Podcasts about NAV

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award for two years running (2024 and 2025), is joined by Jim Strang, chairman of HgCapital Trust (HGT), advisor to private equity firms, and teacher of private equity at the London Business School. This discussion was recorded on Monday 17 November 2025. *** COMING SOON: The 2026 Investment Trusts Handbook *** Available for pre-order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by more than 20 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:24 - Introduction 0:01:00 - Private equity in general 0:09:35 - Reliability of valuations 0:12:21 - Listed private equity discounts 0:18:55 - A short break 0:20:01 - Looking at HgCapital Trust (HGT) 0:22:24 - The level of concentration in the portfolio 0:25:14 - Commitments vs available finance 0:30:30 - Co-investments 0:33:44 - AI and software businesses 0:39:06 - A changing market and confidence going forward 0:44:29 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers Circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Baillie Gifford China Growth (BGCG). Future profiles include Allianz Technology (ATT) and Aberdeen Asian Income (AAIF). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 300 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk

The Chopping Block unpacks crypto's DATpocalypse — NAVs collapsing, volumes drying up, and consolidation on the horizon. Plus: Vitalik sparks a wave of quantum panic, what Q-Day really means for Bitcoin and smart-contract chains, and why “qubits per share” might become the next great crypto meme. Welcome to The Chopping Block — where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. This episode opens with the DATpocalypse: almost every DAT is now below NAV, volumes have collapsed outside Bitmine and MicroStrategy, and the market is finally confronting what happens when issuances outrun demand. We get into consolidation talk, preferred-share experiments, capital-structure pivots, and whether any DAT should actually be selling crypto to buy back shares at a discount. Then we shift into quantum mania. Vitalik's “2028” comment lit up Q-Day fears, and we separate genuine hardware progress from pure panic. We discuss why post-quantum upgrades are simple for Bitcoin but brutal for stateful chains, and how hype alone could trigger a wave of “quantum-resistant” speculation. And yes — the running gag: DATs using quantum machines to steal Satoshi's coins. Tough markets, weird narratives, and institutions quietly holding the line. Let's get into it. Show highlights

A daily quote to inspire the mind, gratitude to warm the soul, and guided breathing to energize the body. Quote: "The idol is the measure of the worshiper." - James Russell Lowell Gratitude: For words, whether written or spoken or signed, that give life meaning and give meaning to our lives. Guided Breathing: Equal Breathing. Visit TheDailyRefresh.com to share your unique piece of gratitude which will be featured on an upcoming episode, and make sure to watch the tutorial of how to make The Daily Refresh part of your Alexa Flash Briefings! Call to action: If you're not listening to this on your Alexa, you should be! Visit TheDailyRefresh.com and click on the word Alexa in the Nav bar for a tutorial on making The Daily Refresh one of your Flash Briefings.

Interview with Oliver Turner, Vice President of Corporate Development, Americas Gold & Silver Our previous interview: https://www.cruxinvestor.com/posts/americas-gold-silver-tsxusa-triples-ore-production-targets-5moz-annually-8137Recording date: 18 November 2025Americas Gold & Silver is rapidly executing a growth and consolidation strategy in Idaho's historic Silver Valley, highlighted by its recent $65 million acquisition of the Crescent Mine and an oversubscribed $150 million capital raise. The company's strategic moves have attracted significant institutional interest, with ownership increasing from just 7% to over 63% as top-tier global mining institutions recognize the value proposition.The Crescent Mine acquisition represents a calculated move to utilize spare milling capacity at the flagship Galena complex. Located just 9 miles from Galena, Crescent historically produced over 25 million ounces of silver at grades averaging 900 grams per ton and can be restarted within six months. The mine's ore is metallurgically identical to Galena's tetrahedrite, enabling seamless integration into existing processing facilities. With Crescent's average grade of 655 grams per ton silver exceeding Galena's blended average of 466 grams per ton, the acquisition provides immediate high-grade feed while Galena ramps underground production.Management aims to restore Galena to historical production levels of 5+ million ounces annually potentially within 36 months, up from current levels. The operation currently utilizes only one of four available shafts and has ramped throughput from 300 tons per day to over 410 tons per day, yet still maintains spare mill capacity of 750-1,050 tons per day. Key catalysts include the paste backfill plant commissioning in Q3 2026 and formal production guidance expected in February-March.Beyond silver, Americas Gold & Silver has emerged as the largest active antimony producer in the United States, producing 450,000 pounds year-to-date. Management is pursuing development of a domestic antimony processing circuit with potential government support, addressing critical mineral security while potentially adding significant margin expansion at minimal incremental cost. Trading at 0.7-0.8x NAV versus peer average near 2x NAV, the company offers compelling value as it transforms into a major silver producer with exceptional byproduct credit potential.Learn more: https://www.cruxinvestor.com/companies/americas-gold-silver-corporationSign up for Crux Investor: https://cruxinvestor.com

Ukrajina čelí tlaku z více stran. Ruské jednotky tlačí na frontě a pomalu postupují v Doněcké i Záporožské oblasti, protože Ukrajině chybějí vojáci. Do týla dopadají rakety, které zabíjejí civilisty a ničí dopravní i energetickou infrastrukturu. Navíc sílí tlak na kapitulaci, za kterou označii 28bodový plán na uzavření míru v podcastu Zbytečná redaktor Alexem Švamberk a analytik Milan Mikulecký.

Po letošních volbách se zdá, že ve sněmovně budou sedět vládní, opoziční a pak ještě super opoziční poslanci. Do té poslední kategorie se pasují Piráti, kteří zůstali bez funkcí a proti všem. Je to chytrá strategie? Hostem dnešního Ptám se já je nejmladší pirátská poslankyně Katerina Demetrashvili.Piráti zůstali ve sněmovně na okraji. Vládní většina se rozhodla nedat jim žádný sněmovní post a o možné funkce se s nimi nerozdělila ani opozice. Navíc se Pirátů dotklo, že když při volbě vedení sněmovny zkoušeli prosadit svoji Olgu Richterovou, dostala až na pár výjimek pouze pirátské hlasy.Ke společnému jednání s ostatními opozičními stranami se přidali až tento týden, kdy společně svolali mimořádnou schůzi sněmovny ke střetu zájmů Andreje Babiše.Jaké řešení ohledně Babišova majetku by podle Pirátů vyhovělo zákonu? Má prezident Andreje Babiše nejmenovat, když jeho postup ohledně majetku nebude dostatečný? A jaké to je mít otce na ukrajinské frontě?--Podcast Ptám se já. Rozhovory s lidmi, kteří mají vliv, odpovědnost, informace.Sledujte na Seznam Zprávách, poslouchejte na Podcasty.cz a ve všech podcastových aplikacích.Archiv všech dílů najdete tady. Své postřehy, připomínky nebo tipy nám pište prostřednictvím sociálních sítí pod hashtagem #ptamseja nebo na e-mail: audio@sz.cz.

Zak Mir talks to Alexander Selegenev, Executive Director, TMT Investments, after the venture capital company investing in high-growth technology companies, announced that it will today commence an on-market share buyback programme for an aggregate consideration of up to US$2,000,000. The Company's board of directors believe that the current share price trades at a significant discount to the Company's intrinsic value. The purpose of the Programme is therefore to seek to take advantage of this discount to enhance Net Asset Value (NAV) per share, reduce the Company's share capital, and return value to its shareholders. Quick snapshot: who TMT is and what they own TMT is a listed investment company focused on technology, media and telecoms ventures. Founded nearly 15 years ago, the firm has backed more than 100 companies across the US, Western Europe, the UK and Estonia. Its portfolio includes several high-growth names that have achieved large multiples on real exits, and the group reports an IRR since inception of over 14%. Key portfolio highlights include a material holding in Bolt, several profitable growth companies such as Sandbird, and other scalable businesses that are already generating cash. TMT also holds liquid, publicly traded US stock totalling around US$12 million that can be sold if needed. Despite that mix, the market capitalisation for TMT has been trading well below the value of its assets, at roughly a 60% discount to NAV. Why the buyback matters The board's stated purpose is straightforward: use the buyback to enhance NAV per share, reduce share capital, and return value to shareholders while taking advantage of the discount. Management has framed the decision as both a prudent capital allocation and a signal that they see the shares as undervalued relative to the company's intrinsic holdings. Put simply, when a listed vehicle holds large stakes in businesses that are profitable or have credible exit paths, repurchasing shares at steep discounts can be an efficient way to convert latent value into realised shareholder benefit. Conservative valuation, transaction-first approach TMT emphasises a conservative, transparent approach to valuing its portfolio. Rather than relying heavily on convenient multiples, the company values most holdings using actual transactions where possible. As of the most recent reporting, only about 15% of the portfolio value was derived from multiples. The rest is grounded in verifiable cash exits or market-based evidence. This transaction-first method matters for two reasons. First, it reduces the subjectivity that often plagues private asset valuations. Second, it gives buyers and existing shareholders more confidence that the headline NAV is meaningful and not merely an academic number. Why the London market discounts investment companies There are several forces pushing listed VC-style investment companies to trade at discounts. A few of the main contributors are: Market risk aversion. Volatility and macro uncertainty make investors prefer simple, liquid stories over diversified, private-rich portfolios. Focus on the negatives. When you hold dozens of companies, the market tends to fixate on weaker performers instead of the winners. Timing uncertainty for exits. Investors price in delays for IPOs or sales, which reduces near-term enthusiasm for NAV-based assets. Capital outflows from small caps. Structural flows away from smaller listed companies can suppress demand further. Those factors help explain why an investment company can be priced well below the sum of its parts, even when its largest holdings are sizable and verifiable. Portfolio depth and track record TMT's historical performance includes high-multiple exits and several successful growth stories. The team leverages decades of operating and investing experience to access deals, support scale-up, and realise value. For investors who cannot source and monitor multiple early-stage opportunities directly, a diversified vehicle like TMT offers scaled exposure with professional oversight. Examples mentioned by management include exits that delivered 50 times and 23 times the original investment, and a portfolio valuation that exceeds US$200 million. Those realised outcomes are a reminder that venture-style returns remain achievable, albeit uneven across companies. Why management is buying back shares now The buyback is both a practical move and a signal. Management believes the current market price significantly understates intrinsic value. Buying stock at a 60% discount can meaningfully increase NAV per remaining share, and it demonstrates the board's confidence in the portfolio's prospects. "You're paying 40p for a pound."That shorthand captures the essence of the opportunity as the board sees it: purchasing a claim on a dollar of underlying value for substantially less than its stated worth. How to evaluate this kind of opportunity When considering an investment in a listed, venture-style vehicle, the following checklist helps frame the decision: Valuation basis — Are portfolio values backed by cash exits or observable market prices, or are they largely multiples and estimates? Concentration risk — How much of the NAV is tied to a single holding and how comfortably can that position be realised? Liquidity profile — How easy would it be to monetise some holdings if capital was required? Exit pipeline and timing — Are there credible catalysts, such as planned IPOs or trade sale processes? Management track record — Does the team have a history of building companies, achieving exits and allocating capital well? Discount to NAV — Is the discount justified by legitimate risks, or does it reflect short-term market sentiment? Risk and timeframe Investing through a vehicle like TMT is not a short-term trade. Venture outcomes are irregular and often require patience, typically measured in years rather than months. Catalysts such as IPO announcements can rapidly re-rate a stock, but those events are timing-dependent. The buyback reduces share count and can accelerate per-share NAV accretion, yet it does not remove execution risk across underlying companies. Final thought TMT's share buyback is a clear, pragmatic response to a valuation gap. For investors comfortable with venture-style risk and a longer time horizon, buying into a diversified, transaction-valued portfolio at a substantial discount can be an attractive opportunity. As always, review the underlying holdings, assess the company's valuation methodology, and consider how the investment fits within your broader portfolio objectives.

