Key Points The S&P 500 declined 2% during the first week of March after the U.S. and Israel launched attacks on Iran. Brent crude oil recently hit $94 per barrel, the highest price since late 2022, as Iran has targeted oil infrastructure and tankers near the Strait of Hormuz. Historically, geopolitical shocks have generally been buying opportunities because stocks tend to fall for reasons unrelate...
Key Points The S&P 500 declined 2% during the first week of March after the U.S. and Israel launched attacks on Iran. Brent crude oil recently hit $94 per barrel, the highest price since late 2022, as Iran has targeted oil infrastructure and tankers near the Strait of Hormuz. Historically, geopolitical shocks have generally been buying opportunities because stocks tend to fall for reasons unrelated to the core business. 10 stocks we like better than S&P 500 Index › The S&P 500 (SNPINDEX: ^GSPC), a benchmark for the U.S. stock market, more or less traded sideways through the first two months of the year. Its lackluster performance was due in large part to uncertainty surrounding President Donald Trump's trade policies. Trump says his tariffs have "created an American economic miracle." But economic data tells a different story. U.S. gross domestic product increased just 2.2% last year, and the economy added only 181,000 jobs. In both cases, those are the worst numbers since the pandemic in 2020. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » The situation got more complicated last weekend when the U.S. and Israel attacked Iran. The S&P 500 has since dropped 2%, and oil prices have increased about 30% to $94 per barrel, the highest level since late 2022. However, the stock market rebounded fairly quickly the last time oil prices spiked in response to geopolitical uncertainty. Here's what investors should know. The Iran war has pushed oil prices to levels last seen in late 2022 The U.S. and Israel launched joint attacks on Iran on Feb. 28, intending to cripple its nuclear and ballistic missile programs. Iran has responded with counterstrikes aimed at U.S. and Israeli military facilities across the Middle East, drawing more countries into the conflict. Iranian missiles and drones have targeted oil in...
Political efforts to cripple Turkey’s main opposition and lock up its presidential candidate will never stifle the people’s frustration with the government and their growing demand for change, Istanbul’s jailed mayor has said in an interview. “An irreversible process for a change in power has begun in Turkey and it won’t stop until it is complete. I cannot stop it … nor can the ruling party nor th...
Political efforts to cripple Turkey’s main opposition and lock up its presidential candidate will never stifle the people’s frustration with the government and their growing demand for change, Istanbul’s jailed mayor has said in an interview. “An irreversible process for a change in power has begun in Turkey and it won’t stop until it is complete. I cannot stop it … nor can the ruling party nor the judiciary,” Ekrem Imamoglu said in a written response to Agence France-Presse questions conveyed via lawyers from his prison cell in Silivri, west of Istanbul. “Whatever is done to my party or me, we won’t abandon this path [to democracy] we’re walking on with the nation,” the 54-year-old said. Advertisement His remarks came just days before his trial on Monday in a massive corruption case that critics say is designed to block him from challenging President Recep Tayyip Erdogan in the next election. His arrest nearly a year ago sparked some of Turkey’s biggest street protests in over a decade and was followed by mounting legal pressure on the main opposition CHP, the party he was chosen to represent in the next presidential race. Advertisement To date, 15 CHP mayors are behind bars.
esemelwe/iStock via Getty Images In December 2025, I decided to downgrade PennantPark Floating Rate Capital ( PFLT ) because of three reasons: Base dividend coverage was well below 100% (worse than for most other sector peers). Leverage was meaningfully above a level that could be deemed prudent. Clear push towards unconsolidated JVs, which facilitate additional leverage even if it otherwise (on a...
