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Dear Reader,
My name is Marc Lichtenfeld. I'm Chief Income Strategist at The Oxford Club. I've been featured as an income expert by The Wall Street Journal, Bloomberg and Fox Business.
In November 2021, while the Federal Reserve called inflation "transitory," I warned it could exceed 8% within 18 months and favored energy. Inflation reached 9%, and energy became the best-performing asset class of 2022.
Charlie Munger spent a lifetime beside Warren Buffett finding great businesses.
But one of his favorite investments was not Berkshire Hathaway.
It was a little-known $1,000 oil investment he bought in 1962.
According to Munger's account, that small stake later paid about $70,000 a year and roughly $1 million in total after 60 years.
That was Munger's separate historical result. It is not typical, it is not from the recommendation I'm making today, and no one should expect to repeat it.
See why Munger loved this unusual oil income setup
Munger did not run the wells, buy a drilling rig or manage a crew. Yet the checks kept coming as oil was produced.
I have found a different oil income investment available today through an ordinary brokerage account. At the source date, one unit cost less than $15.
It connects investors to interests across more than 17 million gross acres, 28 states and more than 137,000 producing wells.
The income is variable. The unit price can fall. And past oil fortunes do not guarantee a future one.
My presentation explains the structure, why I favor it now and what could go wrong before you invest.
Good investing,
Marc Lichtenfeld
Chief Income Strategist, The Oxford Club
P.S. It has made a distribution every quarter since its 2017 IPO, including during the 2020 oil crash. The amount can change. Watch the full oil income presentation here before it is too late.
Hobby Boom or Travel Bust? Here Are 3 Stocks to Ride the Trend
Authored by Chris Markoch. Originally Published: 10/1/2026.
Key Points
- Bank of America data shows hobby spending rose 7.9% year over year in August 2026, driven by a shift away from travel toward hobbies.
- DICK'S Sporting Goods, Hasbro, and Take-Two Interactive are three market-lagging stocks that could benefit from rising hobby and gaming spending in the fourth quarter.
- Analysts maintain notable upside price targets on all three stocks, ranging from about 24% for DICK'S and Hasbro to over 44% for Take-Two.
- Special Report: One Company Spared After Renewable Credits Get Cut.
Americans love their hobbies. That's what investors could take away from recent Bank of America (NYSE: BAC) data showing that hobby spending grew 7.9% year over year (YOY) in August 2026. That was more than double the 3.4% growth in transactions.
The bank attributes the spending growth to a shift in behavior away from travel. Jet fuel costs are up, as is the price at the gas pump. That has made arts and crafts stores, hobby shops, and outdoor retailers the big winners.
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See what's next for SAGA Metals before the deadline hitsThat's actionable intelligence investors can use. It could partly explain the year-to-date growth in Etsy Inc. (NYSE: ETSY), which is up more than 25%. Analysts suggest there could be more room for ETSY to rise.
If this is a trend, it may be too late for investors to position for it to show up in some companies' earnings, including ETSY's.
However, there are other ways to capture this growth. Here are three hobby stocks that, unlike ETSY, are market laggards and could present investors with significant upside in the fourth quarter.
DICK'S Sporting Goods: An Outdoor Spending Winner Priced Like a Loser
DICK'S Sporting Goods (NYSE: DKS) delivered an earnings report showing sales growth of 5.6% and comparable-sales growth of 4.9%. Notably, sales growth was stronger on a YOY basis.
Much of this strength was attributed to back-to-school shopping for fall sports. However, DICK'S would also be a logical beneficiary of increased spending on outdoor recreational activities.
Strong sales weren't enough to help DKS, which had already started to slide before the report. The company had warned investors about the struggles with its Foot Locker brand. The earnings report reinforced the bearish sentiment.
DICK'S has also made it clear that pricing power is not part of this story. The company said that promotional pressure would persist through at least the fourth quarter. Other issues included excess inventory, cautious consumers, and geopolitical concerns. The company says these issues will show up most in its margins.
The consensus analyst price target of $167.21 offers about 24% upside. That's approximately 45% below the 52-week high, which may not be enough to entice investors who took profits this summer.
But for investors looking to establish a new position, this may be a good entry point, particularly as the company pays a dividend of $5 per share annually.
Hasbro: A Hobby Play Hiding in the Toy Aisle
Hasbro (NASDAQ: HAS) is the only stock on this list that's positive year to date (YTD). However, its 7% YTD increase still lags the broader market.
Most investors know Hasbro as a toy company. However, its fundamentals increasingly suggest that it's a hobby company.
