Ares Capital (ARCC +1.53%). Right, so this is a Business Development Company. Sounds…serious, doesn’t it? Basically, they lend money to companies that aren’t quite big enough to get loans from your usual suspects. They’ve apparently done rather well for themselves – beating the S&P 500 by a cool 40% since 2004. Which, frankly, is a bit show-offy, but I’ll allow it.
One searches for alternatives, for those who navigate the currents with a steadier hand. Walmart and Costco present themselves, not as revolutionary forces, but as reliable vessels, quietly charting a course through the often-turbulent waters of consumer spending.
Yet, do not dismiss this troupe entirely! For Oklo proposes a most ambitious undertaking: the construction of miniature powerhouses, fueled not by the fickle whims of the market, but by the very atoms themselves! These ‘Aurora’ reactors, as they are styled, are designed to consume recycled fuel – a notion, I confess, that smacks of a certain alchemical ingenuity. And in a world increasingly ravenous for power – driven, as it is, by these insatiable ‘artificial intelligences’ and their data-hungry appetites – the demand for such a solution does, undeniably, swell.
I’ve been quietly accumulating shares in a few of these companies – Royal Caribbean (RCL +2.27%) and Viking Holdings (VIK +0.71%) mostly – and the recent wobble feels…opportunistic. Not because I have any particular fondness for shuffleboard or themed nights, but because the panic feels overblown. I mean, people want to go on cruises. They really do. Even when gas is ridiculous, even when the news is terrifying. Mildred, bless her, is proof of that. And demand, as anyone who’s tried to book a cabin recently knows, is exceeding supply. Which, in the world of economics, is a pretty good position to be in, even if you’re dodging potential pirate activity.
Look, I’m an equity researcher, so I have to acknowledge the actual drivers. AI is a thing. Quantum computing is, apparently, also a thing. But let’s be real, the Tax Cuts and Jobs Act played a role. Lowering the corporate tax rate from 35% to 21%? Businesses suddenly had more cash to play with, and they played with it… by buying back their own shares. It’s a neat trick, really. Makes the numbers look good, at least until you start digging.
They ask if one should sell. A question for those who possess something worth selling. If you cling to these digital tokens, perhaps it is best to hold tight. But if a shadow of worry crosses your face, if you contemplate adding to the pile… listen. There is a churning beneath the surface, and it is not about the coins themselves.
The SEC filings are… revealing. Q3 2025, they had $74 million spread across Tesla, Microsoft, and Apple. A perfectly reasonable spread, if you ask me. Then, Q4? Nada. Zip. Zilch. Not a single stock. It’s like he woke up one morning and decided the whole market smelled faintly of regret. I get it, actually. It often does.
Dutch Bros, you see, is spreading its beverage emporiums across the land, one drive-thru window at a time. It’s a slow and steady sort of expansion, and I admire that. A fella can’t build a lasting fortune on flash and puffery. The stock’s down a good bit from its peak, but their revenue has more than doubled since late 2022. That’s a sign of a business that’s doin’ somethin’ right, wouldn’t you say?
Let us not mistake mere buoyancy for true strength. The present contentment of the market is akin to a player who, having won a few small stakes, believes himself invincible. A dangerous delusion, I assure you.
Both enterprises hum along, naturally, each with its own engine of expansion. But which one, my friends, offers the more promising wager? Which one will fill our pockets with a satisfying clink? Let us examine the data, as one would inspect a slightly used samovar.