Stock Pick

  • 5G and 6G are among ‘the most strategic sectors’ in the AI age, a national security advisor says

    Niloofar Razi Howe, Anne Neuberger
    Niloofar Razi Howe of Capitol Meridian Partners speaks with Anne Neuberger, the US deputy national security advisor for cyber and emerging tech, on Thursday.

    Rosalie Chan

    • The US is strengthening its 5G infrastructure, according to a National Security Council official.
    • She said the US must improve its telecom infrastructure.
    • This article is part of "5G and Connectivity Playbook," a series exploring some of our time's most important tech innovations.

    The US is bolstering its 5G infrastructure in the age of AI.

    Anne Neuberger, the deputy national security advisor for cyber and emerging tech, said that 5G and 6G were some of "the most strategic sectors," especially since telecom and data-center infrastructure houses the data required to train artificial-intelligence models.

    On Thursday at the annual RSA Conference in San Francisco, she spoke at a fireside chat on cybersecurity and new technologies like 5G and AI, which was moderated by Niloofar Razi Howe, an operating partner at Capitol Meridian Partners.

    Neuberger discussed the importance of the telecom sector, saying that one of the biggest challenges for the US was its lack of competitive technology in telecom infrastructure. She said the US needed to improve its hardware and encourage competition among vendors.

    This is especially important, Neuberger said, as the US is engaged in a tech arms race with China and Chinese telecom companies, such as Huawei. As Chinese technology gets more embedded in the technology Americans use daily, whether it's 5G technology or connected vehicles, the US needs to consider national security risks in how data is collected, she added.

    "We're at the point we can say, what's a thoughtful approach that protects Americans' sensitive data, that protects Americans' navigation data while also promoting innovation?" Neuberger said.

    The telecommunications industry affects valuable information belonging to American companies and the government. It's also often managed and updated remotely, so it needs to be secure, Neuberger said.

    "Telecom systems are so complex today," she said. "If you don't have confidence in those vendors, it's really hard to trust it."

    Neuberger highlighted some of the government initiatives for investing in 5G, including the Biden administration's $1.5 billion Public Wireless Supply Chain Innovation Fund, which aims to bring open standards into telecommunications and advance innovation in the wireless industry.

    "What we've been trying to do is bring in innovation to bring in new players to allow our traditional strength in software to come to bear," Neuberger said.

    Grants from these these types of funds have helped US allies. They have allowed global telecom companies, including those from India, Japan, and Europe, to test new technology together and learn from each other. The US has also been building a telecom partnership with India, as it's one of the biggest telecom markets in the world, along with the US and China.

    In November, the White House launched its National Spectrum Strategy to promote innovation in wireless technologies. Neuberger said this included industries such as connected vehicles and defense, adding that these technologies allowed the US to aid Ukraine when Russia struck down its electric lines.

    "As we think about how we lead in these connected industries in the future, we have to think about creative ways to use spectrum more efficiently and differently," Neuberger said.

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  • See photos of the US Navy’s rare blue nose tradition, which may also be its strangest

    The icebreaker SS Manhattan crushes through pack ice
    The icebreaker SS Manhattan crushes through pack ice in the M'Clure Strait in the northwest territories of Canada.

    Bettmann/Getty Images

    • The Order of the Blue Nose is a naval tradition given to sailors who cross the Arctic Circle.
    • The tradition involves a series of tests and obstacles to gain a visit from the King of the North.
    • The Blue Nose Ceremony is one of the rarest of naval traditions.

    The Order of the Blue Nose is one of the most exclusive clubs among members of the US Navy.

    The Order of the Blue Nose is a riff on the line-crossing ceremony many sailors experience when they cross the equatorial line.

    What makes joining the Order of the Blue Nose harder is that sailors must be aboard a ship crossing the Arctic Circle at latitude 66°33' N — symbolizing that they entered the "realm" of Boreas Rex, King of the North.

    Sailors who partake in the rare naval tradition must undergo a number of tasks in the frigid temperatures of the Arctic in order to earn the graces of the King and earn their blue nose.

    An icy expedition
    USRC Bear and SS Corwin in Alaska.
    USRC Bear and SS Corwin in Alaska.

    Heritage Art/Heritage Images via Getty Images

    In 1851, a ship successfully crossed the Arctic Circle as part of what is now known as the First Grinnell Expedition.

    Funded by Henry Grinnell, an American merchant from New York, and carried out by US Navy officers, the mission aimed to find the lost expedition of English explorer Sir John Franklin, who led a team of Royal Navy sailors to the Arctic six years prior and never returned.

    The First Grinnell Expedition marked the first time the US Navy successfully navigated the Arctic and returned to the US. It was soon followed by the second Grinnell Expedition, which reached the highest recorded latitude in the Western Hemisphere at the time.

    With the knowledge gained about land masses, sailing techniques, and maritime paths in the Arctic, many expeditions north would follow.

    A journey plagued with danger
    The US Navy icebreaker USS Burton Island is shown is Arctic waters as a helicopter prepares to land on its deck
    The US Navy icebreaker USS Burton Island is shown is Arctic waters as a helicopter prepares to land on its deck during an expedition to the far north.

    Bettmann/Getty Images

    Despite a growing understanding of the area from repeat expeditions, it would be decades before the journey became less perilous. Many who explored the Arctic would not return after succumbing to the cold temperatures or damage sustained by ships from the ice.

    For 19th-century ships, the ice pack could become so dense that sailors would get stuck for months at a time, having to wait until the summer months for the ice to thaw and melt to pass through successfully.