Hans Christian Holte, nylig avgått direktør i NAV, forteller om utfordringene med å lede en stor etat med krevende rammer, effekten av «trygdeskandalen», hvordan han opplevde å bli sparket – og hvilken konflikt han opplevde som enda hardere. Hosted on Acast. See acast.com/privacy for more information.

The Chopping Block unpacks crypto's DATpocalypse — NAVs collapsing, volumes drying up, and consolidation on the horizon. Plus: Vitalik sparks a wave of quantum panic, what Q-Day really means for Bitcoin and smart-contract chains, and why “qubits per share” might become the next great crypto meme. Welcome to The Chopping Block — where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. This episode opens with the DATpocalypse: almost every DAT is now below NAV, volumes have collapsed outside Bitmine and MicroStrategy, and the market is finally confronting what happens when issuances outrun demand. We get into consolidation talk, preferred-share experiments, capital-structure pivots, and whether any DAT should actually be selling crypto to buy back shares at a discount. Then we shift into quantum mania. Vitalik's “2028” comment lit up Q-Day fears, and we separate genuine hardware progress from pure panic. We discuss why post-quantum upgrades are simple for Bitcoin but brutal for stateful chains, and how hype alone could trigger a wave of “quantum-resistant” speculation. And yes — the running gag: DATs using quantum machines to steal Satoshi's coins. Tough markets, weird narratives, and institutions quietly holding the line. Let's get into it. Show highlights

Ever wondered what NAV actually means and why every mutual fund investor keeps talking about it?

Šogad labdarības maratona "Dod pieci!" vadmotīvs ir palīdzība bērniem un jauniešiem ar neiroloģiskiem kustību traucējumiem. Vienlaikus maratona laikā uzmanība tiks pievērsta arī sabiedrības mazkustīgumam. Kā tikt galā ar šo milzīgo problēmu? Raidījumā Kā labāk dzīvot vērtē Latvijas Radio raidījuma "Digitālās brokastis" vadītājs Artis Ozoliņš, fiziskās izaugsmes treneris Roberts Radičuks un P.Stradiņa klīniskās universitātes slimnīcas Fizikālās medicīnas un rehabilitācijas centra vadītāja Anda Nulle. Par motivāciju kustēties un būt aktīviem vaicājam Esterei, Viktorijai, Natai un Renāram, kurus sastapām kādā Rīgas sporta klubā agrā rīta stundā. Mēģinām atrast labus iemeslus, lai sāktu kustēties. Artis Ozoliņš uzsver drauga lomu, lai pievērstos aktīvākām kustībām. "Ja tev ir kāds, kas pasaka - klau, varbūt izejam pastaigā, varbūt aizejam uz sporta zāli kopā, pēdējos 2-3 mēnešus man ir draugs, kurš tā pateica, šobrīd mums jau ir aktīvi treniņi divreiz nedēļā," atklaj Artis Ozoliņš. "Nav jau tā, ka es pirms tam pats par to neaizdomājos, ka tā būtu laba lieta. Nav jau tā, ka nebiju dzirdējis gudrus cilvēkus, kas saka, ka vajadzētu pavingrināt ķermeni vairāk par skraidīšanu un staigāšanu, bet drauga loma manā gadījumā bija ļoti svarīga, ka ir kāds, kurš saka - klau, atnāc ar mani, parādīšu, ko es daru, varbūt iepatīkas. Tas ir ir jānovērtē. Drauga plecs ir svarīgs." Anda Nulle norāda, ka kustība ir vajadzība arī tiem cilvēkiem, kam ir funkcionēšanas traucējumi, cilvēkiem, kas ir ratiņkrēslos, pārvietojas ar palīglīdzekļiem. "Ja apmēram puse relatīvi veselu cilvēku nodarbojas ar fiziskām aktivitātēm, tad cilvēki ar funkcionāliem traucējumiem tikai ¼ daļa nodarbojas ar fiziskām aktivitātēm kaut cik pieņemamā apjomā," norāda Anda Nulle. "Es vairāk domāju, kā iesaistīt cilvēkus ar funkcionāliem traucējumiem sportā, aktivitātēs, kas dod dzīves jēgu un garšu." "Varbūt, ka vajag ierakstīt likumā, ka visiem ir jākustas. Redzēs, kas no tā sanāks," vērtē Anda Nulle, analizējot Solijas pieredzi. "Noteikti samazināsies darba nespējas lapu daudzums, uzlabosies veselība, mazināsies mirstība un viss, ko mēs ļoti labi zinām, bet ikdienā varbūt par to nedomājam. Ja kāds mums no ārpuses pabaksta, tad mēs vismaz mirklīti kustamies. Jebkurš līdzeklis, kas palīdz kustēties, ir apsveicams, kaut vai tas ir likums." Roberts Radičuks piebilst, ka ir jānovērtē ikdienišķas lietas, kas rada kustību prieku un varbūt notiek nemanāmi. "Kad iešu pārgājienā pa mežu, salasīšu čiekurus, kas ir taktilās izjūtas, ielikšu kabatā, pēc tam pārdomāšu veikto maršrutu, manī veidosies pozitīvās izjūtas. Visi šie komponenti tiek iesaistīti. Daudzas lietas darām, bet nenosaucam vārdos. Mums jānovērtē kāpšana pa kāpnēm, spēja uzkāpt Bastejkalnā bez aizdusas," uzskata Roberts Radičuks.  

A daily quote to inspire the mind, gratitude to warm the soul, and guided breathing to energize the body. Quote: "That government is best which governs least." - Thomas Paine Gratitude: For access to water, one of life's most important necessities. Guided Breathing: Equal Breathing. Visit TheDailyRefresh.com to share your unique piece of gratitude which will be featured on an upcoming episode, and make sure to watch the tutorial of how to make The Daily Refresh part of your Alexa Flash Briefings! Call to action: If there's something unique YOU are grateful for, let me know and I'll share it on an upcoming episode. Simply visit TheDailyRefresh.com and click the word 'Gratitude e' in the Nav bar!

Je šikovný. Má parádní soustruh, vlastní dílnu a tam vyrábí krásná pera. To vše pod značkou VF Pen.  Již pomalu opouští výrobu per ze dřeva a věnuje se pryskyřici. Vyrobit pero, to je umění, ale pak ta krása, která vznikne. Navíc i leváci mohou těmito pery psát. Nyní má vždy v zásobě asi padesát per, aby uspokojil předvánoční trh. Jak dlouho trvá vyrobit pero? Kde si objednává materiál? Kdo ze slavných píše jeho pery? A kde všude má stružiny? To se dozvíte v rozhovoru s Václavem Fiedlerem v Ponte Reports.

