• Latest Trump hush-money battle: how to instruct jurors about the coverup of a coverup and crimes within crimes

    Multiples of Donald Trump on a Off white background
    • Testimony concluded Tuesday in the Trump hush-money trial in Manhattan.
    • The parties then argued over how the judge will instruct the jury on the law.
    • "Less is better," the judge has said. Still, the jury charge will be long and complex.

    Lawyers in the Donald Trump hush-money trial spent Tuesday afternoon in a spirited battle over this question: what will the judge tell jurors right before they begin their deliberations next week?

    The prosecution and defense fought for three hours over this, the so-called "jury charge," splitting hairs over what language New York Supreme Court Justice Juan Merchan will use to instruct the seven-man, five-woman jury on the law.

    The level of skill and fervor in these arguments was no surprise.

    The jury charge is so important, so sacrosanct, that Merchan will order the doors to his courtroom sealed for its duration, with no one in the well or audience allowed to enter or leave.

    He will then tell jurors something like this:

    "Under our law, a person is guilty of falsifying business records in the first degree when, with intent to defraud that includes an intent to commit another crime or to aid or conceal the commission thereof, that person makes or causes a false entry in the business records of an enterprise."

    The standard jury charge for falsifying business records in the first degree.

    These are the opening paragraphs to the New York state court system's jury-charge guidelines for falsifying business records in the first degree.

    It's the basic starting template for any New York judge who needs to charge a jury on what's known in legal shorthand as first-degree falsifying.

    Trump has been charged with 34 counts of this one felony. That's the entirety of his indictment. There's one count for each of 34 invoices, checks, and Trump Organization ledger entries — all of the records that Trump allegedly "caused" to be falsified throughout 2017, his first year in office.

    Prosecutors for Manhattan District Attorney Alvin Bragg allege that each falsified invoice, check, and ledger entry counts as a felony because it concealed an underlying crime. (They say the underlying crime is a state election law violation — more about that in a bit.)

    How were they allegedly falsified?

    Bragg says each of the 34 records disguised the true nature of a year's worth of payments to Trump "fixer"-turned-foe Michael Cohen by making the payments look like monthly legal retainer fees.

    In reality, Bragg alleges, Trump wasn't paying Cohen a monthly retainer at all — he was instead concealing an illegal conspiracy to influence the 2016 election.

    Rather than compensating Cohen for legal work — Cohen testified he only did a few hours of work for Trump in all of 2017 — the payments secretly reimbursed Cohen in monthly installments for a campaign-law-violating $130,000 hush-money payment to porn star Stormy Daniels, prosecutors allege.

    michael cohen donald trump stormy daniels
    Donald Trump, flanked by his former lawyer, Michael Cohen, and Stormy Daniels.

    How do they decide?

    OK it's a little tricky.

    Let's say business records were indeed falsified to hide hush money. That's the coverup of a coverup. And let's say that the hush-money payment — which silenced Daniels just 11 days before the 2016 election — was itself illegal. That's a crime within a crime.

    Still, it's not terribly tricky, right?

    Trump faces 34 counts of only a single charge, first-degree falsifying, for which the standard charging language barely fills two pages.

    And for each count, the jury must consider just two things: whether Trump caused the record to be falsified, and whether he did so to hide his intent to commit "another crime."

    If prosecutors meet their burden to prove both tiers — falsification and intent to conceal another crime — beyond a reasonable doubt, then Trump is guilty. If they don't, then Trump is not guilty.

    Prosecutors don't even have to prove that "another crime" was actually committed. They just have to prove that Trump intended to commit another crime and then falsified records to hide his tracks.

    The jury charge for this single felony should be easy, right? Clear-cut and beyond dispute?

    Wrong.

    Yes, first-degree falsifying is the only law in Trump's indictment.

    But it's not the only law jurors must understand and weigh when they begin deliberations as early as Wednesday.

    Prosecutors allege that Trump falsified the hush-money reimbursements in order to conceal his intent to commit an obscure New York election-conspiracy law.

    This is what they mean by Trump's "intent to commit another crime." Under the prosecution theory, this "another crime" is election law section 17-152, which it makes it a misdemeanor to conspire to influence an election "by unlawful means."

    Section 17-152 of the New York state election law.
    Manhattan prosecutors say violating this state election law makes Donald Trump a felon.

    A crime within a crime within a crime

    So you see, to win a conviction, prosecutors must demonstrate three layers of unlawfulness involving at least three separate laws.

    They're alleging Trump committed a crime (under the Federal Elections Campaign Act) within a crime (under the state election-conspiracy law) within a crime (the first-degree falsifying charge he's actually indicted on).

