HUGE News Is Moving the Stock Market Today!

The Fed cut rates by a quarter point for the second time in a row, and while most people cheer for lower rates, I’m one of the few who prefers higher ones—it weeds out weaker competition in investing. Mortgage rates have dropped significantly, and that’s putting hundreds of dollars back into homeowners' pockets each month. Nvidia just crossed a $5 trillion market cap thanks to AI demand, but at 70x free cash flow, I think it's priced for perfection and caution is warranted. Our investing approach remains focused on principles, long-term valuation, and avoiding hype—because even great companies can be bad investments at the wrong price.