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bmy.com88 Depositors with balances over N5 million would receive their liquidation payouts, according to the NDIC The NDIC remains committed to protecting depositors from the adverse effects of bank collapses In unexpected times, the NDIC reduces the likelihood of bank runs and fosters trust in the banking sector CHECK OUT: Learn at Your Own Pace! Our Flexible Online Course allows you to fit copywriting skills development around your busy schedule. Enroll Now! Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market. The Nigeria Deposit Insurance Corporation (NDIC) said depositors with balances exceeding N5 million will also be paid from their liquidation dividends. The managing ddirector and chief executive, Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan made this known on the occasion of NDIC’s special day at the ongoing 45th Kano International Trade Fair. He said, PAY ATTENTION : Standing out in social media world? Easy! "Mastering Storytelling for Social Media" workshop by Legit.ng. Join Us Live! “Having largely reimbursed depositors their insured deposits, the corporation is committed to ensuring that depositors with balances exceeding N5 million are also paid the balance of their deposits. These uninsured deposits represent a significant portion of the total deposits in Heritage Bank . Read also Customs alerts Nigerians of plan to auction abandoned vehicles, containers at ports “In this regard, the corporation is already working assiduously to ensure that depositors with amounts in excess of the maximum insured amount of N5 million are paid through liquidation dividends from the realisation of the defunct bank’s assets and recovery of debts. “Additionally, the NDIC’s responsibilities extend to the creditors of the defunct bank, who will receive payments after all depositors have been fully reimbursed. This orderly process, based on asset realisation and priority of claims, is essential in maintaining public trust in the banking system and promoting financial system stability. “The corporation today, 4th December 2024 commenced sales of landed properties and chattels of the bank nationwide. This process, which is by competitive public auction, shall follow laid down extant public procurement guidelines aimed at ensuring transparency, fair competition and accountability to enable recovery of commensurate values from the exercise toward payment of liquidation dividend to the uninsured depositors.” Read also CBN finally addresses reported plan to retire 1,000 employees, offers N50 billion in pay-off According to the MD, by guaranteeing payment in the event of bank failures , the NDIC is still dedicated to shielding depositors from the negative consequences of bank failures. The NDIC, a vital part of the financial safety net, gives depositors peace of mind regarding the security of their money , which promotes confidence in the banking system and lowers the possibility of bank runs in unpredictable times. NDIC moves to Pay Customers Legit.ng reported that the Nigeria Deposit Insurance Corporation (NDIC) has announced that it has finished a statewide assets appraisal of the now-defunct Heritage Bank as part of ongoing efforts to compensate depositors following the bank's collapse. During NDIC's special day at the Lagos International Trade Fair, Bello Hassan, the organization's managing director and CEO, made this news. According to BusineDay, Hassan underlined NDIC's commitment to maintaining the stability of the banking sector, especially in the case of a bank failure. PAY ATTENTION : Legit.ng Needs Your Opinion! That's your chance to change your favourite news media. Fill in a short questionnaire Source: Legit.ngDiscomfort and joy: Finding our inner Joni

The new, 12-team College Football Playoff brings with it a promise to be bigger, more exciting, more lucrative. Perfect or 100% fair? Well, nobody ever believed that. The first expanded playoff bracket unveiled Sunday left a presumably deserving Alabama team on the sideline in favor of an SMU squad with a better record after playing a schedule that was not as difficult. It ranked undefeated Oregon first but set up a possible rematch against Ohio State, the team that came closest to beating the Ducks this year. It treated underdog Boise State like a favorite and banged-up Georgia like a world beater at No. 2. It gave Ohio State home-field advantage against Tennessee for reasons it would take a supercomputer to figure out. It gave the sport the multiweek tournament it has longed for, but also ensured there will be plenty to grouse about between now and when the trophy is handed out on Jan. 20 after what will easily be the longest college football season in