Market leadership narrows as volatility rises, with shifting sentiment and sector performance offering clues about the strength and direction of the current rally.

In this article, I outline California’s proposed 2026 Billionaire Tax Act — a proposed 5% tax on 200 billionaires — and discuss the pros and cons of the proposal.

While sentiment remains mixed, the stock’s recent stabilization indicates that downside pressures may be easing as the company advances through its multiyear transition.

The stock has come under pressure in recent months as softer clinic traffic, uneven companion-animal demand, and a narrowed full-year outlook weighed on sentiment.

It would turn many into lifetime renters, paying far more for a house than with 30-year financing. It also might be about managing U.S. dominance in global finance.

Security isn’t about spending more, it’s about thinking smarter. A well-organized, discreet collector with photos, receipts, and basic safeguards is far better protected than someone with a vault but no documentation.