    One of the most famous instances of the danger of the Arctic is the Jeannette, a ship that was stuck in ice for two years before it was eventually crushed by ice. Members aboard the Jeannette escaped the boat but eventually froze to death in the Arctic winter.

    A well-earned achievement
    The certificate which is issued by Neptune to all airmen whose flying duties may take them across the Arctic Circle.
    This is a Royal Air Force certificate, typical of the 1940s, to be filled out for sailors who cross into the Arctic Circle.

    AP

    There are myriad unofficial honors granted to members of the US Navy by tradition. Plank owners, Shellbacks, and even Golden Dragons all require certain parameters to be met before the certificates can be handed out.

    A number of requirements need to be met to join the Order of the Blue Nose. But only recently have US Navy ships started returning to the Arctic Circle. The region has seen increased activity amid growing great power competition there. In late 2018, USS Harry Truman sailed to the Arctic Circle to participate in military exercises with other NATO forces — the first aircraft carrier to venture into the Arctic since the early 1990s.

    And not all Navy vessels make their way to the Arctic. Ships stationed on the East Coast of the US are more likely to make their way to the Arctic compared to their West Coast counterparts. But even if a sailor is on the right ship and sailing out of the right port, they still may not actually make it to the Arctic Circle if the commanding officer deems it a waste of fuel or it doesn't make sense for the trip.

    Morale booster
    US Navy sailors sport blue noses
    Crew members on board the US Navy Attack Submarine USS Pogy sport blue noses after returning from Operation Scientific Exercise.

    PO2 Felix Garza/National Archives

    Going through various naval ceremonies serves as a morale booster for sailors, marking a significant moment in their career traversing the ocean.

    As US Secretary of the Navy John H. Dalton wrote in 1997, "these activities, if properly supervised, can be effective leadership tools to instill esprit de corps, unit cohesion, and respect for an accomplishment of another Sailor or Marine."

    "'Crossing the line' ceremonies, and others, are only meant to celebrate and recognize the achievements of individual Sailors or Marines or those of entire units," Dalton continued.

    Different ceremonies, same core principles
    Culinary Specialist Senior Chief Petty Officer Aneuris Robles plays the role of Boreas Rex, the King of the North, and initiates Sailors into the "Order of the Blue Nose"
    Culinary Specialist Senior Chief Petty Officer Aneuris Robles plays the role of Boreas Rex, the King of the North, and initiates Sailors into the "Order of the Blue Nose" during a line-crossing ceremony aboard the Arleigh Burke-class guided-missile destroyer USS Thomas Hudner.

    US Navy photo by Mass Communication Specialist 2nd Class Sara Eshleman/Released

    Because there is no formalized ceremony or certificate, the actual Blue Nose ceremony can vary from ship to ship. However, there are some commonalities among them.

    All ceremonies include a visit from Boreas Rex, the King of the North whose domain the sailors enter upon crossing the Arctic Circle. To be accepted into his realm, sailors must go through a series of challenges designed by captains and crews.

    Naval ceremonies around the world
    Sailors are welcomed into the "Order of the Blue Nose" during an Arctic Circle ceremony
    Sailors are welcomed into the "Order of the Blue Nose" during an Arctic Circle ceremony on the flight deck of the San Antonio-class amphibious transport dock ship USS Arlington.

    US Navy photo by Mass Communication Specialist 1st Class John Bellino

    The tradition to mark the feat of crossing some of the harshest waters in the world is practiced beyond the US Navy.

    Britain's military also has a long-standing tradition for sailors who cross into the Arctic Circle to become members of the Royal Order of the Blue Nose, upon which the US rite of passage could be based.

    The crew of Canadian tanker, Nikolay Yevgenov, did their homework on crossing traditions online and discovered the Blue Nose ceremony. In an effort to boost morale and reward the crew for their hard work during their perilous journey, Captain Denis O'Donnell put together his spin on the Blue Nose Ceremony for his crew.

    "The ceremonies differ ship to ship depending on time trade and willingness of the people onboard to take part. However, the ceremonies may differ, and the feeling is shared upon completion," O'Donnell wrote in a blog post of the experience. "These rituals help to form a common bond on board through the good times and especially the tough times."

    The potential rise of Blue Nose members
    Ensign Sehoon Kim is welcomed into the "Order of the Blue Nose" during an Arctic Circle ceremony on the flight deck of USS Arlington.
    Ensign Sehoon Kim is welcomed into the "Order of the Blue Nose" during an Arctic Circle ceremony on the flight deck of USS Arlington.

    US Navy photo by Mass Communication Specialist 1st Class John Bellino

    Though US Navy submarines frequently visit the Arctic, larger naval ships have been absent for roughly the past 20 years. The Navy only started again sending ships to the Arctic within the last five to six years.

    The climate crisis is opening up new passageways in the Arctic, creating more opportunities for competition among countries like the US, Russia, and China. Increased assertiveness by some US rivals is leading the US military to look more closely at the region.

    The Blue Nose ceremony might become much more common than it has been in the past 20 years while the US Navy keeps an eye on escalating tensions in the Arctic.

    Editor's note: This article has been updated to reflect the British military's "Royal Order of the Blue Nose" traditions, including clarifying that a certificate came from the Royal Air Force.

    Read the original article on Business Insider

  • How much could $10,000 invested in Telstra shares be worth next year?

    A man casually dressed looks to the side in a pensive, thoughtful manner with one hand under his chin, holding a mobile phone in his hand while thinking about something.

    If you are lucky enough to have $10,000 burning a hole in your pocket, you might want to consider putting it to work in the share market.