    It's a Russian nesting doll of wrongdoing, though only the outermost doll, first-degree falsifying, needs to be proven beyond a reasonable doubt.

    Prosecutors also plan to give jurors two alternatives to the FECA violation, that innermost of the three nesting dolls.

    These alternatives are a violation of federal, state, and/or city tax laws (alleging that Cohen's hush-money reimbursements were unlawfully disguised as taxable income) and yet another records-falsification violation (alleging that Trump was responsible for bogus hush-money paperwork at the National Enquirer.)

    That means three layers of wrongdoing under a half-dozen potentially applicable laws, all with their own wording and definitions, much of which had to be argued over on Tuesday.

    What is a "conspiracy?" What is "intent?" What is "accessorial liability?" Do those definitions differ, law to law?

    And then there were broader, more arcane questions, including this one:

    Must jurors agree unanimously on the "unlawful means" at the center of the case?

    Meaning, must all jurors find that, in causing Cohen to pay the hush money, Trump conspired to violate FECA campaign-contribution limits? Or can some jurors find that Trump conspired to violate tax law, while other jurors see the falsification of National Enquirer business records as the central offense?

    In other words, do jurors need to be unanimous in deciding which of the three options, if any, is the central unlawfulness?

    That brings us back to Tuesday's charge conference and why the sides fought for three hours as the defendant, and many in the audience struggled to stay awake.

    "This is, obviously, an extraordinarily important case," defense lawyer Emil Bove told the judge, in arguing that jurors be instructed that they must unanimously decide on an underlying wrongdoing.

    "The most critical point here is that the jury does not need to conclude unanimously what the specific unlawful means are," Matthew Colangelo, a prosecutor, argued back Tuesday, referring to "well-established New York law."

    "So I think the key point here for this instruction is to advise the jury that, yes, there has to be some unlawful means, and to alert them as to what those unlawful means are, but also advise them that they don't have to unanimously agree on each of the unlawful means," he added.

    "We think your honor has some discretion," countered Bove.

    Merchan was not swayed. 

    "I think I understand what you're saying, what you mean when you're saying it's an important case," Merchan told Trump's lawyer. "What you're asking me to do is change the law, and I'm not going to do that."

    A close-up of Donald Trump in a courtroom.
    Former President Donald Trump appears in court for opening statements in his Manhattan hush-money trial.

    Charging the jury is a tedious task

    Tuesday's debate was granular stuff.

    In general, Bove pushed for longer, more complex definitions of such terms as "contribution" and "unlawful means." This was in the apparent hope that the narrower the definitions, the less likely jurors would find that Trump's actions fell within their bounds.

    Prosecutors, meanwhile, fought to keep the charge as simple as possible.

    "As we discussed, we think the jury needs less, not more, on FECA instructions," Colangelo, the prosecutor, argued at one point Tuesday.

    "And we think the term, 'for the purpose of influencing an election' is a pretty straightforward term that jurors can understand," Colangelo added.

    In awarding the most "wins" to prosecutors, Merchan chose brevity over expansiveness.

    "Some of the issues are confusing enough, I think," the judge said Tuesday. "We want to make it as easy as possible for the jury."

    Merchan told prosecutors and Trump's lawyers that he'll give them the final draft of his instructions on Thursday.

    He told jurors to expect his charge to last "at least an hour."

    Read the original article on Business Insider
  • Dividend deals: 2 top ASX shares that still look undervalued

    A man holding a cup of coffee puts his thumb up and smiles while at laptop.

    There are few things better than being able to snap up high quality ASX shares when they are cheap.

    The good news is that there are two household names that are trading on the ASX boards at a fraction of what investors were paying 12 months ago.

    The even better news is that analysts see significant room for their shares to rise from current levels. They also expect some attractive dividend yields to sweeten the deal further.

    Let’s take a look at two ASX shares that Goldman Sachs thinks could be undervalued right now:

    Telstra Group Ltd (ASX: TLS)

    The first ASX share to look at is the nation’s largest telecommunications company, Telstra. After another selloff this week, the company’s shares are now down 21% over the last 12 months and at multi-year lows.

    While Goldman wasn’t overly impressed with Telstra’s update this week, it remains very positive on the investment opportunity here. It said:

    Overall we revise TLS FY24-26 EBITDA -1% and EPS by -1% to -3%, reflecting the revised mobile outlook and broader restructure. Our 12m TP is -7% to A$4.25, given earnings and reduction in mobile EBITDA multiple to 6.0X (was 6.5X) on increased mobile uncertainty. Buy.