esemelwe/iStock via Getty Images In December 2025, I decided to downgrade PennantPark Floating Rate Capital ( PFLT ) because of three reasons: Base dividend coverage was well below 100% (worse than for most other sector peers). Leverage was meaningfully above a level that could be deemed prudent. Clear push towards unconsolidated JVs, which facilitate additional leverage even if it otherwise (on a consolidated level) by BDC regulation might not be allowed. However, the decision was not that easy because of PFLT's rock-solid portfolio and strong earnings quality. In other words, from the underwriting perspective (or credit risk management perspective), PFLT is definitely in the top decile along with such best-of-breed names as Sixth Street Specialty Lending ( TSLX ), Capital Southwest ( CSWC ), and Kayne Anderson BDC, Inc. ( KBDC ). Now, what has happened since then is almost a perfect correlation to the overall BDC sector ( BIZD ): YCharts What is interesting is that if we exclude the recovery process (or period) from the total return chart that happened across the entire BDC landscape until the SaaS aspect emerged, we will notice how significantly the market has punished PFLT: YCharts We could read this situation in several ways, but my explanation lies in PFLT's above-average leverage, which magnifies both upside and downside trends. As a result of the recent repricing, PFLT's P/NAV has dropped to 0.77x, which looks very attractive, at least on the surface. The same could be said about the current dividend yield of ~15%, where the management has provided an encouraging commentary in the Q4 earnings call about how it plans to maintain it going forward. I find it quite interesting, to say the least. Many similar externally managed and core middle market-focused BDCs, but with much lower leverage and better dividend coverage levels, have either cut or guided for lower distributions in the foreseeable future. Morgan Stanley Direct Lending Fund ( MSDL ) and Nuveen Chur...
Key Points New Berkshire Hathaway CEO Greg Abel provided details on how he plans to run the company. Over 18 pages, Abel discussed Berkshire's corporate structure and broader business. He also discussed the company's massive equity portfolio and plans for capital distributions. 10 stocks we like better than Berkshire Hathaway › New Berkshire Hathaway (NYSE: BRKA)(NYSE: BRKB) CEO Greg Abel official...
Key Points New Berkshire Hathaway CEO Greg Abel provided details on how he plans to run the company. Over 18 pages, Abel discussed Berkshire's corporate structure and broader business. He also discussed the company's massive equity portfolio and plans for capital distributions. 10 stocks we like better than Berkshire Hathaway › New Berkshire Hathaway (NYSE: BRKA)(NYSE: BRKB) CEO Greg Abel officially kicked off his tenure as the large conglomerate's new chief with an 18-page letter to shareholders, officially replacing the annual letter that former CEO Warren Buffett had penned for decades. Abel provided many details, including how he plans to run the company, an overview of its current state, and an unprecedented look at how Berkshire views many positions in its roughly $315 billion equities portfolio. Here are three things investors need to know. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » 1. Berkshire Hathaway's corporate structure moving forward Berkshire is comprised of many businesses, including insurance, energy, mortgages, and railroads, to name a few. In total, Berkshire has 51 noninsurance operating divisions. Abel said the company will maintain its decentralized model in which the leaders of each Berkshire business have greater autonomy, less bureaucracy, and, of course, accountability, a combination that Abel and the company have seen great results from and believe is a "competitive advantage." The insurance business will, of course, be led by Berkshire veteran Ajit Jain, who is highly praised by Buffett and Abel. Adam Johnson, who has served as the president and CEO of Berkshire subsidiary NetJets and worked at Berkshire for three decades, will become president of all of Berkshire's consumer products, services, and retailing businesses, comprising 32 noninsurance operating companie...
Key Points Mortgage rates briefly dropped below 6% in late February. Retirees looking to refinance or downsize may want to take advantage. There are other housing market factors worth considering on top of mortgage rates. The $23,760 Social Security bonus most retirees completely overlook › On Feb. 28, mortgage rates did something they hadn't done for more than three years: drop below the 6% mark....
