Core Viewpoint - Microsoft is recognized for rewarding long-term investors through substantial dividends and stock buybacks, positioning itself as a strong investment choice among the "Magnificent Seven" stocks [1][2]. Dividend and Buyback Summary - In fiscal 2025, Microsoft allocated $24.08 billion to dividends and $18.42 billion to stock buybacks, surpassing other S&P 500 companies in total cash spent on dividends [2]. - Microsoft announced a 10% increase in dividends, marking its 16th consecutive annual increase, despite a current yield of only 0.7% [2][3]. - Over the past decade, Microsoft has increased its dividend by over 250%, although the yield has decreased due to a significant rise in stock price [9]. Investment Thesis - Microsoft is characterized as an underrated dividend stock, with a focus on dividend growth rather than just forward yield, which can misrepresent a stock's true income potential [5][8]. - The company is noted for its balanced approach to capital deployment, with a strong presence in cloud computing, AI, software, gaming, and personal computing [11][12]. - Microsoft's commitment to returning capital to shareholders through dividends and buybacks positions it as a foundational stock for long-term investment [16][17]. Financial Metrics - Microsoft has a market capitalization of $3.6 trillion and a gross margin of 68.76%, indicating strong financial health [11]. - The company's free cash flow (FCF) remains robust, with capital expenditures rising but not outpacing cash flow from operations, unlike some competitors [12][15].

Core Insights - The Vanguard S&P 500 Growth ETF (VOOG) focuses on growth stocks within the S&P 500, while the Vanguard S&P 500 ETF (VOO) tracks the entire S&P 500 index [2][10] Cost & Size Comparison - VOOG has an expense ratio of 0.07% and VOO has a lower expense ratio of 0.03% - As of December 17, 2025, VOOG's one-year return is 13.67% compared to VOO's 10.73% - VOO offers a higher dividend yield of 1.12% versus VOOG's 0.48% - VOOG has an AUM of $21.7 billion, while VOO has a significantly larger AUM of $1.5 trillion [3][4] Performance & Risk Comparison - Over five years, VOOG has a maximum drawdown of -32.74%, while VOO's is -24.53% - A $1,000 investment in VOOG would grow to $1,904 over five years, compared to $1,816 for VOO [5] Holdings & Sector Exposure - VOO holds all 505 stocks in the S&P 500, with a sector exposure led by technology at 37% - Top holdings in VOO include Nvidia, Apple, and Microsoft, providing broad market exposure [6] - VOOG focuses on 217 growth-oriented stocks, with a heavier tilt toward technology at 45%, leading to higher returns but also increased volatility [7][11] Implications for Investors - VOOG has delivered higher one-year and five-year total returns but comes with deeper drawdowns and more volatility compared to VOO - VOO is broader, more diversified, and offers a higher dividend yield at a lower expense ratio - VOOG's concentration in growth names may lead to higher returns, but it also results in less diversification [9][11]

Company Developments - IGO Ltd (ASX:IGO) has commenced construction of its new lithium plant at Greenbushes, with a projected capacity of approximately 500,000 tonnes per year of spodumene concentrate [5] - Champion Iron (ASX:CIA) is pursuing the acquisition of Norwegian iron ore producer Rana Gruber for around US$289 million, marking an overseas expansion [5] - Monadelphous has been selected to assist Rio Tinto (ASX:RIO) in building a significant link at the Brockman Syncline iron development in Western Australia [6] - Eminence Minerals (ASX:EMA) has concluded its hearing with the Aboriginal Cultural Heritage Committee regarding two new Aboriginal sites near the Hamersley Iron Ore Project, with findings expected in early 2026 [6] Market Overview - Australian shares are up by 0.5% at the start of the last week of the year, influenced by the upcoming holiday breaks [1] - The major U.S. indices have shown positive performance, with the S&P gaining 0.9%, the Dow Jones advancing 0.4%, and the Nasdaq increasing by 1.4% due to AI-related gains [3] - European markets also experienced gains, with the Eurostoxx up by 0.4% and the FTSE adding 0.6% [3] Commodity Prices - The Australian dollar is trading at 66.1 U.S. cents [7] - Iron ore prices have decreased by approximately 0.4%, now at $104.50 per tonne in Singapore [7] - Brent crude remains stable at $60.47 per barrel [7] - Gold is priced at $4,350 per ounce [7] - U.S. natural gas futures have increased by 2%, reaching $3.98 per gigajoule [7]

From prep-cook to chef The coming is likely to be when Robots serving main course Humanoid robots will enter warehouses and factories for pilot deployments. The first ones out are autonomous cars. Market leader Waymo is providing over 2,50,000 paid trips each week. In 2026, it will expand to 20 more cities. Search served, not searched Search engines will transition to answer engines, as reasoning web emerges. Web traffic to static sites will be affected as AI browsers synthesise answers rather than provid ...

Berkshire Hathaway is parking money in ultra-safe investments.At the end of this year, Warren Buffett is finally retiring after leading Berkshire Hathaway (BRK.A 1.34%)(BRK.B 1.26%) for more than six decades. In that time, Berkshire Hathaway has been one of the stock market's best-performing stocks, and its moves have attracted much investor interest, hoping to mimic its success in some sense.In the third quarter, Buffett and Berkshire Hathaway made some notable moves that leave the next wave of leadership ...

