In addition to the six language-based programs, the Spring Festival Gala will also feature performances in Mandarin and other languages, ensuring that there is something for everyone to enjoy. From traditional folk songs to modern pop hits, the Gala promises to be a celebration of the many languages and cultures that make up the fabric of Chinese society.
President-elect Donald Trump has filled the key posts for his second term in office, prioritizing loyalty to him after he felt bruised and hampered by internal squabbling during his first term. Some of his choices could face difficult confirmation fights in the Senate, even with Republicans in control, and one candidate has already withdrawn from consideration. Former Florida Rep. Matt Gaetz was Trump's initial pick for attorney general, but he ultimately withdrew following scrutiny over a federal sex trafficking investigation he was embroiled in. Here's a look at Trump's choices: Trump would turn a former critic into an ally as the nation's top diplomat. Rubio , 53, is a noted hawk on China, Cuba and Iran, and was a finalist to be Trump's running mate before the slot went to JD Vance. Rubio is vice chairman of the Senate Intelligence Committee and a member of the Senate Foreign Relations Committee. His selection punctuates the hard pivot Rubio has made with Trump, whom the senator once called a “con man" during his own unsuccessful campaign for the 2016 Republican presidential nomination. Their relationship improved dramatically while Trump was in the White House. Hegseth , 44, was a co-host of Fox News Channel’s “Fox and Friends Weekend” and had been a contributor with the network since 2014. He developed a friendship with Trump, who made regular appearances on the show. Hegseth served in the Army National Guard from 2002 to 2021, deploying to Iraq in 2005 and Afghanistan in 2011 and earning two Bronze Stars. He lacks senior military and national security experience and would oversee global crises ranging from Europe to the Middle East. A woman told police that she was sexually assaulted in 2017 by Hegseth after he took her phone, blocked the door to a California hotel room and refused to let her leave, according to a detailed investigative report recently made public. Hegseth told police at the time that the encounter had been consensual and has denied any wrongdoing. Bessent , 62, is a former money manager for George Soros , a big Democratic donor, and an advocate for deficit reduction . He founded the hedge fund Key Square Capital Management after having worked on and off for Soros Fund Management since 1991. If confirmed by the Senate, Bessent would be the nation’s first openly gay treasury secretary. He told Bloomberg in August that he decided to join Trump’s campaign in part to attack the mounting U.S. national debt. That would include slashing government programs and other spending. Gabbard, 43, is a former Democratic House member from Hawaii who has been accused of echoing Russian propaganda. She unsuccessfully sought the party’s 2020 presidential nomination and left the party in 2022. Gabbard endorsed Trump in August and campaigned often with him. Gabbard has served in the Army National Guard for more than two decades and deployed to Iraq and Kuwait. If confirmed she would come to the role as an outsider compared to her predecessor. The current director, Avril Haines, spent several years in top national security and intelligence positions. Bondi , 59, was Florida's first female attorney general, serving between 2011 and 2019. She was on Trump’s legal team during his first impeachment trial in 2020. Considered a loyalist , Bondi also has served with the America First Policy Institute, a Trump-allied group that has helped lay the groundwork for his future administration. Bondi was among a group of Republicans who showed up to support Trump at his hush-money criminal trial in New York that ended in May with a conviction on 34 felony counts. A fierce defender of Trump, she also frequently appeared on Fox News and has been critical of the criminal cases against him. The Republican U.S. House member narrowly lost her reelection bid on Nov. 5 but had received strong backing from union members in her district. As a potential labor secretary, Chavez-DeRemer would oversee the department's workforce and budget and put forth priorities that affect workers’ wages, health and safety, ability to unionize, and employer’s rights to fire employers, among other responsibilities. Chavez-DeRemer is one of a few House Republicans to endorse the “Protecting the Right to Organize” or PRO Act that would allow more workers to conduct organizing campaigns and penalize companies that violate workers’ rights. The act would also weaken “right-to-work” laws in more than half the states. Lutnick heads the brokerage and investment bank Cantor Fitzgerald and is a cryptocurrency enthusiast. He is co-chair of Trump's transition operation, charged along with Linda McMahon, a former wrestling executive who previously led Trump’s Small Business Administration, with helping the president-elect fill key jobs in his second administration. As secretary, Lutnick would play a key role in carrying out Trump's plans to raise and enforce tariffs. He would oversee a sprawling Cabinet department whose oversight ranges from funding new computer chip factories and imposing trade restrictions to releasing economic data and monitoring the weather. Noem is a well-known conservative who used her two terms as South Dakota's governor to vault to a prominent position in Republican politics. During the COVID-19 pandemic, Noem did not order restrictions like other states, instead declaring South Dakota “open for business.” More recently, Noem faced sharp criticism for writing in her memoir about shooting and killing her dog. She is set to lead a department crucial to the president-elect’s hardline immigration agenda as well as other missions. Homeland Security oversees natural disaster response, the U.S. Secret Service and Transportation Security Administration agents who work at airports. Ratcliffe , a former U.S. House member from Texas, was director of national intelligence during the final year and a half of Trump’s first term. He led U.S. government’s spy agencies during the coronavirus pandemic. If confirmed, Ratcliffe will have held the highest intelligence positions in the U.S. Kennedy , 70, ran for president as a Democrat, then as an independent before he dropped out and then endorsed Trump . He's the son of Democratic icon Robert F. Kennedy, who was assassinated in 1968 during his own presidential campaign. Kennedy's nomination alarmed people who are concerned about his record of spreading unfounded fears about vaccines . For example, he has long advanced the debunked idea that vaccines cause autism. Rollins , 52, is president and CEO of the America First Policy Institute, a group helping to lay the groundwork for Trump's second administration. She is a Texas attorney who was Trump's domestic policy adviser and director of his office of American innovation during his first term. Rollins previously was an aide to former Texas Gov. Rick Perry , who also served in Trump's first term. Rollins also ran the Texas Public Policy Foundation. Duffy is a former House member from Wisconsin who was one of Trump's most visible defenders on cable news. Duffy served in the House for nearly nine years , sitting on the Financial Services Committee and chairing the subcommittee on insurance and housing. He left Congress in 2019 for a TV career and has been the host of “The Bottom Line” on Fox Business. Before entering politics, Duffy was a reality TV star on MTV, where he met his wife, “Fox and Friends Weekend” co-host Rachel Campos-Duffy. They have nine children. Collins is a former Republican congressman from Georgia who gained recognition for defending Trump during his first impeachment trial. Trump was impeached for urging Ukraine to investigate Joe Biden in 2019 during the Democratic presidential campaign, but was acquitted by the Senate. Collins also served in the armed forces himself. He is a chaplain in the United States Air Force Reserve Command. The North Dakota governor , 68, is a former Republican presidential primary contender who endorsed Trump after he dropped out of the running. Burgum then became a serious contender to be Trump’s vice presidential choice in part because of his executive experience and business savvy. He also has close ties to deep-pocketed energy industry CEOs. Trump said Burgum would chair a new National Energy Council and have a seat on the National Security Council, which would be a first for the Interior secretary. A campaign donor and CEO of Denver-based Liberty Energy, Wright is a vocal advocate of oil and gas development, including fracking — a key pillar of Trump’s quest to achieve U.S. “energy dominance” in the global market. He also has been one of the industry’s loudest voices against efforts to fight climate change. Wright said the climate movement around the world is “collapsing under its own weight.” The Energy Department is responsible for advancing energy, environmental and nuclear security of the United States. McMahon, a billionaire professional wrestling mogul , would make a return appearance in a second Trump administration. She led the Small Business Administration from 2017 to 2019 in Trump’s first term and twice ran unsuccessfully in Connecticut as a Republican candidate for the U.S. Senate. She served on the Connecticut Board of Education for a year starting in 2009 and has spent years on the board of trustees for Sacred Heart University. She has expressed support for charter schools and school choice. Zeldin does not appear to have any experience in environmental issues, but is a longtime supporter of the former president. The 44-year-old former U.S. House member from New York wrote on X , “We will restore US energy dominance, revitalize our auto industry to bring back American jobs, and make the US the global leader of AI" and "we will do so while protecting access to clean air and water.” Trump often attacked the Biden administration’s promotion of electric vehicles, and incorrectly referred to a tax credit for EV purchases as a government mandate. Trump also often said his administration would “drill, baby, drill,” referring to his support for expanded petroleum exploration. Turner is a former NFL player and