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Ivik Knudssen-Ostermann, whose company runs boat tours to see Greenland’s glittering blue icebergs, says his bank has told him to expand ahead of an expected influx of tourists after US. President Donald Trump put the island in the global spotlight.

Trump’s comments, coupled with the opening of a new international airport in the capital Nuuk, have already boosted arrivals and more are expected.

“Already now, we are getting many more bookings than we have received earlier, especially because of a man with the last name of Trump. He has really put Greenland on the map once again,” Knudsen-Ostermann, operator of Greenland Cruises, said, standing on the dock of an ice-packed harbor.

Greenland became the focus of international attention in January when Trump’s son, Donald Trump Jr., arrived at the newly opened Nuuk airport.

Since then, the US president has doubled down on his pledge to make the Arctic island part of the United States, as he eyes its vast wealth of rare earth minerals critical for high-tech industries.

Greenland is hoping new airports will bolster its tourism and mining industries to diversify the economy, which is currently reliant on fishing for 95% of its exports.

The country’s vast ice sheet, glaciers, deep fjords and abundance of marine life, including whales, are the key attractions, while pride in the local Inuit culture is also growing.

The opening of the airport in Nuuk in November last year has made travel to the island easier. United Airlines is set to begin direct flights from New York to Nuuk in June, replacing the previous route which required tourists to fly via Copenhagen and transit at the former U.S. military base Kangerlussuaq.

Ilulissat, Greenland’s main tourist hub known for its UNESCO-listed ice fjord, is also due to open a new international airport in 2026, while another international airport is under construction in Qaqortoq in southern Greenland.

“We will see quite a significant growth this summer already,” said Jens Lauridsen, CEO of Greenland Airports.

While the bank is telling Knudsen-Ostermann to get more boats and more people, he says he is cautious.

“I want to see what the new airport brings us, what 2025 brings us. We don’t know the future, so I’m holding back a little,” he said.

Statistics Greenland reported a 14% year-on-year rise in the number of passengers on international flights to Greenland in January. The number of hotel nights has seen a steady increase over the past decade, with 355,000 recorded last year, up from 210,000 in 2014, it said.

Three-quarters of tourism operators reported an increase in bookings in the three months following the opening of Nuuk’s new airport, according to Visit Greenland.

Lars Ipland, a Danish tourist in Nuuk, said Greenland was one of the last parts of the world he hadn’t seen.

“It’s a part of Denmark, so I thought I have to see it. Now with all the attention, you don’t know what’s happening next week or if it’s another flag up here or whatever they decide to do.”

This post appeared first on cnn.com

Violent clashes erupted across several cities in Turkey between opposition supporters and state security forces for a second day, as demonstrators demand the release of Istanbul Mayor Ekrem Imamoglu, according to videos and reports from Turkish media outlets.

Police in capital city Ankara and Istanbul fired tear gas and used water cannons to disperse protesters gathering, social media videos and local media outlets in Turkey showed.

Turkish authorities detained Imamoglu – a key political rival to President Recep Tayyip Erdogan – on Wednesday, as part of corruption and terrorism investigations. Detention orders were also issued for about 100 others connected to the mayor, including his press adviser Murat Ongun, according to state-run news agency Anadolu Agency on Wednesday.

Friday’s protests follow several violent instances on Thursday. At least 16 police officers were injured during clashes with protesters across Turkey on Thursday, according to Turkish Interior Minister Ali Yerlikaya, and at least 53 people were detained. It’s unclear how many protesters were injured during the ongoing protests.

On Thursday, the main opposition Republican People’s Party (CHP) leader, Ozgur Ozel, addressed crowds in Istanbul while on a bus rooftop. “We will not stay home while you keep our elected representative locked up. From now on we are on the streets. They are asking me ‘Are you calling people to take the streets?’ Yes, yes, yes!” Ozel said.

Erdogan has dismissed opposition anger as “theatrics” and “slogans” for which Turkey has no time.

Thousands again protested outside the Istanbul municipality building on Friday, defying a four-day ban on street gatherings in the city, waving Turkish flags and chanting slogans in protest over the decision. Protests led by university students also gathered steam in Ankara and Izmir, where the prohibition is also in effect.

Imamoglu was elected mayor in 2019 and again in 2024. The next presidential vote is scheduled for 2028, but some analysts say Erdogan could call for early elections, which would allow him to bypass term limits.

