President Donald Trump onstage at the Treasury Department's Trump Accounts Summit, in Washington, Jan. 28, 2026. Kevin Lamarque | Reuters A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. With the Trump administration weighing whether ...
President Donald Trump onstage at the Treasury Department's Trump Accounts Summit, in Washington, Jan. 28, 2026. Kevin Lamarque | Reuters A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. With the Trump administration weighing whether to allow stock donations to "Trump Accounts" for American children, the potential expansion is raising questions about the legal path — and highlighting the powerful tax benefits — to doing so. "We all want to maximize more multi-billion gifts into kids accts & the gifts may be cash / shares!" wrote Brad Gerstner, the hedge fund manager who pioneered the investment accounts, in a post on X last week after the New York Times first reported the discussions. The move would mean a notable change to the program, which currently requires contributions to be made in cash. Michael and Susan Dell, for instance, have pledged to donate $6.25 billion to seed "Trump Accounts" for 25 million children aged 10 and under in ZIP codes with a median income of $150,000 or less. The structure already comes with tax benefits: Donors can use pre-tax dollars for charitable contributions to benefit a qualified class of beneficiaries. But permitting stock contributions to the accounts would allow donors to offload appreciated shares without paying capital gains tax. Like with other charitable contributions, they can also deduct the stock's fair-market value against their income. The double tax benefit would be similar to that of gifting appreciated stock to donor-advised funds and other charitable entities. "It's a popular practice for particularly high-income taxpayers that would otherwise be paying a high rate," said Will McBride, chief economist of the Tax Foundation. "I think it would make sense that they would try to extend the law to apply here." "This initiative has Trump's name on it so I th...
mizoula Madison Square Garden Sports Corp. ( MSGS ) is attracting attention as the deep run of the New York Knicks basketball team throws a bright spotlight on the potential of a spinoff of the sports asset along with the New York Rangers hockey team. Susquehanna boosted its price target on Madison Square Garden Sports Corp. ( MSGS ) to $404 from $388. Analyst Joseph Stauff pointed to the New York...
mizoula Madison Square Garden Sports Corp. ( MSGS ) is attracting attention as the deep run of the New York Knicks basketball team throws a bright spotlight on the potential of a spinoff of the sports asset along with the New York Rangers hockey team. Susquehanna boosted its price target on Madison Square Garden Sports Corp. ( MSGS ) to $404 from $388. Analyst Joseph Stauff pointed to the New York Knicks' franchise value in comparison to its implied publicly traded discount and extra home playoff games, and he factored in the potential of a partial monetization. Stauff pointed to those drivers as the basis behind the stock's run, given the Knicks' strong playoff run to get to the Eastern Conference finals and now being the favorite to get to the NBA finals. "Obviously it's impossible to handicap odds of an actual monetization, but we think a higher PT on the stock is justified because outside capital is required in order to fund the likely annual FCF burn to occur starting in fiscal 2028 from the new tax law that prevents the tax deductibility of its 5 largest employees (will cost +$60m for the Knicks based on projection of next year's payroll)," he updated. Shares of Madison Square Garden Sports (MSG) are up more than 6% over the last week and are 76% higher over the last 52 weeks amid the spinoff focus. More on Madison Square Garden Madison Square Garden Sports Group: Ride The Momentum Madison Square Garden: A Potential Spin-Off And A Vanishing Discount Madison Square Garden Q1 2026 Earnings Preview MSG Sports gains as Seaport sees positives ahead of possible spin-out of Knicks, Rangers Seeking Alpha’s Quant Rating on Madison Square Garden
The average waiting time for long and short-term general applicants for subsidised public rental housing in Hong Kong had fallen to 4.7 years as of March, authorities said, marking the first time it has dropped below five years under the current administration. Despite the decrease in the “composite figure”, which included light public flats, the average waiting time for a standard public rental h...
