AES ) actually plunged (albeit after rising substantially beforehand) in response to the news of the business being taken private. The irony of this is huge. After all, a utility business like AES should benefit from ...
pixelfit/E+ via Getty Images In a time when AI is lifting many boats outside the directly involved, that does not include all utility and power generating companies. Shares of AE S ( AES ) actually plunged (albeit after rising substantially beforehand) in response to the news of the business being taken private. The irony of this is huge. After all, a utility business like AES should benefit from the rise of AI, datacenters, and demand for electricity at large. However, the transition in the power mix and the upfront investments necessary to make this anticipated growth happen have weighed too much on the business. Frankly, this has created a negative outcome for investors vs. the "steady" base case. This shows the risks in disruption, even on the positive side, as private investors now appear to be reaping the benefits of acquiring the company on the cheap before the real growth kicks in. This reminds investors in any transition that even good changes come with real investment risks. The Deal On the first trading day of March, AES announced that it is being sold to a consortium led by Global Investment Partners (itself acquired by Bl ackRock ( BLK ) no t too long ago) and EQT. This consortium is taking the company private at $15 per share, which translates into a $33.4 billion enterprise valuation. This marks a roughly 40% premium over the VWAP until July last year, when media speculation about an M&A deal broke, although one should understand that net debt (instead of equity) constitutes the majority of the enterprise valuation here. The transaction is seen closing later this year or early in 2027, subject to various (regulatory) approvals, with investors expected to continue to receive quarterly dividends until closing. While this could take up to a year, such approval times are not too uncommon these days. Management rationalized the deal by pointing out that the sale avoids a scenario in which the dividend would need to be reduced or eliminated, or a big equity...
In this article ACWX EEM Follow your favorite stocks CREATE FREE ACCOUNT watch now VIDEO 4:07 04:07 What's driving investors to look beyond the U.S. Markets and Politics Digital Original Video One significant trend has emerged this year: The biggest winners this year are abroad. Emerging markets stocks represented by the iShares MSCI Emerging Markets ETF (EEM) are higher by more than 7% this year,...
In this article ACWX EEM Follow your favorite stocks CREATE FREE ACCOUNT watch now VIDEO 4:07 04:07 What's driving investors to look beyond the U.S. Markets and Politics Digital Original Video One significant trend has emerged this year: The biggest winners this year are abroad. Emerging markets stocks represented by the iShares MSCI Emerging Markets ETF (EEM) are higher by more than 7% this year, while all non-U.S. equities in the iShares MSCI ACWI ex U.S. ETF (ACWX) gaining more than 5%. The U.S. market has lagged in comparison, with the S&P 500 in negative territory year to date. The broad market index has lost 0.3%. That relationship is at odds with what was in place last decade when a strong U.S. dollar and weaker commodities hindered the growth of markets abroad, while near-zero interest rates in the U.S. bolstered the tech leadership the country is known for. Now, a myriad of reasons has many investors hedging their exposure to the U.S. in favor of other opportunities abroad. There's the weaker dollar amid concerns of a ballooning U.S. fiscal deficit, rising commodities amid greater geopolitical uncertainty, and fears of AI concentration risk in U.S. markets. To be sure, the U.S. war in Iran has complicated the picture. This week, emerging markets have sold off amid fears that a disruption to oil refiners in Iran or the passage of the commodity through the Strait of Hormuz would hurt those economies most vulnerable to higher energy prices. South Korea — one of this year's biggest momentum trades — was among the hardest hit given that the manufacturing economy is a top destination for crude passing through the Strait of Hormuz. The iShares MSCI South Korea ETF (EWY) tumbled 11% just this week. On Wednesday, the Kospi index plunged more than 12% in its worst single-day decline on record. Nevertheless, the conflict does little to weigh on the long-term thesis for international stocks, which continues to look bright for investors. "What's going on with Iran and I...
Serhii Sternenko, a popular blogger and adviser to Ukraine's defence minister, posted pictures on Wednesday morning of what he said was the tanker in the Mediterranean, which had a "serious hole in the engine room compartment and is beyond repair".
