Michael Fitzsimmons is a retired electronics engineer and avid investor. He advises investors to construct a well-diversified portfolio built on a core foundation of a high-quality low-cost S&P500 fund. For investors who can tolerate short-term risks, he advises an over-weight position in the technology sector, which he believes is still in the early stages of a long-term secular bull-market. For dividend income, and as a 4th generation oil & gas man, Fitzsimmons suggests investors consider a position in la ...

Group 1 - The primary goal of the "High Income DIY Portfolios" service is to provide high income with low risk and capital preservation for DIY investors [1] - The service offers seven portfolios, including three buy-and-hold, three rotational portfolios, and a conservative NPP strategy portfolio [1] - The portfolios are specifically designed for income investors, including retirees or near-retirees, focusing on creating stable, long-term passive income with sustainable yields [1] Group 2 - The "Financially Free Investor" emphasizes a unique 3-basket investment approach targeting 30% lower drawdowns and 6% current income [2] - The investing group "High Income DIY Portfolios" includes a total of 10 model portfolios with varying income targets and risk levels, along with buy and sell alerts and live chat [2] - The focus is on investing in dividend-growing stocks with a long-term horizon to achieve market-beating growth [2]

On February 6, Marathon Asset Management disclosed in a U.S. Securities and Exchange Commission (SEC) filing that it sold 559,011 shares of Tencent Music Entertainment (NYSE:TME) in the fourth quarter, an estimated $11.34 million trade based on quarterly average pricing. What happened According to a filing with the U.S. Securities and Exchange Commission dated February 6, Marathon Asset Management sold 559,011 shares of Tencent Music Entertainment during the fourth quarter. The estimated transaction valu ...

I swore I would stop covering mega-cap technology stocks because they are so well covered on Seeking Alpha, so it's pretty hard for me to stand out from the crowd. Yet, once again I am motivated toMichael Fitzsimmons is a retired electronics engineer and avid investor. He advises investors to construct a well-diversified portfolio built on a core foundation of a high-quality low-cost S&P500 fund. For investors who can tolerate short-term risks, he advises an over-weight position in the technology sector, wh ...

Core Insights - The article emphasizes the importance of a well-diversified investment portfolio, recommending a foundation based on a high-quality low-cost S&P 500 fund [1] - It suggests an overweight position in the technology sector for investors who can handle short-term risks, indicating that this sector is in the early stages of a long-term bull market [1] - For dividend income, the article advises considering large oil and gas companies that offer strong dividend yields and growth [1] Investment Strategy - The recommended investment strategy includes a top-down capital allocation approach tailored to individual investor circumstances such as age, risk tolerance, income, and financial goals [1] - Suggested investment categories include S&P 500, technology, dividend income, sector ETFs, growth, speculative growth, gold, and cash [1]

Financial Data and Key Metrics Changes - Sales of continuing operations in FY 2025 Q3 increased by 1% year-on-year to JPY 3,713.7 billion, while operating income rose by 22% to JPY 515 billion, both record highs for the third quarter [2] - Net income increased by 11% to JPY 377.3 billion [2] - Full-year sales forecast was upwardly revised by 3% to JPY 12,300 billion, operating income forecast increased by 8% to JPY 1,540 billion, and net income forecast also increased by 8% to JPY 1,130 billion [2] Business Segment Data and Key Metrics Changes - G&NS segment sales decreased by 4% year-on-year, but operating income increased by 19% due to favorable foreign exchange rates and increased sales in network services and first-party software [3] - Music segment sales increased by 13% year-on-year, with operating income rising by 9%, driven by live events and streaming revenue [6][7] - ET&S segment sales decreased by 7% year-on-year, and operating income decreased by 23% due to lower sales [12] - I&SS segment sales increased by 21% year-on-year, and operating income increased by 35%, both record highs for the segment [14][15] Market Data and Key Metrics Changes - Monthly active users across all PlayStation platforms increased by 2% year-on-year to a record high of 132 million accounts [4] - Total playtime for the quarter increased by 0.4% year-on-year [4] - The global interchangeable lens camera market demand remained strong year-on-year, particularly in Asia [13] Company Strategy and Development Direction - The company plans to enhance its music, video, and event business by leveraging Peanuts IP, aiming for long-term growth [11][12] - A strategic partnership with TCL aims to strengthen the home entertainment business through a joint venture [14][26] - The company intends to prioritize monetization of its existing install base and expand software and network service revenue in the gaming segment [5] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the uncertain business environment but expressed confidence in achieving results as the fiscal year-end approaches [17] - Concerns regarding memory supply and pricing were noted, with management indicating a focus on improving profitability and optimizing the business portfolio [23][45] - The company remains optimistic about the upcoming software lineup in the gaming and Sony Pictures segments [45] Other Important Information - The company increased its share repurchase facility from JPY 100 billion to JPY 150 billion, reflecting confidence in its business fundamentals [17][52] - The acquisition of an additional equity interest in Peanuts Holdings is expected to contribute approximately JPY 45 billion to operating income [7] Q&A Session Summary Question: About the game "Marathon" and its strategic significance - Management explained that user feedback led to modifications before the release, emphasizing the importance of live service games for recurring revenue [20] Question: Concerns about stock price performance - Management acknowledged market concerns regarding memory supply and the overall entertainment sector but emphasized a focus on improving business fundamentals [23] Question: About the strategic partnership with TCL - Management clarified that the partnership aims to optimize the home entertainment business, including TV and home audio [26] Question: Impact of rising memory prices on PS5 - Management indicated that while there may be some impact on hardware sales, the focus will remain on software and network services, which are expected to continue contributing significantly [28] Question: Music streaming revenue growth prospects - Management expressed confidence in mid to long-term growth in the music business, driven by increasing average revenue per user and user numbers [31] Question: Generative AI's impact on game development - Management views generative AI as a tool that can enhance creativity in game development, emphasizing the need for integration with human sensitivity [61]