This post appeared first on cnn.com

Russia and Ukraine traded blame on Friday over an attack on a gas metering station that lies in Russia’s Kursk region, just a few hundred meters from their shared border.

The attack on the facility in Sudzha comes just days after the US proposed both sides pause attacks on energy infrastructure.

The Russian Defense Ministry claimed Kyiv had “deliberately attacked” the station, which has been under Ukrainian control since Ukraine launched a surprise incursion into Kursk in August 2024.

Moscow claims Ukrainian forces blew up the facility while “retreating from the Kursk region” with the aim of “discrediting the US president’s peace initiatives.”

Kyiv has described those accusations as “groundless” and claimed they are aimed at discrediting Ukraine and misleading the international community.

“Indeed, the station has been repeatedly shelled by the Russians themselves,” Ukraine’s General Staff said in a Telegram post on Friday.

According to the Ukrainian military, Russia struck the same station with missiles as recently as three days ago.

“The attempts by the Russians to deceive everyone and pretend that they are adhering to the ceasefire will not work, (neither) will the fake news about the strikes on the gas station,” Ukraine’s Presidential Chief of Staff Andriy Yermak posted on X Friday.

The Sudzha gas metering station was the last route through which Russian natural gas was delivered to Europe through Ukraine. Natural gas transportation through Sudzha was terminated on the morning of January 1, 2025, after Kyiv refused to renew the contract.

The attack on the station comes more than a week after the announcement by Russian forces that they had recaptured Sudzha, the largest town that Ukraine has occupied during its incursion into Kursk. Ukraine’s occupation of parts of Kursk is seen as its sole territorial bargaining chip amid pressure to negotiate an end to the war.

Russian President Vladimir Putin agreed to temporarily halt attacks on energy targets in Ukraine after a lengthy telephone call with President Donald Trump on Tuesday, though he stopped short of signing off on a broader ceasefire to end the three-year-long conflict in Ukraine.

On Wednesday Ukrainian President Volodymyr Zelensky said he would support a pause on striking energy targets after his phone call with Trump.

This post appeared first on cnn.com

Self-proclaimed misogynist Andrew Tate is back in Romania along with his brother Tristan to report to the police, following a trip to Florida that triggered a state-level criminal probe.

The online celebrity, who has amassed a massive following peddling sexist content about male dominance, is facing charges over human trafficking and forming an organized criminal group with his brother in Romania. They have denied all wrongdoing.

The pair, both dual British and American citizens, left Romania late last month after prosecutors lifted a travel ban on them. They flew to Florida, only to find themselves subject to a new criminal investigation by state authorities there.

They spoke to reporters Saturday after returning to Romania.

“We’re here to clear our names and exonerate ourselves,” Andrew Tate said, speaking outside his house in Bucharest.

“After all we’ve been through, we truly deserve the day in court where it is stated that we’ve done nothing wrong and that we should never be in court in the first place.”

He referred to allegations against them as “garbage.”

The Tates are required to regularly check in with police. Their next check-in is due on March 24, according to Reuters.

Earlier Friday, Andrew Tate posted a picture of the pair on the flight, saying: “Innocent men don’t run. THEY CLEAR THEIR NAME IN COURT.”

“Spending 185,000 dollars on a private jet across the Atlantic to sign one single piece of paper in Romania,” he wrote.

Romanian authorities arrested the brothers in December 2022 and placed them under police custody. They were later placed under house arrest.

Prosecutors in Romania accused them of forming an organized criminal group that stretched across the country, as well as the United Kingdom and the US, trafficking women and sexually exploiting them with physical violence and coercion.

Andrew Tate is also accused of raping one of the alleged victims. Separately, the two faced an investigation into allegations of human trafficking of minors and sex with a minor lodged against the brothers.

Andrew and Tristan Tate have denied all allegations of wrongdoing, with Andrew writing on X that the brothers “have always been innocent.”

Days after they arrived in Florida late last month, Florida Attorney General James Uthmeier announced an active criminal investigation into the brothers, led by the Office of Statewide Prosecution. Florida has “zero tolerance for people who abuse women and girls,” he added.

The brothers’ defense attorney accused Uthmeier of throwing “ethics law out of the window.”