    As you can see above, Goldman has put a buy rating and $4.25 price target on this ASX share. This implies potential upside of 24% for investors over the next 12 months.

    In addition, the broker is now forecasting fully franked dividends of 18 cents per share in FY 2024 and then 18.5 cents per share in FY 2025. Based on the current Telstra share price of $3.42, this will mean yields of 5.25% and 5.4%, respectively.

    That’s a total potential return of almost 30% according to Goldman.

    Woolworths Limited (ASX: WOW)

    Another ASX share that has been sold off (down 18% year on year) and could be in the buy zone now is supermarket giant Woolworths. Investors have been selling its shares due to concerns over market share losses and regulatory risks.

    Goldman isn’t fazed by either and thinks investors should be snapping up Woolworths’ shares while they are undervalued. It said:

    WOW is the largest supermarket chain in Australia with an additional presence in NZ, as well as selling general merchandise retail via Big W. We are Buy rated on the stock as we believe the business has among the highest consumer stickiness and loyalty among peers, and hence has strong ability to drive market share gains via its omni-channel advantage, as well as its ability to pass through any cost inflation to protect its margins, beyond market expectations. The stock is trading below its historical average (since 2018), and we see this as a value entry level for a high-quality and defensive stock.

    Goldman has a buy rating and $39.40 price target on its shares. This suggests potential upside of almost 26% for investors.

    In addition, the broker is forecasting fully franked dividends per share of $1.08 in FY 2024 and then $1.14 in FY 2025. Based on the current Woolworths share price of $31.33, this equates to dividend yields of 3.45% and 3.6%, respectively. Once again, this brings the total potential return to almost 30%.

    The post Dividend deals: 2 top ASX shares that still look undervalued appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes could be the ‘five best ASX stocks’ for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has positions in and has recommended Telstra Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Nvidia just keeps hitting it out of the park

    Jensen Huang
    Nvidia exceeded expectations thanks to ongoing demand for its AI chips.

    • Nvidia's Q1 revenue hit a record $26 billion, surpassing analyst estimates.
    • Nvidia also gave a bullish second-quarter sales forecast.
    • Demand for its new AI chips may exceed supply well into next year, it said.

    Tech's hottest stock isn't cooling down anytime soon.

    Nvidia released its fiscal first-quarter results on Wednesday and reported record quarterly revenues of $26 billion — outdoing analyst estimates for $24.65 billion. That's up over 260% from a year ago, showing that raging demand for its chips, which are used to power artificial intelligence technology, is still growing.

    Nvidia shared a solid forecast for the future, too, saying second-quarter revenue will be about $28 billion, also ahead of expectations.

    The news helped push Nvidia's shares up in late trading to above $1,000 for the first time. The stock has risen more than 200% in the last twelve months.

    Even as customers wait for Blackwell, Nvidia's next GPU chip, to be released later this year, sales of its H100 chip are still strong, the company said. CFO Colette Kress also told investors on a call that demand for its H200 and Blackwell chips is well ahead of supply as the company works towards global availability of the latter later this year.

    "We expect demand may exceed supply well into next year," Kress said.

    Meantime, CEO Jensen Huang said the company would see "a lot of Blackwell revenue this year."

    Nvidia also raised its quarterly dividend by 150%, from four to 10 cents per share, and announced a 10-for-1 stock split, effective next month.

    Jacob Bourne, a senior analyst at Emarketer, a sister company to Business Insider, said Nvidia defied gravity again as "AI companies globally continue to depend on its chips, networking hardware, and its software ecosystem."

    Some tech giants have recently announced plans to create their own chips to help power their AI offerings. Google is making its own Arm-based CPU processor, Axion, and Microsoft is also attempting to develop its own AI chips. However, most companies are still relying on Nvidia.

    "Tech companies' public praise of Nvidia is a telltale sign of its dominance — they want to reduce their dependence on the chipmaker but realize they're not quite there yet," Bourne said. "We can expect that more bold innovative moves from Nvidia will help it maintain its industry position for the foreseeable future."

    Read the original article on Business Insider
  • Guess which ASX 200 mining giant could crash 30%

    ASX shares downgrade A young woman with tattoos puts both thumbs down and scrunches her face with the bad news.

    New Hope Corporation Ltd (ASX: NHC) shares could be in danger of crashing deep into the red.

    That’s the view of analysts at Goldman Sachs, which are feeling very bearish about the ASX 200 mining giant.

    What is the broker saying about this ASX 200 mining giant?

