Group 1 - The CEF/ETF Income Laboratory manages portfolios targeting safe and reliable yields of approximately 8% to facilitate income investing [2] - The service includes managed portfolios, actionable income and arbitrage recommendations, and in-depth analysis of closed-end funds (CEFs) and exchange-traded funds (ETFs) [2] - The community consists of over a thousand members focused on finding the best income ideas, catering to both active and passive investors [2] Group 2 - The potential for increased inflation due to announced tariffs may lead to the Federal Reserve maintaining higher interest rates for an extended period [2] - The majority of holdings in the CEF/ETF Income Laboratory are monthly-payers, which aids in faster compounding and smoothing income streams [2]

I ventured into investing in high school in 2011, mainly in REITs, preferred stocks, and high-yield bonds, starting a fascination with markets and the economy that has not faded despite the years. More recently I have been combining long stock positions with covered calls and cash secured puts. I approach investing purely from a fundamental long-term point of view. On Seeking Alpha I mostly cover REITs and financials, with occasional articles on ETFs and other stocks driven by a macro trade idea.Analyst’s D ...

Market Overview - The S&P 500 and Nasdaq-100 indices are currently about 10% and 13% below their respective peaks from 2025, indicating they are out of bear market territory [1] - Some index funds and actively managed ETFs remain in bear markets, defined as being 20% or more below their highs [1] Small-Cap Stocks - Small-cap stocks are trading at their lowest price-to-book valuations relative to large-cap stocks in over 25 years, with the gap widening since the start of 2025 [2] - The average stock in the Russell 2000 small-cap index has a price-to-book multiple of 1.8, compared to 4.6 for the typical S&P 500 stock [3] Investment Vehicles - The Vanguard Russell 2000 ETF (VTWO) is highlighted as a preferred investment option due to its low expense ratio of 0.07% and its diversified holdings across 2,000 small-cap stocks [4] - The Vanguard Real Estate ETF (VNQ) is currently 25% below its all-time high, affected by the rising-rate environment that has placed REITs in a technical bear market [5][6] Real Estate Sector - Elevated interest rates negatively impact REITs by making risk-free returns more attractive, increasing the cost of capital, and leading to declines in commercial property values [6] - There is potential for a turnaround in the real estate sector, with expectations of four 25-basis-point Federal Reserve rate cuts by year-end, alongside a 4.2% yield from the VNQ ETF [7] Technology Sector - The Ark Autonomous Technology & Robotics ETF (ARKQ) is an actively managed ETF that focuses on AI investment opportunities, differing from traditional AI index funds by not being top-heavy with big tech stocks [8][9] - The ETF is currently about 18% below its 2025 peak and 30% below its all-time high, presenting a potential investment opportunity for those interested in AI [10]

Key focus and themes Global Markets Research Foreign Exchange - Asia ex-Japan/Euro Area/Europe US 'exit' theme and our trades At what level of the 30-year yield (current:4.86%) do you expect to see the Fed respond? Fig. 1: Top five top-conviction strategy trades in order (scale 1-5) Note: Conviction scale: 1 – Watch; 2 – Watch Closely; 3 - Positioned @ 1/3 desired; 4 – Positioned @ 2/3 desired; 5 – Positioned @ 100% desired. Source: Nomura. Trump's 90-day partial tariff reprieve (announced 9 April) led to s ...

文 ｜ 李翀 崔嵘 韦昕澄 贾天楚 2 0 2 5年3月美国新增非农就业人数超预期，医疗保健服务和休闲酒店业是主要贡献项。失业率小幅 上升主要是劳动力参与率提升所致。就业市场整体健康的环境并没有发生转变，不过，边际上加速 走弱的迹象有所增多。3月新增非农就业数据"不够坏"，没能引发美联储担忧，美联储把通胀风险 摆在经济增长压力前面，鲍威尔发言没有表示出类似于2 0 1 9年风险管理式降息的意图。特朗普"对 等关税"加征幅度和广度显著超预期，与2 0 1 8 - 2 0 1 9年相比，美联储受制于通胀难以提供"Fe d Pu t "，美国就业市场可以提供的"安全边际"难言充分。对美股市场来说，在未见到"Tr ump Pu t "前，预计市场情绪难以改善，仍将在"类滞涨环境"下继续调整，不见"Tr ump Pu t "不撒鹰或是 较优策略。 ▍ 事项： 美国2 0 2 5年3月新增非农就业人数2 2 . 8万（预期1 4万，修正后前值11 . 7万）；失业率为4 . 2%（预 期4 . 1%，前值4 . 1%）；薪资同比增长3 . 8%，环比增长0 . 3%（前值分别为4%和0 . 2%）；劳动力 参与率6 2 ...