history. All of it, thankfully, will be sorted out on the field starting with first-round games on campuses Dec. 20 and 21, then over three succeeding rounds that will wind their way through traditional bowl sites. Maybe Oregon coach Dan Lanning, whose undefeated Ducks are the favorite to win it all, put it best when he offered: "Winning a national championship is not supposed to be easy.” Neither, it turns out, is figuring out who should play for it. SMU quarterback Kevin Jennings passes the ball in the first half of the ACC championship game against Clemson on Saturday in Charlotte, N.C. The Big Ten will lead the way with four teams in the tournament, followed by the SEC with three and the ACC with two. The lasting memory from the inaugural bracket will involve the decision that handed the ACC that second bid. Alabama of the SEC didn't play Saturday. SMU of the ACC did. The Mustangs fell behind by three touchdowns to Clemson before coming back to tie. But they ultimately lost 34-31 on a 56-yard field goal as time expired. “We were on pins and needles,” SMU coach Rhett Lashley said. “Until we saw the name ‘SMU’ up there, we were hanging on the edge. We're really, really happy and thankful to the committee for rewarding our guys for their total body of work." The Mustangs only had two losses, compared to three for the Crimson Tide. Even though SMU's schedule wasn't nearly as tough, the committee was impressed by the way the Mustangs came back against Clemson. “We just felt, in this particular case, SMU had the nod above Alabama,” said Michigan athletic director Warde Manuel, the chairman of the selection committee. “But it’s no disrespect to Alabama’s strength of schedule. We looked at the entire body of work for both teams.” Oregon offensive lineman Iapani Laloulu celebrates after winning the Big Ten championship game against Penn State on Saturday in Indianapolis. Georgia, the SEC champion, was seeded second; Boise State, the Mountain West champion, earned the third seed; and Big 12 titlist Arizona State got the fourth seed and the fourth and final first-round bye. All will play in quarterfinals at bowl games on Dec. 31-Jan. 1. Clemson stole a bid and the 12th seed with its crazy win over SMU, the result that ultimately cost Alabama a spot in the field. The Tigers moved to No. 16 in the rankings, but got in as the fifth-best conference winner. Automatic byes and bids made the bracket strange The conference commissioners' idea to give conference champions preferable treatment in this first iteration of the 12-team playoff could be up for reconsideration after this season. The committee actually ranked Boise State, the Mountain West Champion, at No. 9 and Big 12 champion Arizona State at No. 12, but both get to skip the first round. Another CFP guideline: There’s no reseeding of teams after each round, which means no break for Oregon. The top-seeded Ducks will face the winner of Tennessee-Ohio State in the Rose Bowl. Oregon beat Ohio State 32-31 earlier this year in one of the season’s best games. Texas linebacker Anthony Hill Jr. hits Georgia quarterback Gunner Stockton during the second half of the SEC championship game on Saturday in Atlanta. No. 12 Clemson at No. 5 Texas, Dec. 21: Clemson is riding high after the SMU upset, while Texas is 0-2 against Georgia and 11-0 vs. everyone else this season. The winner faces ... Arizona State in the Peach Bowl. Huh? No. 11 SMU at No. 6 Penn State, Dec. 21: The biggest knock against the Mustangs was that they didn't play any big boys with that 60th-ranked strength of schedule. Well, now they get to. The winner faces ... Boise State in the Fiesta Bowl. Yes, SMU vs. Boise was the quarterfinal we all expected. No. 10 Indiana at No. 7 Notre Dame, Dec. 20: Hoosiers coach Curt Cignetti thought his team deserved a home game. Well, not quite but close. The winner gets ... Georgia in the Sugar Bowl. The Bulldogs got the No. 2 seed despite a throwing-arm injury to QB Carson Beck. But what else was the committee supposed to do? No. 9 Tennessee at No. 8 Ohio State, Dec. 21: The Buckeyes (losses to Oregon, Michigan) got home field over the Volunteers (losses to Arkansas, Georgia) in a matchup of programs with two of the biggest stadiums in football. The winner faces ... Oregon in the Rose Bowl. Feels like that matchup should come in the semifinals or later. Buffalo Bills quarterback Josh Allen, foreground right, dives toward the end zone to score past San Francisco 49ers defensive end Robert Beal Jr. (51) and linebacker Dee Winters during the second half of an NFL football game in Orchard Park, N.Y., Sunday, Dec. 1, 2024. (AP Photo/Adrian Kraus) Houston Rockets guard Jalen Green goes up for a dunk during the second half of an Emirates NBA cup