Holy moly... this new paper finds that 88% of VC-backed founders receive zero exit value 🤪🤪🤪

GM just announced the biggest stock buyback in automotive industry history. Instead of investing in their workers or new product lines, GM executives are robbing from the future to pay themselves and their shareholders today. Stock buybacks should be illegal.

Harvard University’s endowment jumped to a record $68 billion bloomberg.com/news/articles/…

A girl just said she tried to get rejected 1000 times in 2025 and ended up being cast in plays, winning pageants, securing hella paid brand deals, and appearing in commercials.This is your sign to chase rejection to the point of "accidental" success. You'll be surprised.

About half of all investment funds disappear over 10 years. Happy to report we made it! To all of our 140,000 investors (and the haters too) that have been along for the ride, thank you, and here's to the next 10....🥳

There’s a strong case for public pensions owning zero private equity. But there’s a career incentive to keep allocating… today’s external manager could be tomorrow’s employer. Makes those PJ negotiations a little awkward.

Value is still out there. Investors don't have to pay S&P 500 prices to own companies that return cash to shareholders. SYLD, FYLD and EYLD all trade at steep discounts to the index on earnings, book, sales and cash flow. Learn more at cambriafunds.com. Disclosures: cambriafunds.com/disclosures.

We did a survey on how dividends work and received thousands of responses... Q: "Which of the following best describes how dividends work for a stock investor?" A1: "A stock yields 5%. The stock is trading at $100 and pays a $5 cash dividend. After distribution, the investor now has a stock worth $95 and a $5 cash dividend." A2: "A stock yields 5%. The stock is trading at $100 and pays a $5 cash dividend. After distribution, the investor now has a stock worth $100 and a $5 cash dividend." The good news? Meb's audience (mostly) gets its. 90% of pros understand how dividends work, and 80% of individuals. 👏 HOWEVER, for the broad-based audience, the results are DISMAL. 60% of pros understand how dividends work (despite 90% rating their knowledge at "average to very good")... Only 25% of individuals understand how dividends work. You read that right, 75% of individuals think that dividends are free money paid out like an allowance or bonus... This agrees with my experience over the last 20 years. Most individuals, and a non-trivial number of professionals, do not understand the most basic input in all of investing! This explains everything from the irrational preference for dividends to predatory offerings focused on paying out magically high dividends to hope and dreams of passive income. We will publish a longer paper on this soon, but in the meantime, stay tuned for a great podcast on the topic dropping shortly!

The media doesn't want you to know this, but if you're a guilt-ridden rich guy who thinks the rich should pay more in taxes...you can just send all your money to the government! Yes, really. The Bureau of Fiscal Service has a voluntary account since 1843, and you can hand over all your earthly belongings to Uncle Sam if you feel they can do more with your money than you can. Think we should all pay more taxes? Then you get to go first. (Scott Kirby is worth ~$100M). fiscal.treasury.gov/financin…