BOARD CERTIFICATION EXAM STUDY GUIDES Lower Extremity Trauma
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Posted on June 2, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
BREAKING NEWS
By Staff Reporters
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Stanley Fischer, one of the most influential economists of recent decades, has died. He was 81. His death was confirmed by the WSJ and Bank of Israel, where he served as governor from 2005 to 2013.
Fischer served as vice chairman of the Federal Reserve from 2014 to 2017. He left his biggest mark in prior decades, as professor of economics at the Massachusetts Institute of Technology, second in command at the International Monetary Fund, and at the Bank of Israel. In those roles, Fischer helped shape how an entire generation of central bankers and economic policymakers do their jobs.
Fischer was born in 1943 in Northern Rhodesia (now the independent country of Zambia) and first came to the U.S. in 1966 to get a Ph.D. at MIT.
After several years at the University of Chicago, he joined the faculty of MIT.
According to wikipedia, the S&P 500 Dividend Aristocrats is a stock market index composed of the companies in the S&P 500 index that have increased their dividends in each of the past 25 consecutive years. It was launched in May 2005.
There are other indexes of dividend aristocrats that vary with respect to market cap and minimum duration of consecutive yearly dividend increases. Components are added when they reach the 25-year threshold and are removed when they fail to increase their dividend during a calendar year or are removed from the S&P 500. However, a study found that the stock performance of companies improves after they are removed from the index The index has been recommended as an alternative to bonds for investors looking to generate income.
To invest in the index, there are several exchange traded funds (ETFs), which seek to replicate the performance of the index.
A donor-advised fund is a private account created to manage and distribute charitable donations on behalf of an organization, family, or individual. Donor-advised funds can democratize philanthropy by aggregating the contributions of multiple donors, thus multiplying their impact on worthy causes. Donor-advised funds also have abundant tax advantages.
Donor-advised funds have become increasingly popular, as they offer the donor greater ease of administration while still allowing them to maintain significant control over the placement and distribution of charitable gifts. But, unlike private foundations, donor-advised fund holders enjoy a federal income tax deduction of up to 60% of adjusted gross income (AGI) for cash contributions and up to 30% of AGI for the appreciated securities they donate. Donors to these funds can contribute cash, stock shares, and other assets. When they transfer assets such as limited-partnership interests, they can avoid capital gains taxes and receive immediate fair market value tax deductions.
According to the National Philanthropic Trust’s 2023 Donor-Advised Fund Report, these funds have continued to grow in recent years, despite some headwinds including the Covid-19 pandemic and occasional stock market setbacks. Total grants awarded by donor-advised funds in 2022 increased by 9% to $52.16 billion, while total contributions rose by 9% to $85.5 billion.
Many donor-advised funds accept non-cash assets—such as checks, wire transfers, and cash positions from a brokerage account—in addition to cash and cash equivalents.
Donating non-cash assets may be more beneficial for individuals and businesses, leading to bigger tax bigger write-offs.
SPEAKING: Dr. Marcinko will be speaking and lecturing, signing and opining, teaching and preaching, storming and performing at many locations throughout the USA this year! His tour of witty and serious pontifications may be scheduled on a planned or ad-hoc basis; for public or private meetings and gatherings; formally, informally, or over lunch or dinner. All medical societies, financial advisory firms or Broker-Dealers are encouraged to submit a RFP for speaking engagements: MarcinkoAdvisors@outlook.com
Posted on May 31, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
By AI
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What Is a SAFE Note?
A SAFE note is a type of convertible security that specifies a certain amount of money an investor will pay you as a business owner. In exchange, you agree to give the investor a certain amount of equity in your company at an agreed-upon future date. In other words, a SAFE note confers the right for an investor to purchase shares in your company in a future-priced round.
How SAFE Notes Work
According to ContractsCounsel, a SAFE note works in the following way:
An investor provides funding in exchange for the right to future equity.
You use the funding to grow your business.
After your company grows sufficiently, you secure another investor, and your company receives a “post-money valuation.”
You calculate your company’s price per share.
You convert the SAFE note into the applicable number of shares and distribute them to the SAFE investor. Typically, a SAFE note converts after an equity financing round.
Example of a SAFE Note
An investor purchases a SAFE note with a valuation cap of $20 million. During the next funding round, the value of your company is set at $40 million at $20 a share. Because the SAFE note has a valuation cap of $20 million, its owner can purchase twice as many shares of your company as new investors can. This was the incentive for the SAFE investor to provide funding earlier.
Within venture capital financing, a convertible note is a type of short-term debt financing that’s used in early-stage capital raises. In other words, convertible notes are loans to early-stage startups from investors who are expecting to be paid back when their note comes due. But, instead of being paid back in principal with interest—as would be the case with a typical loan—the investor can be repaid in equity in your company.
You might also think of a convertible note like an IOU. An investor provides you with capital now and the convertible note, acting as a short-term loan, ensures that you give the investor a stake in your startup later. From the investor’s point of view, the benefit in this exchange is that if they give you capital and a vote of confidence early on and you do well, you’ll repay them many times over.
How Do Convertible Notes Work?
Typically, an investor will provide an early-stage startup in need of capital with a loan (with repayment terms in the ballpark of a standard short-term loan, usually a year or two), along with repayment terms. This is the “note.” The note will include a due date at which time it’s mature and the balance will be due, along with interest. Generally, however, the note is not repaid like a normal short-term loan. Instead, you repay the investor for their loan with equity in your company, usually in conjunction with another funding round.
If, however, the maturity date comes along and your startup has not yet converted the note to equity, the investor can either extend the convertible note’s maturity date or call for the actual repayment of the note.
This being said, the whole idea behind convertible notes is that your company is on a strong growth trajectory and that is why the note is being issued—it amasses value for the investor and beelines to a priced round. Ultimately, the point of a convertible note is that the noteholder, or investor, doesn’t want to get their loan paid back— they want their debt to convert into a heavily discounted security in a successful, valuable company that’s growing extremely quickly.
Cons: The major downside of a convertible note is that you will eventually be giving up some control over your business. When the convertible note comes due, the investor will be granted equity in your business. If you’re not ready to split ownership of your business with outside parties, this is not the right financing option for you.
Posted on May 31, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
The median homeprice jumped 1.6% YoY last month and is sitting at $431,931. Meanwhile, mortgage rates for a 30-year fixed loan (the most common) are still hovering just under 7%. The chief economist of the National Association of Realtors said lower mortgage rates are the key to getting buyers to buy homes again.
UltaBeauty is sitting pretty, up 11.78% after the cosmetics retailer crushed earnings expectations and raised its fiscal guidance for the year ahead.
CostcoWholesale rose 3.12% after beating Wall Street’s earnings expectations, though same-store sales did slip a bit.
Zscaler climbed 9.79% on strong earnings for the cybersecurity company, including 23% revenue growth.
Palantir popped 7.73% on a report from the New York Times that the Trump administration has asked the company to help the government compile data on US citizens.
What’s down
Nvidia slipped 2.92% as rhetoric between the US and China over semiconductor import restrictions reignited investor fears.
Gap plunged 20.18% after the retailer revealed that tariffs will cost between $100 and $150 million.
RegeneronPharmaceuticals tumbled 19.01% thanks to mixed results for its new respiratory drug in late stage trials. The medication is made in partnership with Sanofi, which also dropped 5.61%.
DellTechnologies sank 2.08% after missing earnings expectations last quarter, though it did manage to beat on revenue.
PagerDuty, which is in fact a cloud computing company and not a seller of 1990s tech, lost 11.43% after issuing lower second-quarter guidance than Wall Street forecast.
Posted on May 30, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
UnitedHealth Group improperly uses workers’ funds to reduce its own 401(k) contributions, according to a lawsuit against the nation’s largest health insurer that is seeking class-action status. The company denies the claims. It’s just one in a string of lawsuits facing the beleaguered company.
Boeing climbed 3.32% after CEO Kelly Ortberg laid out his turnaround plan for the struggling aircraft manufacturer, including ramping up production of its 737 Max.
C3.ai exploded 20.76% higher thanks to a smaller-than-expected loss last quarter and strong revenue growth for the enterprise AI company.
VeevaSystems soared 18.74% after the cloud computing company beat Wall Street estimates on both the top and bottom lines.
E.l.f. Beauty popped 23.58% thanks to better-than-expected earnings, as well as the news that it will acquire Haley Bieber’s beauty brand Rhode for up to $1 billion.
Moderna rose 3.38% despite the Trump administration pulling $766 million in funding for a new bird flu vaccine.
Li Auto climbed 2.11% after beating first-quarter forecasts, though the Chinese EV company issued disappointing guidance.
What’s down
Salesforce posted a beat-and-raise earnings report, but it wasn’t good enough for shareholders, and the software giant sank 3.30%.
HP reported solid revenue last quarter, but missed on profits and issued worse-than-expected guidance for the coming year, pushing shares down 8.27%
Kohl’s fell 0.74% after posting solid sales and a smaller-than-anticipated earnings loss.
Best Buy tumbled 7.27% after beating earnings estimates but missing on revenue and warning that it’s cutting its fiscal forecast and likely raising prices.