Many investors might be surprised that a relatively low-profile utility company like NRG Energy ( NRG ) has not only dramatically outperformed its arguably flashier peer NextEra Energy ( NEE ) over the past five years (see chart below) but has also tripledMichael Fitzsimmons is a retired electronics engineer and avid investor. He advises investors to construct a well-diversified portfolio built on a core foundation of a high-quality low-cost S&P500 fund. For investors who can tolerate short-term risks, he a ...

Many investors might be surprised that a relatively low-profile utility company like NRG Energy ( NRG ) has not only dramatically outperformed its arguably flashier peer NextEra Energy ( NEE ) over the past five years (see chart below) but has also tripledMichael Fitzsimmons is a retired electronics engineer and avid investor. He advises investors to construct a well-diversified portfolio built on a core foundation of a high-quality low-cost S&P500 fund. For investors who can tolerate short-term risks, he a ...

Last month, millions of people made New Year's resolutions. Many of them have likely already come to a halt. But the experiment I started on Jan. 1 is still going strong, and as the new Voyager Portfolio enters its second month, you're going to see this series of articles on promising stocks make a shift. Why make an abrupt change after a month of looking at 10 interesting, underfollowed stocks? Because as valuable as it is to scour the investing universe for the most promising companies, there's another ...

Financial Data and Key Metrics Changes - The company reported sales of $3.8 billion in 2025, a slight increase over the previous year, with earnings per share (EPS) rising 6% to a record $3.85 [10][6] - Free cash flow for 2025 was $546 million, a 15% increase compared to 2024, with a free cash flow conversion rate of 100% [13][14] - The company returned $597 million to shareholders through dividends and share repurchases [6][14] Business Line Data and Key Metrics Changes - North America segment sales were $3 billion, slightly up from 2024, with a segment margin of 24.4%, an increase of 20 basis points year-over-year [10][11] - North America water heater sales increased by 1%, while boiler sales grew by 8% due to higher commercial and residential volumes [7][10] - Water treatment sales in North America decreased by 2%, but sales in priority channels grew by 10% [8][9] - Rest of the World segment sales decreased by 4% to $880 million, primarily due to lower sales in China [11][12] Market Data and Key Metrics Changes - In China, third-party sales decreased by 12% in local currency due to economic weakness and soft consumer demand [9][11] - The company expects China sales to decrease mid-single digits in 2026 due to ongoing market challenges [20][21] - The India business, including Pureit, is projected to grow approximately 10% as the company leverages brand synergies [21][28] Company Strategy and Development Direction - The company is focused on portfolio management, innovation, and operational excellence as key strategic priorities [22][24] - The acquisition of Leonard Valve is aimed at expanding into the water management market, enhancing digital capabilities and integrated product offerings [26][27] - The company plans to continue investing in gas tankless offerings and other energy-efficient products to maintain market leadership [16][22] Management's Comments on Operating Environment and Future Outlook - Management noted that the U.S. residential market is expected to remain flat to down due to pressures in new home construction [18][19] - The company anticipates a return to growth in China in the second half of 2026, driven by internal actions and market recovery [21][38] - Management expressed confidence in the company's ability to navigate competitive pressures and maintain profitability through strategic actions [28][29] Other Important Information - The company has increased its dividend for over 30 consecutive years, with a quarterly dividend of $0.36 per share approved [14][15] - The company expects to repurchase approximately $200 million of its stock in 2026 [17][15] Q&A Session Summary Question: What is driving the persistent downturn in residential volumes? - Management indicated that the downturn is primarily due to pressures in new home construction, with emergency and proactive replacements remaining stable [36][37] Question: What indicators suggest a return to growth in China? - Management highlighted the need to move past the impact of government subsidies and focus on remodeling and refurbishments as key drivers for growth [38] Question: Can you elaborate on the competitive intensity in the wholesale channel? - Management noted that competitive pressure is increasing due to low new home construction and retail gaining market share, but emphasized their strong position in both retail and wholesale channels [42][43] Question: What is the growth outlook for the water treatment business? - Management expressed optimism about continued growth and margin expansion in the water treatment business, driven by strategic focus and integration efforts [70][73]