Serhii Sternenko, a popular blogger and adviser to Ukraine's defence minister, posted pictures on Wednesday morning of what he said was the tanker in the Mediterranean, which had a "serious hole in the engine room compartment and is beyond repair".
VanderWolf-Images/iStock via Getty Images Less than three months after my last coverage , International Seaways, Inc. ( INSW ) has already risen by nearly $30 or approximately 60%. This justifies my buy rating despite the volatile market environment. Today, the price rally continues fueled by the intensifying tensions in the Middle East. This is still supported by its robust performance and fundam...
VanderWolf-Images/iStock via Getty Images Less than three months after my last coverage , International Seaways, Inc. ( INSW ) has already risen by nearly $30 or approximately 60%. This justifies my buy rating despite the volatile market environment. Today, the price rally continues fueled by the intensifying tensions in the Middle East. This is still supported by its robust performance and fundamentals. Valuation and technicals adhere to it as they remain synchronized despite the recent overbuying. INSW Q4 2025: A Smoother Sailing Stubborn inflation and oil price weakness was evident during Q4 2025. These continued to affect the performance of many businesses in the oil market, including oil tankers. Yet, International Seaways, Inc. still handled it very well with its strategic business model, coupled with prudent fleet management and stronger pricing power. Its operating revenue amounted to $267.9M , up by 37.6% YoY from $194.6M. This served as its comeback after its YoY revenue decrease for six consecutive quarters . This was also its strongest performance in seven quarters. This is an impressive feat if we consider the weak oil prices during the quarter. While these are not always directly correlated with INSW, its high spot market exposure is easily affected by oil price volatility. Also, oil price weakness also typically weakens oil production and tanker demand. But things seemed different for INSW. As you can see, all its revenue components rose. This means that its vessels and the commercial pool it belonged to performed well during the quarter. The increasing number of vessels helped expand its global market reach and operating capacity. Income Statement (INSW Q4 2025 Release ) We should also understand that the impact of oil prices is not always linear. Why? Lower oil prices also lower the price of refined outputs like fuel and gasoline. With that, producing them may be cheaper and more profitable as their demand may also increase. I think this also helped...
Bongkod Worakandecha/iStock via Getty Images Investment Outlook AvePoint ( AVPT ) recently reported its Q4 2025 financial results , beating both revenue and earnings per share estimates. I previously analyzed AVPT in April 2024 with a Hold outlook due to concerns about the firm’s growth trajectory. While growth has exceeded my previous concerns, the company's growth rate continues to trend lower, ...
Bongkod Worakandecha/iStock via Getty Images Investment Outlook AvePoint ( AVPT ) recently reported its Q4 2025 financial results , beating both revenue and earnings per share estimates. I previously analyzed AVPT in April 2024 with a Hold outlook due to concerns about the firm’s growth trajectory. While growth has exceeded my previous concerns, the company's growth rate continues to trend lower, and management will be spending more on marketing in 2026, likely hurting EPS in the process. The stock may be currently undervalued due to the GenAI disruption narrative, but I don’t know when that narrative will fade, so I remain on Hold for AVPT. AvePoint’s Market And Approach AvePoint provides a suite of capabilities for data management, governance and protection for Microsoft 365 environments. The firm charges for its software and services primarily on a headcount basis for cloud-based subscriptions, with a full revenue contribution breakdown by type and region shown in the graphic below: SEC The cloud data management market was $110.5 billion in 2024 and is expected to exceed $221.5 billion by 2030, according to a 2025 market research report by Grand View Research. If accomplished, this growth would represent a CAGR of 12.4% from 2025 to 2030, a fairly robust rate of growth. Market drivers will include the exponential growth of business data generation, along with growing regulatory requirements for data security and privacy. The recent introduction of generative AI technologies has also increased data demand and security requirements, adding to the market’s growth dynamics. The historical and expected future growth path of the global Enterprise Data Management Market from 2018 to 2030 is shown here: Grand View Research Organizations of all sizes are increasing their reliance on vendors providing managed services as they outsource non-core operating functions to focus on mission-critical aspects of their operations. Major competitors to AvePoint include the following ...
