Business
California cracks down on Montana Loophole luxury car tax evasion
‘The Big Money Show’ examines blue state tax policies as the wealthy flock to low-tax states.
As California faces a billionaire exodus, state officials are continuing to target the wealthy, with a crackdown on individuals who register luxury vehicles out of state to avoid California taxes and registration fees.
Known as the “Montana Loophole,” the practice involves California residents purchasing and registering luxury vehicles through a Montana-based limited liability company, LLC, because Montana has no statewide sales tax and has significantly lower registration fees than the Golden State.
Montana allows out-of-state owners to purchase and title vehicles there on paper, even when the vehicles are primarily used in another state, according to the California Department of Tax and Fee Administration (CDTFA).
On March 6, the CDTFA and the DMV announced they had opened more than 400 investigations into high-end vehicle buyers and begun nearly 300 audits of dealers in an attempt to recover millions in lost revenue.

California AG Rob Bonta announced charges against over a dozen residents involved in alleged tax evasion schemes involving luxury car purchases registered out of state. (Vivien Killilea/Getty Images for Athletes vs. Cancer / Getty Images)
CLIMATE EXECUTIVE WARNS CALIFORNIA ‘FUNCTIONALLY BANKRUPT,’ $1T SHORTFALL COULD SHAKE NATION
The state agency estimates that since 2023, about 2,500 sales across nearly 500 California dealerships to customers claiming to use the vehicle in Montana have cost the state more than $10 million annually in lost revenue.
California Attorney General Rob Bonta’s office also announced charges against 14 Bay Area individuals in an alleged tax evasion scheme involving more than $20 million worth of luxury vehicles registered out of state. According to Bonta’s office, none of the vehicles, including McLarens, Porsches and Ferraris, were shipped to or used outside California, and the defendants allegedly evaded more than $1.8 million in state taxes.
“CDTFA is working to close this loophole that erodes California’s revenue base,” said California Department of Tax and Fee Administration Director Trista Gonzalez in a press release. “Our department is identifying questionable transactions through state partnerships to protect the integrity of California’s tax system while ensuring the tax is paid to support our schools, roads, public safety, and essential services that all Californians depend on.”

A view of the California state capitol building on National Urban League California Legislative Advocacy Day on March 13, 2024, in Sacramento, California. (Arturo Holmes/Getty Images for National Urban League / Getty Images)
CLICK HERE FOR MORE COVERAGE OF MEDIA AND CULTURE
Under state law, residents owe California sales tax on vehicles that are not first used and kept out of state for at least 12 months, according to the CDTFA. Those who attempt to avoid these taxes can face significant penalties, including up to 50% of the tax due.
In December 2024, the state agency sent a warning letter to California auto dealers about the tax-evasion scheme, saying they could be held liable for taxes if they failed to keep proper shipping and delivery documents or if they did not actually ship the vehicle out of state.
“We’re talking about really large, hefty sales prices on these vehicles. So uncovering even a handful of them makes a large, large impact on our revenue for our state that provides vital services for Californians,” Shannon Robinson of the CDTFA told the LA Times in a report published Friday.

The Ferrari Testarossa 849 (Ferrari)
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The tax enforcement comes as California’s most wealthy are reportedly fleeing the state over concerns about a looming wealth tax that would impose a 5% tax on the net worth of residents with assets exceeding $1 billion.
California also faces a projected $18 billion deficit in 2026–2027, according to the Legislative Analyst’s Office.
Business
Timeless Tracks That Shaped Hip-Hop and Beyond
More than two decades after bursting onto the scene with “Through the Wire,” Kanye West, now known as Ye, has produced a catalog so influential that ranking his greatest songs remains a subjective yet endlessly debated exercise among critics, fans and music historians as of April 2026.
From soul-sampled anthems on his 2004 debut “The College Dropout” to the ambitious, genre-blending epics of “My Beautiful Dark Twisted Fantasy” and later experimental works, West’s music has consistently pushed hip-hop boundaries while delivering massive commercial hits. His recent 2026 album “Bully,” which earned mixed reviews with standout tracks like “All the Love,” has reignited conversations about his legacy even amid ongoing personal controversies.
Compilations from outlets such as Highsnobiety, RateYourMusic, Billboard and fan-driven lists on platforms like Album of the Year consistently highlight a core group of tracks that blend innovation, emotional depth, production brilliance and cultural impact. While no universal ranking exists, a consensus top 10 emerges when weighing critical acclaim, streaming numbers, awards recognition and lasting influence.

Here is one widely respected synthesis of Kanye West’s 10 best songs of all time, presented in ascending order:
10. “Stronger” (2007, from “Graduation”)
West’s Daft Punk-sampled hit became a stadium anthem and a symbol of his stadium-rap ambitions. The track’s pulsating electronic production and motivational lyrics about perseverance helped “Graduation” sell over 957,000 copies in its first week. It earned a Grammy for Best Rap Solo Performance and remains one of his most streamed songs, frequently appearing in sports montages and workout playlists.
