Business
Survival Over Hype: The hidden trait that builds long-term wealth
The Illusion of Strength in Easy Money Cycles
Over the past decade, abundant liquidity and low interest rates allowed even mediocre businesses to thrive. However, as global central banks—from the Federal Reserve to emerging market policymakers—tighten or recalibrate policy, the market is increasingly distinguishing between real compounders and fragile performers.
In such an environment, earnings growth alone is no longer a reliable indicator. Companies that once looked strong due to favorable liquidity conditions are now being stress-tested.
The “Capacity to Suffer”: A Rare Corporate Trait
Thomas Russo’s framework which he presented at Talks@Google revolves around identifying businesses that can endure short-term pain to build long-term value. According to him, true survivors are those willing to sacrifice immediate profitability in order to invest in future growth.
This often manifests in:
Heavy reinvestment into brands, distribution, or new markets
Acceptance of lower margins in the near term
Strategic decisions that may temporarily hurt stock prices
Such companies are not chasing quarterly expectations—they are building multi-decade compounding engines.
Why Markets Punish the Right Behavior
Ironically, the very traits that define long-term winners often lead to short-term underperformance. Markets, especially in uncertain times, tend to reward visibility and punish ambiguity.
Russo highlights that expanding businesses require capital and patience, and these investments may not yield immediate returns, which can weigh on stock prices.
In today’s environment—where investors are hypersensitive to interest rates, liquidity shifts, and geopolitical risks—this disconnect becomes even sharper.
The Investor’s Mirror: Can You “Suffer” Too?
Russo’s philosophy extends beyond companies to investors themselves. The ability to hold onto quality businesses during periods of underperformance is crucial.
This “capacity to suffer” includes:
Resisting the urge to chase momentum
Ignoring short-term noise and market euphoria
Staying committed when others appear to be making easy gains
As he points out, watching others profit quickly can itself feel like a form of suffering—but it is temporary.
Reinvestment: The Engine of True Compounding
A key marker of resilient businesses is their ability to reinvest earnings at high rates of return. Companies that can deploy capital effectively—not just generate it—create exponential value over time.
This aligns with a broader value-investing principle: the best businesses are those that can continuously reinvest and expand their economic moat, rather than simply distribute profits.
Applying Russo’s Lens to Today’s Market
In the current global setup:
Technology companies face disruption from AI and changing demand cycles
Banks and financials are navigating rate volatility and credit risks
Consumer businesses are dealing with inflation-driven demand shifts
Amid this uncertainty, the winners will likely be those that:
Continue investing despite macro headwinds
Maintain pricing power and brand strength
Think in decades, not quarters
Conclusion: Survival Is a Strategic Choice
Market downturns and global uncertainties do not just test balance sheets—they test philosophy. As liquidity tightens and easy gains disappear, the market is returning to its fundamental nature: rewarding patience, discipline, and long-term thinking.
The real survivors are not the fastest growers in good times, but the most resilient builders in bad times.
For investors, the message is clear: identifying such businesses is only half the battle—the other half is having the conviction to endure the journey alongside them.
Business
Indonesia establishes regional smoke monitoring hub to combat transboundary air pollution within Southeast Asia
Indonesia inaugurated the ASEAN Coordinating Centre for Transboundary Haze Pollution Control Secretariat in Jakarta, strengthening regional cooperation to combat cross-border haze from forest fires. The centre will provide real-time monitoring, technical coordination, and early warning systems, shifting ASEAN toward proactive haze management across Southeast Asia.
Key Points
• Indonesia has inaugurated the ASEAN Coordinating Centre for Transboundary Haze Pollution Control (ACC THPC) Secretariat in Jakarta, aimed at combating cross-border haze from forest fires disrupting public health, aviation, and economies across Southeast Asia.
• The centre will serve as a regional command hub for real-time fire monitoring, technical coordination, early warning systems, and cross-border firefighting efforts, shifting ASEAN’s approach from reactive to proactive haze management.
• By hosting the secretariat, Indonesia reaffirms its commitment to regional environmental governance, strengthening collaboration with ASEAN partners and national agencies to achieve a long-sought haze-free Southeast Asia.
