Hong Kong-based Kerry Properties has won a tender for a residential plot in Shau Kei Wan for HK$1.38 billion (US$177 million), which drew heavy bidding interest from both mainland Chinese and local developers. Kerry beat seven other bidders for a 50-year grant for the 1,349-square-metre (14,523 sq ft) parcel in the Eastern district, the Lands Department said on Monday. The plot was expected to pro...
Hong Kong-based Kerry Properties has won a tender for a residential plot in Shau Kei Wan for HK$1.38 billion (US$177 million), which drew heavy bidding interest from both mainland Chinese and local developers. Kerry beat seven other bidders for a 50-year grant for the 1,349-square-metre (14,523 sq ft) parcel in the Eastern district, the Lands Department said on Monday. The plot was expected to provide a total gross floor area of over 130,000 sq ft, yielding around 300 residential units,...
Listen to Odd Lots on Apple Podcasts Listen to Odd Lots on Spotify Watch Odd Lots on YouTube Subscribe to the newsletter For years, DRAM — or Dynamic Random Access Memory — was kind of a sleepy, commoditized aspect of chip industry. Growth was steady, but modest, and prices just generally drifted lower. Suddenly all that's changed. AI has created voracious demand for DRAM and consumer facing compa...
Listen to Odd Lots on Apple Podcasts Listen to Odd Lots on Spotify Watch Odd Lots on YouTube Subscribe to the newsletter For years, DRAM — or Dynamic Random Access Memory — was kind of a sleepy, commoditized aspect of chip industry. Growth was steady, but modest, and prices just generally drifted lower. Suddenly all that's changed. AI has created voracious demand for DRAM and consumer facing companies are being forced to either curtail supply or raise prices due to exploding costs. But what is it about AI that consumes so much memory, and when will the market rebalance itself? On this episode, we speak with Ray Wang, an analyst at SemiAnalysis, who recently co-authored a report titled, Memory Mania: How a Once-in-Four-Decades Shortage Is Fueling a Memory Boom . We discuss the implications of this memory boom, how producers are responding to surging prices, and whether or not the Chinese companies in the space can catch up to the Korean giants, such as Samsung and Hynix.
For years, DRAM — or Dynamic Random Access Memory — was kind of a sleepy, commoditized aspect of chip industry. Growth was steady, but modest, and prices just generally drifted lower. Suddenly all that’s changed. AI has created voracious demand for DRAM and consumer facing companies are being forced to either curtail supply or raise prices due to exploding costs. But what is it about AI that consu...
For years, DRAM — or Dynamic Random Access Memory — was kind of a sleepy, commoditized aspect of chip industry. Growth was steady, but modest, and prices just generally drifted lower. Suddenly all that’s changed. AI has created voracious demand for DRAM and consumer facing companies are being forced to either curtail supply or raise prices due to exploding costs. But what is it about AI that consumes so much memory, and when will the market rebalance itself? On this episode, we speak with Ray Wa
Alibaba Group Holding Ltd. unveiled a major upgrade of its flagship AI model, accelerating a race with a panoply of startups and sectoral leaders aiming to get in ahead of Chinese sensation DeepSeek ’s next big platform. The latest iteration of Alibaba’s Qwen is designed to support AI agent tasks and can understand text, photo and video inputs, the company said in a statement on Monday. It is able...
Alibaba Group Holding Ltd. unveiled a major upgrade of its flagship AI model, accelerating a race with a panoply of startups and sectoral leaders aiming to get in ahead of Chinese sensation DeepSeek ’s next big platform. The latest iteration of Alibaba’s Qwen is designed to support AI agent tasks and can understand text, photo and video inputs, the company said in a statement on Monday. It is able to analyze videos as long as two hours, it added. Alibaba’s Qwen3.5 joins a flurry of upgrades released by rivals from ByteDance Ltd. to Zhipu and Minimax Group Inc. in the weeks leading up to the Lunar New Year. They aim to steal a march on a much-anticipated release from DeepSeek around the first anniversary of the seminal R1, which upended global AI conventions in 2025. Alibaba and its peers are also targeting a weeklong holiday that’s historically proven critical for the adoption of Chinese consumer internet apps. Read More: ByteDance, Zhipu Jolt China’s AI Race Ahead of New Year Alibaba has been among the most aggressive investors in and advocates for AI since DeepSeek reinvigorated the local tech industry. Chief Executive Officer Eddie Wu has pledged more than $53 billion toward infrastructure and AI development — an outlay he said the company could surpass over time. Alibaba last upgraded its flagship model to the Qwen3 series in April. It rolled out last month its latest reasoning model, Qwen3-Max-Thinking, aiming for performance gains in areas like complex reasoning and autonomous agent capabilities. Beyond fundamental technological advancement, Alibaba is also locked in a costly subsidy war in AI with rivals including Tencent Holdings Ltd. and Baidu Inc. The trio plans to deploy a combined 4.5 billion yuan ($649 million) of cash incentives to try and attract and retain users for their chatbots during the holidays. More broadly, the consumer-facing Qwen app is morphing into an all-in-one platform that connects with other parts of Alibaba’s sprawling e-commerce eco...
