The U.S. unemployment rate is the highest it's been since the Covid pandemic, despite employers hiring more people than expected in November, according to the latest data from the Bureau of Labor Statistics. The economy added 64,000 non-farm payroll jobs in November, well ahead of the 45,000 jobs economists polled by The Wall Street Journal expected. Worst layoff years through November 2020: 2.23 million 2001: 1.96 million 2002: 1.37 million 2009: 1.24 million 2025: 1.17 million 2003: 1.14 million ...

As of 2025, I've got over 10 years of researching companies. In total, throughout my investing life, I estimate that I researched (in depth) well over 1000 companies, from commodities like oil, natural gas, gold and copper to tech like Google or Nokia and many emerging market stocks, which I believe could help me provide useful content for readers. After writing my own blog for about 3 years, I decided to switch to a value investing-focused YouTube channel, where I researched hundreds of different companies ...

Core Insights - IREN Limited (IREN) shares have experienced a significant decline of over 54% from their peak price of $76.41 per share, with a notable drop of 10% on Monday and an additional 4% on Tuesday [1] Company Summary - IREN Limited has seen its stock price plummet, indicating potential volatility and investor concern regarding its future performance [1] Industry Context - The technology sector is characterized by rapid changes and investment opportunities, as highlighted by the activities of Tech Stock Pros, a group focused on providing research and insights to individual investors [2]

Min is denoted by 0 and Max by 1. Source: J.P. Morgan Flows & Liquidity. Cross Asset Positioning Monitor aggregates across the various position indicators of Appendix ranging from positioning proxies across various futures contracts, momentum signals as proxies of how trend-following funds/ CTAs are positioned, mutual fund betas as proxies of how mutual fund managers are positioned, risk parity fund positioning and leverage proxies, hedge fund betas as proxies of how hedge fund managers are positioned, clie ...

Key Points Some "Magnificent Seven" stocks are outperforming the broader market this year, while others have lagged behind. President Donald Trump's tariffs have had a more significant impact on some of these stocks than on others. Some of the seven remain overvalued, while others could still have upside, but 2026 results may depend heavily on investor sentiment for AI as a whole. 10 stocks we like better than Apple › The "Magnificent Seven" stocks have dominated the market and the financial new ...

Core Insights - Zillow Group Inc is a significant player in the online real estate market, primarily generating revenue through its Premier Agent program, which connects real estate agents with potential clients [1] - The company faces increasing competition from other real estate platforms and now from Google, which is testing a new mobile real estate ad format [1][3] Company Performance - On December 15, 2025, Piper Sandler upgraded Zillow's rating to "Overweight" with a stock price of $66.18, indicating potential for stock outperformance despite a cautious recommendation to "hold" due to competition concerns [2] - Zillow's shares recently fell by 8.5% following reports of Google's new ad format, which could impact Zillow's lead-generation business and reduce traffic to its platform [3][6] Market Position and Competition - Google's new ad unit poses a direct challenge to Zillow's market position by offering similar features, which could attract users away from Zillow [4][6] - The stock price of Zillow is currently at $66.03, reflecting a decrease of 8.77%, amid investor concerns regarding Google's entry into real estate advertising [4][5] Trading Activity - Zillow's stock has shown significant volatility, with a trading range of $63.15 to $67.08, and a market capitalization of approximately $15.98 billion [5] - The trading volume reached 1,655,895 shares on the NASDAQ exchange, indicating active trading amid the competitive landscape [5]

Core Viewpoint - The current market is in the advanced stages of a bubble, characterized by overvaluation, overownership, overinvestment, and overleverage, particularly in the tech sector [2][5]. Overvaluation - Historical data indicates that major bubbles typically see prices rise tenfold over a 10 to 15-year period, which aligns with the performance of the US tech sector in recent years [2]. - Current valuations in the tech sector are in the 95th percentile across most metrics, with only the year 2000 showing comparable levels [2]. Overownership - Americans currently hold 52% of their financial wealth in the stock market, surpassing levels seen in 2000, and indicating a significant shift in wealth allocation compared to property [3]. Overinvestment - Tech investment as a share of GDP has reached 6%, which is higher than the levels recorded in 2000, suggesting a substantial increase in capital directed towards technology [4]. Overleverage - While there has been an increase in AI-related debt, households and the private sector are not as leveraged compared to previous cycles, with the government being the primary source of increased leverage [4][5]. Market Performance - Major tech companies like Meta, Amazon, and Microsoft have seen stock price increases of 9%, 2%, and 12% respectively this year, but all underperform the S&P 500 [6]. - The decline in free cash flow growth for these companies is contributing to their current stock performance issues [8]. Global Market Comparison - Despite significant investment in AI, US stock markets have underperformed compared to global markets, marking the widest performance gap since 2009 [8][9]. Interest Rates as a Catalyst - Historically, rising interest rates have been the primary catalyst for ending market bubbles, indicating that any tightening in financial conditions could trigger a market correction [9][10].

Core Insights - Baidu (BIDU) has demonstrated excellent financial health and is significantly expanding in AI and robotaxi sectors, maintaining a Strong Buy rating despite a ~40% increase in stock price since the last coverage [1] Company Analysis - Baidu's financial health is highlighted as a strong point, indicating robust performance metrics and stability [1] - The company is actively expanding its presence in artificial intelligence and robotaxi services, which are key growth areas in the tech industry [1] Industry Context - The analysis reflects a broader trend in the tech industry where companies are increasingly focusing on AI and autonomous vehicle technologies, positioning themselves for future growth [1]

Core Insights - The demand for power in the US is expected to grow at a rate five to ten times faster over the next decade compared to the previous one, driven by the booming AI development [1] - Major US companies, including tech giants and others, are entering the energy trading market to manage their energy needs and mitigate risks associated with fluctuating electricity prices [2][3] Group 1: Industry Trends - The average price for electricity in the US increased by 7% in September compared to the previous year, with natural gas prices rising over 60% in the same period [5] - Companies with high energy consumption, such as Microsoft and Disney, are incentivized to sign long-term contracts to secure stable electricity prices [6] Group 2: Company Actions - Meta, Microsoft, and Apple have received licenses from the Federal Energy Regulatory Council to engage in wholesale power trading to address their energy demands [2] - The Walt Disney Company has also begun hiring for an energy trader position, indicating its entry into the energy trading space [2] Group 3: Risk Management - Companies face increased market vulnerability as demand for power rises, prompting them to adopt energy trading functions to mitigate risks [3] - Utility companies are tightening contract terms, requiring firms to commit to certain power quantities, which can lead to excess costs if actual usage is lower [4]

Core Points - A group of states is suing the Trump administration to block a $100,000 fee for new H-1B visa applications, arguing it creates an illegal barrier for employers [1][2] - The lawsuit is led by California and Massachusetts Attorneys General and claims the administration did not follow proper rulemaking processes [2][3] - The fee increase is being challenged by multiple parties, including the US Chamber of Commerce and various unions, indicating widespread opposition [3] H-1B Visa Program - The H-1B visa program allows US companies to hire skilled foreign workers, primarily in the tech industry, and is awarded through a lottery system [4][5] - Major companies utilizing H-1B visas include Amazon, Microsoft, Meta Platforms, and Apple [5] - The lawsuit highlights concerns that the fee will negatively impact key public sectors such as education and healthcare [5][6] States Involved - The lawsuit includes multiple states beyond California and Massachusetts, such as New York, Arizona, and Illinois, indicating a broad coalition against the fee [7]