I Have No Excuse . . . July 15, 2026July 15, 2026 . . . for being nearly 11 days late with these first two, but the joy of having no advertisers or editor is that I can be as laggardly as I want. Like our friends (surely you have some) who send their holiday missives in February. And so . . . 1. Trae Crowder found it impossible to enjoy July 4th. Here’s why in under 3 R-rated minutes. 2. Trump will try to steal the mid-terms. Here’s how. Switching gears: YOUR MONEY I think oil prices — and thus inflation — and thus interest rates — will likely rise as Trump bumbles . . . and that the stock market will likely fall. (Needless to say, I’ve been wrong before.) Over the long run, the kinds of crazy speculations I’ve suggested should not be affected. ParkerVision either will or will not eventually see justice done — regardless. Anixa’s drugs either will or will not prove effective — regardless. Oportun either will or will not reach the kind of $3/share earnings per share over the next few years that would justify a much higher price — regardless. And so on. (It’s a long list. Even Borealis and WheelTug are still alive!) Whatever the broader market does, one or more of our speculations could jump 5-fold or 10-fold if we’re lucky. By contrast, it’s hard to picture Tesla, selling at 350X earnings and a $1.5 trillion valuation, having the same kind of upside. It is not the only company that knows how to make good automobiles and won’ be the only company competing to sell humanoid robots. And may not forever have a protector in the White House. CHRB Some of us bought it three years ago at $13.50 a share with the promise of about $6 in dividend payments, which we have received, and a $25 redemption at the end of next month. It’s so thinly traded by now that you can’t buy it (I tried yesterday). I’m not selling it, either. A friend who spoke with their investment relations person recently believes we will soon be offered our choice of redemption — $25 — or an extension of the deal. In my tax-deferred IRA, if we do in fact get this choice, I’ll likely take the money and run. In my taxable account, I may opt to continue to receive my $2.125 a year. For one thing, 8.5% isn’t a bad return. For another, extending my holding period means deferring taxes on the gain. Maybe my friend was misinformed and disaster looms; but I have the happy gene, as you know, so am thinking this could work out.