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Globe and Mail
20 minutes ago
- Globe and Mail
Billionaires Are Buying a Popular AI Index Fund That Could Turn $500 Per Month Into $432,300
Key Points Three prominent billionaire money managers bought shares of the Invesco QQQ Trust in the first quarter. The Invesco QQQ Trust is heavily invested in technology stocks likely to benefit from artificial intelligence. The fund achieved a total return of 1,560% in the last two decades, compounding at 15% annually. 10 stocks we like better than Invesco QQQ Trust › The Invesco QQQ Trust (NASDAQ: QQQ) is the fifth-most popular exchange-traded fund (ETF) worldwide as measured by assets under management. Several prominent billionaires added to their positions in the first quarter, as detailed below: Ken Griffin of Citadel Advisors added 2.2 million shares. The Invesco QQQ Trust now ranks as the third-largest position in the hedge fund, excluding options. Israel Englander of Millennium Management added 474,300 shares. The ETF now ranks among the 25 largest positions in the hedge fund, excluding options. Steven Cohen of Point72 Asset Management added 7,950 shares. The ETF remains a relatively small position in the hedge fund. Citadel, Millennium, and Point72 are three of the most profitable hedge funds in history as measured by net gains. That makes all three money managers good sources of inspiration, and individual investors should consider following their lead with this ETF. The Invesco QQQ Trust could turn $500 per month into $432,300 in 20 years. The Invesco QQQ Trust is heavily invested in technology companies likely to benefit from artificial intelligence The Invesco QQQ Trust measures the performance of the Nasdaq-100, an index that tracks the 100 largest nonfinancial companies listed on the Nasdaq Stock Exchange. The ETF has more than 60% of its assets invested in technology stocks, many of which are likely to benefit as the artificial intelligence (AI) revolution continues to unfold. The 10 largest holdings in the Invesco QQQ Trust are listed by weight below: Nvidia: 9.8% Microsoft: 8.7% Apple: 7.2% Amazon: 5.6% Broadcom: 5.3% Alphabet: 5% Meta Platforms: 3.5% Netflix: 2.8% Tesla 2.6% Costco Wholesale: 2.3% AI spending across hardware, software, and services is forecast to grow at 35.9% annually through 2030, according to Grand View Research. Several companies listed above should benefit. Amazon, Microsoft, and Alphabet are the three largest public cloud providers, meaning demand for AI infrastructure should be a tailwind. And Nvidia is the undisputed leader in data center GPUs, the most popular type of AI accelerator. Apple has introduced generative AI capabilities for iPhones. Meta Platforms is leaning on AI to increase user engagement across its social media platforms and improve outcomes for advertisers. Netflix recently started using generative AI to create content for movies and shows. Broadcom is the market leader in AI networking chips and custom AI accelerators, and Tesla recently launched an autonomous ride-hailing service. History says the Invesco QQQ Trust can turn $500 invested monthly into $432,300 in 20 years Excluding dividends, the Invesco QQQ Trust advanced 1,340% during the last two decades, which is equivalent to 14% annually. Including dividends, the index fund achieved a total return of 1,560%, compounding at 15% annually. I will assume a more modest return of 12% annually to introduce a margin of safety. At that pace, $500 invested monthly in the fund would be worth $105,200 in one decade and $432,300 in two decades. Some investors may prefer to save more or less each month, so the chart below shows how different contribution amounts would grow over time, assuming annual returns of 12%. Holding Period $200 Per Month $400 Per Month $600 Per Month 10 Years $42,100 $84,200 $126,300 20 Years $172,900 $345,800 $518,700 Returns were determined using the compound interest calculator. Investors need two more pieces of information. First, the Invesco QQQ Trust has been very volatile in the past due to its heavy exposure to technology stocks. The index fund fell more than 12% from its record high seven times in the last decade. Similar volatility is likely in the future. Second, the ETF has an expense ratio of 0.2%, meaning shareholders will pay $20 per year on every $10,000 invested. Comparatively, the average expense ratio on U.S. index funds and mutual funds was 0.34% in 2024. Should you invest $1,000 in Invesco QQQ Trust right now? Before you buy stock in Invesco QQQ Trust, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Invesco QQQ Trust wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $625,254!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,090,257!* Now, it's worth noting Stock Advisor's total average return is 1,036% — a market-crushing outperformance compared to 181% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 29, 2025 Trevor Jennewine has positions in Amazon, Nvidia, and Tesla. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Costco Wholesale, Meta Platforms, Microsoft, Netflix, Nvidia, and Tesla. The Motley Fool recommends Broadcom and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
CBC
21 minutes ago
- CBC
Vancouver's set to co-host World Cup next year. Who stands to benefit?
