Drazen_/E+ via Getty Images For the second time in the last week, I have stumbled across an ETF that invokes the name of Benjamin Graham, the father of value investing in the US. The first occasion led me to analyze the Cambria Global Value ETF ( GVAL ). The fund produced a return of almost 56% in 2025, without the addition of dividends. As I noted in my article, GVAL is rather unique in its stock...
Drazen_/E+ via Getty Images For the second time in the last week, I have stumbled across an ETF that invokes the name of Benjamin Graham, the father of value investing in the US. The first occasion led me to analyze the Cambria Global Value ETF ( GVAL ). The fund produced a return of almost 56% in 2025, without the addition of dividends. As I noted in my article, GVAL is rather unique in its stock selection, as a majority of its holdings come from emerging markets. Claiming to follow in the footsteps of Graham and his Columbia colleague David Dodd, the fund first identifies the cheapest markets and then uses time-tested value metrics like price-to-book, price-to-cash flow, and EV/EBITDA to choose the most undervalued stocks from those discounted countries. The First Eagle Overseas Equity ETF ( FEOE ) also applies the teachings of Graham to identify foreign companies that are trading at a discount to their intrinsic value . This is done through analysis of the companies’ balance sheets, cash flow valuation, and market share. The companies that make the cut are those that may have temporarily disappointed investors with their recent earnings reports, belong to sectors that may have fallen out of favor, or operate in countries that have been overlooked by the broader market. Unlike GVAL, developed markets are most widely represented in the holdings for this fund. While FEOE was not able to produce quite the same results as GVAL in the past year , the fund did place near the top of its foreign large-cap blend peers and seems to be off to a good start in 2026. Whereas an investment in the Cambria Global Value ETF would come with the added risks of exposure to emerging markets, FEOE may be more appropriate for investors who want the security of developed economies while still adhering to the value principles from the legendary US investor. The fund’s short history and its active management style are the only things keeping me from advocating greater enthusiasm to buy the ...
Congress Passes 45-Day Extension Of FISA Section 702, Sending It To Trump's Desk Authored by Joseph Lord via The Epoch Times (emphasis ours), President Donald Trump on Thursday signed a bill to extend a spying authority of Section 702 of the Foreign Intelligence Surveillance Act (FISA) for 45 days as congressional debate on the controversial measure continues. The U.S. Capitol building on April 29...
Congress Passes 45-Day Extension Of FISA Section 702, Sending It To Trump's Desk Authored by Joseph Lord via The Epoch Times (emphasis ours), President Donald Trump on Thursday signed a bill to extend a spying authority of Section 702 of the Foreign Intelligence Surveillance Act (FISA) for 45 days as congressional debate on the controversial measure continues. The U.S. Capitol building on April 29, 2026. Madalina Kilroy/The Epoch Times Both chambers of Congress raced to pass the short-term measure earlier Thursday after the Senate declined to take up a House-passed bill to extend the deadline until 2029. The House passed the “clean” extension, without reforms, which punts the deadline from April 30 to June 12, in a 261–111 vote. It was passed under a suspension of the rules, meaning it relied on Democratic support to pass. However, opposition to the measure was also bipartisan, with 26 Republicans joining 85 Democrats in casting a “No” vote. The measure’s passage and signature into law came just hours before the critical—but contentious—power was due to expire. The 45-day extension was proposed and passed by the Senate earlier on Thursday after it became clear that a three-year extension passed by the House the night before couldn’t pass the Senate before the midnight deadline. Section 702 allows U.S. intelligence agencies to collect emails, phone calls, texts, and other communications of foreign nationals located outside the United States for national security purposes, such as tracking terrorism, espionage, or weapons proliferation, without obtaining an individualized warrant. However, the data of Americans who communicate with these foreign targets can be incidentally gathered and is available to U.S. intelligence without a warrant—a “backdoor search” loophole that has come under criticism by privacy advocates. Trump, despite his current support for a clean reauthorization of the power, has acknowledged his experience with the law in the past. In a post on Truth ...
千呼万唤始出来的LABUBU冰箱在4月30日晚正式发售，正如预期中的火爆一样，该款冰箱发售即售罄，再次验证了LABUBU这一IP的强大吸引力。 作为泡泡玛特跨界布局家电领域的首款产品，THE MONSTERS生活家系列冷藏箱分为Home款和House of the Monsters款两个版本，均采用全球限量发售策略，每款仅999台，统一售价5999元。每台产品均配备唯一限定编号。 二手市场的价格更...