    After all, with the share market providing investors with a 10% per annum return over the long term, it could turn that money into something much larger in the future if you have no immediate use for it.

    With that in mind, let’s now see if Telstra Group Ltd (ASX: TLS) shares would be a good option for those funds.

    Are Telstra shares a good option?

    It is fair to say that the telco giant has not been a great place to invest over the last 12 months.

    Over this time, the company’s shares have lost 16% of their value. This compares to a 6.3% gain by the ASX 200 index.

    Though, it is worth noting that this decline has little to do with Telstra’s performance and more to do with interest rates. As Telstra’s shares are treated like a bond proxy by many investors, demand falls when rates rise.

    But that was then. What about now? Could an investment in Telstra shares deliver strong returns over the next 12 months? Let’s find out.

    What could $10,000 become?

    Firstly, if you were to invest $10,000 (and $1 more) in the telco giant, you would end up owning 2,740 shares at the current share price of $3.65.

    According to a recent note out of Goldman Sachs, its analysts believe the company’s shares are undervalued at the current share price. That note reveals that the broker has put a buy rating and $4.55 price target on the company’s shares.

    This means that if your 2,740 Telstra shares rose to that level, they would be worth $12,467. This is almost $2,500 or 25% greater than your original investment.

    But the returns shouldn’t stop there. Telstra is historically one of the more generous dividend payers on the Australian share market and Goldman expects this to remain the case in the future.

    The broker is forecasting a fully franked dividend of 18 cents in FY 2024. This represents a 4.9% dividend yield and will boost the value of your investment by $490 if you reinvest the income.

    In total, this would mean that a $10,000 investment in Telstra shares becomes worth $12,957. That represents a total 12-month return of almost $3,000 or 30%, which is approximately triple the average market annual return.

    The post How much could $10,000 invested in Telstra shares be worth next year? appeared first on The Motley Fool Australia.

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

    Before you buy Telstra 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 Telstra 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 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.

  • Down 80% in a year, are Sayona Mining shares now a buy?

    a mine worker holds his phone in one hand and a tablet in the other as he stands in front of heavy machinery at a mine site.

    Sayona Mining Ltd (ASX: SYA) shares have had a year to forget.

    One year ago, shares in the S&P/ASX 300 Index (ASX: XKO) lithium stock were trading for 23 cents apiece. Which was already well down from the highs of 36 cents a share in April 2022, when lithium prices were storming towards all-time-highs.

    Yesterday, Sayona shares closed at 4.6 cents, putting the stock down 80% over 12 months.

    As you’d expect, that kind of fall has also knocked the stuffing out of Sayona’s market cap, which has dropped to $471.95 million.

    Unfortunately, this only caused more pain, as the market cap reduction led to Sayona Mining shares being booted from the S&P/ASX 200 Index (ASX: XJO) in March as part of the S&P Dow Jones Indices quarterly rebalance. This means some fund managers, limited to investing in the biggest pool of stocks, won’t be able to hold shares.

    But the biggest and really inescapable pressure has been the massive retrace in lithium prices over the past 18 months. However, it’s worth noting that the price of the battery-critical metal looks to have found a floor in 2024.

    So, after crashing 80% in a year, are Sayona Mining shares now good value?

    What’s been happening with the ASX lithium miner?

    Sayona’s primary focus is its North American Lithium (NAL) project, located in Quebec, Canada.

    NAL is a joint venture project. Sayona Mining owns 75%, and Piedmont Lithium Inc (ASX: PLL) owns the other 25%.

    Despite a stabilising lithium price and maiden production in H1 FY 2024, Sayona Mining shares have slumped 37% in 2024 to date.

    With maiden half-year revenue of $118 million for the first half, the miner closed out 2024 with a cash balance of $158 million as at 31 December.

    But it’s been burning through cash since then.

    At its quarterly update, released on 26 April, the company reported achieving an 18% increase in production from the prior quarter to 40,439 dry metric tonnes (dmt).

    Costs also increased, however, with unit operating costs up 10% quarter on quarter to $1,536 per dmt.

    Rather alarmingly for Sayona Mining shares, while the lithium miner’s concentrate sales volumes increased by 142% from the prior quarter to 58,055 per dmt, it received an average realised price of $999 per dmt.

    Or more than $500 per dmt less than it cost to produce.

    Management reported cash holdings of $99 million as at 31 March, down $59 million over the three months.

    Time to buy Sayona Mining shares?

    With these figures in mind, it’s hard to make a case for buying Sayona Mining shares right now.

    Indeed, the ASX lithium stock again finds itself among the top-ten most shorted stocks on the ASX this week, with a short interest of 8.1%.

    Not that short sellers don’t often get it wrong, mind you.

    And on the plus side, the Federal government has flagged ongoing and increased support for miners of critical minerals, which includes lithium.

    But with the lithium price forecast to remain subdued in the year ahead, and with the production costs at NAL in mind, I’d put Sayona Mining shares on a watch list for now and hold off on buying.

    The post Down 80% in a year, are Sayona Mining shares now a buy? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Sayona Mining Limited right now?

    Before you buy Sayona Mining 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 Sayona Mining 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 Bernd Struben 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 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.

  • 3 bargain Australian shares with over 5% dividend yields

    Despite the Australian share market currently trading within sight of its record high, that doesn’t mean there aren’t any bargain shares out there for investors.

    For example, three Australian shares that could be both cheap and offer big dividend yields are listed below.