The brothers are also being investigated for allegations of rape and human trafficking in the UK, where they have also denied wrongdoing.

Andrew Tate also faces a civil suit there by four women, accusing him of rape and coercive control.

This post appeared first on cnn.com

US President Donald Trump said he thinks Vladimir Putin wants peace. Ukraine and its European allies don’t believe he does, while the Russian leader himself said he wants peace but then refused to sign up to it when presented with the option.

What Putin really wants, though, is much, much bigger.

The Russian president has made no secret of the fact that he believes Ukraine should not exist as an independent state and he has repeatedly said he wants NATO to shrink back to its Cold War-era size.

But more than anything, he wants to see a new global order — and he wants Russia to play the starring role in it.

Putin and several of his most trusted allies emerged from the remnants of the KGB, the Soviet-era intelligence agency. They have never forgotten the humiliation of the fall of the Soviet Union and are not happy with the way the world has turned out since then.

Putin rose to power during the chaos of the 1990s, when the Russian economy collapsed and had to be rescued by the International Monetary Fund and the World Bank – another humiliation for the former superpower.

But from 2000, when Putin became president, steadily rising oil prices made Russia and many Russians richer than ever before. And Russia had a voice. It was invited into the G7 group of the world’s largest economies – renamed the G8 after it joined.

“Putin was happy to throw all that away on behalf of his citizens because of higher geopolitical aims,” Berzina said. Russia was expelled from the G8, sanctioned by the West and ostracized on the global stage because of its aggression against Ukraine.

Berzina said it was never good enough for Russia to be “the eighth in the G7.”

“That doesn’t work within Russia’s understanding of its own exceptionalism. It is the largest country in the world, the richest in (natural) resources, so how can it simply be one of the players?” she said.

To understand what Putin wants from the current talks with the US, it’s key to remember that the two sides are talking because the United States made a policy U-turn under Trump — not because of a fundamental change in Russian thinking.

Trump wants the war in Ukraine to end as soon as possible, even if it means further territorial losses for Ukraine.

This means Putin has little to lose from talking.

Trump has claimed that “Russia holds all the cards” in the war with Ukraine, but the battlefield has been mostly stalled for the past two years.

While Russia is making some incremental gains, it is definitely not winning – though this could change if the US was to stop supplying arms and intelligence to Ukraine.

For Putin and the people around him, Trump’s push for a ceasefire simply presents an opportunity to secure quick wins while keeping an eye on the long-term goals, he said.

“Putin is an opportunist. He likes creating dynamic, chaotic situations, which throw up a whole variety of opportunities. And then he can then just pick which opportunity appeals to him, and he can change his mind,” Galeotti said.

Long term plan

Putin and his aides have made it very clear that their long-term goals have not changed. Even as they talk about wanting peace, Russian officials have continued to insist that the “root causes” of the conflict in Ukraine must be “eliminated.”

In the Kremlin’s view, these “root causes” amount to Ukraine’s sovereignty and its democratically elected President Volodymyr Zelensky, as well as NATO’s expansion to the east in the past 30 years.

Putin ordered the full-scale invasion of Ukraine in February 2022 to force a regime change in Kyiv, planning to install a pro-Moscow government. His goal was to turn Ukraine into a vassal state like Belarus and prevent it from joining the European Union and NATO in the future.

He has not achieved that goal by using military force, but that doesn’t mean he has abandoned it.

Instead, he might try to achieve it by other means.

“The easiest way for Russia to attain what it wants in a different country is not through military means, but through interference and electoral process,” Berzina said, adding that it is possible – even likely – that this is what Moscow would try to do after a ceasefire was in place.

This is likely why Russia keeps questioning Zelensky’s legitimacy and pushing for an election – and why Kremlin was delighted when Trump adopted this narrative and called the Ukrainian leader “a dictator without elections.” Ukraine’s martial law – imposed because of Russia’s aggression – prohibits elections from taking place while the conflict is ongoing.

Trump and his vice president, JD Vance, have rejected the idea that Ukraine could join NATO any time soon and Putin has asked for a US commitment that this will not happen to be part of any ceasefire agreement.

But Berzina said that Ukraine’s European allies are not buying Putin’s promises that he would stop fighting if Ukraine became – as he called it – neutral.

“No matter what Trump and Putin think they can arrange this week or this year, many people in Europe now find Putin fundamentally untrustworthy,” she said.