Core Insights - CrowdStrike Holdings Inc. is outperforming the broader market in 2025, recovering from a significant outage in July 2024 and reaching an all-time high in February 2024, despite a recent 7.5% drop in stock price [1] Analyst Ratings and Price Targets - BTIG Research upgraded CRWD stock from Hold to Buy with a price target of $431, while Stephens initiated coverage with an overweight rating and a $450 price target, citing improved earnings as a reason for the upgrades [2] - Some analysts, including Truist Financial and Jefferies, have lowered their price targets to $450 and $410 respectively, but these targets remain above the current consensus [3] Revenue Growth and Projections - CrowdStrike reported $4.24 billion in annual recurring revenue (ARR) for the last quarter, reflecting a 23% year-over-year increase, including $224 million in new ARR [4] - The company is guiding for total revenue between $4.74 billion and $4.80 billion for fiscal year 2026, driven by increased adoption of its Falcon platform [5] Competitive Positioning - Analysts are optimistic about CrowdStrike's future growth due to its recent FedRAMP authorization, which will enable it to compete for federal government contracts [6] Profitability and Market Sentiment - The company's subscription revenue boasts an 80% margin, indicating strong earnings growth potential despite broader economic concerns [7] - As of April 1, the stock had a price-to-earnings (P/E) ratio of approximately 515x, contributing to recent price drops as investors took profits amid a negative sentiment towards technology stocks [8] Technical Analysis - CRWD stock found support below its 200-day simple moving average in early March and faced resistance around its 50-day SMA, suggesting it may be entering a defined trading range [9] Institutional Activity - Increased buying activity from institutional investors in the past quarter supports the notion that CrowdStrike may surpass its previous all-time high [10]

Core Viewpoint - Horizon Technology Finance Corporation is under investigation for potential violations of federal securities laws and unlawful business practices, following disappointing financial results that led to a significant drop in stock price [1][2][3]. Financial Performance - For the fourth quarter and full year ended December 31, 2024, Horizon reported total investment income of $23.5 million, which was below the consensus estimate of $26.1 million and represented a decline from both the previous quarter and year-over-year [2]. - The net asset value per share decreased to $8.43 from $9.06 in the previous quarter, attributed to "stressed investments" by the CEO [2]. Stock Market Reaction - Following the announcement of the financial results, Horizon's stock price fell by $0.96 per share, or 9.95%, closing at $8.65 per share on March 5, 2025 [3].

在"鸽派"和"鹰派"之间，鲍威尔选择了"鸭派"（即表面镇定，实际无主）；在"太积 极"和"太不积极"之间，鲍威尔选择了市场与白宫都不得罪；联储看不清形势也是客观 存在的事实，所以2025，货币没有政策，只有对策。 文：国金宏观宋雪涛 如果没有放缓缩表，3月的FOMC会议其实展现出了相当程度的独立性：既不对当前的软数据过度担忧 （强调硬数据依然稳健），又认为民众对于经济的不满更多是因为更高的价格水平（强化去通胀重要 性）。 图表 3:在特朗普上任的一个完整月中,美墨边境移民数量急剧下降 BP (Border Patrol Plus Port of Entry) Migrant Encounters February 2025: Mexico 62 Since October 2019: Mexico 34%. Guatemala 11%. Honduras 10%. Venezuela 9 6%. Colombia 5%. All Others <4% 320,000 280,000 240,000 200,000 160,000 120,000 80,000 40,000 Guatemala Mexico H ...

Core Viewpoint - Recent indicators suggest that economic activity is expanding at a solid pace, with a stable low unemployment rate and elevated inflation levels [1][2]. Monetary Policy Decisions - The Federal Open Market Committee (FOMC) decided to maintain the federal funds rate target range at 4-1/4 to 4-1/2 percent, with a commitment to support maximum employment and return inflation to a 2 percent objective [3][8]. - The FOMC will slow the pace of decline in its securities holdings, reducing the monthly redemption cap on Treasury securities from $25 billion to $5 billion starting in April, while maintaining a cap of $35 billion on agency debt and mortgage-backed securities [3][8]. - The interest rate paid on reserve balances will remain at 4.4 percent, effective March 20, 2025 [8]. Economic Monitoring - The FOMC will continue to assess incoming data and the evolving economic outlook, being prepared to adjust monetary policy if risks emerge that could impede the attainment of its goals [4][5]. - The assessments will consider a wide range of information, including labor market conditions, inflation pressures, and international developments [5]. Voting and Consensus - The monetary policy action was supported by all voting members except Christopher J. Waller, who preferred to maintain the current pace of decline in securities holdings [6].