Key Points Mortgage rates briefly dropped below 6% in late February. Retirees looking to refinance or downsize may want to take advantage. There are other housing market factors worth considering on top of mortgage rates. The $23,760 Social Security bonus most retirees completely overlook › On Feb. 28, mortgage rates did something they hadn't done for more than three years: drop below the 6% mark. Mortgage rates have been dropping since the start of the year. But the last time rates fell below 6% was September 2022. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » If you're retired, you may be tempted to take advantage of today's slightly lower borrowing rates. Let's review when it makes sense to act and when it pays to sit tight instead. When to consider jumping on today's mortgage rates Let's get one thing out of the way: Although today's mortgage rates are lower than they've been recently, they're not low by historical standards. However, they do present an opportunity for certain retirees. You may want to consider taking advantage of today's mortgage rates by refinancing your existing home loan. This makes sense to do if today's rates are low enough to reduce your monthly payments significantly and if you're having a hard time keeping up with your existing mortgage. Many retirees live on a fixed income that consists largely of Social Security. And given that this year's cost-of-living adjustment wasn't super generous, lower mortgage payments could do great things for your monthly budget. But be careful. If you refinance and reset the clock on your mortgage, you may end up taking that debt to the grave. Of course, that's not automatically a terrible thing. But you'll need to consider both the pros and cons of putting a new mortgage in place at this stage of life. If you've been waiting to downsi...
If you are wondering whether Apple's share price still makes sense at current levels, you are not alone. Many investors are asking what they are really paying for when they buy the stock today. Apple recently closed at US$257.46, with a 7 day return of 2.5% decline, a 30 day return of 7.4% decline and a year to date return of 5.0% decline, while the 1 year, 3 year and 5 year returns sit at 8.2%, 7...
If you are wondering whether Apple's share price still makes sense at current levels, you are not alone. Many investors are asking what they are really paying for when they buy the stock today. Apple recently closed at US$257.46, with a 7 day return of 2.5% decline, a 30 day return of 7.4% decline and a year to date return of 5.0% decline, while the 1 year, 3 year and 5 year returns sit at 8.2%, 75.9% and 118.4% respectively. These moves are unfolding against a steady stream of news about Apple's product pipeline, ecosystem updates and ongoing share repurchases, which all feed into how the market prices the business. For example, headlines often focus on new device launches, services growth or regulatory developments, each of which can shift sentiment around what counts as a fair price for the stock. Right now Apple scores 1 out of 6 on our valuation checks for being undervalued, as shown by its . In the next sections we will look at how different valuation methods treat the stock, while also pointing you to an even better way to make sense of those numbers by the end of this article. Apple scores just 1/6 on our valuation checks. See what other red flags we found in the . Advertisement Approach 1: Apple Discounted Cash Flow (DCF) Analysis The Discounted Cash Flow, or DCF, model estimates what a business could be worth by projecting its future cash flows and then discounting those amounts back to today. It is essentially asking what Apple’s expected future cash generation is worth in present dollar terms. For Apple, the model used here is a 2 Stage Free Cash Flow to Equity approach. The latest twelve month free cash flow is about US$124.1b. Analysts provide explicit forecasts for the next few years, and Simply Wall St then extrapolates further out, with projected free cash flow reaching US$193.0b in 2030 and extending through a ten year path of estimated cash flows. All those future US$ cash flows are discounted back to today using the model’s assumptions. This resu...
Key Points Paramount Skydance submitted the winning bid to acquire Warner Bros. Discovery. However, an acquisition of that magnitude faces a host of challenges to integrate and ultimately may not succeed. With the overhang removed, Netflix is free to focus on what it does best -- deliver the world's most popular streaming entertainment. 10 stocks we like better than Netflix › After months of uncer...
