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 […]
The Great Software Repricing: Why the $1 Trillion SaaSpocalypse Is a Strategic Gift to Incumbents
Summary Enterprise software stocks lost roughly $1 trillion in market cap as the IGV ETF fell 28% from its peak—its steepest drawdown in over a decade [Fintool]. Microsoft shed $357 billion in a single trading session after its earnings report, the second-largest single-day loss in stock market history [CNBC]. SAP’s shares cratered 15% in one […]
Amazon’s $128 Billion AI Bet: Five Realities From the 2025 Fiscal Year
Summary Amazon spent $128.3 billion on capital expenditures in 2025 , up from $77.7 billion the year before—nearly all of it directed at AI and cloud infrastructure ( Amazon 10-K Filing). A $15.2 billion swing in “Other Income” was driven by unrealized paper gains on Amazon’s $8 billion Anthropic investment—not by retail or cloud cash […]
The Efficiency Engine: 5 Takeaways from Kinsale Capital’s Q3 2025 Results
Operating EPS increased 24% to $5.21, beating analyst estimates of $4.80, with revenue reaching $497.5 million ( Kinsale Q3 2025 Press Release). Combined ratio of 74.9% and nine-month operating ROE of 25.4% demonstrate sustained underwriting excellence ( ). Commercial Property rate declines stabilized from -17% in Q2 to -8% in Q3, signaling a market inflection […]