Investor, entrepreneur, and IREN board member Mike Alfred sits down with Natalie Brunell for a deep-dive into Bitcoin, AI, equities markets, retail investing, and the future of the global financial system. Mike breaks down why he believes Bitcoin is the most important asset in human history, why AI is only in the first inning, and how he approaches asymmetric investing, long-duration conviction, and risk management. We discuss:  Why Mike believes Bitcoin is the most de-risked large-scale asset ever AI's 20-year growth cycle & its overlap with Bitcoin How Bitcoin miners evolved into AI power companies Treasury companies, NAV myths & structural risks Global liquidity cycles & Bitcoin price catalysts The 5 picks Mike would make when investing $1 million today ---- Pre-order Natalie's new book "Bitcoin is For Everyone," available November 18, 2025. https://amzn.to/3WzFzfU  ---- Coin Stories is powered by Gemini. Invest as you spend with the Gemini Credit Card. Sign up today to earn a $200 intro Bitcoin bonus. The Gemini Credit Card is issued by WebBank. See website for rates & fees. Learn more at https://www.gemini.com/natalie  ---- Coin Stories is powered by Bitwise. Bitwise has over $10B in client assets, 32 investment products, and a team of 100+ employees across the U.S. and Europe, all solely focused on Bitcoin and digital assets since 2017. Learn more at https://www.bitwiseinvestments.com  ---- Bitdeer Technologies Group ($BTDR) is a global leader in Bitcoin mining and high-performance computing for AI, with operations spanning four continents. Learn more at https://www.bitdeer.com ---- Ledn is the global leader in Bitcoin-backed loans, issuing over $9 billion in loans since 2018, and they were the first to offer proof of reserves. With Ledn, you get custody loans, no credit checks, no monthly payments, and more. Get .25% off your first loan, learn more at https://www.Ledn.io/natalie  ---- Natalie's Bitcoin Product and Event Links: For easy, low-cost, instant Bitcoin payments, I use Speed Lightning Wallet. Play Bitcoin trivia and win up to 1 million sats! Download and use promo code COINSTORIES10 for 5,000 free sats: https://www.speed.app/coinstories  Block's Bitkey Cold Storage Wallet was named to TIME's prestigious Best Inventions of 2024 in the category of Privacy & Security. Get 20% off using code STORIES at https://bitkey.world   Master your Bitcoin self-custody with 1-on-1 help and gain peace of mind with the help of The Bitcoin Way: https://www.thebitcoinway.com/natalie  Genius Group (NYSE: $GNS) is building a 10,000 BTC treasury and educating the world through the Genius Academy. Check out *free* courses from Saifedean Ammous and myself at https://www.geniusgroup.ai Earn passive Bitcoin income with industry-leading uptime, renewable energy, ideal climate, expert support, and one month of free hosting when you join Abundant Mines at https://www.abundantmines.com/natalie  Bitcoin 2026 will be here before you know it. Get 10% off Early Bird passes using the code HODL: https://tickets.b.tc/event/bitcoin-2026?promoCodeTask=apply&promoCodeInput=  Protect yourself from SIM Swaps that can hack your accounts and steal your Bitcoin. Join America's most secure mobile service, trusted by CEOs, VIPs and top corporations: https://www.efani.com/natalie   Ditch your fiat health insurance like I did four years ago! Join me at CrowdHealth: www.joincrowdhealth.com/natalie  ---- This podcast is for educational purposes and should not be construed as official investment advice. ---- VALUE FOR VALUE — SUPPORT NATALIE'S SHOWS Strike ID https://strike.me/coinstoriesnat/ Cash App $CoinStories #money #Bitcoin #investing

Would you like to know more? Flick me a message!Who can certify a logbook?RPL endorsementsBest tips for CPL hour buildingAnd a few questions about me! Support the showEmail: info@trentrobinsonaviation.com.au Online Training http://courses.flighttrainingaustralia.com.au Affiliate Links: Pilot LogbookDigital Excel spreadsheet logbook for a one off payment. Podcast listeners get 20% Off!! Nav & Co Pilot Nav Bags - Get $10 off using the code FTAPODCAST Social Media Links: Facebook: http://www.facebook.com.au/trentrobinsonaviation Instagram: http://www.instagram.com/trent_robinson_aviation YouTube: https://www.youtube.com/@flighttrainingaustraliaTikTok https://www.tiktok.com/@flighttrainingaustraliaPodcast Episodes: http://www.flighttrainingaustralia.com.au

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award for two years running (2024 and 2025), is joined by Andrew McHattie, editor of the Investment Trusts Newsletter. This discussion was recorded on Friday 14 November 2025. *** COMING SOON: The 2026 Investment Trusts Handbook *** Available for pre-order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by more than 20 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:24 - Introduction 0:01:00 - Smithson Investment Trust (SSON) 0:10:35 - Franklin Global Trust (FRGT) merger with Invesco Global Equity Income (IGET) 0:12:26 - Pacific Assets Trust (PAC) 0:15:59 - Henderson Far East Income (HFEL) 0:18:26 - A short break 0:19:32 - 3i Group (III) and 3i Infrastructure (3IN) 0:26:21 - Scottish Mortgage (SMT) and Fidelity Special Values (FSV) 0:32:24 - Hydrogen Capital Growth (HGEN) 0:35:58 - Home REIT 0:37:42 - Money Makers Circle and the Investment Trusts Handbook 2026 0:38:21 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers Circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Impax Environmental (IEM). Future profiles include Baillie Gifford China Growth (BGCG) and Allianz Technology (ATT). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 300 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk

A daily quote to inspire the mind, gratitude to warm the soul, and guided breathing to energize the body. Quote: "Imagination is the one weapon in the war against reality." - Jules de Gaultier Gratitude: For good food, whether you're making it or eating it. Guided Breathing: Equal Breathing. Visit TheDailyRefresh.com to share your unique piece of gratitude which will be featured on an upcoming episode, and make sure to watch the tutorial of how to make The Daily Refresh part of your Alexa Flash Briefings! Call to action: If you're not listening to this on your Alexa, you should be! Visit TheDailyRefresh.com and click on the word Alexa in the Nav bar for a tutorial on making The Daily Refresh one of your Flash Briefings.

Ukrajinou hýbe tento týden odhalení rozsáhlé korupční struktury v energetickém sektoru kolem společnosti Energoatom. Jejím hlavním organizátorem je podle vyšetřovatelů Timur Mindič, blízký spojenec ukrajinského prezidenta. Do jaké míry Volodymyr Zelenskyj o těchto praktikách věděl? Nejen to probírají Josef Pazderka a Ondřej Soukup v bonusovém materiálu k podcastu Na Východ! a jako vždy přidávají tipy na čtení a poslech doplňujících informací o současné situaci na frontě.

In this episode of Private Markets 360°, we welcome Peter Hutton, Head of NAV Financing at Arcmont Asset Management, one of Europe's largest private credit firms with €38 billion in assets under management. With extensive experience in private debt, Peter shares his insights into the fundamentals of NAV financing and how it is reshaping liquidity for sponsors. We explore key trends driving the future of NAV financing and its impact on the investment landscape.   Credits:  Host/Author: Chris Sparenberg and Jocelyn Lewis Guests: Peter Hutton, Arcmont Asset Management Producer: Georgina Lee Published With Assistance From: Feranmi Adeoshun www.spglobal.com www.spglobal.com/market-intelligence

Vizsla Silver just released its Feasibility Study for the Panuco Project (Nov 12). Mike Konnert, President & CEO of Vizsla Silver (TSX:VZLA, NYSE:VZLA),  walks through the headline economics, funding, growth runway, and permitting path. Feasibility Results: After-tax NPV US$1.8B, IRR 111%, AISC ~US$10.61/oz, and payback in ~7 months. Driven by low upfront capital and strong margins. Capital & Funding: Capex US$238M (net ~US$173M). Fully funded with US$200M cash, US$220M Macquarie facility, and ~US$40M in equities. Mine Plan & Upside: Only 12.8Mt of the ~25Mt global resource used in reserves. Large potential for conversion and expansion near Napoleon, Copala, and La Luisa. District Growth: Ongoing drilling with four rigs targeting Animas, Santa Fe, and additional veins for long-term expansion. Sensitivity & Strength: Even at US$17 Ag and US$1,550 Au, NPV US$460M, IRR 42%. Permitting & Build: Fully engineered, test mining underway, and permits expected mid-2026. Ready to build once granted. Valuation & Outlook: Trading near 0.5× NAV with potential re-rating as it advances to production. Targeting 50Moz AgEq/yr within 10 years. If you have any follow up questions for Mike please email me at Fleck@kereport.com.   Vizsla Silver will be hosting a webcast to discuss the Panuco Project Feasibility Study at 10:00 am PT (1:00 pm ET) on November 24th.  To register, please click here   ---------- For more market commentary & interview summaries, subscribe to our Substacks: https://kereport.substack.com/ https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Follow Unchained On Air on X or YouTube! https://x.com/Unchained_pod https://www.youtube.com/channel/UCWiiMnsnw5Isc2PP1to9nNw Check out our sponsor Walrus! https://www.walrus.xyz/ The government's about to reopen, but the economic cracks aren't healing. From runaway debt to DATs trading below NAV, markets are feeling the strain of unsolved macro problems. In this week's Bits + Bips, hosts Austin Campbell and Chris Perkins are joined by Matt Zhang of Hivemind Capital and Felix Jauvin, head of content at Blockworks and host of Forward Guidance, to unpack what happens when policy meets reality. They discuss why a $2,000 “tariff dividend” could ignite inflation, how America's ballooning debt is constructive for crypto, and why DATs could still have plenty of potential, despite already showing cracks. Plus: the Bank of England's £20K stablecoin proposal, whether $3 trillion is too low a target for the sector, and a final provocation: is XRP worth more than Ripple equity? Hosts: Austin Campbell, NYU Stern professor and founder and managing partner of Zero Knowledge Consulting Christopher Perkins, Managing Partner and President of CoinFund Guests: Felix Jauvin, Head of Content at Blockworks and Host of the Forward Guidance Podcast Matt Zhang, Founder & Managing Partner at Hivemind Capital Links: CNN: Trump's shutdown win just landed Republicans with a huge political headache Forbes: A $2,000 Tariff Dividend? Trump's New Pitch Raises Tax Concerns BeInCrypto: Digital Asset Treasuries Are Collapsing: Lost Confidence Triggers Market Sell-Off FT: Bank of England dilutes planned rules for UK stablecoins CoinDesk: U.S. Fed's Miran Says Policy Needs to Adjust to Stablecoin Boom That Could Reach $3T Timestamps:

Chantal Marx from FNB Wealth & Investment on Stor-Age's results, trading around NAV with a somewhat underwhelming performance. Kobus Gertenbach, CEO of Premier Group, on a strong set of numbers driven by meaningful operational efficiencies. Sean Kelly from Parity Wealth Managers on the shift from Mag7 to Mag70 – and what this ever-expanding list is telling us.

