Thank you for sending in your emails!

I have to say, I really appreciate the kind words, questions, and feedback I’ve received.

Please keep the emails coming.

While I can’t respond directly to most emails (due to personalized financial advice regulations), I can respond via this Saturday Q&A email.

Look for your question below!

Do you have price targets for when you want to sell FNMA & NAK when they run? – Tim

Let’s see what the price action is when their respective catalysts get announced.

Fannie Mae (FNMA) – The catalyst is a potential IPO or sale process of the government’s stake.

Northern Dynasty (NAK) – The catalyst is the potential overturning of the EPA’s Pebble Project veto.

Whenever news is released, expect the reaction to be sudden and sharp. Let’s reassess when that happens.

In regards to your Elon compensation article, basically you are saying Tesla success is 100% Musk. No other employees contribute to building the technology or achieving the goals. This compensation package is complete BS unless similar packages are given to every employee involved in creating the technology required. – Brett

I’m definitely not saying Tesla employees don’t matter. Elon isn’t personally building millions of cars, batteries, or robots. The workforce is essential.

What I am saying is that Elon is the single greatest reason Tesla trades at 280x earnings instead of 11x like Ford or 13x like GM.

He set the vision, drove the mission, built an army of loyal followers, and pushed the company into entirely new categories. And on top of that, he’s unmatched at shaping the narrative.

When the car business slows, he shifts attention to robotaxis or Optimus. No one plays that game at his level – not even Jensen Huang or Alex Karp.

At the end of the day, public companies have a fiduciary duty to shareholders. And like him or not, Elon is clearly what’s best for TSLA shareholders because without him Tesla’s stock likely falls off a cliff.

In fact, Elon is so good for Tesla shareholders that those same shareholders just agreed to pay him $1 trillion if he creates an extra $7 trillion in value for them.

That’s not controversial. That’s capitalism – which unfortunately has become a sensitive topic recently.

I just read your “Wipeout” article. I agree allocation is so important. You say your other portfolio is full of high quality long term investments. If possible, could you give a few examples of these and how many stocks you own? – Sharon

Thanks for the question, Sharon! Yes, allocation is incredibly important and often overlooked. People instead prefer to focus on hot tickers and fascinating technology stories.

That’s great until you mis-size a position.

Choose a winner but only invest a few dollars? You’ll barely move the needle.

Choose a loser and invest too much money into it? You could lose everything.

I’m always cognizant of my position sizes. But I also realize the dangers of being too diversified.

Nobody got rich owning everything. That’s why my personal portfolio has a large allocation to the S&P 500, but also a few high quality names that I’ve taken large stakes in – Nvidia (NVDA), Meta (META), and a few cryptos are my largest positions.

I hope this helps!

Loved your note about allocation and surviving mistakes. I started out studying William O’Neill’s CANSLIM approach, including market timing, but I’m torn. James Altucher warns against timing after his story about losing everything in a downturn. What’s your view? Do you use market timing in your own portfolio? And who’s right, O’Neill or Altucher?

Thanks for the question. I actually think both O’Neill and Altucher are right, but in different ways.

O’Neill’s CANSLIM system is powerful because it forces discipline. It gets you out of stocks that are breaking down and keeps you from riding a loser all the way to the bottom. That absolutely matters.

But Altucher’s experience is real too. Nobody consistently nails tops and bottoms. Not me, not you, not the pros. Trying to time every market swing will eventually blow you up.

Here’s how I approach it:

I don’t try to time my long-term portfolio. I stay invested.

But in my Million Mission portfolio – the speculative side – I do respect trends and price action.

That’s where O’Neill’s rules help.

So the short answer: both are right. It just depends on which bucket of money you’re managing.

Regarding small modular reactors (SMRs), Russia just took a huge lead in the miniaturization of nuclear power reactors with the demonstration of their nuclear-powered Burevestnik cruise missile and Poseidon underwater drone. This could have immense commercial implications and would love to have Paradigm’s take (especially Byron King's take) on this. – MR

Your wish is my command. I reached out to Byron. Here’s his response:

Great question... Wide open... I'll consider writing a longer article or two on it...   Off top of head...  USA is waaaaaaaaay behind.  A generation at least... maybe two gens.  This is despite all the vaporware designs of SMRs that we have here in USA.... Sure, the designs might work, but nobody has built them and cranked them into power mode.  So, we really do NOT know how these things will work out...  We're captives of our own history & mistakes... USA led world in nuclear reactor R&D in 1950s - 70s... Then came Jimmy Carter (he and his era)...  Dept of Energy did many things to undo the work of its predecessor Atomic Energy Commission...  Abandoned entire realms of R&D, and killed off entire industrial pipelines, not to mention the "people" angle of universities where you used to go to learn this stuff...  While Soviets (aka Russians) never slowed down...  They were pioneering "small" reactors (of many sizes) all along...  Esp for submarine purposes, and for power generation in Arctic – the Siberia & polar angle.  Russians today have SMRs on barges that they can send to remote sites up North... generate power for habitation, mining, oil production, etc...  Russia has numerous nuclear powered icebreakers... Different design entirely from what's in submarines, and (by comparison) US nuclear powered aircraft carriers.  Another way to say it is that Russia has an establishment... a "complex" of people & industries -- with SUPPLY CHAINS -- that go from design bureaus & universities to industrial plants, trained people, all the way back to mills, mines & ore in the ground. I'd feel better about things if I saw not, 1, 2, 3... but 5, 10, 15 SMR projects up and running, cranking out equipment and generating electrons. – Byron King

What’s your assessment of rare-earth stocks given China’s unpredictability, the new U.S.–Japan agreement, and the broader U.S. push to reduce dependence on foreign supply? – Doug

I like the rare-earth sector given its strategic importance and the renewed emphasis on resource security under the Trump administration. The need for reliable supply chains isn’t going away.

But I don’t like the valuations right now. The space has slipped into bubble territory.

Even MP Materials CEO James Litinsky is warning investors. In a recent CNBC interview, he said he didn’t want “people to get burned,” urging everyone to stay “clear-eyed about the actual structural economics.” On MP’s latest earnings call, he added that “the vast majority of projects being promoted today simply will not work at virtually any price.”

In short: the industry matters, but the current hype does not.

I’d wait for the sector to cool off before getting involved.

Important Update: Follow The Million Mission on Twitter/X

Big news: I just launched a Twitter/X account so you can follow along with The Million Mission in real time. If you want quicker insights, early reactions to breaking news, and a closer look at how I’m navigating the road to $1 million – this is where I’ll be.

Come hang out, ask questions, and follow the Mission as it happens @DavisPWilson.

Another Important Update: ​​The Million Mission website is live!

I’ve gotten plenty of feedback regarding where to find previous alerts. Well, The Million Mission website is finally live and you can check out archived alerts here.

Portfolio Overview

Here’s what I’m currently holding in the Million Mission portfolio:

Fannie Mae (FNMA) – 2,500 shares @ $7.25/share.

Northern Dynasty (NAK) – 5,000 shares @ $1.11/share

Special Shoutouts

A special shoutout to Jerry, Steve, Dennis, and James for the thoughtful emails this week.

And an additional thank you to the plenty of people who emailed in new tickers for the next edition of SMASH/TRASH/STASH.

Thanks for being along for the mission.

Please keep the emails coming.