    Goldman has been busy running the rule over the coal miner’s recent quarterly update.

    In case you missed it, for the three months ended 30 April, New Hope delivered a 28% quarter on quarter increase in ROM coal production to 3,665,000 tonnes. This was driven by a 23% increase in Bengalla production to 2,955,000 tonnes and a 55% jump in New Acland production to 710,000 tonnes.

    The ASX 200 mining giant also delivered the goods with its sales volumes. It reported a 21% quarter on quarter increase in coal sold to 2,358,000 tonnes. This was achieved with an average realised sales price of $179.78 per tonne, which was flat on the previous quarter.

    Goldman was relatively satisfied with the company’s update. It commented:

    NHC reported 3Q24 total saleable coal production and sales of 2.5Mt/2.4Mt, +21% QoQ (+5%/-6% vs. GSe) with the ongoing ramp-up of the Bengalla and the New Acland mines running slightly ahead of schedule. EBITDA for the April Q was A$219mn, broadly in-line with 50% of our ~A$400mn estimate for the 2H (end of July).

    NHC finished the quarter with net cash of ~A$381m (incl. leases and cash held in fixed income assets), down only slightly from ~A$400m at end of Jan, and post the payment of the A$144mn interim dividend and A$80mn further investment in Malabar Resources.

    However, it hasn’t been enough to change its bearish view on the ASX 200 mining giant.

    Goldman remains bearish

    According to the note, the broker has responded to the update by retaining its sell rating with an improved price target of $3.60 (from $3.50).

    Based on the current New Hope share price of $5.08, this implies potential downside of just under 30% for investors over the next 12 months.

    The broker named two reasons why it is bearish on this ASX 200 mining giant. One is its valuation, the other is its belief that the thermal coal market will soon soften. It explains:

    [W]e rate NHC a Sell based on: 1. Valuation & FCF: The stock is trading at ~1.35x NAV (A$3.67/sh) and discounting a long-run thermal coal price of ~US$100/t (real) vs. our US$83/t estimate (based on our view of long run global marginal costs). NHC is also trading on a NTM EBITDA multiple of ~5x vs. global coal peers on ~4.5x (median). We note that FCF yield is -3%/10% in FY24/25 on our ~US$132/113/t thermal coal price assumptions, and -2%/17% at spot thermal (both include benefits from hedging). 2. Thermal Coal market to soften further in 2024: our global commodity team forecasts a ~40Mt surplus for 2024 due to decreasing global import demand, largely driven by a weakening in China hoarding demand (-80Mt) and high inventory levels, and growing export capacity (+50Mt) from Indonesia, Australia and Russia, and we expect marginal costs to fall to US$100/t in 2024. We forecast US$130/t for 6000kcal NEWC benchmark in 2024.

    The post Guess which ASX 200 mining giant could crash 30% appeared first on The Motley Fool Australia.

    Should you invest $1,000 in New Hope Corporation Limited right now?

    Before you buy New Hope Corporation Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and New Hope Corporation Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • An ASX dividend giant I’d buy over Westpac shares right now

    A male investor sits at his desk looking at his laptop screen holding his hand to his chin pondering whether to buy Macquarie shares

    The ASX dividend giant Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) appeals to me much more than Westpac Banking Corp (ASX: WBC) shares.

    Both businesses are more than 120 years old and have provided investors with long-term dividend streams. Soul Patts has paid a dividend annually since it was listed in 1903.

    Westpac is one of the largest ASX bank shares, while Soul Patts is a diversified investment conglomerate.

    There are three key reasons why I’ve chosen the investment business for my portfolio over Westpac shares.

    Dividend growth

    Westpac currently has a higher dividend yield, with a trailing grossed-up yield of 6.6%, compared to the Soul Patts grossed-up dividend yield of 4%.

    However, in the long term, Soul Patts has been much more successful at growing its dividend.

    The last two dividends (91 cents per share) from Soul Patts are almost double what was paid in 2013 (46 cents per share).

    Westpac’s last two dividends ($1.62 per share) are 16.5% lower than what the ASX bank share paid in 2013 ($1.94 per share).

    I believe Soul Patts’ asset base gives it more scope to deliver growth over time.  

    Earnings diversification

    Westpac largely makes its profit by lending to households and businesses in Australia and New Zealand, which doesn’t offer much earnings diversification. So, Westpac shares are very reliant on the bank’s loan book.

    Soul Patts is invested in numerous industries and ASX shares, it has the flexibility to invest wherever it sees opportunities. Some of its biggest industry exposures include resources, telecommunications, building products, property, financial services, agriculture, electronics, and electrical parts. These investments generate profit and pay dividends for Soul Patts.