9. “All Falls Down” (2004, from “The College Dropout”)
Featuring Syleena Johnson’s soulful chorus, this introspective cut tackled consumerism, self-doubt and racial identity with clever wordplay. Its chipmunk soul production style defined early Kanye and showcased his vulnerability at a time when bravado dominated rap. Critics praise its honesty, and it continues to resonate as a thoughtful critique of material culture.
8. “Jesus Walks” (2004, from “The College Dropout”)
One of West’s most daring early statements, “Jesus Walks” confronted industry skepticism about faith-based rap while addressing social issues like violence and redemption. The gospel-tinged beat and bold lyrics helped the song win two Grammys and cemented West as a risk-taker unafraid of controversy. Its video and message remain powerful decades later.
7. “Power” (2010, from “My Beautiful Dark Twisted Fantasy”)
Sampling King Crimson, this bombastic track served as a declaration of artistic supremacy. With its orchestral swells and defiant chorus, “Power” captured West at the peak of his creative confidence following a series of personal and professional setbacks. It has been hailed for its cinematic production and remains a concert staple.
6. “Heartless” (2008, from “808s & Heartbreak”)
Auto-Tune-heavy and emotionally raw, “Heartless” marked a pivotal shift toward melodic, minimalist production after West’s mother’s death. The song’s icy beat and candid lyrics about heartbreak influenced an entire generation of emo-rap and trap artists. Its massive streaming numbers reflect enduring popularity.
5. “Gold Digger” (2005, from “Late Registration”)
Featuring Jamie Foxx’s Ray Charles interpolation, this chart-topping single blended humor, social commentary and infectious hooks. It became West’s first No. 1 on the Billboard Hot 100 and showcased his knack for crafting pop-rap crossovers without sacrificing clever bars. The track’s cultural footprint includes countless memes and covers.
4. “Flashing Lights” (2007, from “Graduation”)
A cinematic masterpiece with sweeping strings and Dwele’s haunting vocals, “Flashing Lights” explored fame’s pitfalls through a luxurious yet melancholy lens. Many critics, including those at Highsnobiety, rank it among West’s most visionary productions for its atmospheric depth and storytelling. It exemplifies his evolution from backpack rapper to auteur.
3. “Blood on the Leaves” (2013, from “Yeezus”)
Sampling Nina Simone and TNGHT’s industrial beats, this track fused civil rights themes with personal excess in a bold, abrasive package. Its unconventional structure and raw energy made “Yeezus” a polarizing yet groundbreaking album. The song is frequently cited for its sonic risk-taking and social commentary.
2. “Runaway” (2010, from “My Beautiful Dark Twisted Fantasy”)
Often topping all-time lists, the nine-minute epic features Pusha T and a haunting piano coda where West repeatedly admits “I’m a jerk.” Recorded during a period of intense self-reflection, it blends self-loathing, apology and sonic ambition. Collider recently named it one of the greatest songs of the 21st century, praising its emotional rawness and artistic bravery.
1. “Through the Wire” (2003/2004, from “The College Dropout”)
West rapped through a wired-shut jaw after a near-fatal car crash, turning adversity into his breakthrough single. The chipmunk soul sample of Chaka Khan and gritty determination made it an instant classic. It established his producer-rapper duality and storytelling prowess, launching a career that would redefine hip-hop.
These selections draw from recurring appearances across critic and fan rankings as of early 2026. “Runaway” and “Flashing Lights” frequently occupy the top spots for their ambition, while early tracks like “Through the Wire” and “Jesus Walks” earn praise for foundational impact. Later works such as “Ghost Town” from “ye” or “Life of the Party” from “Donda (Deluxe)” sometimes crack extended lists for their introspection and guest features, including André 3000.
West’s influence extends far beyond individual songs. His production style — heavy on soul samples early on, then electronic experimentation and gospel elements — shaped artists from Drake and Travis Scott to modern trap and alternative rap. Collaborations like “Niggas in Paris” with Jay-Z and features on tracks with Rihanna and others amplified his reach.
Streaming data in 2026 shows “Heartless,” “Stronger” and “Gold Digger” among his most played tracks globally, while deep cuts like “Runaway” maintain cult status for their album context. “Bully,” released March 28, 2026, introduced new material such as “All the Love” and “Father” featuring Travis Scott, with some critics noting echoes of his classic soul-chipmunk sound alongside modern electronic touches. However, the album received lukewarm scores from Pitchfork and Rolling Stone, underscoring how West’s later output is often measured against his 2004-2013 peak.
Debates persist over inclusions. Some lists elevate “Ultralight Beam” or “No More Parties in LA” for their ensemble energy and storytelling. Others argue for “Bound 2” or “Fade” due to their cultural moments. Regional and generational tastes vary: older fans may favor “College Dropout” era tracks, while younger listeners stream “Father Stretch My Hands Pt. 1” heavily.
