Avoid Averaging Down: Stop Compounding Trading Mistakes
The most important trading advice for risk management: Never average down in a losing trade. Don’t compound your errors.
Rising Spreads, Falling
US Corporate Spread "risk" is the inverse of Profit Growth - we remain long High Yield https://t.co/IbOVfjy8fw
German Parents Fund Foreign Buffers, Boosting Own Leverage
When a host country raises its countercyclical capital buffer, parent companies in Germany step in & fully replace the lost funding through internal loans. Parents refinance this support by borrowing more at home — raising their own leverage & default...
Strong Free Cash Flow Fundamentals Boost Gold, Silver Miners
Fundamentals for increasing free cash flow so good for gold and silver miners. $gdx $sil https://t.co/zgUAI5BVoi
RBI Clears Kotak Mahindra’s 9.99% Stake in Federal Bank
The RBI has approved Kotak Mahindra Bank Limited to acquire an aggregate holding of up to 9.99% of the paid-up share capital or voting rights of Federal Bank Limited. Federal Bank received the intimation from the RBI on May 06,...
Revenue Rises, Profit Plummets as Wine Tourism Hits 100 Cr
Sula Vineyards reported Q4FY26 revenue of INR 142.56 crore, up 7.1% YoY, with Wine Tourism crossing INR 100 crore annually for the first time. FY26 consolidated net profit fell to INR 25.65 crore from INR 70.20 crore in FY25, impacted...
Cliffwater Borrows $8.5M, Shows No Distress
Not only is Cliffwater one of the largest private credit fund providers, it is also a private credit borrower. As of Q1, Cliffwater (the GP) has an $8.5 million first lien loan valued at 99. Despite the recent negative media headlines,...
RMR Stable, Fees Resilient—Buy Dips for FY27 Growth
RMR: operationally stable; fee‑earning AUM resilient despite incentive‑fee timing. Adjusted EBITDA steady; 72% payout coverage. Risk: fee timing/REIT sales. Trade: buy dips into FY27 fees 📈 — Viktor Kopylov, PhD, CFA More insights: t.me/si14Kopylov
Oppose Taxing Startup Share Gains as Ordinary Income
Thanks @PaulBassat @sallyannw @bigyahu for continuing to speak up about the devastating impact of potentially taxing startup shares growth like ordinary income. Policy outcomes should always take priority over treating all assets equivalently. https://t.co/ma4v6wdWhS
CIO Ryan Israel Discusses Markets, Geopolitics
Ryan Israel (CIO of Pershing Square) and I had a fireside chat at the Berkshire Hathaway meeting last Friday. We covered the full landscape of the capital markets, geopolitics, Howard Hughes Holdings $HHH, $PS and $PSUS. https://t.co/EKQbHWaVhX
Banks Favor Regulated XRPL, DeFi Likely Delayed
Banks want regulated infrastructure, not chaos. KYC, AML, OFAC compliance on chain. The XRPL delivers that. The DeFi component of the Clarity Act is what Democrats and banks both push back on because accountability is missing there. Scams, no disclosures,...
21shares Debuts First U.S. ETF for Canton Network
JUST IN: 21shares launches TCAN, the first U.S. ETF providing institutional exposure to the Canton Network and its native token.
Justifying Multiples Requires Consensus, Margin Growth, and Sustained Revenue Ramps
I know multiple justification is out the window these days but for these names. $COHR can justify the multiple mostly by hitting consensus and expanding margins. $LITE needs either a higher accepted scarcity multiple or material upside to 2028 revenue....
Winning by Not Negotiating: Lore and Arod Outsmart Taylor
Caveat venditor. How @MarcLore and @AROD got the better of Glen Taylor by… not negotiating at all
Canceling Buybacks Shifts Money From Share Demand to Real‑Economy Investment
I'm told focusing on the shift from share repurchase to capex is a "dumb argument" 101 It most certainly appears dumb if you don't understand the implication. Google cancelled its share repurchase from 60BN per year to zero to...
NVIDIA Commits up to $2.1B for IREN Partnership
JUST IN: NVIDIA and IREN report a partnership, with NVIDIA to invest up to $2.1 billion in IREN.
J.M. Smucker Hires Goldman Sachs, May Divest Hostess
Axios Pro scoop from @Ryanbarwick: JM Smucker hired Goldman Sachs to launch a review of its portfolio. Hostess to hit the block? $SJM https://t.co/bTz1wCRTv8
Premium to NAV Near 1.0x Not the Issue
Oh that's why. It's definitely not because $BMNR's premium to NAV is teetering at/below 1.0x.