    Some of the biggest positions in its ASX portfolio include TPG Telecom Ltd (ASX: TPG), Brickworks Limited (ASX: BKW), New Hope Corporation Ltd (ASX: NHC), Tuas Ltd (ASX: TUA) and Macquarie Group Ltd (ASX: MQG).

    Over time, Soul Patts’ portfolio can continue to grow and generate further cash flow to fund bigger dividends.

    Dividend stability

    If I invest in a stock for passive income, I’d like to know that the dividend will likely keep flowing even in a recession. That’s likely when I would need the cash flow the most!

    Ignoring the one-off year of 2020, which was heavily impacted by the pandemic, Westpac saw its 2021 annual dividend decrease by approximately a third compared to the 2019 annual dividend. The 2023 dividend was 18% lower than 2019.

    Meanwhile, Soul Patts has grown its annual ordinary dividend every year since 2000 – it kept rising during the COVID-19 years.

    Soul Patts’ dividend isn’t guaranteed to keep growing, but it’s invested in a portfolio of primarily defensive assets, which offers security. The investment house usually retains some of its annual cash flow each year to invest in more opportunities to help grow its dividend in future years.

    The post An ASX dividend giant I’d buy over Westpac shares right now appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Washington H. Soul Pattinson And Company Limited right now?

    Before you buy Washington H. Soul Pattinson And Company Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Washington H. Soul Pattinson And Company Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor Tristan Harrison has positions in Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Brickworks, Macquarie Group, and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Brickworks, Macquarie Group, and Washington H. Soul Pattinson and Company Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Don’t get clever, just buy stability: 2 defensive ASX shares to buy now

    Sometimes it can be tempting to invest in a speculative stock promising the world.

    However, unfortunately for investors, more often than not, these type of ASX shares fail to deliver on expectations and destroy wealth instead of creating it.

    At the same time, investors keeping it simple and focusing on defensive ASX shares with stable and strong business models are slowly getting rich with limited effort.

    But which ASX shares could deliver the goods for investors in this way? Let’s take a look at a couple that are reliable and defensive.

    CSL Ltd (ASX: CSL)

    This biotechnology giant could be a quality option for investors. It has delivered market-beating returns over the past decade thanks to the strength of its business, its investment in research and development, and increasing demand for immunoglobulins.

    And thanks to a rare period of underperformance for its shares, analysts at Morgans believe now is a great time for investors to invest in CSL. They commented:

    While shares have struggled of late, we continue to view CSL as a key portfolio holding and sector pick, offering double-digit recovery in earnings growth as plasma collections increase, new products get approved and influenza vaccine uptake increases around ongoing concerns about respiratory viruses, with shares trading at 25x, a substantial discount (20%) to its long-term average.

    Morgans currently has an add rating and a $315.40 price target on the company’s shares.

    REA Group Limited (ASX: REA)

    Over at Goldman Sachs, its analysts believe that REA Group could be a high quality ASX share to buy now.

    REA Group is the leading player in Australian real estate listings through its dominant realestate.com.au website. It is thanks to this market leadership position that Goldman is so positive on its outlook. It highlights REA Group’s pricing power and opportunity in lead generation. It explains:

    We believe REA Group, a leading real estate classified business with strong market positions across Australia, Asia and the United States, has one of the best risk/reward profiles in our domestic media coverage. In particular, we are positive on the pricing power of the real estate classified vertical, given that we believe budgets will rise (at the expense of commissions), and within existing budgets, REA, as a leading player in the vertical, under-monetises its lead generation. We also see the current negative sentiment around AU property as more a driver of share prices over earnings.

    We believe REA is among the highest-quality names in our coverage, given it has the highest ability to continue to drive pricing, with: (1) significant disparity between lead share and revenue share; (2) the lowest cost relative to overall vertical transaction; (3) a profitable and still fragmented end market; and (4) the existence of Vendor Paid advertising, with strong valuation support with current trading multiples in-line with historical levels.

    Goldman has a buy rating and $202 price target on its shares.

    The post Don’t get clever, just buy stability: 2 defensive ASX shares to buy now appeared first on The Motley Fool Australia.

    Should you invest $1,000 in CSL right now?

    Before you buy CSL shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and CSL wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor James Mickleboro has positions in CSL. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Goldman Sachs Group, and REA Group. The Motley Fool Australia has recommended CSL and REA Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Here’s the Coles share price I would buy at

    A man in a supermarket strikes an unlikely pose while pushing a trolley, lifting both legs sideways off the ground and looking mildly rattled with a wide-mouthed expression.