The average waiting time for long and short-term general applicants for subsidised public rental housing in Hong Kong had fallen to 4.7 years as of March, authorities said, marking the first time it has dropped below five years under the current administration. Despite the decrease in the “composite figure”, which included light public flats, the average waiting time for a standard public rental home remained unchanged at 5.6 years, according to data released on Thursday. The Housing Bureau said...
Though Lazio were effectively beaten early on, result reflected sound planning and Cristian Chivu’s influence This time Cristian Chivu allowed himself to occupy the stage for a moment, to acknowledge his part in Inter’s success. When the Nerazzurri sealed their 21st league title at the start of this month, their head coach did his best to get out of the limelight, thanking supporters then retiring...
Though Lazio were effectively beaten early on, result reflected sound planning and Cristian Chivu’s influence This time Cristian Chivu allowed himself to occupy the stage for a moment, to acknowledge his part in Inter’s success. When the Nerazzurri sealed their 21st league title at the start of this month, their head coach did his best to get out of the limelight, thanking supporters then retiring to the changing rooms for a cigarette. At his scheduled post-game press conference, he appeared only long enough to introduce his coaching staff and say it was their turn to take the applause. A selfless gesture, if perhaps also a reflection of the fact that he did not feel ready to celebrate. In a brief interview for TV, Chivu expressed happiness for his players then added: “I don’t want to be a hypocrite, but I’m thinking about the Coppa Italia final.” Continue reading...
For much of the past three years, Wall Street has rewarded Meta Platforms (NASDAQ:META) for ruthless capital discipline. The 2023 Year of Efficiency cut roughly 21,000 jobs, pushed operating margin from the mid-20s to the low-40s, and gave shareholders one of the great re-rate stories of the decade. I bought my position in December 2022 ... Mark Zuckerberg’s 1,000-Person Royal Guard: Inside the “D...
For much of the past three years, Wall Street has rewarded Meta Platforms (NASDAQ:META) for ruthless capital discipline. The 2023 Year of Efficiency cut roughly 21,000 jobs, pushed operating margin from the mid-20s to the low-40s, and gave shareholders one of the great re-rate stories of the decade. I bought my position in December 2022 ... Mark Zuckerberg’s 1,000-Person Royal Guard: Inside the “Draft” That Forcibly Moved Meta’s Top Engineers Into a New AI Division
Ascentxmedia | E+ | Getty Images Recent and looming changes to the U.S. Department of Education's student loan repayment plans will affect whether and when millions of borrowers get their debt canceled . The new rules on the government's income-driven repayment plans , or IDRs, stem from President Donald Trump's One Big Beautiful Bill Act and other policy developments. "We are encouraging all borr...
Ascentxmedia | E+ | Getty Images Recent and looming changes to the U.S. Department of Education's student loan repayment plans will affect whether and when millions of borrowers get their debt canceled . The new rules on the government's income-driven repayment plans , or IDRs, stem from President Donald Trump's One Big Beautiful Bill Act and other policy developments. "We are encouraging all borrowers to evaluate their repayment options on which plan is going to be best for them moving forward," said Landon Warmund , a certified financial planner and certified student loan professional at Reliant Financial Services in Kansas City, Missouri. "Proactive planning is always key, and between now and July 1 is the time to do that," said Warmund, who is also a member of CNBC's Financial Advisor Council . Congress created the first IDR plans in the 1990s to make student loan borrowers' bills more affordable. Historically, the plans cap people's monthly payments at a share of their discretionary income and cancel any remaining debt after a certain period, typically 20 years or 25 years. More than 12.5 million student loan borrowers were enrolled in IDR plans in the first quarter of 2026, according to an analysis by higher education expert Mark Kantrowitz. Over 42 million Americans hold student loans, and the outstanding debt exceeds $1.6 trillion , according to the Congressional Research Service. Here's what to know about getting your student debt forgiven amid all the moving parts. Plans that will lead to debt forgiveness: IBR and RAP An IDR plan that still concludes in student loan forgiveness is the Income-Based Repayment plan, or IBR, Kantrowitz said. IBR will be the best option for many borrowers looking for another affordable repayment option now that the SAVE plan is unavailable — and until the new plan, RAP, rolls out this summer. A federal appeals court ended the Biden administration-era SAVE , or Saving on a Valuable Education plan, earlier this year. Under the te...