White House aide. He ran the White House Opportunity and Revitalization Council during Trump’s first term in office. Trump, in a statement, credited Turner, the highest-ranking Black person he’s yet selected for his administration, with “helping to lead an Unprecedented Effort that Transformed our Country’s most distressed communities.” Greer is a partner at King & Spalding, a Washington law firm. If confirmed by the Senate, he would be responsible for negotiating directly with foreign governments on trade deals and disputes, as well as memberships in international trade bodies such as the World Trade Organization. He previously was chief of staff to Robert Lighthizer, who was the trade representative in Trump's first term. Wiles , 67, was a senior adviser to Trump’s 2024 presidential campaign and its de facto manager. She has a background in Florida politics , helping Ron DeSantis win his first race for Florida governor. Six years later, she was key to Trump’s defeat of him in the 2024 Republican primary. Wiles’ hire was Trump’s first major decision as president-elect and one that could be a defining test of his incoming administration considering her close relationship with him. Wiles is said to have earned Trump’s trust in part by guiding what was the most disciplined of Trump’s three presidential campaigns. Waltz is a three-term Republican congressman from east-central Florida. A former Army Green Beret , he served multiple tours in Afghanistan and worked in the Pentagon as a policy adviser when Donald Rumsfeld and Robert Gates were defense chiefs. He is considered hawkish on China, and called for a U.S. boycott of the 2022 Winter Olympics in Beijing due to its involvement in the origin of COVID-19 and its mistreatment of the minority Muslim Uighur population. Hassett, 62, is a major advocate of tax cuts who was chairman of the Council of Economic Advisers in the first Trump term. In the new role as chairman of the National Economic Council, Trump said Hassett will play an important role in helping American families recover from inflation as well as in renewing and improving tax cuts Trump enacted in 2017, many of which are set to expire after 2025. Homan, 62, has been tasked with Trump’s top priority of carrying out the largest deportation operation in the nation’s history. He led the U.S. Immigration and Customs Enforcement in Trump's first administration. Democrats have criticized Homan for defending Trump’s “zero tolerance” policy on border crossings in the first term, which led to the separation of thousands of parents and children seeking asylum at the border. Vought, 48, held the position during Trump’s first presidency. He the founded the Center for Renewing America, a think tank that describes its mission as “renew a consensus of America as a nation under God.” Vought also was closely involved with Project 2025 , a conservative blueprint for Trump’s second term that Trump tried to distance himself from during the campaign. Miller, an immigration hardliner , was a vocal spokesperson during the presidential campaign for Trump’s priority of mass deportations. The 39-year-old was a senior adviser during Trump’s first term. Miller has been a central figure in some of Trump’s policy decisions, notably his move to separate thousands of immigrant families. Trump argued throughout the campaign that the nation’s economic, national security and social priorities could be met by deporting people living illegally in the U.S. Scavino was an adviser in all three of the president-elect's campaigns and was described by the transition team as one of “Trump’s longest serving and most trusted aides." He will be deputy chief of staff and assistant to the president. Scavino previously ran Trump’s social media profile in the White House. Blair was political director for Trump’s 2024 campaign and for the Republican National Committee. He will be deputy chief of staff for legislative, political and public affairs and an assistant to the president. Blair was key to Trump’s economic messaging during his winning White House comeback campaign. Budowich is a veteran Trump campaign aide who launched and directed Make America Great Again, Inc., a super PAC that supported Trump’s 2024 campaign. He will be deputy chief of staff for communications and personnel and assistant to the president. Leavitt , 27, was Trump's campaign press secretary and currently a spokesperson for his transition. She would be the youngest White House press secretary in history. Leavitt worked in the White House press office during Trump's first term. In 2022, she ran for Congress in New Hampshire, winning a 10-way Republican primary before losing to Democratic Rep. Chris Pappas. McGinley was Cabinet secretary during Trump's first administration and was outside legal counsel for the Republican National Committee's election integrity effort during the 2024 campaign. The 67-year-old Witkoff is the president-elect's golf partner and they were golfing at Trump's club in West Palm Beach, Florida, on Sept. 15, when the former president was the target of a second attempted assassination. Trump also named Witkoff co-chair, with former Georgia Sen. Kelly Loeffler, of his inaugural committee. Kellogg , 80, is a highly decorated retired three-star general and one of the architects of a staunchly conservative policy book that lays out an “America First” national security agenda for Trump's second term. He has long been Trump’s top adviser on defense issues and served as national security adviser to Vice President Mike Pence . Kellogg also was chief of staff of the National Security Council under Trump and stepped in as an acting national security adviser for Trump after Michael Flynn resigned the post. Huckabee is a staunch defender of Israel and his intended nomination comes as Trump has promised to align U.S. foreign policy more closely with Israel's interests. Huckabee, who ran unsuccessfully for the Republican presidential nomination in 2008 and 2016, has been a popular figure among evangelical Christian conservatives, many of whom support Israel due to Old Testament writings that Jews are God’s chosen people and that Israel is their rightful homeland. Huckabee has rejected a Palestinian homeland in territory occupied by Israel. His daughter, Sarah Huckabee Sanders, served as White House press secretary in Trump's first term. Stefanik, 40, is a U.S. representative from New York and one of Trump's staunchest defenders dating to his first impeachment trial. She was elected chair of the House Republican Conference in 2021, the third-highest position in House leadership, after then-Rep. Liz Cheney was removed from the post after she publicly criticized Trump for falsely claiming he won the 2020 election. Stefanik’s questioning of university presidents over antisemitism on their campuses helped lead to two of those presidents resigning, further raising her national profile. A former acting attorney general during Trump's first administration and tight end on the University of Iowa football team, Whitaker , 55, has a background in law enforcement but not in foreign policy. A fierce Trump localist, Whitaker, is also a former U.S. attorney in Iowa and served as acting attorney general between November 2018 and February 2019 without Senate confirmation, until William Barr was confirmed for the role. That was when special counsel Robert Mueller’s investigation into Russian election interference was drawing to a close. Whitaker also faced questions about his past business dealings, including his ties to an invention-promotion company that was accused of misleading consumers. A Republican congressman from Michigan who served from 1993 to 2011, Hoekstra was ambassador to the Netherlands during Trump's first term. Oz , 64, is a former heart surgeon who hosted “The Dr. Oz Show,” a long-running daytime TV talk show. He ran unsuccessfully for the U.S. Senate as the Republican nominee in 2022 and is an outspoken supporter of Trump, who endorsed Oz’s bid for elected office. Makary is a Johns Hopkins surgeon and author who argued against pandemic lockdowns. He routinely appeared on Fox News during the COVID-19 pandemic and wrote opinion articles questioning masks for children. He cast doubt on vaccine mandates but supported vaccines generally. Makary also cast doubt on whether booster shots worked, which was against federal recommendations on the vaccine. Nesheiwat is a general practitioner who serves as medical director for CityMD, a network of urgent care centers in New York and New Jersey. She has been a contributor on Fox News. Weldon is a former Florida congressman who recently ran for a Florida state legislative seat and lost; Trump backed Weldon’s opponent. In Congress, Weldon weighed in on one of the nation’s most heated debates of the 1990s over quality of life and a right-to-die and whether Terri Schiavo, who was in a persistent vegetative after cardiac arrest, state should have been allowed to have her feeding tube removed. He sided with the parents who did not want it removed. Bhattacharya , 56, is a critic of pandemic lockdowns and vaccine mandates. As head of the NIH, the leading medical research agency in the United States, Trump said Bhattacharya would work with Kennedy Jr. to direct U.S. medical research and make important discoveries that will improve health and save lives. Bhattacharya is professor at Stanford University School of Medicine and was one of three authors of the Great Barrington Declaration, an October 2020 open letter maintaining that lockdowns during the COVID-19 pandemic were causing irreparable harm. Gaetz, 42, withdrew from consideration to become the top law enforcement officer of the United States amid fallout over a federal sex trafficking investigation that cast doubt on his ability to be confirmed by the Senate. In choosing Gaetz, Trump had passed over more established lawyers whose names had been floated as possible contenders for the job. Gaetz resigned from Congress after Trump announced him on Nov. 13. The House Ethics Committee has been investigating an allegation that he paid for sex with a 17-year-old. Gaetz has denied wrongdoing. Associated Press writers Colleen Long, Zeke Miller, Farnoush Amiri, Lolita C. Baldor, Jill Colvin, Matthew Daly, Edith M. Lederer, Adriana Gomez Licon, Lisa Mascaro, Chris Megerian, Michelle L. Price, Will Weissert and Darlene Superville contributed to this report.