SentinelOne fell 11.59% after the cybersecurity company missed revenue estimates and issued a lower sales forecast than Wall Street wanted to see.
Life planning and behavioral finance as proposed for physicians and integrated by the Institute of Medical Business Advisors Inc., is unique in that it emanates from a holistic union of personal financial planning, human physiology and medical practice management, solely for the healthcare space. Unlike pure life planning, pure financial planning, or pure management theory, it is both a quantitative and qualitative “hard and soft” science, with an ambitious economic, psychological and managerial niche value proposition never before proposed and codified, while still representing an evolving philosophy. Its’ first-mover practitioners are called Certified Medical Planners™.
Financial Life Planning is an approach to financial planning that places the history, transitions, goals, and principles of the client at the center of the planning process. For the financial advisor or planner, the life of the client becomes the axis around which financial planning develops and evolves.
Financial Life Planning is about coming to the right answers by asking the right questions. This involves broadening the conversation beyond investment selection and asset management to exploring life issues as they relate to money.
Financial Life Planning is a process that helps advisors move their practice from financial transaction thinking, to life transition thinking. The first step is aimed to help clients “see” the connection between their financial lives and the challenges and opportunities inherent in each life transition.
But, for informed physicians, life planning’s quasi-professional and informal approach to the largely isolate disciplines of financial planning and medical practice management is inadequate. Today’s practice environment is incredibly complex, as compressed economic stress from HMOs managed care, financial insecurity from insurance companies, ACOs and VBC, Washington DC and Wall Street; liability fears from attorneys, criminal scrutiny from government agencies, and IT mischief from malicious electronic medical record [eMR] hackers. And economic bench marking from hospital employers; lost confidence from patients; and the Patient Protection and Affordable Care Act [PP-ACA] more than a decade ago. All promote “burnout” and converge to inspire a robust new financial planning approach for physicians and most all medical professionals.
The iMBA Inc., approach to financial planning, as championed by the Certified Medical Planner™ professional certification designation program, integrates the traditional concepts of financial life planning, with the increasing complex business concepts of medical practice management. The former topics are presented in this textbook, the later in our recent companion text: The Business of Medical Practice [Transformational Health 2.0 Skills for Doctors].
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For example, views of medical practice, personal lifestyle, investing and retirement, both what they are and how they may look in the future, are rapidly changing as the retail mentality of medicine is replaced with a wholesale and governmental philosophy. Or, how views on maximizing current practice income might be more profitably sacrificed for the potential of greater wealth upon eventual practice sale and disposition.
Or, how the ultimate fear represented by Yale University economist Robert J. Shiller, in The New Financial Order: Risk in the 21st Century, warns that the risk for choosing the wrong profession or specialty, might render physicians obsolete by technological changes, managed care systems or fiscally unsound demographics. OR, if a medical degree is even needed for future physicians?
Say, what medical license?
Dr. Shirley Svorny, chair of the economics department at California State University, Northridge, holds a PhD in economics from UCLA. She is an expert on the regulation of health care professionals who participated in health policy summits organized by Cato and the Texas Public Policy Foundation. She argues that medical licensure not only fails to protect patients from incompetent physicians, but, by raising barriers to entry, makes health care more expensive and less accessible. Institutional oversight and a sophisticated network of private accrediting and certification organizations, all motivated by the need to protect reputations and avoid legal liability, offer whatever consumer protections exist today.
Yet, the opportunity to revise the future at any age through personal re-engineering, exists for all of us, and allows a joint exploration of the meaning and purpose in life. To allow this deeper and more realistic approach, the informed transformation advisor and the doctor client, must build relationships based on trust, greater self-knowledge and true medical business management and personal financial planning acumen.
[A] The iMBA Philosophy
As you read this ME-P website, we hope you will embrace the opportunity to receive the focused and best thinking of some very smart people. Hopefully, along the way you will self-saturate with concrete information that proves valuable in your own medical practice and personal money journey. Maybe, you will even learn something that is so valuable and so powerful, that future reflection will reveal it to be of critical importance to your life. The contributing authors certainly hope so.
At the Institute of Medical Business Advisors, and thru the Certified Medical Planner™ program, we suggest that such an epiphany can be realized only if you have extraordinary clarity regarding your personal, economic and [financial advisory or medical] practice goals, your money, and your relationship with it. Money is, after only, no more or less than what we make of it.
Ultimately, your relationship with it, and to others, is the most important component of how well it will serve you.
SPEAKING: Dr. Marcinko will be speaking and lecturing, signing and opining, teaching and preaching, storming and performing at many locations throughout the USA this year! His tour of witty and serious pontifications may be scheduled on a planned or ad-hoc basis; for public or private meetings and gatherings; formally, informally, or over lunch or dinner. All medical societies, financial advisory firms or Broker-Dealers are encouraged to submit a RFP for speaking engagements: CONTACT: MarcinkoAdvisors@outlook.com
Posted on May 29, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
Vail Resorts soared 8.84% on the news that it’s bringing back former CEO Rob Katz to turn the company around.
Dick’s Sporting Goods climbed 1.66% thanks to solid earnings, and the retailer also impressed by keeping fiscal guidance intact.
Box jumped 17.23% after the cloud storage company beat earnings estimates and raised its forecast for the coming quarter and full year.
Joby Aviation soared 28.78% after the air taxi startup secured a $250 million investment from Toyota.
What’s down
US chip designers sank on reports that the White House has ordered them to stop selling to clients in China. Cadence Design Systems tumbled 10.67%, while Synopsys lost 9.64%
Okta tumbled 16.16% despite the identity management software company posting solid earnings and standing by its fiscal guidance for the year.
Macy’s fell 0.50% despite beating Wall Street estimates across the board, though it did cut its profit outlook for the year.
Automaker Stellantis dropped 3.15% after revealing veteran exec Antonio Filosa will become the new head of Jeep’s parent company.
Freshpet fell 3.97% on a downgrade from TD Cowen analysts, who think the company’s refrigerated pet food concept doesn’t have much growth potential.
Semtech stumbled 4.56% even though the semiconductor supplier beat earnings estimates and raised its fiscal forecast.
BostonScientific sank 1.56% after it decided to discontinue its artificial heart valve system due to regulatory feedback.
Chevron fell 1.31% a day after the US government declared that it can no longer produce oil in Venezuela.
Posted on May 28, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
Bonds breathed a sigh of relief after 30-year Treasury yields fell back below 5% as Japanese central bankers took precautionary measures to shore up their finances.
Gold tumbled as investors continue to throw money at risk assets, while bitcoin maintained its recent gains.
CoreWeave can’t stop, won’t stop: The AI hyperscaler was downgraded by Barclays analysts, who think its near-term upside is limited, but shares still rose 20.66%.
VF Corp., the parent company of The North Face, JanSport, etc, rose 12.92% after disclosing that members of its C-suite splurged on the stock.
SoundhoundAI is a retail trader favorite, and now Piper Sandler analysts like it,too: The AI voice platform jumped 16.05% on an upgrade.
Southwest gained 5.53% on reports that the airline is rolling out $35 baggage fees beginning tomorrow.
Movie theater stocks popped on a record-breaking Memorial Day weekend at the box office: AMC soared 23.77%, Cinemark climbed 3.82%, and MarcusCorp. gained 10.12%.
What’s down
PDD Holdings plunged 13.64% after the Chinese e-commerce retailer reported a hefty 47% decline in profits last quarter.
Trump Media & Technology Group tumbled 10.38% after the company announced it’s raising $2.5 billion to buy bitcoin.
ChampionHomes sank 16.39% after the homebuilder missed Wall Street expectations last quarter by a mile.
RocketPharmaceuticals dropped 62.84% after the biotech reported that a patient participating in a gene therapy trial died over the weekend.
Posted on May 27, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
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Stock markets are coming off their worst week since April as President Trump’s tariff threats on Europe and Apple revived trade war jitters. The president has since delayed tariff threats on the EU, giving European stocks a boost yesterday, while Wall Street had the day off for Memorial Day.
No such relief appears to be coming for Apple, which has fallen 8% so far this month, and is the only Magnificent Seven member in the red for May, per FactSet.
Most individual physician portfolios are simply a list of stocks. Doctors with such lists usually know the cost of each position and when they acquired it. It is not unusual to find inherited low cost stocks in the account that have been held for many years.
When you inherit securities, a new cost basis is established (the price of the stock on the date of death or six months later—the executor of the estate makes this determination). Even though there would be no capital gain liability if the stock were sold immediately after date of death, most people simply don’t do anything, just hold the stock. Of course taxes should be considered when selling securities but the investment merit should be the overriding factor.
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Doctor and Accountant Opinions
In a personal communication, Mr. L. Eddie Dutton, CPA said, “First make an investment decision and if it fits into the tax plan, so much the better. Doctors often wonder where they will get the money to pay the taxes. I say to get it from the sale of the appreciated stock and cry all the way to the bank with your profit.”