Selling software stocks before the crowd paid off for Nick Evans , a Polar Capital fund manager. His warning to potential bargain hunters: most shares are still toxic and few firms will survive. “We think application software faces an existential threat from AI,” said Evans, whose $12 billion global technology fund beat 99% of peers over one year and 97% over five. Fears that sophisticated AI tool...
Selling software stocks before the crowd paid off for Nick Evans , a Polar Capital fund manager. His warning to potential bargain hunters: most shares are still toxic and few firms will survive. “We think application software faces an existential threat from AI,” said Evans, whose $12 billion global technology fund beat 99% of peers over one year and 97% over five. Fears that sophisticated AI tools like Anthropic PBC’s Claude Cowork will disrupt software businesses sent their stocks tumbling this year. An exchange-traded fund tracking the US software sector is down 22%, a sharp contrast to semiconductor stocks that have soared as AI spurs computing demand. Read More: Private Credit’s Software Bet Is Even Bigger Than It Appears Application software, which helps users perform tasks such as writing documents and managing payrolls, looks particularly at risk, according to Evans. Apart from a small position and some call options in Microsoft Corp., the fund manager has sold all other holdings in the sector, including SAP SE , ServiceNow Inc., Adobe Inc. and HubSpot Inc. “We won’t go back to these companies,” he said in an interview. In his view, AI coding tools have improved so much that they can already replicate and modify much existing software. That means established firms now face much greater competition from their own clients, who are racing to develop new tools internally to cut costs, as well as AI startups. Companies such as SAP that make complex software packages will likely be more resilient, according to Evans. But with AI tools “getting dramatically more powerful,” there is considerable uncertainty about their long-term valuations, he said. Seven out of the top 10 positions of the fund as of end-January were semiconductor companies, including top holding Nvidia Corp. that occupied nearly 10% of the portfolio. Aside from chipmakers, Evans said he’s bullish on firms that make networking gears, fiber optics, and those that provide power and energy infrastructu...
“We think application software faces an existential threat from AI,” said Evans, whose $12 billion global technology fund beat 99% of peers over one year and 97% over five. An exchange-traded fund tracking the US software sector is down 22%, a sharp contrast to semiconductor stocks that have soared as AI spurs computing demand. Application software, which helps users perform tasks such as writing ...
“We think application software faces an existential threat from AI,” said Evans, whose $12 billion global technology fund beat 99% of peers over one year and 97% over five. An exchange-traded fund tracking the US software sector is down 22%, a sharp contrast to semiconductor stocks that have soared as AI spurs computing demand. Application software, which helps users perform tasks such as writing documents and managing payrolls, looks particularly at risk, according to Evans.
ReNew Energy Global press release ( RNW ): Q3 GAAP EPS of $0.00 beats by $0.10 . Revenue of $280M (+12.9% Y/Y) beats by $16.96M . Total Income for Q3 FY26 was INR 31,372 million (US$ 349 million), compared to INR 21,198 million (US$ 236 million) for Q3 FY25. In Q3 FY26, the company commissioned 288 MWs, which included 238 MWs of wind and 50 MWs of solar capacity. In the first nine months of FY26, ...