Overall, the real estate market in the coming year is poised for significant changes and developments. With a focus on policy reform, technological innovation, and shifting lifestyle preferences, we can expect to see a dynamic and evolving landscape that offers new opportunities and challenges for investors, buyers, and industry professionals alike. Stay tuned for more updates on the exciting developments in the real estate market in the year ahead.Another player, known as "AvengerFan123," voiced their excitement for the upcoming season, highlighting their anticipation for new heroes, maps, and game modes. They also expressed their appreciation for the inclusive and welcoming atmosphere of the "Marvel Showdown" event, noting how events like these can help foster a sense of unity and connection among players from diverse backgrounds and interests.
Two students wounded and gunman dead after shooting at Northern California elementary schoolIn the realm of video gaming, Non-Player Character (NPC) companions have long been a staple in providing support, guidance, and sometimes comic relief to players on their virtual adventures. However, one persistent issue that has plagued many players is the incessant and often irrelevant chatter that these NPC companions engage in, making the gaming experience less immersive and more irritating. But fear not, for a new dawn is upon us with the groundbreaking introduction of the "Oath of Silence" in NPC companion programming.
wildpixel Listen here or on the go via Apple Podcasts and Spotify Courage & Conviction Investing details why it pays off to stay consistent in his small cap strategy and portfolio approach (1:55). Why he never doubted Carvana and why he's been buying Zeta (7:10). CuriosityStream's ridiculous dividend and getting into Cineverse (16:15). Really excited about BuzzFeed (30:10). Mesa, Spirit, United and the airlines industry (38:40). Recorded on November 19. Subscribe to Second Wind Capital Transcript Rena Sherbill: Welcome back to the show, Courage & Conviction Investing. Always great to talk to you, always great to have you on the episode. So thanks for doing this. Courage & Conviction Investing: Hi, Rena, it's great to be with you as well. It's mid-November here in Boston and we've had California weather since October. So exceptionally sunny, warm, dry. So I'm feeling upbeat. I'm feeling SoCal happy today. So it's good to connect with you. RS : It's funny that you say that because I'm in SoCal, and I was looking at the ocean today and watching the dolphins, and you're talking about sunny weather. And a couple of days ago, I was looking at the water, and I was listening to one of our previous episodes and you were setting the stage of September in New England. So happy to kind of keep the conversation going with the seasonality because that's a lot of what life is about. It's a lot of what investing is about and making sure that we're staying sane and profitable along the way in the different seasons as it looks like winter, as the sun comes out, what are we supposed to be doing. We've been talking a lot on this podcast recently about portfolios and how to approach investing. We've had some dividend investors on, we've had some people focusing on stocks, we've had some people focusing on various strategies. And one of the points, I think, that we're trying to put across is with all this volatility, confusion in the markets for many investors or how to understand the macro picture or how to understand stocks narratives, something that you would put forth and that you've articulated in the past is not paying attention to the macro, focusing on your strategy, focusing on what's going to gain you the most alpha. Now that we've talked a few times , we've seen some of those truisms or strategies put into reality. I love it if you started this conversation sharing maybe how you're thinking about your portfolio these days and if you want to get into some specific stocks to start with that you've been focused on or that you'd care to bring back up in conversation, happy to start there. C&CI : Yeah, a lot's happened since we spoke. As we talked about, I wrote a Peter Lynch article referencing Peter Lynch's famous phrase, “If you spend 13 minutes a year on macro, you've wasted 10 minutes.” And I remember reading Peter Lynch back in high school. So I'm 44, high school, I graduated high school in ‘99. And I was reading Peter Lynch in the 90s. So it's kind of come full circle. But I've learned a long time ago from some really smart people that it's just not a good bet to bet against America. It's not a good bet to not to be optimistic on America. It's the most dynamic entrepreneurial place with incredible incentives. So invariably, you get these very, very successful, smart, hard-charging, ambitious people from all over the world because the streets are literally paved in gold. And so if you look back at any period of time, we've climbed however many walls of worry. Sir Warren Buffett has talked about this. If you've read his work, it's all free and readily available. It just takes some time and some ability to synthesize and some patience and to turn off the noise. He talked about in the ‘80s about all the stock whispers on Wall Street trying to get rich, selling new products. And his strategy has evolved with Charlie, the passing of Charlie. Charlie got him into growth at a reasonable price and so they were a dynamic duo. But there's no question in my mind, Buffett's the greatest of all time. I don't think it's close. It's akin to Tom Brady as the best quarterback of all time. And it's really just not getting lost in the noise. There's constantly this thing to fret about, that to fret about, and the debt, wars, geopolitical, inflation, all these doom and gloom stories about the consumer. And yeah, I'm not suggesting there aren't challenges, setbacks and what have you. But again, it just has never been a good bet to bet against America. That's why it's the most dynamic pool of capital. That's why very wealthy endowments from all over the world want to invest here because the best companies are here. And so, I mean, the S&P (SPY) is up, I don't know, 25%-ish this year. It was – had a great year last year. I mean, people have been calling the top and the S&P since 3,500, 4,000, 4,200. And I just don't see how there's any alpha to be gained doing that. Yeah, you'll get a 2021 or it’s Q4 2021 to 2022, you'll have a really bad year. Interest rates climb dramatically, tech stocks got smashed, market got beat up, companies went bankrupt, but that's the creative destruction of capitalism and that's just how the system works. The forest burns in the Serengeti, the plains, and then that replenishes the soil and then the cycle begins again. So my strategy hasn't changed. Markets have done remarkably well, but I'm literally just sticking to my playbook, small cap values, special situations, speak to management team, bottoms-up, have a good thesis, do the work, have the conviction, take the draw downs, very concentrated, but at the same time, maybe spread out, I don't know, 8, 10 to 10 bets, and then I do a lot of little small things, tinkering on the side like Taleb talked about in Black Swan. A lot of innovation has been through tinkering. That's part of my process. But what I like about my strategy too is, it's so uncorrelated with markets because it's a value-based strategy and value has been out of favor for so long. But there's just – there are so many opportunities. If you do the work, you turn over all these different rocks and be willing to traverse places no one else will. And so it's been another very, very good year so far. RS : Let's get into why it's been such a good year and let's start with the highlights if you would. Carvana ( NYSE: CVNA ), a stock that you've talked about that was out of favor, that you felt like the marketplace didn't understand was mispricing, that has certainly come to fruition. If you want to talk about Carvana a bit and talk about some of the other highlights of your portfolio. C&CI : So Carvana, I did a ton of work in Carvana in the summer, June and July. I wrote a four-part free site series on Carvana. The stock was between 22 and 30. And the narrative then was they were going to 0, they couldn't handle the debt, the Garcia's were frauds, it's just the business model didn't work, the gross margin to all weren't high enough, yada yada yada. And I love to play contrarian, but it's an art and it's so difficult. Peter Thiel, who I don't really like politically, but he's definitely a brilliant guy. And he's been quoted as saying “One of the most difficult things in the world is to be contrarian to be right.” So that suits my personality. I love that art and that challenge of forging into places no one else would go with this there's incredible group think, where there's a ton of short interest and where the narrative, the perception becomes the reality. In the case of Carvana, it was a stock where if you did a lot of work on it, he said the consumer absolutely loves the process. My parents sold the car with them, was incredibly easy process. The dealership model people have hated, they feel like they get ripped off on the purchase. It's just this terrible experience, especially used cars. And so the Garcias had the vision, the foresight to say, this is a massive addressable market. It's never been done before. We're going to scale this business. And what people miss was