I denne episoden av i loopen møter vi Derviş Mansuroğlu, personalleder og kontorsjef for utviklere i NAV IT, Wenche Charlotte Almnes, senior manager og ansvarlig for mangfold og inkludering i Deloitte Norge; og Christoffer Naustdal Hjelm, sosial entreprenør og ansvarlig for forretningsutvikling i Cousins. Sammen utforsker de hvordan flere veier inn i arbeidslivet skaper verdi for både mennesker og organisasjoner – og hva vi alle kan gjøre for å bygge et mer inkluderende samfunn. Episoden som er ledet av Julie McCarthy tar også opp hvordan tillit og støtte fra «allierte» kan gjøre inkluderingsarbeidet enklere og mer effektivt.  Denne episoden ble spilt inn under jobbmessen for kvinnelige talenter med innvandringsbakgrunn, arrangert av IMDI og NAV, som fant sted mandag 3. november. Foto: Martina Caredda

Med utgangspunkt i den lunefulle ugandiske spriten Waragi, rusler vi gjennom livet, festen, ensomheten, fjernsynet, USA, NAV, klemming og en nyhet om maraton.

"Bylo mi 10, přijely tanky a já se probudil." Co znamená žít s pravdou, když tě to může stát všechno?Dnešní host - filozof, psychoterapeut a signatář Charty 77 Prof. Martin Beck Matuštík v epizodě otevírá hluboký dialog o smyslu, čase, úzkosti a odvaze. Rozhovor, který začíná v osobním příběhu a přerůstá do existenciální výpovědi o tom, co znamená být člověkem.O tom, jak se z filozofie stala životní praxe, a jak v okamžicích naprosté nejistoty nechat vzniknout duši, kterou si člověk tvoří činem. Vydejte se s námi na fascinující cestu kognitivních revolucí a po podstatě smyslu člověka.Tohle je zkrácená verze (96min), celý díl (126min) si můžeš poslechnout bez reklam, dřív a odemknout tím i spousty dalších dílů přímo na Spotify jen za stovku/měsíc. https://podcasters.spotify.com/pod/show/brainweare/subscribeParťáci dílu:⁠Magniflex.cz⁠Máme velkou radost, že jsme narazili na celosvětově patentované velmi kvalitní matrace od italské značky Magniflex. Magniflex je dělají z těch nejkvalitnějších materiálů a spolupracují s odborníky na biomechaniku a lékaři. Navíc mají nadstandartně dlouhou záruku proti proležení a to až 12 let. Já mám konkrétně matraci magnistretch s patentovanou technologií, která dokáže tělo při tlaku na ní trošičku protahovat a nemůžu si jí vynachválit. Tak jdi na ⁠Magniflex.cz⁠ a udělej další krok ke kvalitnějšímu spánku a zdraví s Magniflexem.Fondee.cz - ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.fondee.cz/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Unikátní platforma na investování v ČR, kterou sami používáme. Navštiv ⁠⁠⁠www.Fondee.cz⁠⁠⁠ a zadej kód "BWA" pro 3 měsíce investování zdarma! Začni třeba už s 1000,- // Investování se pojí s riziky. Zadej kód "BWA" pro slevu 10% na vybrané zboží na eshopu ⁠⁠⁠⁠⁠⁠uplife.cz⁠⁠⁠⁠⁠⁠Kup si jeden z našich online kurzů ⁠⁠⁠Průvodce Mozkem a Myslí⁠⁠⁠, nebo ⁠⁠⁠Mentální Modely⁠⁠⁠ a s kódem BWA je tam sleva 10% navíc! Zadej kód "BWA" pro slevu 10% na vybrané zboží na eshopu ⁠⁠⁠⁠⁠uplife.cz⁠⁠⁠⁠⁠ a ⁠⁠⁠⁠⁠herbal-store.cz⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠ Sledujte Brain We Are na sociálních sítích: ⁠⁠⁠Instagram⁠⁠⁠ ( ⁠⁠⁠www.instagram.com/brain_we_are⁠⁠⁠ ) nebo⁠⁠⁠ FacebookMinutáž:00:00 Úvod a představení hosta - Martina Becka Matuštíka05:43 Okupace 68 a probuzení smyslu pro spravedlnost08:00 Vliv zakázané filozofie a profesora Patočky10:30 Emigrace a volba postavit se proti kompromitaci13:39 Role Káthmándú, Nepálu a Lamy Zopy17:01 Návrat do Čech a "nová emigrace"22:07 Pátrání po židovské části rodiny a integrace identit29:39 Otázka smyslu: Úzkost, údiv a ritualizace33:10 Vnímání času: cyklické, lineární a bezčasovost "teď a tady"38:36 První axiální věk a hodnoty, ze kterých dodnes žijeme45:43 Logos: slovo a myšlenka jako tvořivá síla56:14 Hledání toho, co nelze algoritmizovat v éře Superinteligence01:15:17 Jak udělat blízkost udržitelnou: nepodmíněná láska a Agape01:26:12 Gamblerův paradox a nenaplněnost v době hojnosti01:30:50 Architektura času: význam Šabatu a rituálůPřechod do VIP částiPřechod do VIP části (Předplať jen za stovku/měsíc odkaz zde)01:35:11 Radikální zlo vs. přebytek naděje (surplus of hope)01:39:04 Velká smrt, rozbití ega a důležitost smrti v moderní době01:46:17 Bůh jako prožitek: hluboká blízkost a vztah01:50:55 Psychoterapeutická praxe: existenciální, duchovní a transgenerační témata01:56:22 Co je "Counter Memory" (protipaměť)

Norge er inne i en av sine viktigste fotballuker noensinne, men likevel er den preget av en sak utenfor banen. For noen dager siden innrømmet Andreas Schjelderup å ha delt en ulovlig video. Vi oppsummerer nyhetene for deg, i dag også om Nav-sjefen som får sparken og nye fødselstall.

