Why Washington Is Suddenly Focused on Seabed Minerals

Nearly 20% of the world’s oil passes through a single shipping route.

Critical minerals face similar concentration risks.

As the U.S. moves to secure new supply chains, attention is turning to seabed resources in the Pacific. See how one small company is positioning itself early.

Read the Strategic Minerals Report →

BREAKING NEWS

📉 Billionaire Discovers BOGO Marketing

Bill Ackman, the billionaire activist investor famous for massive bets and even bigger egos, just launched the most aggressive retail investor pitch we've seen in years: a literal "Buy One, Get One" deal on his hedge fund empire.

The Setup:

Ackman is launching two stocks simultaneously.

1. Pershing Square USA (PSUS), a $50-per-share closed-end fund that mimics his hedge fund strategy.

2. Pershing Square Inc. ( PS), the actual parent management company.

3. The Sweetener: Buy 100 shares of the fund at IPO, get 20 "bonus" shares of the management company completely free. Wall Street just discovered Costco's marketing playbook.

The Track Record (Actually Impressive):

• According to SEC filings, $1 invested in Ackman's fund at inception in 2004 grew 27x.

• The S&P 500 only multiplied 9x over the same period.

• He made massive, high-conviction bets on companies like Alphabet, Universal Music Group, and Nike. The man can pick stocks.

📈 The Bull Case: Retail investors normally can't access elite hedge funds that require millions in minimums and charge brutal "2 and 20" fees (2% management fee, 20% of profits). This IPO democratizes access. Plus, you get ownership of the lucrative management company for free.

📉 The Bear Case: Ackman already tried launching this exact fund in 2024 and had to embarrassingly cancel the IPO when major investors backed out. Also, it's a closed-end fund, which historically trades at discounts to their actual asset value immediately after going public. Analysts are already warning retail to "avoid both" IPOs, calling the BOGO deal a gimmick masking structural problems.

The Munch Take: Ackman's track record is legitimate. 27x returns over 20 years beats almost everyone. But he's packaging this as a "retail-friendly" offering after institutional investors rejected it last year. Closed-end funds almost always trade below their net asset value, meaning you'll likely lose money immediately even if the underlying investments perform. The "free" management company shares are bait. If this was such a screaming deal, why didn't institutions pile in when he tried this in 2024? Hard pass.

STOCK OF THE DAY

🍕 The Gas Station Pizza Empire Crushing Wall Street

Casey's General Stores isn't a gas station. It's a high-margin pizza restaurant brilliantly disguised as a convenience store, and it's been absolutely destroying the S&P 500 for 36 years while nobody was paying attention.

The stock's up 27,169% since 1988. That's not a typo. A gas station that sells pizza in towns with populations of 4,000 has averaged 23.8% annual returns, more than double the S&P 500 over the same period. Your fancy tech portfolio wishes it had these numbers.

The Secret Weapon (It's Pizza):

Casey's is technically the fifth-largest pizza chain in the United States. They figured out that rural, small-town America has zero competition. When you're the only option in a 30-mile radius, you're not a gas station—you're the local restaurant, grocery store, and fueling station all at once. Monopoly vibes, legally.

The Recent Flex:

They just crushed Q3 earnings, delivering $3.49 per share versus Wall Street's $2.90 expectation. Net income skyrocketed 49.3% year-over-year. While everyone's panicking about stagflation and oil prices, Casey's is out here selling pepperoni slices and printing money.

They're also aggressively buying competitors like Bucky's and CEFCO, expanding across the Midwest and Texas like a rural empire.

📈 The Bull Case (Dividend Machine):

• Casey's has increased dividends for over 25 consecutive years, making them nearly a Dividend Aristocrat.

• They generate staggering free cash flow, their balance sheet's fortress-level strong, and institutions own 85% of shares because smart money recognized this years ago.

• By dominating small towns where Costco and Walmart refuse to build, they operate local monopolies selling stuff people buy every single day: gas, coffee, food. It's boring, predictable, and wildly profitable.

📉 The Bear Case (Priced for Perfection):

• The stock's trading at 41x earnings. That's expensive even for a compounding machine.

• If they miss an earnings target, this thing could correct violently.

• Also, fuel margins have seen downward pressure recently. If summer travel slows or consumers tap out, it'll hurt.

The Munch Take: A gas station pizza company has returned 27,169% while fancy tech stocks come and go. Buffett would love the business model. Rural monopolies selling everyday essentials with 25 years of dividend raises, but would hate the 41x P/E price tag. At this valuation, you're paying for perfection. The business is legitimate, but waiting for a 20-30% pullback to buy might be the smarter play. Either way, respect to everyone who bought this in 1988 and held. You're richer than most venture capitalists.

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