Dr. Ernest Duty MD, a very successful private investor advises “Ask yourself this question: If you had the money instead of the stock, would you buy the stock? If your answer is ‘Yes’ then, hold on to the stock but if you say ‘No, I wouldn’t buy that stock today’ then, sell it” [personal communication].
SPEAKING: Dr. Marcinko will be speaking and lecturing, signing and opining, teaching and preaching, storming and performing at many locations throughout the USA this year! His tour of witty and serious pontifications may be scheduled on a planned or ad-hoc basis; for public or private meetings and gatherings; formally, informally, or over lunch or dinner. All medical societies, financial advisory firms or Broker-Dealers are encouraged to submit a RFP for speaking engagements: E-MAILCONTACT: MarcinkoAdvisors@outlook.com
If you stash $100,000 in cash under your mattress in three decades, you might not have lost a single dollar, but the value of your money has undoubtedly gone down over time.
Because of inflation, each dollar will buy you less and less over time—your purchasing power decreases. In this sense, time is cruel to the value of money and today’s dollar is worth more than tomorrow’s.
Example: A young physician investor can invest less money over a longer period of time than an older investor who invests more money over a shorter period and ends up with more in the end. Compounding returns grow exponentially, making time more than an ally – but a force of the universe driving growth. Time is certainly our ally in investing, but you’ll kick yourself wishing you had invested earlier when you witness compounding after a few years (or a decade).
Giving circles support with their dollars, but also build awareness, volunteer, become board members and more. Individuals multiply their impact and knowledge, have fun, and connect with their local community.
People are coming together around the world to create the change they want to see in the world. Giving circles are a growing global movement with more than 2,500 active circles around the world giving intentionally and thoughtfully.
Posted on May 25, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters and AI
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What is a cashier’s check?
Unlike a personal check, a cashier’s check is guaranteed by a bank, drawn from the bank’s own funds, and signed by a bank representative. It’s typically used for large or important transactions, such as buying a car or making a down payment on a home, because it offers more security to the recipient than a personal check.
Traditionally, bank customers obtain a cashier’s check by visiting a bank or credit union in person. There’s usually no limit on the amount of the cashier’s check as long as you have the money to cover it. You and the bank or credit union representative sign the check, and the money is withdrawn from the financial institution’s funds when the check is cashed. However, some online banks may allow you to order a cashier’s check online or over the phone.
If you need a cashier’s check the same day and your bank doesn’t have physical branches, a credit union in your area might issue cashier’s checks even if you’re not a customer. Otherwise, consider signing up with a bank or credit union with physical branches in your area.
There is typically a fee to get a cashier’s check, though the amount isn’t significant. Often, you’ll pay less than $20 even for cashier’s checks of several thousand dollars. The relatively low fees for cashier’s checks and guarantee of funds make them useful when making large, important transactions.
A money order is another paper payment method similar to a check. You pay the amount up front (usually in cash or debit), plus a small fee, and the issuer prints a money order that can be filled out to a specific recipient. Because the payment is prepaid, money orders are considered a safe alternative to personal checks, especially for smaller transactions or when sending money through the mail.
Money orders are available at many banks and credit unions as well as some retailers, grocery stores, and post offices. Domestic money orders can’t exceed $1,000, so they aren’t suitable for large transactions. However, while there is a limit on the amount of each money order, you can purchase multiple money orders to pay for more than one expense.
Money orders also have relatively low fees. For example, the United States Postal Service (USPS) charges $2.35 for money orders of $0.01 to $500.00, and $3.40 for money orders between $500.01 and $1,000.00
Which payment method is safer: cashier’s check vs. money order?
Cashier’s checks and money orders are both relatively safe forms of payment — both ensure the payment will not bounce.
However, cashier’s checks are generally safer due to the process financial institutions follow. Cashier’s checks are backed by a bank’s own funds, not your personal account, and are signed by a bank employee — making them harder to counterfeit and more trusted by recipients. The payee must also provide a photo ID when cashing the check, so only the person the financial institution specifies can access the money.
Money orders are paid from your personal bank account funds. They can be easier to forge, especially the ones purchased at retail outlets rather than banks.
That said, both are safer than personal checks or mailing cash, and both can be tracked if lost. But for high-value purchases, a cashier’s check is the more secure option.
Posted on May 24, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
Medicare may soon be able to reimburse physicians for using artificial intelligence-based medical devices, thanks to a bipartisan bill recently introduced to Congress. The bill, called the Health Tech Investment Act, would set up a payment system for devices that use AI or machine learning, which the bill’s cosponsors say would encourage providers to use the technology in clinical settings and help improve diagnoses.
Stock markets were down in trading on Friday after President Donald Trump said he wanted to impose a 50-percent tariff on the European Union and a new 25-percent tariff on iPhone maker Apple.
The S&P 500 was down around 0.8 percent, the NASDAQ Composite down 1.0 percent, and the Dow Jones Industrial Average of 0.6 percent.
An investment advisor (sometimes spelled “investment adviser”) is defined as a company or person who has a government registration allowing them to choose, manage and recommend investments for clients. Investment advisors are also sometimes referred to as stock brokers. They are not fiduciaries.
Unlike other financial advisors who may not be regulated, investment advisors are regulated by their state or the Securities Exchange Commission depending on how much money they manage. Investment advisors may also offer services like retirement planning.
COMMENTS APPRECIATED
The Medical Executive-Post is a news and information aggregator and social media professional network for medical and financial service professionals. Feel free to submit education content to the site as well as links, text posts, images, opinions and videos which are then voted up or down by other members. Comments and dialog are especially welcomed. Daily posts are organized by subject. ME-P administrators moderate the activity. Moderation may also conducted by community-specific moderators who are unpaid volunteers.
A hedge fund is a limited partnership of private investors whose money is pooled and managed by professional fund managers. These managers use a wide range of strategies, including leverage (borrowed money) and the trading of nontraditional assets, to earn above-average investment returns. A hedge fund investment is often considered a risky, alternative investment choice and usually requires a high minimum investment or net worth. Hedge funds typically target wealthy investors.
I want to invest with a manager that has the skills to “hedge” a portfolio, but I do not wish to mix my money with other investors as in a hedge fund.
QUESTION:Can I hire hedge fund managers to manage my account separately?
Some hedge fund managers do take the time to recruit and manage separate accounts, with or without the help of referring brokers.
However, before long the administrative burden of managing so many separate accounts can become quite significant. Hence, the minimums for such separate accounts are generally much higher than if one were to invest in the manager’s hedge fund.
The best feature of these separate accounts is that potentially every aspect of the investment account, including fees, is negotiable. Other features include greater transparency and increased liquidity, since separately managed accounts can often be shut down on short notice.
Investors must be aware, however, that for practical purposes the portfolio manager generally will buy and sell the same securities in the separately managed accounts that the portfolio manager buys and sells in the hedge fund, yet the expenses incurred by the investor will likely be higher.
Posted on May 23, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
Stocks wavered throughout the day as the 10-year Treasury yield rose back above 4.5%, making a convincing argument for investors to buy risk-free bonds with big yields rather than equities.
Yields on both 20-year and 30-year Treasuries traded above 5% after the Republican tax and spending bill passed the House, raising fears of a bigger US deficit and lower creditworthiness in the years ahead.
Bitcoin continued to climb last night, hitting a new record high of $111,886.41 in the wee hours of the morning before losing some ground throughout the trading session today.
Nike gained 2.30% on the news that it will begin selling its shoes on Amazon for the first time since 2019.
Fannie Mae popped 46.73% and FreddieMac jumped 42.50% on President Trump’s comments that he’s seriously considering bringing the mortgage giants public.
Advance Auto Parts exploded 57.14% higher after better-than-feared earnings made it clear that its turnaround plan is working.
Urban Outfitters soared 22.84% after reporting EPS of $1.16 last quarter, far better than the $0.84 per share analysts had forecast.
Snowflake gained 13.47% thanks to a strong first quarter and management’s expectation that revenue will rise about 25% this quarter.
What’s down
Walmart lost 0.48% on the news that it will cut 1,500 jobs in a corporate restructuring.
Analog Devices fell 4.63% even though the semiconductor maker beat Wall Street estimates on both sales and profits last quarter.
Health insurance stocks took a hit on reports that the US government will conduct “aggressive” Medicare Advantage audits. Humana sank 7.58%, UnitedHealthGroup fell 2.08%, and CVSHealth dropped 3.06%.
Posted on May 22, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
While stocks usually steal headlines, all eyes were on the bond market today. The 10-year bond yield popped back above 4.5% first thing this morning while the 30-year rose above 5% as fears of larger deficits due to the Republican tax and spending bill gave investors pause. A poorly received auction of $16 billion in 20-year bonds this afternoon only pushed yields higher.
Bitcoin climbed to a new all-time high early in the trading session, touching $109,500 at one point today as investors continue to search for alternatives to bonds and the US dollar.
Crude oil climbed to its highest price in a month on reports of flaring tensions between Israel and Iran, then tumbled lower after the US announced surprisingly high oil inventories.
WeRide soared 21.42% on the announcement that the robotaxi will buy back $100 million of its stock.