ReNew Energy Global press release ( RNW ): Q3 GAAP EPS of $0.00 beats by $0.10 . Revenue of $280M (+12.9% Y/Y) beats by $16.96M . Total Income for Q3 FY26 was INR 31,372 million (US$ 349 million), compared to INR 21,198 million (US$ 236 million) for Q3 FY25. In Q3 FY26, the company commissioned 288 MWs, which included 238 MWs of wind and 50 MWs of solar capacity. In the first nine months of FY26, it commissioned 1.3 GWs, of which 578 MWs was wind and 751 MWs was solar. Subsequent to the end of the quarter, the Company commissioned ~240 MWs, taking the total commissioned capacity as on date to ~11.7 GWs (+100 MW BESS). ReNew Energy Global has revised its FY2026 outlook and now expects to complete 1.8–2.4 GW of construction by year-end, while noting that Adjusted EBITDA and Cash Flow to Equity remain dependent on weather conditions and resource availability. The company also expects continued net gains from asset sales as part of its capital-recycling strategy, and projects its solar module and cell manufacturing business to contribute INR 11–13B in Adjusted EBITDA. Overall, FY26 guidance stands at INR 90–93B for Adjusted EBITDA and INR 14–17B for Cash Flow to Equity.
Kativ/iStock via Getty Images PIZ strategy Invesco Dorsey Wright Developed Markets Momentum ETF ( PIZ ) was launched on 12/28/2007 and tracks the Dorsey Wright Developed Markets Tech Leaders™ Index. PIZ has a portfolio of 100 stocks, a 30-day SEC yield of 1.21%, and a total expense ratio of 0.80%. Dividends are paid quarterly. As described by Invesco , the methodology starts from the largest 1,000...
Kativ/iStock via Getty Images PIZ strategy Invesco Dorsey Wright Developed Markets Momentum ETF ( PIZ ) was launched on 12/28/2007 and tracks the Dorsey Wright Developed Markets Tech Leaders™ Index. PIZ has a portfolio of 100 stocks, a 30-day SEC yield of 1.21%, and a total expense ratio of 0.80%. Dividends are paid quarterly. As described by Invesco , the methodology starts from the largest 1,000 constituents by market capitalization in the Nasdaq Developed Markets Ex-U.S. Index. Every eligible stock is assigned a relative strength score derived from the comparison of its price return with a benchmark over a period of time. The underlying index selects approximately 100 of the best-scoring stocks, and weights them based on their scores. The index is rebalanced on a quarterly basis. This article will use as a benchmark an ex-US developed markets index, represented by iShares Core MSCI International Developed Markets ETF ( IDEV ). Portfolio PIZ has about 61% of asset value in large and mega caps, and 39% in mid-caps. The portfolio is geographically diversified; no country is weighted more than 15%. Canada comes in first position (15%), followed by Switzerland (13%), while other countries are below 9%. Compared to IDEV, PIZ massively underweights Japan. PIZ top 10 countries (chart: author; data: Invesco, iShares) The fund is overweight in financials (39.6%) and industrials (34.2%). Other sectors are below 12%. PIZ sector breakdown ( chart: author; data: Invesco, iShares) The portfolio is well diversified, with moderate company-specific risk. The top 10 stock holdings, listed in the next table, represent 24.3% of asset value, and the largest position weighs 3.3%. Company Ticker %Weight ABB Ltd ABBN 3.34% Siemens Energy AG ENR 2.71% Flughafen Zurich AG FHZN 2.70% Bombardier Inc BBD/B 2.58% Diploma PLC DPLM 2.29% Geberit AG GEBN 2.24% Sampo Oyj SAMPO 2.23% Dollarama Inc DOL 2.17% Schindler Holding AG SCHP 2.04% Investor AB INVEB 2.04% Click to enlarge Fundamentals PIZ ha...
There's a certain freedom in retirement. In addition to spending your days any way you want, you have the option of relocating to another city, or even to another country. However, if you're planning on staying in the U.S., you may want to take a closer look at the Northeast destinations identified in The Best Places to Retire in the Northeast in 2026 study, compiled by The Motley Fool. The Motley...
