Alberto holds a Master's degree in Business Economics. During his academic career he acquired an extensive managerial and economic background, with a solid quantitative basis. He covers all sectors and the different types of stocks. Essentially describes a useful investment strategy that fits the profile of any investor, whether they are dividend investors or interested in a value proposition or growth opportunity.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the ...

Investment Plans - Enel has announced plans to invest €53bn ($63bn) between 2026 and 2028, marking a €10bn increase from its previous three-year plan [1] - Half of the capital expenditure will be allocated to power grid infrastructure, while approximately 38% will be directed towards renewable energy projects [1] Earnings and Shareholder Returns - The management expects earnings per share (EPS) to increase from an anticipated €0.69 in 2025 to between €0.80 and €0.82 by 2028 [2] - Enel plans to raise its dividend by an average of 6% per year through 2028 [2] - A share buyback programme worth up to €1bn has been approved, set for execution by July, following earlier authorization for up to €3.5bn [2] Geographic Focus and Strategic Vision - The majority of new grid investments will occur in Italy, with additional allocations planned for Iberia and Latin America [3] - Enel Group CEO Flavio Cattaneo emphasized the ambitious strategic plan aimed at accelerating growth through increased greenfield and brownfield investments [3][4]

When investing, you'll make far more money from a great entrance strategy than a great exit strategy. ...

Core Insights - The article discusses strategies for minimizing tax burdens as a means to build wealth, emphasizing that tax avoidance is a crucial skill for wealth accumulation [2][3][4] Tax Strategies - Scott Galloway highlights the importance of reducing tax bills to build wealth, suggesting that wealthy individuals often employ strategies such as buying stocks and borrowing against them instead of selling [7][8][9] - The "buy, borrow, die" strategy allows investors to maintain asset growth while avoiding immediate tax liabilities, as they can leverage their investments without triggering capital gains taxes [8][9] Real Estate Investment - Real estate is presented as a powerful wealth-building tool, with strategies similar to those used in stock investments, such as leveraging debt to acquire properties while benefiting from tax deductions on interest payments [14][15] - Robert Kiyosaki exemplifies this approach, claiming to own significant real estate assets while legally minimizing his tax obligations [14][15] Investment Platforms - New investment platforms like Arrived and mogul enable individuals to invest in real estate with lower capital requirements and without the burdens of traditional property management, allowing for fractional ownership of rental properties [18][19][20] - These platforms offer opportunities for passive income and potential appreciation, making real estate investment more accessible to a broader audience [17][18] Financial Advisory Services - The article suggests consulting financial advisors to tailor investment strategies based on individual financial situations, emphasizing the importance of personalized advice in navigating complex tax and investment landscapes [23][24][25][26]

Core Insights - A broad investment strategy focusing on infrastructure in developed markets can provide U.S. investors an opportunity to align with economic trends at a lower price/earnings valuation compared to other sectors [1] Group 1 - The strategy emphasizes the potential for infrastructure investments to yield returns that are more favorable than traditional equity markets [1] - U.S. investors can benefit from the economic growth in developed markets through infrastructure investments, which may be undervalued [1] - The approach allows for diversification and risk mitigation by tapping into the stable cash flows associated with infrastructure assets [1]

