The Daily Editor

Hello, this is Hal.

Thank you for always reading my note.

On October 26, 2026, frontier AI development company Anthropic publicly filed its Form S-1, a registration statement for its initial public offering, with the U.S. Securities and Exchange Commission. An application has been made to list on the Nasdaq market under the ticker symbol ANT,

 » Read more about: [1 Stock Per Day PLUS] The truth about the AI market revealed by the Anthropic IPO prospectus. The accounting structure of the '$80.7 billion loss' and the 5 key stocks …  »

How much will the total repayment for a variable rate mortgage increase due to interest rate hikes? In the case of borrowing 40 million yen over 35 years, depending on how interest rates rise, there is a difference of approximately 10.66 million yen in the total amount. Even so, there are cases where it is cheaper than a fixed rate.

 » Read more about: Variable Mortgage Rates: Interest Rate Hikes Lead to a 10.66 Million Yen Difference in Total Repayment  »

The Reserve Bank has been waging a public relations battle to convince Australians that interest rate policy doesn’t primarily work to lower inflation by punishing borrowers. 

This is known by economists as “the cash flow channel”, whereby rising interest rates reduce the amount of free cash households have available to spend. 

Less spending means less demand for goods and services,

 » Read more about: The brutal redistribution at the heart of the RBA's interest rate policy  »

 » Read more about: Warren Buffett hasn’t had water in 48 years, says Ackman. His $1.3B bet on his favorite drink now pays $848M a year  »

 » Read more about: 5 Best High Growth Stocks Outside Big Tech  »

 » Read more about: 5 Best Tech Stocks for the Next 5 Years According to Financial Media  »

When it comes to loans, people naturally focus on interest rates. The lower, the better. This is obvious. The larger the loan amount and the longer the repayment period, the more impossible it is to ignore the difference in interest rates.

However, I try not to compare loans based solely on interest rates.

 » Read more about: I look at monthly cash flow before interest rates  »

 » Read more about: Prediction: A Bear Market Is Coming, and This 1 Investing Move Will Make or Break Your Portfolio  »

Warren Buffett spent the final years of his run as CEO of Berkshire Hathaway (BRKA -0.23%) (BRKB +0.10%) selling Apple (AAPL -1.23%) stock. Even though the conglomerate sold off hundreds of millions of shares,

 » Read more about: Warren Buffett's Apple Bet Is Still Berkshire Hathaway's Biggest Stock Holding at 22% of the Portfolio  »

Donald Trump’s trade wars have largely fallen off the headlines. Fears of new tariffs flare up from time to time when the US president goes off the rails – for instance, threatening to end US trade with countries with which it has a deficit unless the Federal Reserve cuts interest rates.

 » Read more about: The US-China trade war seems to have subsided – but the sense of calm is misleading  »