Amy Sparwasser/iStock via Getty Images The market premium for the US 10-year Treasury yield over a fair‑value estimate remained modest in April but has been edging higher after falling to a near‑equilibrium level late last year. The threat of higher prices stemming from the Iran conflict remains a risk factor, though the repricing of the market premium has been modest so far. The gradual shift may...
Amy Sparwasser/iStock via Getty Images The market premium for the US 10-year Treasury yield over a fair‑value estimate remained modest in April but has been edging higher after falling to a near‑equilibrium level late last year. The threat of higher prices stemming from the Iran conflict remains a risk factor, though the repricing of the market premium has been modest so far. The gradual shift may begin to accelerate in the months ahead as inflation risk moves to center stage in the bond market. The 10‑year yield rose to 4.47% yesterday (May 13), the highest close since last August. The recent upside bias suggests that the pickup in inflation triggered by the Middle East turmoil is starting to alter sentiment for fixed‑income securities. The Labor Department reported this week that consumer and wholesale inflation continued to post sharp increases in April. “Inflation is sticky and accelerating. The core reading confirms a deeper structural trend, especially in services,” said David Russell, global head of market strategy at TradeStation. “The Hormuz crisis is aggravating the problem, but this goes way beyond oil.” The market premium relative to The Capital Spectator’s fair‑value estimate of the 10‑year yield ticked up to 35 basis points last month. That remains modest by historical standards, but if inflation stays elevated—or shows signs of rising further—the premium will likely increase in the months ahead. “What we’ve seen is investors pricing in higher long‑term inflation into what they want to receive from lending to the government,” said Luke Tilley, chief economist at Wilmington Trust. By late 2025, the surge in the 10‑year premium associated with the 2021–2022 inflation spike had faded to nearly zero. But the calculus is changing as the conflict with Iran continues and threatens to become a protracted affair that keeps Gulf energy exports blocked and inflation elevated. A quick resolution that allows exports to resume would likely keep the yield premium mod...
Company re-affirms 2026 guidance and provides expectations for medium-term outlook for 2027 to 2029 Company re-affirms 2026 guidance and provides expectations for medium-term outlook for 2027 to 2029
Company re-affirms 2026 guidance and provides expectations for medium-term outlook for 2027 to 2029 Company re-affirms 2026 guidance and provides expectations for medium-term outlook for 2027 to 2029
Christopher Nolan’s younger brother Jonathan once revealed something that peeked behind the curtain on his older brother’s entire filmography: “Chris doesn’t make movies about time. He makes movies about anxiety… about how to survive when time runs out.” When you think of a Nolan film, it’s the execution that often grabs the headline. Memento was a story told in reverse. Inception was folded insid...
