2bps Fee Cut Propels SPYM to Vanguard‑Level Flows
Wrote today about the Power of One (Basis Point). $SPYM cut its fee to 2bps, making it the cheapest of the 4 SPX ETFs by just 1bp and BOOM, hockey stick aum growth after a decade in oblivion. It is 2nd to only $VOO in YTD and 1yr flows, has $116b aum, and is looking to avenge the dethroning of $SPY. Even Betterment, who LOVES Vanguard ETFs, sold out their VOO for SPYM, which is now their SPX ETF of choice. Stuff like this is exactly why we call it The Terrordome.
Turn Corrections Into Liquidity: Gold, Bitcoin, Equities Rise
With stocks and bonds positively correlated again (but in the wrong direction), there’s a bit of 2022 déjà vu right now. Back in 2022 as the cost of capital reset after years of ultra-low rates, the 60/40 model broke down...
Three-Year Bull Markets Often Last a Fourth Year
Bull markets that reach a third year typically extend into a fourth. @soberlook Fisher Investments https://t.co/EGLX7QmA3x https://t.co/sBX0mRXRR7
New Rating Reports Reveal Exact Entry Prices
My Brand-New Rating Reports Are LIVE I’ve just released my Fundamental Entry-Price Analysis on 21 stocks. Complete with my exclusive Buy • Watchlist • Reject Framework. No more guessing. Clear Expected Value (EV) targets show you the exact best price to enter every...
Investors Prioritize Earnings, Not Short‑Term Market Noise
What matters in the short run: -Wars -Oil prices -Tariffs -Interest rates -Sentiment -A million other things What matters in the long run: -Earnings Speculators focus on the short run. Investors play the long game. https://t.co/u1oZkcMGCY
Hold ESCO $ESE: 10X Growth, Multi‑Sector Resilience
In this week's edition of Friday Hidden Stars... ESCO $ESE is now a 10X rolling out the wayback machine today... but continues to thrive, get a combo of Aero/Defense (Navy), Utility (Grid/Electricity) and RF Test This is also a reminder....find...
Know Fundamentals or Treat Stock Picking as Gambling
Buying stocks = gambling? For some people, yes. For others, no. If you understand what you’re buying and why, it’s not gambling. But if you’re buying stocks without knowing how to read a balance sheet or what a P/E ratio is, it is gambling. If...
Mears Boosts Dividend, Signals Strong Cash Flow
Mears proposes 9% FY25 dividend increase to 17.5p — shows free-cashflow strength from govt contracts. Risk: contract renewals & cost inflation. Trade insight: buy on modest pullbacks. 📈 — Viktor Kopylov, PhD, CFA. More insights: t.me/si14Kopylov
MediClin Posts Modest 2025 Growth; Watch 2026 EBIT
MediClin: 2025 revenue +4.8% to €784.5m, EBIT +3.5%. Drivers: post‑acute growth, stable occupancy; acute fell after Heart Centre sale. Risk: narrow 2026 EBIT range. Buy, watch 2026 EBIT. — Viktor Kopylov, PhD, CFA. More insights: t.me/si14Kopylov
Productivity‑Led Boom Still Likely, War Sparks Stagflation Fears
YARDENI RESEARCH CHART OF THE DAY (March 26, 2026) We've been betting on the productivity-led Roaring 2020s. That's still our 60% base case. So far, this scenario has been on the money. However, the war has increased the risks of a...
Unlock Japan’s Investment Secrets: 10 Key Questions Answered
This morning was for content creation. Watch this space for my filmed answers to the big 10 questions 😅 - What is the downside to following the crowd in the stock market? - How can you create your own upside in stocks? - What...
Master One Business Inside Out to Invest Wisely
Li Lu on how to become a great investor "Start learning from the best - listening, studying, and reading. The best way to do it is to study one business inside and out for the purpose of making the investment."
Quality Stocks Need Patience: 20‑year Gains, Short‑term Pain
I just had several days at a planning conference where several presenters discussed the long-term reliability of selecting quality stocks that showed resilience regardless of economic conditions, fiscal stimulus or inflationary environments. Example below of a popular concentrated portfolio of high-quality...
Quality Businesses Create Value Even without Market Hype
"A high-quality business compounds intrinsic value even when the stock is ignored." Most investors chase attention, smart investors build value.
Terry Smith’s Data‑Driven Calm Amid AI Hype
Terry Smith is currently the favorite punching bag of the investing world. After a period of underperformance, his "Quality" strategy is under heavy fire. But if you actually listen to the 2026 AGM, you’ll find one of the most rational voices...
