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Andy Burnham plans crackdown on new betting and vape shops

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PM scrapping Blair-era planning rule and requiring planning permission for e-cigarette outlets on the high street

UK Prime Minister Andy Burnham speaks during a TV interview at The Hub cafe following a visit on August 11, 2026 in Ilkeston, Derbyshire.

UK Prime Minister Andy Burnham speaks during a TV interview at The Hub cafe following a visit on August 11, 2026 in Ilkeston, Derbyshire(Image: Getty Images)

Andy Burnham has vowed to grant councils greater powers to block new bookmakers and vape shops in a bid to revive Britain’s “hollowed-out high streets”.

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The Prime Minister intends to abolish the so-called “aim to permit” rule, which restricts the ability of local authorities to prevent betting shops and 24-hour slot machine venues from opening in their area.

Planning permission will also be required for outlets selling e-cigarettes, as part of wider efforts to give communities a stronger voice under the proposed changes.

The formal definition of a vape shop will be tightened to prevent businesses circumventing the new rules by claiming to be a “convenience store or a retailer”, officials confirmed.

Adult gaming centres offering up to 24 hours of access to slot and fruit machines will likewise require planning permission under the shake-up, which is expected to come into force at the start of next year.

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Under proposals first announced by Sir Keir Starmer’s government, police will also be empowered to shut down “dodgy” barbers, vape shops and nail salons for up to a year.

The maximum duration of so-called “closure orders” will be extended from six months to 12, affording officers more time to investigate premises linked to organised crime.

Officials added that the Government would also establish clearer expectations for the design of high-street shop fronts, with the aim of improving their appearance and heading off complaints about “garish neon signs” and “oversized logos.”

Working alongside local authorities, the Government will publish “practical guidance” for councils on how to make town centres more appealing, officials confirmed.

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The “aim to permit” policy was introduced when Sir Tony Blair’s Labour government, in which Mr Burnham served as a minister, liberalised gambling legislation in 2005.

The Prime Minister, having taken a holiday just over a fortnight into his tenure, is set to spend much of the remainder of August travelling across the country consulting people on how the Government can better their lives.

Officials have indicated he will be in “listening mode”, with a particular focus on rejuvenating high streets and addressing the cost of living.

However, he faces mounting pressure over his management of the prisoner-release row, as two of Pc Andrew Harper’s killers are still to be freed early despite Mr Burnham’s review of the proposals.

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Mr Burnham said Tuesday’s announcement would help put local communities “back in control”, enabling councils to curb the proliferation of unwanted shops and breathe new life into town centres.

He said: “For many people, the high streets they grew up with have been hollowed out and become unrecognisable over decades of decline.

“The rise of vape shops, betting shops and rogue operators have replaced the shops, services, and community spaces that people are crying out for.

“That’s not on. I said we would improve Britain’s high streets, and that’s exactly what we are starting to do.”

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He added: “High streets are the beating heart of local communities, but for too long Westminster has stood by while they have been in decline. This Government is committed to restoring our high streets and bringing back hope across Britain.”

The Centre for Social Justice think tank, which has conducted analysis revealing that Britain has lost nearly 1,800 pubs and bars while vape and tobacco shops have grown in number to almost 2,200 since 2016, welcomed the proposals.

Joshua Nicholson, head of housing and communities at the think tank, said: “The Government is right to give councils new powers to say no to these dodgy shops. High street renewal is vital to restoring security within our communities.”

However, the Betting and Gaming Council challenged any suggestion that betting shops were proliferating unchecked, insisting the real threat to high streets was “more empty units and fewer local jobs, not businesses rooted in the communities they serve”.

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A spokesperson for the industry body said: “We support tough action against criminal operators and agree local people should have a proper say over their high streets. But the suggestion that betting shops are spreading unchecked is simply wrong.