    Here’s what you need to know about these buy-rated shares:

    Accent Group Ltd (ASX: AX1)

    The first Australian share that could be both cheap and offer big dividend yields is Accent Group. Through brands such as HypeDC, Sneaker Lab, Platypus, Stylerunner, and The Athlete’s Foot, it operates over 800 physical stores and multiple online stores.

    Bell Potter is a very big fan of the footwear focused retailer. It has a buy rating and $2.50 price target on its shares. This is notably higher than its current share price of $1.84.

    In respect to income, Bell Potter is expecting the company to pay fully franked dividends per share of 13 cents in FY 2024 and then 14.6 cents in FY 2025. Based on its current share price, this represents yields of 7% and 7.7%, respectively.

    Healthco Healthcare and Wellness REIT (ASX: HCW)

    Another bargain Australian share could be Healthco Healthcare and Wellness REIT. It is a property company with a focus on health and wellness assets.

    Bell Potter thinks its shares are dirt cheap at current levels. The broker currently has a buy rating and $1.70 price target on them. This compares to its current share price of $1.17, which is only a fraction above its 52-week low.

    The broker also expects some big dividend yields from its shares in the coming years. It is forecasting dividends per share of 8 cents in FY 2024 and then 8.3 cents in FY 2025. This will mean dividend yields of 6.8% and 7.1%, respectively, for investors.

    IPH Ltd (ASX: IPH)

    A final Australian share that could be a bargain is IPH. It is an intellectual property solutions company with operations across the world.

    Goldman Sachs is very positive on the company and sees significant value in its shares at current levels. The broker currently has a buy rating and $8.70 price target on its shares. This compares to its latest share price of $6.07.

    As with the others, the broker also expects some big dividend yields from its shares in the near term. It is forecasting fully franked dividends per share of 34 cents in FY 2024 and then 37 cents in FY 2025. This would mean yields of 5.6% and 6.1%, respectively.

    The post 3 bargain Australian shares with over 5% dividend yields appeared first on The Motley Fool Australia.

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

    Before you buy Accent 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 Accent 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 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 recommended Accent Group and IPH. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Kindergarten court: Trump lawyer grills Michael Cohen on times he’s called ex-president a ‘dictator douchebag’ and ‘animal’

    Donald Trump sits next to his attorneys Todd Blanche and Emil Bove during the former president's criminal hush-money trial in Manhattan.
    Donald Trump sits next to his attorneys Todd Blanche and Emil Bove during the former president's criminal hush-money trial in Manhattan.

    Craig Ruttle – Pool/Getty Images

    • Donald Trump's lead attorney Todd Blanche began his cross-examination of Michael Cohen Tuesday.
    • Blanche came out of the gate swinging, questioning Cohen about social media posts bashing Trump. 
    • "You referred to President Trump as a 'dictator douchebag,' didn't you?" Blanche demanded of Cohen.

    Donald Trump's lead attorney Todd Blanche came out of the gate swinging on Tuesday as he began his cross-examination of the former president's ex-lawyer and fixer Michael Cohen.

    Blanche grilled Cohen — the prosecution's star witness in Trump's New York criminal hush-money trial — about the many times that Cohen insulted both Trump and himself on social media.

    "You referred to President Trump as a 'dictator douchebag,' didn't you?" Blanche said as he questioned Cohen about an April 23 TikTok Cohen made just days after the historic trial began.

    Cohen deadpanned from the witness stand, "Sounds like something I would say."

    Journalists and members of the public watching the trial on video screens in the court's overflow room erupted in laughter.

    Blanche also went after Cohen about him ranting in the recent TikTok video that Trump "belongs in a fucking cage."

    "You said, 'he goes back into that little cage, which is where he belongs, in a fucking cage, like an animal.' Did you say that?" Blanche demanded of Cohen, who responded, "I recall saying that."

    Michael Cohen, the ex-lawyer for former President Donald Trump, departs his home in Manhattan to testify in Trump's criminal hush-money trial.
    Michael Cohen, the ex-lawyer for former President Donald Trump, departs his home in Manhattan to testify in Trump's criminal hush-money trial.

    REUTERS/Mike Segar

    Cohen's roasts of his former boss were revisited

    Just moments into his fiery cross-examination of Cohen, Blanche said, "In fact, on April 23rd, you went on TikTok and called me a crying little shit, didn't you?"

    "Sounds like something I would say," Cohen said to an earlier wave of laughter in the downtown Manhattan court's overflow room — a second courtroom in the building where members of the public and press are able to watch the trial on screens.

    New York Supreme Court Justice Juan Merchan swiftly sustained an objection from the prosecution, striking the question from the record.

    Later in the cross-examination, Blanche brought up more occasions where Cohen roasted Trump. He asked about a T-shirt depicting an illustration of Trump in an orange jumpsuit and behind bars, which Cohen wore on his April 23 TikTok video.

    "It's part of the merch store," Cohen said, touting items sold by the MeidasTouch Network, the left-leaning media company where he hosts one of his anti-Trump podcasts.

    https://platform.twitter.com/widgets.js

    The website also sells a mug depicting Trump's signature coiffure with the phrase "Send him to the big house, not the White House," as Blanche pointed out to the jury.

    Cohen's cross-examination comes after he spent the last day and a half on the witness stand, being questioned by prosecutor Susan Hoffinger.

    Cohen testified that Trump was the one who directed him to make a hush-money payment to porn star Stormy Daniels in the days before the 2016 election.

    Much of his most damning testimony came when he quoted what he described as Trump's own words.

    "Just take care of it," Cohen said Trump told him in ordering him to quash Daniels' story about the sex she says she had with Trump.