World Cup soccer is just a year away from descending on Vancouver. And while some are thrilled about international football stars coming to their backyard, others are concerned about the potential negative effects of hosting one of the biggest sporting tournaments in the world. "There's a concern that the city is really not seeing this as an opportunity to bring the community in ... but an opportunity to shut the community out in order to invite particular kinds of visitors to the expectations of FIFA," Meg Holden, an urbanist at Simon Fraser University, told The Current guest host Catherine Cullen. Holden's concern stems from a 98-page document detailing the stipulations of Vancouver's deal with FIFA to host part of the 2026 World Cup, which was made public on July 15 thanks to a three-year legal battle from independent journalist Bob Mackin. Vancouver and Toronto will both represent Canada as co-host cities during the tournament, jointly hosted in 2026 by Canada, the U.S. and Mexico from June 11 to July 19. But even though just seven games will be played at BC Place in Vancouver, some people have big concerns about its impact on the community, and who will actually see the profits. Branding, traffic, 'beautification' rules applied According to the document, Vancouver will have to enforce what's called a controlled area on a match day, as well as the day before a match day, within two kilometres of BC Place. That means the city will be required to cover up or remove "any advertisement and commercial identification located within the controlled area," though what that will look like is unclear. The document also says that public sales of food, beverages, fan items, souvenirs or similar products in the controlled area "must be in accordance with the restrictions defined, and further instructions provided by FIFA." In an emailed statement to the CBC, the Vancouver Host Committee said the controlled area "is in place specifically for the purpose of preventing unauthorized marketing to ensure protection of the FIFA Intellectual Property (IP), also known as their brand." It said that it will not require businesses in the area to close. City beautification, which involves making the city "as attractive as possible," is also mandatory within that same radius, along with traffic restrictions. Holden says this is especially alarming, as that includes Vancouver's Downtown Eastside, which has struggled with crime and homelessness, and could make life difficult for the most vulnerable. "Air quality inside can be terrible. Air quality outside could be terrible if we have a bad forest fire season. What are the plans to make life tolerable for people?" said Holden. City councillor Mike Klassen told CBC's On The Coast guest host Amy Bell that the city won't displace anyone, including those who live in the Downtown Eastside. Klassen said he wants the city to be "really sensitive and supportive" of people in the downtown core, but also wants to ensure "our city sparkles" as tens of thousands of spectators from around the world are about to visit. WATCH | Vancouver councillor addresses business concerns over FIFA contract: Vancouver councillor addresses business concerns over FIFA contract 11 days ago Cost of doing business FIFA is leaving additional costs for venues, policing, organizing, or security to the city. Organizers estimate it will cost between $532 million and $624 million to host the event in Vancouver. Some of that will be covered by the provincial government. Despite reassurances from the city, Jules Boykoff says residents should be very concerned about what hosting a World Cup event will mean for them. Boykoff is a professor of politics and government at Pacific University in Oregon, and has taken a deep dive into the long-term impacts of mega sporting events. "These sporting events, like the FIFA World Cup of soccer or the Olympic Games, tend to benefit the upper echelons of economic society at the expense oftentimes of working class people in the host city," he said. The province has said it estimates about a million out-of-province travellers will visit Vancouver between 2026 and 2031 because of the event, which will lead to an additional $1 billion in visitor spending. But Boykoff, who has written six books on the impact of the Olympic Games on host cities, finds it's usually the big sponsors who are raking in the extra cash, not local businesses. WATCH | Vancouver's FIFA World Cup contract could affect downtown restaurants: Vancouver's FIFA World Cup contract could affect downtown restaurants 13 days ago "When you look at those rosy forecasts that were made in the bid process for the FIFA World Cup, they've really wilted under the heat of reality," said Boykoff. "I mean, costs are increasing in city after city, and these cities are facing real fiscal pressure." In 