Navitas: A Director’s Exit and the Market’s Musing

Transaction value based on SEC Form 4 weighted average purchase price ($9.27); post-transaction value based on Dec. 11, 2025 market close ($9.27).

Transaction value based on SEC Form 4 weighted average purchase price ($9.27); post-transaction value based on Dec. 11, 2025 market close ($9.27).

Now, dear reader, you might be thinking: “If the wizards bought dragons, should I buy dragon food?” Allow me to whisper in your ear like a suspicious character in a tavern:

The Presidential Election Cycle Theory, for instance, is based on data that shows that market performance in the latter two years of each president’s term has tended to outperform the first two years. It’s like a medieval knight’s quest: the first half is filled with battles, the second with feasts (if you’re lucky).

Beta: A measure of how much your heartbeat quickens when you check it. Asset under management: The weight of everyone’s dreams, held prisoner in plastic.

Though their expense ratios-FTEC’s modest 0.08% against VGT’s 0.09%-suggest a rivalry of the most delicate sort, the disparity is trifling, akin to the difference between a pin’s placement in a gown. Their dividend yields, both hovering near 0.4%, might be likened to the careful balance of frugality and generosity in a household of means. Yet it is in the realm of assets under management that the distinction becomes most pronounced: VGT, with £130 billion to FTEC’s £16.7 billion, resembles the elder sister who has long since secured her place in society, while FTEC, though charming and well-connected, remains a younger lady with promising prospects.

Behold, the survey of the American Association of Individual Investors, that most solemn of oracles, reveals a third of its acolytes shivering in the shadows of a looming bear market. A curious spectacle, this collective dread, as if the very air had been infected by a phantom recession, invisible yet palpable, like the ghost of a forgotten tax.

These twin creations of Vanguard, bearing identical expense ratios like twin brothers cursed to mirror one another, promise access to America’s growth aristocracy. Yet one (MGK) confines its gaze to the gilded palaces of mega-cap dominion, while the other (VOOG) casts its net wider, sifting the S&P 500 for growth potential. For those condemned to navigate this paradox of plenty-without-provision, understanding their distinctions becomes an act of survival.

Let’s be honest: the defense sector is like that ex who insists they’re “just trying to do better” but keeps burning your toast. Lockheed Martin? RTX? They’re out there, but their margins are tighter than a nun’s belt. Wars are still happening, but somehow, the money isn’t flowing like it should. Maybe because governments are like overbearing parents, squeezing every last penny out of contracts while expecting miracles. And let’s not forget the tech-AI, drones, whatever-it’s getting so expensive even the Pentagon’s head is spinning. If 2026 brings peace (or just a less dramatic headlines), these stocks might finally hit rock bottom. Or maybe they’ll just keep pretending they’re fine. Who knows?

SOXX, with its 30-stock pilgrimage through the semiconductor underworld, and VGT, a caravan of 300 souls across the tech frontier-both promise salvation, yet their doctrines clash. The former whispers of concentrated glory, the latter of measured prudence. Which path leads to enlightenment, and which to ruin?

Both ETFs are obsessed with feeding the tech and consumer giants’ bottomless appetite for growth, but you’d need a strong back to untangle their differences. VUG tracks the CRSP U.S. Large Cap Growth Index, while QQQ ripples happily along the NASDAQ-100. Spoiler: They both end up in the same sprawling swimming pool-just with slightly different trunks on.