basketball game against the Minnesota Timberwolves, Tuesday, Nov. 26, 2024, in Minneapolis. (AP Photo/Abbie Parr) South Carolina guard Maddy McDaniel (1) drives to the basket against UCLA forward Janiah Barker (0) and center Lauren Betts (51) during the first half of an NCAA college basketball game, Sunday, Nov. 24, 2024, in Los Angeles. (AP Photo/Eric Thayer) Mari Fukada of Japan falls as she competes in the women's Snowboard Big Air qualifying round during the FIS Snowboard & Freeski World Cup 2024 at the Shougang Park in Beijing, Saturday, Nov. 30, 2024. (AP Photo/Andy Wong) LSU punter Peyton Todd (38) kneels in prayer before an NCAA college football game against Oklahoma in Baton Rouge, La., Saturday, Nov. 30, 2024. LSU won 37-17. (AP Photo/Gerald Herbert) South Africa's captain Temba Bavuma misses a catch during the fourth day of the first Test cricket match between South Africa and Sri Lanka, at Kingsmead stadium in Durban, South Africa, Saturday, Nov. 30, 2024. (AP Photo/Themba Hadebe) Philadelphia Eagles running back Saquon Barkley, left, is hit by Baltimore Ravens cornerback Marlon Humphrey, center, as Eagles wide receiver Parris Campbell (80) looks on during a touchdown run by Barkley in the second half of an NFL football game, Sunday, Dec. 1, 2024, in Baltimore. (AP Photo/Stephanie Scarbrough) Los Angeles Kings left wing Warren Foegele, left, trips San Jose Sharks center Macklin Celebrini, center, during the third period of an NHL hockey game Monday, Nov. 25, 2024, in San Jose, Calif. (AP Photo/Godofredo A. Vásquez) Olympiacos' Francisco Ortega, right, challenges for the ball with FCSB's David Miculescu during the Europa League league phase soccer match between FCSB and Olympiacos at the National Arena stadium, in Bucharest, Romania, Thursday, Nov. 28, 2024. (AP Photo/Andreea Alexandru) Brazil's Botafogo soccer fans react during the Copa Libertadores title match against Atletico Mineiro in Argentina, during a watch party at Nilton Santos Stadium, in Rio de Janeiro, Saturday, Nov. 30, 2024. (AP Photo/Bruna Prado) Seattle Kraken fans react after a goal by center Matty Beniers against the San Jose Sharks was disallowed due to goaltender interference during the third period of an NHL hockey game Saturday, Nov. 30, 2024, in Seattle. The Sharks won 4-2. (AP Photo/Lindsey Wasson) New York Islanders left wing Anders Lee (27), center, fight for the puck with Boston Bruins defensemen Parker Wotherspoon (29), left, and Brandon Carlo (25), right during the second period of an NHL hockey game, Wednesday, Nov. 27, 2024, in Elmont, N.Y. (AP Photo/Julia Demaree Nikhinson) Jiyai Shin of Korea watches her shot on the 10th hole during the final round of the Australian Open golf championship at the Kingston Heath Golf Club in Melbourne, Australia, Sunday, Dec. 1, 2024. (AP Photo/Asanka Brendon Ratnayake) Mathilde Gremaud of Switzerland competes in the women's Freeski Big Air qualifying round during the FIS Snowboard & Freeski World Cup 2024 at the Shougang Park in Beijing, Friday, Nov. 29, 2024. (AP Photo/Andy Wong) Lara Gut-Behrami, of Switzerland, competes during a women's World Cup giant slalom skiing race, Saturday, Nov. 30, 2024, in Killington, Vt. (AP Photo/Robert F. Bukaty) New York Islanders goaltender Ilya Sorokin cools off during first period of an NHL hockey game against the Boston Bruins, Wednesday, Nov. 27, 2024, in Elmont, N.Y. (AP Photo/Julia Demaree Nikhinson) Brazil's Amanda Gutierres, second right, is congratulated by teammate Yasmin, right, after scoring her team's first goal during a soccer international between Brazil and Australia in Brisbane, Australia, Thursday, Nov. 28, 2024. (AP Photo/Pat Hoelscher) Las Vegas Raiders tight end Brock Bowers (89) tries to leap over Kansas City Chiefs cornerback Joshua Williams (2) during the first half of an NFL football game in Kansas City, Mo., Friday, Nov. 29, 2024. (AP Photo/Ed Zurga) Luiz Henrique of Brazil's Botafogo, right. is fouled by goalkeeper Everson of Brazil's Atletico Mineiro inside the penalty area during a Copa Libertadores final soccer match at Monumental stadium in Buenos Aires, Argentina, Saturday, Nov. 30, 2024. (AP Photo/Natacha Pisarenko) England's Alessia Russo, left, and United States' Naomi Girma challenge for the ball during the International friendly women soccer match between England and United States at Wembley stadium in London, Saturday, Nov. 30, 2024. (AP Photo/Kirsty Wigglesworth) Gold medalists Team Netherlands competes in the Team Sprint Women race of the ISU World Cup Speed Skating Beijing 2024 held at the National Speed Skating Oval in Beijing, Sunday, Dec. 1, 2024. (AP Photo/Ng Han Guan) Minnesota Vikings running back Aaron Jones (33) reaches for an incomplete pass ahead of Arizona Cardinals linebacker Mack Wilson Sr. (2) during the second half of an NFL football game Sunday, Dec. 1, 2024, in Minneapolis. (AP Photo/Abbie Parr) Melanie Meillard, center, of Switzerland, competes during the second run in a women's World Cup slalom skiing race, Sunday, Dec. 1, 2024, in Killington, Vt. (AP Photo/Robert F. Bukaty) Get local news delivered to your inbox!Cenex, the UK’s first Centre of Excellence for Low Carbon and Fuel Cell technologies joins the Maritime Battery Forum