Christopher Nolan’s younger brother Jonathan once revealed something that peeked behind the curtain on his older brother’s entire filmography: “Chris doesn’t make movies about time. He makes movies about anxiety… about how to survive when time runs out.” When you think of a Nolan film, it’s the execution that often grabs the headline. Memento was a story told in reverse. Inception was folded inside of dreams. Interstellar bended across time and galaxies. Dunkirk‘s narrative spread across three increasingly compressed timelines. Tenet was quite literally inverted. On the surface, these look like five completely different films… a thriller, a heist, a space epic, a war movie, a spy puzzle. But underneath, they’re all about racing the clock. InvestorPlace - Stock Market News, Stock Advice & Trading Tips The best investors think the same way. Here’s the problem with how most people are playing the AI boom right now: they see five different stocks and assume they’re five different trades. Quantum computing over here. Food delivery over there. Infrastructure silicon. CPUs and GPUs. Social media data. But they’re not separate. They’re chapters of the same story… and the story is about who owns the infrastructure, the data, the compute, and the physical world before the AI buildout fully prices in. The proof is sitting in last week’s first-quarter 2026 earnings reports. Hyperscaler capex is ramping up, not slowing down. Inferencing workloads are exploding. Quantum computing just crossed from science lab to commercial reality with triple-digit revenue growth. And the companies selling into all of it are putting up numbers that should be impossible at this scale. Here’s the provocation: the market is still mispricing several of the best risk/reward setups in the entire AI complex… and one of them isn’t even an AI stock. It’s the anti-AI AI trade. Below are the five names we covered on this week’s Being Exponential podcast. Click the video below to watch now: IonQ Inc. (IONQ):...
Aleovo/iStock Editorial via Getty Images Viking Holdings ( VIK ) topped first-quarter revenue expectations, posting a 17.5% increase in sales, and said that it is nearly fully booked for the rest of the year. However, gains in the company’s shares were limited by ongoing cost pressures, particularly higher fuel expenses. Vessel operating expenses in the first quarter increased by 15.4% to $357.5M,...
Aleovo/iStock Editorial via Getty Images Viking Holdings ( VIK ) topped first-quarter revenue expectations, posting a 17.5% increase in sales, and said that it is nearly fully booked for the rest of the year. However, gains in the company’s shares were limited by ongoing cost pressures, particularly higher fuel expenses. Vessel operating expenses in the first quarter increased by 15.4% to $357.5M, and vessel operating expenses excluding fuel increased 18% to $47.9M as a result of maintenance timing, repair costs, and the increase in the size of the company’s fleet. While Viking was able to offset some of those energy costs through additional revenue generated by a new ship, the company still reported an adjusted quarterly loss of $0.11 per share. That marked an improvement from a loss of $0.24 per share in the same quarter last year and was in line with analyst expectations. At the same time, increased capacity passenger cruise days (PCDs) and higher revenue per PCD drove adjusted EBITDA up 44% to $104.8M. Looking ahead to the remainder of 2026 and to 2027, operating capacity is 7% higher for 2026 and 15% higher for 2027, and the company has sold 97% of its capacity PCDs for this year and 38% for 2027. Bookings for the 2026 season are up 13% from 2025, with 31% more advance bookings for 2027. Viking ( VIK ) shares are up more than 3% into the open, giving a boost to peers Royal Caribbean ( RCL ), Carnival Corp. ( CCL ), and Norwegian Cruise Line Holdings ( NCLH ). More on Viking Holdings Ltd Viking Holdings: Small But Very Strong Viking Holdings: Better Appreciation Of Moat, Pricing, And Growth Runway Viking Holdings: Fantastic Results Were Already Expected Viking Holdings Ltd Non-GAAP EPS of -$0.11 in-line, revenue of $1.06B beats by $50M Viking Holdings Ltd Q1 2026 Earnings Preview
KishoreJ/iStock via Getty Images Introduction India remains one of the most popular and attractive large emerging market stories, in large part due to its demographics. Urbanization, infrastructure investment, and a growing formal economy are supporting earnings growth across banks, infrastructure-linked companies, energy, utilities, and industrial firms. There are several ETFs in the space, and w...