In its second-quarter earnings report, revenue jumped 16.2% YOY to $1.14 billion, beating estimates by about $70 million. Earnings per share (EPS) of $1.28 also topped the $1.16 consensus estimate.
The engine is Wizards of the Coast. Segment revenue rose 27%, led by 32% growth in Magic: The Gathering, the card game that keeps thousands of local hobby shops in business. CEO Chris Cocks argued that Magic should be viewed as a mega-franchise rather than a niche hobby.
Management calls the strategy "GEM Squared." It focuses on products that are gamified, entertainment-driven, multi-purchase, and multi-generational. In plain English, that means toys for grownups.
Hasbro raised its full-year guidance. It now expects revenue growth of 5% to 7% on a constant-currency basis. It also doubled its buyback target to at least $200 million. So why does it lag the market?
Part of the answer is a $56 million write-down on canceled video games. Management also guided Magic lower in the fourth quarter because of a tough comparison and a set launch shifting into early 2027. Several analysts trimmed their price targets in July while maintaining Buy ratings.
Analysts still like the story. The stock carries a Moderate Buy rating and a consensus price target of $109.50. That's about 24% upside from recent trading levels. Twelve of 16 analysts rate HAS a Buy.
The next test comes with earnings, estimated for Oct. 22. Investors will want proof that holiday toy demand can support the Magic story.
Take-Two Interactive: GTA 6 Is Your Bet on Gen-Z Gaming
If investors are looking at hobby spending as a way to broadly capture the Gen-Z crowd, they should think again. The BofA data showed that while Millennials and Gen X consumers are increasing their hobby spending, Gen Z is pulling back.
But one notable exception was gaming. Video game spending among Gen Z increased by more than 20% YOY. That's the core thesis for including Take-Two Interactive (NASDAQ: TTWO) on your Q4 shopping list.
However, you'll need a strong risk tolerance. TTWO is down 19% in 2026, and its losses have accelerated even after it began accepting pre-orders for Grand Theft Auto VI (GTA 6), scheduled for release on Nov. 19.
The issue is that video games are expensive to develop, and GTA 6 is reported to be the most expensive video game ever produced. Like an anticipated movie release, it will take millions of sales to cover those costs.
Adding to the uncertainty, Take-Two's next earnings report is scheduled for Nov. 5, two weeks before the launch of GTA 6. Still, analysts have a consensus price target of $297.47 on the stock, offering investors more than 44% upside.
MarketBeat Week in Review – 10/05 - 10/09
Written by MarketBeat Staff. Posted: 10/10/2026.
Key Points
- Stocks have stayed resilient heading into earnings season despite elevated Treasury yields, oil-price volatility, and upcoming midterm election uncertainty.
- Investors are watching upcoming bank earnings and fresh consumer and producer inflation data ahead of the Federal Reserve's late October meeting.
- MarketBeat contributors covered a wide range of companies, including Nike, NVIDIA, Amazon, Apple, Tesla, Meta, Alphabet, and Constellation Energy, amid ongoing AI-driven market themes.
- Special Report: One Company Spared After Renewable Credits Get Cut.
Stocks remained resilient heading into earnings season despite elevated Treasury yields and oil-price volatility. AI-related stocks continued to support investor sentiment, but upcoming corporate earnings could help determine whether the rally extends through year-end.
We're less than a month away from the midterm elections, which means investors may be starting to consider where they want to be positioned if the balance of power in Washington changes.
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Simple Options Trading For Beginners (Download Link Expires)...In addition to reports from the big banks next week, investors will receive the latest inflation readings at both the consumer and producer levels. These will be among the last key data points before the Federal Reserve meeting in late October, and an unexpected reading in either direction could move markets.
Articles by Thomas Hughes
Nike Inc. (NYSE: NKE) continues to deliver disappointing financial results. But with NKE trading at new lows, Thomas Hughes explained why an improving balance sheet and new products arriving in early 2027 make at least a technical case for the troubled stock.
NVIDIA (NASDAQ: NVDA) sits at the opposite end of investor sentiment. NVDA reached a new all-time high in October, and Hughes provided several reasons why the stock may have more room to run.
BigBear.ai (NYSE: BBAI) shares have fallen sharply in 2026. However, Hughes pointed out several potential catalysts that, combined with high short positioning, could trigger a short squeeze.
Articles by Sam Quirke
Amazon (NASDAQ: AMZN) signed a multiyear deal worth more than $1 billion with chip-design specialist Synopsys (NASDAQ: SNPS). Sam Quirke wrote that the price tag isn’t the most important part of the story. He explained what the deal says about Amazon’s AI ambitions and why it’s about more than any single chip.