Ne tikai pie mums Latvijā un Baltijā, bet arī citviet Eiropā turpinās ļoti silts rudens. Latvijā pagājušajā nedēļā – 7. novembrī – tika reģistrēts +15 grādu siltums. Un tas ir viens no vēlākajiem datumiem rudenī, kad bijusi tik augsta gaisa temperatūra. Zināmi vēl tikai daži gadījumi vēsturē. Nesenākais no tiem 2022. gadā, kad gan Rīgā, gan Mērsragā bija +15 grādi, un tas notika 12. novembrī, kas ir visvēlākais datums ar +15 grādiem. Šonedēļ siltuma rekordi birs Eiropas centrālajā un rietumu daļā. Ceturtdien un piektdien daudzviet Francijā prognzēti +20, +25 grādi, kas pat Francijā novembra vidū nav ierasti. Bet līdz +15, +20 grādiem silts būs Vācijā un pat daļā Polijas, Čehijā, Austrijā un Ungārijā. Tikmēr Atlantijas okeāna otrā krastā – Amerikā – daudzviet atnākusi ļoti agra ziema. Gan Kanādas, gan ASV austrumu štatos iestājies sals, snieg un puteņo. Īpaši stipru snigšanu piedzīvojuši reģioni Lielo ezeru tuvumā, kur veidojās ezera efekta sniega mākoņi. Līdzīgi kā pie mums Rīgas līcis mēdz burtiski ražot intensīvus nokrišņu mākoņus, kad pie mums ieplūst auksts gaiss, tas pats notiek virs Lielajiem ezeriem starp ASV un Kanādu. Vsivairāk uzsnidzis uz dienvidiem no Mičiganas ezera – Indianas štatā – ap 30 cm sniega. Aukstā gaisa masa aizplūdusi pat tik tālu uz dienvidiem, ka Floridā uzstādīti aukstuma rekordi. Štata ziemeļos temperatūra pat noslīdējusi mazliet zem nulles, līdz -2…-3 grādiem, kas saulainajai un siltajai Floridai nav bieža parādība pat ziemas mēnesis, kur nu vēl novembra vidū. ASV Nacionālās Okeāna un atmosfēras pārvalde lēš, ka šis ir lielākais aukstuma vilnis pēdējo gandrīz 30 gadu laikā, bet atsevišķās vietās var tikt uzstādīti lokālas nozīmes rekordi ar lielāko aukstumu pēdējo 60 gadu laikā.  * Latvijā, patriotu nedēļā, laiks pie mums vienmēr ir pelēcīgs, vēss un drūms un noteikti gribētos vairāk svētku brīvdienu labā laikā, vienlaikus, manuprāt, lieliski ir arī tas, ka novembra valsts svētku laikapstākļi ir radījuši spēcīgas asociācijas un tikai papildina svētku sajūtu. Paliekot pie pamata 15 svētku dienām gadā, ir viena lieta no statistikas, ko gribas pateikt uzreiz – vienīgā no visām svētku dienām, kad vēsturiski Latvijas teritorijā nekad nav bijis sals, ir Jāņi – 24. jūnijs. Pat ne Līgo diena, jo 23. jūnijā ir bijuši gadījumi, kad temperatūra ir mīnusos. Rekords ir 1977. gada Līgo dienas rīts Stendē ar -1,5 grādiem. Un te cilvēki noteikti atcerēsies, ka arī Jāņu rītā, 24. jūnijā ir bijusi salna un tā ir tiesa, ir bijuši gadi un pēdējais visspilgtākais bija 1992. gads, kad salna zāles augstumā bija daudzviet Latvijā. Jāņu rītā nebija rasas, zāle bija sasalusi kraukšķīga, bet 2 metru augstumā, kur mēra gaisa temperatūru, minimums bija Zosēnos: +0,7 grādi. Vēsturiskajā bezslanu periodā, kas ir no jūlija pirmās puses līdz augusta vidum, kad Latvijā tiešām nav pat salnu, svētku mums nav. Kurus no svētkiem statistiski var saukt par saulainiem, siltiem un kurus pavisam noteikti ne? Uz šo jautājumu pat bez klimatisko datu analīzes mēs katrs vairāk vai mazāk varam atbildēt. Tātad Līgo diena, Jāņi, protams, vairumā gadījumu ir vairāk vai mazāk vasarīgi un tad ir svētki, kuros var būt gan vasarīgs siltums, gan sniegs un tādi ir gan 1. un 4. maijs, gan, protams, Lielā Piektdiena un Pirmās un Otrās Lieldienas, kas var iekrist datumos no marta beigām līdz aprīļa beigu daļai. Bet ir vēl divas svētku dienas, ko cilvēki piemirst, ka vispār tie ir, tā sauktie, sarkanie datumi. un tā ir Mātes diena – maija otrā svētdiena. Jo, tā kā tā ir svētdienā, tad lielākā daļa cilvēku nebauda īpašās svētku dienas privilēģijas darbā. Un vēl Vasarsvētki, kas arī ir mainīgos datumos no 10. maija līdz 13. jūnijam, bet arī vienmēr svētdienā. Šos un Pirmās Lieldienas, kas ir svētdienā es tomēr no statistikas celtu ārā, jo tās tomēr nav klasiskas svētku brīvdienas, kad cilvēkiem tiek dots vairāk brīva laika svinēšanai un atpūtai. Noņemot šīs trīs dienas nost mums ir 12 svētku brīvdienas, no kurām stabili divas ir vasarīgas. Ja paveicas, tad maija svētki un Lieldienas, tad var iekrist līdz 6 svētku brīvdienā ar labu laiku. Pārājās – 18. novembris, trīs Ziemassvētku brīvdienas, Vecgada diena un Jaungada diena labākajā gadījumā ir ar sauli, bet biežāk tomēr tumšas un pat Ziemassvētku laiks arvien biežāk ir bez sniega. Klimatiskie dati rāda, ka 1. un 4. maijā iespējamība, ka diena ir saulaina, ir 70 procenti, savukārt novembrī vai decembrī 20-30 procenti. Turklāt, ja maijā diena ir saulaina, tad saule var spīdēt līdz 16 stundas, tad novembrī un decembrī, pat ja visa diena ir ar skaidrām debesīm, tās ir tikai 6–7 stundas. Bet šajā diskusijā par svētku brīvdienas statusa atņemšanu 1. maijam, bieži dzird argumentu, ka Darba svētki ir Padomju laika mantojums un to vajag atmest. Šis komentārs no manis ne par kllimatu vai laikapstākļiem, bet tomēr aicinu atcerēties, ka 1. maijā ne visi svin Darba svētkus un arī es personīgi šo dienu vispār nesaistu ar darba svētkiem, bet kā ierakstīts arī likumā – Latvijas Republikas Satversmes sapulces sasaukšanas diena. Tā ir diena, kad Latvijā sāka strādāt pirmais demokrātiski ievēlētais parlaments. Un, manuprāt, tas ir gana nozīmīgs notikums demokrātiskai valstij. Protams, var diskutēt, vai tam vajag svētku brīvdienu, bet to Darba svētku argumentu gan var mierīgi atmest.  Mēs pavisam noteikti neeam rekordisti Eiropā un pat Lietuvā ir par vienu brīvdienu vairāk, nekā mums, bet viņiem arī ir tās brīvdienas, kas vienmēr iekrīt svētdienā – Mātes diena un viņiem arī jūnija pirmā svētdiena – Tēva diena. Vēl, starp citu, mīts, ka lietuviešiem kā katoļiem Jāņi nav brīvdiena. Nav tiesa. Viņiem Līgo diena nav brīva, bet 24. jūnijs ir gan. Un atšķirībā no mums, lietuviešiem ir divas brīvidneas kārtīgā vasarā – 6. jūlijs – Karaļa Mindauga kronēšanas diena un 15. augusts – VIssvētākās Jaunavas Marijas debesīs uzņemšanas diena, vienlaikus tie, kas nav katoļi to svin kā Zemes mātes dienu pēc pagānu tradīcijām kā viduspunktu starp vasaru un rudeni. Un vēl interesanti, ka lietuvišiem novembrī ir divas brīvdienas pēc kārtas – 1. novembrī Visu svēto diena un 2. novembris – Mirušo piemiņas diena, ko mēs saucam par svecīšu vakaru. Igauņiem savukārt ir tikai 12 svētku dienas. Bez 23. un 24, jūnija Igaunijā vēl ir Neatkarības atjaunošanas diena 20. augustā. Bet, kas interesanti, ka 23. jūnijs nav Saistīts ar vasaras saulgriežiem un Līgo pagānu tradīcijām. Tā ir Uzvaras diena. Un uzvaras diena, kas ir svinama arī Latvijā. Igauņiem 23. jūnijs ir brīvs par godu uzvarai Cēsu kaujā 1919. gadā, kad iaguņu un latviešu karavīri plecu pie pleca cīnījās pret Vācu karspēku. Un uzvarēja. Rekordisti svētku brīvdienu skaitā Eiropā ir Austrija. Bet ne visa Austrija. Tur atkarībā no federālās zemes ir 13–18 svētku brīvdienas. Intersanta šķiet Malta. 14 brīvdienas. Ļoti vidēji uz pārējo Eiropas valstu fona, bet liekot kopā ar klimatiskajiem un meteoroloģiskajiem datiem kaut kā likās, ka viņiem daudz brīvdienu vasarīgā laikā, bet skaidrs, ka Maltā vienkārši laiks ir vasarīgāks. Viņiem 8 no svētku brīvdienām sanāk tādā laikā, kas mums saucams par vasarīgu. Brīvības diena 31. martā, kad Maltu pameta britu karspēks1979. gadā, Lieldienu brīvdienas, darba svētki 1. maijā, sacelšanās pret britu koloniālistiem 7. jūnijā, tad viņiem brīva ir Pēterdiena 29. jūnijā, Marijas debesīs uzņemšanas diena 15. augustā, vēl ir vairāku vēsturisku uzvaru svinības 8. septembrī, tad galvenā Natkarības diena 21. septembrī, kad arī Maltā vēl valda vasara. Ja runājam par ziemeļniekiem, viņi tiešām ir strādīgāki un viņiem ir vismazāk svētku brīvdienu – Islandē tikai 10, Zviedrijā un Norvēģija 12, Somijā 13. Un vasaras brīvdienu ziņā Norvēģijā ir visbēdīgāk. VIņiem nav Jāņu vai cita veida Vasaras saulgriežu brīvdienu. Kaut cik siltajā gada daļā ir 1. maijs, 17. maijs – Konstitūcijas diena un tad ir trīs kristiešu brīvdienas, no kurām viena vienmēr ir svētdienā un tās ir, es nebiju pārliecināts par precīziem nosaukumiem latviešu valodā, bet tās ir 39. diena pēc Lieldienām, tātad arī kaut kad aprīļa beigās vai maijā un vēl 49. un 50. diena pēc Lieldienām, kas sanāk ne vēlāk kā jūnija vidus, kad daļā Norvēģijas vēl mēdz pa reizi snigt. Rezumējot var teikt, ka mūsu svētku brīvdienu komplekts ir tuvs Ziemeļvalstīm, bet tomēr mums ir mazliet vairāk brīvdienu. Gribētu mums brīvu 21. augustu, jo tie 1991. gada notikumi šķiet svarīgi mūsu vēsturē. 11. novembris ir ar ļoti jaukām tradīcijām un tad noteikti patritisku noskaņu ir vairāk, bet labums ir tas, ka – tā kā 11. novembris nekad nav bijis brīvdiena, mēs esam iemācījušies to svinēt bez papildu bīvā laika. Un 11. novembris, manuprāt, ir tādi ļoti latviski svētki, jo ja mēs te Rīgā vēl pulcējamies pie Prezidenta pils un kopīgi dedzam sveces, daudzi jo daudzi, arī rīdzinieki, kas nenāk uz Krastmalu, iededz sveci logā un svarīgākais ir pārdomas, ko dod šī diena un vakars. Un tādā ziņā man šīet, ka 11. novembris ir pašpietiekams, bet 21. augustu varētu iedzīvināt, ka ļoti jaukus, brīvības svinēšanas svētkus ārā, ar plašākām dažādu aktivitāšu iespējām. Bet katram noteikti savas domas un argumentu jau ir daudz un dažādi.  Teiktu, ka nav slikts mūsu svētku brīvdienu komplekts. Nav kā maltiešiem, kas var rīkot festivālus visu cauru vasaru, bet tam jau mēs ņemam atvaļinājumus.