Diversification Cost Driven by Funding, Not Strategy
"If You Can't Beat 'It, Stack 'It" Quantica's latest on why the cost of diversification depends on how you fund it, not the diversifier itself. Worth your time. https://t.co/w7oKWKy3Ot
NVDA 15x, MU 4x: Historic AI Investment Opportunities
$NVDA at ~15x and $MU at ~4x Forward EPS. Unless AI is being canceled (it is not) these sure will be seen as historic opportunities at some point 👏🏻
KLAR's Efficiency Gains Outshine Loan Loss Concerns
Investors focus too much on $KLAR loan losses provisions because of strong loan volume growth. They should focus more on $KLAR becoming a more efficient business by improving operating leverage. - Revenue per employee 3.6x from $344K to $1.24M. - The number of...
AI Boom Persists Despite Market Stress, Not a Bubble
The Mag 7 notwithstanding, the AI playbook (led by memory stocks and data centers, with software lagging behind) has not been materially impacted by the stress in the broader market. To me this strongly suggests that the AI boom continues...
Long‑term Market Favors Gains: Up Years Outnumber Down Years
Some say the stock market is rigged. If anything, you could argue it is rigged to go higher over the long run. Yes, down years happen, but big down years relative to big up years are quite skewed. You...
Agency Costs Silently Erode Your Investment Returns
Agency costs can quietly drain your portfolio. As Charlie Munger explains, both self-serving executives and poor decision-makers can hurt long-term returns. Learn smarter stock analysis and build wealth with better investing strategies. Most investors ignore this silent portfolio killer—and it’s costing...
Mag 7 Correction Boosts Near‑term Earnings Appeal
The Mag 7 has continued to be supported by strong earnings growth, and in the chart below one could make a compelling case that the M7 have corrected enough, as the price index has gone from hugging the earnings forecast...
Board's $400M Buyback Matches Six Years' Spend in 90 Days
From "Trying To Be Realistic" (03/09/26): "The Board approved a $400 million repurchase authorization in October 2025, which was completed in three months. The value of repurchase spend over this 90-day period was equal to the total over the previous...
Software Valuations Crash: Multiples Plummet, Reset Underway
Software still getting crushed today… and look at this: 52-week drawdowns + valuations: $NOW → 25x P/E $INTU → 18x $ADBE → 10x $CRM → 14x $FICO → 25x $UBER → 21x These were “expensive” not long ago. Now? The reset is real.
Hims Remains a Reject at $23 Despite Upgrades
Deep Dive Full Thesis - Is HIMS a BUY now at $23? Hims Just Partnered with Novo Nordisk After Being Sued by Them + SEC/DOJ Probes — Why My Full Analysis Still Says REJECT at $23 It’s at 21 now… Recent Institutional Rating...
Profitable Stocks Outperform Unprofitable Ones, Says Sonders
This year, unprofitable stocks are being "handily" outperformed by profitable stocks (a reversal of 2025). "In this environment, profitability is a focus for us." Full interview with @LizAnnSonders: Apple🔊https://t.co/2dDJ3eD1p7 Spotify📽️https://t.co/gSpDwqSJC9 https://t.co/NnPYzIrC1l
US Stock Market Among Least Concentrated Globally
You think the S&P 500 Index is too concentrated? Try going to another country for a while. The US is one of the *least* concentrated markets. Here's countries ranked by the % of market made up by top 10 biggest...
Midcap Portfolio Ending Q1 as Smallcap: Style Drift?
Is it considered style drift if a midcap portfolio ends 1Q as smallcap? Asking for a friend.
Analyst Targets Mirror Price, Not Fundamentals—Do Your Own Analysis
Are You Still Holding $SOFI? Revealing Wall Street Retail Trap that nobody talks about I just dove deep into the classic Wall Street Retail Trap that’s burned almost every investor at some point. After analyzing 44 analyst reports, here’s the brutal finding: Their price...
Survive Markets by Controlling Position Size and Cutting Losses
Most people don’t lose money from bad stocks. They lose from bad positioning. Position size controls survival. Entries control conviction. Bull market: Go heavy → 📈 Bear market: Stay light + cut fast → 🛡️ Over a full cycle: Survive → Then win. The biggest mistake? Refusing to take a loss. That’s...
Simple Three‑Tier Kids Portfolio for Market Volatility
My kids' portfolio for 2026: 30% Staples — boring ETFs. Don't think. Just automate. 40% Mature Growth — $NVDA $TSM $META $AMZN $GOOG $NFLX $MS $GS 30% High Growth — $PLTR $APP $HIMS $CRDO $SHOP $UBER No high risk tier for kids. Three tiers...