What’s down
UnitedHealth Group secretly paid nursing homes to transfer fewer people to hospitals so it could cut costs, according to The Guardian. Shares understandably tumbled 5.79%.
Target missed the mark last quarter, with fewer transactions thanks to DEI boycotts leading to lower sales and profits, pushing shares down 5.21%.
Lowe’s sank 1.77% despite sticking to its full-year guidance, noting that sales to professionals will pad its bottom line.
Palo Alto Network may have beaten analysts’ estimates for sales and profits, but the cybersecurity company still fell 6.80% due to thinner margins.
Take-Two Interactive sank 4.52% after the video game maker put $1 billion in common stock on the market.
Fair Isaac caught strays today from a Trump Administration official who was displeased by the credit analytics company’s decision to raise royalty fees.
Carter’s crashed 15.74% on the announcement that the children’s clothing retailer will slash its dividend due to higher costs from tariffs.
Airline stocks tumbled after the FAA limited flights in and out of Newark Airport. UnitedAirlines fell 3.93%, SouthwestAirlines lost 2.35%, and AmericanAirlines sank 3.52%.
Wolfspeed, easily the best-named stock on the market, may go bankrupt. Shares of the semiconductor supplier dropped 59.11%.
Posted on May 21, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
DEFINED
By Staff Reporters
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Stocks ticked down yesterday, ending a six-day rally after some influential CEOs—including JPMorgan Chase’s Jamie Dimon—warned that markets have grown too complacent about tariffs and potential stagflation. But it was a spectacular day for Warby Parker, which climbed more than 15% after Google announced it’s partnering with the eyewear company on Google Glass (RIP) a new smart glasses device.
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Stagflation is the simultaneous appearance in an economy of slow growth, high unemployment, and rising prices.
Once thought by economists to be impossible, stagflation has occurred repeatedly in the developed world since the 1970s.
Policy solutions for slow growth tend to worsen inflation, and vice versa. That makes stagflation hard to fight.
Stagflation is the combination of high inflation, stagnant economic growth, and elevated unemployment.
The term stagflation, a blend of “stagnation” and “inflation,” was popularized by British politician Lain MacLeod in the 1960s, during a period of economic distress in the United Kingdom. It gained broader recognition in the 1970s after a series of global economic shocks, particularly the 1973 oil crisis, which disrupted supply chains and led to rising prices and slowing growth. Stagflation challenges traditional economic theories, which suggest that inflation and unemployment are inversely related, as depicted by the Phillips Curve.
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According to Wikipedia, stagflation presents a policy dilemma, as measures to curb inflation—such as tightening monetary policy—can exacerbate unemployment, while policies aimed at reducing unemployment may fuel inflation.
In economic theory, there are two main explanations for stagflation: supply shocks, such as a sharp increase in oil prices, and misguided government policies that hinder industrial output while expanding the money supply too rapidly.
NOTE: A portmanteau word or part of a word made by combining the spellings and meanings of two or more other words or word parts (such as smog from smoke and fog).
The stagflation of the 1970s led to a re-evaluation of Keynesian economic policies and contributed to the rise of alternative economic theories, including monetarism and supply-side economics.
Posted on May 21, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
The S&P 500 snapped a 6-day winning streak as the rally following the US & China tariff ceasefire faded and investors looked elsewhere for buying signals.
Federal Reserve speeches abound this week, with several central bankers warning of an economy under duress.
Both gold and bitcoin consolidated their recent gains, offering investors alternatives to suddenly not-so-safe bonds and a sagging US dollar.
Tesla climbed 0.51% after CEO Elon Musk committed to spending the next five years running the EV manufacturer.
Moderna popped 6.06% after the FDA announced new limits on Covid-19 vaccine approvals that were more lenient than expected.
Warby Parker soared 15.57% on news of a partnership with Google to create smart glasses.
Pony AI rose 5.74% after the Chinese auto maker posted impressive earnings and cited high demand for autonomous taxi rides.
Amer Sports surged 19.05% after the athletic equipment maker posted a strong beat-and-raise earnings announcement.
D-Wave Quantum soared 25.93% after the quantum computing company unveiled its newest computing system.
Levi Strauss & Co. rose 1.42% on the news that the jeans company is selling Dockers to Authentic Brands Group for $311 million.
What’s down
Home Depot fell just 0.61% after the home renovation retailer missed earnings estimates, beat revenue forecasts, kept its fiscal guidance intact, and said it won’t raise prices.
Airbnb tumbled 3.27% after Spain ordered the company to take down over 65,000 listings.
VikingHoldings sank 4.99% despite earnings and sales beating estimates, but investors didn’t like hearing that the the cruise line operator transported fewer passengers last quarter than expected.
AES lost 4.05% after the solar stock was downgraded by Jefferies analysts, who are worried about lower demand for renewable energy.
Posted on May 20, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Coinbase under investigation – Hit with ransom attack
Coinbase’s wild week got much wilder when the New York Times reported that the SEC has been looking into whether the crypto exchange misstated the size of its user base in securities filings. Per the New York Times, the investigation started under President Biden and has continued under President Trump.
The subject of the investigation appears to be Coinbase’s claim in past disclosures and marketing materials that it has 100 million “verified users.” A company spokesperson said it no longer reports that metric and the investigation should not continue.
The report came days after Coinbase joined the S&P 500, and just hours after it said it could lose $400 million following a recent hack by “rogue overseas” agents looking to steal customer data.
Posted on May 20, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
When S&P downgraded the US’ credit rating in August 2011, it sparked the worst one-day decline in US stocks since the Great Financial Crisis. Today was the first day of trading after Moody’s downgraded the US’ credit rating, and while stocks sank at the open, they recovered a lot of lost ground after investors decided to buy the dip.
The downgrade pushed yields on 30-year Treasury bonds above 5% at the open, while 10-year yields rose to 4.55% at one point. But yields on both notes fell throughout the afternoon as buyers crept back into the bond market.
Gold was the big winner today as investors sought safety, while the CBOE Volatility Index, or VIX, popped higher.
Investors largely shrugged at Nvidia’smany announcements today, including the ability for customers to use non-Nvidia chips in Nvidia products. Shares rose just 0.13%.
UnitedHealth Group posted a 8.18% gain as investors turned their attention to the suddenly cheap health insurance giant.
Novavax exploded 15.01% higher thanks to the FDA’s approval of its new Covid-19 vaccine.
TXNM Energy popped 6.98% to an all-time high on the announcement that Blackstone will acquire the power provider for $11.5 billion.
What’s down
Tesla tumbled 2.25% after Chinese tech giant Xiaomi announced it will debut its Yu7 sports utility vehicle, a clear Tesla challenger in a key market, on Thursday.
Walmart lost 0.12% after Treasury Secretary Scott Bessent met with company leadership to discuss how the retailer could “eat the tariffs.”
Bath & Body Works sank 0.56% after the retailer named former Nike exec Daniel Heaf as its new CEO effective immediately.
Reddit fell 4.63% due to a downgrade from Wells Fargo analysts who think the social media platform will lose search traffic to Google AI.
Diageo is down 0.69% after the maker of Johnnie Walker whiskey said it will take an annual tariff hit of $150 million.
Alibaba dropped 0.40% on a New York Times report that the Trump Administration is concerned with Apple’s plan to use Alibaba AI on its iPhones.
JPMorgan fell 1% as shareholders at the bank’s investment division grapple with CEO Jamie Dimon’s departure.
Solar stocks sank after the Republican tax and spending bill moved forward with a commitment to end clean energy tax credits earlier than planned. First Solar fell 7.59%, SunRun lost 7.84%, and AES lost 4.10%.
Posted on May 19, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
BREAKING NEWS [12:09 am, EST]
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Stock Futures are contracts to buy or sell a specific underlying asset at a future date. The underlying asset can be a commodity, a security, or other financial instrument. Futures trading requires the buyer to purchase or the seller to sell the underlying asset at the set price, whatever the market price, at the expiration date.
Stock futures pointed lower on Monday morning as investors weighed fresh warnings on U.S. debt and the potential for President Donald Trump’s trade war to heat up again.
Dow Futures: 42,406.00
Fair Value: 42,752.14
Change: – 330.000.77%
Implied Open: – 346.14
Late Friday night, Moody’s downgraded the U.S. credit rating one notch. This came as Congress tries to extend Trump’s tax cuts and add new ones, which are expected to deepen federal deficits.
S&P 500 surges 20% in Six Weeks as Stock Market Euphoria Returns to Wall Street
U.S. stock markets surged after an agreement between the Trump administration and China to lower tariffs.
The Dow Jones Industrial Average rose over 1,000 points, while the NASDAQ and S&P 500 gained nearly 600 and about 100 points, respectively last week. The improvement has erased recent losses from President Donald Trump’s tariffs.
The U.S. and China agreed to reduce tariffs on each other’s goods for an initial 90 days. The U.S. will lower tariffs on Chinese products from 145% to 30%, while China will cut its tariffs on American imports from 125% to 10%.
This unexpected breakthrough has eased tensions in their trade war and positively impacted global markets.
