All the gold in the world is now worth $42 trillion, while tech stocks are worth only $40 trillion. Which would you rather buy more of as an asset protection strategy? I vote for the barbarous relic.

over 10 years. That takes the national debt from 101% to 120% of GTD. The deficit will be 5.6% of GDP in 2026. Job growth was zero in 2025, the worst since the Pandemic and the Great Recession before that. That is not what strong economies are made of.

in January, the worst report in three years. Inventories are up 3.4% YOY to a 3.7-month supply. The median home price is $396,800. It’s taking 46 days to sell a house versus 41 days a year ago. First-time buyers jumped from 28% to 31%. The West saw the biggest drop.

The deal creates a group with $2.5 trillion in assets under management. Schroders is valued at 612 pence per share, and the stock surges 29%. Mid-sized asset managers struggle vs bigger rivals. Mid-sized active stock-picking asset managers in Europe, such as Schroders, are confronting the need to combine to compete with larger U.S. rivals like BlackRock (BLK) and Vanguard that sell cheaper index trackers and other passive products. Recent multi-billion dollar deals include BNP Paribas's 2025 AXA’s fund arm, although other European merger negotiations have broken down.

by its Chinese owners, looking to bail on America. The Park Avenue landmark reopened in November after an 8-year renovation from a 1,400-room hotel to 375 hotel guest rooms and 372 residences. The transformation was five years behind schedule and more than $1 billion over the initial budget. My late wife was the international sales manager at the Waldorf when business with Japan was booming.