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Abilene Christian University, a private Christian university in Texas, returned 13.6% over the 10 years through June 2026, versus 9.1% for a benchmark of 70% global stocks and 30% bonds, and its 20-year average was 10.9%. By comparison, Yale’s $44.1 billion endowment returned 9.4% over the decade through June 2025, while ACU returned 11.4% over the same period. ACU’s endowment of a little over $1 billion is run by ACIMCO, a university-controlled investment company, with a little more than half in private investments. Its president, Joe Lee, credits long-term, equity-focused decisions and says a smaller endowment can pursue opportunities of $100 million that larger funds overlook. Reed College, with an endowment of $885 million, also beat Yale’s returns in each of the past three fiscal years.
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- Pre-IPO Anduril Stock Climbs 50% in 5 Months
Anduril has filed notice of a tender offer that would let some employees sell stock and options, valuing the company at roughly $90 billion. That is 48% above the $61 billion valuation from a May 2026 funding round and about three times its June 2025 level. Reuters projects $4.3 billion in sales this year, which the author calculates at about 21 times sales, and estimates Anduril will lose $1 billion this year, with a first profit possibly not before 2030. Anduril also plans to spend $3.7 billion on a shipyard producing submarine parts for the U.S. Navy, a highly capital-intensive project. The author admires the company but argues that as an IPO and a stock, Anduril is likely to look vastly overpriced.
- Forget GLD. Investors Sent $500 Million to the Cheaper SPDR Gold Fund
Investors put $499.8 million into SPDR Gold MiniShares Trust (GLDM) as of October 14, 2026, versus $181.5 million into the much larger SPDR Gold Shares (GLD). GLDM charges 0.10% a year against GLD's 0.40%, which means $10 versus $40 in annual fees on every $10,000 invested. GLD remains far more liquid, with roughly $1.66 billion traded by mid-afternoon Thursday against about $184 million for GLDM. The article says GLDM suits long-term and new-money buyers, while GLD's liquidity and options market matter more to active traders and options writers. Selling appreciated GLD outside a tax-sheltered account can trigger tax at up to 28%, so investors should review each lot first.
- Nasdaq Jumps Past 1 Percent as VIX Swings While Dow Dips Below Its 50 - Day Line
The Nasdaq Composite rose 1.11% and the S&P 500 gained 0.66% in a session led by big tech, while the Dow Jones Industrial Average slipped 0.07% and settled just under its 50-day EMA near 52,010. The VIX fell 1.55 points to 18.44, even as the Nasdaq-100 volatility gauge jumped 4.24 points. The indexes closed at 7,709.63 for the S&P 500, 26,430.89 for the Nasdaq Composite, 51,966.03 for the Dow and 2,728.30 for the Russell 2000. WTI crude closed at $98.41 per barrel and gold at $4,157.80 per ounce, while the 10-year Treasury yield rose to 5.14%. The article also covers Lockheed Martin and F.N.B. Corporation, which reported third-quarter net income of $152.9 million, or $0.43 per diluted share.
- 44% Of Americans Have Trouble Paying For Basic Necessities As Lifetime Cost Of The American Dream Tops $5 Million
A Pew Research Center survey found 44% of Americans had trouble paying for at least one basic necessity in the past year, and 27% could not pay some monthly bills in full. An Investopedia analysis puts the lifetime cost of the American Dream at $5.32 million in 2026, up 4.1% from $5.11 million a year earlier, with homeownership costs rising 7.7%. The article reports consumer prices rose 0.6% in September and 3.7% over 12 months, above the 3.6% economists expected, mainly due to energy costs. It adds that the 6.32% mortgage rate used in its homeownership estimate no longer applies, because average 30-year mortgage rates are now well over 7%.
- Pfizer Stock Is Finally Showing Signs of Life. Could This Be the Start of a Much Bigger Rally?
Pfizer shares, long overlooked despite solid fundamentals and an attractive valuation, have climbed 18% so far this year, their best performance since 2021, though they remain about 30% lower over five years. The article suggests investors may be rotating from tech into healthcare, citing recent moves in two exchange-traded funds. Pfizer's yield of 5.8% is more than five times the S&P 500 average of 1%. Its trailing P/E of 37 looks high because restructuring and impairment charges weigh on earnings, but its forward P/E of about 10 suggests the stock is still undervalued. The author believes the market will eventually recognise this, although long-term growth questions remain.
- Federal deficit last year was largest since pandemic and voters are noticing
The U.S. federal deficit reached $2 trillion in fiscal year 2026, its highest level since 2021 and more than 6% of GDP, while interest costs alone exceeded $1 trillion, or about $3 billion per day. Treasury Secretary Scott Bessent blamed tariff refunds, the Iran war and high interest rates, and said economic growth would lower the deficit-to-GDP ratio. Many experts doubt growth alone can solve the problem, pointing to an aging population, fewer workers and projected deaths exceeding births within four years. A poll cited by the Peter G. Peterson Foundation found that 92% of voters are concerned debt is pushing up inflation, and 84% say a plan to address it is a deciding factor in supporting a candidate. Social Security and Medicare are projected to become insolvent in 2032 and 2033, and fiscal watchdogs are urging Congress to act.
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