In this exclusive conversation, Michael Gayed, founder of The Lead-Lag Report, sits down with Will Rhind, CEO of GraniteShares, to discuss the booming demand for options-based income ETFs like YieldBoost — funds generating 50% to 150% annual yields through innovative option strategies.They unpack:- Why rates are headed lower (and what it means for investors)- How YieldBoost ETFs work and generate high income- The truth about NAV erosion and downside protection- What a diversified income portfolio could look like in 2025- How investors are rethinking “safe yield” in a new market eraLead-Lag Live brings you inside conversations with the financial thinkers who shape markets. Subscribe for interviews that go deeper than the noise.#YieldInvesting #OptionsIncome #ETFs #HighYield #Investing #Finance #LeadLagReport #GraniteSharesCompleted Thumbnail (KseniyaStart your adventure with TableTalk Friday: A D&D Podcast at the link below or wherever you get your podcasts!Youtube: https://youtube.com/playlist?list=PLgB6B-mAeWlPM9KzGJ2O4cU0-m5lO0lkr&si=W_-jLsiREjyAIgEsSpotify: https://open.spotify.com/show/75YJ921WGQqUtwxRT71UQB?si=4R6kaAYOTtO2V Sign up to The Lead-Lag Report on Substack and get 30% off the annual subscription today by visiting http://theleadlag.report/leadlaglive. Support the show

See my $325,000+ Stock Portfolio: https://www.patreon.com/citizenoftheyear/postsCheck out these AMAZING Deals: https://amzn.to/3NGmBPTNEOS SPYI and QQQI are some the best Income ETFs on the market. Both have given some amazing returns and high monthly dividends! How long can they keep this streak of big dividends with no NAV erosion up?Check out my favorite research tool Seeking Alpha! Premium: https://link.seekingalpha.com/3B2L85W/4G6SHH/Alpha Picks: https://www.sahg6dtr.com/3B2L85W/J8P3N/Disclaimer:This is not financial advice and I am not a licensed financial advisor. Always do your own research before investing and work with a licensed financial advisor. These are my opinions for informational purposes only and not to be taken as investing advice. Some of the links on this page are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. As an Amazon Associate, I earn from qualifying purchases. Affiliate commissions help fund videos like this one

Your blogger is routinely critical of the Alerian MLP ETF (AMLP) — for good reason, as its narrow universe and tax-paying structure offer ample points of weakness. They've even struggled to calculate taxes owed, which resulted in two downward NAV adjustments in 2022-23 (see AMLP Fails Its Investors Again). At times I've even been critical […]

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award for two years running (2024 and 2025), is joined by Peter Hewitt, former manager of the CT Global Managed Portfolio Trust (CMPI/CMPG). This discussion was recorded on Friday 07 November 2025. *** COMING SOON: The 2026 Investment Trusts Handbook *** Available for pre-order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City's best-kept secret, or the connoisseur's choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by more than 20 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. *** Section Timestamps: 0:00:24 - Introduction 0:01:00 - The big picture for global markets 0:04:43 - The mood in small caps 0:11:11 - Emerging markets 0:15:44 - The shrinking universe 0:18:07 - Saba Capital 0:24:19 - A short break 0:25:26 - The renewables sector 0:32:09 - Commercial property 0:34:04 - The rugby 0:37:12 - The Investment Trusts Handbook 2026 0:38:32 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers Circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Scottish American (SAIN). Future profiles include Impax Environmental Markets (IEM) and Baillie Gifford China Growth (BGCG). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. For more information please visit https://money-makers.co/circle. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 300 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin - www.bgprofessional.co.uk

A daily quote to inspire the mind, gratitude to warm the soul, and guided breathing to energize the body. Quote: "Treat your friends as you do your pictures, and place them in their best light." - Jennie Jerome Churchill Gratitude: For a phone that allows you to communicate with people instantaneously even when you are far away from them. Guided Breathing: Equal Breathing. Visit TheDailyRefresh.com to share your unique piece of gratitude which will be featured on an upcoming episode, and make sure to watch the tutorial of how to make The Daily Refresh part of your Alexa Flash Briefings! Call to action: If you're not listening to this on your Alexa, you should be! Visit TheDailyRefresh.com and click on the word Alexa in the Nav bar for a tutorial on making The Daily Refresh one of your Flash Briefings.

Válečná fronta na Ukrajině už řadu měsíců stojí. Což ale neznamená, že se na ní nic neděje. „Kdysi jsme se mohli dostat pět šest kilometrů od frontové linie. Věděli jsme, že potom už je ta nebezpečná hranice doletu dronů. Teď se to ale hodně mění a cítíme to na své práci,“ popisuje situaci reportérka České televize Darja Stomatová. Jak přesné informace o bojích tedy můžeme získat? Do pořadu Na Východ! si Josef Pazderka a Ondřej Soukup pozvali také kameramana Jána Schürgera.

Recording date: 4th November 2025The gold mining sector demonstrated extraordinary financial performance in Q3 2025, with gold stabilizing near $4,000 per ounce and silver between $47-49 after a recent $300 pullback. Major producers generated unprecedented free cash flow despite market volatility, positioning the sector for sustained growth.Agnico Eagle Mines produced exceptional results with $3 billion in revenue and 66% gross margins, generating $1.2 billion in free cash flow at all-in sustaining costs of $1,400 per ounce. At current gold prices, this translates to approximately $17-18 million in daily free cash flow. Newmont Corporation similarly posted strong performance with $8 billion in revenue and $1.6 billion in free cash flow from 1.4 million ounces produced.Despite Federal Reserve rate cuts temporarily reducing global liquidity flows, the fundamental investment case for precious metals remains robust. Market weakness may extend through November, but recovery is anticipated approaching December's Fed meeting as monetary debasement trends continue supporting sector strength.M&A activity accelerated significantly with Fresnillo acquiring Probe Gold for $780 million cash, marking the world's largest primary silver producer's expansion into Canadian gold assets. This departure from Mexican operations may signal jurisdiction concerns given limited recent permitting activity. Coeur Mining's acquisition of New Gold demonstrated valuation arbitrage opportunities, with the U.S.-domiciled company leveraging its 50% premium to double operational scale while achieving 40% net accretion.Strategic investments are flowing downstream from major producers to developers and explorers. Gold Fields invested $50 million in Founders Metals targeting Suriname projects, while B2Gold deployed $10 million into Prospector Metals for Yukon exploration. These investments represent modest commitments relative to daily free cash flow generation Agnico's $180 million Perpetua investment equals just ten days of current free cash flow.The preference for cash transactions injects capital directly into specialist mining funds likely to redeploy within the sector, creating a multiplier effect. Development-stage assets trading at 0.4 times net asset value versus full NAV multiples for producers enable immediate accretion through strategic acquisitions.This capital migration down the market capitalization structure from major producers to mid-tier companies, developers, and explorers represents an early-stage phenomenon with substantial additional activity expected as producer profitability compounds at sustained gold prices.Sign up for Crux Investor: https://cruxinvestor.com

Houby jsou vynikající surovina, která dokáže oživit širokou škálu pokrmů. Sušení je výborným způsobem, jak uchovat sezónní houby na delší dobu. Jejich chuť je pak často intenzivnější než v případě čerstvých. Navíc mají dlouhou trvanlivost.