KishoreJ/iStock via Getty Images Introduction India remains one of the most popular and attractive large emerging market stories, in large part due to its demographics. Urbanization, infrastructure investment, and a growing formal economy are supporting earnings growth across banks, infrastructure-linked companies, energy, utilities, and industrial firms. There are several ETFs in the space, and while WisdomTree India Earnings Fund ETF ( EPI ) is more expensive than its competitors, its earnings-weighted methodology has delivered clear outperformance versus its peers. EPI Is Expensive, But The Methodology Has Worked There’s no denying it: the expense ratio of 0.84% is high by almost any measure, and especially when compared to peers . iShares MSCI India ETF ( INDA ) has an expense ratio of 0.61%, and Franklin FTSE India ETF ( FLIN ) has an expense ratio of only 0.19%. This creates a permanent drag on the fund’s returns and essentially constitutes a hurdle that investors have to clear before the methodology can add value. The fee only makes sense if the earnings-weighted methodology keeps adding value versus cheaper India ETFs, which historically, it has. Over the last five years, EPI returned 32.13%, beating INDA at 15.05%, and FLIN at 22.96%. It has also outperformed these peers quite significantly over a three-year and one-year time frame. Essentially, EPI is expensive, but the performance means the fee should be treated as a hurdle, not necessarily a deal breaker. Earnings Weighting Creates A Different India Portfolio EPI tracks the WisdomTree India Earnings Index, which differs from a standard market-cap-weighted India benchmark. The index includes profitable companies incorporated and traded in India that are eligible for foreign investors, and then weights them by earnings from the prior fiscal year, adjusted for shares available to foreign investors. In practice, this creates a portfolio tilted toward large Indian profit drivers such as banks, energy, materia...
Arx0nt/iStock via Getty Images While Oatly ( OTLY ) is building a more sustainable business, the pace at which this is occurring is problematic due to the state of the company's balance sheet. Oatly's dwindling cash balance and sizeable debt position mean that it probably only has 1-2 years in which to achieve cash flow breakeven. I previously suggested that Oatly's turnaround was progressing and ...
Arx0nt/iStock via Getty Images While Oatly ( OTLY ) is building a more sustainable business, the pace at which this is occurring is problematic due to the state of the company's balance sheet. Oatly's dwindling cash balance and sizeable debt position mean that it probably only has 1-2 years in which to achieve cash flow breakeven. I previously suggested that Oatly's turnaround was progressing and that the stock could provide strong returns at some point due to its low valuation. Oatly's share price is down over 50% since then, which stems from a lack of growth and a significant deterioration in the company's balance sheet. Oatly needs scale to transition to profitability, and while underlying growth has strengthened, this will take time. As a result, I now think that the risk/reward setup is less favorable, even if Oatly's valuation remains modest. Market Conditions While there have been headwinds in recent years, it is difficult to blame Oatly's current predicament on macro conditions. In particular, inflation has caused the company's production costs to rise, and has potentially negatively impacted consumer spending habits. Consumer health concerns about seed oils are perhaps the more important consideration, though. This has been a problem across plant-based proteins and appears to have had a significant impact on demand for plant-based meat in addition to plant-based milks. Internet search data indicates that these fears may have peaked, though, supporting a resurgence in oat milk growth. Figure 1: "Canola Oil Bad" and "Oat Milk" Internet Search Trends (source: Created by author using data from Google Trends) The global dairy alternative market is expected to double in size over the next decade, reaching a value of around 52 billion USD . While Europe dominates that alternative dairy market, there could also be a large opportunity globally due to lactose intolerance, which is more prevalent in regions like Africa, Asia, and South America. In addition, some consu...
Baron Capital, an investment management company, released its Q1 2026 investor letter for the “Baron Durable Advantage Fund”. A copy of the letter can be downloaded here. In Q1 2026, Baron Durable Advantage Fund (the Fund) declined 9.0% (Institutional Shares) compared to the 4.3% decline for the S&P 500 Index (the Index), the Fund’s benchmark. The […]
Baron Capital, an investment management company, released its Q1 2026 investor letter for the “Baron Durable Advantage Fund”. A copy of the letter can be downloaded here. In Q1 2026, Baron Durable Advantage Fund (the Fund) declined 9.0% (Institutional Shares) compared to the 4.3% decline for the S&P 500 Index (the Index), the Fund’s benchmark. The […]