when they bought ADESA, the auction business, I thought that was absolutely brilliant because it helped them in terms of positioning, saving them money in terms of the transportation of the cars. If the site goes the wrong way, they could blow out inventory, lose some money, stick and move, kind of reevaluate. And they did a brilliant exchange offer that the Garcias pulled off the bondholders. And so that pushed the gun against their head off because the platform was literally burning. That gave them time. And then as the market got really tricky, they took tremendous market share and it's just played out really, really well. Now, it's probably overvalued here. It's hard to value it. But the market's kind of looking at this like as Amazon ( AMZN ), how it's winner take all. And when you have that type of scale, you have that type of brand, you have those type of gross margins. If you flow that through sort of a fixed cost, I mean, it’s variable and fixed a base that they're looking at the out year earning power. And so that's why the stock is up 10x. That's in a nutshell what happened there. But just recently, speaking of run into burning buildings, I've been buying the heck out of Zeta ( ZETA ). Last month, I've never owned the stock since last Monday. They had fantastic numbers, beat, raise, and they said, “We feel comfortable where 2025 is.” They talked about how this consensus estimates, they talked about how their RFP business quote is up 60%. The CEO is very intelligent, David Steinberg. He gave a great conference call in excruciating detail. The stock was up on the knee jerk from like 37 to 46 and after hours and then I saw a reverse. And so that got me interested at the stock was like 35. I started buying some. Next day, it's 28. I'm like, what the hell is going on here? These numbers were unbelievable, beat and raise. Steinberg owns a ton of stock. He founded the company, I believe, in 2007. AI marketing. It’s just – everything made sense. They have all these great customers. The return on investment for the customers is fantastic. They have 40% of the Fortune 100. Well, lo and behold, I was on a conference call last Tuesday with the C-Suite of BuzzFeed ( BZFD ), one of my big holdings with Jonah, Matt, and Amita. Get out of that call was fantastic. And Zeta, which I put a pretty decent size position on, the stock is like 23. I'm like, “What the hell just happened?” So there was a short report by this outfit called Culper. I have no idea who the hell they are. And so that's the next thing I know. The stock is like $20 and now I have a decision to make because I have a big – I had a big position on, it's like, “Do I take a big loss?” I owned it at like, I don't know, upper 20s at that point, or am I going to go big here? And I said, “I'm going to go big.” And so I bought a bunch at 20, 17, 16. And this was like literally, there was a gun to my head because this was before Steinberg came out with this – refuting the story before all that's happened. Well, lo and behold, Jeff Feinberg, who was like the head trader for Soros, bought a 5% position, he filed it this morning. Feinberg is one of the smartest guys out there. He was in Bitcoin really early. I know people who work with him, so this guy is absolutely brilliant. And lo and behold, he puts up $200 million or whatever. I don't know what he bought it at, but he bought 5% of the company. Steinberg has been on the media circuit. He's done a great job explaining how the accusations are complete BS. They got the auditor wrong. They don't understand the business. And so anyway, I own it in size, like the 20s, 23-ish. But that's the type of trouble that I like to get myself into. But I’m willing to charge into burning buildings when I feel like I'm right, when I feel like it's contrarian and when I feel like when I synthesize a situation, I'm getting paid to take risks . So that's a more relevant story to a Carvana, but I think there are some parallels to it where sentiment drives like ridiculous movements, overshoots, undershoots in both directions. RS : What would you say about the buyback that they announced recently over at Zeta? C&CI : Well, I mean, if you listen to some of his interviews, there was a guy on CNBC, I forget his name, that had a great interview, then he had the Tom, I believe, Tom Lee, who's had an incredible record in tech and been bullish and been right. He's bullish in the S&P, first to call $6,000 . The S&P has been long, I think Bitcoin since $4,000, long Apple ( AAPL ) for decades. So two really, really good interviews. But I think they're saying, “Listen, this stock should be 40 on the screens based on our fundamentals, how strong the business is, how the business is inflecting, the growth of EBITDA, free cash flow, how they're ramping up their sales force, how the product expansion, how Zeta Live had like a thousand CTOs in the audience, both live and virtually. I mean, what is the probability that a PhD from MIT, Stanford, Caltech, some of the best places in the world, that it's so difficult to become a CTO for a Fortune 100 company, that you're fooling all these people? I think it's astronomically low probability. And Steinberg came out in the board, so they're going to be in the market buying the stock. And so I just think it's kind of a unique contrarian setup. But again, these are the type of situations, these special situations where you like to get – I like to get into trouble but it's an art. And the only way to get better at this is to do that type of stuff. But again, it's very selectively because you only have nine lives as a cat and you better use them wisely. So anyway, that's that story. RS : Another stock I wanted to ask you about and speaking to the point that we've had dividend investors and dividend strategists on, one of the stocks Edward Schneider was on a few days ago talking about CuriosityStream ( CURI ). That's a stock you've written about on the free site. I don't know if it's one that you get deeply into and Second Wind Capital, in your investing group. Care to share your thoughts around CuriosityStream and what your bullishness is? C&CI : Yeah. So basically, I follow 300 companies and I'm a militant about – every morning, I'm up at, I don't know, 4:30 to 5:30 and I literally check Seeking Alpha's – I have like all these different portfolios set up, tracking portfolios and I religiously check the press releases every 15 minutes, 6 o'clock, 6:15, 6:30, 7:15, I'm sorry, 6:45, 7, all the way to 9 o'clock. And this was after hours. I forget when it was. I was just doing my normal routine. I don't ever want to miss anything. And I read, I said, CuriosityStream is instituting a dividend. The stock was $0.60, okay? I said, “Oh my God.” And I alerted my group and we bought the hell out of this thing between $0.69 and $0.75. So at that time, that was a ridiculous dividend. They had tons of cash. The cash burn was getting much lessening, approaching positive EBITDA with a ton of cash on the balance sheet to fund the dividend and they have a good library of content. So it's just like crazy, stupid, mispriced, first-movers advantage. Now in fairness, I didn't play it well because I was sized up at like $0.75. I want to say I sold at $1.25. I don't know why. That was a mistake in retrospect because it hit 3, but it was a high probability bet at $0.75. I haven't followed it closely, but something somewhat similar and related, which I've written on this free site is called Cineverse ( CNVS ). In addition to working with SA and running family money, I work with three advisers. I have a family office in Greenwich, then New York and there's another family office. And so I started talking about Cineverse privately to my group on October 18th, where I broke it, the stock was 2.10 and I teed up the situation. We own about 4% of the business across all accounts, excluding my Seeking Alpha members. So I have no idea how many shares they own. And this is one of the most incredible setups in micro caps. What basically happened is they own the rights to Terrifier 3, which did $54 million at the box office domestically. The way the math works just kind of synthesizing what you can find on Google and reading Reddit posts and whatnot is when you sell a movie at the box office, you get 45% unless you're a big Hollywood studio of the money of the box, of the gate, so to speak. And the way the math, I believe, worked here was they had a loan for like $3.7 million with interest. And then they had marketing expenses to market this. And so the first $12.5 million at the box office, they get 45%. They get, I believe, get 100% of that, where they can pay back their debtholders and they can get reimbursed on the expenses. And then from $12.5 million to $54 million, you multiply that by about 20% or 19%. So for a company, and we were buying at like a $33 million market cap, they had like maybe $5 million of debt. Now granted back on October 15th, they hadn't done $54 million in at the box office. But that to me, it looked like a pretty good bet, given how strong they came out of the gate. And so this is a company that's going to get a $14 million cash windfall, okay, with a $33 million market cap. And then when I read the conference calls and I synthesized it, I said, “All right, they took $9 million SG&A out of cost past year. They own Match Point, which is an incredible technology. So they have the ability because they own $40 million library of film, of content. Because