    Coles Group Ltd (ASX: COL) shares are a popular investment on the ASX. That’s understandable. After all, Coles is one of the most prominent businesses in the country, given that it runs the nation’s second-largest network of supermarket grocery stores.

    Coles is, in my view, a relatively defensive company. It has a durable earnings base and a solid and reliable dividend track record. Despite this, the Coles share price has displayed significant volatility since it was listed on the ASX in its own right back in late 2018.

    To illustrate, Coles shares have traded between $12.50 and $19 over the past five years. Today, the company is priced smack bang in the middle of this range. At the close of trading on Wednesday, it was asking $16.11 a share.

    Take a look at all this for yourself here:

    As we’ve covered before here at the Fool, I find Coles appealing for a number of reasons. This stock’s dividend track record, as well as its defensive nature, are two things I tend to look for in an ASX share.

    But finding a quality company is only half the investment process. As the late great Charlie Munger once said, “No matter how wonderful a business is, it’s not worth an infinite price.”

    So, what price would I be happy to buy Coles shares at today?

    What price would make me buy Coles shares?

    Well, when it comes to a dividend payer like Coles, I like to gauge an investing case by using the dividend yield. As any good investor knows, a company’s dividend yield has an inverse relationship with its share price.

    Because of this relationship, in Coles’ case, we can use the dividend yield to determine what has historically been a good investment price.

    Right now, Coles has a dividend yield of 4.1%, which includes full franking credits. That’s not bad, given that the company was trading at a yield of just 3.53% last June when it was at its last 52-week high of $18.70.

    However, it’s not quite at a level where I’d be happy to buy. Coles’ current 52-week low is $14.82, which was hit back in October last year. At this price, Coles’ dividend yield would have been as high as 4.45%.

    Now, I’m not waiting for Coles to get back to those levels. But I would become very interested if the company reached around $15 a share. At that price, investors could expect a dividend yield of around 4.4%.

    Now, $15 might seem a long way from the current Coles stock price. But given this company’s volatile past, I wouldn’t be surprised to see it get back there at some point in the next year or two. And if it does, I might just have to buy some shares and hopefully secure a 4.4% dividend yield for my portfolio.

    The post Here’s the Coles share price I would buy at appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Coles Group Limited right now?

    Before you buy Coles Group Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Coles Group Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Coles Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • The CEO behind the world’s biggest science and engineering fair says the biggest mistake parents make is putting too much pressure on their kids

    Three women stand on stage smiling while the teenager in the middle holds an ISEF award
    Maya Ajmera, Grace Sun, and Christina Chan on stage at this year's Regeneron ISEF ceremony, where Sun won the top prize.

    • The Regeneron ISEF is a huge science fair that attracts top talent from all over the world.
    • This year, the competition awarded $9 million in prizes. It has a history of prestigious winners.
    • That can make for a stressful competition, but parents shouldn't add to it, CEO Maya Ajmera said.

    What's been called the "granddaddy" of science fairs took place last week.

    With over $9 million in prizes and heaps of prestige, the Regeneron International Science and Engineering Fair (ISEF) attracts some of the best and brightest students from around the world, like Hawaii and California as well as Kildare, Ireland and Shanghai, China.

    Past winners include Nobel Prize recipients, Rhodes Scholars, and MacArthur Foundation genius grant awardees.

    With that kind of money and acclaim on the line, it's not surprising that the atmosphere surrounding the competition is intense.

    "I think a lot of kids who are here actually — I don't think I'm reading it wrong — are truly excited to be here," said Maya Ajmera, the president and CEO of the Society for Science, which coordinates ISEF. "But they also feel the pressure of wanting to win and the pressure of going to college," she told Business Insider last week.

    The biggest mistake that parents with ambitious, curious kids can make is adding to that pressure, she said.

    Besides, between addictive social media, the climate crisis, growing up during the pandemic, and feeling lonelier than ever, Gen Z already has more than enough sources of anxiety.

    Stepping back and letting the kids do the work

    A girl in blue shirt with long dark hair holds a small OETC device that looks like a small clear square with white inside
    Grace Sun holds an OECT device that helped her win the ISEF science fair.

    While it can be useful to have a parent invested in helping their kid meet deadlines and make a nice-looking poster, some adults take it too far. Ajmera advises parents to "stand back and let your kid do it."

    "Get out of their way," she said, "and don't pressure them too much."

    If competing at ISEF is any indication of success, then Ajmera's advice certainly seems to work. Parents of ISEF competitors who spoke with Business Insider shared her philosophy.

