I’m on vacation this week, but don’t want you getting too bored… so we’ll share this teaser solution which originally appeared in a Friday File for our Irregulars in late August. What follows is an excerpt from that Friday File, and it is unchanged since 8/29/25:I got a bunch of questions over the past few days about the new teaser presentation by Porter Stansberry and Erez Kalir, who are pre-launching Kalir’s new Tech Frontiers newsletter (“on sale” for $2,000/yr), which will be a ramped-up version of his ...

Cass Information Systems (NASDAQ: CASS ) is quite a unique player in the US financial services market. It has two activity directions: payments servicing and banking services. Their specialties are in transport, logistics, and energy invoice processing; they mainly provide effectiveI’m an independent equity trader and licensed financial advisor focused on uncovering high-upside opportunities in overlooked sectors — especially small-caps, energy, commodities, and special situations. My investment strategy is ...

Financials are faring just fine in 2025. The Financial Select Sector SPDR Fund ETF (NYSEARCA: XLF ) has returned 13%, dividends included, since the start of the year. Still, that’s about 1.2 percentage points of negative alpha to the SPDRFreelance Financial Writer | Investments | Markets | Personal Finance | RetirementI create written content used in various formats including articles, blogs, emails, and social media for financial advisors and investment firms in a cost-efficient way. My passion is putting ...

Financials are faring just fine in 2025. The Financial Select Sector SPDR Fund ETF (NYSEARCA: XLF ) has returned 13%, dividends included, since the start of the year. Still, that’s about 1.2 percentage points of negative alpha to the SPDRFreelance Financial Writer | Investments | Markets | Personal Finance | RetirementI create written content used in various formats including articles, blogs, emails, and social media for financial advisors and investment firms in a cost-efficient way. My passion is putting ...

美联储降息影响 - 美联储于9月17日降息25个基点 为2025年首次降息 并预计年底前再降息两次 2024年共降息三次 [1] - 利率下降通常推动投资者转向高风险成长股或高收益股息股 [1] - 对传统银行影响复杂 降息可能刺激贷款活动但会降低净利息收入 并使储蓄账户和存单吸引力下降 [2] Upstart业务模式 - 公司是连接银行、信用合作社和汽车经销商的贷款中介平台 采用AI驱动模型审查非传统数据点(如标准化考试成绩、GPA和工作经历)审批贷款 [4] - 作为不承担贷款风险的中介机构 主要收入来自向贷款合作伙伴收取的推荐费 无需高利率维持利润 [5] - 降息环境预计增加贷款申请量 提升费用收入且不影响利润率 [5] Upstart财务表现 - 2022-2023年因利率上升导致贷款需求萎缩 2024年随利率下降增长重新加速 [6] - 分析师预测2024-2027年营收复合年增长率达36% 调整后EBITDA复合年增长率达245% [7] - 增长驱动因素包括利率下降、贷款自动化程度提升和超优质借款人增加 当前股价相当于明年调整后EBITDA的22倍 [7] 行业机会 - 除传统银行外 部分金融股可能在降息环境中受益 重点公司包括Upstart、Robinhood和标普全球 [3] - Robinhood客户将增加股票、期权和加密货币交易量 [8] - 标普全球信用评级业务将随企业债务发行量增加而增长 [8]

Key TakeawaysIraq has significantly increased its oil exports after ending voluntary OPEC+ production cuts, with state oil marketer SOMO projecting hundreds of millions in additional revenues from an expected boost of 200,000 barrels per day.North Korea has firmly rejected denuclearization demands, declaring its nuclear status "irreversible" and offering conditional talks with the U.S. only if Washington abandons its denuclearization policy, contrasting with South Korea's openness to a nuclear freeze deal.B ...

财务状况调查结果 - 三分之一的美国人报告过去一年财务状况恶化 其中X世代和婴儿潮一代受影响最频繁 [1] 财务重置计划框架 - 建议通过12周计划实现财务整顿 重点关注支出管理 自动化储蓄和债务处理 [2] - 第一周需审查财务状况 将过去三个月支出分类为固定 自由支配和债务还款 并计算月平均值 [3] - 第二周按金额排序支出 寻找各项削减10%至30%的机会 优先处理自由支配类小额支出 [4][5] - 第三周采用"先支付自己"策略 设置至少10%收入的自动转账至高收益储蓄和投资账户 [6] - 自动化财务管理被强调为最重要措施之一 可消除资金管理中的摩擦 [7] - 第四周重点处理消费者债务 需掌握余额和利率 通过增加月付或协商降息加速还款 [8] 债务压力数据 - KeyBank 2025财务流动性调查显示33%美国人承受债务压力 包括许多能正常还款的人群 [7]

资产代币化发展趋势 - 现实世界资产代币化进程加速 预计市场规模将从2023年的6000亿美元增长至2033年的19万亿美元[1][4] - 代币化资产类别涵盖股票、债券、黄金、房地产等所有现实世界资产类型[4] 行业应用进展 - Robin Hood在欧盟推出200种美国代币化股票 Gemini同样在欧盟提供代币化股票服务[2] - 纳斯达克已向SEC申请推出代币化证券交易 传统金融机构为避免被Coinbase、Kraken等平台抢占市场而积极布局[3] 技术优势特征 - 基于区块链的股票发行可实现更便捷交易、更快结算速度（当前结算流程需数日）和更小份额拆分[4][5][7] - 支持全球任意地点访问 并能作为抵押品使用 实现资产间即时置换（如直接抛售Alphabet买入特斯拉）[5][6] 实施挑战 - 需重构清算和结算体系 现有流程改造需要较长时间完成[7] - 整个金融市场基础设施预计将逐步迁移至区块链系统 华尔街机构普遍看好此转型方向[7]

Finance expert Rachel Cruze, part of the Dave Ramsey expert network (and his daughter), recently discussed the fact that wealth building is not as exciting as it may sound, but actually rather boring “if you’re doing it the right way.” Check Out: 5 Key Mindset Shifts To Financially Become the Top 1%, According to Humphrey Yang Read Next: The New Retirement Problem Boomers Are Facing Sharing a clip she found online in which finance expert JC Rodriguez interviewed a retired couple who are “net worth million ...

允中 编辑整理 量子位 | 公众号 QbitAI 让AI像金融分析师一样搜索和分析数据，到底有多难？当前的大模型虽然能回答基础金融知识，在CFA考试中取得高分，但面对真实的金融场 景，它们的表现究竟如何？ 为了回答这个问题， 字节跳动Seed团队联合哥伦比亚大学商学院推出了FinSearchComp，这是首个完全开源的金融搜索与推理基准测试。 该基准包含635个金融专家精心设计的问题，覆盖全球和大中华两个市场 ，并在多个主流模型产品上进行了全面评测。 评测结果令人深思： 在全球数据集上，表现最好的Grok 4 (web)准确率达到68.9%，但仍落后人类专家6.1个百分点。在大中华区数据集上，豆包(web)虽然领先 其他模型，但与人类专家88.3%的准确率相比，差距超过34个百分点。 这些数字清晰地表明，即使是最先进的AI系统，在处理复杂金融分析任务时仍有很大提升空间。 举例来说，看似简单的"查询IBM最新收盘价"需要快速获取并验证最新数据；"检索星巴克2020年9月的总资产"需要准确定位时间点并理解会 计准则；而"识别2010年以来标普500单月最大涨幅"则需要跨越多个时期进行数据处理。 这些任务展现了金融 ...