A hedge fund is a limited partnership of private investors whose money is pooled and managed by professional fund managers. These managers use a wide range of strategies, including leverage (borrowed money) and the trading of nontraditional assets, to earn above-average investment returns. A hedge fund investment is often considered a risky, alternative investment choice and usually requires a high minimum investment or net worth. Hedge funds typically target wealthy investors.
My medical practice has a small self-directed pension plan with profit sharing features.
QUESTION: Can my medical practice’s retirement plan invest in a hedge fund?
Such a pension fund falls under a category called self-directed “plan” assets.
Among the rules are that each participant in the plan counts toward the 100 investor maximum under which most hedge funds operate, that each plan participant be a fully accredited investor, and that the hedge fund keep investments such as pension plans and other funds covered under ERISA to less than 25 percent of total assets under management.
Posted on May 18, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
Capital One has agreed to pay $425 million to settle nationwide litigation accusing it of cheating savings account depositors out of much higher interest rates by not telling them they could move their money to higher-yielding accounts. A notice describing the preliminary settlement was filed on Friday evening in U.S. federal court in Alexandria, Virginia. The accord requires a judge’s approval.
The S&P 500 is just 3% below its record high set in mid-February, when President Donald Trump launched a trade war that began with Canada and Mexico. That puts the index around bull market territory and marks a stunning rebound from just a month ago as markets crashed after Trump unveiled his “Liberation Day” tariffs.
Stat: $159.4 million. That’s the total paid out to six CEOs at the country’s top payers in 2024. (Fierce Healthcare)
Quote: “They couldn’t make the economics work quickly. Changing the way Americans receive healthcare services just looks like a very long slog.”—Julie Utterback, senior equity analyst at investment research firm Morningstar, on big retail chain investments in clinical care (Modern Healthcare)
Read: Could California’s experiment with near-universal healthcare be nearing its end?(KFF Health News)
Visualize: How private equity tangled banks in a web of debt, from the Financial Times.
Posted on May 17, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
Arkansas just passed a first-if-its-kind law banning vertical integration between pharmacy benefit managers (PBMs) and pharmacies. Arkansas Governor Sarah Huckabee Sanders on April 16th signed a law prohibiting any company that owns a PBM from also owning or operating pharmacies in the state. The goal of the law is to eliminate “conflicts of interest” that lead to higher drug prices and care delays, according to a press release.
Nvidia climbed 0.42% on reports that the US and United Arab Emirates are nearing a deal that would allow the UAE to import 500,000 chips per year. But shares lost some ground after the company denied reports that it will build a new R&D center in Shanghai.
Galaxy Digital made its long-awaited debut on the Nasdaq today, with the crypto/data center company climbing 4.06%. The company is reportedly in conversation with the SEC to tokenize its stock.
Virgin Galactic rocketed 43.28% higher on the space tourism company’s announcement that it will restart commercial spaceflights.
Coinbase climbed 9.01% after Oppenheimer analysts said the market’s reaction to recent news of a hack and an SEC probe were “overblown.”
CoreWeave soared 22.09% after Nvidia disclosed a larger stake in the data center provider than expected.
Quantum computing stocks popped on news that the company Quantum Computing has finished laying the groundwork for a quantum chip foundry. Shares of Quantum Computing rose 39.29%, while D-Wave Quantum gained 11.06%.
Archer Aviation soared 9.11% after being named the Official Air Taxi Provider of the 2028 Los Angeles Olympic and Paralympic Games, which sounds made up but is apparently very impressive.
Vistra Corp popped 3.06% on the news that it has acquired seven natural gas facilities from Lotus Infrastructure Partners for $1.9 billion.
What’s down
Novo Nordisk slipped 2.69% on the news that its CEO is stepping down after eight years at the helm, due to the pharma giant’s recent challenges.
Applied Materials sank 5.25% after the semiconductor maker’s revenue last quarter came in under analyst estimates.
Cava crumbled 2.27% thanks to financial forecasts of slower growth for the salad bowl chain in the coming year.
Take-Two Interactive Software lost 2.41% due to weaker-than-expected projections for net bookings this quarter and this year.
Doximity plunged 10.08% after the healthcare platform issued fiscal guidance for the current quarter and full year that came in below analyst expectations.
Two of the biggest cable companies in the United States have agreed to merge, marking a major milestone in consolidation as cord-cutters continue to ditch their pricey TV packages, thus forcing companies to adjust to their dwindling futures. Charter Communications, which operates under the Spectrum branding, is combining with its privately held rival Cox Communications, which it values at $34.5 billion including debt, the two companies announced Friday.
Visualize: How private equity tangled banks in a web of debt, from the Financial Times.
Markets started the day down yesterday but regained lost ground throughout the afternoon as investors decided that any day with no new tariff announcements is a good day.
Be advised: Fed Chair Jerome Powell warned that “supply shocks” pose a challenge for the economy, and that interest rates may need to remain higher for longer. Meanwhile, JPMorgan Chase CEO Jamie Dimon said a recession is still on the table.
Oil took a tumble on comments by President Trump that the US is nearing a deal with Iran over its nuclear program that could lift sanctions against the country.
SPEAKING: Dr. Marcinko will be speaking and lecturing, signing and opining, teaching and preaching, storming and performing at many locations throughout the USA this year! His tour of witty and serious pontifications may be scheduled on a planned or ad-hoc basis; for public or private meetings and gatherings; formally, informally, or over lunch or dinner. All medical societies, financial advisory firms or Broker-Dealers are encouraged to submit a RFP for speaking engagements: MarcinkoAdvisors@outlook.com
Posted on May 16, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
The Justice Department is investigating UnitedHealth Group for possible criminal Medicare fraud, the WSJ reported. The healthcare-fraud unit of the Justice Department’s criminal division is overseeing the investigation and it has been an active probe since at least last summer. Apparently the federal investigation is focusing on the company’s Medicare Advantage business practices. UnitedHealth said in a statement it hadn’t been notified by the Justice Department of the criminal investigation. The statement said the company stands “by the integrity of the Medicare Advantage program.”
Fiserv’s CFO said that the fintech’s retail payment system will see similar volume next quarter. Shareholders hoping for stronger growth were disappointed and pushed shares down 16.19%.
Posted on May 15, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
Nvidia climbed 3.97% on CEO Jensen Huang’s announcement of a partnership with Saudi Arabia-backed Humain to build a 500 megawatt data center.
Advanced Micro Devices popped 4.18% after it, too, revealed it’s helping Humain out. The chipmaker’s board also authorized a $6 billion stock buyback program.
Super Micro Computer continued to rally, soaring another 15.69% on the back of Raymond James analysts’ initiating their coverage with an “outperform” rating.
Boeing climbed 0.59% thanks to a $96 billion deal with Qatar Airlines to buy up to 210 aircraft.
Exelixis soared 19.70% after the oncology company reported a shockingly strong beat-and-raise quarter.
Septerna exploded 28.97% on the news that Novo Nordisk will license its oral obesity pill candidate for $2.2 billion.
What’s down
Airline stockswere down across the board after the FAA met with executives to discuss cutting flights in and out of Newark Airport. Delta Air Lines lost 4.32%, and United Airlines sank 3.51%.
American Eagle Outfitters tumbled 5.93% after the retailer cut its fiscal guidance, announced it’s writing down $75 million in merchandise, and forecast a decline in next quarter’s sales.
Grail plummeted 23.48% after the biotech’s revenue last quarter failed to meet Wall Street’s expectations.
Aurora Innovation fell 7.58% thanks to an announcement from Uber that it’s offering $1 billion in convertible notes that can be exchanged for Aurora shares.
JD.com lost 4.24% after the Chinese online retailer beat earnings expectations yesterday but still saw its price target cut by Morgan Stanley analysts.
Posted on May 14, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
By Rick Kahler MSFP CFP™
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If I had a dollar for every time someone referred to the “good old days,” of the American economy, I could probably buy a vintage diner, jukebox and all, and still have enough left for a slice of apple pie.
The newest round of on-again, off-again tariffs is built around that same kind of nostalgia. Slapping big taxes on goods from other countries will supposedly protect American jobs and industries. The aim is to bring factories back, boost wages, and make the country more self-reliant.
This is a powerful story that taps into a deep feeling that we’ve lost control. Supporters argue that the U.S. has opened its markets and played by the rules, allowing many other countries to prosper at its expense, while America has been in a long, slow economic decline. This story frames the U.S. as a victim, with tariffs a form of payback to punish countries that have “taken advantage of us.”
Except that story is a myth. Rather than punishing foreign economies, the pain of tariffs hits Americans at home. Our businesses face costlier goods, consumers pay higher prices at the store, and the ripple effects include falling sales, layoffs, and frayed trade relationships.
In addition, the U.S. economy has actually been booming. Over the past three decades, the U.S. has pulled far ahead of most developed nations. In 2008, the American economy was about the same size as the Eurozone’s. Today, it’s nearly twice as large. Wages have risen. Even the poorest U.S. state now has a higher per-person income than countries like France, Japan, or the U.K.
So why do so many people still feel like we’re falling behind?
First, the growth hasn’t reached everyone, especially in rural America. In some areas and industries, jobs have disappeared and opportunities have dwindled.