Andy Burnham speaking in Derbyshire today

Prime Minister Andy Burnham speaking in Derbyshire today

“Betting shop numbers have fallen by over a third since 2019. Around 3,000 shops have closed and over 15,000 jobs have already been lost.

“It is wrong to lump highly regulated, licensed betting shops together with rogue or criminal businesses. Betting shops still support 37,500 jobs, bring vital footfall to neighbouring businesses and, for many customers, are valued community hubs.”

Eamonn O’Brien, chairman of the Local Government Association, said: “It is positive that councils and communities will get a greater say on what shops and services are found on their high streets through these changes to the Use Class Order which will require vape shops to acquire planning permission.”

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He added: “Extra powers will help councils in revitalising high streets and shaping their communities, particularly in regulating betting and vaping shops, while also breathing new life in to empty premises.”

Gillian Golden, chief executive of the Independent British Vape Trade Association, said: “Rogue vape traders on the high street have been a blight on the legitimate sector, so we welcome measures such as extending closure orders on dodgy shops.

“For too long the media have conflated organised criminal networks with law abiding vape businesses, when in fact these criminals just see illicit vapes as a commodity in the same way as illicit tobacco or counterfeit goods. That has damaged the public’s understanding of our sector.

“Research has shown that if even half of England’s current adult smokers were to switch to vaping, it would save the NHS £0.5 billion. Vaping will be soon be subject to excise duty, which HM Treasury estimates will bring in £0.2 billion in its first partial financial year (2026–27) and £0.6 billion per year by 2030. Cutting out illegal trade in vapes will be key in ensuring Vaping Products Duty contributes to the UK economy rather than reinforcing an existing illicit sector.”

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Opposition critics have attributed the high street’s decline to the burden of business rates and called on Labour to introduce more ambitious reforms.

Shadow communities secretary Sir James Cleverly said: “Everyone can see what has happened to our high streets, with once-treasured shops being replaced by a smattering of rogue operators, many of which have links to organised crime and fraud.

“Labour’s business rates hikes have hollowed out our high streets, driving out the shops people want and leaving empty units for whoever is left standing to fill.

“Conservatives would cut business rates for high street firms and back the small businesses that give a town centre its character.

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“Unless the Government takes steps to support the high streets and hard-working businesses, Labour’s increases in planning regulation will just mean more empty and boarded-up shops.”

Reform UK Treasury spokesman Robert Jenrick stated: “Until this Government scraps the jobs tax, addresses sky-high business rates and provides real, fundamental support for high street businesses, this policy will only create even more empty shops on our high streets.

“Preventing businesses from opening only works if the Government and local councils make it attractive for the right kind of shops to open in their place.

“Labour is doing the opposite by making life harder for small, legitimate businesses to operate on our high streets.”

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Liberal Democrat home affairs spokesperson Max Wilkinson remarked: “Unless he beefs up powers to properly crack down on vape shops and dodgy operators, Burnham’s plans could go up in a puff of smoke.

“Our high streets are in crisis, so rolling the dice and keeping his fingers crossed these minor changes are enough simply won’t win the hand.

“He should scrap the failed business rates system and urgently give sweeping new powers to councils so high streets can prosper and trading standards officers can permanently shut repeat offenders.”

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Jensen Huang’s plan faces China risk

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Jensen Huang’s plan faces China risk

Nvidia CEO Jensen Huang speaks to members of media outside a restaurant in the Hongdae district of Seoul, South Korea, June 5, 2026.

SeongJoon Cho | Bloomberg | Getty Images

Jensen Huang built the world’s most valuable company by pioneering the specialized computer chips behind the artificial intelligence boom.

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To keep his vision for the future within reach, the Nvidia founder is now attempting a different kind of engineering: convincing Wall Street investors that those chips are long-term financial assets akin to commercial real estate or toll roads.

His bet hinges on outpacing AI developments in China.