Cilvēkus visos laikos saistījuši baisi stāsti, kriminālās ziņas un viss mīklainais un neatklātais. Vai tās būtu kādas paranormālas parādībās, detektīvs vai šausmu filma - tie visi rada aizrautību un zināmu devu adrenalīna. Kāpēc cilvēki labprāt izvēlas baidīties un kāpēc mūs saista nezināmais? Ko par to stāsta folkloras un psiholoģijas pētījumi? Raidījumā Zināmais nezināmajā sarunājas Latvijas Universitātes Humanitāro zinātņu fakultātes pētnieks Ingus Barovskis un psihoterapeits, RSU Psihosomatikās medicīnas un psihoterapijas katedras docents Artūrs Utināns. Par spokiem runājot, kāpēc mēs dažkārt baidāmies no izdomātiem tēliem, nevis no reālām dzīves situācijām un problēmām, piemēram, slikta dzīvesveida, ka tas radīt gan slimības vai izraisīt pat nāvi. Kāpēc iedomu spoks dažkārt nobiedē vairāk nekā neveselīgs dzīvesveids? Artūrs Utināns: Tas ir smadzeņu evolūcijas likums, bioloģiskā evolūcija ir konservatīvāka par kulturālo evolūciju. Tāpēc, piemēram, var pajautāt, kāpēc cilvēki baidās no zirnekļa? Ja būs 20 sieviešu auditorija, vismaz vienai noteikti būs zirnekļa fobija. Vēl kādai varētu būt čūsku vai peļu fobija. Es 32 prakses gados ne reizi neesmu nevienu cilvēku redzējis, kam būtu pistoļu fobija, piemēram. Šī zirnekļu, čūsku, peļu, žurku fobija - tā ir dispozīcija no mūsu evolucionārās pagātnes, kad mēs izgājām no Āfrikas, un šie dzīvnieki bija bīstami vai peles un žurkas pārnēsāja kaut kādas slimības. Līdz ar to tie cilvēki, kas turējās vairāk pa gabalu, tie labāk izdzīvoja. Lai arī mūsu smadzenēm nebija patiesā skaidrojuma, kāpēc tāda maza, pelēka pelīte varētu būt bīstama.  Savukārt tas, kas nāk ar kultūru, piemēram, holesterīna līmenis un glikozes līmenis asinīs, to mūsu smadzenes tā neasimilē. Nav tā, ka mūsu zemapziņā konkrēti zirneklis ierakstās kā fobiskais objekts, bet dispozīcija, ka vieni objekti izsauc bailes vieglāk un fobijas, savukārt tie citi jaunie kulturālie - mazāk. Tāpat kā cilvēki automašīnās iet bojā daudz biežāk nekā lidmašīnu katastrofās, bet fobija lidot vai fobija no augstuma mums kā pērtiķu turpinātājiem, kas lēkāja pa kokiem un varēja nokrist no zara, ir aktuālāka, nekā iedomāties, ka automašīna ir daudz bīstamāka. Vai līdzīgi ir mainījies tas, par ko mītiskajos stāstos vai mistērijās un filmās mēģina mums šīs bailes radīt. Mūs vairs nenobiedēs ar kaut ko, ar ko varēja nobiedēt varbūt cilvēku pirms simts un 1000 gadiem. Ingus Barovskis: Man jau pat gribas jautāt: ar ko vispār vēl var nobiedēt mūsdienu cilvēku? Vai tad mēs visu jau neesam redzējuši? Zombijs ir redzēts, pele jau arī ir redzēta... Rakstniekam Vladimiram Kaijakam gan 70. gadu beigās iznāca stāsts "Zirneklis", kur arī biedē ar zirnekli, kurš kļūst milzīgi liels un līdzīgi kā amerikāņu filmās mēdz ieturēties ar cilvēku.  Protams, tas baiļu objekts, respektīvi, tas objekts, kuram būtu jāizraisa bailes, mainās līdz ar kultūras periodiem. Tas mainās arī ar to aspektu, kurš piedāvā šo baiļu objektu. Ja paskatāmies senākās kristietības idejās - kas ir ellē? Kārtīgam cilvēkam ir jābaidās no elles. Tad ir visnotaļ krāšņi aprakstīti tie radījumi, kas cilvēku tur sagaidīs, velni, dēmoni un tā tālāk. Neviens negrib tur nonākt un sastapties ar šiem radījumiem. Un gluži vienkārši cilvēks dara to, lai tas nenotiktu. Pamatā, protams, ir ticība. Manuprāt, ja mēs neticam kaut kam, mēs nebaidāmies. Ja mēs neticam spokiem, diez vai mēs iedomāsimies, ka tas, kas uzmirdzēja kaut kur pagriezienā, ka tas ir spoks. Tāpat, ja skatāmies latviešu mitoloģijas kontekstā - baidās no tā, kas ir svarīgs, baidās no tā, kas ir arī nozīmīgs. Piemēram, zeme, htoniskais. Kāpēc baidīties no htoniskā? Čūska ir htoniskā būtne, saistīta ar lielo pirmmāti, ar atdzimšanu. Ko tur baidīties? Bet baidās no tā, kas svarīgs un pret kuru kaut kā ne tā izturoties, var kaitēt. Ja izdara kaut ko ne tā, kā vajag, var nebūt raža, var nebūt auglība. Tāpēc tas rada bailes.  Ko dara maza pelīte, kāpēc baidīties? Pele nonāk pazemē, viņa ir kā mediators, šeit, protams, runāju no mitoloģiskā skatījuma, viņa ir kā mediators starp šo pasauli un pazemes pasauli. Un tas jau uzreiz ir diezgan bīstami. Iespējams, tas kaut kā vēl joprojām reprezentējas cilvēka domāšanā, cilvēka uzskatos. Es šobrīd filozofēju. Raidījumā noslēgumā zinātnes ziņas Lai neraudātu, sīpolu iesaka griezt ar asu nazi, bet lēnām Iepsējams beidzot rasts risinājums, kā raudāt mazāk, griežot sīpolus. Tā kā pie vainas ir sīpolu sulā esošā viela - kāds sērorganisko savienojumu klases oksīds, zinātnieki no Cornela universitātes ASV izmērījuši, ka, griežot sīpolus ar asiem nažiem un lēnākām kustībām, tā sulā esošās attiecīgās vielas molekulas izplatās lēnāk un mazākā apjomā, tā pasargājot acis no asarošanas. Aplūkojot sīpolu griešanu augstas izšķirtspējas mikroskopā, pētnieki secinājuši, ka, griežot sīpolus ar asākiem nažiem, tiek pielikts mazāk spēka to mizu saspiešanai, kā rezultātā sīpolos esošās sulas pilieni gaisā izplatās mazāk un līdz acīm nemaz nenonāk. Zinātnieki rada “superkoksni”, kas ir stiprāka par tēraudu Šāda vēsts, kas publicēta “CNN” tīmekļa vietnē, nonākusi mūsu uzmanības lokā šonedēļ. Tiesa, “superkoksnes” pētījumi aizsākušies jau agrāk, tos īstenojis materiālzinātnieks, Jeilas Universitātes profesors Liangbings Hu. Pirms vairāk nekā desmit gadiem viņš uzsācis meklējumus, kā inovatīvi pārveidot koksni, bet galvenais mērķis - padarīt koksni stiprāku. 2017. gadā viņa darbībā noticis izrāviens, kas pēc tam aprakstīts publikācijā vietnē “Nature”. Profesors Hu koksni vispirms vārījis ūdens vannā ar izvēlētām ķīmiskām vielām, pēc tam koksni karsti presējis, lai to padarītu ievērojami blīvāku. Nedēļu ilgā procesa beigās iegūtajai koksnei stiprības un svara attiecība bijusi “augstāka nekā lielākajai daļai strukturālo metālu un sakausējumu”. Tā savulaik teikts publikācijā “Nature”, un šobrīd “superkoksne” tiek piedāvāta komerciālai ražošanai.  Cik sens ir šis “superkoksnes” stāsts globālā un Latvijas kontekstā? Kas pašmāju zinātniekiem, kuri ikdienā strādā ar koksnes pētījumiem, koksnes blīvināšanu un lignīna noņemšanas procesiem šķiet jau pazīstams un kas ir jauns? Stāsta Latvijas Valsts koksnes ķīmijas institūta Celulozes laboratorijas vadošā pētniece Laura Andže.

Houby jsou vynikající surovina, která dokáže oživit širokou škálu pokrmů. Sušení je výborným způsobem, jak uchovat sezónní houby na delší dobu. Jejich chuť je pak často intenzivnější než v případě čerstvých. Navíc mají dlouhou trvanlivost.

In this KE Report company update - recorded live from the floor of the New Orleans Investment Conference - I speak with Stephen Soock, VP of Investor Relations and Development at Heliostar Metals (TSX.V:HSTR - OTCQX:HSTXF - FSE:RG1). A former mining analyst turned executive, Stephen shares his perspective on valuing and growing a junior producer now generating cash flow. Key Discussion Highlights: Career Shift: From mining engineer and Bay Street analyst to VP at Heliostar. Company Transition: Now producing in Mexico and advancing the Ana Paula Gold Project toward ~100k oz/year by 2028. Valuation View: Sees Heliostar as an organically funded developer, using cash flow to de-risk growth. NAV & Gold Prices: Balancing realistic discount rates with conservative long-term pricing. Mexico Operations: Positive experience under the current administration with continued permitting progress. Growth Plans: Targeting 500k oz/year by decade's end through internal growth and selective acquisitions. M&A Landscape: Industry consolidation creating space for new mid-tier producers like Heliostar. Please email me at Fleck@kereport.com with any follow up questions for Charles.    Click here to visit the Heliostar Metals website to learn more about the Company   -------------- For more market commentary & interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

A daily quote to inspire the mind, gratitude to warm the soul, and guided breathing to energize the body. Quote: "Don't compromise yourself. You are all you've got." -Janis Joplin Gratitude: For people who work at clothing stores, whose service often goes unnoticed. Guided Breathing: Equal Breathing. Visit TheDailyRefresh.com to share your unique piece of gratitude which will be featured on an upcoming episode, and make sure to watch the tutorial of how to make The Daily Refresh part of your Alexa Flash Briefings! Call to action: If there's something unique YOU are grateful for, let me know and I'll share it on an upcoming episode. Simply visit TheDailyRefresh.com and click the word 'Gratitude e' in the Nav bar!