    "We never pressure them," Maria Estrada, whose two children have both competed and won awards at ISEF, told Business Insider. Estrada said she's never expected her children to have 5.0 GPAs, and that she's even asked her daughter to slow down and be a kid.

    "I accepted my kids for who they are," she added. "I think it's important for parents to know their kids' abilities."

    Another parent, Alexa Groff, has a daughter, Taylor, who competes in science fairs and is a competitive dancer. She said that a friend recently told her she'd expected Groff to be an intense "dance mom" who showed up early to everything.

    In reality, the friend told her she was "super-duper chill."

    "I think it's important for Taylor to explore her passions without my hand in it," Groff said. When her daughter wanted to quit volleyball, for example, she said she let it happen and supported the decision."I want her to figure things out on her own, but know that I'm there for whatever she needs me for," Groff said.

    Combining passion and hard work to solve problems

    As part of the ISEF competition, nearly 2,000 students from 49 states and 70 countries gathered in Los Angeles to showcase their research to judges. ISEF pulls the finalists from 400 smaller science fairs from around the world, taking the winners from a pool of 175,000 competitors.

    While not typically at the same level as peer-reviewed scientific research, ISEF students' topics can be as sophisticated as microbial genetics, bone tumors, and microplastic filtration.

    Far from overly involving themselves, parents are often surprised at what their children accomplish with their projects. "They're kind of amazed, actually," Ajmera said.

    Students are often inspired to pursue these difficult subjects because of real-world issues and not by their parents' insistence to compete, Ajmera said.

    "A lot of kids have their own personal stories to share of something that's affected their families or their communities, and they want to go in and solve it," Ajmera said of the Gen Z competitors.

    For example, 18-year-old Maddux Alexander Springer received this year's $10,000 Peggy Scripps Award for Science Communication for his studies on a tumor-causing disease in green sea turtles near his home in Hawaii.

    Three students in suits holding ISEF awards with confetti raining down around them
    Krish Pai, Grace Sun, and Michelle Wei took top prizes home at this year's ISEF.

    That kind of interest and enthusiasm can carry a student far, which is important since most winning projects are often complex and time-consuming.

    For example, 16-year-old Grace Sun won this year's top prize, the $75,000 George D. Yancopoulos Innovator Award, for her project on organic electronic devices. Sun told Business Insider she had to miss hours of school to work in a university lab for her project.

    For some kids, though, it's all worth it because the time and effort are investments in what they hope will be their future careers.

    "A lot of these kids are going to either land in academia doing research, or they're going to be entrepreneurs and start new companies on the new cutting-edge technologies," Ajmera said.

    Read the original article on Business Insider
  • 4 totally unverified theories about Vivek Ramaswamy and BuzzFeed

    Former presidential candidate Vivek Ramaswamy addresses the media outside of Manhattan Criminal Court on behalf of former President Donald Trump on May 14, 2024 in New York.
    Former presidential candidate and current BuzzFeed investor Vivek Ramaswamy talks to the media in front of Donald Trump's criminal trial in New York.

    • Vivek Ramaswamy ran a failed campaign for the Republican presidential nomination.
    • Now he owns 7.7% of BuzzFeed, the struggling digital media publisher.
    • What's going on? We don't know. So we're guessing here.

    Why is Vivek Ramaswamy buying up shares of BuzzFeed?

    Let's start by stating the obvious: It is very funny to type the sentence "Why is Vivek Ramaswamy buying up shares of BuzzFeed?"

    Ramaswamy, as you may recall, was a fringe candidate in the most recent Republican presidential primary, where his platform consisted of praising Donald Trump and promising to "Take America First further than Trump." He dropped out of the race in January, after spending a reported $30 million of his own money on the campaign and coming in fourth in the Iowa caucuses.

    And BuzzFeed is BuzzFeed — the cheeky digital publisher that sprouted up alongside Facebook and, at one point, seemed poised to become the future of media. At its peak, it sported a valuation of nearly $2 billion and had a knack for commanding the attention of millennials, advertisers, and old media giants like The New York Times, which worried that BuzzFeed would displace it.

    By the time BuzzFeed went public in 2021, however, almost all of the air had left the digital publishing bubble. Since then BuzzFeed has gone through multiple layoff rounds, unwound a big M&A deal that was the supposed reason for its IPO in the first place, and its stock sank so low it risked getting kicked off the Nasdaq.

    And now Ramaswamy has bought up 7.7% of BuzzFeed — for a little less than $4 million — and announced that he will be an activist investor — someone who thinks the company's shares are undervalued and that he can convince BuzzFeed's management to make changes that will make the shares worth more.