West’s personal controversies, including public statements and legal issues, have complicated his legacy. Yet his musical contributions remain undeniable. In 2026, as he continues releasing music and performing, new generations discover these tracks through playlists, samples in newer songs and viral social media moments.
Music scholars credit West with expanding hip-hop’s sonic palette and thematic range, blending high-art ambition with accessible hooks. His use of Auto-Tune on “808s & Heartbreak” inspired emo-rap, while the maximalist approach on “My Beautiful Dark Twisted Fantasy” influenced orchestral rap productions.
For newcomers, starting with the “College Dropout” through “Graduation” trilogy offers an accessible entry, followed by the ambitious “Fantasy” and experimental “Yeezus.” Playlists on Spotify and Apple Music curated by fans and outlets like Def Jam compile these essentials.
As of April 2026, Kanye West’s 10 best songs represent more than hits — they chronicle an artist’s evolution from hungry producer to global icon to polarizing figure. Whether through triumphant anthems or confessional ballads, these tracks capture the complexity that has kept his music relevant across generations.
Fans and critics alike continue to revisit and re-rank the catalog, ensuring that songs like “Runaway” and “Through the Wire” endure as benchmarks of hip-hop excellence. In an era of short attention spans and algorithm-driven discovery, West’s most acclaimed work reminds listeners of the power of bold vision and personal storytelling in popular music.
Business
Expert Picks for Every Need
Foldable smartphones have matured dramatically by April 2026, shedding much of their early bulk and fragility to become practical daily drivers with improved durability, battery life and multitasking capabilities. Leading models from Samsung, Google, Motorola and others now compete closely with traditional flagships while offering the unique appeal of a compact device that unfolds into a mini-tablet or stylish flip form factor.
Industry analysts and reviewers from outlets including PCMag, PhoneArena, ZDNet and Wirecutter highlight a clear top tier based on hands-on testing, real-world performance and value. While availability varies by region — with some Chinese brands like Honor and Oppo offering exceptional hardware but limited U.S. support — the following five stand out as the best foldable phones currently on the market.

1. Samsung Galaxy Z Fold 7 — Best Overall Book-Style Foldable
Samsung’s Galaxy Z Fold 7 earns frequent nods as the top foldable for most users thanks to its ultra-slim profile, premium build and polished software experience. Measuring just over 8mm thick when closed and weighing around 215 grams, it feels remarkably close to a conventional flagship yet unfolds into an expansive 8-inch inner display ideal for productivity, media consumption and split-screen multitasking.
The device features a bright 6.5-inch cover screen with 120Hz refresh rate, allowing full app functionality without unfolding. Powered by the Snapdragon 8 Elite for Galaxy processor, it delivers smooth performance across demanding tasks. Cameras have seen meaningful upgrades, with a standout 200-megapixel main sensor producing sharp, vibrant photos that rival non-foldable competitors.
Reviewers praise the refined hinge, improved crease visibility and long software support extending years into the future. Drawbacks include a premium price tag often starting near $1,900 and average battery life that may require midday top-ups for heavy users. Still, its ecosystem integration with Galaxy Watch, Buds and DeX mode makes it a compelling choice for Samsung loyalists and power users alike.
2. Google Pixel 10 Pro Fold — Best for Durability and Cameras
Google’s Pixel 10 Pro Fold stands out for its rugged construction and photography prowess. It boasts a full IP68 dust and water resistance rating — a rarity among foldables — along with enhanced hinge durability and drop protection on the main display. At roughly 258 grams, it feels more substantial than Samsung’s offering but rewards owners with reliable all-day performance.
The Tensor G5 chipset powers intuitive AI features, including real-time call translation, audio magic eraser and Gemini Live integration. Cameras shine with computational photography that delivers natural colors and excellent low-light results, making it a favorite for content creators. The 6.3-inch cover screen and large inner display support seamless multitasking with clean Android 16 software.
Battery life impresses in testing, often outlasting slimmer rivals. Pricing starts around $1,800, positioning it as a strong value for those prioritizing longevity and photography over the absolute thinnest design. Limitations include slightly warmer performance under sustained loads compared to Snapdragon-equipped devices.
3. Motorola Razr Ultra (2025/60 Ultra) — Best Flip-Style Foldable
For users seeking pocketable convenience with flair, the Motorola Razr Ultra delivers one of the most stylish and functional clamshell experiences. Its vertical fold design snaps shut into a compact square, while the generous external display supports full apps, notifications and even quick camera previews.
Equipped with strong battery life that frequently tops competitor flip models, the Razr Ultra handles daily tasks efficiently on its Snapdragon processor. The inner 7-inch display offers smooth 120Hz visuals, and the overall build feels premium with thoughtful details like a titanium hinge option in select variants. Cameras perform adequately for casual use, though they trail book-style models in versatility.
