The introduction of private equity into 401(k) accounts is a controversial and much-debated initiative of the Trump administration. A new survey suggests, however, that most rank-and-file Americans seem to like the idea. Two-thirds of registered voters support policies that expand access to private investments in retirement plans, according to a survey from BlackRock, the world’s largest asset manager. Roughly the same share, 64%, think all retirement plans should allow the same investment options, the ...

Of course, not everyone has the time — or the back muscles — to dig for gold in a riverbed. But you don’t need a pan to get in on the action. Gold has long been prized as a store of value — and some of the biggest names in finance are urging investors to make room for it in their portfolios.“It’s emotional, some days you find $15,000, some days you don’t find anything,” Goza said.And payday is never a sure thing.Still, hunting for treasure is often grueling. As another prospector put it, gold “doesn’t jump ...

Core Insights - Invesco Ltd.'s shares have increased by 16.6% over the past three months, outperforming the industry and the S&P 500 Index [1][9] - The company's assets under management (AUM) have shown a compound annual growth rate (CAGR) of 10% from 2020 to 2025, driving fee-based revenues [4][9] - Strategic partnerships and restructuring efforts are aimed at enhancing operational efficiency and expanding market capabilities [5][11] Performance Overview - Invesco's share price has significantly outperformed its peers, with a 16.6% increase compared to BlackRock's 5.3% and AllianceBernstein's 5.9% [1][9] - The company has rebounded in total operating revenues in 2024 and 2025 after a challenging operating environment [6][9] Growth Drivers - The steady growth in AUM is a key factor for revenue generation, with strategic initiatives like partnerships with LGT Capital Partners and MassMutual's Barings to enhance private market capabilities [4][5] - The conversion of the Invesco QQQ Trust into an open-end ETF structure is expected to generate revenues from over $400 billion in AUM [5] Financial Estimates - Zacks Consensus Estimates for Invesco's sales indicate a growth trajectory, with current quarter estimates at $1.25 billion and next year at $5.58 billion, reflecting year-over-year growth of 12.35% [10] - Earnings estimates for 2026 and 2027 have been revised upward, with projections of $2.66 and $3.03 respectively, indicating growth rates of 31% and 13.6% [18][19] Strategic Initiatives - Invesco is executing a broad transformation strategy, including a partnership with CI Global Asset Management to enhance Canadian operations and divesting stakes in certain subsidiaries [11][12] - The company is focusing on a hybrid Alpha investment platform to drive long-term cost savings and operational scalability [11] Global Presence - Invesco has a diversified global footprint, with 31.2% of its client AUM sourced from markets outside the United States, bolstered by the acquisition of Europe-based Source [12] Capital Management - The company maintains solid liquidity, allowing for consistent capital returns to shareholders, including a 2.4% increase in quarterly dividends [13][14] - Invesco has $232.2 million remaining under its share buyback authorization and plans to repurchase $40 million worth of shares in Q1 2026 [14] Challenges - Invesco faces rising operating expenses, with a CAGR of 6.2% over the past five years, primarily due to increased distribution and advisory costs [15] - The company holds $12.4 billion in goodwill and intangible assets, which could pose risks to earnings stability due to potential impairment [16]

Core Insights - CoinShares International Limited (CNSRF) reported an earnings per share (EPS) of $0.34 and revenue of $35.5 million, both aligning with estimates [1][6] - The company has modified its earnings announcement format due to a waiver from Nasdaq Stockholm, linked to a confidential review by the U.S. Securities and Exchange Commission (SEC) regarding its Q3 2025 earnings report [2] Financial Metrics - CNSRF has a price-to-earnings (P/E) ratio of approximately 4.02, indicating a relatively low valuation compared to its earnings [3][6] - The price-to-sales ratio stands at about 3.94, suggesting that investors are paying $3.94 for every dollar of sales [3] - The enterprise value to sales ratio is close to 3.93, reflecting the company's valuation in relation to its sales [3] - The enterprise value to operating cash flow ratio is around 18.43, indicating how many times the operating cash flow can cover the enterprise value [4] - The earnings yield is approximately 24.86%, representing the percentage of each dollar invested that was earned by the company [4] - The debt-to-equity ratio is about 0.18, indicating a low level of debt compared to equity [4] - The current ratio is approximately 1.07, suggesting that the company has a slightly higher level of current assets compared to its current liabilities, indicating good short-term financial health [5][6]

Key Takeaways Many teachers who save for retirement don't know a lot about their pension plans, which makes it hard for them to tell whether they’re truly on track. State support for teacher pensions varies widely, which means two teachers in two different states can have very different levels of retirement security. High fees in 403(b) plans and low salaries make it difficult for teachers to build savings on top of their pensions, though lower-cost options are available. It's true that every teac ...

