Core Viewpoint - The analysis maintains a strong buy recommendation for Meta Platforms Inc. (META), emphasizing confidence in the company's advertising capabilities despite recent market rallies [1]. Group 1: Company Performance - The company is recognized for its effective advertising engine, which is believed to drive significant growth and profitability [1]. Group 2: Investment Strategy - The investment approach focuses on identifying high-potential opportunities with a favorable risk-reward ratio, aiming for a minimum upside potential of 3-5 times the downside risk [1]. - Emphasis is placed on leveraging market inefficiencies and contrarian insights to maximize long-term compounding while safeguarding against capital impairment [1]. - A 2-3 year investment horizon is adopted to endure market volatility, highlighting the importance of patience, discipline, and intelligent capital allocation for achieving substantial returns over time [1].

Financial markets churned on Friday as investors tried to figure out what President Donald Trump’s new nominee to lead the Federal Reserve will mean for interest rates.U.S. stocks fell, with the S&P 500 down 0.4% after sinking as much as 1.1% earlier in the day. The Dow Jones Industrial Average dropped 179 points, or 0.4%, and the Nasdaq composite lost 0.9%.The value of the U.S. dollar rallied, but only after swiveling a couple times following Trump’s nomination of Kevin Warsh. And some of the wildest actio ...

Core Viewpoint - Apollo Commercial Real Estate Finance (ARI) plans to sell its loan portfolio to Athene, which is expected to be a transformational deal aimed at addressing the valuation gap between ARI's market price and the intrinsic value of its assets [4][10]. Financial Details - The transaction is expected to deliver approximately $1.4 billion of net cash to ARI [1][7]. - After the repayment of most financing facilities and transaction expenses, ARI anticipates a common equity book value per share of about $12.05 [2][7]. - The purchase price for the loan portfolio is set at 99.7% of total loan commitments, excluding two loans with a principal balance of $146 million [3][7]. Strategic Implications - The sale is designed to close a long-standing valuation gap, as ARI's stock has traded at an average of about 0.76 of net book value for several years [9][11]. - Management plans to evaluate commercial real estate-related strategies to unlock additional value, including potential M&A opportunities [12][13]. - If no new asset strategy is identified by year-end, ARI's board may explore all strategic alternatives, including dissolution [14]. Governance and Transaction Process - The transaction has been approved by ARI's board following a recommendation from a special committee of independent directors [15]. - A 25-day go-shop period will allow for additional interest in the portfolio before a stockholder vote [17][18]. - Apollo has agreed to a 50% reduction in ARI's annual management fee and will reimburse up to $10 million of transaction expenses [16].

Group 1 - President Trump nominated Kevin Warsh to succeed Jerome Powell as Chair of the Federal Reserve, leading to a decline in Bitcoin prices below $83,000 [1] - Warsh's reputation as an inflation hawk and strong-dollar advocate suggests that his leadership could significantly alter market interpretations of Federal Reserve policy signals [2] - The announcement from Trump dampened expectations for rapid rate cuts, resulting in a spike in the dollar while precious metals and cryptocurrencies experienced sharp declines [3] Group 2 - Bitcoin has broken below the critical 2-day 200 EMA and SMA, which historically serve as support during bull markets [4] - Following a countertrend rally of approximately 21% to 22%, Bitcoin faced rejection in a heavy resistance zone between $95,500 and $106,800 [5] - A failure to reclaim these moving averages may indicate a shift into a more aggressive bearish phase, with a breakdown below the $79,000 to $80,000 support range potentially confirming a downtrend towards $75,000 to $70,000 [6] Group 3 - Momentum and money-flow indicators for Bitcoin remain weak, characterized by declining spot volume and reduced whale participation, limiting the likelihood of a sustained upside move in the near term [7]

Core Insights - The article discusses strategies for Roth IRA conversions, particularly during market downturns, to minimize tax liabilities and maximize tax-free growth potential when markets recover [1][3]. Group 1: Roth IRA Conversions - Converting to a Roth IRA while asset values are low can lead to lower tax bills on the conversion amount, with potential for tax-free growth as markets rebound [1]. - It is advisable to work with an accountant or financial adviser during the Roth conversion process to navigate complexities [1]. - Roth conversions increase adjusted gross income, which can impact Medicare premiums and Social Security taxation [2]. Group 2: Tax Planning Strategies - Individuals should estimate total income, including Social Security, pensions, dividends, and capital gains, to determine their federal tax bracket for 2026 [4]. - Retirees are encouraged to start planning for their 2026 tax bill now, as strategic planning can help reduce future tax liabilities [5]. - It is recommended to convert just enough funds from traditional retirement accounts to stay within the 12% tax bracket [2]. Group 3: Required Minimum Distributions (RMDs) - Skipping RMDs can result in significant tax penalties, with penalties ranging from $1,160 to $2,900 [8]. - RMDs are mandatory withdrawals for individuals aged 73 and older, with specific rules on timing and amounts [9][10]. - Automating withdrawals and consulting with accountants can help manage RMDs effectively [11]. Group 4: Charitable Contributions and Deductions - Qualified Charitable Distributions (QCDs) allow individuals to donate up to $111,000 from their traditional IRA directly to charities, reducing taxable income [15]. - The standard deduction for tax year 2026 will increase to $16,100 for single filers and $32,200 for married couples filing jointly [16]. - Utilizing the higher SALT deduction limit of $40,000 can significantly impact taxable income, especially for retirees in high-tax states [18][19].