2018, Chicago withdrew its bid to host World Cup games, saying it felt FIFA could not provide necessary details around how Chicago residents would be impacted. Then in 2021, Montreal withdrew its bid over a lack of provincial government support. Edmonton had a bid to host games, but wasn't chosen. Meanwhile, Boykoff says the World Cup means big bucks for its host organization. FIFA reported over $7.5 billion US in revenue between 2019 and 2022. PR firm Pitch Marketing Group estimates FIFA's revenue will surpass $10 billion US at the 2026 World Cup. According to Vancouver's 98-page contract, FIFA will keep the revenue from ticket sales and sponsorships. "So they have money and they could spread it around, but they tend to be quite miserly with it and look out for their own interests, not the city in which they're visiting," said Boykoff. City accountability Meg Holden says the City of Vancouver already took a big misstep when it originally promised a field at Memorial South Park as training grounds for the Canadian men's national team, switched to the existing National Soccer Development Centre at UBC following public outcry. The host committee says it's working with major businesses within the area to minimize disruptions, and will be ramping up that outreach to include local businesses, stakeholders and residents over the next year. Holden says the city could benefit from doing something similar to what it did ahead of the 2010 Vancouver Olympics. It hosted a plebiscite about the Winter Games, giving people a chance to voice their concerns and hopes for the big-time event.
Globe and Mail
43 minutes ago
- Globe and Mail
Bogota Financial (BSBK) Q2 Profit Up
Key Points Bogota Financial (NASDAQ:BSBK) returned to profitability in Q2 2025, posting $0.02 in GAAP earnings per share compared to a loss in the prior year. Net interest income (GAAP) climbed 34.7%, as the bank improved its net interest margin and controlled funding expenses. Loan balances and deposits declined modestly, while delinquencies jumped, primarily due to a single large commercial loan. These 10 stocks could mint the next wave of millionaires › Bogota Financial (NASDAQ:BSBK), a community-focused bank serving northern New Jersey, returned to profit in its Q2 2025 earnings released on July 31, 2025, covering the three months ended June 30. The company posted net income of $224,000, or $0.02 per share (GAAP), compared to a net loss of $432,000, or ($0.03) per share (GAAP), in the same period last year. This swing to profit came mainly from a 34.7% jump in net interest income (GAAP) and meaningful reductions in interest expenses. No analyst estimates were available for the quarter, so headline figures stand alone. The quarter saw tangible margin improvement and active cost management, but this was offset by declines in net loans and deposits, as well as a spike in loan delinquencies. About Bogota Financial and Recent Focus Areas Bogota Financial operates as a community bank, with activities centered around traditional personal and business banking, residential and commercial lending, and deposit gathering. Its key business lines involve residential first mortgage loans, commercial and multi-family real estate loans, construction loans, and an array of deposit products targeted to local individuals and businesses. In recent periods, the company has focused on managing its loan portfolio for both quality and yield, especially amid varying demand for residential and construction loans. Growth in consumer and commercial deposits, where it can manage funding costs, remains a core priority. Success is measured by prudent loan growth, cost control, and maintaining strong capital and regulatory ratios. Risk management and asset quality have also taken center stage as the bank navigates a changing interest rate and regulatory landscape. Quarter in Review: Financial and Business Developments Bogota Financial saw a return to profitability, driven mainly by an increase in net interest income (GAAP), which rose 34.7% to $3.7 million from $2.7 million in Q2 2024. This improvement resulted from a higher net interest margin—up to 1.74% from 1.21%—reflecting both lower funding costs and a better loan-deposit mix. Non-interest income, which includes fees, gains from loan sales, and income from bank-owned life insurance, edged up 9.4% (GAAP). Non-interest expense, which covers items like salaries, legal and compliance costs, and branch operating expenses, rose just 3.5% as the company continued cost-control efforts. A notable item was a $543,000 payout from a bank-owned life insurance policy, which provided a one-time boost to non-interest income and net profit for the six months ended June 30, 2025. The efficiency ratio, which compares non-interest expense to total income and measures how much it costs to generate a dollar