As the Iran war continues into its 4th week, the effective closure of the Strait of Hormuz has heightened pressure on the US and major energy importers. Iran has threatened to attack Middle Eastern infrastructure if President Trump acts on his vow to "obliterate" Tehran's power plants unless the waterway swiftly reopens. Rachel Ziemba founder of Ziemba Insights spoke to Bloomberg's Horizons Middle...
As the Iran war continues into its 4th week, the effective closure of the Strait of Hormuz has heightened pressure on the US and major energy importers. Iran has threatened to attack Middle Eastern infrastructure if President Trump acts on his vow to "obliterate" Tehran's power plants unless the waterway swiftly reopens. Rachel Ziemba founder of Ziemba Insights spoke to Bloomberg's Horizons Middle East and Africa anchor Joumanna Bercetche on oil prices being higher as the conflict continues. (Source: Bloomberg)
Hong Kong authorities could punish those who refuse to provide passwords for electronic devices during national security investigations under new rules. The government on Monday gazetted amendments it made to the implementation rules of the national security law, nearly six years after Beijing imposed the legislation on the city. The changes took effect immediately. A spokesman said the changes wo...
Hong Kong authorities could punish those who refuse to provide passwords for electronic devices during national security investigations under new rules. The government on Monday gazetted amendments it made to the implementation rules of the national security law, nearly six years after Beijing imposed the legislation on the city. The changes took effect immediately. A spokesman said the changes would strengthen enforcement power, improve prevention and investigation of such cases, and mitigate risks to national security more promptly. Advertisement “Given the current complex and volatile geopolitical situation, national security risks faced by Hong Kong may arise suddenly and unexpectedly,” a government spokesman said. “Therefore, the Hong Kong government must at all times maintain a high degree of vigilance, be always heedful of Hong Kong’s constitutional duty, and continue to improve the legal system and enforcement mechanisms for safeguarding national security.” Advertisement The new offence empowered police officers with magistrate warrants, or those above the rank of assistant commissioner of the force, to require a person under investigation to provide any password or decryption method for electronic equipment, or to offer “any reasonable and necessary information or assistance”. Any person who knows the password or decryption method, who is authorised to access the device, and possesses, controls, or uses the equipment, must comply with the requirement.
Emerson Bergamaschi/iStock via Getty Images Shares of Emerson Electric ( EMR ) have seen quite a setback in recent weeks, with shares down over 20% from the peak, which was somewhat momentum-induced on its own. Emerson is a great business, being well-positioned, a stock with a solid track record. While topline sales growth feels a bit soft lately, it is margin gains and sound capital allocation de...
Emerson Bergamaschi/iStock via Getty Images Shares of Emerson Electric ( EMR ) have seen quite a setback in recent weeks, with shares down over 20% from the peak, which was somewhat momentum-induced on its own. Emerson is a great business, being well-positioned, a stock with a solid track record. While topline sales growth feels a bit soft lately, it is margin gains and sound capital allocation decisions that make me upbeat on the long-term prospects and make me a willing buyer on dips here. Other, higher conviction ideas, including secular growth plays in industrial segments, can be found at Value In Corporate Events . All About Automation In a world that suffers from labor market shortages and mismatches, Emerson Electric claims to be the automation leader. Benefiting from diverse market verticals and customers, the company has an unparalleled software-defined technology stack to deliver on great outcomes for customers. The company is an $18 billion giant that relies on its $10 billion intelligence devices segment. This is complemented by the software & systems business, responsible for a third of sales, complemented by a smaller safety & productivity segment. About half of sales are generated in North America, with meaningful exposure seen in other key geographic areas. The company serves over 100,000 customers, with two-thirds of sales tied to MRO, complemented by greenfield and modernization & expansion projects. The business should benefit greatly from long-term tailwinds related to electrification, energy security, nearshoring, and energy self-sufficiency, including a broad range of verticals and drivers. This is seen in the achievements of the business. While 20% cumulative revenue growth over the past decade is rather modest, the company has seen major achievements in operating margins, having risen a full seven points to a quarter of sales over the past decade! Moreover, the share count has been reduced by some 13%, boosting the achievements on a per-share...
PM Images/DigitalVision via Getty Images Overview As market indices retreat from their all-time highs due to technology, there has been one sector that has outperformed. Although markets are cautious about the uncertainty related to AI, the reality is that there has still been a rising demand in power because of AI. This is where the BlackRock Utilities Infrastructure & Power Oppty fund ( BUI ) ha...
PM Images/DigitalVision via Getty Images Overview As market indices retreat from their all-time highs due to technology, there has been one sector that has outperformed. Although markets are cautious about the uncertainty related to AI, the reality is that there has still been a rising demand in power because of AI. This is where the BlackRock Utilities Infrastructure & Power Oppty fund ( BUI ) has been able to capitalize. When I previously covered BUI, I issued a hold rating due to the premium valuation at the time. Despite the premium, the fund has outperformed the S&P 500 since then, and I believe that the outperformance may continue through 2026. Furthermore, the fund has released an updated annual report for 2025, which prompted me to revisit the overall value proposition. What caught my attention was that the fund's valuation has significantly improved. For instance, BUI now trades at a discount to NAV of 2.5%, which is cheaper than the five-year average premium to NAV of 0.05%. Referring to the red line on the graph below, we can see that the fund trades at a very reasonable valuation compared to its historical range, which now justifies the accumulation of shares. I believe that the fund will be able to capture positive earnings growth, which should help improve the dividend coverage and underlying NAV growth. CEFData.com The fund now offers a starting dividend yield of 6.3%, which is high enough for income investors to be satisfied but also low enough to allow the fund to provide meaningful price growth over time. An issue we can see with many other high-yield funds is that the dividend yield is so generous that it makes it hard for the fund to grow its NAV since all earnings are being paid out to shareholders. Looking forward, I believe that BUI is well positioned to capture the growth from AI data centers over the next few years. Fund Strategy According to the fund's overview , BUI now has net assets of $636.8M that are spread across 50 different position...