Key Points Paramount Skydance submitted the winning bid to acquire Warner Bros. Discovery. However, an acquisition of that magnitude faces a host of challenges to integrate and ultimately may not succeed. With the overhang removed, Netflix is free to focus on what it does best -- deliver the world's most popular streaming entertainment. 10 stocks we like better than Netflix › After months of uncertainty, Netflix (NASDAQ: NFLX) investors got the news they've been waiting for. Late last week, the company walked away from a potential bidding war with Paramount Skydance (NASDAQ: PSKY). The two media companies were locked in a fierce battle to acquire Warner Bros. Discovery (NASDAQ: WBD). While Netflix only wanted the streaming and studio assets, Paramount wanted the company lock, stock, and barrel -- including its legacy television and cable assets. Netflix walked away from the deal, refusing to increase its bid for Warner Bros. Since then, headlines have trumpeted how Paramount "won" the deal. I wouldn't be so quick to call it a win. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » Price is what you pay, value is what you get Paramount paid a high price to convince the Warner Bros. board to accept the deal. After initially offering $30 per share, Paramount increased its bid to $31. In all, the cost of the acquisition stands at roughly $110 billion, in addition to the $2.8 billion breakup fee Paramount paid to Netflix on Warner Bros.' behalf. Beyond the price tag of the deal, which some believe may have been too high, the combined Paramount/Warner Bros. company will be saddled with $79 billion in debt if the deal closes, in what is being called the "largest leveraged buyout in history." That's not necessarily a good thing. Mergers and acquisitions are fraught with uncertainty and are uphill battles, ev...
In this article USB UAMY CAAS BA Follow your favorite stocks CREATE FREE ACCOUNT Chinese Foreign Minister Wang Yi attends a press conference on China's foreign policy and external relations on the sidelines of the fourth session of the 14th National People's Congress (NPC) on March 8, 2026 in Beijing, China. Vcg | Visual China Group | Getty Images BEIJING — China's top diplomat Wang Yi underscored...
In this article USB UAMY CAAS BA Follow your favorite stocks CREATE FREE ACCOUNT Chinese Foreign Minister Wang Yi attends a press conference on China's foreign policy and external relations on the sidelines of the fourth session of the 14th National People's Congress (NPC) on March 8, 2026 in Beijing, China. Vcg | Visual China Group | Getty Images BEIJING — China's top diplomat Wang Yi underscored Sunday the benefits of interacting with the U.S., and signaled preparations are underway for a planned meeting between the two countries' leaders amid differences over the war in Iran and trade tariffs. "The agenda of high-level exchanges is already on the table," Wang told reporters in Mandarin Chinese, according to an official translation. "What the two sides need to do now is make thorough preparations accordingly, create a suitable environment, manage the risks that do exist and remove unnecessary disruptions." "Turning our backs on each other would only lead to mutual misperception and miscalculation," he said. "Sliding into conflict or confrontation would only drag the whole world down." After an in-person meeting in South Korea in the fall, Chinese President Xi Jinping and U.S. President Donald Trump indicated plans to visit each other's countries. Trump is scheduled to visit China from March 31 to April 2, which would be the first trip to the country by a sitting U.S. president since 2017. However, Beijing has yet to confirm the exact dates of a Trump visit. Wang did not elaborate either, but noted the U.S. and Chinese presidents' high-level interactions have "provided [an] important strategic safeguard for the China-U.S. relationship to improve and move forward." watch now VIDEO 3:42 03:42 US-China tech decoupling will be a "long & uncomfortable" process, says Analyst The China Connection Some analysts have raised doubts over whether the trip will happen on schedule , especially since it would likely come shortly after joint U.S.-Israeli attacks on Iran that kille...
All the action from the Formula One season-opener in Melbourne Full report: George Russell wins Australian Grand Prix in thrilling Formula One season-opener Continue reading...
All the action from the Formula One season-opener in Melbourne Full report: George Russell wins Australian Grand Prix in thrilling Formula One season-opener Continue reading...
War in the Middle East “should never have happened”, China’s foreign minister Wang Yi has declared, even as he struck a more conciliatory tone with the US ahead of a highly anticipated visit by Donald Trump. Regime change, a key stated aim of the US president as the US and Israel continue to attack Iran, “will find no popular support”, Wang said on Sunday. “A strong fist does not mean strong reaso...