Second, many people who are doing okay themselves have bought into a powerful, repeated myth that things are going terribly for everyone else.
This narrative takes hold in people’s internal voices, the parts of themselves shaped by past pain, fear, or frustration. Tariffs, then, can feel like a way to stand up and take action. It makes perfect sense to want to relieve anxiety by shutting the world out and protecting what is left.
Yet, when we act from fear or anger without pausing to reflect, we tend to overcorrect or trade one set of problems for another. This is what many economists and business leaders see happening with tariffs. Even supporters of tariffs are beginning to admit they’re a gamble. Many are still willing to take that gamble if it means restoring something they feel they’ve lost, a sense of purpose, security, and control.
Reacting out of fear in this way is not likely to create lasting solutions. A more challenging but more productive approach would be to take time to listen with compassion to those inner voices, helping them move past anxiety to find answers based in truth rather than myth. Maybe real liberation comes from letting go of narratives that no longer serve us, choosing a future built on connection, courage, and clarity.
Because if we keep heading down an isolationist path, turning inward out of fear, the future might not be the golden age we imagine. It might look a lot more like the actual 1950s, before the civil rights movement, before women fully entered the workforce, before the innovations that made the U.S. economy a global leader. A time more isolated, less equal, and far less dynamic than the one we’ve come to idealize.
That’s a version of the past we don’t need to relive, no matter what nostalgic song is playing on the jukebox.
Posted on May 14, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
Inflation fell by one tenth of a percentage point to 2.3% for the year ending in April, the Bureau of Labor Statistics reported Tuesday in an update to the consumer price index. Forecasters had expected inflation to hold at 2.4%.
Coinbase exploded 23.97% on the news that the crypto trading platform will be added to the S&P 500 next week.
Nvidia climbed back into the elite $3 trillion market cap club today, rising 5.63% on the announcement that it will send 18,000 AI chips to Saudi Arabia.
Solar stocks soared after early drafts of a Republican tax and spending bill revealed renewable energy cuts weren’t as bad as feared. First Solar climbed 22.66%, while SunRun popped 8.58%.
Super Micro Computer climbed 16.02% thanks to Raymond James analysts initiating their coverage of the server maker with an “outperform” rating.
Boeing rose 2.46% now that the Chinese government has removed its ban on domestic airlines accepting orders from the plane manufacturer.
Rising sentiment powered popular momentum stocks higher today: Palantir rose 8.14%, AppLovin climbed 6.38%, Robinhood Markets jumped 8.95%, and Hims & Hers Health gained 15.92%.
What’s down
Honda Motor fell 4.20% after the company warned that tariffs will ding its bottom line and postponed its plans to build an EV plant in Canada.
Hertz Global plunged 16.93% after it missed analyst estimates across the board and announced it will offer fewer cars for rentals this year.
Enphase Energy lost 4.82% on a downgrade from Barclays analysts, who foresee slower demand for residential solar power products.
Rigetti Computing dropped 14.59% after the quantum computing company failed to live up to the high expectations that strong results from its competitors had given shareholders.
Posted on May 13, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
BREAKING NEWS
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UnitedHealth Group just announced the exit of CEO Andrew Witty and suspended its 2025 forecast due to surging medical costs, sending its shares down more than 10%. Chairman Stephen Hemsley will become CEO, effective immediately.
The fourth-largest U.S company big revenue in 2024, Minnetonka-based UnitedHealth has experienced a turbulent year that saw the shock killing of United Healthcare CEO Brian Thompson in New York City, and a cyberattack that affecting an estimated 190 million people and cost the company an estimated $3.1 billion dollars.
Virtual chronic care provider Omada Health has filed to go public in the United States, the latest in a string of healthcare listings expected this year. Omada did not disclose the details as to how much it plans to raise from its IPO.
The San Francisco, California-based company, which last raised $192 million in a Series E funding round in 2022, reported a 38% increase in revenue to $169.8 million for 2024, according to its IPO paperwork. For the first quarter of 2025, the company posted a 56.6% year-on-year jump in revenue to $55 million. Omada has applied to list its common stock on the NASDAQ under the symbol “OMDA”.
Healthcare IPOs on U.S. exchanges have fetched $7.1 billion in 2024, compared with $2.8 billion a year earlier, according to data compiled by LSEG.
Posted on May 13, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
During the 2024–25 Annual Enrollment Period, Medicare Advantage drew in only 1.3 million new members, compared to 2+ million in each of the five years prior, according to a March 25 report by consulting firm HealthScape Advisors. Traditional fee-for-service Medicare grew by about 200,000 after years of losing hundreds of thousands of members, according to HealthScape. During the 2023–24 AEP, it lost about 800,000.
Semiconductor stocks that looked like some of the biggest losers of the trade war just last week soared on today’s China/US deal. Nvidia popped 5.44%, TSMC rose 5.93%, AMD climbed 5.13%, Broadcom rose 6.43%, and Qualcomm gained 4.78%.
Magnificent Seven stocks also shot higher, particularly Apple (6.31%) and Amazon (8.07%), two companies that were bearing the brunt of higher tariffs.
Tesla jumped 6.75% on the tariff deal news, given a massive production plant that was responsible for 22% of Tesla’s total revenue last year is located in China.
US-listed Chinese stocks popped, for obvious reasons: JD.com gained 6.47%, Alibaba rose 5.82%, and Baidu climbed 5.08%.
Healthcare company Kindly MD soared 251.03% today after merging with Nakamoto, a bitcoin investment company founded by Trump’s crypto advisor David Bailey.
NRG Energy popped 26.21% after it agreed to acquire a slew of natural gas facilities from LS Power Equity Advisors.
Next Technology Holding soared 38.56% after the software company added 5,000 bitcoin to its portfolio and said it wants to add even more.
What’s down
EchoStar tumbled 16.58% today after the Wall Street Journal reported that the Federal Communications Commission was opening an investigation into the firm’s 5G network.
A slew of metal mining stocks fell today as gold declined on the tariff deal: AngloGold Ashanti fell 10.31%, Wheaton Precious Metals dropped 7.92%, NewmontCorporation lost 5.93%, and Gold Fields Limited sank 10.47%.
The Dow Jones exploded 1,000 points in pre-market trading, and the rally never waned toay. Both the Dow and the S&P 500 are nearly back to even for the year, while the NASDAQ clawed its way out of bear market territory.
Bonds tumbled while yields soared as the market pushed the timing for the Fed to cut interest rates back from July to September.
Gold sank as traders passed right on by the go-to investment for safety and sprinted straight toward equities.
Crude oil popped on the hopes of stronger economic growth for both the US and China now that the two countries are finally engaging in trade discussions.
Posted on May 12, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
BREAKING NEWS
By Staff Reporters
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Markets: After stomach-churning ups and downs this spring, the stock market calmed down last week with all three major indexes holding steady and closing just a bit lower. This week, investors will be glued to the details of the trade agreement with China, an inflation report, and more earnings.
Breaking News Overnight: After talks in Switzerland this weekend, the US and China agreed to a large reduction in tariffs on each other. The US is lowering its tariffs on China from 145% to 30%, while China is lowering its tariffs on the US from 125% to 10%. The new tariff rates will be in effect for 90 days while the two sides continue talking.
Posted on May 12, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
By Vitaliy Katsenelson CFA
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I’ve received emails from readers asking my thoughts on DeepSeek. I need to start with two warnings. First, the usual one: I’m a generalist value investor, not a technology specialist (last week I was analyzing a bank and an oil company), so my knowledge of AI models is superficial. Second, and more unusually, we don’t have all the facts yet.
But this story could represent a major step change in both AI and geopolitics.
Here’s what we know:
DeepSeek—a year-old startup in China that spun out of a hedge fund—has built a fully functioning large language model (LLM) that performs on par with the latest AI models. This part of the story has been verified by the industry: DeepSeek has been tested and compared to other top LLMs. I’ve personally been playing with DeepSeek over the last few days, and the results it spit out were very similar to those produced by ChatGPT and Perplexity—only faster.
This alone is impressive, especially considering that just six months ago, Eric Schmidt (former Google CEO, and certainly no generalist) suggested China was two to three years behind the U.S. in AI.
But here’s the truly shocking—and unverified—part: DeepSeek claims they trained their model for only $5.6 million, while U.S. counterparts have reportedly spent hundreds of millions or even billions of dollars. That’s 20 to 200 times less.
The implications, if true, are stunning. Despite the U.S. government’s export controls on AI chips to China, DeepSeek allegedly trained its LLM on older-generation chips, using a small fraction of the computing power and electricity that its Western competitors have. While everyone assumed that AI’s future lay in faster, better chips—where the only real choice is Nvidia or Nvidia—this previously unknown company has achieved near parity with its American counterparts swimming in cash and datacenters full of the latest Nvidia chips. DeepSeek (allegedly) had huge compute constraints and thus had to use different logic, becoming more efficient with subpar hardware to achieve a similar result.
In other words, this scrappy startup, in its quest to create a better AI “brain,” used brains where everyone else was focusing on brawn—it literally taught AI how to reason.