of revenue, improved to 95.7%, down from a high of 122.3% in Q2 2024. Lower ratios are better in this context, but the figure still indicates high overhead relative to income. Asset figures (GAAP) declined during the quarter. Total assets dropped 5.1% to $921.8 million, and net loans declined as repayments exceeded new loan originations. Residential first mortgage loans, which are standard home loans for consumers, fell by $14.5 million to $458.2 million at June 30, 2025, from $472.7 million at December 31, 2024, while construction loans dropped by $17.4 million to $25.8 million at June 30, 2025, from $43.2 million at December 31, 2024. However, commercial real estate loans and multi-family loans, which are loans on business properties and apartment buildings, each rose modestly—a reflection of the company's focus on higher-yielding segments. Deposits, the key source of funding for the bank's lending business, shrank 2.2% to $628.2 million as nearly every deposit category except savings declined. Certificates of deposit, which are time deposits with a fixed interest rate and term, fell $11.5 million to $481.8 million, while savings accounts grew $4.6 million. The share of brokered deposits, which are funds sourced from third parties and often carry higher interest rates, ticked up to 17.2% of total deposits. The bank's efforts to improve deposit mix and curb funding costs showed results, with the average deposit rate falling to 3.75% in the first half of 2025. Loan and Risk Management, Credit Quality, and Capital Position The loan book experienced some stress during the period. Delinquent loans—those past due or in non-payment status—jumped to $20.4 million, now 2.94% of total loans, up from $14.3 million at year-end 2024. This increase stemmed mainly from a single $7.1 million commercial real estate loan that remains well-secured, according to management, as of June 30, 2025. Non-performing assets, which include loans not generating interest and foreclosed properties, stood nearly unchanged at 1.50% of assets as of June 30, 2025. No loans were charged off during the quarter, and the allowance for credit losses—the reserve set aside for expected loan defaults—held steady at 0.37% of total loans. From a capital and regulatory standpoint, the company reported Tier 1 capital to average assets of 15.32% for the six months ended June 30, 2025, well above required levels. Average equity as a percent of total assets reached 14.96% at June 30, 2025, up from 13.99% at December 31, 2024. Tangible book value per minority share increased to $29.10, supported by continued share buybacks. Management reported, 'Since the IPO, we have reduced our outstanding shares by 1,653,571 and improved our tangible book value per minority share from $22.04 to $29.10.' There were no preferred stock issues and share count dipped modestly due to buybacks. As of June 30, 2024, the company held a 0.86% deposit share in Bergen County. Regulatory compliance and cost-of-risk management remain key focuses, especially given the current environment and the uptick in late-stage loans. No provision was made for credit losses during the quarter; in fact, there was a reported recovery of $80,000 year-to-date as a small reversal of expected losses. The bank continues to have no exposure to commercial real estate loans backed by office properties, a segment that has drawn concern at some other banks. Exposure remains focused on residential, commercial (non-office), and multi-family real estate lending. Brokered deposits, which represented 17.2% of total deposits as of June 30, 2025, rose as a portion of the base, while uninsured deposits accounted for a modest 9.1%. The bank reported no dividend payout for the quarter. Looking Ahead: Guidance and Watch Areas Management did not issue a formal outlook for the next quarter or full fiscal year. Company leadership expressed expectations for loan demand to pick up later in the year and into early 2026, and stated that 'Growth in consumer and commercial deposits is another key initiative as we look to reduce cost of funds.' Focus for the coming quarters remains on expanding the commercial loan and deposit portfolios while maintaining strict credit standards. With loan and deposit balances shrinking and a pronounced increase in delinquencies this quarter, investors may wish to monitor trends in asset quality, origination pace, and funding mix. The absence of explicit forward guidance means future results depend heavily on market demand for loans and the bank's success in stabilizing deposit inflows. BSBK does not currently pay a dividend. Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 1,036%* — a market-crushing outperformance compared to 181% for the S&P 500. They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor. *Stock Advisor returns as of July 29, 2025