Key AI Trends Every Finance Professional Must Track
Here are the #AI developments that finance pros should be tracking by Betsy Vereckey @MITSloan Learn more: https://t.co/MRknXL9jl7 #MachineLearning #ArtificialIntelligence #MI https://t.co/11XgdxwoUP
Turn Your Bank Balance Into Actionable Forecast
May just started and I have two spots open for fractional CFO services. If you're a creative who's been making financial decisions based on your bank balance instead of an actual forecast, that's usually the sign. The missing piece is usually...
Excel Cuts Costs, Boosts Accountant Numbers
"Excel dramatically lowered the cost of financial analysis, reporting and record-keeping, making these services accessible to a far broader range of businesses and use cases. The result has been more accountants, not fewer" 🔥 https://t.co/fWNlNFkyEa https://t.co/9B7F8Mal4s
Open‑source SpaceX IPO Index‑Effect Simulator for Everyone
Ok @GestaltU coded up a simulator for the index-effects of the SpaceX IPO. All references and methodologies sourced. I love the internet. Disagree with my (or his) math? Just change your assumptions: https://t.co/Mt34elu0ZX
Open Ceiling, Volatility Hedging Beats Soft Protection
Most hedged equity funds offer "soft protection" that fails on the way down and caps you on the way up. We spent April proving why an open ceiling and volatility-based hedging is the better way to play market rips. https://t.co/iwoFg5xu7R
Low‑Income Consumers Facing Cash Crunch, CEO Warns
"They’re literally running out of money at the end of the month,” Kraft Heinz Co. Chief Executive Officer Steve Cahillane said in an interview this week. “We’re seeing negative cash flows in the lower-income brackets where they’re dipping into savings" https://t.co/DGHOd4fe9L
Goldman Sachs Says Amazon, Alphabet Inflate S&P Earnings
Goldman Sachs flags Amazon and Alphabet for inflating S&P 500 earnings growth figures $AMZN $GOOGL https://t.co/49fg3hccI3
Dangote to List Cement Empire on London Stock Exchange
Great scoop by @ak_mna and @davidpilling Africa’s richest man Aliko Dangote plans London listing of cement empire. He’s hired Citigroup, JPMorgan Chase and Standard Bank for the IPO, said people briefed about the matter https://t.co/yfFzBFQtpj via @ft
Software Multiple Compression Cuts NAV, Trading Remains Strong
HgT NAV down 5.4% as software multiple compression hits valuations, but underlying trading holds up Read the full report here: https://t.co/cImjwA0IPm https://t.co/5ACIO1hRHX
Turn Cash Flow Forecasts Into Real Hiring Decisions
When a client asks me "can I afford to hire this summer" I can pull up their cash flow forecast and give them a real answer in 10 minutes. That's what I'm building during close week. The monthly numbers feed the...
Pantheon Raises $1bn, Exceeding Private Equity CFO Target
Pantheon closes inaugural private equity CFO above target at $1bn Read the full story here: https://t.co/ST8ZEEgU9h https://t.co/wODadQ0XuM
NY Budget Deal Adds NYC Second-Home Tax, Dilutes Climate Law
New York Governor Kathy Hochul announced a tentative deal on a $268 billion state budget, with legislative leaders agreeing to impose a tax on second homes in New York City and weaken the state climate law https://t.co/zxwzelWz27
Pricing Restraint and Labor Costs Squeeze McDonald's Margins
McDonald's says its company stores were "more restrained on pricing" and invested in labor, which contributed to their margin problems. $MCD
Fast‑food Giants Struggle with Thin Store Margins
McDonald's U.S. company store margins "were not acceptable." The company said it is working to improve performance. BTW Burger King also reported some pretty substandard company store profits. High beef costs hitting pretty hard. $MCD
Rays' "Fully Taxable" Stadium Pays Its Own Bonds
Rays execs calling their mixed-use stadium district "fully taxable," it appears, is misdirection: They'll be paying some property taxes, but they'll be paying them to themselves, to pay off bonds for their own stadium. https://t.co/P8XqUu0ad1
Direct Athlete Payments Outside NIL Trigger Compliance Risks
Direct payments outside of NIL still raise compliance and accounting questions. Can a Participating Institution provide direct payments to athletes outside of NIL? I walk through this in my book NIL 101: The House Settlement Currently 40% off https://t.co/yBVisUkFCL https://t.co/dr6qKrAJqC
Strong Revenue Growth Boosts Confidence in Margin Expansion
"When we generate solidd topline growth, we feel confident about our ability to grow margins over time." -McDonald's CFO Ian Borden. $MCD
Long-Term Spread Makes $50M Fee Boost ROI
ROI is even better than appears, as the $50 million fee is spread out over 10 years.