Reviewers highlight its fun factor and practicality for one-handed operation. Starting prices often land in the mid-$1,000 range, making it more accessible than premium book-style foldables. Potential downsides include a smaller unfolded screen compared to tablet-style devices and occasional software quirks in the Motorola skin.
4. Samsung Galaxy Z Flip 7 — Best Compact Flip for Everyday Use
Samsung’s Galaxy Z Flip 7 refines the flip formula with a larger 4.1-inch edge-to-edge cover screen that finally enables meaningful interaction without unfolding. The 6.9-inch inner display provides ample space when needed, while the overall design remains slim and lightweight for easy pocket carry.
Battery improvements help it last through a full day for moderate users, and the Exynos 2500 or Snapdragon variant (depending on region) ensures snappy performance. New DeX support on the Flip adds desktop-like productivity when connected to external displays. Cameras remain solid for social media and quick shots, with the main 50-megapixel sensor delivering reliable results.
Priced starting around $1,100, it offers strong value within the Samsung ecosystem. Critics note it can overheat during intensive multitasking and that battery claims sometimes exceed real-world endurance. Its stylish appeal and improved cover screen functionality make it a top pick for fashion-conscious users or those transitioning from traditional bar phones.
5. Honor Magic V5 — Best Ultra-Thin Alternative for Multitasking
The Honor Magic V5 earns acclaim for its exceptionally slim design, measuring under 9mm folded and around 4.4mm unfolded in some configurations. It targets users who want a near-nonexistent crease and premium feel without Samsung’s ecosystem lock-in.
Featuring a large inner display and capable outer screen, it excels at multitasking with smooth software optimizations. The Snapdragon 8 Elite processor paired with generous RAM handles heavy workloads, while a sizable silicon-carbon battery supports fast charging and extended use. Cameras offer competitive performance, particularly in daylight scenarios.
Availability may require importing in some markets, and software updates could lag behind Google or Samsung. Still, its combination of thinness, battery capacity and vibrant displays positions it as a compelling choice for enthusiasts seeking cutting-edge hardware at potentially competitive pricing.
Buying Considerations in 2026
Foldable phones now address many early criticisms: creases are subtler, hinges more robust and repair programs more widespread. Most top models promise four to seven years of software support, reducing obsolescence concerns. Battery technology has advanced, though heavy multitasking or camera use still drains power faster than slab phones.
Prices remain elevated, with book-style models often exceeding $1,800 and flips starting above $1,000. Trade-in deals, carrier promotions and installment plans can ease the cost. Buyers should consider ecosystem preferences — Samsung for seamless integration, Google for pure Android and AI, Motorola for flip charm.
Durability has improved markedly, but users should invest in quality cases and screen protectors. Coverage for accidental damage varies by manufacturer and carrier.
Regional factors matter: U.S. buyers enjoy broad carrier support for Samsung, Google and Motorola models, while international shoppers may access superior specs from Honor, Oppo, Vivo or Huawei at lower prices, albeit with potential Google service limitations on some devices.
The Future of Foldables
As 2026 progresses, expectations include further refinements such as even lighter builds, under-display cameras that eliminate notches and possible trifold designs from Samsung and others reaching wider markets. Apple’s rumored foldable iPhone could reshape the segment later in the year or in 2027.
For now, the market offers something for nearly every preference: productivity powerhouses, stylish compacts and durable all-rounders. Early adopters who hesitated in previous years will find 2026 models far more refined and reliable.
Consumers weighing a purchase should evaluate their primary needs — screen size for work, portability for travel or camera quality for photography — and test devices in-store when possible. With rapid iteration, waiting for carrier deals or next-generation hints may also pay off.
Foldables represent more than a novelty in 2026; they deliver genuine utility that enhances how many people work, create and consume content on the go. Whether opting for the versatile Galaxy Z Fold 7, the rugged Pixel 10 Pro Fold or a fun flip like the Razr Ultra, buyers are investing in devices that continue to evolve the smartphone experience.
Business
Can He Surpass Larry Bird’s Legacy?
At just 19 years old, Dallas Mavericks rookie Cooper Flagg has already etched his name into NBA history with a career-high 51-point explosion on April 3, 2026, becoming the first teenager ever to score 50 or more points in a game. The outburst, which included 19-of-30 shooting and six made threes in a 138-127 loss to the Orlando Magic, has intensified discussions about the young forward’s ceiling and whether he can one day surpass the legendary achievements of Larry Bird.
Flagg’s rookie season through 64 games shows impressive averages of 20.3 points, 6.6 rebounds and 4.5 assists per game on 46.7% shooting. He leads the Mavericks in multiple categories and ranks among a select group of players averaging 20 points, six rebounds and four assists — a list populated largely by established All-Stars and superstars like Nikola Jokic, Giannis Antetokounmpo and Luka Doncic. The 6-foot-9, 205-pound forward from Newport, Maine, has also set franchise rookie scoring records and become the youngest player to record a 40-point game with 10 or more rebounds.