This week, Nvidia unveiled agreements with six of the world’s largest asset managers, BlackRock, Blackstone, Apollo, KKR, Brookfield and Goldman Sachs. The goal was to assemble a $500 billion pipeline to finance the construction of data centers and GPU clusters for companies that lack the credit rating or cash to buy millions of dollars of silicon outright.

Key to his plan, which Huang announced during a CNBC segment flanked by the leaders of all six Wall Street firms, is one crucial assumption: that Nvidia’s graphics processing units will hold their value over time, behaving more like traditional hard assets than fast-depreciating consumer electronics.

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“Nvidia’s AI factory platform is really an investable asset, an infrastructure asset,” Huang said. “The reason for that is because it’s productive, it’s revenue generating, it is fungible, it’s used by just about every cloud service provider, it runs every AI model.”

In standard asset-backed finance, a bank lends money because if a borrower defaults, the bank can repossess the asset — like a building, a warehouse or a cargo ship — and sell it to get their money back. Those physical assets have established secondary markets and can last decades.

But the productive lifespan of cutting-edge GPUs is far from settled.

While new chips power frontier model training, after a few years they are relegated to lower-margin inference work — a shift that directly impacts their resale and collateral value.

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“Depreciation is the one key risk here,” said Ben Emons, founder of FedWatch Advisors, who structured similar asset-backed loans for IndyMac before joining Pimco as a portfolio manager. Nvidia chips “could depreciate faster than expected,” he said.

High-yield rates?

In particular, Emons said he believes the single biggest threat to Nvidia’s financing model comes from China, which is rapidly ramping up domestic compute capacity and could choose to flood the market with low-cost silicon in a price war.

If Chinese production pushes hardware prices into a freefall, the collateral backing hundreds of billions in private loans could erode far faster than the terms of the debt itself, leaving investors exposed to losses, according to Emons.

To compensate at least partly for that risk, Emons estimates investors will treat GPUs as high-depreciation equipment rather than real estate, demanding high-yield returns in the 11% to 17% range depending on where they sit in the capital structure.

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On top of that, the borrowers are likely to be non-investment grade firms locked out of traditional debt markets, including AI startups and neoclouds, according to a Bank of America Securities note.

If those higher-risk borrowers go under, Wall Street fund managers will be forced to repossess and resell used chips into a potentially falling market.

Whatever risks China poses wouldn’t be realized anytime soon. Huawei, the dominant provider of Chinese AI chips, has been on the U.S. Commerce Department’s Entity List since 2019. And in May, the U.S. government said Huawei’s Ascend AI chips violate U.S. export controls, preventing any American company from using the chips.

In the meantime, Nvidia remains by far the leading supplier of AI chips in the U.S., with upwards of 75% market share by most estimates.

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And for now, the economics are still moving in Huang’s favor. Driven by scarcity as hyperscalers race to build out capacity, rental rates for Nvidia’s H100 chips rose from roughly $1.70 per GPU-hour in late 2025 to about $2.35 per GPU-hour this year, Huang noted.

Crucially, Nvidia argues its CUDA software layer — which enables developers to run AI workloads on its GPUs — continuously improves hardware performance after deployment, allowing older chips to stay productive and generate yield longer than traditional accounting models predict.

The future of the AI buildout, and hundreds of billions of dollars in investor money, may depend on who is right.

— CNBC’s Ari Levy contributed to this report.

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The Morning Download: Meta Shares Glimmer of Always-On AI Future | The Morning Download for Aug. 10

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The Morning Download: Meta Shares Glimmer of Always-On AI Future | The Morning Download for Aug. 10
Steven Rosenbush

Good morning. The most interesting thing about Meta’s new Muse Glimmer model, from the enterprise point of view, is its focus on always-on AI agents. As the company emphasizes in its announcement, “Muse Glimmer is…optimized for always-on local agent workflows.”

That’s going to matter a lot in the next few years, with implications for the ways in which companies work, as I wrote in an April 2025 column called “AI Is Enabling an Always-On Economy. Companies Need to Pick Up the Pace.”

Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

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(VIDEO) More Than 90,000 Rubber Ducks Flood Chicago River In Record-Setting Special Olympics Fundraiser

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More Than 90,000 Rubber Ducks Flood Chicago River In Record-Setting

CHICAGO — A deluge of more than 90,000 rubber ducks poured out of a truck and into the Chicago River on Thursday, bobbing along a stretch of the skyscraper-lined waterway in the annual Chicago Ducky Derby, a fundraiser that this year set a new record for money raised on behalf of Special Olympics Illinois.

The truck dumped the ducks from one side of a half-raised bridge near Columbus Drive, sending a wave of yellow across the river. After forming a dense pool on the water, the ducks floated for roughly 15 minutes before organizers plucked a winner and runner-up from among the flotilla.

Organizers said 91,517 ducks were ultimately adopted this year, exceeding the event’s target of 90,000 and helping push total fundraising to a record $700,000 for Special Olympics Illinois, according to figures released by CBS Chicago following the event. That total builds on nearly two decades of fundraising since the Ducky Derby began in 2005, with the event having now raised roughly $5.6 million cumulatively for the organization over that span.

The annual event draws thousands of participants both to the riverfront viewing areas and to an accompanying festival held beforehand at Pioneer Court, along North Michigan Avenue. At the festival, attendees snapped photos with oversized inflatable ducks, doodled responses on a chalkboard prompting them to finish the sentence “I adopt a duck because…,” and mingled while wearing rubber duck-printed apparel. Duck adoptions started at $10 apiece, giving the public an accessible way to participate in the fundraiser regardless of budget.

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Special Olympics Illinois named Becky Cavanagh, of Clarendon Hills, as this year’s Ducky Derby ambassador. Cavanagh, a 13-year Special Olympics athlete, held up the winning duck to cheers from crowds packed along both sides of the river once it was retrieved from the water. Asked what she enjoyed most about her involvement with Special Olympics, Cavanagh said her favorite part was “making new friends.” When asked before the race how she felt about the prospect of picking the winning duck, she responded simply with an enthusiastic “Woo!”

Special Olympics Illinois organizes athletic competitions across the state for people with intellectual and developmental disabilities, offering programming that is free of charge to all participating athletes. Donations tied to the Ducky Derby directly fund specific components of that programming: a $10 contribution to sponsor a single “lone duck” covers a lunch for an athlete during a competition, while $30 buys a “quack pack” of six ducks, enough to help supply a full team with gold medals. Some participants also purchased larger packages, including a “ducky dozen” of a dozen ducks, to further boost their contribution.

This year’s winning duck earned its sponsor a brand-new Chevrolet Trax, donated by Chevrolet dealers across the Chicago and Northwest Indiana region, while the runner-up’s sponsor took home a $2,500 cash prize. Pete Beale-DelVecchio, president of Special Olympics Illinois, said ahead of the race that the derby has become a meaningful annual tradition for the organization and the athletes it serves. “It really is a fantastic day for our athletes,” Beale-DelVecchio said, speaking near the riverside staging area where derby attendees mingled with inflatable ducks and danced along to a live DJ set before the ducks were released.

Thursday’s turnout marked a significant jump from the prior year’s event, when roughly 75,000 rubber ducks were released into the river, itself described at the time as the largest Ducky Derby release in the event’s history. That 2025 edition raised more than $330,000 for Special Olympics Illinois, according to figures reported following that event, meaning this year’s total represents more than double the prior year’s fundraising haul. Kyle Tuckey, who served as the Ducky Derby ambassador during the 2025 event, had described his own involvement with Special Olympics in similarly personal terms at the time, calling the experience “life changing” and crediting the organization with shaping who he had become.