they run 30 different fast channels, including Bob Ross channel, Dog Whisperer and whatnot. So they spent tens of tens of millions of dollars to build this technology. It's unmatched, it's unrivaled. And so with AI, when these AI engines want to ingest this data, the video, it doesn't work for Hollywood studios and that was a great explanation of that on the conference call. Corsair is a $0.5 billion fund. They took a 5% stake. Jay was on the conference call and they explained it. So the other thing is if you think about the ecosystem, they own all these FAST channels, so there's 80 million views I believe, and they have cineSearch, which they're working on Google ( GOOG ), which should be very valuable. They own Bloody and Disgusting, which is I believe one of the top 20 podcasts in America. They got a great podcast business and they also own a streaming business called Screambox. So they should dominate the horror genre and they can replicate this playbook what they did with Terrifier 3. They already signed another deal for next Christmas. So it's an incredibly exciting business. No one knows about it. I put it on the free site with a lag. No one's ever heard of the company, everyone's looking backwards and I'm like, “This is a layup, okay?” The business is literally inflecting. This thing could be a $10 stock. How the hell will we be able to buy, what do we buy, 600,000 shares of this thing, between 175 and 230 or 240, whatever the heck we paid for it. And so it'll be very interesting to watch what happens, but they just reported last week, they had a good Q2, their fiscal year ends starts April 1st. So the Q3, which is December 31, 2024, they're going to blow the doors off of numbers. And the analysts, the two analysts that cover it, Benchmark and Alliance, they'll take their numbers up. That's, I think, why it's one of the stocks having a nice move today. But what's so lucrative about this stuff? When you get these things right that no one knows about, no one's thinking about, is there's only 15.7 million shares outstanding and management owns a ton of stock. Corsair owns 5.5% of the company. So there's not a lot of float available. So that first-mover advantage is incredibly valuable. But if the stock moves up a point, that's 50% on your original basis, thereabouts, right? And it's only a $15.7 million change in market cap. Because of the tremendous free cash flow, they're going to pay off all their debt, they're going to license Terrifier 3, I believe, to Amazon, because Terrifier 2 is on Amazon 2. And then they'll have ancillary revenue through that share. They have first right of refusal Terrifier 4, and they could put it on ScreenBox, which is $4.99 a month. And then they can sell DVDs to Walmart ( WMT ). So bundle Terrifier 2 and Terrifier 3. Those are the gems. I try to find one or two of those a year. I've been better at finding. And this idea came from the guy I work with in Greenwich who's had a family office for 20 years. His fund got up to $180 million and he's got a big Wall Street network. He said, “Hey, take a look at this thing. I think you may like it.” And then I dropped everything. I spent like eight hours working on it that day and I said, “Oh my God, this is amazing.” Those are fun. Those are special. And again, if you get two of these a year, and I've been good about finding two, three, four sometimes, that's how the serious, serious money gets made. The only issue is the liquidity has stepped up a bunch now, but it's still a small company. So it's not anything any big players could size. But for retail investors, like, I'm sure I have members that bought 5,000 shares, or maybe 10,000 shares. It's a good one, right? You buy it at $2, $2.25, $2.40, and I think it was pushing $3.90 today, and I think it'd go a lot higher. But again, it's going to be very volatile, but that's the magic. That's what I'm trying to find. That's what I'm trying to get back to. And it's really just a function of bandwidth. Like how do you spend your time? Bandwidth is incredibly valuable. You never know when you're going to see a great idea. But if you're not in the trenches every day, learning, reading, synthesizing, getting better, learning from mistakes, you're going to miss these things. Because there's no bell that rings and says, “Oh, there's a great opportunity like you have to go and get them. You have to go find them. You have to be on a quest.” It's an adventure. You're going to have setbacks, but you have to stick to that North Star. And that's what we're trying to do. RS : Keep going Frodo, keep going. When you get a recommendation on a stock, what's the first thing you look at or is it stock dependent? C&CI : It's bespoke. I don't do any quantitative screens ever. It's an organic thing. I'm looking for inflection points. So value can take shape in two ways. It can be growth at a reasonable price or it can be ridiculously cheap and mispriced. For instance, Regis ( RGS ), which owns the franchise rights super cuts, I had covered it. It had done well for a while then it kind of struggled. I was actually out of the stock because I didn't think they could handle the debt. They had $180 million in debt, $25 million EBITDA, cash interest was 20%. I thought they were going to file bankruptcy. I think it was June 25th, I woke up doing my work, doing my work, 6:30. I see this 8-K that Regis refinanced its debt. I was like, what? I read the 8-K, Bank of America forgave like $80 million in principal. Now, some of that was PIK interest and they had been paying them for a while, a lot of cash interest, but they literally walked away from the debt and they got TCW, a private equity fund, to basically take the debt over at $90 million and then they TCW out of their fees. So overnight on a company that had a market cap of like $20 million, they got $80 million of debt forgiven. So I said, “Oh my God, I read the 8-K like five times. I was like, what the hell – what am I missing? And we bought the hell out of it between 5 and 6.25, 6.50. I sent out multiple alerts to my group. We loaded up on the thing. The thing opened at like 14 and hit like 24 that day. In fairness, I sold it at 12, because I doubled my money and I had a huge position and ended up hitting 35 because I don't like the business. And I had some people make 3x, 4x, 5x, which is great, all good. But it's that first-mover advantage of playing in companies and in situations and having that situational awareness. So you can synthesize news much faster than any algo because you know the business, you've read the conference calls, you know the drivers of how these businesses move. Again, you don't get these that often, but when you do, you print money, right? If you get two or three of these a year, it's just stupid the type of returns you put up. I had a slump that I broke out of in a massive way recently, but I was literally in a slump for like a couple months, just making a little bit of money, but grinding, nothing happened, losing on this, making on this, trying to keep my head above water, fighting through it, wasn't seeing the baseball, just was, I was like Aaron Judge in the World Series hitting like 120 or whatever he hit or two. But all of a sudden, you stick to your process right and then all of a sudden you start to see the baseball again and you start knocking it over the fence and then you see another ball and the ball looks like a watermelon, right? It looks like it's in slow motion, a watermelon, and you knock another one over the fence. And you feel so good after that because these slumps are nasty, and they drain on you and they wear on you, but it's all par for the course. It's all part of the process because there's nothing linear, right? Just two steps forward, one step back. And that's just kind of how it is. But again, it's all slugging percentage. I think I mentioned that in the last call that we had. And so if you can hit two, three big hits a year, you are going to destroy the indices, right? That's just how the math works. And you can strike out and you can miss stuff and you can have management teams lie to you and you can get fooled. But as long as you hit a couple of long balls, net-net, the math just works out where you're going to compound at very good rates. And so that's what this year's been. It's been another great year. And I got a couple of really exciting things that I'm waiting on that could play out, especially BuzzFeed between now and year-end. I've been in BuzzFeed since February of 2024 and I was buying the stock at like a $1.5 in the Connecticut sleeve, family sleeve, sleeves and I literally saw a thesis that no one else saw they thought I was crazy, they were going to default and I was like “No, no that's absolute nonsense. This business is inflecting, they own great businesses with BuzzFeed, with HuffPost, you have the election coming. I was on the phone with Jonah and Matt multiple times after earnings calls. My sense is Jonah wants to win. Jonah's very intelligent. Matt's a great CFO. And I said, “No, I'm not buying into that narrative”. They also own Hot Ones, which is an incredible show with Sean Evans. For instance, before the Wolverine Deadpool movie, Ryan Reynolds and Hugh Jackman came on to Hot Ones and they went through the Hot Ones of Death Gauntlet and they had 30 million views on YouTube. You have A list stars like Ariana Grande wanting to go on Hot Ones. A celebrity has a new book, they have a new movie, they have