These feats come as the Mavericks navigate a challenging rebuilding phase, often without consistent supporting talent around their prized No. 1 overall pick from the 2025 draft. Flagg has shouldered heavy minutes at 33.8 per game, contributing defensively with 1.2 steals and 0.9 blocks while showcasing playmaking vision that echoes elite two-way wings. His 51-point night capped a season filled with highlights, including a 49-point game in January that previously set the teenage scoring mark and multiple double-doubles.

Comparisons to Larry Bird, the Boston Celtics icon and fellow Maine native, emerged early in Flagg’s college career at Duke and have only grown louder. Bird entered the NBA at age 22 after four years at Indiana State, averaging 21.3 points, 10.4 rebounds and 4.5 assists as a rookie en route to Rookie of the Year honors. Over 13 seasons, Bird compiled 24.3 points, 10.0 rebounds and 6.3 assists per game, earning three NBA championships, three MVP awards, two Finals MVPs, 12 All-Star selections and a spot on the NBA’s 75th Anniversary Team.
Flagg, nearly four years younger than Bird was as a rookie, operates in a faster-paced, more athletic modern NBA with greater emphasis on spacing, three-point shooting and versatility. While Flagg’s rebounding and assist numbers trail Bird’s rookie marks, his scoring efficiency, defensive impact and ability to create in isolation or transition draw parallels to Bird’s basketball IQ, competitiveness and team-first mentality. Former Celtics players like Cedric Maxwell have noted similarities in shooting touch, facilitation and shot-blocking instincts.
Yet experts and analysts caution against premature conclusions. Bird transformed the Celtics into perennial contenders, leading them to titles in 1981, 1984 and 1986 while engaging in iconic rivalries with Magic Johnson’s Lakers. His clutch performances, trash-talking edge and unselfish play defined an era. Flagg, by contrast, plays on a Mavericks team that has struggled, with the rookie admitting the season has been “mentally taxing” amid frequent losses.
Discussions on podcasts and social media highlight the debate. Some, including commentators on “All The Smoke,” acknowledge Flagg’s superior athleticism and two-way potential but argue Bird’s intangibles and championship pedigree place him in a rare category. Others point out that matching Bird would require Flagg to lead multiple title runs, earn multiple MVPs and sustain elite production over a decade-plus career. Stephen Jackson and others have pushed back on early claims that Flagg could become the greatest white American player ever, emphasizing Bird’s unmatched impact.
Flagg himself has embraced the comparisons while staying grounded. He grew up studying Bird’s film, influenced by his family’s Celtics fandom. In a lighthearted commercial exchange, Bird quipped “Not if I’m guarding you” when Flagg playfully referenced surpassing him, underscoring the respect between the Maine legends. Flagg has described the mental grind of the NBA as a learning experience, focusing on development rather than individual accolades.
Projecting forward, Flagg’s trajectory appears promising. At his current pace, he is on track for strong Rookie of the Year consideration despite the team’s record. His ability to lead in 25-points, five-rebounds, five-assists games with zero turnovers ranks among the league’s best this season. As his body matures and the Mavericks add complementary pieces, many scouts envision him evolving into a perennial All-Star and potential MVP candidate.
Key factors will determine if Flagg can approach or exceed Bird’s legacy. Health is paramount; Bird’s career was shortened by back issues, while Flagg has already dealt with a foot sprain. Team success matters immensely — Bird thrived alongside Hall of Famers like Kevin McHale and Robert Parish. Flagg will need similar supporting casts or to elevate those around him, much like modern stars have done.
The modern game favors Flagg’s skill set. Today’s emphasis on positionless basketball, spacing and defensive versatility could allow his athleticism and playmaking to shine brighter than in Bird’s era. Flagg’s three-point shooting, though still developing at 27.8%, has shown flashes, and his efficiency inside the arc remains strong. Improved spacing and rule changes could amplify his impact compared to the physical, post-heavy 1980s.
Critics note that Bird’s intangibles — leadership, clutch gene and ability to make teammates better — set an extraordinarily high bar. Flagg has displayed poise and competitiveness, but translating rookie flashes into sustained dominance over 13 seasons requires consistency, adaptability and luck with injuries and roster construction.
Mavericks coaches and executives have expressed confidence in Flagg as the franchise cornerstone. His work ethic, basketball intelligence and willingness to play multiple positions align with what built championship cultures. As the team rebuilds, Flagg’s growth could accelerate with better talent around him.
In the broader NBA landscape, Flagg joins a wave of young stars redefining the league. His rookie exploits already rival or exceed those of recent No. 1 picks in certain metrics, fueling optimism. Yet surpassing Bird would place him among the all-time greats, a feat requiring multiple championships, individual awards and cultural impact.