Victory Capital Chair and CEO Dave Brown discusses the firm's ongoing efforts to acquire Janus Henderson despite the asset manager's existing agreement to be bought by Nelson Peltz’s Trian Fund Management and General Catalyst. He speaks with Dani Burger on "Bloomberg Deals." (Source: Bloomberg)
Victory Capital Chair and CEO Dave Brown discusses the firm's ongoing efforts to acquire Janus Henderson despite the asset manager's existing agreement to be bought by Nelson Peltz’s Trian Fund Management and General Catalyst. He speaks with Dani Burger on "Bloomberg Deals." (Source: Bloomberg)
IOC president Kirsty Coventry certainly suggested as much recently when she said: "Our game is sport. That means keeping sport a neutral ground. A place where every athlete can compete freely, without being held back by the politics or divisions of their governments." Although she did not directly reference any particular country, the comments were widely interpreted to be hinting at a potential l...
IOC president Kirsty Coventry certainly suggested as much recently when she said: "Our game is sport. That means keeping sport a neutral ground. A place where every athlete can compete freely, without being held back by the politics or divisions of their governments." Although she did not directly reference any particular country, the comments were widely interpreted to be hinting at a potential lifting of the partial Olympic ban on Russia and Belarus. Her words were welcomed warmly by Russian officials, with its sports minister suggesting the IOC could consider reinstatement in the spring. So could Russia's Olympic exile be over by the time of the LA Games in 2028? Notably, Paulo Zampolli, US President Donald Trump's special representative for global partnerships, has appeared to support Russian participation at the Paralympics, reportedly saying that "sport is for all"., external While some international sports organisations - such as World Athletics - have continued with blanket bans on Russian athletes, others have started to ease restrictions. For instance, last year the International Judo Federation allowed them to compete under their national flag. And in December, the IOC advised sports governing bodies to let Russian youth athletes compete at international events again, under their own flag and national anthem. In international football, there are also moves to reintegrate Russia. The country was unable to compete at the 2022 World Cup and Euro 2024, and will not be part of the 2026 World Cup. However, Fifa president Gianni Infantino recently said the governing body would consider lifting its ban, adding the sanction has "has not achieved anything" and "has just created more frustration and hatred". Ukraine's opposition to such moves remains steadfast. According to its sports minister, Russia has killed more than 650 Ukrainian athletes and coaches, and damaged 814 sports facilities. Global Athlete, an international athlete-led movement and campaign group, s...
She said it appeared that Ford began to exhibit symptoms at the very end of May and, therefore, there was nothing that could have been done at Barnsley Hospital that would have saved her. The disease is always fatal once symptoms have presented.
She said it appeared that Ford began to exhibit symptoms at the very end of May and, therefore, there was nothing that could have been done at Barnsley Hospital that would have saved her. The disease is always fatal once symptoms have presented.
Ares Management Corporation Partner & Head of Real Estate Julie Solomon and Stonepeak Partners Co-President Luke Taylor discuss where private capital is flowing across AI infrastructure, power and connectivity, speaking with Bloomberg’s moderator at Bloomberg Invest New York 2026. (Source: Bloomberg)
Ares Management Corporation Partner & Head of Real Estate Julie Solomon and Stonepeak Partners Co-President Luke Taylor discuss where private capital is flowing across AI infrastructure, power and connectivity, speaking with Bloomberg’s moderator at Bloomberg Invest New York 2026. (Source: Bloomberg)
BlackJack3D/iStock via Getty Images Introduction: The depressing state of the crypto market The overall crypto market has been a big disappointment to investors recently. Since Trump's victory in November 2024, positive headlines emerged such as the appointment of pro-crypto SEC chair Paul Atkins, approval of the Genius Act and increased institutional adoption. If I told a reasonable investor abou...