Posted on May 11, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
By Vitaliy Katsenelson CFA
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I am back from what has become over the past two decades an annual pilgrimage to Omaha.
What’s fascinating about this trip is that it has everything and nothing to do with Warren Buffett. The main event that draws everyone to Omaha – the Berkshire Hathaway (BRK) annual meeting – is actually the least important part. I could have watched the shareholder meeting livestreamed on YouTube from the comfort of my living room couch.
The emergence of the Berkshire phenomenon reminds me of China’s manufacturing evolution. China initially attracted capital because of its cheap labor. But over time, China took this capital and plowed it into infrastructure. Factories were built next to each other, each specializing in certain areas. A specialized ecosystem emerged.
Today, Chinese labor is no longer cheap. It’s been replaced by automation, and now China is a powerhouse for manufacturing anything and everything.
The transformation that the BRK weekend has undergone followed a similar progression. Initially, the only way to absorb Buffett and Munger’s wisdom was to come to Omaha, as the event was not streamed. But then something interesting happened. The BRK weekend attracted people who shared the same value system, and friendships were formed. A variety of smaller events began to be scheduled throughout the same weekend across Omaha, and an equally specialized ecosystem emerged.
The shareholder meeting began to be streamed about ten years ago, but that has had no impact on attendance. This is one reason why I think Buffett is at peace with the idea of no longer presiding at the meeting – people will still come to Omaha the weekend before Mother’s Day. The BRK weekend now features dozens of excellent events.
I spoke at several, including an investing panel at Creighton University, alongside the wonderful Bob Robotti, a die-hard value investor who runs Robotti & Co. I’ve known Bob for years – at 72, he exhibits the same enthusiasm for stocks as someone decades younger – and this panel was an excellent example of what the BRK Omaha ecosystem has produced.
Bob and I have very different approaches to value investing. He loves cyclical businesses, while I generally shun them. Bob mentioned that he’d buy a very cheap business run by a mediocre manager, while I would not touch it with a ten-foot pole.
There is absolutely nothing wrong with either approach; indeed, there is an important lesson in it. Your investment philosophy and process have to fit your personality and your EQ. In my case, I get nervous (and thus irrational) when I own companies run by imbeciles who don’t have either skin or soul in the game. But the great thing about the BRK weekend is that I learn from Bob every time I spend time with him. He’s a thoughtful and genuinely kind human being.
From the outside, the BRK weekend may seem like a place where people simply want to learn how to get and stay rich. But this gathering transcends value investing and capitalism and genuinely celebrates human values. People (like me) bring their kids to this event. And just like at the main event, at the Q&A breakfast I hosted for my readers, many questions centered on life rather than investing.
My first Omaha reader meetup fit around a small restaurant table. This year, to my surprise, 450 people packed into a venue with standing-room only. I answered questions on every imaginable topic for just over two hours, and by the end I was exhausted.
This gave me even greater admiration for Buffett, who is four decades my senior, yet still fielded questions for four solid hours. I was delighted to hear Warren give a similar answer to one I had given the day before when asked what advice he’d give to graduating students: “Don’t worry too much about starting salaries and be very careful who you work for because you will take on the habits of the people around you.”
(Incidentally, we are going to host our next Q&A Breakfast on May 1, 2026. You can sign up for it here. It’s free, but I suggest you sign up early, as it fills up fast.)
I also participated (as I have for over a decade) in an investing panel at YPO (Young President Organization) in the beautiful Holland Performance Art Center with Tom Gaynor, CEO of Markel (often described as a baby Berkshire Hathaway) and Lawrence Cunningham. Lawrence authored perhaps the most important book about Buffett, The Essays of Warren Buffett, masterfully editing Warren’s annual letters into a cohesive volume. This year’s panel was one of those occasions where I found myself listening intently to my fellow panelists instead of speaking more.
Lawrence has met Greg Abel – Buffett’s designated successor – and feels optimistic about him. He’s probably right – this was one of Buffett’s most crucial decisions, which he did not make lightly. Yet I can’t imagine sitting for four hours listening to Greg Abel. I am sure he is a brilliant CEO, but he’s neither Buffett nor Munger – few individuals possess so much worldly wisdom and communicate it with such clarity and humor.
This brings me to the point of this note: the dramatic (yet not unexpected) announcement that Buffett is stepping down as CEO of BRK at the end of the year.
Before I comment on this, let me tell you a story. Imagine you have been watching a soap opera for 17 years. You arrive dutifully every year to watch every episode in person. And then you miss the last five minutes of the explosive finale before it goes off the air. This is what happened to me when Buffett announced his retirement as CEO.
A few minutes before noon, while Buffett was answering a question I’d heard before and appeared to be winding down, I suggested we slip out early for lunch to avoid the crowds. When we came back, I discovered that the meeting had gone on until 1 pm, and just before it ended, Buffett announced that he would step down at the end of the year. Seventeen years of watching Warren speak and I missed the most dramatic moment of all, followed by a five-minute standing ovation.
I think Buffett has engineered his exit brilliantly. He will still remain chairman, and even before the announcement he was not managing BRK’s day-to-day operations. As a collection of hundreds of companies that often have absolutely nothing in common with each other, BRK is already highly decentralized. Buffett’s main contribution has been capital allocation.
Giving up the CEO title while he’s still alive means Buffett has brought in his replacement in an orderly way and created a smooth transition. But I have a feeling that on January 1, 2026, when Greg Abel officially becomes CEO, nothing will really change, and Warren will continue doing what he’s been doing for as long as he can. If Buffett is able – he’ll be 95 – he’ll still drive to the office and stop by McDonald’s for a breakfast sandwich (there’s a lot of wisdom in finding pleasure in little things). His son Howard Buffett will become chairman after Warren, with his only job being to preserve the culture. I’ve been asked what I think of BRK stock. We bought the stock during the pandemic. It has done better than I expected, in part because of the strong performance of Apple, which was BRK’s largest holding. But BRK today is an unexciting investment at its current price. In all honesty, it is a conglomerate with some good and some merely okay businesses.
As a consumer, I get a (small) glimpse into how BRK businesses are being run by visiting Dairy Queen. BRK owns DQ, and I love their soft-serve ice cream (though I only eat it when I travel). My favorite part of research!
DQ has (or maybe had) a strong brand and operates on a capital-light model as a franchisor. But most stores I have visited looked like they have been neglected and need fresh paint. To be sure, I understand the limitations of this “analysis,” and DQ overall amounts to a rounding error on BRK’s financials. But little things often reveal much about big things.
BRK’s big businesses, from what I can glean through their financials, are not particularly well managed – GEICO and BNSF (railroad) have definitely been undermanaged lately. BNSF is not nearly as efficient as its competitors that embraced precision railroading, and until recently GEICO was losing market share to Progressive.
BRK’s reinsurance business, a significant source of BRK’s profitability, is run by the extraordinary Ajit Jain. Ajit is in his 70s and unfortunately it seems he is not in great health. Is his replacement going to shoot the lights out, like he did? We don’t know. But Ajit is probably more important to BRK today than Buffett.
BRK is not going to melt into oblivion after Buffett is gone, but its best days are behind it. As Buffett has acknowledged, just its size alone makes it very difficult for BRK to grow. Truth be told, even if Buffett were thirty years younger and continued to run BRK, I am not sure the results would be much different than what I think the future holds with Abel at the helm.
Buffett and Charlie Munger had a tremendous impact on me as an investor and human being. I am incredibly thankful to both. I hope Warren is there next year, but, in either case, I will be.
Posted on May 10, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
Meta is reportedly developing a “super-sensing” mode for its AI glasses that could identify people by name.
De Beers, the South African-British diamond giant, is closing its lab-grown diamond business, the company announced, as the value of human-made gems declines.
Coinbase acquired Deribit, a popular trading platform for bitcoin and ether options, for $2.9 billion.
FEMA acting head Cameron Hamilton was fired yesterday, Politico reported, amid reports that President Trump could look to shrink the department or eliminate it entirely.
Match Group, which owns Hinge and Tinder, cut 13% of its workforce as it seeks a turnaround following several executive departures and pressure from activist investors.
Microchip Technology climbed 12.60% on a solid beat-and-raise quarter for the semiconductor stock.
Pinterest gained 4.84% thanks to higher-than-expected revenue last quarter and projected strong revenue growth in the current quarter.
Insulet popped 20.88% after the insulin device manufacturer crushed Wall Street’s estimates on the top and bottom lines and raised its fiscal forecast.
Trade Desk soared 18.60% thanks to an impressive first quarter for the digital marketing company, including EPS of $0.33 compared to forecasts of $0.25.
DraftKings rose 2.49% thanks to a smaller-than-expected loss last quarter due in part to fewer March Madness upsets than usual.
Cloudflare popped 6.32% on strong earnings after the cloud services provider inked its biggest contract ever last quarter.
Monster Beverage missed first-quarter revenue estimates, but the energy drink giant still managed to climb 1.43%.
What’s down
United Airlines lost 2.69% on the news that Newark Airport experienced its second major outage in two weeks.