“Could there be a desire for Russia to try its hand again militarily? Sure. And that is why the Europeans are very clear-eyed on the potential for future military engagement.”

It’s all personal

Andrei Soldatov, a Russian investigative journalist and security expert who lives in exile in London, said Putin and his aides believe they can “try to get something out of Trump right now.”

“They think they can win some tactical battles but that he would not give them what they really want, which is a complete rearrangement of security arrangements in Europe,” he said.

Russia’s wariness of the US goes far back.

“It’s very personal to them because they were all young KGB officers back then, and they lost their social standing, they lost a place in Russian society, they lost the country as they describe it now, and it was extremely humiliating,” Soldatov said.

“They really believe that the West has been after the complete destruction and subjugation of Russia for centuries. It’s not just propaganda, they really, really believe in this.” But Putin has also framed his plan for Ukraine within his own – inaccurate — interpretation of history, which goes well beyond the fall of the Soviet Union. Putin has often argued that Ukraine is not a real country because Ukraine and Ukrainians are part of a larger “historical Russia”

Experts say this is, of course, nonsense.

“What he’s talking about is the fact that Russia and Ukraine and Belarus share a political ancestor called Rus … but it’s very much not the same thing as any modern country. It was an early to late medieval political entity and to say that Ukraine doesn’t have a right to exist because of this shared ancestor — no country looks the same as in the 10th century,” said Monica White, an associate professor in Russian and Slavonic Studies at the University of Nottingham.

Putin has also often turned to Russia’s religious identity in support of his plan. The leader of the Russian Orthodox Church, Patriarch Kirill, is one of the loudest supporters of the war.

“After the fall of the Soviet Union, Russia lost its connection with the ancestral Orthodox lands and I think part of Putin’s project is to try to bring back that thread connecting 10th century Rus with this pure orthodox continuity,” White said. “What he’s doing is actually not so different from some of the early Romanov Tzars who kept trying to get back the Orthodox lands that were under either Ottoman or Catholic rule, and they eventually did.”

Putin’s overwhelming desire is to return Russia to the global stage with a bang, she suggests – by creating a wedge between Europe and the US and teaming up with the West’s other adversaries.

“Russia wants to be at all the important tables – so whatever comes next, maybe it doesn’t have to mean territorial conquest in Europe, but I think it does have to be in a starring role in the more powerful bloc, if it sees that to include China or Iran or others, a bloc that is defined by its willingness to disrupt and destabilize,” White added.

Putin clearly believes that Russia – the largest country in the world by area – should be involved in running the world. He might have a like-minded man in the White House. Trump has made it clear that he believes the biggest and most powerful countries should get what they want – whether it’s Greenland, the Panama Canal, or a chunk of Ukraine.

“I think that the fundamental point is that, as far as Trump is concerned, Ukraine is a bought and paid for vassal state and has to understand its place and accept that, essentially, America will work out some kind of a deal with Russia and then bring it back to Ukraine,” Galeotti said.

This post appeared first on cnn.com

Investors have closely watched Nvidia’s week-long GPU Technology Conference (GTC) for news and updates from the dominant maker of chips that power artificial intelligence applications.

The event comes at a pivotal time for Nvidia shares. After two years of monster gains, the stock is down 15% over the past month and 22% below the January all-time high.

As part of the event, CEO Jensen Huang took questions from analysts on topics ranging from demand for its advanced Blackwell chips to the impact of Trump administration tariffs. Here’s a breakdown of how Huang responded — and what analysts homed in on — during some of the most important questions:

Huang said he “underrepresented” demand in a slide that showed 3.6 million in estimated Blackwell shipments to the top four cloud service providers this year. While Huang acknowledged speculation regarding shrinking demand, he said the amount of computation needed for AI has “exploded” and that the four biggest cloud service clients remain “fully invested.”

Morgan Stanley analyst Joseph Moore noted that Huang’s commentary on Blackwell demand in data centers was the first-ever such disclosure.

“It was clear that the reason the company made the decision to give that data was to refocus the narrative on the strength of the demand profile, as they continue to field questions related to Open AI related spending shifting from 1 of the 4 to another of the 4, or the pressure of ASICs, which come from these 4 customers,” Moore wrote to clients, referring to application-specific integrated circuits.

