There exists a company, The Metals Company (TMC +14.06%), which dares to envision itself as the master of this submerged realm. They claim the right to harvest these nodules, to drag them forth and transmute them into profit. A bold ambition, certainly, though one not entirely divorced from a certain…optimism. One might even suggest a touch of delusion, were it not for a recent turn of events.
Apparently, everyone is clamoring for Azure, Microsoft’s cloud thing. Which is good. Very good. Demand is ‘surging’ they say. Which, translated from financial jargon, means ‘people are actually buying it.’ Their first quarter results were… well, spectacular, apparently. I’m trying not to get too excited. I’ve been burned before. The backlog is huge – nearly $400 billion. That’s a lot of… back things. It’s reassuring, I suppose. Like a really, really big safety net. But safety nets have been known to fray.
This pruning took place, according to a rather official-looking document filed with the Securities and Exchange Commission (a place filled with even more portly fellows, I suspect), during the last quarter. It wasn’t that the ETF was performing terribly – not at all! – but our portly fellow decided to reduce his stake. The value of the position shrank a bit, not from any dreadful performance, but because he sold some bits and the price wobbled about like a jelly. It’s a bit like deciding you have too many plums in your orchard – perfectly good plums, mind you, but perhaps a touch excessive.
Most dividend ETFs, you see, are preoccupied with the vulgar display of current yield – a desperate scramble for immediate gratification. The Vanguard Dividend Appreciation ETF (VIG), however, adopts a more refined approach. It seeks not the largest dividend, but the most consistently increasing one – a subtle distinction, perhaps, but one that speaks volumes about the underlying quality of the constituent companies. To qualify for inclusion, a company must demonstrate a decade of uninterrupted dividend growth, and, crucially, avoid the siren song of excessively high yields – those treacherous waters where yield traps lie in wait, disguised as opportunity. It’s a bit like choosing a slow-maturing vintage – a deliberate eschewal of instant pleasure in favor of a more enduring, and ultimately more rewarding, experience.
This isn’t about abandoning the American dream, understand. It’s about acknowledging the simple truth that even the most fertile fields eventually yield diminishing returns. The filings show FFG Partners acquiring 122,025 shares, a holding that now represents 2.38% of their reportable U.S. equity assets. A small slice, perhaps, but a deliberate one. The market often mistakes caution for weakness. This is neither.
The stock, having ascended 691% over the past decade, now occupies a precarious altitude. One might posit it is no longer a share representing ownership, but a phantom limb of the market, a lingering echo of past performance. To ask whether one should invest $1,000 in it is akin to questioning the existence of a reflection – it is there, undeniably, but its substance is… elusive.
Observe, the BITQ demands a steeper toll for admission. A princely sum, one might say. Yet, it boasts a recent return that suggests its barkers are, for the moment, quite effective. ETHA, while frugal, has suffered a bit of a…digital chill. A lesson, perhaps, that even the most promising currencies can experience a downturn. Though, naturally, the truly discerning investor looks beyond a single year.
On January 23rd, the SEC filing documented Lunate’s entry into Navan’s equity. A fractional holding, representing 1.29% of their reportable assets under management as of December 31st. One might ask: a probe, a tentative extension into troubled waters, or a mere rounding error in the grand accounting of capital flows? The answer, I suspect, is a blend of all three, seasoned with a healthy dose of pragmatic caution.
They had a quarter, apparently. “Solid growth,” they call it. What does that even mean? 325 million subscribers. Okay, fine. A lot of people watching things. But is anyone actually enjoying what they’re watching? That’s the real question. And this Stranger Things thing… 120 million viewers. All staring at screens. It’s a little unsettling, if you ask me. Like a mass hypnosis event. And the ad revenue is up, 2.5 times. Great. More commercials. Exactly what we needed. They’re making money off our misery. It’s brilliant, really. In a deeply cynical way.
Last year? Forget it. Down 60%. Lifetime high? Don’t even ask. 98% drop. It’s enough to make one reconsider the entire concept of aspiration. Still, the optimists are out there. Whispering about a “rebound.” A rebound. As if this were some sort of romantic comedy.