Memorial Day weekend marks the unofficial start of summer, offering the perfect opportunity to curate your summer reading list. As the days grow longer and vacation plans take shape, there’s no better time to expand your financial knowledge with some of the most influential investment books ever written. As Benjamin Franklin wisely noted, “An investment in knowledge pays the best interest.” This timeless advice rings especially true in the world of finance and investing. Charlie Munger, Warren Buffett’s longtime business partner, echoed this sentiment when he observed, “In my whole life, I have known no wise person who didn’t read…

Harvard University’s $53.2 billion endowment, the largest in higher education, is offloading $1 billion in private equity stakes, a move advised by Jefferies Financial Group and potentially involving Lexington Partners as a buyer, according to Reuters. This seismic shift in the Ivy League’s financial strategy comes amid a broader trend of elite universities unloading illiquid assets. While this may seem like a golden opportunity for retail investors to access the once-exclusive world of private equity, the reality is far more cautionary. As large institutions like the Harvard and Yale endowments seek liquidity and a reduction in private equity investment, it…

Key News Asian equities were risk-off due to President Trump’s budget, which, according to the WSJ, is expected to increase the deficit by $2.7 trillion over the next decade. The US 30 Treasury bond yield has risen from a September 2024 low of 3.92% to 5.14% this morning, while the Japanese Treasury bond yield has risen from 2% to 2.97% over the same period. James Carville’s reincarnation quote as the bond market comes to mind: “You can intimidate everybody.” Based on my recent travels to Europe and Asia, one shouldn’t expect much sympathy or appetite for US investments from foreign…

Stocks will begin Thursday modestly lower after an ugly downside reversal the previous session. Don’t overanalyze what is happening. Bond traders are putting pressure on President Trump to provide clarity on trade, taxes, and inflation. Bond traders always win. Since early April, I have been writing about the importance of a 4.6% yield for the 10-year Treasury note. This benchmark sets the tone for mortgage rates and other consumer credit lending trends. Higher rates are bad for the economy, end of story. Fixed income traders, often called bond vigilantes, are forcing interest rates higher because they believe government borrowing is…

In trading on Wednesday, shares of Alphabet crossed above their 200 day moving average of $170.86, changing hands as high as $171.73 per share. Alphabet Inc shares are currently trading up about 4.6% on the day. 10 Stocks Crossing Above Their 200 Day Moving Average » The chart below shows the one year performance of GOOGL shares, versus its 200 day moving average: Looking at the chart above, GOOGL’s low point in its 52 week range is $140.53 per share, with $207.05 as the 52 week high point — that compares with a last trade of $172.52. The GOOGL DMA…

Q1 Earnings Reports Baidu Search giant Baidu (9888 HK, BIDU), which has AI ambitions, released its Q1 financial results after the Hong Kong close today. Revenue increased by +3% to RMB 32.45B ($4.47B) from RMB 31.50B and versus expectations of RMB 31.00B. Baidu Core (Search) revenue increased by +7% to RMB 25.46B ($3.51) from RMB 23.80B. Adjusted Net Income fell by -8% to RMB 6.47B ($891mm) from RMB 7.01B and versus expectations of RMB 5.04B. Adjusted EPS fell by -7% to RMB 18.54 ($2.55) from RMB 19.19 and versus expectations of RMB 14.97. Full Truck Alliance Full Truck Alliance (YMM…

There are at least 919 different All Cap Value mutual funds and at least 5,732 mutual funds across twelve styles. Do investors need 477+ choices on average per style? How different can the mutual funds be? Those 919 All Cap Value mutual funds are very different. With anywhere from 14 to 957 holdings, many of these All Cap Value mutual funds have drastically different portfolios with differing risk profiles and performance outlooks. The same is true for the mutual funds in any other style, as each offers a very different mix of good and bad stocks. All Cap Value ranks…

Demand for chicken has been rising for decades, and it is currently the most consumed protein across the globe. Health benefits and affordability have driven much of the demand, while the beef market has struggled with low cattle stock, rising prices and falling demand. Without a beef operation to drag down profits, this leading chicken producer benefits from the fast-growing market while maintaining profitability and generating cash. Pilgrim’s Pride (PPC) is this week’s Long Idea. PPC offers favorable Risk/Reward based on the company’s: growing sales across all business segments, rising chicken and pork demand, best in class profitability, and cheap…

We need to talk about one dividend grower that’s set to win big from this sudden breakout of tariff peace. It’s an all-American stock that’s “dirt” cheap now. I’m talking about CF Industries (CF), a holding of my Hidden Yields service. CF makes fertilizers and is the world’s largest maker of ammonia, a key ingredient of fertilizer. How do we know CF is primed to win as China and Uncle Sam take a breather? We’re quite literally following the money here: CF’s management team is piling in with huge stock buybacks—to the tune of 20% of the company’s “float” over…

Moody’s announced a change in its view of the U.S. Treasuries credit rating, with a downgrade from AAA to Aa1 on May 16. This follows other Nationally Recognized Statistical Rating Organizations (NRSRO), namely S&P and Fitch Ratings, who downgraded the U.S. Treasury debt to AA+ in 2011 and 2023, respectively. This downgrade does not come as much of a surprise to those who monitor U.S. Treasuries because Moody’s had them on credit watch negative since 2023. Perhaps the real surprise with this recent announcement is the timing—during the final stages of federal budget negotiations. To be clear, the downgrade by…