Previous guest Mark Withee (C-130 Nav) joins us to talk all things aviation.Go here to support the channel. https://www.themoverandgonkyshow.comMost Mondays at 8PM ET, Mover (F-16, F/A-18, T-38, 737, 787, helicopter pilot, author, cop, and wanna be race car driver) and Gonky (F/A-18, T-38, A320, dirt bike racer, author, and awesome dad) discuss everything from aviation to racing to life and anything in between. #MoverAndGonky #FighterPilot #AviationPodcast #MilitaryAviation #PilotTalk #JetPilots #AviationNews #AviationCommunity #CrashAnalysis #CombatAviation #AviationHumor #PilotLife #AviationDiscussion #LiveShow #VeteranPilotsMore About Mover:Mover's YouTube Channel: https://www.youtube.com/@CWLemoineLooking for a good book? https://www.cwlemoine.comMore About Gonky:Gonky's YouTube Channel: https://www.youtube.com/@therealgonkyKids Coloring and Activity Books! https://www.amazon.com/stores/author/B0CDS4C68Y*The appearance of U.S. Department of Defense (DoD) visual information does not imply or constitute DoD endorsement.Views presented are our own or our guests and do not represent the views of DoD or its Components.*

Welcome back to another episode of Upside at the EUVC Podcast, where ⁠Dan Bowyer⁠,⁠ Mads Jensen⁠ of ⁠SuperSeed⁠, ⁠Lomax Ward⁠ of ⁠Outsized Ventures⁠ and ⁠Andrew J Scott⁠ of ⁠7percent Ventures⁠, and Lomax unpack the forces shaping European venture capital.This week's conversation spans the spectrum, from AI moratoriums and political overreach to funding freezes, LP pullbacks, and the question of whether Europe still dares to dream big.The crew digs into whether regulation is protecting society or suffocating innovation, the chilling effect of capital retreat, and how optimism can be rebuilt amid macro fatigue.

Open-End vs. Closed-End Funds: The Real Difference (Without the Fluff) Let's clear something up — not all funds are created equal. You've probably heard of mutual funds and closed-end funds, and maybe someone even told you they're “basically the same.” They're not. Not even close. Here's the no-BS breakdown. 1. Open-End Funds: The Mutual Fund You Actually Know This is your classic mutual fund. It's “open” because new shares can be created or redeemed every day. You invest directly with the fund company, not through the market. Price: Always based on NAV (Net Asset Value), calculated at the end of each trading day. No discounts. No premiums. Liquidity: You can cash out anytime the market's open, and the fund company literally redeems your shares for cash. Flow of Money: Investors move in and out freely — the fund grows or shrinks with investor demand. Example: Think Fidelity Contrafund or Vanguard 500 Index Fund. Boring. Reliable. Steady as she goes. Bottom line: You buy it, they issue new shares. You sell it, they cancel shares. NAV is king. 2. Closed-End Funds: The Wall Street Wildcard Closed-end funds (CEFs) are built different. When they launch, they issue a fixed number of shares in an IPO — just like a company going public. After that, those shares trade on an exchange, like stocks. Price: Whatever the market says. Could be above NAV (premium) or below NAV (discount) — and it often is. Liquidity: You trade them like any stock — intraday, any time. Leverage: Many closed-end funds borrow money to juice returns. When markets swing, these things move hard — up or down. Flow of Money: New investors don't give money to the fund; they buy existing shares from other investors. Bottom line: CEFs live in the market, not in the manager's office. Prices move with supply and demand, not the fund's actual value. It's Wall Street meets Vegas.

Tadeáš Šíma dorazil na své cestě z Kapského Města domů do Prachatic už do v pořadí dvanáctého a zřejmě předposledního afrického státu – do Ugandy. „Žije tady 50 milionů obyvatel a představte si, že průměrný věk je necelých 17 let,“ představuje druhou věkově nejmladší zemi světa. Do Ugandy Tadeáš nezamířil náhodou. Navštívil zde národní park Mburo, ale taky dobrovolníky z české organizace Ssuubo (Naděje), kteří v zemi pomáhají dětem se srpkovitou anémií.

A daily quote to inspire the mind, gratitude to warm the soul, and guided breathing to energize the body. Quote: "Example has more followers than reason." -John Christian Bovee Gratitude: For people who get up early in the morning to clean your streets and drive your busses and trains. Guided Breathing: Equal Breathing. Visit TheDailyRefresh.com to share your unique piece of gratitude which will be featured on an upcoming episode, and make sure to watch the tutorial of how to make The Daily Refresh part of your Alexa Flash Briefings! Call to action: If you're not listening to this on your Alexa, you should be! Visit TheDailyRefresh.com and click on the word Alexa in the Nav bar for a tutorial on making The Daily Refresh one of your Flash Briefings.

Tímto podtitulem nazval český diplomat Jaroslav Kurfürst svoji knihu o příběhu ruské geopolitiky. „Je to hutné. Prokousal se stohy literatury od různých ruských myslitelů a já jsem mu za to strašně vděčný, protože už je teď číst nemusím,“ chválí tuto studii Ondřej Soukup v bonusovém materiálu podcastu Na Východ! A spolu s Josefem Pazderkou přidávají další doporučení na čtení o ruském pocitu výjimečnosti, včetně knihy Tomáše Glance a Jana Bělíčka Ruská duše neexistuje.

Deportace, k nimž přistoupil Donald Trump, se dotýkají i kdysi svým způsobem privilegovaných přistěhovalců – Kubánců. Ti byli po svém příjezdu do Miami dekády považováni za hrdiny, za ty, kteří se dostali z drtivého sevření Fidela Castra. Navíc před ním utíkali po moři, tedy Floridskou úžinou plnou žraloků, zrádných proudů a rychle se měnícího počasí.

Hogy néz ki egy tízmilliárdos nagyságrendű körhintacsalás? És mit tud ellene tenni az állam? A Dohánygyár legújabb adásában Székely Saroltával és Haász Jánossal, a 444 gazdasági újságíróival jó sokat beszélünk fiktív cukrokról, megemlékezünk az Utolsó vacsoráról, és még az is kiderül, hogy mi az a fordított áfa, és mire jó. Bővebben: 00:00 - János fellapozza negyedévenként a NAV feketelistáját. Jó dolgok szoktak kiesni belőle. Például a rejtélyes lengyel férfi, aki Magyarországra jött, és egy év alatt kilapátolt innen 1,9 milliárd forintot. 02:09 - Beszéljünk kicsit az áfabevételekről. 06:26 - Sokan csípik le a kifli csücskét? Hogyan tudja ezt megakadályozni az állam? 09:06 - Hogy épül ki egy olyan céghálózat, ami milliárdokat tud kilapátolni a rendszerből? Ismerkedjünk meg a körhintacsalásokkal. Meg az ötdimenziós sakktáblával. 12:59 - Oké, eladtad ugyanazt a cukrot tízszer. Mi van utána? 16:51 - Helló haver, ennek a cukornak itt már nincs helye. Nem ciki ez a NAV-nak? 23:00 - Ismerkedjünk meg a fordított áfával! Lejátsszuk fejben, hogy is megy ez. 28:21 - Ha most minden jobb, eddig miért nem volt így? És miért nincs így mindenhol? 32:53: Nem azért lesz minden jobb, mert több pénz jön be, hanem azért, mert kevesebb megy ki. Olvasnivalók, időrendben: Egy rejtélyes lengyel férfi Magyarországra jött, és egy év alatt eltüntetett innen 1,9 milliárd forintot Semmiből feltűnt román és lengyel befektető, 30 milliárdos forgalom egy szempillantás alatt, cégek ezrei egyetlen házban – így működött a tízmilliárdokat elcsaló gázmaffia Újabb gázmaffiás cégek és Mészáros Lőrinc esküvőjén is dolgozó őrző-védő társaság a NAV új feketelistáján Egy 28 éves nő elindult Ózdról 3 millió forinttal, és egy év alatt összehozott 4 milliárdnyi adótartozást A gázmaffia annyi adót csalt el, hogy az már több mint egy éve feltűnt a kormánynak, ősszel törvényt is módosítottak miatta Illusztráció: Kiss Bence/444See omnystudio.com/listener for privacy information.

A daily quote to inspire the mind, gratitude to warm the soul, and guided breathing to energize the body. Quote: "Everybody has a product to sell—no matter whether you're an employee, a founder, or an investor. It's true even if your company consists of just you and your computer. Look around. If you don't see any salespeople, you're the salesperson." - Peter Theil Gratitude: For seasons, no matter how many we experience and don't experience, their mere existence is proof that things are meant to change. Guided Breathing: Equal Breathing. Visit TheDailyRefresh.com to share your unique piece of gratitude which will be featured on an upcoming episode, and make sure to watch the tutorial of how to make The Daily Refresh part of your Alexa Flash Briefings! Call to action: If there's something unique YOU are grateful for, let me know and I'll share it on an upcoming episode. Simply visit TheDailyRefresh.com and click the word 'Gratitude e' in the Nav bar!

A daily quote to inspire the mind, gratitude to warm the soul, and guided breathing to energize the body. Quote: “Founders only sell [their company] when they have no more concrete visions for the company, in which case the acquirer probably overpaid; definite founders with robust plans don't sell, which means the offer wasn't high enough. When Yahoo! offered to buy Facebook for $1 billion in July 2006, I thought we should at least consider it. But Mark Zuckerberg walked into the board meeting and announced: “Okay, guys, this is just a formality, it shouldn't take more than 10 minutes. We're obviously not going to sell here.'” - Peter Theil Gratitude: Keyboard Shortcuts Guided Breathing: Equal Breathing. Visit TheDailyRefresh.com to share your unique piece of gratitude which will be featured on an upcoming episode, and make sure to watch the tutorial of how to make The Daily Refresh part of your Alexa Flash Briefings! Call to action: If you're not listening to this on your Alexa, you should be! Visit TheDailyRefresh.com and click on the word Alexa in the Nav bar for a tutorial on making The Daily Refresh one of your Flash Briefings.

Private equity has long promised smooth returns, operational excellence, and sophisticated diversification. But behind the pitch decks and performance charts lies a growing crisis. In this video, we explore: