March 2026 Market Review: Iran Oil Shock, Job Losses, & the Software Rally
War with Iran, oil above $90, a 92,000-job loss, and the software rally that no one expected Published: March 8, 2026 | Red Bank, NJ TL;DR — Weekly market summary The S&P 500 closed at 6,740.02 on March 6, falling 2.0% for the week and reaching its lowest close of 2026 after U.S.-Israeli strikes on […]
Why Market Volatility is the Price of Wealth Creation
Published: March 5, 2026 | Red Bank, NJ TL;DR $100,000 invested in the S&P 500 in January 1973 grew to over $24 million by year-end 2025, with dividends reinvested [OfficialData.org] S&P 500 cash dividends rose from roughly $14.89 per share in 1996 to $78.92 in 2025, a 430%+ increase [Standard & Poor’s via Multpl.com] Private […]
What does Markel Group’s 2025 shareholder letter teach long-term investors about compounding wealth?
Published: March 4, 2025. By David L. Berkowitz | VAP Wealth Advisors | Red Bank, NJ About the Author David L. Berkowitz — Investor and Financial Advisor. Nearly 40 years of experience — from trading and research at a $250 million hedge fund, to two decades as a portfolio manager, to now helping individuals and […]
Should You Sell Because of Iran? 95 Years of Data says, No.
Published: March 3, 2026 | Red Bank, NJ TL;DR The U.S. and Israel struck Iran on February 28, 2026, killing Supreme Leader Khamenei and 40+ senior officials. Stocks dipped, oil spiked, gold hit $5,400/oz. But 95 years of market data show that geopolitical crises produce buying opportunities—not reasons to sell. Manufacturing is expanding (ISM PMI […]
How Permian Resources (NYSE: PR) Grew Free Cash Flow 72% While Oil Prices Dropped
Five counterintuitive strategies from PR’s 2025 earnings that every energy investor should study Published: February 27, 2026. Red Bank, NJ — VAP Wealth Advisors TL;DR Permian Resources Corporation (NYSE: PR) reported Q4 2025 earnings on February 26, 2026, posting record oil production of 188,600 Bbls/d. Free cash flow per share rose 72% from 2023 to […]
VAP January Newsletter
January 2026 market review: AI deployment, semiconductor strength, and a broad expansion, and what each one changes for a long-term owner.
Can Microsoft’s Copilot Agents Justify a $3 Trillion MSFT Valuation?
Published: February 23, 2026. TL;DR Microsoft (MSFT) has dropped roughly 28% from its October 2025 all-time high of $555.45, trading near $397 as of February 20, 2026. The selloff reflects investor anxiety over $37.5 billion in quarterly AI capital spending and slow Copilot adoption (15 million paid seats against 450 million M365 subscribers). The investment […]
The Humanoid Robotics Revolution: Why the Decade of Abundance Starts Now
How collapsing costs, generative AI, and a global labor crisis are creating the largest business opportunity in human history TL;DR Industry leaders predict that 1 billion to 10 billion humanoid robots will be deployed by 2040 (Morgan Stanley; Elon Musk at FII). Goldman Sachs raised its 2035 market estimate sixfold to $38 billion; ARK Invest […]
Markel Group (MKL) Full-Year 2025 Earnings: The Compounding Machine Cleans House
Four quarters of restructuring, $1 billion returned to shareholders, and an insurance business finally earning its keep. Summary Markel delivered $2.3 billion in adjusted operating income for 2025, up 10% year over year, with every segment contributing ( Markel 2025 Press Release). Q4 combined ratio hit 92.9%—the best quarterly print in years. Ongoing business ran […]
Five Things Worth Knowing About Medpace’s Record 2025
Summary Medpace (MEDP) posted $2.53 billion in full-year 2025 revenue, up 20% over 2024, driven heavily by metabolic trial volume ( Medpace Q4 Press Release). Q4 cancellations hit their highest absolute and percentage levels in over a year, dragging the net book-to-bill ratio to 1.04x versus an expected 1.15x ( Q4 Earnings Call Transcript). The […]