Seek Uncorrelated Returns to Simplify Risk Management
According to Ray Dalio, the easiest way to adjust for risk is to seek uncorrelated returns. Ray's made billions from a simple idea. Here's how to do it in a few lines of Python code:
Angelini Pharma Acquires Catalyst, Boosts US Rare‑Disease Portfolio
Angelini Pharma buys Catalyst Pharmaceuticals and its rare disease drugs for $4.1B The deal will expand the Italian pharma company’s work in the U.S. https://t.co/BwO6uGKvrT
GAW’s Interim Reports Hint at Upcoming Dividend Announcement
#GAW they only publish these interim interims to demonstrate they have distributable reserves…so a dividend announcement likely incoming https://t.co/EChO0Mfihi
Most Startups Stall at Level 1 Forecasting.
The 4 Stages of Forecasting from BEGINNER to ADVANCED === We asked 9 of the top finance leaders to open their playbooks. They said yes. Spots are limited. I'd grab one. Register for free: https://t.co/P5XyaqkF5g === Which stage is your business at🪜? Every month, I meet with...
Emirates Enters FY2026 Strong Amid Middle East Tensions
Emirates Group says it is entering FY2026/27 from a position of strength despite ongoing geopolitical tensions and volatility in the Middle East. Chairman and Chief Executive of Emirates airline and Group, Sheikh Ahmed bin Saeed Al Maktoum said the group remains...
Geopolitics May Drive Elevra’s Full‑Control Bid
Does geopolitics trump valuation? In a world of FORGE, US-Australia critical minerals alliances and Congressional hearings on Chinese market behavior, will be interesting to see how this unfolds. Key question is what does Elevra do? Stay in a JV with Huayou and...
CNA Acquires Severn Gas Plant for £370M,
#CNA bought the Severn Combined-Cycle Gas Turbine power station for £370m. Built in 2010 and expected to deliver annual EBITDA of £30 - £60 million from 2027, and accretive to EPS from first FY after completion.
Shell Prioritizes Higher Dividends Over Buybacks
Interesting #SHEL has changed emphasis regarding Shareholder Returns with more Dividend and a bit less Buyback. Makes sense after the decent Share Price rises. ShareScope showing fwd Dividend Yield 3.4% rising to 3.6% (and Buybacks on top).
China’s Bad‑Debt Managers Use Bank Stake Gains to Offset Slump
1/4 Caixin: "The results underscore how China’s leading bad-debt managers are leaning on accounting gains linked to state-backed bank stakes to offset the effects of the prolonged property slump and broader economic slowdown." https://t.co/4pXLE9Y3rM
Cash Transaction Set to Close Within 30 Days
Timeline: The cash transaction is expected to close within 30 days of the board's approval on May 7, 2026.
Shell Beats Estimates, Slashes Quarterly Buyback to $3B
BIG OIL 1Q EARNINGS: As everyone else among the majors, Shell also reports quarterly earnings above expectations on the back of high oil/gas prices. But the big news is that Shell has cut is buyback from $3.5 billion in the previous...
Public Bank Leads Malaysian Banking Rally, Earnings Outlook Strong
Malaysian banks up today. Seeing plenty of buying interest. Financial Service index highest since end-March. All banks still below pre-War level (except AM). Best performer is Public Bank +3% to RM4.94, highest in almost 2 months. •1Q earnings release on 12...
Strategic Bitcoin Sales Boost Shareholder Protection and Flexibility
Strategy selling Bitcoin isn't a bad thing. There are differing schools of thought on this topic, but I actually think Bitcoin Treasury Companies should sell Bitcoin when it is warranted. The goal shouldn't be to never sell Bitcoin, but to...
DoorDash Beats Earnings, Stock Soars Amid Revenue Miss
$DASH: +33% revenue growth, +37% GOV growth, and the stock jumped despite a revenue miss DoorDash delivered another strong quarter. Revenue was $4.04B, up 33% YoY, but below the $4.15B estimate. EPS came in at $0.42 vs. $0.37 expected. Marketplace GOV reached $31.6B,...