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Become a Better Investor Newsletter – 13 June 2026

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Noteworthy this week

  • US airline fuel costs surge 78%
  • Apple now trades at 10x sales for the first time
  • LLM token spending stalling near cycle highs
  • Hot IPOs are typically a bad deal
  • Stock-bond correlation at its highest since 1999

US airline fuel costs surge 78%: Driven by the Iran war, jet fuel hit US$4.11/gallon in April. Airlines globally face an estimated US$100bn in additional fuel costs for 2026.

Apple now trades at 10x sales for the first time: The price-to-sales ratio has nearly tripled its historical average of 3.6x, marking the highest valuation in company history.

LLM token spending stalling near cycle highs: If token pricing rolls over, it signals weakening demand for AI compute, with knock-on effects across memory, hardware, and data center infrastructure.

Hot IPOs are typically a bad deal: Over the past 40+ years, the average US IPO returned 6.0% annually in its first three years, roughly half the 11.8% return of the broader market.

Stock-bond correlation at its highest since 1999: Stocks and bonds are moving in the same direction, undermining the diversification benefit that traditional 60/40 portfolios rely on.

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Weekly market performance

Chart of the week

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Podcasts we listened to this week

The Journal | Why Sweden Embraced Capitalism

“Sweden, once considered by many as the standard bearer of high-tax and high-spend government, has embraced capitalism. WSJ’s Tom Fairless reports on how the Nordic country privatized large swaths of its healthcare and school systems, promoted business, and shrank the state. Ryan Knutson hosts.”

Listen on Apple or Spotify.

Readings this week

Aswath Damodaran | Revisiting the SpaceX Valuation: A Post-Prospectus Update!

“A few weeks ago, I assessed the value of SpaceX ahead of its initial public offering, with the admission that I was making my estimates with drabs of data, some of it coming from unofficial sources. I also promised to revisit my valuation when the prospectus came out, and now that it has, I will examine how the information it contains has changed my view of the company and its valuation.”

Read the article.

Memes of the week

Published on Become a Better Investor this week

City Developments Limited (CIT SP): Profitable Growth rank of 1 was up compared to the prior period’s 7th rank. This is World Class performance compared to 190 large Real Estate companies worldwide.

Read City Developments – World Class Benchmarking

COSCO SHIPPING Specialized Carriers Company Limited (600428 SH): Profitable Growth rank of 5 was down compared to the prior period’s 4th rank. This is average performance compared to 1,380 large Industrials companies worldwide.

Read COSCO SHIPPING Specialized Carriers – World Class Benchmarking

Hana Microelectronics Public Company Limited (HANA TB): Profitable Growth rank of 7 was down compared to the prior period’s 6th rank. This is below average performance compared to 720 medium Info Tech companies worldwide.

Read Hana Microelectronics – World Class Benchmarking

HD Hyundai Electric Company Limited (267260 KS): Profitable Growth rank of 1 was same compared to the prior period’s 1st rank. This is World Class performance compared to 1,380 large Industrials companies worldwide.

Read HD Hyundai Electric – World Class Benchmarking

Performance review of our strategies in May 2026 – All Weather Inflation Guard gained 1.3%, All Weather Strategy gained 2.6%, All Weather Alpha Focus gained 3.7%.

Read A. Stotz All Weather Strategies – May 2026

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.

Posted in Newsletter