    The Manhattan district attorney's office has charged Trump with 34 felony counts of falsifying business records.

    Prosecutors allege Trump illegally disguised records reimbursing Cohen for a $130,000 hush-money payment made to Daniels ahead of 2016 election.

    The payment, prosecutors say, was to buy Daniels' silence over a one-time sexual encounter the porn star says she had with Trump at a Lake Tahoe hotel suite in 2006 during a celebrity golf tournament.

    Trump has denied having sex with Daniels.

    Prosecutors hope Cohen's testimony will bolster their argument that Trump orchestrated the payment to Daniels as part of an illegal conspiracy to influence the election.

    "He wasn't thinking about Melania," Cohen testified of Trump. "This was all about the campaign."

    Read the original article on Business Insider

  • Russia’s economy can’t avoid a crisis forever and it’s becoming more vulnerable to shocks, think tank researcher says

    Russia Vladimir Putin

    AP

    • Russia can't stave off an economic crisis forever, think tank researcher Alexander Kolyandr writes.
    • Moscow is becoming more susceptible to major shocks the longer the war goes on.
    • "The Kremlin, as a result, is in a three-way bind of its own making," Kolyandr said.

    Russia's economy is fragile and policymakers won't be able to stave off a crisis for very long, a think tank researcher argued in a post on Tuesday. 

    Alexander Kolyandr, a Russian economy expert and researcher for the Centre for European Policy Analysis, pointed to mounting challenges faced by the Kremlin as its war in Ukraine drags on through its third year. 

    Central bankers and policymakers in Russia have so far managed to keep the economy afloat, but their good luck is bound to run out, Kolyandr warned.

    "Putin used to know that the economy was best left to professionals. Indeed, the men and women running the country's central bank, finance ministry, and ministry of economic development remain highly skilled and saved the country from economic collapse in 2022," Kolyandr wrote in a recent note. "Two years on, they clearly understand the longer-term impossibility of the task they've been set. The question is, do they dare tell the boss? And if they do, will he listen?"

    Russia's economy has flashed key signs of weaknesses since the West first began imposing sanctions on the nation in 2022. Trade restrictions, like a ban on energy imports to Europe and $60-per-barrel price cap on Russian oil, have delivered a major blow to the Kremlin's war chest, with Russia's energy revenue plunging 24% last year. 

    Russia is also reeling from the growing costs of its war, in both its finances and its human capital. The nation is now slammed with a severe worker shortage, which has pushed up wages and inflation.

    Prices in Russia are growing at a pace of around 8%, double the central bank's official price target. Interest rates have also soared to 16% as policymakers try to stem the inflationary tide, which poses another burden to consumers. 

    "The Kremlin, as a result, is in a three-way bind of its own making. The government can't cut spending as long as the war continues. The war, however, saps the labor force, fueling inflation and diminishing both welfare and public sentiment. And high interest rates, necessitated by all that inflation, stifle investment in productivity and further distort the economy," Kolyandr said.

    Other experts have noted that Russia faces a dilemma as it juggles managing its economy and prolonging its war against Ukraine. According to one European economist, the nation has become dependent on war for economic growth, and it can't afford to win or lose the war.

    Read the original article on Business Insider

  • 1 magnificent ASX stock down 10% to buy and hold forever

    A smiling woman sits in a cafe reading a story on her phone about Rio Tinto and drinking a coffee with a laptop open in front of her.

    It has been an uncharacteristically underwhelming 12 months for CSL Ltd (ASX: CSL) shares.

    Over the period, the ASX biotech stock has lost around 10% of its value.

    As a comparison, over the past 15 years, this magnificent company’s shares have generated an average total return of 16.6% per annum.

    This would have turned a $10,000 investment in the ASX stock back in 2009 into $100,000 today.

    And while recent weakness is very off-brand for CSL and disappointing for shareholders, it could prove to be a buying opportunity for non-shareholders.

    That’s the view of a large number of analysts, which currently have buy ratings on the company’s shares with price targets implying that market-beating returns are possible.

    What are analysts saying about this ASX stock?

    One broker that is particularly bullish on CSL is Morgans. In fact, the broker has named the company on its best ideas list again this month. It has an add rating and $315.40 price target on them, which implies potential upside of almost 13% over the next 12 months.

    It highlights the company’s shares are undervalued compared to historical averages. This is despite the ASX stock having a very bright outlook. It said:

    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.

    Analysts at Macquarie are even more bullish on the ASX stock. They currently have an outperform rating and $330.00 price target on CSL’s shares. This suggests that upside of 18% is possible between now and this time next year.

    The broker is very positive on the company’s outlook. So much so, it sees scope for CSL’s shares to rise to $500 within three years. This is almost double its current share price, which means that some very big annual returns would be coming for investors over the next three years if Macquarie is on the money with its recommendation.

    In addition, the team at UBS remains very positive. Last month it retained its buy rating and $330.00 price target on CSL’s shares. UBS believes the ASX stock can achieve high-teens earnings growth over the next few years.

    All in all, the broker community appears to believe this magnificent ASX stock could be worth buying and holding at current levels.

    The post 1 magnificent ASX stock down 10% to buy and hold forever 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 and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • If I were Warren Buffett, I’d buy these 3 ASX shares

    a man with a wide, eager smile on his face holds up three fingers.

    I view Warren Buffett as one of the best investors in the world. He has done exceptionally well at growing Berkshire Hathaway into a huge business thanks to the returns generated by himself and Charlie Munger. There are a few ASX shares that I think fit with his philosophy.