a new podcast. They want to go on Hot Ones. They love Sean Evans, right?. And so I'm like, “Okay, yeah, you got $120 million of debt, you got $45 million of cash.” But then I said, “Well, wait a second, they're going to crush it, Q4 with HuffPost, with the election spend, you're going to get higher CPMs on the programmatic side. They're crushing it on the affiliate business with Amazon. We saw that in Q3. They just had an incredible Q3 if you model it. And I said, there's no way in God's green earth, Jonah is going to default because his sister is married to Jordan Peele, who's one of the biggest directors in Hollywood. He probably knows Reed on a first-name basis because there's talks that Netflix ( NFLX ) wants to do something with these guys. So I'm like, there's 28 ways to Sunday I'm going to win. Now it hasn't been decided yet because the debt is puttable December 3rd and it remains to be seen if they can navigate it. But I literally bought this thing at 1.5, added it. So I had my basis was like upper ones. Vivek Ramaswamy bought an 8% stake, stock spikes to 4.5%, goes to 2% in my face. You idiot, Courage & Conviction, why didn't you sell it? It was at 4.5%. Because I said, “Well, I did sell some, a third of it or maybe 40%. But then I reloaded all in the 2. I said, “I'm betting on my thesis.” I think it's a brilliant thesis. I don't care about the stock prices. I don't care if it's $2. The tail doesn't wag the dog. And so we'll see. I'm hoping it happens before Thanksgiving. They may take this thing to the wire, but I've learned the hard way and you play in distressed debt, distressed equity. If the business is inflecting, the terms of leverage are less than 4x, especially if it's less than 3x, on modeling, they're going to do monster Q3, Q4 free cashflow. Let's conservatively say EBITDA is $25 million, $30 million. Net debt, they just reported Q3, $54 million in cash, $120. It's not that levered, plus you could sell Hot Ones. There's a possibility of Netflix. It was just one of those sweet setups, and we'll see, I think it's like mid-3s today, it's super volatile, a lot of hot money day traders, but I'm playing this thing out, and we talked about it, right? I've been in it since, again, 1.5 and averaging up. And I think if I'm right, it's going to be 5-plus. The trifecta would be blow out Q4, so that'd be $30 million EBITDA. So $25 million free cash because they have to pay the interest payment on the debt, 8.5% convert. Then get a refi, then get Netflix, a Netflix Live Miniseries with Evans. Now that would be perfect. We don't live in a perfect world. I'm not betting on that. That would be the best-case scenario. A good scenario would be they do at least $25 million EBITDA, they get a debt extension, they get some type of refi and maybe they don't get Netflix. They've been trying to sell Hot Ones, but I know they want to get the right price. So again, there's just multiple ways to win. But when the stock, you buy a stock at $1.5 goes to 4.5, you're up pretty big, then it goes back to $2 in your face. But there's only 37.5 million shares outstanding. So again, a $1 move, $2 move in the stock price is nothing in market cap. And then you have the optionality of becoming more of an AI company. They've shown signs with Shrek and Minions and Vote Kamala, AI tools. And so, I don't know, that's the stuff that works, that I'm looking for. And again, I mean, some of the names we talked about before , they've struck out, like I got smoked on Red Robin ( RRGB ), completely smoked. Owned it at 11. Stock went to 15, didn't sell it. And I just felt like management completely lied to me, they haven't delivered. And I was sold half at 8, then the rest in the 4s. I got smoked on that thing.– RS : Is that part of the game? Is it speaking to the Red Robin affair and management lying to you and not always being able to suss that out? Is that just... C&CI : The mistake I made on Red Robin is this. RS : Yeah. C&CI : They have their first quarter 16 weeks versus the traditional 13, 13. And Q1 of ‘23 was amazing. They crushed it. But what happened was it was a unique period of time where there was benign competition. You had record food inflation, but it was in the second derivative decline and labor was very tight. So in a highly competitive dog-eat-dog market share hunt business, there was a placid, ceasefire olive branch, not in the collusion type of way because this is so fragmented, where the industry was so battered by this inflation, you could pass through the food inflation and some of the labor inflation. And then given the amount of sales this thing had, they put up a monster cute quarter. And so then you throw that in with a fancy narrative that management have, we talked to them multiple times. And I just feel like they completely lied to my face, just completely lied to me and I wasn't smart enough. I did see signs, like I saw the like Applebee's $9.99, burger deal, Bacon Burger. I saw the fast food wars kind of ramping up and I just kind of ignored it because I said the valuation is so cheap that the – it's looking backwards. And they've absolutely whiffed and it hurts because you do all this work, you believe in it, you believe in a team and they completely fail. Now there are some activists involved now I have no idea what they're going to do to turn around this business. I haven't a clue. I took my medicine and I kind of move on. So, it is par for the course. You are going to swing and miss. You're going to think you have a good thesis and you're going to miss something. There's going to be an oversight. But again, if you're playing 8 to 12 names, okay and again better risk management, we should have sold all of it at 8. So it wouldn't even have been that big a deal. You were in at 11, goes to 15, okay, great, you give back a big gain. You're out at 8, you lose 3 points, no big deal. But the second tranche selling it in the 4s, that hurt, and that was just an unforced error, but again, par for the course. So you learn from it, you try to get better and it's just part of the game, but in small caps, it's literally pretty much 90% management. You can have a great concept, great inflection point, but if management cannot execute, then usually nothing good happens. RS : Something that you did seem to see was Spirit Airlines ( OTC:SAVEQ ), which has been in the news for bankruptcy and some really heavy bad news over there. Anything to point out there in terms of what you saw or what you were able to see or how investors should be thinking about that part of the market? C&CI : So what happened was, I did a ton of work on Mesa ( MESA ), which I still own. I bought Mesa originally like, I don't know, a while ago at like, I don't know, 1.50. It hit like 3.5. I think I got sold a little bit and then I forget. I might get stopped out for like, I don't know, maybe at even. But I did a ton of work on Mesa and then I got back on the horse and I figured I listened to all the United because United is their big sponsor. So Mesa gets paid a fee to fly regional traffic to connect the United's hub-and-spoke business. And United ( UAL ) has the best CEO in the business and the best team and they had the foresight to make massive investment five years ago when no one else is making that investment. Forget about that. They're crushing it internationally. But they basically drank Spirit Airlines and the low-cost carriers milkshake. And so when I synthesize all those calls, because United is such a big backer and been an incredible partner for Mesa Air. I basically synthesized and worked out because the CEO and the upper management explained what they're basically doing in a competitive landscape to the spirits of the world. And so they were flying bigger jets and it's a little bit complicated. But I saw that and I said, “All right, there's so much debt, the pilots are so expensive, all the costs were going up, jet fuel was expensive, and I saw the debt. And once the JetBlue ( JBLU ) deal didn't work because of antitrust, I said, “If you looked at the balance sheet, it looked very, very unlikely that these guys weren't going to file. And Dave Portnoy of Davey Day Trader, he's a brilliant entrepreneurial guy. but he knows nothing about stocks, okay, literally nothing. And he's telling all his followers, his millions and millions of followers to buy the stock. I'm like looking at this balance sheet, I was like, what the hell is this guy talking about? And so unfortunately they filed this morning. And it wasn't that difficult to see if you just looked at the trajectory, if you did any work on the industry and you looked at the balance sheet. But the real tell on the key was with the work that I did on United to get comfortable. And again, Mesa is high risk. Don't get me wrong. I think they've worked incredibly well to support Mesa, United has. And so I think they get to the other side, but it may not. But I do still own some of the stock. But because I did all the work on United as part of my Mesa work, I was able to synthesize the changing wins in the industry . And then you layer on top of that the balance sheet and I was like “These guys aren't going to make it unlikely. I don't short stocks. I occasionally buy a put – a couple of puts here, small money, but I'm not a short seller. And so unfortunately it looks like a lot of retail people got hurt here and it's too bad. And look, Dave is a real entrepreneurial guy, but he has no business giving stock advice. So