With 13 newcomers, South Carolina Senate may tackle tough issues

ROSEN, LEADING INVESTOR COUNSEL, Encourages Unisys Corporation Investors to Inquire About Securities Class Action Investigation – UISBy Yoo Sang-im Minister of Science and ICT Historically, scientific and technological innovations have never been confined to specific countries or regions but have been achieved through global cooperation across diverse nations and areas. In particular, global science and technology hubs, where knowledge, information and human capital converge, have provided a fertile ground for groundbreaking research and innovation. Throughout history, notable hubs for science and technology include Ancient Rome, the Arab world, the British Empire, and the United States of America. Rome was the center of ancient science and philosophy; the Arab world led the development of medieval science; the British Empire marked the beginning of the Industrial Revolution and modern research methodology. Since the 20th century, the United States of America has positioned itself at the heart of global research and development through technological innovation. Immediately following the Korean War, the Republic of Korea was one of the world’s poorest nations. However, international scientific cooperation helped it adopt advanced technologies and nurture its industries, evolving into a global leader in science and technology. Today, Korea is actively promoting international cooperation to further elevate itself as a global hub for science and technology. Building on last year’s progress, the Government of Korea has significantly expanded its global R&D investments and launched large-scale international collaborative research projects in critical and emerging technologies, such as AI, biotechnology and quantum. Furthermore, it has hosted major international science and technology events, including the AI Seoul Summit, strengthening cooperation with the global scientific community and expanding its participation in international discussions on science and technology. Since the inauguration of President Yoon Suk Yeol, the Korean Government has made scientific, technological and digital cooperation a key agenda in its bilateral summits, building strategic research cooperation networks with major countries. Korea has also opened the AI Frontier Lab at New York University as a hub for international AI collaboration and will join the Horizon Europe program as an associated member. Korea is set to further expand its leadership in scientific, technological and digital fields in the Asia-Pacific region through the APEC Leaders’ Meeting, which will be held in Gyeongju, North Gyeongsang Province, in 2025. In particular, a new multilateral research and development program is in preparation to foster cooperation among nations in the Asia-Pacific region. At the K-Science and Technology Global Forum held Wednesday, the Ministry of Science and ICT presented a vision for fostering a public-private ecosystem for international scientific and technological cooperation. This vision emphasizes the active role of diverse private-sector entities, including researchers and companies, in driving international cooperation, while relevant government ministries will consolidate their efforts to support private-sector activities in international cooperation. To support these policy directions, the government of Korea expanded its global R&D investments to 1.8 trillion won ($1.26 billion) this year and will announce a Science and Technology Diplomacy Initiative, outlining the national strategy for international scientific cooperation. The government also plans to establish new legislation to promote international scientific and technological cooperation. As Thomas Kuhn, a renowned philosopher of science, once noted, science does not progress via a linear accumulation of new knowledge but undergoes disruptive innovations arising from the cooperation and competition between various stakeholders. The Republic of Korea aspires to become a dynamic platform for such cooperation and competition, where scientists and researchers from around the world will engage in cross-border exchanges. Korea's journey toward becoming a global science and technology hub has only just begun.