There's a certain freedom in retirement. In addition to spending your days any way you want, you have the option of relocating to another city, or even to another country. However, if you're planning on staying in the U.S., you may want to take a closer look at the Northeast destinations identified in The Best Places to Retire in the Northeast in 2026 study, compiled by The Motley Fool. The Motley Fool put together this list based on a survey asking retirees what matters most to them in retirement. Issues such as healthcare access, housing affordability, crime, and taxes were all topics of concern. Relocating in retirement can be challenging, so if you're doing it, you want to be sure you're going somewhere that makes you happy. Continue reading
Getty Images This article is part of a series that provides an ongoing analysis of the changes made to Tweedy Browne’s 13F portfolio on a quarterly basis. It is based on Tweedy Browne’s regulatory 13F Form filed on 02/03/2026. Please visit our Tracking Tweedy Browne Portfolio series to get an idea of their investment philosophy and our previous update for the fund’s moves during Q3 2025. This quar...
Getty Images This article is part of a series that provides an ongoing analysis of the changes made to Tweedy Browne’s 13F portfolio on a quarterly basis. It is based on Tweedy Browne’s regulatory 13F Form filed on 02/03/2026. Please visit our Tracking Tweedy Browne Portfolio series to get an idea of their investment philosophy and our previous update for the fund’s moves during Q3 2025. This quarter, Tweedy Browne’s 13F portfolio value increased from $1.15B to $1.24B. The number of holdings decreased from 97 to 96. The largest position is Ionis Pharma at 15.74% of the portfolio. The largest five individual stock positions are Ionis Pharma, CNH Industrial, Berkshire Hathaway, Coca-Cola FEMSA, and Alphabet. Combined, they are at ~58% of the portfolio. 25 of the stakes are significantly large (over ~0.5% of the 13F portfolio each), and they are the focus of this article. Tweedy Browne has released a number of investment research papers over the years, and that is a valuable resource for anyone looking to learn from their value investing philosophy. Also, Christopher Browne authored the book “The Little Book of Value Investing,” a great introduction. Note 1: Tweedy Browne has two Value ETFs: Tweedy, Browne Insider + Value ETF ( COPY ) and Tweedy, Browne International Insider + Value ETF ( ICPY ). Note 2: Tweedy Browne’s flagship Tweedy Browne International Value Fund ( TBGVX ) has a global orientation with non-US allocation at ~92% of the portfolio and cash at ~4%. The top non-US holdings not in the 13F are Roche Holding ( RHHBY ), Deutsche Post AG ( DHLGY ), Heineken ( HKHHF ), United Overseas Bank ( UOVEY ), Nestle ( NSRGY ), TotalEnergies ( TTE ), and Prudential plc ( PUK ). Since inception (1993), annualized returns are at 8.66% compared to 7.32% for MSCI EAFE (Hedged to USD). New Stakes: UniFirst Corp. ( UNF ): UNF is 1.59% of the portfolio position purchased this quarter at prices between ~$148 and ~$219. The stock currently trades above that range at ~$239. Stak...
Thailand’s economy grew faster than expected last quarter, prompting the government to raise its 2026 outlook and bolstering hopes for a gradual recovery despite lingering economic challenges. Gross domestic product grew 2.5 per cent in the October-December quarter from a year earlier, boosted by stronger domestic demand and investment, the National Economic and Social Development Council (NESDC)...
Thailand’s economy grew faster than expected last quarter, prompting the government to raise its 2026 outlook and bolstering hopes for a gradual recovery despite lingering economic challenges. Gross domestic product grew 2.5 per cent in the October-December quarter from a year earlier, boosted by stronger domestic demand and investment, the National Economic and Social Development Council (NESDC) said on Monday. That outstripped annual growth of 1.2 per cent in the September quarter and beat a...
In Malaysia, one question about corruption keeps being asked by the public no matter who is in power: who investigates the investigators? Fresh allegations over the investments of the country’s top anti-corruption official have brought that conundrum back into sharp focus, with critics warning that trust in key institutions – and in Prime Minister Anwar Ibrahim’s reform promises – is on the line. ...
In Malaysia, one question about corruption keeps being asked by the public no matter who is in power: who investigates the investigators? Fresh allegations over the investments of the country’s top anti-corruption official have brought that conundrum back into sharp focus, with critics warning that trust in key institutions – and in Prime Minister Anwar Ibrahim’s reform promises – is on the line. The controversy centres on Azam Baki, chief commissioner of the Malaysian Anti-Corruption Commission...
One fund manager with a global mandate is significantly underweight U.S. assets in favor of the opportunities created in Europe by the reshaping of military and economic alliances
One fund manager with a global mandate is significantly underweight U.S. assets in favor of the opportunities created in Europe by the reshaping of military and economic alliances