it's too bad. RS : Are there times with Second Wind Capital with your subscribers over there that they're pushing to short stocks or that they want to short stocks or that you’re – that they're pushing against advice? Do you run into that at all? C&CI : I just don't short stocks. I will occasionally buy some puts. I got some puts on CAVA. I had some puts on one or two other things, but it's really not what I do. I'm not a short seller. I hate how short selling is done. I'll give Hindenburg credit. He has done some very good work. He's been right three out of four times. Outside of Hindenburg - and then the guy who actually ironically shut down his fund, I can't think of it, channels. I just think it's an incredibly difficult business. I get that long short hedge funds have to do it to be market neutral. I get the pod shops that are five, six times levered have to do it. I just – I'm not into shorting. The math doesn't work for me and I hate thinking like a short. Look if you want to be right because you have a brilliant thesis and it's part of a long short portfolio, that's fine. But I hate the hit reports of a Zeta, right? It's just a hit report. You did a bunch of hyenas, they all team out, they all coordinate. They all get short ahead of the report. The report comes out, they put more pressure on it. People retail, get whipsawed. I had people in my group saying, “You're crazy, why you’re buying this? And I said, “Listen, I don't care what these people think.” If it was Hindenburg, I'd have to really think twice because they've had some great calls. But I've never heard of [indiscernible] (45:01). I don't really care who the hell they are. The arguments didn't really make any sense to me. I mean we'll see how it plays out. But I think unless you're a highly sophisticated family office hedge fund or very wealthy individual maybe running a long short book makes fund sense, I don't think it makes sense for the average person, and it's a dirty hedge for a small-cap portfolio. Like if you're long 10 or 12 idiosyncratic names with different industries, different catalysts, different risk parameters, shorting the S&P is so stupid. Shorting the Russell is stupid. The median market cap of the Russell is like a billion dollars. So if you own companies that have $50 million, $100 million, $200 million, $300 million market caps, it's not a good hedge. You get $2 billion, $3 billion companies in the Russell 2000, right? The NASDAQ, you can't short the NASDAQ against a small-cap book. It doesn't make any sense. So I don’t – you always hear about someone gets a great short call, right, they had puts or they did this, they look like a hero, it garners all this media attention. But in the media, it's a place where we hear about winners, we don't hear about the strikeouts, we don't hear about the losers and very few people actually boast their performance. It's again, it's a boastful, belligerent at times, a bar room wild west atmosphere where everyone's just banging their chest about how they're so wonderful and how they've never missed a – they've never bought a stock that went down and never made a mistake. It's just kind of comical, unfortunately. RS : Well, thank you for another great conversation for listeners interested in more. There's Courage & Conviction Investing, the profile on the free side of Seeking Alpha. And there's Second Wind Capital , your investing group that investors can find more personal and detailed attention. Anything else you want to leave investors, listeners with before the end of this conversation. And again, really appreciate it. C&CI : Thanks, Rena. I would just say where I'm trying to evolve, if anyone's considering the service, I'm trying to get away. I would do a lot of tactical and I'd have a long book and I'd run it in parallel. I'm trying to get back to the more of the six-month to 12-month type of ideas where you can make some good money on the tactical side, especially around earnings season, you know the companies and you synthesize them well, but it just takes an incredible amount of bandwidth. And so I've been blessed, I'm working with this guy that's worth like, I don't know, let's just say, well in excess of nine figures, he's brilliant. I've met him through Seeking Alpha, so I'm grateful for that. And I'm learning a lot from him, but I'm still running the group and have three kids and my wife's got a huge job. And so I'm drinking from a fire hose. But what he's trying to get me to think about is like, let's focus on ideas where you have really high conviction, where we can put $5 million in an idea. It's fun to bet here or there and it's fun if it works. But you're spending all this bandwidth and all this energy and all these ideas and even if you're hit for 70%, you're going to make money. But the serious, serious money is getting a couple of ideas right and making them multi-baggers and that's how you compound. So I'm kind of really getting away from the tactical stuff. I'll still do it. So if anyone's considering it, I don't want to misrepresent it. It's more of trying to find the BuzzFeeds the Cineverses, the Arq ( ARQ ), which I've owned for years. Those type of bets, I'll probably sprinkle in a few tactical things. But I just don't have the bandwidth to try to come up with a new winning idea every day. And I just don't think it's something that can scale and you can consistently compound that formula. Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.Bitdefender reports that an SMS phishing campaign has targeted Netflix users in 23 countries in an attempt to steal login credentials, personal information and even credit card information. In a new blog post , the cybersecurity firm details how this scare campaign, which may have begun back in September, is a popular method that's often used to trick customers into thinking that they haven’t paid for their subscription and that their account will soon be suspended. The SMS message sent out to potential victims provide them with a link to click and authenticate their account. They're also prompted to update their credit card information in order to keep their account current. As you may have guessed, these sensitive login and financial details aren't going to Netflix. Instead, they will be re-packaged and sold on the dark web . This way, the scammers behind the campaign get paid while the hackers buying this data have a wealth of new credentials and credit card details to use in future attacks. This particular SMS phishing campaign appears to have spread to 23 countries including the United States, Germany, Spain, Australia, Greece and Portugal. While the link appears authentic at first glance because it looks official and uses Netflix’s name, some who receive it will be savvy enough to avoid clicking through. However, because there is a sense of urgency created by the potential of losing access to a Netflix account, less knowledgeable users may click the link and enter in their information. How to stay safe from SMS phishing scams It’s important to know that Netflix does not contact customers via text messages and most companies don't. While it doesn't offer 2-factor authentication for additional security there are other ways you can protect yourself and your account. First make sure that you have a security solution, like one of the best antivirus software suites or one of the best Android antivirus apps , set up on your devices to protect against malware and malicious threats. From there, you never want to open links from unknown senders as well as from unexpected senders too. When in doubt, don’t follow a link but manually visit a website by typing its address into your browser's search bar. That way, you can verify your account information and see if the text you received is real or not without having to click on any suspicious links along the way. If you have visited a shady site though, make sure to change your password and cancel your credit card if you happened to make a purchase there. Hackers and scammers love to impersonate Apple, Microsoft and all of the other top tech brands, so it's not surprising they've started using Netflix as a lure in their attacks, especially ahead of the holidays. It's up to you to check every email, text and even message on social media you receive with a careful eye to avoid falling victim to a scam like this. However, if you keep your wits about you and avoid clicking on suspicious links, you and your Netflix account will be safe. More from Tom's GuideTotal words: 536
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Moreover, conflict highlights the growing social tensions and divisions within Taiwanese society. Political polarization, generational gaps, and cultural clashes have created a climate of hostility and mistrust among different groups. The inability to navigate these conflicts constructively has further deepened the societal rifts and hindered progress towards unity and cooperation.Thousands still queuing to vote after Namibia polls close
Albany (NY) 93, Tarzans 50Israel to close embassy in Ireland due to ‘extreme anti-Israeli policies’: Foreign MinisterThis strong performance further solidifies TSMC's position as a key player in the global semiconductor industry. The company's advanced manufacturing capabilities have enabled it to meet the ever-increasing demand for cutting-edge semiconductor products across various sectors, including consumer electronics, automotive, and data centers.