千呼万唤始出来的LABUBU冰箱在4月30日晚正式发售，正如预期中的火爆一样，该款冰箱发售即售罄，再次验证了LABUBU这一IP的强大吸引力。 作为泡泡玛特跨界布局家电领域的首款产品，THE MONSTERS生活家系列冷藏箱分为Home款和House of the Monsters款两个版本，均采用全球限量发售策略，每款仅999台，统一售价5999元。每台产品均配备唯一限定编号。 二手市场的价格更加能证明LABUBU冰箱的火爆程度。 蓝鲸新闻记者4月30日晚查询发现，在得物App上，LABUBU冰箱的转售报价已达到19999元，与官方发售价5999元相比，溢价14000元。 不过，经过一晚的发酵，二手市场对于LABUBU冰箱的狂热已经渐趋冷静，一夜回落超1万元。 5月1日蓝鲸新闻记者查询发现，LABUBU冰箱的二手市场价已经大幅回落。其中得物app上，目前价格区间为7399-8988元，不过成交量颇为可观，发售12小时左右售出60件。 千岛app上在售产品价格均在7000元以下，成交均价在6400元左右，较原价溢价500元左右。 泡泡玛特做家电其实并不突然，近两年从珠宝到甜品，泡泡玛特一直在进行各种跨界尝试，延长IP产业链。 2025年6月13日，泡泡玛特旗下独立珠宝品牌popop全球首店在上海港汇恒隆广场开业。泡泡玛特创始人王宁在现场就曾表示：“我们其实一直也希望能够通过不同的品类去拓展更多的可能性，珠宝是我们一直在尝试的非常重要的品类。”在首饰品牌popop之后，泡泡玛特还推出了甜品品牌POP BAKERY，将IP融入甜品装饰中。从“入口”的甜品到“上身”的珠宝，再到“入住”的家电，泡泡玛特正在将IP深度渗透到用户衣食住行的方方面面。 不过值得注意的是，家电属于低频大件消费品，LABUBU冰箱牵涉售后、维修、品控等此前泡泡玛特鲜少直接面对的工业链条。 对于目前的泡泡玛特而言，这些跨界都并非传统意义上布局新产业，而是将传统消费品作为IP表达的新载体。同一个IP，可以在多个品类中反复变现，不断延长着IP的生命周期与商业价值。不过据证券时报，知情人士称：“家电从业绩的角度来看，短期内对泡泡玛特业绩增量不会有太大影响。” 这意味着，故事没有发生变化，摆在泡泡玛特面前的题目依然是如何创造下一个LABUBU、星星人。
Editor's note: Seeking Alpha is proud to welcome Bern Lake Investor as a new contributing analyst. You can become one too! Share your best investment idea by submitting your article for review to our editors. Get published, earn money, and unlock exclusive SA Premium access. Click here to find out more » JHVEPhoto/iStock Editorial via Getty Images Background Sutro Biopharma ( STRO ) is a South San...
Editor's note: Seeking Alpha is proud to welcome Bern Lake Investor as a new contributing analyst. You can become one too! Share your best investment idea by submitting your article for review to our editors. Get published, earn money, and unlock exclusive SA Premium access. Click here to find out more » JHVEPhoto/iStock Editorial via Getty Images Background Sutro Biopharma ( STRO ) is a South San Francisco-based company developing antibody drug conjugates (ADCs) for various cancers. Sutro Biopharma has had management turnover and a recent reverse stock split (1-for-10) to stay compliant with NASDAQ listing requirements, reducing the outstanding common stock from approximately 85,193,912 shares to approximately 8,519,392. This was the result of operational restructuring , cutting approximately one-third of its employees and announcing a management transition where the former CEO, Bill Newell, transitioned from the company in order to meet the milestones for STRO-004, a next-generation Tissue Factor (TF)-targeting exatecan ADC, and the initiation of clinical studies for at least one of Sutro's additional ADC programs. Operational Restructuring As a result of this restructuring, the President and Chief Operating Officer, Jane Chung, stepped into the role of Chief Executive Officer with a compensation package of $675,000 effective as of the Newell Separation Date, (ii) be eligible to earn a target bonus of 60% of her base salary, and (iii) be granted an award of 620,000 stock options and an award of 310,000 restricted stock units, both awards to be granted at the time of the Company's annual 2025 refresh equity grants. The Company also entered into a Separation and Transition Agreement with its Chief Financial Officer and Chief Medical Officer during this time. The Chief Scientific Officer, Hanspeter Gerber, was announced by the previous CEO, Bill Newell, in September of 2023 with an offer letter agreement on August 28, 2023 , detailing an annual salary of $500,000, a ...
