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There has been a lot of discussion about the possible U.S. tax obligations for Pope Leo XIV, the first U.S. citizen Pope. Some of the assertions have generated confusion, leaving key U.S. tax concepts insufficiently addressed. One of the biggest areas of misunderstanding has been the Pope’s possible FBAR reporting…
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Tariffs. Inflation. Economic chaos. Bring it on, says Miles Lewis, manager of a portfolio of quirky stocks that, he says, are better equipped than the average stock to weather a tumultuous time in the U.S. economy. Recession? That should send shoppers for sporting goods out of high-class vendors to the down-market chain he favors. Rising interest rates? A steeper yield curve would benefit the venerable savings bank in which Lewis has a stake. Economic uncertainty? That will make it hard for municipalities to sell bonds, so they will be patronizing a bond insurer he likes. Lewis runs $1.5 billion, most…
Week in Review Asian equities were mostly higher for the week after the US and China announced a 90-day tariff pause for negotiations over the coming weeks. Internet earnings season kicked off in earnest this week. JD.com, Tencent, KE Holdings, and NetEase squarely exceeded expectations, while Alibaba missed estimates on its top and bottom line. New loans and aggregate financing for April, reported on Wednesday, came in below expectations, explaining the People’s Bank of China’s (PBOC) decision to cut rates last week. Mainland-listed shares of battery giant Contemporary Amperex Technology (CATL) were up over +6% this week in anticipation of…
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