A most peculiar reversal, wouldn’t you agree? Gartner, it appears, presented a financial accounting most pleasing to the eye—a triumph, one might say. And yet, the pronouncements regarding future prospects proved a most unwelcome draught. The shares opened with a decline of over thirty percent, a precipitous drop that, by afternoon, had moderated to a mere twenty-one. A slight recovery, to be sure, but hardly a cause for celebration.
They dig for rare earths and lithium, mostly in Greenland. And the Department of the Interior announced they’re expanding something called “Project Vault.” It’s a stockpile, you see. For national defense. And, apparently, to keep American businesses from panicking if the supply of shiny things gets cut off. A sensible idea, I suppose. Though history suggests sensible ideas rarely win.
The thing is, it’s not like the whole crypto thing has just disappeared. It’s just… having a moment. A slightly prolonged moment. From 2020 to 2024, Coinbase’s revenue went up more than five times – a truly impressive number, until you remember the “crypto winter” of 2022-2023, which rather dampened the celebrations. Analysts are now predicting revenue and adjusted EBITDA growth of around 12% and 6% respectively between 2024 and 2027. It’s… cautiously optimistic, isn’t it? Like ordering a salad when you really want pizza.
I confess, I incline toward the latter, though not without a degree of caution. Microsoft, despite the recent tremors, remains, in my estimation, a solid harbour for the discerning investor, a vessel built for the long voyage.
The focus, naturally, will be on those GPU sales. And, of course, on what Nvidia’s CEO, Jensen Huang – a man who appears to have made a pact with the silicon gods – has to say about the future of AI. (A future that, depending on who you ask, will either solve all our problems or result in a polite but firm takeover by sentient toasters.)
The filing reveals a pattern of cautious optimism, or perhaps a lack of more compelling alternatives. Vawter, it appears, is not so much embracing risk as attempting to mitigate it. Further additions were made to Vanguard funds—Small-Cap Growth, International Bond, Short-Term Bond, and the predictably safe Small-Cap—suggesting a general retreat to established, if uninspired, positions. The market, one imagines, will scarcely notice.
Let us consider, then, three such holdings – financial institutions, each with its own character and claim upon the future – which, in my estimation, offer a compelling prospect for the discerning investor. They are not the flashy newcomers, vying for attention with extravagant promises, but rather the established families, content to let their performance speak for itself.
They exceeded Wall Street’s expectations, which, frankly, sets a pretty low bar these days. It’s like winning a participation trophy for showing up to the stock market. Sales were up a measly 1%, while adjusted EBITDA—a phrase I still stumble over, even after years of pretending to understand it—dropped from $125 million to $90 million. My aunt Mildred makes more than that selling hand-knitted cat sweaters on Etsy, and she’s mostly selling to cats.
Taiwan Semiconductor Manufacturing – TSM – is that somebody. They don’t pick winners in the AI race; they supply the chips for all the contenders. A neutral position in a war is always a good position to be in. It’s a quiet power, the kind that doesn’t shout, but underpins everything. I’ve been watching them for a while. The stock’s been solid, but it hasn’t exactly taken off. That’s the opportunity. It’s a slow burn, but the kind that leaves a lasting impression.
This, naturally, is good news for Tyson Foods (TSN 1.78%). Not good in a moral sense, of course. Just… financially advantageous. The universe doesn’t care about morality, only about the efficient allocation of resources. And protein, it seems, is now a resource the government wants allocated liberally.