Piper Sandler analyst Harsh Kumar said the slide was “only scratching the surface” on demand. Beyond the four largest customers, he said others are also likely “all in line looking to get their hands on as much compute as their budgets allow.”

Another takeaway for Moore was the growth in physical AI, which refers to the use of the technology to power machines’ actions in the real world as opposed to within software.

At previous GTCs, Moore said physical AI “felt a little bit like speculative fiction.” But this year, “we are now hearing developers wrestling with tangible problems in the physical realm.”

Truist analyst William Stein, meanwhile, described physical AI as something that’s “starting to materialize.” The next wave for physical AI centers around robotics, he said, and presents a potential $50 trillion market for Nvidia.

Stein highliughted Jensen’s demonstration of Isaac GR00T N1, a customizable foundation model for humanoid robots.

Several analysts highlighted Huang’s explanation of what tariffs mean for Nvidia’s business.

“Management noted they have been preparing for such scenarios and are beginning to manufacture more onshore,” D.A. Davidson analyst Gil Luria said. “It was mentioned that Nvidia is already utilizing [Taiwan Semiconductor’s’] Arizona fab where it is manufacturing production silicon.”

Bernstein analyst Stacy Rasgon said Huang’s answer made it seem like Nvidia’s push to relocate some manufacturing to the U.S. would limit the effect of higher tariffs.

Rasgon also noted that Huang brushed off concerns of a recession hurting customer spending. Huang argued that companies would first cut spending in the areas of their business that aren’t growing, Rasgon said.

This post appeared first on NBC NEWS

Nvidia CEO Jensen Huang on Thursday walked back comments he made in January, when he cast doubt on whether useful quantum computers would hit the market in the next 15 years.

At Nvidia’s “Quantum Day” event, part of the company’s annual GTC Conference, Huang admitted that his comments came out wrong.

“This is the first event in history where a company CEO invites all of the guests to explain why he was wrong,” Huang said.

In January, Huang sent quantum computing stocks reeling when he said 15 years was “on the early side” in considering how long it would be before the technology would be useful. He said at the time that 20 years was a timeframe that “a whole bunch of us would believe.”

In his opening comments on Thursday, Huang drew comparisons between pre-revenue quantum companies and Nvidia’s early days. He said it took over 20 years for Nvidia to build out its software and hardware business.

He also expressed surprise that his comments were able to move markets, and joked he didn’t know that certain quantum computing companies were publicly traded.

“How could a quantum computer company be public?” Huang said.

The event included panels with representatives from 12 quantum companies and startups. It represents a truce of sorts between Nvidia, which makes more traditional computers, and the quantum computing industry. Several quantum execs fired back at Nvidia after Huang’s earlier comments.

A third panel included representatives from Microsoft and Amazon Web Services, which are also investing in quantum technology and are among Nvidia’s most important customers.

Nvidia has another reason to embrace quantum. As quantum computers are being built, much of the research on them is done through simulators on powerful computers, like those that Nvidia sells.

It’s also possible that a quantum computer would require a traditional computer to operate it. Nvidia is working to provide the technology and software to integrate graphics processing units (GPUs) and quantum chips.

“Of course, quantum computing has the potential and all of our hopes that it will deliver extraordinary impact,” Huang said on Thursday. “But the technology is insanely complicated.”

Nvidia said this week that it will build a research center in Boston to allow quantum companies to collaborate with researchers at Harvard and the Massachusetts Institute of Technology. The center will include several racks of the company’s Blackwell AI servers.

Quantum computing has been a dream of physicists and mathematicians since the 1980s, when California Institute of Technology professor Richard Feynman first proposed the idea behind a quantum computer.

While classical computers use bits that are either 0 or 1, the bits inside a quantum computer — qubits — end up being on or off based on probability. Experts predict that the technology will be able to solve problems with massive amounts of possible solutions, such as deciphering codes, routing deliveries or simulating chemistry or weather.

No quantum computer has yet beat a computer at solving a real, useful problem. But Google claimed late last year that it discovered a way to do error correction.

One question at the panel centered around whether quantum computing might one day threaten companies like Nvidia that make computers based on transistors.

“A long time ago, somebody asked me, ‘So what’s accelerated computing good for?’” Huang said at the panel. Accelerated computing is a phrase he uses to refer to the kind of GPU computers that Nvidia makes.