Morgan Stanley is still bullish on Apple (NASDAQ: AAPL), but the firm trimmed its price target anyway. Quirke explained the catch behind the call and why the debate over Apple comes down to more than how many iPhones it can sell.
Tesla (NASDAQ: TSLA) beat delivery estimates for the third quarter. But Quirke wrote that the headline number doesn’t settle the debate. He laid out the key questions that remain as investors look ahead to earnings.
Articles by Chris Markoch
Constellation Energy (NASDAQ: CEG) jumped after announcing a nuclear deal with Google. Chris Markoch explained why nuclear uprates matter for AI and whether the stock is a buy after the move.
Constellation Brands (NYSE: STZ) beat earnings estimates, but weak guidance overshadowed the headline numbers. Markoch explained why beer demand is still a problem and what that means for investors.
The AI buildout has a new bottleneck, and it isn’t chips or power. Markoch explained why light is becoming a critical constraint and highlighted three photonics stocks positioned to benefit.
Articles by Ryan Hasson
Even the best stocks need a breather. Ryan Hasson pointed out why this appeared to be the case for Alphabet Inc. (NASDAQ: GOOGL). The stock has been building a base for several months, but Hasson explained why the company’s upcoming earnings report could reinforce its strong fundamentals and support further upside for GOOGL.
While technology stocks have driven much of the market’s gains, Hasson highlighted five oversold areas that could benefit if market participation broadens beyond the sector.
Articles by Leo Miller
Insider sales at one tech giant topped $1 billion, while Berkshire Hathaway bought into a struggling homebuilder. Leo Miller explained what both trades may be telling investors.
Meta Platforms (NASDAQ: META) is building a new enterprise AI platform. Miller explained why it could become the next major pillar of Mark Zuckerberg’s AI vision.
Analysts handed out plenty of upgrades in September, but three tech names stood out. Miller highlighted the stocks that got the most love from Wall Street and what may be driving the bullish shift.
Articles by Nathan Reiff
Acting on insider selling without context can be problematic. This week, Nathan Reiff highlighted three stocks with notable insider selling, but explained why each stock presents a very different investment case.
D-Wave Quantum (NASDAQ: QBTS) launched a beta program for its gate-model quantum simulator. QBTS stock continues to face pressure, as Reiff noted that the milestone supports the long-term investment thesis but is unlikely to drive near-term revenue or earnings.
Consumers know that once inflation pushes prices higher, they rarely go back down. However, Reiff suggested that dynamic could be profitable for investors. This week, Reiff pointed out three service-oriented stocks that can profit from sticky inflation.
Articles by Dan Schmidt
Following its acquisition of Warner Bros. Discovery, Skydance Corp. (NYSE: SKYD) began trading under its new name and ticker symbol. Dan Schmidt explained why an $80 billion debt load means the real work is just beginning for Skydance.
The AI buildout has created a wave of new business for semiconductor companies, with growing margins due to their ability to charge higher prices. However, Schmidt highlighted three AI stocks that have employed different strategies to grow their margins and explained why understanding those strategies is critical to determining whether the stocks are good long-term buys.
Analysts are frequently hesitant to become bullish on beaten-down stocks. That’s why Schmidt argued investors should pay attention to three market laggards that are getting a contrarian vote from analysts.
Articles by Jeffrey Neal Johnson
DraftKings (NASDAQ: DKNG) is pivoting toward prediction markets, a move that could unlock $800 million. Jeffrey Neal Johnson explained how the company is stacking the deck and what the shift could mean for investors.
Disney (NYSE: DIS) is licensing content to Netflix (NASDAQ: NFLX), a move few would have expected a few years ago. Johnson explained why the deal could change the streaming playbook.
An AI game-development deal backed by Alphabet lifted shares of Unity Software (NYSE: U) and put pressure on Roblox (NYSE: RBLX). Johnson explained how the partnership levels up game development and why investors reacted the way they did.
Articles by Peter Frank
Linde (NASDAQ: LIN) is better known for industrial gases than AI. Peter Frank examined how rising AI chip demand could fuel growth and whether that opportunity outweighs concerns about the company’s margins.
Allient (NASDAQ: ALNT) has rallied past analysts’ price targets on strong data center and defense demand. Frank explained why that momentum is raising the stakes and whether record orders can justify the move.
Lemonade (NYSE: LMND) is growing faster, but investors want to see profits. Frank looked at whether the company’s growth signals profits ahead.
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