    Buffett hasn’t outlined every factor that he considers when investing. But, one of the main things he likes to do is stay within his circle of competence, sticking to industries he knows. He also likes businesses that are capable of producing good growth for years ahead.

    If I were Warren Buffett, I’d buy these three ASX shares for Berkshire Hathaway’s portfolio.

    Washington H. Soul Pattinson and Co. Ltd (ASX: SOL)

    Soul Patts is the ASX share that’s most similar to Berkshire Hathaway. The Australian company is an investment conglomerate that owns private businesses and stakes in listed businesses such as TPG Telecom Ltd (ASX: TPG), New Hope Corporation Ltd (ASX: NHC), Tuas Ltd (ASX: TUA) and Apex Healthcare.

    Soul Patts focuses on investments that generate good, defensive cash flows. It invests in the sorts of areas that Buffett may like, and it largely avoids technology companies (like Buffett does).

    The ASX share has been listed for over 100 years, so it has shown excellent longevity already.

    Soul Patts continues to expand its portfolio by making additional investments – agriculture and bonds/credit have been a recent focus by the company.

    As a bonus, it has grown its dividend every year since 2000 and has a trailing grossed-up dividend yield of 4%.

    Brickworks Limited (ASX: BKW)

    Brickworks is an interesting business – it is the largest brickmaker in Australia and is involved in a number of other building products, including roofing, masonry, cement and battens. Berkshire Hathaway owns Clayton Homes, a modular home manufacturer somewhat similar to Brickworks.

    But, Brickworks also owns a sizeable chunk of Soul Patts shares, making its underlying assets closer to Berkshire Hathaway.

    Brickworks also has a large amount of money invested in industrial properties. The ASX share owns a 50% share in a joint venture with Goodman Group (ASX: GMG) where large warehouses are being built on excess Brickworks land. Building warehouses on this empty land increases the value of the land and unlocks rental profit.

    The growing dividends from Soul Patts and the larger rental profits are funding bigger Brickworks dividends. It offers a trailing grossed-up dividend yield of 3.5%.

    Collins Foods Ltd (ASX: CKF)

    Fast food business Dairy Queen is owned by Berkshire Hathaway, so Buffett has shown his willingness to invest in the quick service restaurant (QSR) restaurants.

    I think Collins Foods is the most compelling food ASX share at the moment. It operates KFCs in Australia, Germany and the Netherlands, as well as Taco Bells in Australia.

    Over time, this business is expanding its networks in Australia and Europe, adding scale and boosting the profitability of the business.

    KFC is a strong brand, and people keep coming back for more. In the FY24 first-half result, same store sales (SSS) grew by 6.6% at KFC Australia and 8.8% for KFC Europe.

    The estimates on Commsec suggest Collins Foods could grow its earnings per share (EPS) by 44% between FY24 and FY26. This would put the Collins Foods share price at under 13x FY26’s estimated earnings.

    The post If I were Warren Buffett, I’d buy these 3 ASX shares appeared first on The Motley Fool Australia.

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

    Before you buy Brickworks 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 Brickworks 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, Collins Foods, 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 Berkshire Hathaway, Brickworks, Goodman Group, and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended Berkshire Hathaway, Collins Foods, and Goodman Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Inside the career rise of Sundar Pichai, Google and Alphabet’s current CEO

    Google CEO Sundar Pichai gestures while giving a speech at the Google I/O conference.
    Sundar Pichai, the CEO of Alphabet, is one of Tech's highest-paid execs.

    Jeff Chiu/Associated Press

    • Alphabet CEO Sundar Pichai is one of the world's highest-paid execs, earning $226 million in 2022.
    • Pichai has been at Google since 2004, becoming its CEO in 2015 and Alphabet's CEO in 2019.
    • In the role, Pichai has reorganized Google's workforce, issued mass layoffs, and emphasized AI.

    Sundar Pichai has had a meteoric rise since joining Google as a 31-year-old product manager in 2004.

    In the 11 years that followed his first steps on the Googleplex, Pichai was promoted four times, eventually becoming the CEO of Google in 2015. 

    In that role, he was responsible for the company's core businesses and cash cow — and did a good enough job that, in December 2019, he was promoted one more time, replacing Google cofounder Larry Page as the CEO of Alphabet, Google's parent company.

    Since then, he has led the almost-$2-trillion company through the pandemic, layoffs, and the AI renaissance that's taken Silicon Valley by storm.

    So, who is Pichai, and how did he scale the ranks to get one of the most important jobs at one of the most important companies in the world? Here's his story.

    Jillian D'Onfro, Avery Hartmans, and Mary Meisenzahl contributed to an earlier version of this article.

    Pichai, whose full name is actually Pichai Sundararajan, grew up in Chennai, India.
    Indian students wearing white uniforms and lined up down a street each grasp onto a 200-meter-long Indian national flag.
    Pichai grew up in a two-room apartment in Chennai, India, and moved to the United States after winning a scholarship to Stanford University.

    Babu Babu/Reuters

    Pichai's father was an electrical engineer, and his mother worked as a stenographer before having him and his younger brother. The family wasn't wealthy, and the boys slept together in the living room of their two-room apartment.

    Early on, Pichai's family realized he had a talent for remembering numbers after noticing he could recall every phone number he had ever dialed on their rotary phone. He has been known to sometimes show off his memorization skills at meetings, Bloomberg said in 2014. 

    After becoming interested in computers — the first software program he wrote was a chess game — Pichai studied engineering at the Indian Institute of Technology in Kharagpur. His success there won him a scholarship to Stanford University.