For now, the question remains speculative. Flagg has the tools, mentality and early production to fuel the conversation for years. Bird’s legacy as one of the greatest to play remains secure, but the 19-year-old from Maine has given fans and analysts reason to dream about what his career might become.
As the 2025-26 season winds down, Flagg continues to chase history while the Mavericks focus on long-term development. Whether he ultimately surpasses Larry Legend depends on factors beyond any single rookie season. What is clear is that Cooper Flagg has arrived as a special talent, one whose journey will be measured against the highest standards in basketball lore.
Business
What Is A Quantum Computing Company?
John D/iStock via Getty Images

By Christopher Gannatti, CFA
There’s a quiet assumption embedded in thematic investing that rarely gets questioned:
Investors agree on what the theme actually is.
Often when speaking to investors, the concept hanging over the discussion
Business
No Shortage Of Volatility In Shortened Trading Week
No Shortage Of Volatility In Shortened Trading Week
Business
ETMarkets Smart Talk | Renewables, defence to lead in FY27; infra and gas stocks offer high-risk opportunities: Siddarth Bhamre
In an interaction with Kshitij Anand of ETMarkets, Siddarth Bhamre, Head, Institutional Research at Asit C. Mehta Investment Intermediate Ltd, highlighted that themes like renewables and defence are likely to remain at the forefront of investor interest, driven by structural tailwinds and policy support.
At the same time, he pointed out that sectors such as infrastructure and gas distribution, which have seen meaningful corrections due to their exposure to Middle East dynamics, could present high-risk, high-reward opportunities once the macro environment stabilises. Edited excerpts:
Q) Thanks for taking the time out. The FY26 year returns have turned negative due to geopolitical concerns around West Asia. How do you sum up the financial year?
A) In FY26, our markets absorbed a lot of shocks. It started with the announcement of tariffs by Trump. Markets took that in their stride, but news related to tariffs kept dictating market direction.
The emergence of AI as a potential threat to Indian IT companies, which have been one of the factors driving Indian economic growth, also capped the market’s upward journey.
And in the last month of the fiscal, this unfortunate and unnecessary war in West Asia broke the market’s back. These three factors have derailed the post-Covid bull run.
However, thanks to domestic liquidity, despite all these issues, markets in FY26 are down by just 5%.
Q) As we head towards FY27, what are the triggers one should keep in mind that could lead to a reversal for bulls?
A) Last year, India’s underperformance was mainly due to high valuations compared to other opportunities. Also, the macro headwinds in the last one year have largely been external in nature.
An immediate end to this war and easing supply pressures leading to a fall in energy prices would trigger a reversal, but it needs to happen soon.
A prolonged conflict will increase the severity of damage to the economy, and then a reversal may not happen as quickly as it can now.
It will be important for the rupee to stabilise against the dollar so that foreign investors gain confidence to invest in India.
Q) Which sectors should be on the radar for investors in FY27? Do you think there are sectors which have already corrected and are now available at attractive valuations?
A) Two sectors which will naturally attract the most attention now are renewable energy and defence. Solar as a theme was fizzling out due to oversupply and had seen a significant correction.
With such levels of dependency, India should accelerate the pace of increasing the share of renewable energy. Needless to mention that companies and sectors related to transmission will also attract attention.
Gas distribution companies and large infrastructure players have corrected significantly due to their dependency on the Middle East. They may correct further if the conflict continues, but so will most sectors.
However, once things stabilise, these names can quickly bring their revenue back to pre-war levels and hence can be high-risk additions to portfolios. It is a risk worth taking.
Q) How should one play gold and silver in the new financial year?
A) Gold and silver have shown extraordinary performance in the last year. Portfolios with exposure to precious metals have done well. However, in the last two months, volatility in these commodities has increased sharply.
Such volatility is not ideal for overall portfolios, and those without exposure are more than a year late in gold and a couple of quarters late in silver. It is difficult to gauge what may transpire in this asset class.
Q) How are we placed against peers in terms of valuations?
A) Year-to-date and over the last year, India has been among the worst-performing stock markets. Relative valuation depends not just on price performance but also on earnings growth.
The effects of this war will likely negatively impact Q4FY26, and so far it appears that even Q1FY27 earnings may be revised downwards significantly.
So recent underperformance may not make India immediately attractive compared to other markets. Also, strategic allocation tends to chase outperformance, which again does not work in India’s favour.
Valuations now look relatively better than a few months ago, but as earnings weaken, so will this valuation comfort.
Q) Will FII flows reverse in FY27? How are you reading flows, both domestic and global?
A) For FIIs, several factors determine exposure to markets. We discussed earnings and geopolitical sentiment, but another key factor is currency depreciation.
High valuations, price correction and increasing currency depreciation have led to FII selling. As these factors reverse, flows should improve, possibly in the second half of FY27.
As for domestic flows, they tend to follow equity performance. Returns over the past two to three years have not been very encouraging, making it difficult to expect a meaningful increase in domestic inflows in FY27.