Small‑cap Russell 2000 Outpaces Nasdaq—Real Rotation
Everyone is watching the Nasdaq. Nobody is watching small caps. The Russell 2000 is up over 1% year-to-date. The Nasdaq 100 is down nearly 5%. That's a 6-point gap — and it's barely being discussed. Small caps don't outperform like this by...
HeyDude Turnaround Likely Suboptimal, Management May Resist Admission
From the $CROX initiation: "HeyDude’s turnaround efforts will require attention and investment; there’s a good chance it will be a suboptimal use of those resources... Even if that becomes apparent, I don’t think it will be easy for management to...
Earnings Growth Offsets Falling P/E, Signals Healthy Market
If that reset continues, we could get a 2022 “echo,” in which equities correct entirely on the basis of falling P/E’s, while earnings continue to grow. Remember that stock prices are driven not only by earnings and payouts but also...
Buy Quality Blue‑Chip Stocks on Sale Now
Always a pleasure talking with @SquawkCNBC and @BeckyQuick. Trying to think longer term to buy quality companies on sale. $NFLX $UNP $SNPS $DOV $ANFGF $MS
Predicting Corrections Costs More Than Corrections
Including dividends, the S&P 500 has gained over 1,200% since the March 2009 low, despite 32 corrections >5%. “Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.”...
Seek Uncorrelated Returns to Reduce Risk, Dalio Shows
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:
Discipline vs Ego: Know When to Let Go
There's a fine line between conviction and denial. Holding on when the thesis is intact? That's discipline. Holding on because admitting you're wrong hurts? That's ego. The facts don't care which one it is. Your portfolio doesn't either.
Profits Rise While S&P Prices Drop: Look Past Pain
"The profit outlook for S&P 500 companies has been improving even as share prices have fallen - a dynamic rarely seen during episodes of geopolitical uncertainty ... The setup has historically rewarded investors willing to look through near-term pain." -Bloomberg
CTRI Poised for Comeback with 30% IRR Target
$CTRI is a broken spin-off staging a comeback - Parent $SWX fully exited; 80% supply overhang is gone - Pure-play exposure to grid load growth and gas infrastructure - DD organic growth + long roll-up runway - Implied 30% IRR with a target of...
Midcaps Outperformed Nifty, Signal Strong Recovery Opportunity
Midcap stocks continued to outperform the Nifty all through the crisis. This is a strong signal that, as markets recover, Midcaps will deliver returns. It also shows strength in the market internals for the given period, a strong signal that...
Patience Beats Data: Markets Reward Long-Term Discipline
"Patience captures the value that spreadsheets underestimate." Spreadsheets don’t reward patience—but markets do. Most investors overestimate short-term signals and underestimate long-term compounding. The real edge isn’t in more data, it’s in discipline.
S&P 500 Forward EPS Hits Record $332, SMIDs Surge
S&P 500 forward EPS a record high of $332 SMIDs also yodeling higher over the last six months @yardeni https://t.co/BfA01cKlKd
Meta's Sub‑20x PE Signals Cheap Growth Bet
$META forward PE has dropped below 20x It's quite cheap given the growth it has been able to maintain. You're getting for free these bets: Oculus / Wearables / AI. Not as compelling as Google's 2025 stock price when you got...
Small Caps Outperform Big, Ratio Hits Century‑High
Over the last century the smallest stocks (green, LHS) have beaten the biggest stocks (red, LHS) by six times (blue, RHS). But not in a straight line. The market has cycled. And the cycles were long. The blue line shows the...
Quality Factor's Historic Underperformance Poised for Sharp Reversal
Try to remember that just 3 months ago we were in the middle of the most bizarre underperformance by the Quality factor this century. Almost 1999 on the performance gap. Historically, when this chart snapped, it snapped hard the other...
Excitement Costs Returns; Prioritize Value and Patience
In stock market investing, chasing excitement often destroys returns. Charlie Munger reminds us that smart investors focus on what truly adds value, compounding, patience, and clarity, rather than unnecessary risks or short-term wins. Excitement is expensive in the stock market.
Five Essential Investor Lessons Amid Market Turmoil
With everything happening out there, it is easy to get swept up in all the emotion. In our latest @CarsonResearch blog, I take a step back and look at 5 lessons all investors need to know. https://t.co/B5u4UhzmLw
Small‑Cap Earnings Rebound, Valuation Discount Sparks Appeal
Small-cap earnings growth is continuing to rebound, at the same time small-caps trade at a valuation discount to large-caps. Mike Wilson (@MorganStanley) explains why he likes small-cap stocks today. https://t.co/VmR4Wvtf8K https://t.co/DyiuOw4Nl4
BDC's Top Holding: SpaceX Stock at 30% Discount
Wait until they find out that a certain BDC’s largest position is SpaceX stock and its trading -30% below NAV