Listen and subscribe to Stocks In Translation on Apple Podcasts, Spotify, or wherever you find your favorite podcast. Stagflation fears are rising, but smart investors see opportunity, not panic. In this episode of Stocks in Translation, Pennington Partners & Co. president and chief investment officer Christopher Wolfe joins host Jared Blikre and Yahoo Finance Senior Reporter Brooke DiPalma to break down everything you need to know about stagflation in the current market, and how investors and companies can ...

I don't know if you noticed this axe, but people are talking about the QDP the second quarter print which was amazing for GDP. You were talking about it a bunch Jamath on the socials. He keeps referencing the first half.So he's trying to blend those two together I think because of the the tariff differences or you know maybe to to smooth it out as he said. What's your take on this. The GDP boomed in you know 3% which is pretty great.the the problem. No, the problem that Jerome Powell has is that he's trying ...

Core Viewpoint - Hennessy Advisors, Inc. reported positive financial results for the third fiscal quarter of 2025, highlighting growth in revenue, net income, and assets under management, while maintaining a stable dividend payout [1][4][8]. Financial Performance - Total revenue for the quarter was $8.1 million, an increase of 3.5% compared to $7.8 million in the same quarter of the previous year [4][8]. - Net income rose to $2.1 million, reflecting a 4.5% increase from $2.0 million year-over-year [4][8]. - Earnings per share (diluted) remained unchanged at $0.26 [4][8]. - Average assets under management increased by 5.3% to approximately $4.1 billion, up from $3.9 billion [4][8]. - Total assets under management reached $4.3 billion, marking a 6.3% increase from $4.0 billion [4][8]. - Cash and cash equivalents, net of gross debt, grew significantly by 38.1% to $30.0 million, compared to $21.8 million in the prior year [4][8]. Strategic Outlook - The company expressed confidence in the resilience of the U.S. labor market and the overall economy, citing low unemployment and consistent payroll growth as positive indicators [2]. - Management emphasized a focus on fundamentals rather than reacting to market volatility, with optimism about future performance following the passage of major fiscal legislation [2]. - Hennessy Advisors is also working on expanding its ETF offerings by assuming management of additional tactical growth and income ETFs [3].

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Homes in the U.S. are 35.2% more expensive than they should be when adjusted to 1975 CPI and square footage.That's a $16.9 trillion premium across all U.S. homes.Bitcoin will absorb that excess capital over the next several decades.The great repricing is here. https://t.co/5Re86VBNdM ...