Market performance has tested the patience of domestic investors. If the market continues to correct, it would not be surprising to see participants exiting.
(Disclaimer: Recommendations, suggestions, views and opinions given by experts are their own. These do not represent the views of The Economic Times.)
Business
(VIDEO) Mavs Rookie Cooper Flagg Scores 51 Points to Become First Teen to Reach 50 in NBA Game
Cooper Flagg erupted for a career-high 51 points Friday night, becoming the first teenager in NBA history to score 50 or more points in a game as the Dallas Mavericks fell to the Orlando Magic 138-127 at American Airlines Center.

The 19-year-old rookie forward, selected No. 1 overall in the 2025 NBA Draft out of Duke, delivered an explosive performance that rewrote the record books despite the Mavericks’ loss. At 19 years and 103 days old, Flagg surpassed previous marks to claim the distinction as the youngest player ever to reach the 50-point plateau.
Flagg finished with 51 points on 19-of-30 shooting from the field, including 6 of 9 from three-point range, and a perfect 7 of 7 from the free-throw line. He added six rebounds, three assists, three steals and one block in 34 minutes. The outburst came in a game where tensions boiled over early when Flagg appeared to be fouled without a call, leading to the ejection of Mavericks coach Jason Kidd and a teammate for protesting the no-call.
Less than a quarter later, Flagg had turned the frustration into fuel. He poured in 24 points in the fourth quarter alone, capping the historic night with an and-one that pushed him past 50. After converting the free throw for his 51st point with 2:05 remaining, Flagg exited to a standing ovation from the Dallas crowd.
The performance marked Flagg’s second-highest scoring output as a teenager after he dropped 49 points against the Charlotte Hornets on Jan. 29. It also made him just the ninth rookie in NBA history to score 50 or more points, joining legends such as Wilt Chamberlain, Rick Barry, Elgin Baylor, Kareem Abdul-Jabbar and Allen Iverson. Among rookies in the last 30 years, he became only the third to achieve the feat, following Brandon Jennings in 2009 and Iverson in 1997.
Mavericks interim leadership, with assistant Frank Vogel filling in after Kidd’s ejection, briefly pulled Flagg late in the fourth when he sat at 45 points. Upon his return, the Duke product drilled a corner three-pointer before driving for the bucket-and-foul that sealed the milestone.
Orlando’s balanced attack proved too much for Dallas, which dropped its 14th straight home game. Paolo Banchero led the Magic with 28 points, while the visitors shot efficiently and controlled the tempo in the second half. The Mavericks struggled to find secondary scoring, leaving Flagg to shoulder much of the offensive load.
Flagg’s rookie season has been marked by flashes of brilliance amid the challenges of a rebuilding Dallas team. Entering Friday’s contest, he was averaging approximately 20.3 points, 6.6 rebounds and 4.5 assists per game across 64 appearances, showcasing a well-rounded game that includes strong defensive instincts for a player his age. His efficiency and playmaking have drawn comparisons to elite two-way wings, though the Mavericks’ overall record has limited team success.
The 6-foot-9, 205-pound forward has already shattered several franchise and league rookie milestones this season. He previously broke the Mavericks’ rookie scoring record and became the youngest player in NBA history to record a 40-point game with 10 or more rebounds. His rapid ascent has fueled Rookie of the Year discussions, even as the team navigates a difficult campaign without star guard Luka Doncic for portions of the year due to injuries.
Friday’s game highlighted Flagg’s scoring versatility. He attacked the rim with authority, knocked down open threes and converted tough mid-range jumpers. His 63.3% field-goal shooting for the night underscored his ability to finish through contact and create his own shot against NBA defenders.
Teammates and coaches expressed awe at the performance. “He’s special,” one Mavericks player said postgame. “To see a 19-year-old do what he did tonight, especially after the early frustration, shows the kind of competitor he is.” Vogel, who has guided the team through recent stretches, praised Flagg’s poise and work ethic.
The historic night arrives as the NBA regular season winds down, with Dallas fighting for positioning in a crowded Western Conference. Flagg’s emergence offers hope for the franchise’s future, positioning him as a potential cornerstone alongside returning veterans.
NBA Commissioner Adam Silver and league officials took note of the achievement on social media, congratulating the young star. Analysts quickly pointed out that Flagg now holds the top two highest-scoring games by a teenager in league annals.
Flagg was born on Dec. 21, 2006, making him one of the youngest players in the league this season. His pre-draft hype as a consensus top prospect stemmed from his elite athleticism, basketball IQ and defensive versatility at Duke, where he helped lead the Blue Devils deep into the NCAA Tournament.
In the broader context of young NBA phenoms, Flagg’s feat eclipses previous teenage performances. Brandon Jennings held the prior youngest 50-point game record at 20 years and 52 days with 55 points in 2009. LeBron James and Devin Booker also achieved 50-point games before turning 21, but none as teenagers.