“I said, a long time ago, because I was wrong, this is going to replace computers,” he said. “This is going to be the way computing is done, and and everything, everything is going to be better. And it turned out I was wrong.”

This post appeared first on NBC NEWS

You already know about diversification. You’ve set your investment goals, picked a benchmark, and decided on the weighting of your allocations. Now, it’s come down to selecting the assets—stocks or ETFs—to build your portfolio.

As a long-term investor with moderate risk tolerance, how might you build a portfolio to withstand market drawdowns and weather the business cycle?

There are many ways to do this. Here are a few ideas to consider.

S&P Sectors: How Are They Performing and Where Are They Going?

FIGURE 1. RRG CHARTS OF S&P SECTOR ETFS RELATIVE TO THE S&P 500. This image shows you the one-year progression of each sector, indicating the stage of leadership they might be headed.

If you’re looking to diversify by sector, it helps to know where each one has been, performance-wise, and toward what state of leadership they might be entering. Which stocks are Improving, Leading, Weakening, and Lagging?

This is where RRG Charts (specifically RRG S&P 500 Sector ETFs) come in handy. By giving you a dynamic view of sector movement over time, RRGs can help you time your entries to match your strategy—whether you want to buy strength or take a more contrarian approach and buy weakness.

You might also want to view sectors in terms of relative performance. PerfCharts are a useful way to see how each sector is performing against other sectors.

FIGURE 2. PERFCHARTS OF 11 S&P SECTORS. Sectors are sorted from outperforming (left) to underperforming (right).

PerfCharts show that over the past year, Utilities, Financials, and Communications Services have led the market, while Materials, Technology, and Health Care have lagged. If you were looking to shift your portfolio toward greater sector diversification, this chart would prompt a few questions:

  • Should you be overweight, underweight, or equal weight in your exposure to certain sectors?
  • Do you think the outperforming sectors will retain their leadership levels over the coming quarters, or are they overvalued?
  • Are the laggards undervalued, or might there be further downside in the long-term?

Combining RRG and PerfCharts can provide plenty of context for evaluating whether to enter, exit, or rebalance your positions.

From Sector to Industry to Individual Stocks

One question that’ll likely be on your mind is whether you should invest in individual stocks within a given sector or in a sector index ETF.

If you click the sector names in the Sector Summary tool, you can zoom in on the industries. Select the industry and you’ll get a list of all the stocks within that industry. The charts above tell you how the sectors are performing relative to one another.

If you decide to buy stocks for your sector allocation instead of sector ETFs, then you might want to know how a given stock is performing relative to its a) sector, b) industry, and c) a broader market benchmark like the S&P 500.

Here’s an example. Suppose you decide you want to invest in a stock in the Consumer Staples sector. You decide on Sprouts Farmers Market (SFM) which has a high StockChartsTechnicalRank (SCTR) score. Take a look at this daily chart.

FIGURE 3. DAILY CHART OF SFM. You want to see how SFM is performing against its sector, industry, along with the broader market.

Here are a few key points to note. Based on a one-year view…

  • The Consumer Staples sector (XLP) is underperforming its peers and the S&P 500 by around 4% (as shown in the PerfCharts example above).
  • However, SFM is outperforming its sector (XLP) by over 118%, its industry Food Retailers & Wholesalers ($DJUSFD) by over 104%, and the S&P 500 ($SPX) by over 107%.

If you’re seeking Consumer Staples exposure, should you invest in XLP for a potential turnaround or in SFM, a sector leader with strong momentum?

This is an example of only one way to employ a diversification strategy. You can diversify among stocks vs. bonds, growth vs. value stocks, or emerging vs. developed markets, and many more.

What About Rebalancing?

Market shifts can misalign your portfolio with your strategy, making periodic rebalancing essential for maintaining diversification.

Remember that diversification isn’t about managing and not eliminating risk. You might consider hedging strategies like options or alternative asset exposure like gold, commodities, or crypto during longer downturns. How often should you rebalance? It depends—some do it on a set schedule (every six months or a year), others adjust when allocations drift too far, or after major market events shake things up.

