From our partners at Timothy Sykes When Elon's SpaceX IPO officially hits — which could be just days from now — two things will happen. Elon's 40% stake will immediately earn him around $625 billion in new wealth. Then millions of small investors will buy SpaceX's stock, hoping to strike it rich. Unfortunately, many of them will be disappointed. Because the real money from this SpaceX IPO — the biggest gains — will be made before the stock even hits Wall Street. That's why I'm urging you to take advantage of this pre-IPO SpaceX play while you still can. Sincerely,
Tim Bohen
This Week's Bonus Content Can Capital One Prove Itself in 2026?Submitted by Peter Frank. Posted: 3/29/2026. 
Key Points - Capital One is expanding aggressively, but integration risks and credit trends create uncertainty for near-term profitability.
- The Discover acquisition positions the company as a payments network competitor, potentially reshaping its long-term business model.
- Shares are down roughly 25% this year, reflecting investor caution despite strong revenue growth and projected upside.
- Special Report: Elon Musk already made me a "wealthy man"
 Capital One Financial (NYSE: COF) has a lot to prove this year. The lender and payments company reported higher-than-expected revenue at the end of last year as it continues to digest its $35 billion acquisition of Discover Financial. At the same time, fourth-quarter earnings missed estimates, and the company is now integrating another acquisition. The question is whether the additional business, expected cost savings, and operational efficiencies can translate into meaningfully higher profits and a stronger stock price for shareholders. A Transformational Year Driven by Acquisitions Musk just launched another batch. Bezos secured approval for 50,000 more satellites. Right now, over 15,000 are circling the planet - and that number could triple by next year. The official story is global internet coverage. But a new presentation argues the real implications reach far beyond connectivity - and could change how the market works. Watch the presentation and see what the satellite race really means With the purchase of Discover, which closed in May 2025, Capital One moved from being one of America's largest card lenders to an integrated payments powerhouse. Similar to Mastercard (NYSE: MA), Visa (NYSE: V), and American Express (NYSE: AXP), Capital One now controls the rails that move money between cardholders and merchants. In addition to Discover, Capital One announced an agreement to buy Brex Inc. for $5.15 billion. Bringing on Brex, a fintech focused on startups and growing businesses, introduces another layer of near-term risk. Strong Financial Results Mask Integration Challenges Last year's results suggested the company can absorb a large deal while still delivering financial results. In 2025's fourth quarter, Capital One reported net income of about $2.1 billion and adjusted earnings per share of $3.86. Including Discover, net interest income rose 54% and revenue climbed 53% year over year. Net interest margin improved 123 basis points to 8.26%. For the full year, adjusted earnings per share were roughly $19.61 — a solid showing amid a major acquisition and rising loan-loss reserves. The bank set aside $20.7 billion for potential bad loans during 2025, with the largest increase coming in the second quarter. Pre-provision earnings for the full year rose 30% to $22.9 billion. Stock Performance and Shareholder Returns in Focus The share price has reflected investor uncertainty. The stock is down roughly 25% this year after hitting a 52-week high near $260 in early January. At current levels, analysts rate Capital One as a Moderate Buy, with 16 Buy recommendations and six Holds. The average price target is $275.95, implying upside of about 50% from current prices. While Capital One is not a high-yield dividend stock, it has taken steps for income-minded investors. The company raised its quarterly dividend by one-third to $0.80 per share in late 2025, producing a mid-1% yield at recent prices. The board also approved a new $16 billion share repurchase program in October 2025. Credit Risks and Competitive Pressures Build Even with the potential scale and efficiencies from its acquisitions, the outlook is far from certain. In the fourth quarter, Capital One's provision for credit losses rose to about $4 billion as card delinquencies and charge-offs increased. Because the company's loan book has historically skewed toward mass-market consumers, earnings could be pressured further if unemployment rises or inflation remains sticky. Being a top payments player doesn't eliminate competition. Digital-native lenders, fintech platforms, and other firms in the financial services sector continue to push the boundaries of user experience and pricing. Capital One will need to invest heavily in technology, marketing, and compliance in areas where it hasn't previously competed, and those investments could make it harder to convert revenue growth into margin improvement if the Discover integration proves costlier than anticipated. Investors should also remember the sector attracts scrutiny from banking regulators, antitrust authorities, and policymakers. Any changes to interchange fees, capital requirements, or consumer protection rules — however unlikely — could add further costs. Can Vertical Integration Deliver Long-Term Growth? Even with the Brex deal still pending, the Discover acquisition is what sets Capital One apart from other large card issuers. By acquiring Discover's closed-loop payments network, Capital One now controls both the lending side and the infrastructure that processes transactions. Management cites three primary benefits: network fee revenue, greater cross-sell opportunities between cards and deposits, and cost savings. Already, Discover's student loans and home equity lines have been shuttered, and the combined company has implemented substantial layoffs. Over time, this could shift Capital One from a card-focused lender to a vertically integrated payments and banking franchise. If management executes successfully, Capital One is a company investors will want to watch. | 
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