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The Ducky Derby has grown steadily since its 2005 debut, evolving from a modest charity race into one of Chicago’s most recognizable annual philanthropic events, drawing sponsorship support from local businesses including Jewel-Osco in past years. The event’s format, in which sponsors “adopt” individually numbered rubber ducks that are then released en masse to race downriver toward a finish line, has become a model replicated in similar duck-race fundraisers held in cities across the country, though Chicago’s version has grown into one of the largest of its kind by both duck count and total funds raised.

Beyond the immediate spectacle of tens of thousands of rubber ducks racing down one of Chicago’s most iconic waterways, organizers say the event’s core purpose remains focused on the athletes it supports, funding programming that allows Special Olympics Illinois to continue offering free competitions and training opportunities to athletes with disabilities across the state. With this year’s event setting a new fundraising record, organizers indicated they hope to continue building on that momentum in future years as the Ducky Derby approaches its third decade as a fixture of Chicago’s summer charity calendar.

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GrowGeneration earnings beat by $0.01, revenue topped estimates

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GrowGeneration earnings beat by $0.01, revenue topped estimates

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US stocks: US market ends down as Iran peace deal optimism fades

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US stocks: US market ends down as Iran peace deal optimism fades
Wall Street ended lower on Tuesday, with Amazon and Alphabet dipping, as investors became more pessimistic about a potential deal to bring stability to the Middle East. The Strait of Hormuz will remain closed as long as the U.S. does not change its behavior and accept Iran‘s conditions ‌to end the war, ⁠the ⁠newly appointed secretary of Iran’s Supreme National Security Council said.

Brent crude futures held near one-week highs in choppy trading, while the ​S&P 500 energy sector index climbed.

“As has been the case for months, it’s just really hard to come to ​an agreement that works for everyone. Oil is a little higher, pricing in more uncertainty around that,” said Ross Mayfield, investment strategy analyst at Baird in Louisville, Kentucky.

“The market has obviously gyrated around this ​conflict at times, but it hasn’t been the big headwind that ⁠a lot ‌of people imagined it might be.”

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Amazon and Alphabet each fell and weighed on the S&P 500 and Nasdaq, while SpaceX also dipped. Alternative asset managers rose, with Apollo ⁠Global and Blackstone both rallying. They were among financial institutions that recently partnered with Nvidia to establish compute-financing platforms aimed at mobilizing more than $500 billion.


According to ​preliminary data, the S&P 500 lost 25.32 points, or 0.33%, to end at 7,727.79 points, while the Nasdaq Composite lost 160.36 points, or 0.60%, to 26,445.00. The Dow Jones Industrial Average fell 188.41 points, or 0.35%, to 53,787.57.
Strong quarterly earnings helped lift the S&P 500 to all-time highs last week, while the Nasdaq was down about 2% from its record high close on June 2.Signs that ‌heavy investments by Microsoft and Amazon in AI data centers are paying off have also lifted sentiment.

Consumer and producer price inflation readings, due over the next two ​days, will be ​crucial in shaping market ⁠expectations on the Federal Reserve’s policy path, given Chair Kevin Warsh’s goal of reducing guidance on monetary policy.

Traders are split over the likelihood of an interest rate hike at the central bank’s September meeting, ​according to the CME FedWatch tool.

Rising energy costs, stemming from the Iran conflict, have spurred inflation concerns and complicated the paths of central banks globally.

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Jabil climbed after UBS upgraded the electronics firm’s stock to “buy” from “neutral.” U.S.-listed shares of On tumbled after the sportswear brand missed sales estimates. LNG company Venture Global fell after its second-quarter revenue slightly missed estimates.

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GM makes $4.5 billion parts deal to bolster supply chain

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GM lays off 500-600 salaried IT workers to cut costs

The General Motors global headquarters in Detroit, Jan. 12, 2026.

Jeff Kowalsky | Bloomberg | Getty Images

DETROIT — General Motors has reached a unique, multibillion-dollar parts deal as it aims to preserve cash and prevent supply chain disruptions like ones that have hit the global automotive industry this decade.