Coinbase stumbled 3.48% lower on a surprise revenue miss last quarter, thanks to a 17% decline in consumer trading volume.
Expedia beat profit estimates, but lower revenue thanks to a travel spending slowdown still sank the stock 7.30%.
Sweetgreen was crushed by 16.25% due to full-year fiscal guidance that came in way worse than Wall Street anticipated.
Affirm may have done well in the third quarter, but the Buy Now, Pay Later company fell 14.47% thanks to lower revenue forecasts this quarter.
UnitedHealthcare Group was sued by shareholders claiming the company didn’t properly adjust its earnings outlook following the death of CEO Brian Thompson.
Posted on May 9, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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The DOJ wants Google to break up its advertising empire
Following a federal court’s ruling that Google operates an illegal ad-tech monopoly, the Justice Department requested that the company be forced to sell two major products—its Ad Exchange and a management platform—as an appropriate remedy.
Google, unsurprisingly, asked the judge for a less drastic remedy that would see the company make certain changes to its practices without having to break up its ad business. The judge won’t rule until the remedies trial starts in September.
Until then, Google has another thing to dread:
The government also wants the tech giant to sell Chrome to remedy its other monopoly (in search).
The phrase “sell in May and go away” suggests that investors should sell their stocks in May and avoid the market during the summer months, as historical data indicates poorer stock performance during this period.
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It’s Friday morning, so you’re probably clocking out once you’re done reading this ME-P. And who could blame you, after such a wild month of watching your portfolio zig & zag with every headline.
In fact, why not just sell all your stocks and walk away entirely? You’ve got to admit, it’s tempting. After all, markets have completed an incredible round trip since Liberation Day—you could just call it even, start celebrating Cinco de Mayo a bit late, and maybe check your portfolio again sometime around August.
“Sell in May and go away” might sound like appealing advice these days, especially considering that the market usually spends the next six months under-performing: The S&P 500 gains just 1.8% on average from May through October, the worst-performing stretch of the year historically.
These ‘worst six months’ have gained in eight of the last 10 years,” he recently wrote. He continued: “Not to mention the month of May has been higher nine of the past 10 years, so maybe we should call it,
Posted on May 9, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
Former Theranos CEO Elizabeth Holmes on Thursday lost her bid to have an appeal of her 2022 fraud conviction reheard. The 9th Circuit U.S. Court of Appeals denied Holmes’ request for a rehearing before the original three-judge panel that upheld her conviction. At the same time, the court said no judge on the circuit court had asked for a vote on whether to have the full court rehear the appeal.
IonQ is one of the rare cases of a company in the quantum computing industry that reported solid financials. Shareholders rewarded it with a 9.27% gain today.
Axon Enterprise got a 14.13% jolt after the Taser maker reported strong earnings growth and upped its revenue guidance for the current quarter.
Crypto stocks had a great day thanks to bitcoin’s breakout (more on that later). MicroStrategy rose 5.58%, Coinbase climbed 5.06%, and Riot Platforms gained 7.65%.
What’s down
Arm Holdings fell 6.18% after the semiconductor manufacturer warned that both earnings and revenue will come in lower than Wall Street expected this year.
Peloton Interactive lost 6.73% thanks to a bigger-than-expected loss last quarter and a 13% decline in revenue.
Cleveland-Cliffs tumbled off a cliff on the news that the steelmaker is fully or partially pausing production at six of its facilities. Shares tumbled 15.78%.
Krispy Kreme crashed 24.71% after the donut chain paused its deal with McDonald’s, scrapped its dividend to save money, and pulled its fiscal guidance.
Fortinet dropped 8.41% after the cybersecurity company beat analyst forecasts but projected lower revenue in the current quarter than initially expected.
Pharma stocks fell across the board on reports that President Trump will slash drug costs with revisions to Medicare pricing. Eli Lilly lost 3.25%, Bristol Myers sank 1.55%, and AbbVie fell 1.33%.
Financial Advisor, Planner and Insurance Agent Information
By Staff Reporters
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Ostrich Bias is a behavioral phenomenon describing the tendency of individuals to avoid or ignore information that they perceive as negative or threatening. This term is derived from the popular but inaccurate belief that ostriches bury their heads in the sand when faced with danger, even though they do not exhibit such behavior.
Evidence: There is neuro-scientific evidence of the ostrich effect. Sharot et al. (2012) investigated the differences in positive and negative information when updating existing beliefs. Consistent with the ostrich effect, participants presented with negative information were more likely to avoid updating their beliefs; wills, estate plans, investment portfolios, and insurance policies, etc..
Moreover, they found that the part of the brain responsible for this cognitive bias was the left IFG – inferior frontal gyrus – by disrupting this part of the brain with TMS – transcranial magnetic stimulation – participants were more likely to accept the negative information provided.
EXAMPLE: The Ostrich Bias can cause someone to avoid looking at their bills, because they’re worried about seeing how far behind they are on home mortgage payments, credit cards, education or auto loans, etc.
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Feel free to submit education content to the site as well as links, text posts, images, opinions and videos which are then voted up or down by other members. Comments and dialog are especially welcomed.
Daily posts are organized by subject. ME-P administrators moderate the activity. Moderation may also conducted by community-specific moderators who are unpaid volunteers.
Posted on May 8, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICAL EXECUTIVE-POST–TODAY’SNEWSLETTERBRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
The Fed left its key interest rate unchanged again Wednesday and gave no hint it plans to lower it soon as President Donald Trump’s sweeping tariffs raise the risks of both another inflation spike and recession. But officials signaled they’re growing increasingly concerned about both hazards.
Netflix rose 1.56% after the streamerrevamped its homepage and rolled out new AI search tools.
Nvidia popped 3.10% on news that President Trump will rescind Biden-era global chip curbs.
Advanced Micro Devices rose just 1.76% despite the chipmaker beating earnings and forecasting solid growth ahead.
Lions Gate Entertainment soared 20.77% after it finalized the separation of its studio and STARZ business segments into two distinct companies.
Logitech rose 1.46% thanks to an upgrade from UBS analysts who say the device maker is well-positioned to capitalize on Gen Alpha, 94% of whom play video games.
Charles River Laboratories popped 18.81% after the pharmaceutical company raised its full-year guidance above Wall Street’s expectations.
Rockwell Automation gained 11.90% on a beat-and-raise quarter thanks to higher demand for domestic manufacturing.
What’s down
Super Micro Computer fell 1.40% after the AI server maker missed on revenue last quarter and forecast slower revenue growth this quarter.
WW International, better known as Weight Watchers, plummeted 43.04% on the news that the company is going bankrupt.
Marvell Technology plunged 8.02% after the data storage manufacturer postponed its investor day—never a good sign.
Rivian Automotive tumbled 5.78% on management’s forecast that vehicle deliveries will be lower than expected this year.
Arista Networks beat Wall Street’s estimates but fell 4.76% after it warned that its margins will be squeezed in the coming quarters.
Sarepta Therapeutics plummeted 21.45% after posting a bigger-than-expected loss last quarter and projecting slower revenue growth this quarter.
Posted on May 7, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
By Vitaliy Katsenelson CFA
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Today, we’re diving into two thought-provoking questions:
What’s a famous investment rule I don’t agree with? Which key characteristics should a good investor have? Again:
What’s a famous investment rule I don’t agree with?
Which key characteristics should a good investor have?
A Famous Investment Rule I Don’t Agree With: “Buy and Hold”
Buy and hold becomes a religion during bull markets. Then, holding a stock because you bought it is often rewarded through higher and higher valuations. There’s a Pavlovian bull market reinforcement – every time you don’t sell (hold) a stock, it goes higher.
Buying is a decision. So is holding, but it should not be a religion but a decision. The value of any company is the present value of its cash flows. When the present value of cash flows (per share) is less than the price of the stock, the stock should not be “held” but sold.
WarrenBuffett is looked upon as the deity of buy and hold.
Look at Coca Cola when it hit $40 in 1999. Its earnings power at the time was about $0.80. It was trading at 50 times earnings. It was significantly overvalued, considering that most of the growth for this company was in the past.
Fast-forward almost a quarter of a century – literally a generation. Today the stock is at $60. It took more than a decade to reclaim its 1999 high. Today, Coke’s earnings power is around $1.50–1.90. Earnings have stagnated for over a decade. If you did not sell the stock in 1999, you collected some dividends, not a lot but some. The stock is still trading at 30–40x earnings. Unless they discover that Coke cures diabetes (not causes it), its earnings will not move much. It’s a mature business with significant health headwinds against it.
“Long-term” and “buy-and-hold” investing are often confused.
People should not own stocks unless they have a long-term time horizon. Long-term investing is an attitude, an analytical approach. When you build a discounted cash flow model, you are looking decades ahead. However, this doesn’t mean that you should stop analyzing the company’s valuation and fundamentals after you buy the stock, as they may change and affect your expected return. After you put in a lot of analytical work and buy the stock, you should not simply switch off your brain and become a mindless buy-and-hold investor.
This doesn’t mean you shouldn’t be patient, but holding, not selling, a stock is a decision.
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