At the Close

Building a diversified portfolio takes a lot of planning, but it doesn’t have to be overly complicated. StockCharts gives you several tools to analyze, select, and build your portfolio. Use the tools to your advantage, and remember to stay flexible, as market conditions perpetually change, prompting you to rebalance from time to time.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

In the rural town of Petersham, Massachusetts, 78-year-old Peter George keeps 1,000 fish in his basement.

“Baseball, sex, fish,” he says, listing his life’s great loves. “My single greatest attribute is that I am passionate about things. That sort of defines me.”

All of George’s fish are endangered Rift Lake cichlids: colorful, freshwater fish native to the Great Lakes of East Africa. Inside his 42 tanks, expertly squeezed into a single subterranean room, the fish shimmer under artificial lights, knowing nothing of the expansive waters in which their ancestors once swam, thousands of miles away.

Due to pollution, climate change and overfishing, freshwater fish are thought to be the second most endangered vertebrates in the world. In Lake Victoria, a giant lake shared between Kenya, Uganda and Tanzania, over a quarter of endemic species, including countless cichlids, are either critically endangered or extinct.

But for some species, there is still hope. A community of rare fish enthusiasts collect endangered species of freshwater fish from the lakes and springs of East Africa, Mexico and elsewhere, and preserve them in their personal fish tanks in the hope that they might one day be reintroduced in the wild.

“I’m a hard ass,” George says. “There is hope.”

Insurance

George has been collecting fish since 1948 when, as a four-year-old in the Bronx, he would look after his grandmother’s rainbow fish. He soon developed “multiple tank syndrome” – a colloquial term used by fish collectors to denote the spiral commonly experienced after acquiring one’s first tank, which involves the sufferer buying many more tanks within a short space of time. He has not stopped collecting since.

Now, George sees himself as a conservationist; his tanks contain what is known as “insurance populations” – populations of endangered fish that are likely to go extinct in their natural habitats. He believes that when the time is right, they can be taken from his collection and returned to their homes. “I would never accept the fact that they couldn’t be reintroduced,” he says.

Other fish collectors aren’t so bullish. “God bless those people that think that we can reintroduce these fish,” says Pam Chin, owner of 2,000 cichlids kept in her custom “fish house,” and founder of “Babes in the Cichlid Hobby,” a group representing the tiny minority of women collectors, “but my past experience with it was not successful.”

Chin was involved in a reintroduction effort for a cichlid species in Lake Malawi in 2019, but she says logistical obstacles have meant that no one has returned to see if the population survived. Soon after reintroducing them into the lake, Chin saw the same fish pop up on the European fish collectors’ market.

“You bring the population back and the collectors just go back in and collect it up,” she says, frustrated. And that’s on top of legal restrictions around reintroduction, she explains, as well as the possibility that the old habitats are now too polluted, taken over by other fish, or destroyed. Many freshwater fish are highly endemic; the entire range of a species is often as small as a football field. When it’s gone, it’s gone. Other reintroductions have had, according to Chin, “questionable” levels of success.

However, along with Babes in the Cichlid Hobby, Chin has raised more than $200,000 for cichlid conservation. “A species in a tank is better than no species at all,” she says. “Because still, in the back of our hearts, we hope someday that they could be reintroduced.”

Hope

Michael Köck is at the forefront of reintroducing goodeids, an endangered freshwater fish found in Mexico, and founder of the Goodeid Working Group (GWG), a worldwide collaboration between fish hobbyists and scientists.

Formerly an aquarium curator in Vienna, Köck now lives and works in Mexico, on the frontline of the goodeids’ fight for survival.

Behind big round glasses, he recalls his youth when he would wander the forests of Austria, encountering springs bursting with biodiversity. “I just want to keep part of the paradise that I had when I was a child,” he says.

He believes he is on the way to achieving his goal. Köck, along with Chester Zoo in England and Michoacana University in Mexico, is behind what he says is the world’s only successful reintroduction of goodeids from captive populations – that of the Tequila splitfin, a small, gray fish with a bright orange lining on its tail. In 2021, Köck’s project became the first-ever successful reintroduction in Mexico of a fish classified as extinct in the wild, and the GWG has since been involved in reintroductions of other freshwater fish elsewhere in the country. Köck is in the process of replicating the process with more species.

“We have a recipe for bringing one species back,” Köck says. “We can change the course of the planet. We can turn the wheel around and make it a place where kids can go to swim in a river that’s full of native fish.”