(RTTNews) - The Australian stock market is maintaining its early gains in mid-market moves on Friday, snapping an eight-session losing streak, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving up to near the 8,750 level, with gain
(RTTNews) - The Australian stock market is maintaining its early gains in mid-market moves on Friday, snapping an eight-session losing streak, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving up to near the 8,750 level, with gain
statu-nascendi/iStock via Getty Images Welcome to the Nickel Miners News for April. The past month saw nickel prices move sharply higher. Nickel price news As of April 30, the nickel spot price was USD 19,260/t , sharply higher from USD 17,224/t last month. Nickel inventory at the London Metals Exchange [LME] was slightly lower the past month at 277,518 tonnes (281,574 tonnes last month). Nickel s...
statu-nascendi/iStock via Getty Images Welcome to the Nickel Miners News for April. The past month saw nickel prices move sharply higher. Nickel price news As of April 30, the nickel spot price was USD 19,260/t , sharply higher from USD 17,224/t last month. Nickel inventory at the London Metals Exchange [LME] was slightly lower the past month at 277,518 tonnes (281,574 tonnes last month). Nickel spot price 10 year chart - Current price = USD 19,260/t ( source ) Trading Economics Nickel demand v supply chart Carbon Credits forecasts a nickel oversupply to 2030, then growing deficits from 2030-2035 (as of May 2025) ( source ) Carbon Credits Trend Investing v IEA demand forecast for EV metals (Trend Investing) ( IEA ) Trend Investing & the IEA Lithium & Nickel are the two 'high importance to energy' critical materials in the medium term (2025-2035) ( source - page 29) DoE Nickel Market News On April 3 Discovery Alert reported : Structural factors reshaping global nickel market dynamics...The nickel market structural factors are experiencing transformation driven by the convergence of supply management strategies, input cost inflation, government intervention, and institutional capital reallocation. In April Trading Economics commented : Nickel futures traded above $19,450, marking a near two-year high as supply disruptions and tightening raw material availability reinforced bullish momentum in the market. Prices were underpinned by mining quota cuts in Indonesia, which have constrained ore supply and raised concerns over feedstock availability for downstream processors. In addition, a sulfur shortage linked to disruptions in the Strait of Hormuz added further pressure by raising processing costs for nickel intermediates and tightening output conditions beyond the mining stage. On April 23 Seeking Alpha reported : Commodities: Oil moves higher as peace talks look shaky...The International Nickel Study Group estimates the market will swing to a 32kt deficit in 2026 , fro...
Speculative reports say Amazon is considering relaunching the reality show once hosted by the US president, with his eldest son floated as a possible host Get our weekend culture and lifestyle email Amid speculative reports that Donald Trump Jr is being considered by Amazon to lead a reboot of The Apprentice, he’s already received a slightly muted endorsement from the reality show’s former host: h...
Speculative reports say Amazon is considering relaunching the reality show once hosted by the US president, with his eldest son floated as a possible host Get our weekend culture and lifestyle email Amid speculative reports that Donald Trump Jr is being considered by Amazon to lead a reboot of The Apprentice, he’s already received a slightly muted endorsement from the reality show’s former host: his father. The Wall Street Journal reported on Wednesday that Amazon was considering rebooting The Apprentice, which was hosted by the now US president Donald Trump between 2004 and 2015, for its streaming service Prime Video. Sign up for the fun stuff with our rundown of must-reads, pop culture and tips for the weekend, every Saturday morning Continue reading...
Earnings Call Insights: Allegiant Travel Company (ALGT) Q1 2026 Management View "We started the year on a very strong note," said (CEO & Director Gregory Anderson), citing "a 14.9% adjusted operating margin" and adding, "we achieved our highest first quarter adjusted operating margin since pre-COVID." (CEO & Director Anderson) tied performance to reliability and capacity discipline: "Our operation...