Japan's famous sake joins UNESCO's cultural heritage list, a boost to brewers and enthusiastsAs the countdown to CES 2025 begins, the spotlight is turning towards Hesai and their highly anticipated unveiling of the Mini 3D Lidar in the robotics sector. With a reputation for innovation and cutting-edge technology, Hesai has positioned itself as a key player in the development of advanced sensor solutions. The debut of the Mini 3D Lidar marks a significant milestone in the company's journey towards shaping the future of robotics.Chikkamagaluru (Karnataka): Actress Shilpa Shetty on Sunday donated a life-size mechanical elephant to Shri Jagadguru Renukacharya Temple here to celebrate the centenary birth ceremony of Shrimad Rambhapuri Veerarudramuni Jagadguru. Launching the mechanical elephant called Veerabhadra, Karnataka Minister Eshwar B Khandre said that technology has made it possible for temples to have elephants without having to keep them in shackles. Shri Jagadguru Renukacharya Temple at the Rambhapuri Peetha has decided never to own or hire live elephants. Lauding the temple's decision, Khandre, who holds the portfolios of Forest, Ecology and Environment said, "Many other temples and maths have requested me to donate an elephant. But as per the Wildlife Protection Act, 1972, we cannot donate elephants to any other temple. Under these circumstances, new technologies have come, like the robotic elephant ." — PetaIndia (@PetaIndia) The elephant donation to the temple was facilitated by People for the Ethical Treatment of Animals (PETA) India and Bengaluru-based animal welfare NGO, Compassionate Unlimited Plus Action (CUPA). 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The forest minister thanked PETA, CUPA and the actress on behalf of the forest department and Karnataka government. "It's the need of the hour, and they (elephants) have a right to live on this Earth." Karnataka Energy Minister K J George and Member of the Legislative Assembly of Sringeri, T D Rajegowda were present. Shri Jagadguru Renukacharya Temple is the first shrine in Chikkamagaluru district to have this technology. Veerabhadra will be used to conduct cruelty-free ceremonies at the temple, helping real elephants stay with their herd in the jungle. Appreciating the efforts of PETA India and CUPA in donating mechanical elephants to temples, chief swami of the Peetha, Rambhapuri Jagadguru, said, "We encourage more temples and maths to join us by welcoming a mechanical elephant." According to PETA, most elephants held captive in temples and other places suffer from excruciating foot problems and leg wounds due to chaining to concrete for hours on end and many become frustrated and lash out, sometimes killing mahouts or other humans or animals. Quoting figures from the Heritage Animal Task Force's report, PETA said captive elephants killed 526 people in Kerala in a 15-year period. PETA India had also facilitated the donation of a mechanical elephant to Irinjadappilly Sri Krishna Temple in Thrissur, Kerala, with the help of actor Parvathy Thiruvothu. According to PETA India, now, at least 10 mechanical elephants are used in temples across south India, of which it has donated six. (You can now subscribe to our Economic Times WhatsApp channel )Sipavibart is a monoclonal antibody commercialized by , with a leading Phase III program in Coronavirus Disease 2019 (COVID-19). According to Globaldata, it is involved in 6 clinical trials, of which 2 were completed, 3 are ongoing, and 1 is planned. Smarter leaders trust GlobalData The gold standard of business intelligence. The revenue for Sipavibart is expected to reach an annual total of $28 mn by 2036 in the US based off GlobalData’s Expiry Model. The drug’s revenue forecasts along with estimated costs are used to measure the value of an investment opportunity in that drug, otherwise known as net present value (NPV). Applying the drug’s phase transition success rate to remaining R&D costs and likelihood of approval (LoA) to sales related costs provides a risk-adjusted NPV model (rNPV). The rNPV model is a more conservative valuation measure that accounts for the risk of a drug in clinical development failing to progress. Sipavibart Overview AZD-3152 is under development for the treatment of coronavirus disease 2019 (COVID-19) caused by the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). It acts by targeting spike protein of SARS-CoV-2. The drug candidate is an investigational next-generation long-acting antibody (LAAB) and administered through intravenous and intramuscular routes. AstraZeneca Overview is a biopharmaceutical company, which is focused on discovery, production and commercialization of a range of prescription drugs. It develops products related to therapy areas such as respiratory, cardiovascular, renal and metabolic diseases, cancer, autoimmune, infection and neurological diseases. The company’s product portfolio includes biologics, prescription pharmaceuticals and vaccines. sells its products through wholly-owned local marketing companies, distributors and local representative offices. The company markets its products to primary care and specialty care physicians. The company operates in Europe, the Americas, Asia, Africa and Australasia. is headquartered in Cambridge, Cambridgeshire, the UK. The company reported revenues of (US Dollars) US$45,811 million for the fiscal year ended December 2023 (FY2023), an increase of 3.3% over FY2022. In FY2023, the company’s operating margin was 17.9%, compared to an operating margin of 8.5% in FY2022. In FY2023, the company recorded a net margin of 13%, compared to a net margin of 7.4% in FY2022. The company reported revenues of US$12,938 million for the second quarter ended June 2024, an increase of 2% over the previous quarter. For a complete picture of Sipavibart’s valuation, From Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors. , the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article. To create this model, GlobalData takes into account factors including patent law, known and projected regulatory approval processes, cash flows, drug margins and company expenses. Combining these data points with GlobalData’s world class analysis creates high value models that companies can use to help in evaluation processes for each drug or company. The rNPV method integrates the probability of a drug reaching a clinical stage into the cash flow at that time, which provides a more accurate valuation, as it considers the probability that the drug never makes it through the clinical pathway to commercialization. GlobalData’s rNPV model uses proprietary likelihood of approval (LoA) and phase transition success rate (PTSR) data for the indication in the highest development stage, which can be found on GlobalData’s .