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Uber: Biggest Money Is Made When Reasonable Worries Are Exaggerated, My Top Pick For 2025Hegseth meets with moderate Sen. Collins as he lobbies for key votes in the Senate

Whatever 2025 holds for world markets, talk of an end to business cycle investing eerily reflects past periods of hubris and makes all the persistent bullishness seem slightly reckless. The years since 2020 have been extraordinary, with pandemic-distorted supply and demand patterns that are still playing out. Serial geopolitical shocks and mega trends in technology and green energy have followed. Amidst all that, inflation in Western economies recorded its biggest spike in 40 years, and central banks scrambled to snuff it out with the most brutal credit tightening in decades. But setting aside the deep but brief pandemic-induced economic contraction in early 2020, the United States has managed to avoid a recession. And few if any forecasters see one unfolding next year. For BlackRock, the world's biggest asset manager, it is simply different this time. "We've argued since 2020 that we are not in a business cycle," it said in its 2025 outlook. "Historical trends are being permanently broken in real time as mega forces, like the rise of artificial intelligence, transform economies." Ignoring the business cycle is a big call and certainly a brave one at this stage. Yet, looking at the United States over the past few years, it's hard to argue against it. Previously near foolproof bellwethers of cyclical downturns, such as the inverted yield curve or the 'Sahm Rule' on when rising joblessness presages a downturn -- have flashed bright red, but to no avail. US real GDP has expanded continuously since a one-quarter contraction in the first three months of 2022 and as 2024 comes to a close, growth rates are still well above trend at more than 3%. If anything, that looks set to be underscored by both lower interest rates and tax cuts next year. Even the most dogged bears on Wall Street have thrown in the towel, seemingly assured that the services-dominated US economy can sail on unfettered. Most of the big brokers expect further punchy gains for Wall Street stocks in 2025. The already expensive S&P 500, still led mostly by a narrow group of mega-cap tech giants, is set to record its second consecutive year of 25%-plus gains for the first time since 1998. RESONATING MILESTONES All the same, comparisons to the late 1990s should ring some alarm bells. The final years on the last century were certainly different to today but there are also uncanny parallels with the present, including mounting euphoria about a US-dominated technology, a turbulent world economy and seemingly Teflon US growth. The end of the Cold War had given rise to many hubristic books, most famously Francis Fukuyama's bestseller The End of History and the Last Man on the durable triumph of liberal democracy. By the end of the decade, the internet bubble gave vent to endless talk about business cycle being transcended in the face of transformative technology and US exceptionalism. What's more, there were also a few hesitant Federal Reserve interest rate cuts that kept the expansion going before eventually being reversed as the economy dodged turbulence abroad and the domestic bubble grew bigger. The upshot? A tech-led bubble burst in 2000, ushering in three years of consecutive S&P 500 losses -- the longest series of annual downturns since World War II. It took seven years to recover the peaks of 2000, just before the banking crash hit. To be sure, anyone who stuck with durable tech names that survived the dot.com bust made a fortune over the past 20 years. But the business and investment cycle was far from ending. TEFLON ECONOMY So what could go wrong now? Even if there is a cogent argument for continued US economic and market outperformance next year, it's hard to see how America remains entirely insulated if there is significant economic weakness overseas. Asset managers' 2025 outlooks all dwell heavily on the uncertainties surrounding the incoming administration of US president-elect Donald Trump. And they all acknowledge that some type of trade war is in the offing, with China, Europe and even US neighbours Canada and Mexico all in the crosshairs. A global economic hit from tit-for-tat tariff salvos and investment curbs could come back to haunt the United States if it stymies world demand or lifts US prices, causing the Fed to halt or reverse its policy easing. BlackRock's view, for the record, is that the US and global economies may well experience bouts of turbulence in the coming year. But their conclusion is that such moves would only impact tactical trades and that major investment decisions should stay focused on multi-year big themes, such as artificial intelligence and green energy. But even if the United States can remain an "oasis of prosperity", in the words of another famed phrase from the late 1990s, financial distortions could eventually sow the seeds of an eventual fall. Monetary easing around the world has already accelerated, potentially in response to trade fears. This is buoying the dollar and holding down US Treasury yields, too, as investors rotate into what's now become a high-yielding "safe asset". Some argue that inappropriately low US long-term borrowing rates could, by themselves, catalyse a downfall by overheating the economy and further inflating asset bubbles. That scenario suggests that any downturn likely wouldn't come next year. But the rumoured death of the business cycle may yet prove to be greatly exaggerated. Reuters Mike Dolan is Reuters editor-at-large for finance & markets.

