“Our holdings, which I always believe to be on the conservative side compared to general portfolios, tend to grow more conservative as the general market level rises.”
~Jeremy C. Miller
Unexpected Articles from this Week
NASA’s James Webb Space Telescope has recently unveiled several unexpected discoveries in the universe, including the earliest and most massive galaxies ever found which appear to be far more mature than anticipated. This could suggest that the scientific community is missing essential information to our understanding of the universe, and could require new forces and particles. Read more here.
US banks are increasingly concerned about the potential impact of declining commercial real-estate values on their balance sheets. Loan loss provisions and higher borrowing costs could lead to a refinancing crisis for property owners, with nearly $450 billion in commercial real estate debt due for repayment in 2023. Executives are worried about the potential for contagion from the office sector, which could lead to a confidence crisis. Read more here.
Starting May 1, the upfront fees for home loans backed by Fannie Mae and Freddie Mac will be changing due to changes in Loan Level Price Adjustments (LLPAs). These changes will mostly affect the fees associated with credit scores and down payment sizes, meaning those with higher credit scores may end up paying more while those with lower credit scores will pay less. It is important to take into account these changes when considering buying a home, as the fees can add up to thousands of dollars in closing costs. Read more here.
Researchers have identified a new degradation mechanism for the two components used in the light-absorbing layer of organic solar cells that reduces the efficiency of the solar cell when exposed to sunlight. This degradation involves the twisting of the polymer chain of the electron donor material, leading to an extremely rapid deactivation pathway. In order to improve the stability of the solar cell, future research will focus on designing new electron donor materials with more rigid polymer backbones. The findings of this research could bring the next generation of photovoltaic materials and applications closer to reality. Read more here.
Researchers have developed Polybot, a new scientific tool that combines artificial intelligence and robotics to accelerate the discovery of wearable biomedical devices, materials for better batteries and more. Using AI and robots, the tool can quickly prepare and print a polymer solution, measure key features, assemble multiple layers together and measure electrical performance. It could reduce the cost of complex projects from millions to thousands of dollars and drastically reduce the discovery process from years to months. Read more here.
What I am reading
What I am reading
•Construction Productivity – Structural Steel (Article)
•The Art of Execution (Book)
•Investing for Growth (Book)
•Build a Business, Not a Job (Book)
If you are looking for an investment in your startup, please tell me about your project.
As always – I would enjoy hearing from you (what you found interesting, the format of this email, notes from your own explorations, etc.), feel free to just respond to this email.
Until next week,
Ian Eliason