    Pichai earned a master's degree from Stanford and later attended the University of Pennsylvania's Wharton School for his MBA.

    Pichai has said that moving to California was a huge leap.

    "I always loved technology growing up," Pichai said in a 2014 interview at Delhi University. "I used to read about what was happening in Silicon Valley, and I wanted to be a part of it."

    When Pichai got to America in 1993, he couldn't believe how expensive everything was.
    Sundar Pichai and wife Anjali Pichai
    Sundar and Anjali Pichai married after moving to the US, and now have two children together.

    Josh Edelson/AFP via Getty Images

    He "was in an absolute state of shock" about the price of a backpack — $60 — he told Bloomberg.

    He also missed his girlfriend, Anjali. The two eventually married and now have a son, Kiran, and daughter, Kavya.

    Before Google, he had stints at semiconductor manufacturer Applied Materials and consulting firm McKinsey.

    Pichai had his first interview at Google on April Fools' Day in 2004 — the same day it launched Gmail.
    Google CEO Sundar Pichai stands in front a series of screens showing the logo for Google's Chrome web browser.
    Pichai helped convince Google execs to create Google Chrome — now the world's most popular browser.

    Stephen Lam/Reuters

    Pichai has said he initially thought the free email service Gmail was one of Google's famous pranks.

    Pichai got his start working as a VP of product management, focused on Google's Toolbar, a web-search feature on Internet Explorer and Firefox.

    One of his early achievements: convincing Google founders Larry Page and Sergey Brin that Google should build its own web browser.

    In 2006, Microsoft created a "doomsday" scenario for Google by making Bing the new default search engine on Internet Explorer. To mitigate the effect of this change, Pichai helped convince Google execs to create its own browser, Google Chrome.

    Chrome is now the world's most popular browser.

    As a leader at Google, Pichai was known to be well-liked and focused on results, which resulted in more responsibility.
    Google CEO Sundar Pichai stands in front of a black backdrop featuring the green Android logo.
    Pichai is known for bringing a "substance over overt style" attitude to Google.

    Elijah Nouvelage/Reuters

    Pichai's "substance over overt style" approach was, in part, what led to Pichai taking over the Android division in 2013.

    He spearheaded Android One, Google's push to "make high-quality smartphones accessible to as many people as possible," and was also instrumental in ensuring Android was better integrated with Google.

    Pichai was also behind Chrome OS, the operating system that powers Google's inexpensive Chromebook laptops, and was reportedly instrumental in helping put together Google's $3.2 billion acquisition of Nest in 2014. 

    His success garnered attention, and he was reportedly approached for a leadership role at Twitter.

    When Pichai turned down Twitter, he was rewarded for his allegiance, getting $50 million and a promotion.

    As he rose through the ranks, Pichai became the right-hand man of Google cofounder and former CEO Larry Page.

    "He's like the Aaron to Larry's Moses," a source told Business Insider in 2014, referring to the biblical prophet's brother.

    That relationship and his success led to Pichai's next important promotion in late 2014 when Page put him in charge of the company's core products.

    After proving himself with Chrome and Android, Pichai added Google+, Maps, Search, commerce and ads, and infrastructure to his portfolio. The move cemented Pichai's move as Page's second-in-command.

    "Sundar has a tremendous ability to see what's ahead and mobilize teams around the super important stuff," Page wrote in a memo announcing Pichai's promotion. "We very much see eye-to-eye when it comes to product, which makes him the perfect fit for this role."

    Less than a year later, he was named CEO of Google.
    Google CEO Sundar Pichai gives a speech while standing in front of a white wall with a white Google logo, next to a screen.
    Pichai, who became CEO of Google in 2015, is well-liked among the company's employees.

    AP

    When Alphabet was established as Google's parent company in 2015, Pichai was made CEO at Google, which encompassed search, YouTube, and Android.

    As his power grew, Pichai remained well-liked.

    "He is literally worshipped inside Google. Engineers love him. Product Managers love him. Business people love him," one Googler wrote on Quora around that time.

    In July 2017, Pichai was named to Alphabet's board of directors.

    "Sundar has been doing a great job as Google's CEO, driving strong growth, partnerships, and tremendous product innovation. I really enjoy working with him, and I'm excited that he is joining the Alphabet board," Page said at the time.

    Two years later came his final promotion at the company. Alphabet's CEO, Page, and president, Sergey Brin, announced that they were stepping down, and Pichai would become Alphabet's CEO.

    Page and Brin cofounded Google in 1998. They announced the change in a letter saying that Alphabet and Google "no longer need two CEOs and a President."

    Pichai is well-compensated for his work.

    Google reported in April 2023 that Pichai earned a total of $226 million in 2022, mostly in stock awards, making him one of America's best-paid CEOs.

     

    But the top job at Alphabet also comes with increased public and internal scrutiny.
    Google CEO Sundar Pichai sits at a table while testifying to Congress, while an audience sits behind him to watch.
    Pichai has testified in front of the US government multiple times.

    Alex Wong/Getty Images

    In 2018, the House Judiciary Committee grilled the CEO about Google's data privacy practices and plans with China.

    Two years later, Pichai testified in front of Congress again over antitrust concerns. Two other major Google lawsuits were later filed by the US government over its alleged monopoly tactics.

    Google has also dealt with internal turmoil after letting go of one of its top AI ethicists.

    In December 2020, Google fired Timnit Gebru. Her exit came weeks after she was asked to retract a paper on the dangers of large language models and spoke out against the company's treatment of minority employees. 