BlackJack3D/iStock via Getty Images Introduction: The depressing state of the crypto market The overall crypto market has been a big disappointment to investors recently. Since Trump's victory in November 2024, positive headlines emerged such as the appointment of pro-crypto SEC chair Paul Atkins, approval of the Genius Act and increased institutional adoption. If I told a reasonable investor about these positive developments beforehand, in November 2024, he would probably expect Bitcoin ( BTC-USD ) to be at all-time highs today. Most market participants did exactly that and made bullish Bitcoin forecasts (as shown in the table below). Market Participant Bitcoin Forecasts (2026) Citi $143,000 JP Morgan $170,000 Bernstein $150,000 VanEck $180,000 Average $160,750 Click to enlarge Yet, Bitcoin is currently down 50% from its recent highs, back to its pre-election price level. Data by YCharts Best metrics show Bitcoin is Undervalued The three charts below illustrate Bitcoin's oversold condition and signal strong recovery potential, including new all-time highs. Bitcoin MVRV Z-Score The Bitcoin MVRV Z-Score, which I first encountered through Lyn Alden, is, in my view, the single best indicator for gauging Bitcoin valuation. Here's how to interpret it. The black line represents Bitcoin's market cap --- simply the price multiplied by the number of outstanding coins. The blue line represents Realized Value, which is the average price at which each Bitcoin was last transacted on-chain, multiplied by total circulating supply --- essentially the aggregate cost basis of all Bitcoin holders. The orange line is the Z-score, measuring how far market value deviates from realized value in standard deviations, and flagging periods of extreme overvaluation or undervaluation. Bitcoin MVRV Z-Score (glassnode.com) When the MVRV Z-Score is high, many holders are sitting on large unrealized profits, making it likely that long-term holders will begin distributing. When it is low, Bitcoin is...
In this article AVGO Follow your favorite stocks CREATE FREE ACCOUNT Broadcom CEO Hock Tan speaks at the digital X event in Cologne, Germany, on September 13, 2022. Ying Tang | Nurphoto | Getty Images Broadcom is set to report fiscal first-quarter results after market close on Wednesday. Here's what analysts polled by LSEG are expecting: Earnings per share: $2.03 adjusted Revenue: $19.18 billion A...
In this article AVGO Follow your favorite stocks CREATE FREE ACCOUNT Broadcom CEO Hock Tan speaks at the digital X event in Cologne, Germany, on September 13, 2022. Ying Tang | Nurphoto | Getty Images Broadcom is set to report fiscal first-quarter results after market close on Wednesday. Here's what analysts polled by LSEG are expecting: Earnings per share: $2.03 adjusted Revenue: $19.18 billion At that scale, analysts are projecting nearly 29% revenue growth year over year. The company has benefited from rising demand for artificial intelligence infrastructure, touting a 65% jump in AI revenue in the 2025 fiscal year. Broadcom contributes to the development of Google's Tensor Processing Units, or TPUs. In December, CEO Hock Tan called for fiscal first-quarter AI revenue to double to $8.2 billion. So far in 2026, Broadcom shares have come down 9%, trailing the S&P 500 index, which is flat over the same period. "In our view it is likely caught up in investor concerns that 2026 marks a peak" in capital expenditures on AI equipment, wrote analysts at Evercore, who recommend buying Broadcom stock, in a Monday note to clients. Read more CNBC tech news The lead U.S. cyber agency is stretched thin as Iran hacking threat escalates Anthropic 'made a mistake' in Pentagon talks and should 'correct course,' FCC boss says Google employees call for military limits on AI amid Iran strikes, Anthropic fallout OpenAI's Altman admits defense deal 'looked opportunistic and sloppy' amid backlash Meanwhile, software stocks have been under pressure for weeks as investors ponder competitive threats from generative AI models. Broadcom bought server virtualization software company VMware in 2023. Analysts are looking for $12.25 billion in revenue from semiconductor solutions and $7.02 billion from infrastructure software. During the quarter, Broadcom announced new Wi-Fi 8 chips . For the fiscal second quarter, analysts polled by LSEG are looking for $2.17 in adjusted earnings per share on $2...
State Street Investment Management President & CEO Yie-Hsin Hung and Apollo Asset Management Co-President John Zito discuss the risks and opportunities of integrating private market products into retail portfolios, speaking with Bloomberg’s Lisa Abramowicz at Bloomberg Invest New York 2026. (Source: Bloomberg)
State Street Investment Management President & CEO Yie-Hsin Hung and Apollo Asset Management Co-President John Zito discuss the risks and opportunities of integrating private market products into retail portfolios, speaking with Bloomberg’s Lisa Abramowicz at Bloomberg Invest New York 2026. (Source: Bloomberg)