The Mavericks’ loss extended their home struggles, but Flagg’s individual brilliance provided a silver lining. Dallas shot well from the field at times but couldn’t match Orlando’s pace or defensive execution in crunch time.
Postgame, Flagg remained humble. “It’s a great feeling, but we came up short as a team,” he told reporters. “I just tried to play hard and help my teammates. The record is cool, but winning is what matters.”
The performance could bolster Flagg’s case in end-of-season awards voting. He has already logged multiple 40-point games this season, the most by a rookie in recent memory in some stretches, and leads the Mavericks in several statistical categories.
As the league heads toward the playoffs, Flagg’s trajectory suggests a bright future. Scouts and executives have marveled at his ability to impact both ends of the floor at such a young age, with his defensive versatility complementing his growing offensive arsenal.
The game also featured strong contributions from Magic veterans and young talent, underscoring Orlando’s competitiveness this season. Their victory improved their standing in the Eastern Conference playoff race.
For the Mavericks, the focus remains on developing young talent like Flagg while managing injuries and integrating pieces around him. His 51-point explosion serves as a reminder of the star potential that prompted Dallas to draft him first overall.
Fans and analysts flooded social media with highlights of Flagg’s buckets, from thunderous dunks to step-back threes. The moment he reached 50 — a driving layup followed by the free throw — quickly became a viral clip.
NBA history is filled with rookies who flashed potential before becoming superstars. Flagg now joins that conversation with a signature performance that will be remembered for years.
As Saturday dawned, the basketball world continued to digest the achievement. At just 19, Flagg has already etched his name alongside some of the game’s greats in the record books.
The Mavericks will look to build on the momentum from Flagg’s big night as they close out the regular season. For a franchise with championship aspirations in the years ahead, nights like Friday provide both excitement and a blueprint for what could come.
Flagg’s stats for the season reflect steady growth. He has improved his scoring average as the year progressed, showing increased confidence and efficiency. His ability to rebound and facilitate at his size adds layers to his game that could make him a perennial All-Star candidate.
In the end, despite the final score, April 3, 2026, belonged to Cooper Flagg. His 51 points not only shattered records but also announced to the league that a new generation’s brightest star has arrived — and he is just getting started.
Business
Ukrainian drone and missile attack kills at least one in southern Russia, governor says

Ukrainian drone and missile attack kills at least one in southern Russia, governor says
Business
Q1 2026 Dividend Check-In: Highest Quarterly Hike Percentage Since 2019
Wall Street Horizon provides institutional traders and investors with the most accurate and comprehensive forward-looking event data including earnings calendars, dividend dates, option expiration dates, splits, investor conferences and more. Covering 9,500 companies worldwide, we offer more than 40 corporate event types via a range of delivery options. By keeping clients apprised of critical market-moving events and event revisions, our data empowers financial professionals to take advantage of or avoid the ensuing volatility.
Business
A Dog, A Diagnosis And A Different Way To Understand AI
A Dog, A Diagnosis And A Different Way To Understand AI
-
NewsBeat2 days agoSteven Gerrard disagrees with Gary Neville over ‘shock’ Chelsea and Arsenal claim | Football
-
Business1 day agoNo Jackpot Winner and $194 Million Prize Rolls Over
-
Entertainment5 days ago
Fans slam 'heartbreaking' Barbie Dream Fest convention debacle with 'cardboard cutout' experience
-
Fashion13 hours agoWeekend Open Thread: Spanx – Corporette.com
-
Crypto World2 days agoGold Price Prediction: Worst Month in 17 Years fo Save Haven Rock
-
Tech5 days agoThe Pixel 10a doesn’t have a camera bump, and it’s great
-
Entertainment6 days agoLana Del Rey Celebrates Her Husband’s 51st Birthday In New Post
-
Crypto World4 days ago
Dems press CFTC, ethics board on prediction-market insider trades
-
Tech5 days agoAvatar Legends: The Fighting Game comes out in July and it looks pretty slick
-
Sports4 days agoTallest college basketball player ever, standing at 7-foot-9, entering transfer portal
-
Fashion6 days agoAmazon Sundays: Soft Spring Layers
-
Tech4 days agoEE TV is using AI to help you find something to watch
-
Business2 days agoLogin and Checkout Issues Spark Merchant Frustration
-
Tech6 days agoElon Musk’s last co-founder reportedly leaves xAI
-
Tech4 days agoHow to back up your iPhone & iPad to your Mac before something goes wrong
-
Politics4 days agoShould Trump Be Scared Strait?
-
Crypto World4 days agoU.S. rule change may open trillions in 401(k) funds to crypto
-
Fashion5 days agoThe Best Spring Trends of 2026
-
Tech5 days agoApple will hide your email address from apps and websites, but not cops
-
Tech4 days agoFlipsnack and the shift toward motion-first business content with living visuals

You must be logged in to post a comment Login