1. Petrobras demonstrates strong financial performance with resilient margins and production growth, yet trades at distressed valuations compared to global peers; 2. Political risks contribute to the discount, but fundamentals remain robust with high dividend yields, low debt (net debt/EBITDA 1.0x), and a profitable offshore portfolio; 3. A $111B 2029 investment plan balances pre-salt oil leadership and energy transition, offering 50–70% upside potential at current prices for patient investors.

1. Lululemon's resilient business model and strong brand are undervalued despite recent stock underperformance, offering long-term potential; 2. International store expansion and superior ROIC per store highlight significant growth potential before market saturation; 3. Cyclical headwinds and macro uncertainty have impacted results, but improving consumer sentiment and potential rate cuts may drive recovery, with a DCF analysis supporting a 26% upside and a Strong Buy rating.

1. British American Tobacco's stock is considered overbought after doubling in price, with a potential 10%+ pullback anticipated; 2. The current 5.5% dividend yield is deemed less attractive compared to lower-risk alternatives like money market funds offering 4.2%; 3. Full valuation reflects slow revenue growth, high debt levels, and heightened bullish sentiment, suggesting a market peak and prompting the author to sell and await a significant dip.

1. The S&P 500 has been in a secular bull market since its generational low in March 2009, with large-cap growth and tech-driven momentum stocks dominating returns. 2. Small and mid-cap stocks, along with equal-weighted indices, continue to underperform, reminiscent of the late 1990s market dynamics. 3. Current market sentiment fluctuates rapidly between extremes of greed and fear, contrasting sharply with the more stable optimism of the 1990s bull market.

1. Microsoft's strong earnings report suggests limited future upside due to its already high valuation; 2. Margins, rather than revenue growth, are critical for returns and may have peaked; 3. The author advises a neutral stance despite Microsoft's leadership in software and cloud markets.

1. Amazon's current P/E ratio is lower than during the 2022 market panic triggered by inflation; 2. Despite lukewarm short-term sentiment, the company's fundamentals and long-term value creation remain strong; 3. Aggressive R&D and project investments are temporarily limiting share price growth but positioning Amazon for future expansion.

1. Renewed market optimism followed US-mediated Israel-Iran ceasefire; 2. Nasdaq and S&P 500 hit record highs amid improved sentiment; 3. US Dollar initially surged but retreated as risk appetite strengthened post-ceasefire.

1. The author argues Celestica is significantly overvalued due to its low gross margins (10%) and inability to invest in building competitive advantages; 2. Despite improved operating margins and upbeat FY2025 guidance, the stock's recent rally is deemed unsustainable given weak R&D spending and lack of innovation; 3. The bearish thesis emphasizes that Celestica’s fundamentals do not justify its current valuation, despite short-term price fluctuations.

1. The author argues that even professionals struggle to outperform the market, advocating for a focus on quality dividend stocks; 2. Two undervalued dividend stocks are highlighted, offering strong income potential and long-term upside due to market pessimism; 3. Despite risks, the reward potential is deemed to outweigh the risks, presenting a contrarian opportunity.

1. The market experienced a volatile week, starting with an advance and ending with a selloff. Tariffs and inflation were key factors affecting market sentiment. 2. The S&P 500 and Nasdaq Composite both fell, with the S&P 500 down -1.5% and the Nasdaq down -2.6%. 3. The Fed's preferred inflation gauge, the core personal consumption expenditures price index, rose 0.4% M/M in February, higher than the consensus estimate.

1. Investor sentiment towards Snowflake has improved recently, likely due to concerns about competition and open data formats. 2. The company expects its core business to remain stable, with new products driving growth acceleration in the second half of the year. 3. Achieving growth in the current environment is challenging, especially if financial markets weaken, and SNOW's high valuation means failure to meet expectations could be penalized.

1. Despite a 5% pullback from its all-time high, the S&P 500 remains up 1.2% this year, yet investor sentiment has plummeted. 2. The CNN Fear & Greed Index has plunged into Extreme Fear territory, and the percentage of bears has risen to a multi-year high. 3. Economic indicators show signs of strain with disappointing retail sales, a contracting service sector PMI, and a significant increase in the trade deficit.

1. Major U.S. indices showed mixed activity, with the Nasdaq falling over 2% and the Dow Jones and S&P 500 declining above 1.75%. 2. President Trump's proposed tariffs on auto, semiconductor, and pharmaceutical imports dominated market sentiment, raising concerns about a trade war and supply chain disruptions. 3. Corporate news included Alibaba's 10% surge after strong Q3 earnings and Walmart facing scrutiny over potential Chinese tariff exposure. 4. The 10-year Treasury yield rose to 4.57% as Fed minutes highlighted inflation risks from tariffs. 5. Bitcoin soared above $97,300 as crypto ETFs gained institutional investor interest.

1. The S&P 500 index experienced a loss of -1.7% for the week, with the tech-heavy Nasdaq Composite slumping -2.5%. 2. U.S. President Trump announced potential tariffs on imports of cars, semiconductors, and pharmaceuticals. 3. The Fed's January monetary policy committee minutes indicated a desire to see further progress on inflation before adjusting interest rates.

1. Stock index futures fell due to a failed spending bill, raising concerns of a government shutdown and impacting market sentiment. 2. President-elect Trump threatens tariffs on the EU unless it buys more U.S. oil and gas, escalating trade tensions. 3. EU approves Nvidia's acquisition of Run:ai, alleviating competition concerns and bolstering Nvidia's AI capabilities.

1. Bitcoin is approaching a terminal high around $100,000, driven by market sentiment and the halving event, but a crash is imminent. 2. The Trump news cycle has boosted Bitcoin, but this effect is fading; expect a pre-empted peak before the inauguration. 3. The author sold Bitcoin near $100,000 and still holds Ethereum cautiously, with Solana being the one to watch.

1. Manhattan's real estate market is improving with a bottom in the lease market; 2. Redeveloping obsolete properties could significantly improve income; 3. Even without redevelopment, the baseline scenario is sustainable for the preferred dividend burden; 4. The current yield on the preferreds implies similar credit risk to typical US home buyers.

1. The article discusses the negative impact of poor vehicle delivery numbers and the departure of Tesla's CIO on TSLA shares. 2. It anticipates that the upcoming Robotaxi event will further disappoint investors. 3. The author suggests that the stock should be sold due to bearish sentiment in the market.

1. Chinese monetary stimulus acts as a strong re-rating catalyst for Alibaba; 2. Signs of a paradigm shift in market sentiment with David Tepper investing heavily in China-related assets; 3. BABA stock valuation is attractive and no longer a value trap, with a catalyst for a material re-rating; 4. Bullish technicals relative to the S&P 500 and potential for outperformance; 5. Expecting a rebound in Chinese retail sales and monitoring US Fed's policy decisions for clues on Chinese rate decisions.

1. AppLovin's stock price surge is attributed to rapid revenue growth, enhanced operating leverage, and new opportunities; 2. Bullish sentiment from Wall Street figures and significant stock momentum suggest further growth; 3. Forward P/E and DCF models indicate potential undervaluation with a target price of $156.