Indonesia Launches ASEAN Haze Pollution Control Secretariat
A landmark step toward regional environmental governance
Indonesia has inaugurated the Secretariat Office of the ASEAN Coordinating Centre for Transboundary Haze Pollution Control (ACC THPC), marking a significant milestone in Southeast Asia’s efforts to combat cross-border haze pollution. Led by Minister of Environment Hanif Faisol Nurofiq, the inauguration took place in East Jakarta on April 22, 2026. The initiative operates under the ASEAN Agreement on Transboundary Haze Pollution, a legally binding framework committing member states to coordinated prevention and mitigation efforts.
Addressing an urgent and recurring regional crisis
Transboundary haze, driven by forest and land fires, has long disrupted public health, aviation, and economic activity across the region. Authorities have flagged heightened fire risks this year due to an intensified El Niño cycle. The secretariat is designed to serve as a regional command hub, enabling real-time information sharing, cross-border firefighting coordination, and emergency assistance mobilization during major fire incidents.
Core Functions and Operational Mandate of the ACC THPC
From reactive management to proactive risk mitigation
The ACC THPC is mandated to deliver three essential functions: real-time monitoring of fire hotspots and air quality, technical coordination of expertise and firefighting capabilities, and the strengthening of early warning systems during peak dry seasons. Together, these capabilities represent a strategic shift from crisis response toward preventive risk management, equipping ASEAN with the tools needed to anticipate and contain haze events before they escalate.
Building integrated cross-border cooperation
The secretariat’s establishment in Jakarta is expected to deepen collaboration between Indonesian agencies, including the National Disaster Management Agency, the Ministry of Environment, and the Ministry of Forestry, and their ASEAN counterparts. This institutional alignment is considered essential for ensuring that fire prevention and suppression efforts remain coordinated across borders, particularly in multi-jurisdictional haze-affected zones.
Indonesia’s Leadership Role in Regional Environmental Governance
Reaffirming national commitment to haze reduction
Indonesia has reiterated its dedication to tackling forest and land fires through stronger prevention measures, faster response mechanisms, stricter law enforcement, and ecosystem restoration. By hosting the ACC THPC secretariat, Jakarta is positioning itself as the primary coordination hub for haze control in Southeast Asia, signaling a clear intent to assume a more central role in shaping regional environmental policy.
A renewed ASEAN consensus on institutionalized cooperation
Broad regional support for the centre reflects a growing ASEAN consensus on the need for more structured, operationally focused collaboration. Minister Hanif emphasized that the centre will enable faster data exchange and more coordinated resource deployment during emergencies. While a haze-free Southeast Asia has remained an elusive goal despite decades of efforts, this initiative offers renewed momentum through a more effective and institutionalized regional framework.
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Business
Kenyan Star’s Epic Rise to Sub-2 Marathon Glory
LONDON — Sabastian Kimaru Sawe, the quiet Kenyan who just rewrote marathon history with a stunning 1:59:30 victory at the 2026 TCS London Marathon, has emerged as one of the most compelling figures in distance running.

The 31-year-old became the first athlete to break the two-hour barrier in an official, competition-eligible marathon, capping a meteoric rise from rural Kenyan roads to global dominance. Here are 10 essential things to know about the man they call the “silent assassin.”
1. Humble Beginnings in Kenya’s Rift Valley
Born on March 16, 1995 (some records list 1996), in Barsombe, Uasin Gishu County, Sawe grew up in the heart of Kenya’s famed running country. Like many elite athletes, he developed his endurance chasing cattle and running to school on dirt paths. His early life emphasized simplicity, hard work and a family mantra of resilience passed down from his grandmother, often referenced as “Koko” — “all will be well.”
2. Track Prodigy Turned Road King
Sawe first gained attention on the track and in cross country. He finished seventh in the senior men’s race at the 2023 World Cross Country Championships in Bathurst. His track personal bests include a 27:09.46 in the 10,000 meters. He also set a Kenyan national record in the one-hour run with 21,250 meters in Brussels in 2022, showcasing extraordinary aerobic capacity.
3. Half-Marathon Dominance
Before conquering the full marathon, Sawe excelled at the half. He claimed gold at the 2023 World Road Running Championships in Riga with a strong performance. His personal best stands at 58:05 from Copenhagen in 2024. He has won seven of nine career half marathons, establishing himself as a world-class short-distance road runner.
