When a refinery starts printing money faster than Wall Street can update its spreadsheets, I start wondering whether I'm looking at a bargain or an expensive lesson in cyclical investing. Wall Street Loves a Record Quarter. I Love Asking What Happens Next. There is something wonderfully predictable about Wall Street. A company reports spectacular earnings, financial commentators begin throwing around phrases like "earnings momentum" and "compelling valuation," and suddenly everyone acts as though the business has discovered a permanent method of printing money. Apparently, nobody told the economic cycle that it was supposed to retire. That brings me to Valero Energy (NYSE: VLO), one of America's largest independent petroleum refiners and the latest company to demonstrate just how profitable turning crude oil into gasoline, diesel, and jet fuel can become when market conditions cooperate. On October 22, 2026, Valero reported third-quarter net income of approx...
Dividend Investing | October 24, 2026 For 70 consecutive years, Procter & Gamble has accomplished something remarkably few corporations can claim: increasing its dividend through recessions, inflationary shocks, financial crises, and dramatic changes in consumer behavior. That achievement has made the company a cornerstone of dividend-growth investing and a favorite among investors who value dependable income over speculative excitement. But there is a difference between owning a company with an extraordinary dividend history and purchasing its shares at an attractive valuation. That distinction has become increasingly important in 2026. With the 10-year U.S. Treasury yielding 5.00% as of October 23, investors can obtain considerably more immediate income from government securities than from many established dividend-paying stocks. Meanwhile, rising energy prices, expensive transportation, and pressure on household budgets are challenging the profitability of even the strongest con...