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In a public filing Tuesday, GM said the up to $4.5 billion purchasing agreement includes a company called Procura Auto Parts that specializes in sourcing rare or critical parts. It will receive funding through a bank syndicate led by JPMorgan Chase and Banco Santander to prepay select suppliers on behalf of GM.

In return, GM will issue formal promises, or IPUs, to pay back the company after it uses the parts in production, no later than July 31, 2029. The deal allows GM to keep inventory costs off its books, while better securing future parts.

GM pays interest, plus an agreed upon premium on what’s used, as well a customary annual fee on the unused portion during that year, according to the filing. For accounting purposes, the prepayments show up as an asset and each purchase is booked as unsecured debt, and the cash flows are shown as if GM paid suppliers directly, the filing said.

These payments are excluded from adjusted automotive free cash flow until GM actually buys the inventory. The company typically books the capital within 90 days of purchase.

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GM declined to disclose what parts the company may be targeting. Problematic parts for the automotive industry have included semiconductor chips, including dynamic random access memory, rare earths and wire harnesses.

The deal follows years of global automotive supply chain issues and comes after GM and other automakers reevaluated their sourcing or parts following U.S. tariffs and a push to move away from Chinese companies.

GM established the deal with Procura and the banks on Friday, according to the filing.

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Tripadvisor: Viator Keeps The Investment Case Alive (NASDAQ:TRIP)

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Tripadvisor: Viator Keeps The Investment Case Alive (NASDAQ:TRIP)

This article was written by

I’m a lifelong entrepreneur who, alongside my other ventures, has always made time for the markets. Driven by genuine passion, I’ve been active with varying intensity for roughly 30 years, gaining perspective across multiple market cycles. I’ve built a company from scratch and operated as an entrepreneur in the food industry, lodging, and real estate, which has given me a strong, ground‑level understanding of how businesses really work. Because of that background, I always see the company behind the stock, and I like to keep the narrative and the numbers connected.The first twenty years of my market experience ran in parallel with other ventures — at times more like a hobby — but the last decade has been fully focused on the markets. Having gone through the 2000s dot‑com bubble and the 2008 subprime crisis with real skin in the game, I see both as extremely valuable lessons. I genuinely believe you learn far more from painful mistakes than from easy wins.In recent years I’ve experimented with different trading strategies, mostly built around options. I’ve won big and lost big, and in the process gained a much‑needed understanding of what prudent risk management really means — and how painful it is when it’s not implemented well. Even when I take more risk on the trading side, I keep my long‑term buy‑and‑hold positions completely separate from trading assets.My academic background is in Economics, and I’ve recently refreshed that foundation through a course aligned with the CFA curriculum, focused on securities valuation and risk management. I’m a believer in lifelong learning — it keeps you connected to new theories and how they’re applied. At the same time, I take Jesse Livermore’s century‑old, simple market truths as a core part of how I interpret everyday market behavior. I find real value in combining academic structure with Livermore‑style simple rules to gain a better understanding of the bigger picture.My passion is finding mispriced assets or situations the market may be overlooking or misinterpreting. With a deep interest in history and geopolitics, I tend to look at situations from a broader perspective. And when making investment bets, I like to keep in mind the old Gretzky quote: “I skate to where the puck is going to be, not where it has been.”

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Intel to Sell $15 Billion of Common Stock

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Alphabet Is Selling 100-Year Debt as Part of a Big Bond Sale

Intel to Sell $15 Billion of Common Stock

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Why JPMorgan Raised Its S&P 500 Target Despite Looming September Risks

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Why JPMorgan Raised Its S&P 500 Target Despite Looming September Risks

Why JPMorgan Raised Its S&P 500 Target Despite Looming September Risks

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SINTX projects Q3 revenue of $900,000 to $1.1 million

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SINTX projects Q3 revenue of $900,000 to $1.1 million

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