Core Insights - The iShares Russell 2000 Growth ETF (IWO) focuses on over 1,000 small-cap growth stocks, while the Vanguard Mega Cap Growth ETF (MGK) concentrates on just 69 mega-cap stocks, primarily in the technology sector [1][2][4][5] Fund Characteristics - IWO has sector weights of 25% in technology, 22% in healthcare, and 21% in industrials, with top holdings like Credo Technology Group, Bloom Energy, and Fabrinet each accounting for just over 1% of assets [1] - MGK has a striking 71% allocation to technology, with top holdings including Apple, NVIDIA, and Microsoft, which collectively make up over a third of the fund [2][5] Performance and Risk - MGK has delivered stronger five-year returns and shallower drawdowns compared to IWO, but its heavy tilt towards technology makes it vulnerable to sector downturns [5][7][8] - IWO offers greater diversification, which can cushion against downturns in specific sectors, but it carries higher risk due to its focus on small-cap stocks [8] Cost and Fees - MGK is more affordable than IWO, with an expense ratio that is 0.17 percentage points lower, although IWO offers a slightly higher dividend yield [3][5] Investment Strategy - The choice between IWO and MGK depends on investor preferences for diversification versus concentration, with IWO appealing to those seeking broader exposure and MGK to those favoring established tech giants [4][8]

Core Insights - The Vanguard S&P 500 Growth ETF (VOOG) focuses on growth stocks and has outperformed the Vanguard S&P 500 ETF (VOO) over the past year, but VOO offers lower costs, higher dividend yields, and broader market exposure [1][2] Cost and Size Comparison - VOOG has an expense ratio of 0.07% and VOO has a lower expense ratio of 0.03% - The one-year return for VOOG is 19.3% compared to 15.4% for VOO as of December 18, 2025 - VOO has a higher dividend yield of 1.1% versus 0.5% for VOOG - VOOG has assets under management (AUM) of $21.7 billion, while VOO has AUM of $1.5 trillion [3][4] Performance and Risk Comparison - The maximum drawdown over five years for VOOG is (32.73%) compared to (24.52%) for VOO - An investment of $1,000 in VOOG would grow to $1,920 over five years, while the same investment in VOO would grow to $1,826 [5] Portfolio Composition - VOO holds 505 stocks with a sector mix of 37% technology, 12% financial services, and 11% consumer cyclical, with top holdings including NVIDIA (7.38%), Apple (7.08%), and Microsoft (6.25%) [6] - VOOG concentrates 58% in technology, 12% in consumer cyclicals, and 10% in financial services, with top holdings being NVIDIA (13.53%), Apple (5.96%), and Microsoft (5.96%), resulting in a more concentrated portfolio of 212 holdings [7] Investor Implications - VOO is suitable for investors seeking stability through broader diversification and lower maximum drawdown [8] - VOOG is aimed at investors willing to accept higher risk for greater growth potential, albeit with a higher expense ratio and lower dividend yield [9][10]

Core Insights - The Vanguard Mega Cap Growth ETF (MGK) focuses on mega-cap stocks, while the Vanguard S&P 500 ETF (VOO) provides broader market exposure by tracking the full S&P 500 index [1][2] Cost & Size Comparison - MGK has an expense ratio of 0.07% and assets under management (AUM) of $32.9 billion, while VOO has a lower expense ratio of 0.03% and AUM of $800.2 billion [3] - The one-year return for MGK is 21.14%, compared to VOO's 12.67%, and MGK has a dividend yield of 0.38% versus VOO's 1.15% [3] Performance & Risk Metrics - Over five years, MGK experienced a maximum drawdown of -36.01%, while VOO had a drawdown of -24.52% [4] - An investment of $1,000 in MGK would grow to $2,100 over five years, compared to $1,861 for VOO [4] Portfolio Composition - VOO holds 504 stocks with a sector mix led by technology (36%), followed by financial services (13%) and consumer cyclical (11%) [5] - MGK is more concentrated with 66 holdings, heavily weighted towards technology (69%), and smaller allocations to consumer cyclical (16%) and healthcare (5%) [6] Investment Strategy - MGK's focus on mega-cap companies can lead to higher gains during tech rallies but also results in greater volatility due to its concentrated holdings [7] - VOO offers more diversification, including both large- and mega-cap companies, which may appeal to investors seeking stability [8][9]

Core Viewpoint - Michael Burry has significantly altered his investment strategy by liquidating nearly all previous positions and concentrating solely on Estée Lauder Companies Inc. [1] Group 1: Investment Position - As of March 31, 2025, Burry's Scion Asset Management holds 200,000 shares of Estée Lauder at a purchase price of $66.00 per share, totaling $13.2 million [2] - The current trading price of Estée Lauder shares is $89.74, reflecting a 35.97% increase since the purchase, resulting in approximately $4.7 million in unrealized gains [2] Group 2: Company Performance - Estée Lauder has shown a significant rebound from its 52-week low of $48.12, although it is still below its 52-week high of $101.93 [3] - The company is focusing on restructuring efforts, expanding its global presence, and regaining momentum in the luxury beauty market after facing challenges [3]

Core Insights - Warren Buffett's investment strategy emphasizes portfolio concentration, which has significantly contributed to Berkshire Hathaway's long-term success [1][6] - Berkshire Hathaway has achieved an aggregate return of over 6,230,000% since Buffett became CEO, vastly outperforming the S&P 500's return of approximately 39,700% during the same period [2] Group 1: Recent Developments - Berkshire Hathaway's annual shareholder meeting on May 3 revealed first-quarter operating results and announced Buffett's plan to step down as CEO by the end of the year, with Greg Abel as his successor [4] - On May 15, Berkshire filed its Form 13F with the SEC, detailing stock purchases and sales made by Buffett and his advisors in the recent quarter [5] Group 2: Key Holdings - Approximately 58% of Berkshire's $287 billion portfolio is concentrated in four major stocks [6] - **Apple**: Represents $63.4 billion (22.1% of invested assets). Despite a reduction in shares from 915 million to 300 million, Apple's loyal customer base and strong capital-return program contribute to its value [7][10] - **American Express**: Valued at $45.4 billion (15.8% of invested assets). This long-held investment benefits from its position as a leading payment processor and its ability to attract high-income cardholders [12][13] - **Coca-Cola**: Worth $28.8 billion (10% of invested assets). Coca-Cola's diverse product range and geographic presence provide stability, with a yield on cost of 62.8% from dividends [15][18] - **Bank of America**: Valued at $28.2 billion (9.8% of invested assets). The bank's capital-return program and sensitivity to interest rates position it well for economic growth periods [19][22]