War in the Middle East “should never have happened”, China’s foreign minister Wang Yi has declared, even as he struck a more conciliatory tone with the US ahead of a highly anticipated visit by Donald Trump. Regime change, a key stated aim of the US president as the US and Israel continue to attack Iran, “will find no popular support”, Wang said on Sunday. “A strong fist does not mean strong reason. The world cannot return to the law of the jungle,” he added. Speaking on the sidelines of China’s annual parliamentary and political gatherings, known as the Two Sessions, the country’s top diplomat and foreign affairs official notably avoided directly criticising the US. Instead, Wang stressed that China was “committed to a spirit of mutual respect” in US-China relations. Recent talks between Trump and Xi Jinping, China’s president, were “heartening”, he said. Wang said that 2026 was a “big year for China-US relations” and that the two sides should “treat each other with sincerity and good faith”. It was a markedly different tone to last year’s press conference, in which Wang accused the US of “two-faced” behaviour in relation to tariffs that the US president had imposed on Chinese goods. This year Wang said that “sliding into conflict or confrontation could bring the whole world down” and that “neither side can remodel the other”. The US and China agreed a temporary truce to the trade war last October. The White House has said that Trump will travel to China between 31 March and 2 April, nearly a decade after his last visit to China in 2017, the most recent by a US president. Further trade negotiations will be high on the agenda. Both sides seem to be focused on keeping the relationship on an even keel ahead of the trip, despite Trump launching a number of destabilising foreign policy moves in the first two months of the year. In January, the US captured Nicolás Maduro hours after the Venezuelan leader met with a visiting Chinese delegation. In February, the US launche...
It is a scene witnessed around the country thousands of times a day as a 26-tonne lorry backs into a tiny space at a builders' yard. But as Nerys Mitchell climbs down from the cab, she is often met with looks of surprise, curiosity and sometimes even doubt.
It is a scene witnessed around the country thousands of times a day as a 26-tonne lorry backs into a tiny space at a builders' yard. But as Nerys Mitchell climbs down from the cab, she is often met with looks of surprise, curiosity and sometimes even doubt.
Aksana Kavaleuskaya/iStock via Getty Images Introduction CFOs derive statistically and economically higher abnormal returns from their purchases of company shares than do CEOs. Furthermore, CFOs' excess return is robust to controlling for risk factors. (Wang, Shin, & Francis, 2012, p. 758). In this article, I provide a sampling of how we optimize portfolio models to identify long-term continued st...
Aksana Kavaleuskaya/iStock via Getty Images Introduction CFOs derive statistically and economically higher abnormal returns from their purchases of company shares than do CEOs. Furthermore, CFOs' excess return is robust to controlling for risk factors. (Wang, Shin, & Francis, 2012, p. 758). In this article, I provide a sampling of how we optimize portfolio models to identify long-term continued strength, short-term aggressive breakout stocks, and even apply timing models to long-term value stocks for the best results. As I repeatedly tell our investment community, it is important to not only diversify your stock selections, but it is also critical to be where the market fund flows are improving for the best returns. As I detailed in my most recent forecast articles If This Is A 2022 Market Repeat, Here Is What Likely Happens Next Mega Cap 8 Declining As Top Performers Emerge In Major Value Rotation These prior forecast articles are not just about what is likely to come next, but how to position for it. They provide a macro context for the stocks and signals that I share in this article. Four Trades From Different Portfolio Models First, let me briefly introduce a sample of stocks from the portfolios beating the markets for the past 9 years on Seeking Alpha. These model portfolios are released at regular weekly, monthly, and annual intervals depending on the portfolio type. Then I will explain why each stock was selected for its respective portfolio. Last, I will share why timing matters even in our value investing portfolios for long-term growth. For this article I will share four stock selections from four different portfolio models out of the 10 different portfolio types enhanced from financial literature beating the S&P 500 for members: Dorchester Minerals, L.P. ( DMLP ) - CFO insider portfolio Harley-Davidson ( HOG ) - Piotroski-Graham value portfolio AT&T ( T ) - Growth & Dividend portfolio Micron Technology ( MU ) - Active Premium portfolio Next we will explor...