The catalyst, if one can dignify it with such a term, involved a minor incident at El Paso International Airport. The airspace, with a characteristic lack of foresight, was abruptly closed due to a drone incursion originating, naturally, from Mexico. One pictures a rather indignant air traffic controller.
I’m talking about American Express and Bank of America. Two institutions that have seen empires rise and fall, financial panics come and go, and still managed to keep counting the money. Warren Buffett likes them, and while I wouldn’t blindly follow anyone (especially not someone who made his fortune predicting what other people will do), it’s worth paying attention. The man understands value, even if he does have a fondness for cherry cola.1
GE Aerospace boasts an installed base of approximately 80,000 commercial and military engines. This, naturally, provides a foundation for service revenue – shop visits, spare parts, and long-term maintenance agreements. In 2025, this service stream yielded $24 billion, a 26% increase year over year, accounting for over half of the company’s total revenue. It is a comfortable position, this reliance on an existing customer base, but one that breeds a certain complacency. Management projects $8.2 billion in free cash flow for 2026, a figure that, while substantial, depends on continued operational efficiency and the avoidance of unforeseen disruptions.
As geopolitical tensions mount, and economic indicators offer only contradictory signals, this pattern is likely to continue. The present uncertainty is not a temporary aberration, but a defining characteristic of the age. Those who understand this can position themselves accordingly. The following two companies, while distinct in their operations, both benefit directly from this perpetual state of unease.
Everyone’s obsessed with artificial intelligence, with algorithms and data. Fine. But those things need power. A lot of it. And right now, the way we deliver that power is…well, inefficient. It’s like trying to run a spaceship on a bicycle pump. Navitas is building better pumps. Not exciting, but necessary.
The consumer staples sector, a supposed haven. A place for the cautious, the weary. Yet, Conagra does not lead this procession. It limps along, burdened by its own weight. A sturdy cart, perhaps, but with a wheel threatening to break with every turn.
The S&P 500, once a relatively balanced reflection of the American economy, has become increasingly dominated by a single sector. During the late 20th century, technology briefly held sway, only to be eclipsed by the financial sector prior to its well-documented collapse. Now, technology has once again risen to prominence, constituting approximately one-third of the index. This is not diversification; it is merely a reshuffling of risk.
Yet, amidst this general disquiet, a particular sector exhibits a most encouraging resilience: those tokens secured by the tangible weight of gold. Tether Gold and PAX Gold, between them, command a full ninety percent of this promising, if somewhat conservative, market. For those possessing a modest capital of one thousand dollars and seeking a harbour from the prevailing storms, these present a prospect worthy of consideration.
This digital marvel, born but a decade ago, has, in truth, eclipsed the venerable S&P 500 in the swiftness of its ascent. From a pittance of a dollar to a staggering sixty-eight thousand and five hundred – a transformation worthy of the most audacious alchemist! One might be forgiven for believing a philosopher’s stone had, at last, been discovered, but I assure you, the transmutation is of a far more… ethereal nature.
In the fateful year of 2025, the firm’s hoard of 35,012 BTC suffered a paper loss of $619 million, a sum so vast it could purchase a small island, or at least a very large yacht. By February, this loss had doubled to a staggering $1.2 billion, a figure that would make even the most stoic accountant weep into their tea.