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Two Companies Carry a Third of the Earnings Boom
S&P 500 profits are expected to grow 29.5% in the third quarter. On our arithmetic, Micron and Nvidia account for about a third of that growth, and…
 • MoatPeak Investing
Chips Were the Easy Part
Oracle’s 1.3-gigawatt Wisconsin campus is waiting on a power line whose approval had to start over. Finland has halted two Google sites. Google paid up…
 • MoatPeak Investing
Mortgage Rates Hit 7.4%. The Fed Is Not the Main Reason
Since February, the Fed has raised rates by a quarter point. The 30-year mortgage rate is up 1.4 points. Here is what really sets your mortgage rate…
 • MoatPeak Investing
The Long Bond Has a Buyer Problem
On 1 October, holders offered the Treasury $46bn of long bonds in a buyback, the most on its records. Then the 10-year hit a 2002 high on a day oil…
 • MoatPeak Investing
Bonds Now Pay More Than Stocks Earn
The 10-year Treasury yielded 5.31% at Monday’s close. The S&P 500 earns 3.77% of its price. Against dividends, the gap is the widest since November…
 • MoatPeak Investing
Tether Has Four Roles at Gold.com. Shareholders Should Read All Four.
Gold.com's revenue rose 132 percent last year. The gold it sold rose 24 percent. We read the 10-K, the 13D filings and a term sheet filed as an appendix…
 • MoatPeak Investing

September 2026

Who Pays If an AI Data Center Runs Late
Oracle sent a force majeure notice on its New Mexico campus. Google's $920m-a-month SpaceX deal has a walk-away date. An Illinois developer says $1 met…
 • MoatPeak Investing
When AI Writes the Analysis, Who Gets Paid for the Data?
FactSet reports on 30 September, MSCI on 20 October and LSEG on 22 October. We split financial data into four layers and asked which ones AI can go…
 • MoatPeak Investing
The AI Campus Has Two Rents
The notice from Oracle regarding Jupiter indicates the time when higher returns are expected to begin. This situation is distinct from a tenant vacating…
 • MoatPeak Investing
The five-year auction, measured against every one since 2008
On Wednesday the government issued seventy billion dollars’ worth of five-year debt. One indication of the level of demand was the lowest it had been…
 • MoatPeak Investing
We applied four different methods to check the 1999 comparison and found that only one of these supported the claim.
A remarkable statistic is currently being circulated regarding bank shares and the time when this last happened.
 • MoatPeak Investing
When the paperwork and the reporting disagree about a date, the market is a witness.
Saudi crude oil exports have fallen by 43 percent, a figure which represents a considerable change.
 • MoatPeak Investing
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