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A few things moving today including APT up 8% on the back of a Morgan Stanley target price upgrade and the Affirm (BNPL company) IPO in the US (up 98% on day one). Banks also on the rise on broker research suggesting a return to 70% payout ratios and PME up on a contract win (and Chris has done a new STOCK WATCH video about it today in the TRADING IDEAS section). Meanwhile today's podcast provides a bit of education about the limits of fundamental analysis. You can't identify stocks like APT when they don't have any earnings, but there is money to be made. You just have to ignore the Buffettesque approach to stock analysis sometimes, it blinds you to concept stocks and relies on what is "known", when share prices move on what is "unknown". Essential training for Marcus Today Members.