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(Value based on SEC Form 4’s weighted average purchase price of $46.02. Which, let’s be real, is a very specific number to know.)

There are, naturally, degrees of illusion. Some stocks merely offer the appearance of yield, a sugary coating on a fundamentally unsound enterprise. Others… others possess a certain grim durability. The two specimens presented here fall into the latter category, though even they are not immune to the absurdities of the modern financial theatre. Durable, yes. Invincible? Do not mistake me for an optimist.

Transaction value is calculated based on the SEC Form 4 weighted average price of $10.07. Post-transaction value reflects the share count after the sale, at the reported closing price.

The logic, as far as I can tell, is simple. People, generally, like going places. Even the ones who claim they don’t are usually just waiting for a good deal and a complimentary breakfast buffet. And as the global middle class swells – a phrase that always sounds vaguely ominous – more people will have both the means and the desire to inflict themselves upon various tourist destinations. It’s not necessarily a pretty picture, but it’s a predictable one. Carnival and Hyatt, it seems, are positioned to profit from this impending wave of humanity. They’re not curing cancer, but they are facilitating the pursuit of slightly better Instagram photos.

This stock was briefly trading at levels that suggested everyone thought Duolingo was going to solve world peace and teach everyone Klingon. A little rich, even for a language learning app. But to see it crater to around $100? That’s like throwing out the baby with the Rosetta Stone. It’s overdone. And as someone who likes a good return on investment, I’m taking notice.

These instruments, promising amplified returns, are, in truth, treacherous things. Like a beautifully crafted mirror, they reflect not reality, but a distorted, accelerated version of it. Even wielded with the best intentions, they possess a capacity for swift, dramatic loss. The ancient wisdom – know what you are investing in – is here not a suggestion, but a desperate plea for self-preservation.

Year-to-date, XRP has experienced a decline of approximately 25%. The question for investors is whether this represents a transient correction or the commencement of a sustained downtrend.

Nvidia, of course, gets all the glory. A perfectly respectable company, mind you, but one that’s become rather…distracted by its own success. A bit like a dragon admiring its hoard instead of guarding it.¹ The true unsung heroes, the quiet artisans, are those who supply the raw materials. And that, my friends, brings us to Micron Technology.