    One issue complicating any of Ramaswamy's plans is that BuzzFeed founder and CEO Jonah Peretti controls the company, even though he owns a minority of its shares, due to a dual-class stock structure.

    But that doesn't mean Peretti is immune to shareholder pressure. Just this month, he announced a new plan that ties his compensation to the company's stock performance in an attempt to convince investors that he's really serious about turning things around.

    So, again: What's Ramaswamy's actual plan?

    Ramaswamy has yet to talk to BuzzFeed's board or management, says a person familiar with the company. And neither BuzzFeed nor Ramaswamy has responded to requests for comment, so we're just going to have to guess here. A few theories from the peanut gallery:

    • It's the money! This is the most obvious answer because it's why any activist shareholder invests in a company. They may say they have better strategy, or that management is incompetent, or whatever. What they really want is for shares in the company to be worth more than what they paid for them, and it doesn't really matter how they get there.
    • It's the clicks! Ramaswamy likes attention — he spent $30 million of his own money getting himself onto the national stage last year. So why not spend a few million more and buy his very own media platform? BuzzFeed no longer commands the same kind of media spotlight it used to, but it's still pretty big and includes not just BuzzFeed.com, but also The Huffington Post as well as First We Feast — better known as the company that makes the "Hot Ones" viral chicken wing/celebrity interview show. ("Viral chicken wing/celebrity interview show" is also fun to type.)
    Read the original article on Business Insider
  • Nicole Shanahan, RFK Jr’s running mate and one his his largest donors, reportedly received $1 billion in her divorce from Google’s Sergey Brin after rumored Elon Musk affair

    Nicole Shanahan waves during a campaign event
    Attorney Nicole Shanahan has joked that Robert F. Kennedy Jr. chose her to be his running mate based on her staggering wealth,

    • Nicole Shanahan reportedly received over $1 billion from her divorce from Google founder Sergey Brin.
    • Brin, one of the wealthiest persons in the world, is worth over $139.5 billion.
    • Shanahan has used her wealth to buck up RFK Jr.'s long-shot presidential campaign.

    Attorney Nicole Shanahan, Robert F. Kennedy Jr.'s running mate, has a staggering wealth that would make her one of the wealthiest vice presidents in history if their long shot campaign were successful this November.

    According to The New York Times, Shanahan's largess is largely due to her divorce settlement with Google founder Sergey Brin. Shanahan received more than $1 billion from the divorce, three people with knowledge of her finances told The Times. Brin, one of the wealthiest people in the world, is worth an estimated $139.5 billion, according to Forbes.

    Forbes previously estimated in March that Shanahan received roughly $390 million in Alphabet shares from Brin based on the then-estimated value of shares that were likely transferred to her. Their divorce records are not public. Forbes tried to piece together what Shanahan may have received from her husband of three years based on Brin's public disclosures about his stake in Alphabet.

    The Wall Street Journal reported last year on rumors that Shanahan had an affair with Tesla CEO Elon Musk, a claim both have denied. The Times, citing three sources, reported that the affair happened after both of them took ketamine at a Miami party in late 2021 and that she told Brin about it.

    Brin and Shanahan reportedly separated weeks later, and Brin filed for divorce in early 2022.

    Shanahan has used her wealth to help Kennedy's campaign, donating $10 million to a pro-Kennedy super PAC. Her $2 million donation helped the group, American Values 2024, secure a Super Bowl ad that compared Kennedy to his father, RFK, and his presidential uncle, JFK. Other Kennedys did not appreciate his allies blatantly using the family's image to boost his campaign.

    Kennedy, according to The Times, initially eyed Jets Quarterback Aaron Rodgers and former Minnesota Gov. Jesse Ventura before settling on Shanahan as his running mate. Former Congresswoman Tulsi Gabbard has also claimed to have had conversations with Kennedy about being his vice president but has said to shift her focus to trying to join former President Donald Trump's ticket.

    Rodgers told reporters on Tuesday that he wasn't quite ready to retire from the NFL to enter politics.

    "I love Bobby," Rodgers said. "We had a couple of really nice conversations. But there were really two options: It was retire and be his VP or keep playing."

    Kennedy's largest focus at the moment is trying to make next month's debate between President Joe Biden and Trump. The unprecedented early debate does offer him a narrow path to get on the stage, but it's unclear if he can meet both the polling and ballot access thresholds in time. A third-party presidential candidate hasn't debated alongside the two major nominees since Texas businessman Ross Perot in 1992.

    Read the original article on Business Insider