Core Viewpoint - Costco is a leading player in the retail sector, showing significant investment returns over the past decade, outperforming the S&P 500 index [1][2]. Group 1: Investment Performance - Over the past 10 years, Costco has produced a total return of 682%, meaning a $100 investment would be worth $782 today [1]. - Costco's current market capitalization stands at $417 billion, with shares trading at a price of $940.10 [3][4]. Group 2: Business Fundamentals - The company has expanded its global presence with over 900 warehouses, leading to increased merchandise sales and a larger membership base [2]. - Costco is experiencing higher net income due to its growth in warehouse numbers and customer loyalty [2]. Group 3: Stock Valuation - Costco's shares are currently considered expensive, with a price-to-earnings ratio of 52, suggesting that investors should wait for a pullback before considering an investment [4].

分组1 - The article discusses Celestica Inc. (NYSE: CLS) and its strong performance in the AI sector, highlighting its double beat and raise performances [1] - The management of Celestica provided an outsized preliminary guidance for FY2026, indicating confidence in future growth [1] 分组2 - The analyst expresses a beneficial long position in shares of major tech companies, including GOOG, AMZN, CRWV, and META, suggesting a positive outlook on these stocks [2] - The article emphasizes the importance of conducting personal in-depth research before making investment decisions, acknowledging the inherent risks involved [3]

Group 1 - The article discusses the impact of bias and fear on investment decisions, suggesting that these factors can cloud judgment in investing [1] Group 2 - Rida Morwa, with over 35 years of experience in investment and commercial banking, leads the Investing Group High Dividend Opportunities, focusing on high-yield investment strategies with a targeted safe yield of +9% [2] - The service offers features such as a model portfolio with buy/sell alerts, preferred and baby bond portfolios for conservative investors, and regular market updates [2] - The philosophy of the service emphasizes community and education, advocating that investors should not invest alone [2]

Core Viewpoint - Advanced Micro Devices (AMD) had a strong performance in 2025, with a stock increase of 77.3%, but faces questions about its ability to maintain this momentum in the AI sector in 2026 [1][3]. Company Performance - AMD's stock price rose approximately 121% over the past year, reflecting increased demand for its AI products, particularly the Instinct AI accelerators [4]. - The company reported a revenue growth of 36% year-over-year, reaching $9.2 billion, surpassing analyst expectations of $8.7 billion, with adjusted earnings per share of $1.20 compared to the estimated $1.16 [7]. - AMD's fourth-quarter guidance anticipates revenue of $9.6 billion, projecting a full-year revenue of $34 billion, which would represent a 31% growth rate [8]. Market Position and Growth Potential - The AI chips market is projected to grow at a compound annual growth rate (CAGR) of 15.7%, reaching $565 billion by 2032, indicating significant growth opportunities for AMD despite Nvidia's dominance [10]. - AMD's smaller market cap compared to Nvidia is viewed as advantageous, providing a substantial growth runway for the company [9]. Analyst Sentiment - A consensus among 43 analysts rates AMD stock as a moderate buy, with an average score of 4.4 out of 5, and a high target price of $380, suggesting a potential upside of 50% from its current price [11]. Competitive Landscape - AMD's strategy does not require it to surpass Nvidia in market cap; it simply needs to continue its current trajectory to remain competitive in the AI sector [6]. - The company has transitioned from being a late entrant in the AI market to a rapidly growing contender, with the potential to become a leading AI stock by 2026 if it successfully carves out its niche [12].

Core Viewpoint - International stocks are experiencing a resurgence, with ETFs like the iShares Core MSCI Total International Stock ETF (IXUS) outperforming the S&P 500, indicating a potential shift in investment focus for 2026 [1][2]. Group 1: Performance of International Stocks - In 2025, international stocks outperformed domestic stocks for the first time in a long period, with many ex-U.S. ETFs significantly beating the S&P 500 [1]. - The iShares Core MSCI Total International Stock ETF (IXUS) has increased by 7.5% year to date, while the S&P 500 has only gained 1.9% [1]. Group 2: Small Cap Stocks - The resurgence of international stocks includes smaller stocks, with the Avantis International Small Cap Value ETF (AVDV) being highlighted as a top choice for 2026 [2]. - The Avantis ETF has outperformed U.S. small-cap value indices over the past five years, indicating its effectiveness in the small-cap space [3]. Group 3: Fund Characteristics - The Avantis International Small Cap Value ETF is actively managed, which is advantageous in the less efficient small-cap market, particularly for international stocks that receive less attention from U.S. investors [4]. - The fund has a significant geographic allocation, with 32% of its portfolio in Japanese small caps, which are viewed as undervalued and potentially benefiting from Japan's economic policies [5]. - The Avantis ETF has a total asset size of $17 billion and an annual expense ratio of 0.36%, making it a cost-effective option for investors [6].