    Google employees were "seriously pissed" over how the firing was handled, one told BI at the time, and Gebru said that Pichai and other managers helped create "hostile work environments."

    Pichai eventually apologized for how the company dealt with it.

    "I want to say how sorry I am for that, and I accept the responsibility of working to restore your trust," he wrote.

    Also in 2020, Pichai was at the forefront of Google's response to the COVID-19 pandemic. Under his leadership, Google launched initiatives to help search users find accurate, useful information about the coronavirus. 

    And like many large tech companies, Alphabet recruited rapidly at the start of the pandemic. Alphabet hired nearly 37,000 new workers in the 12 months leading up to October 2022.

    But from late 2022, Pichai had to oversee an era of cost-cutting at the company.

    That culminated in job losses in January 2023, when Google layoffs affected 12,000 employees or 6% of its global workforce. Pichai said he took "full responsibility for the decisions that led us here."

    Over 1,400 Google employees wrote an open letter to Pichai about how the layoffs were handled. 

    "Don't be evil," it read, a reference to the company's original motto.

    Googlers also criticized Pichai's big payday in the face of the job cuts, accusing him of "destroying morale and culture" at Google.

    Google also laid off hundreds more workers in its central engineering division and hardware team in early 2024.

    Pichai has also had to deal with European regulatory issues. French regulators hit Google with a roughly $270 million fine in March 2024, accusing the company of using news outlet articles to train its Gemini AI model.

    Pichai has also pushed Google forward in the AI arms race that's preoccupying Silicon Valley.
    A smartphone displays the ChatGPT logo in front of a pink and purple backdrop featuring the OpenAI logo.
    In 2016, Pichai said that Google will one day become an "AI-first" company.

    Getty Images

    Google issued a "code red" in December 2022 after the launch of OpenAI's ChatGPT sparked concerns about the future of its search engine and whether chatbots might replace it. Pichai redirected resources to focus on building Google's AI products.

    It wasn't the first time Pichai expressed interest in the technology, though. In 2016, Pichai announced that Google would be an "AI-first" company. Two years later, he said it's "one of the most important things that humanity is working on" and "more profound" than "electricity or fire."

    Google's AI efforts have resulted in its own chatbot.

    In February 2023, Google demoed the AI chatbot Bard for the first time. But the demo, which included the bot making a factual error, wasn't massively well-received internally and was called "rushed, botched, myopic" by one employee. Google made Bard available to the public over a month later.

    In December 2023, Google's Gemini launched. Gemini is a multimodal AI model that can process images, text, audio, video, and coding languages. And in February 2024, the company merged the two, saying:

    "Our mission with Bard has always been to give you direct access to our AI models, and Gemini represents our most capable family of models. To reflect this, Bard will now simply be known as Gemini."

    Pichai has also shifted Google's focus to integrating AI into its other products.

    At the 2023 Google I/O conference, the CEO announced that Google would add AI features across Google Workspace, including in Search, Gmail, Docs, and other products.

    Still, Gemini has had issues. In 2024, Google had to suspend its image generator after people complained that the model produced historically inaccurate photos of US presidents.

    Pichai later sent a memo to employees acknowledging the AI controversy. 

    "I know that some of its responses have offended our users and shown bias — to be clear, that's completely unacceptable, and we got it wrong."

    The problems led to a growing chorus of voices calling for Pichai to step down from his leadership role. 

    When Pichai isn't spending his time leading Google, the CEO meets with influential world leaders.
    Two side-by-side portraits show Google CEO Sundar Pichai on the left, and Canadian Prime Minister Justin Trudeau on the right.
    Pichai met with Canada's Prime Minister Justin Trudeau during the 2022 CEO Summit of the Americas.

    Jose Luis Magana/AP; Pavel Golovkin/AP

    In early June 2022, Pichai attended the CEO Summit of the Americas — hosted by the US Chamber of Commerce and the US Department of State — where business leaders from private sectors across countries in North, South, and Central America, as well as the Caribbean, come together in Los Angeles to discuss how they can work together to stimulate economic growth in their countries.

    During the three-day summit, Pichai met with Justin Trudeau, the Prime Minister of Canada, to discuss Google's investments in Canada and how the company can work with the government to spur innovation in the country.

    The Alphabet CEO also announced his $1.2 billion commitment to Latin America. 

    While Pichai is quite private, he is known to start his day with a cup of tea and an omelet — plus a copy of The Wall Street Journal.

    "I read the physical paper every single morning," he told Recode in 2016, adding that he reads The New York Times online.

    The Pichai's morning routine also includes scrolling through TechMeme, a niche tech news website that aggregates the latest stories in tech published by media outlets. 

    Although he's private, Pichai has spoken out about certain causes since he became a public figure.

    In 2015, he responded to then-presidential candidate Donald Trump's suggestion that Muslims be barred from immigrating to the US.

    "Let's not let fear defeat our values. We must support Muslim and other minority communities in the US and around the world," he wrote.

    In his home country, Pichai is seen as something of a hero.
    Google CEO Sundar Pichai smiles as he sits on a stage with interviewer Harsha Bhogle, in front of an audience in India.
    Pichai pledged $10 billion to India's tech sector in 2020.

    Saumya Khandelwal/Hindustan Times via Getty Images

    "You are what they would like to be, an Indian who studied here, went overseas, and did what everyone would dream of doing," interviewer Harsha Bhogle said in a conversation with Pichai for students at Delhi University.

    In 2020, Pichai announced that Google would invest $10 billion into India's tech sector over the next five to seven years to make the internet "affordable and useful" to everyone living in the country.

    Read the original article on Business Insider