4. Blistering Marathon Debut
Sawe made his marathon debut at the 2024 Valencia Marathon, clocking 2:02:05 — the second-fastest debut in history, just 12 seconds behind the late Kelvin Kiptum’s mark on the same course. The performance immediately thrust him into the elite conversation and made him the fifth-fastest marathoner of all time at that point.
5. Back-to-Back Major Victories
In 2025, Sawe won the London Marathon in 2:02:27, his first Abbott World Marathon Major title, surging dramatically after 30K to drop a star-studded field. Later that year, he triumphed at the Berlin Marathon in 2:02:16 despite hot conditions, running alone for much of the race and posting the ninth-fastest time ever. He remains undefeated in his first four marathons.
6. Historic Sub-2 Breakthrough in 2026
Defending his London title on April 26, 2026, Sawe delivered the unthinkable: 1:59:30, shattering the previous world record and becoming the first to go under two hours in a ratified race. Yomif Kejelcha finished second in 1:59:41 and Jacob Kiplimo third in 2:00:28 in one of the deepest fields ever assembled.
7. Coaching Partnership with Italian Mentor
Sawe trains under Italian coach Claudio Berardelli, who spotted his potential early. Berardelli has described him as exceptionally talented, noting his fearlessness and work ethic. Training includes grueling 40K long runs and weekly volumes up to 200 kilometers, blending traditional Kenyan methods with modern science.
8. Tactical Genius and Mental Toughness
Known for bold moves, Sawe skipped water stations and unleashed devastating surges in London. His negative splits and ability to run solo demonstrate exceptional pacing judgment and mental fortitude. Rivals and analysts praise his calm demeanor — the “silent assassin” who lets his legs do the talking.
9. Injury Resilience and Comeback Story
Sawe has overcome challenges, including a stress fracture and back issues ahead of the 2026 London race. His ability to recover fully and deliver a world-record performance underscores his professionalism and support system, including physiotherapy and careful load management.
10. Legacy and Future Ambitions
With a perfect marathon record and the sub-2 barrier broken, Sawe is poised to dominate the Abbott World Marathon Majors and chase further records. His success highlights advancements in training, nutrition and super shoes while honoring Kenya’s rich distance-running heritage. At just 31 and in only his fifth marathon, more history seems likely.
Sawe’s journey embodies the blend of raw talent, disciplined preparation and cultural resilience that defines Kenyan running. From the red dirt roads of Uasin Gishu to the finish line on The Mall, he has stayed true to his roots while pushing the sport’s boundaries.
His 2026 London triumph wasn’t just about one day — it was the culmination of years of invisible miles, family support and an unwavering belief that barriers exist to be broken. As the marathon world digests his achievement, Sawe remains focused, humble and driven for more.
In post-race comments, the champion reflected on the moment: the perfect pacing, the roaring crowds and the dream realized. For fans of the sport, Sabastian Sawe represents the new standard — proof that human limits continue to expand on the roads of London, Berlin, Valencia and beyond.
His story resonates far beyond athletics. In a world seeking inspiration, the silent assassin from Kenya has spoken volumes with his feet, etching his name alongside legends like Eliud Kipchoge and Kelvin Kiptum while carving his own extraordinary path.
As Sawe looks ahead, the running community eagerly anticipates his next chapter. Whether defending titles, pursuing faster times or inspiring the next generation in Kenya, one thing is certain: the man who ran under two hours has only just begun. (Word count: 1,028)
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3 Of My Favorite Dividend Growth Stocks Trading Way Below Fair Value
Leo Nelissen is a macro-focused equity strategist and long-term investor with more than a decade of experience on Seeking Alpha, where he has built a following of over 50,000 readers. His work combines big-picture macro analysis, geopolitical insight, and bottom-up research to identify high-quality businesses and long-term investment opportunities. He is the founder of Main Street Alpha, a Seeking Alpha Investing Group focused on macro strategy, real portfolios, dividend investing, and disciplined capital allocation for long-term investors.
Analyst’s Disclosure: I/we have a beneficial long position in the shares of REXR, RTX, GE either through stock ownership, options, or other derivatives. 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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