Earnings Call Insights: Allegiant Travel Company (ALGT) Q1 2026 Management View "We started the year on a very strong note," said (CEO & Director Gregory Anderson), citing "a 14.9% adjusted operating margin" and adding, "we achieved our highest first quarter adjusted operating margin since pre-COVID." (CEO & Director Anderson) tied performance to reliability and capacity discipline: "Our operational performance was outstanding with a 99.9% controllable completion factor" and "we prioritize flexible capacity to capitalize on peak demand periods rather than chasing maximum utilization over the entire year." (Executive VP & Chief Commercial Officer Drew Wells) reported record top-line and unit revenue: "We finished the first quarter with $732.4 million in total revenue" and "producing a 1Q TRASM of $0.1431, up 16.4% year-over-year," adding that "both total revenue and TRASM represent first quarter records for the company." (CEO & Director Anderson) highlighted revenue diversification and product traction: "Our co-branded credit card currently has over 600,000 cardholders" and "card remuneration represents just over 5% of our annual revenue," while adding, "Our premium seating product, Allegiant Extra, is continuing to outpace expectations." "For the first quarter, we generated net income of $69.6 million, resulting in earnings per share of $3.77," said (President & CFO Robert Neal), while also stating, "Fuel averaged $3.04 per gallon in the quarter compared to our initial guide of $2.60." On the Sun Country acquisition timeline, (President & CFO Neal) said, "we received DOT approval in April with the remaining step being shareholder votes... scheduled for May 8" and "the transaction should close around May 13." Outlook (CEO & Director Anderson) framed the main variable as fuel: "The main pressure point is jet fuel costs, which have risen sharply," and said the company is responding by "reducing off-peak capacity where margin pressure is most acute" and "reduced service...
The yen ’s intervention-fueled rally is at risk of evaporating quickly, increasing the likelihood that Japan will have to wade back into the market to shore up the exchange rate. The currency started edging lower again on Friday morning in Tokyo, following a 3% surge against the dollar on Thursday, when Japan bought yen and sold dollars. While the nation’s top currency official has declined to con...
The yen ’s intervention-fueled rally is at risk of evaporating quickly, increasing the likelihood that Japan will have to wade back into the market to shore up the exchange rate. The currency started edging lower again on Friday morning in Tokyo, following a 3% surge against the dollar on Thursday, when Japan bought yen and sold dollars. While the nation’s top currency official has declined to confirm intervention, a person familiar with the matter said authorities had entered the market. Economic officials in the US were notified ahead of the move, according to another person familiar with the matter. An erosion of initial gains in the yen would follow the pattern seen around this time in 2024, when Japan came into the market on several occasions to address weakness. Atsushi Mimura , vice finance minister for international affairs, offered a veiled warning of this to traders on Friday ahead of the May 4-6 Golden Week break in Japan. “I will not comment on future developments, but I will point out that we are just at the beginning of a long holiday period,” Mimura said. “We are in extremely close contact with the US, and I believe we share our assessments of the situation and our actions.” Mimura extended his warning to energy traders , adding that, “generally speaking, we are always ready to act regarding crude oil futures transactions.” The yen was trading around 157.31 per dollar as of 11:52 a.m. in Tokyo, having touched 155.57 on Thursday, its strongest since late February. Brent and WTI oil futures fell, but it was not clear if there was a connection or if Japan had intervened. Japanese officials have repeatedly linked some of the recent weakness in the yen to speculative moves in the oil futures market. “The price action reinforces the view that 160 is the line in the sand for Japan’s Ministry of Finance,” said Carol Kong , a strategist at Commonwealth Bank of Australia. “But given the risk of a re-escalation in the Iran war and the Bank of Japan’s non-committ...
Shares of social media giant Meta Platforms (NASDAQ: META) are getting hammered. The stock fell as much as 10% in early trading on Thursday after the company reported its first-quarter results late Wednesday, deepening a sell-off that has carved more than 20% off shares from their fall 2025 high near $796. But there's a curious mismatch here. The actual quarterly numbers were excellent, with reven...
Shares of social media giant Meta Platforms (NASDAQ: META) are getting hammered. The stock fell as much as 10% in early trading on Thursday after the company reported its first-quarter results late Wednesday, deepening a sell-off that has carved more than 20% off shares from their fall 2025 high near $796. But there's a curious mismatch here. The actual quarterly numbers were excellent, with revenue growth accelerating and an impressive operating margin of 41%. Meanwhile, the stock's drop arguably comes down almost entirely to one line in the outlook: a higher 2026 capital expenditure forecast. Continue reading