Financial Data and Key Metrics Changes - Getty Realty reported an annualized base rent growth of nearly 12% in 2025, with AFFO per share increasing by 5% in Q4 and 3.8% for the full year, reaching the high end of the earnings guidance [6][20] - For Q4 2025, AFFO per share was $0.63, FFO was $0.64, and net income was $0.45 per share, while for the full year, AFFO per share was $20.43, FFO was $20.34, and net income was $1.35 per share [20][21] - The G&A ratio, excluding stock-based compensation and non-recurring costs, was 9.5% for 2025, showing a 10 basis point improvement over 2024 [22] Business Line Data and Key Metrics Changes - The company invested approximately $270 million in 2025, with a focus on diversifying its portfolio, including a $100 million sale-leaseback for a convenience store portfolio [7][8] - Investments in the collision repair sector amounted to $82.5 million for the construction of new collision centers, with expectations for openings in 2026 [8] - The company also invested nearly $40 million in drive-through quick service restaurants, representing about 15% of its investment activity for the year [9] Market Data and Key Metrics Changes - Over 75% of Getty's 2025 investment activity was concentrated in the top 100 markets in the U.S., with increased exposure to cities like Atlanta, Dallas, and Houston [9] - The portfolio included 1,169 net lease properties with a 99.7% occupancy rate and a weighted average lease term of 9.9 years [13] Company Strategy and Development Direction - Getty Realty aims to accelerate its growth trajectory by expanding relationships and refining processes through data-driven analysis [11] - The company is focused on diversifying its portfolio, with nearly 30% of annual base rent now derived from non-convenience and gas properties [19] - The management transition, with RJ Ryan succeeding Mark Olear as Chief Investment Officer, is expected to support the execution of growth plans [12] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the investment pipeline, with $100 million under contract and a strong start to the year [30] - The company anticipates maintaining a healthy investment pipeline, with expectations for continued sourcing of actionable opportunities [10] - Management noted that the tenant health remains strong, with a portfolio occupancy of 99.7% and full rent collections [55] Other Important Information - The company has a pro forma liquidity position of over $500 million, which includes cash and availability under its revolving credit facility [25] - The company reaffirmed its AFFO per share guidance for 2026 in the range of $20.48-$20.50, excluding prospective investment activities [25] Q&A Session Summary Question: Can you provide more detail on the $100 million investment pipeline? - The CFO indicated that about 80% of the pipeline is focused on auto service properties, with the majority being development funding [29] Question: Do you think you can do more investment volume this year relative to last year? - Management expressed optimism about the current pipeline and noted that they are already above 25% of last year's underwriting volume [30][31] Question: Can you speak about the cadence of the $100 million? - The CFO explained that about 20% of the pipeline consists of regular acquisitions expected to close in 60-90 days, while development funding will be deployed over the next 12 months [34] Question: What is driving the increased emphasis to potentially sell? - Management noted that the team is actively sourcing opportunities and that the selling pool appears more active, contributing to the increased emphasis [39][40] Question: Can you provide color on the dispositions of the 7 properties sold in Q4? - The CFO mentioned that some properties were sold back to existing tenants, and others were disposed of for tactical reasons [63][64]

Investment Strategy - Retirees should keep their money invested strategically rather than shifting entirely to stable investments like bonds, as this could limit portfolio growth and increase reliance on principal withdrawals [1] - A conservative investment approach yielding only 2.5% to 3% annually may necessitate significant principal withdrawals to meet income needs [2] - A balanced portfolio with conservative assets and income-producing investments like dividend stocks and high-yield ETFs could achieve returns of 5% or higher, potentially allowing retirees to meet income needs without heavily touching principal [3] Spending Flexibility - Adjusting spending during market downturns is crucial, as withdrawing from a declining portfolio locks in losses [4] - Building flexibility into retirement budgets and reducing discretionary expenses during poor market conditions can help preserve savings [5] Social Security Strategy - Delaying Social Security claims can increase monthly benefits, with an 8% boost for each year delayed beyond full retirement age, which is 67 for those born in 1960 or later [6] - Even a modest delay of one year past full retirement age can provide a beneficial increase in benefits [7] Overall Financial Management - By investing wisely, remaining flexible with spending, and strategically claiming Social Security, retirees can alleviate concerns about their savings lasting throughout retirement [9]

What’s harder: holding winners or cutting losers? ...

Crypto is a lot like the Olympics.You’ve got your big-air, one trick snowboarders— style points, massive cheers from the crowd, but wipe out once and you’re done.Then you’ve got your long-distance skiers— steady pace, brutal conditions, minimal noise… just quietly finishing every race while the crowd looks away.Most people only notice the jumpers. But the distance skiers are setting the pace.Flashy tricks will win you highlights.Consistency will win you cycles.I’m built to go the distance. ...

Core Insights - The article discusses the evolution of an investor's strategy over time, emphasizing the importance of understanding the underlying motivations for investing [1] Investment Strategy - The investor initially engaged in quick trades and arbitrage but found the experience to be inconsistent and stressful, leading to a reevaluation of their approach [1] - A focus on long-term investments is highlighted, with a commitment to hold stocks for at least 3 to 5 years unless there is a fundamental change in the company [1] - The investor aims to outperform the market while protecting against downside risks, which involves thorough research before making investment decisions [1] Research and Learning - The investor has studied the teachings of renowned investors such as Warren Buffett and Peter Lynch, integrating their insights into a personalized investment strategy [1] - Continuous research is emphasized as a critical component of developing and refining investment strategies, including exploring new techniques and potential future investments [1]