It’s a message echoed by the institutions with whom Köck, and his team of hobbyists, work.

“There are species that would have become extinct if they had not been maintained by dedicated individuals and zoos,” says Becky Goodwin, aquarist at Chester Zoo.
“(But) any individual, whether it is a person at home or an institution, doesn’t have the capacity to hold viable and healthy populations alone. This is why larger collaborations are so important.”

All Köck needs, he says, is for other fish collectors to hold firm, and to collaborate with dedicated institutions when the time is right. “There’s always hope,” he insists.
“At the moment it’s not possible (to reintroduce all the fish), but keep them as long as possible, and in the future there will be a chance.”

Motivation

With emotion clear in his voice, Michael Tobler, a goodeid collector in St Louis, Missouri, comes closest to explaining why the resolve of the community is so strong. “They’re like a friend,” he says of his fish, “I don’t want them to go.”

And then there are the human connections found in online forums and annual conventions, where animated conversations about fish stretch long into the night. Collectors exchange childhood memories of their grandmothers’ fish tanks, or the time they spent in forests and creeks, where springs were rich with wildlife. And, above all, they discuss their hope for the future – the same hope cultivated by conservationists of every animal, from the mightiest rhino to the smallest, grayest fish: that one day their species will be back in the wild.

“You just have to control what you can control,” says George. “I get satisfaction out of being able to do what I can do rather than focusing on the frustrations of not being able to do pretty much anything else.”

So, when he wakes on another Massachusetts morning, George descends the stairs to his basement and spends the next few hours tending to his fish in their glass tanks – feeding them, purifying their water, ensuring their species never die. And the same daily process is undergone by thousands of collectors around the world – all patiently biding their time.

“It’s really weird to get infatuated with tiny little gray fish, right?” Tobler says. “But luckily some people do.”

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For the mayor of London, it’s clear that the rush of Americans applying for British citizenship is connected to the return of Donald Trump to the White House.

Americans applied for British citizenship in record numbers last year, according to Britain’s Home Office, with a big spike in applications logged during the final quarter — a period coinciding with Trump’s reelection.

Speaking at the MIPIM real estate conference in Cannes, France, last week, Khan recalled teasing former Canadian Prime Minister Justin Trudeau during Trump’s 2017-21 presidential term: “I wanted all the Americans who were leaving America. And he was saying, no, he wanted all the Americans leaving America.”

Now that Canada is very much in Trump’s crosshairs — the US president has repeatedly said the country should become America’s “51st state” — Khan believes London has the stronger hand: “I suspect those Americans are probably not choosing Canada and choosing London.”

More than 6,000 Americans applied for British citizenship in 2024, the most since the Home Office began tracking applications two decades ago. Around 1,700 of those applied during the last three months of the year, almost 40% more than in the same period in 2023.

There is no love lost between Trump and Khan. In a high-profile spat in 2019, Trump called Khan a “stone-cold loser” after the mayor criticized Britain’s decision to invite Trump for a formal state visit.

Khan, London’s mayor since 2016, wrote in The Observer newspaper ahead of the visit that it was “un-British to be rolling out the red carpet” for a US president who amplified the views of the far-right. And the year before, Khan gave his permission for protesters to fly a 20-foot-tall “Trump baby” balloon near Britain’s Houses of Parliament during Trump’s first presidential visit to the United Kingdom.

During a state visit, foreign leaders are welcomed to Britain by the reigning monarch and are treated to a carriage procession to Buckingham Palace and a grand banquet. Last month, Prime Minister Keir Starmer — who, like Khan, belongs to Britain’s center-left Labour Party — handed Trump an invitation from King Charles III for the second state visit.

“America is a superpower,” he said. “Just like we feel the ripples of hope and optimism from America, we can often feel the ripples of hatred and negativity.”

Still, the mayor’s approach to Trump appears softer this time around.

“I wish President Trump all the best,” he said, stressing that the two countries are “best mates.” “I hope he’s a successful president. I love America. I love American culture, American people, American politics, American businesses and so, of course, I wish him well.”

But Khan did not rule out allowing another “Trump baby” balloon to fly over London during the president’s next visit, saying he would respond to any applications from protesters “based on (their) merits.”

“Satire and humor and protest are quintessentially British — and actually American —traits,” he said. “Watch ‘Curb Your Enthusiasm.’”

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