Financial Data and Key Metrics Changes - Banco de Chile reported a net income of CLP 654 billion for the year to date, representing a growth of 2% year on year, with a return on equity (ROE) of 21.9% [4] - The bank's operating income totaled CLP 763 billion in 2025, reflecting stable performance despite subdued business activity [27] - The net interest margin reached 4.7% for the quarter and 4.8% as of June 2025, maintaining a leading position in the industry [30] Business Line Data and Key Metrics Changes - Customer income increased by 2.7% year on year to CLP 626 billion, driven by a 6.2% rise in net income from loans and an 8.1% increase in fee income [28] - Total loans reached CLP 39.4 trillion as of June 2025, reflecting an annual increase of 3.9%, with mortgage loans growing by 8.1% year on year [31][33] - The SME portfolio within commercial loans expanded by 4.8% year on year, contributing to customer income growth [29] Market Data and Key Metrics Changes - The Chilean economy showed signs of recovery, with GDP growth of 2.3% year on year in the first quarter of 2025, above the estimated long-term trend [6] - The unemployment rate stood at 8.9% in June 2025, up 60 basis points from a year earlier, indicating mixed signals in the labor market [9] - Inflation remained above the central bank's target of 3%, with a headline rate of 4.1% in June, down from 4.9% in March [10] Company Strategy and Development Direction - Banco de Chile's strategic framework focuses on supporting the development of Chile through efficiency, collaboration, and a customer-first mindset [19] - The bank aims to achieve sustainable, long-term industry-leading profitability and market leadership in both commercial and consumer loans [20] - Recent initiatives include enhancing digital capabilities, integrating subsidiaries for operational efficiency, and participating in state-guaranteed credit programs to stimulate economic activity [24][25] Management's Comments on Operating Environment and Future Outlook - Management highlighted the ongoing challenges in the global macroeconomic landscape but emphasized the bank's strong fundamentals, including asset quality and capital base [5] - The bank revised its GDP forecast for 2025 upwards to 2.3%, reflecting stronger-than-expected economic performance in early 2025 [13] - Management expressed confidence in maintaining a return on average capital of approximately 21% for the full year, supported by strong cost control and productivity gains [50] Other Important Information - The bank's common equity Tier 1 ratio reached 14%, positioning it among the top performers in the industry [41] - Total provisions amounted to CLP 1.5 trillion, with a coverage ratio of 252%, reflecting a conservative approach to credit risk management [46] Q&A Session Summary Question: Insights on the political landscape and potential regulatory impacts - Management noted the likelihood of a second round in presidential elections and emphasized the importance of economic growth discussions among candidates [54][55] Question: Outlook on net interest margins (NIM) and overnight rates - Management expects lower interest rates in the future, with a potential NIM of around 4.5% to 4.7% in the medium term, depending on market factors [59][60] Question: Comments on cost control initiatives and future expense growth - Management highlighted significant improvements in efficiency through digital tools and branch network reductions, with an aspiration to maintain an efficiency ratio below 42% [78][81] Question: Loan growth outlook and industry comparisons - Management indicated a guidance to grow slightly above the industry average, which is projected at 4% [86]

Monetary Policy & Interest Rates - The market anticipates potential rate cuts, contingent on controlled inflation and a weakening labor market [2] - Recent data indicates a meaningful slowdown in growth and a stalling labor market [3] - Former President Trump advocated for rate cuts to strengthen America's credit rating and reduce the cost of US debt, linking monetary policy to Treasury debt management [3][4] Economic Outlook - The state of the economy and the accuracy of data are major discussion points at the Aspen Economic Strategy Group forum [1]

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Economic Uncertainty & Recession Risks - Uncertainty, stemming from policy, geopolitical factors, and President Trump's attacks on the Federal Reserve, poses a significant threat to US economic growth [1][2] - Recession risks are higher than average, though not overwhelming, as the US consumer remains resilient [7][9] - Corporate investment is hindered by uncertainty, impacting medium to longer-term plans [5] Monetary Policy & Inflation - It's difficult to argue for lower interest rates currently due to uncertainty about future inflation [11] - There are no overwhelming signs of weakening economic activity that would call for monetary policy stimulus [12] - The pass-through of tariffs into higher prices has been modest so far, but it's still early stages [11] Immigration & Demographics - Slower population growth due to immigration shocks negatively impacts medium-term potential output [8][9] - Aging populations and declining birth rates in the US and other advanced economies impact potential growth [14] - Immigration has historically contributed to trend growth in the US economy [8][14] Debt & Fiscal Policy - The US budget bill is estimated to add at least $3 trillion to the deficit over the next 9 to 10 years [15] - High debt levels and debt servicing costs are a concern, potentially hindering more productive investments [17][18] Globalization & Trade - Globalization has been off its peak since the global financial crisis [20] - While globalization has benefited consumers through cheaper products, it has also led to a hollowing out of various sectors in the US [20][22] - Increased global cooperation is preferred over a fragmented system [22] Global Debt Crisis - The unfolding debt crisis in low-income countries is something to watch, as it could amplify to emerging markets with bigger footprints [24][25]

The Dow, S&P, and the NASDAQ all about 2% from their highs. Savvita Subramanyan is the head of US equity and quantitative strategy at Bank of America securities and she joins us live this morning. Sevita, you were looking for a price target not much higher than where stocks are right here for the end of the year.But you do say there's upside risk to that. I do think so. I mean, look, I we're at a point that is frustrating because sentiment is not necessarily bearish or bullish based on all the things we loo ...