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Core Viewpoint - The "Magnificent Seven" stocks have shown mixed performance in 2025, with varying potential for 2026, leading to a ranking of these stocks from avoid to strong buys [1]. Group 1: Stock Rankings and Performance - Nvidia is ranked as the top stock, expected to continue strong growth due to its position as a primary supplier for AI computing, with anticipated capital expenditures in data centers rising significantly [21][22]. - Alphabet follows, having experienced over 60% growth in 2025, driven by advancements in AI and a strong core business in Google Search, positioning it well for 2026 [17][20]. - Amazon, despite a poor performance in 2025 with only a 3% stock rise, is expected to rebound in 2026, particularly due to growth in its AWS and advertising services [15][16]. - Meta Platforms had a strong 2025 until Q3 earnings, with a 26% revenue increase attributed to AI, but concerns over capital expenditures may impact its performance [13][14]. - Microsoft is positioned for impressive growth in 2026, benefiting from investments in OpenAI and its cloud computing services, with a 14% increase in stock value in 2025 [11][12]. - Tesla is ranked lower due to challenges from the end of EV tax credits and shrinking margins, suggesting it may be wise to avoid this stock in 2026 [7][10]. - Apple ranks last, with stagnant revenue growth and a high stock price relative to earnings, indicating underperformance potential in 2026 [3][6]. Group 2: Financial Metrics and Market Insights - Nvidia's GPUs are in high demand, with expectations of record-setting capital expenditures in the AI sector, indicating a strong market position [21][22]. - Alphabet's market cap stands at $3.7 trillion, with a gross margin of 59.18%, reflecting its robust financial health [19][20]. - Amazon's market cap is $2.4 trillion, with AWS growth at 20% and advertising services at 24% growth in Q4, highlighting its operational strengths [16]. - Microsoft has a market cap of $3.6 trillion and a gross margin of 68.76%, showcasing its profitability and growth potential [12]. - Meta's revenue growth of 26% in 2025 demonstrates its ability to leverage AI, although future capital expenditures remain a concern [14]. - Tesla's margins have declined, impacting its earnings per share, which suggests a need for strategic adjustments [7][10].

Core Viewpoint - Apple stock (AAPL) is considered a long-term buy through dollar averaging, driven by three specific catalysts: the iPhone 17 supercycle, the monetization of Apple Intelligence, and a shift towards high-margin Services [1] Group 1: Catalysts for Investment - The iPhone 17 supercycle is expected to significantly boost sales and market presence [1] - The monetization of Apple Intelligence indicates a strategic shift towards higher-margin services, enhancing overall profitability [1] - The transition to high-margin Services is anticipated to provide a stable revenue stream, further supporting the investment thesis [1]

Core Insights - Beverage mogul Mike Repole warns that entrepreneurship is often portrayed as less risky than it truly is, emphasizing the high likelihood of failure in the early years of a startup [2][3] Group 1: Entrepreneurial Risks - Repole discourages potential entrepreneurs, stating that the first five years are critical survival years where bankruptcy is a constant threat [2] - He highlights his own experiences of uncertainty and failure throughout his career, despite achieving significant successes [3] Group 2: Career Achievements - Repole co-founded Glaceau in 1999, selling it to Coca-Cola in 2007 for $4.1 billion, and later launched BodyArmor in 2011, selling a majority stake to Coca-Cola for $5.6 billion in 2021 [3] - He also chaired Pirate's Booty, growing the company by 300% before its sale in 2013 [3] Group 3: Startup Success Factors - Successful founders focus on the right problems at the right time, demonstrating strong market fit, and executing quickly while learning from customers [6] - Key attributes for thriving startups include customer obsession, team alignment, smart fundraising, and resilience [6]

Core Insights - The Vanguard S&P 500 Growth ETF (VOOG) focuses on S&P 500 growth stocks, while the Vanguard S&P 500 ETF (VOO) includes all S&P 500 constituents, highlighting differences in cost, returns, risk, and portfolio composition that are significant for investors [2] Cost & Size Comparison - VOOG has an expense ratio of 0.07% and AUM of $21.7 billion, while VOO has a lower expense ratio of 0.03% and AUM of $1.5 trillion [3] - The 1-year return for VOOG is 20.87%, compared to 16.44% for VOO, and VOOG has a dividend yield of 0.48% versus 1.12% for VOO [3][4] Performance & Risk Metrics - VOOG has a maximum drawdown of -32.74% over 5 years, while VOO's is -24.53% [5] - An investment of $1,000 in VOOG would grow to $1,945 over 5 years, compared to $1,842 for VOO [5] Portfolio Composition - VOO holds 505 companies across all sectors, with technology making up 37% of the fund, while VOOG has a heavier technology focus at 45%, followed by communication services at 16% [6][7] - The top holdings for both ETFs include Nvidia, Apple, and Microsoft, but these stocks constitute a larger portion of VOOG's portfolio [7] Investment Implications - Both VOOG and VOO are strong ETF options, but their differing goals and portfolio compositions present unique strengths and weaknesses [9] - VOO offers broader sector diversification, which may help reduce volatility compared to VOOG's concentrated tech exposure [9]