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Become a Better Investor Newsletter – 28 June 2025

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Noteworthy this week

  • Israel-Iran truce
  • US is the no.1 oil producer
  • US$ down 10% YTD
  • NASDAQ loves July
  • Self-censorship threatens democracy

Israel-Iran truce: Trump sorted out a ceasefire between Israel and Iran, but wasn’t very happy about Israel’s actions following the deal. Let’s see if it holds.

US is the no.1 oil producer: In 2024, the US led all countries in oil production, producing more than Saudi Arabia and Russia combined.

US$ down 10% YTD: The USD has now lost more than 10% of its value this year, its worst first half year in almost 40 years.

NASDAQ loves July: Since 2009, the NASDAQ has shown positive returns in every year except 2024. The average return for the month has been 4.45%. Will July 2025 be positive too?

Self-censorship threatens democracy: Fewer Germans are cautious about freely expressing their political opinion today. This threatens the fundamentals of democracy. Free debate is essential.

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Weekly market performance

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Chart of the week

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Podcasts we listened to this week

#392 Michele Ferrero and His $40 Billion Privately Owned Chocolate Empire – Founders

“You take over the family pastry shop and transform it into one of the most valuable privately held businesses in the world. Your father dies young. Your uncle does too. Everyone is relying on you and this keeps you up at night. You insist on differentiation and refuse to make me too products. You obsess over quality. You run tens of thousands of experiments…”

Listen on Apple or Spotify.

Readings this week

No Stock is Safe

“The bulls will often try to convince you otherwise, but let’s get one thing straight: no stock is ever truly safe.”

Read the article.

Book recommendation

Why? The Purpose of the Universe by Philip Goff

“Why are we here? What’s the point of existence? On the ‘big questions’ of meaning and purpose, Western thought has been dominated by the dichotomy of traditional religion and secular atheism. In this pioneering work, Philip Goff argues that it is time to move on from both God and atheism.”

Get the book on Audible or Kindle.

Audible is great; have you tried it? If not, click here to get 2 books for free.

Memes of the week

New My Worst Investment Ever episodes

Enrich Your Future 35: Market Gurus Are Just Expensive Entertainers

In this episode of Enrich Your Future, Andrew and Larry Swedroe discuss Larry’s new book, Enrich Your Future: The Keys to Successful Investing. In this series, they discuss Chapter 35: Mad Money.

LEARNING: Investors are naive, and Cramer is an entertainer, not a financial advisor who adds value.

Access the episode’s show notes and resources

Published on Become a Better Investor this week

Developed markets are incredibly cheap these days, trading at less than 2x price-to-book value compared to 3.6x for developed markets (which are mainly comprised of the highly valued US).

Read Thai Stocks Must Produce Growth to Spark Interest

We recently applied our FVMR Investing model in Thailand and identified eight stocks that we considered worthy of your further research. Remember that these are not recommendations.

Read FVMR Methodology Reveals 8 Interesting Stocks in Thailand

Thailand serves as a living testament to resilience. Since I arrived in 1992, the country has experienced multiple coups and constitutional changes, yet it continues to function, adapt, and even thrive in the most challenging moments.

Read Thailand’s Unyielding Spirit Brings Resilience and Opportunity

Thailand has overcome considerable challenges before, and I still believe it has the resilience to do so again. However, these three issues — demographics, debt, and education — won’t go away on their own.

Read Demographics, Debt, and Education Failures Threaten Thailand’s Future

Kobe Bussan Company Limited (3038 JP): Profitable Growth rank of 1 was up compared to the prior period’s 2nd rank. This is World Class performance compared to 530 large Cons. Staples companies worldwide.

Read Kobe Bussan – World Class Benchmarking

DISCLAIMER: This content is for information purposes only. It is not intended to be investment advice. Readers should not consider statements made by the author(s) as formal recommendations and should consult their financial advisor before making any investment decisions. While the information provided is believed to be accurate, it may include errors or inaccuracies. The author(s) cannot be held liable for any actions taken as a result of reading this article.

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