The filing, dated February 4th, 2026 – a date which, I am assured, is perfectly ordinary, despite a peculiar alignment of the planets – reveals an increase in HighMark’s position. Approximately four million dollars’ worth of Axogen was added to the portfolio, bringing the total holding to eleven point two million. A sum sufficient, one imagines, to purchase a small principality, or at least a rather comfortable collection of samovars.
Now, one would expect, in times of such financial caprice, a prudent retreat to the sanctuary of bonds, a bolstering of the treasury against the tempest. But observe the peculiar folly! The very same market, which so readily embraces the glitter of gold, continues to bid up the prices of shares, as if defying the very laws of economic reason. And the bonds? They remain stubbornly unmoved, a chorus of indifference amidst the clamor. It is as if investors, possessed by a whimsical fancy, have decided that gold shall be their sole protector, abandoning the time-honored tradition of diversification.
Microsoft (MSFT 3.35%), now, is a name that needs no introduction. It’s everywhere, isn’t it? One can scarcely turn around without bumping into a bit of Microsoft software. They’ve been posting results that are, if I may say so, rather impressive, with a growth spurt of 17% in the last quarter. And yet, the market seems to have given it the cold shoulder of late. A most peculiar state of affairs! It’s as if someone decided a perfectly good bowler hat was suddenly out of fashion. This, my dear reader, presents a golden opportunity. At 24 times forward earnings, it hasn’t been this affordable in nearly three years. A splendid time to acquire a few shares, wouldn’t you agree?
According to a recent survey – The CORP-DEPO’s 2026 Investor Outlook and Predictions Report, if you’re keeping score – a remarkable 58% of individual investors intend to buy more stocks in the coming year. A further 34% are planning to hold, presumably while contemplating the aforementioned banana. The younger generations – Gen Z and Millennials – appear to be leading this charge, which is either incredibly optimistic or deeply concerning, depending on your preferred level of cynicism. (We, as dividend hunters, lean towards cautiously optimistic. A steady income stream is, after all, a remarkably sensible thing to pursue.)
The United States, in a moment of practical, if uninspired, foresight, has turned its gaze towards nuclear power. A commendable ambition, though one must wonder if it is driven by genuine concern for the future, or merely a desire to avoid the inconvenience of darkness. The Department of Energy, with the audacity of a benevolent despot, has decreed a tripling of American nuclear energy production by mid-century. A grand gesture, certainly, though one hopes it doesn’t involve too much drab concrete.
The broader market, in its restless striving, currently offers a dividend yield of a mere 1.1%. Even among its peers, the pharmaceutical sector, averaging 1.7%, seems preoccupied with grander ambitions than the simple return of capital. AbbVie, however, presents a yield of 2.9%. It is a difference, one might observe, not of magnitude, but of intention. To collect 1.8 percentage points more than the prevailing market current, or 1.2 points above the pharmaceutical average, is to opt for a slower, steadier rhythm. An S&P 500 index fund, with its frenetic energy, yields a pittance in comparison; the average drug stock, similarly driven, offers a smaller portion of the overall return. For one seeking income, these are not insignificant figures.
The proposed acquisition of Warner Bros. Discovery, a transaction as sprawling and complex as a Russian novel, has introduced a delightful, if disquieting, uncertainty. The specter of Paramount Skydance, circling like a particularly acquisitive vulture, only adds a frisson of suspense. The market, predictably, has responded with a bout of nervous indigestion, shedding Netflix shares as if they were last season’s fashions. One is left to ponder: is this a temporary aberration, a fleeting shadow cast by the looming merger, or a harbinger of more substantial woes?
Buffett’s preference for long-term holdings was, of course, utterly pedestrian, but undeniably effective. He favored companies with a certain…stickiness, shall we say? Brands that clung to the public’s affections, and, more importantly, continued to generate dividends. A thoroughly sensible approach, though lacking in a certain…flair.
The explanations offered are… convenient. Inflation, they say, remains a specter, tethering interest rates to a higher plane. And the endless expansion of government debt, a bottomless pit demanding ever-increasing tribute. Yes, supply increases, demanding a higher price. But these are merely symptoms, not the disease itself. The true malady lies in a deeper, more unsettling truth: a loss of faith. Investors, it seems, have turned to gold – that ancient, glittering refuge – not because of rational calculation, but from a primal fear, a premonition of instability. They seek not return, but preservation. A pathetic, desperate clutching at something tangible in a world built on vapor.
The stock jumped after the IPO, a quick 140% gain. But the last six months? Static. Investors are starting to squint, wondering if this AI fever is breaking. That’s where things get interesting. And where a trader starts to pay attention.