Core Viewpoint - Ares Management Corporation has experienced significant underperformance in its stock price compared to broader market indices, primarily due to disappointing quarterly results and sector-wide challenges affecting alternative asset managers [2][5][6]. Company Overview - Ares Management Corporation is a global alternative investment manager based in Los Angeles, California, with a market capitalization of $42.7 billion, offering investment solutions across various asset classes [1]. Stock Performance - Over the past year, ARES shares have declined nearly 30%, while the S&P 500 Index has increased by 11.9% [2]. - In 2026, ARES stock is down 19.3%, underperforming the S&P 500's slight decline [2]. - Compared to the State Street Financial Select Sector SPDR ETF, which has seen a marginal gain over the past year but a 4.7% decline this year, ARES' underperformance is evident [3]. Financial Results - Ares Management reported Q4 2025 earnings with an EPS of $1.45, up from $1.23 in Q4 2024, but this figure missed consensus estimates [5]. - Analysts project a 37.2% growth in EPS for the current fiscal year, expecting it to reach $6.53 on a diluted basis [6]. Analyst Ratings - Among 19 analysts covering ARES, the consensus rating is a "Moderate Buy," consisting of 11 "Strong Buy" ratings, two "Moderate Buys," and six "Holds" [7]. - The consensus rating has become slightly more bullish compared to the previous month, where there were nine "Strong Buy" ratings [8]. Price Targets - Raymond James upgraded Ares Management from "Market Perform" to "Strong Buy," setting a price target of $157, citing strong growth prospects [8]. - The mean price target of $180 indicates a 38% premium to current price levels, while the highest target of $223 suggests an upside potential of 71% [8].

Core Viewpoint - The London Company Large Cap Strategy reported a mixed performance in Q4 2025, with US equities showing overall gains while the portfolio lagged behind the Russell 1000 Index due to volatility and concentrated market leadership [1]. Performance Summary - In Q4 2025, the Russell 3000 Index rose by 2.4%, marking the third consecutive quarter of higher returns for US equities [1]. - The London Company Large Cap portfolio returned 0.4% (0.2% net), underperforming the Russell 1000 Index's 2.4% increase [1]. - The economic and policy environment heading into 2026 presents both confidence and doubt, with the portfolio aiming for long-term wealth creation while managing downside risk [1]. Company Focus: BlackRock, Inc. - BlackRock, Inc. (NYSE:BLK) was highlighted as a bottom performer in Q4 2025 due to investor concerns regarding private market liquidity, return durability, and increased expenses from recent acquisitions [3]. - Despite these challenges, BlackRock maintains solid fundamentals, including record assets under management (AUM), healthy inflows, and organic base fee growth exceeding long-term targets, driven by active ETFs, digital assets, and alternatives [3]. - As of February 17, 2026, BlackRock's stock closed at $1,072.67, with a one-month return of -4.89% and a twelve-month increase of 8.75% [2]. Hedge Fund Interest - BlackRock, Inc. was held by 63 hedge fund portfolios at the end of Q3 2025, an increase from 58 in the previous quarter [4]. - While BlackRock is recognized for its potential, the company believes certain AI stocks may offer greater upside potential with less downside risk [4].

Lawrence Fuller has been managing portfolios for individual investors for 30 years, starting his career at Merrill Lynch in 1993 and working in the same capacity with several other Wall Street firms before realizing his long-term goal of complete independence when he founded Fuller Asset Management. He also manages the Focused Growth portfolio on the new fintech platform called Dub, which is the first copy-trading platform approved by securities regulators in the US, allowing retail investors to copy the po ...

Group 1 - Investors expect the Federal Reserve to lower interest rates two more times in 2023, targeting a federal funds rate of 3% to 3.25% by September [1] - A prominent billionaire investor believes the market is underestimating the Fed's potential for more than two rate cuts this year [2] - The selection of Kevin Warsh as the new Fed Chair has relieved market concerns about potential aggressive rate cuts to please the President [5] Group 2 - Kevin Warsh has a notable background in finance, having worked with Stanley Druckenmiller and served on the Federal Reserve's Board of Governors [6] - Investor David Einhorn anticipates that Warsh will advocate for rate cuts even in a strong economy, unless inflation reaches 4% or 5% [7] - Historically, Warsh has been more concerned about inflation than labor market conditions, which may influence his stance on rate cuts given current inflation levels above the Fed's 2% target [8]

LONDON (AP) — Inflation in the U.K. fell to a 10-month low largely on the back of lower food and gas prices, official figures showed Wednesday, a downward move that has reinforced expectations that the Bank of England will cut interest rates in March. The Office for National Statistics said the consumer prices index was 3% higher in January than the year before, down from 3.4% in December. The decline was in line with analysts' expectations and puts inflation well on the path to the central bank's targe ...