Hegseth meets with moderate Sen. Collins as he lobbies for key votes in the Senate

Palantir Technologies ( PLTR 6.22% ) has had an incredible run in 2024. The company has become one of the most talked about platforms fueling the artificial intelligence (AI) narrative, shares of the stock have gained more than 300% this year alone, and it's become a member of the S&P 500 index. But with just a few weeks left in the year, Palantir might have one last big milestone achievement up its sleeve. Below, I'm going to explain why Dec. 13 is an important date for Palantir investors. Let's break down what investors should be on the lookout for and assess if the stock is a good buy right now. What is happening on Dec. 13? This year, Dec. 13 falls on a Friday. And while Friday the 13th is usually affiliated with bad luck or superstition, Palantir investors may have some more good news headed their way. Next Friday, the Nasdaq-100 index is going to be reconstituted. This means that a new selection of companies will be added to the coveted index, replacing stocks that have fallen out of eligibility. This is important, because the Nasdaq-100 is generally affiliated growth stocks and lucrative opportunities beyond the S&P 500. Will Palantir join the Nasdaq-100? On Sept. 6, Palantir announced that it had officially earned entry into the S&P 500. Since the date of that announcement, shares of Palantir have soared by 138% as of market close on Dec. 5. A few months later, Palantir announced that it was changing the stock exchange on which it trades -- moving from the New York Stock Exchange (NYSE) to the Nasdaq. PLTR data by YCharts Since joining the Nasdaq on Nov. 26, shares of Palantir have gained about 10% (as of market close Dec. 5). That's a pretty dramatic move in only seven trading days. In the press release regarding this announcement, management expressed that "upon transferring, Palantir anticipates meeting the eligibility requirements of the Nasdaq-100 Index." While history is no guarantee of future results, the stock's performance following its entry into the S&P 500 and its transition to the Nasdaq serve as a decent proxy for what investors could expect should the company earn a spot on the Nasdaq-100 on Dec. 13. Does joining the Nasdaq-100 make Palantir stock a buy? I think there is a good chance Palantir will be added to the Nasdaq-100 next week and, should that occur, I'd be shocked if the stock doesn't move even higher. But while becoming a member of the Nasdaq-100 is a respectable milestone, such an achievement alone does not make Palantir stock a buy. Instead, investors should look at a combination of the company's growth outlook, Wall Street's take on the company's trajectory, and valuation. As far as Palantir's outlook and Wall Street's opinion are concerned, the company appears well on its way to continue accelerating its top line while growing margins and minting higher profits over the next several years. The primary catalyst fueling this growth is Palantir's Artificial Intelligence Platform (AIP), which has become a game-changing product development for the company over the last couple of years. As such, some of Wall Street's most respected analysts including Dan Ives of Wedbush Securities and Mariana Pérez Mora of Bank of America remain bullish on the stock. The only real concern I have surrounding an investment in Palantir at its current price comes down to valuation. To put it bluntly, a price-to-sales (P/S) multiple of 63.5 and a forward price-to-earnings (P/E) ratio of 149 are not even close to reasonable. In my eyes, the stock has run up so much that it's due for a pullback sooner rather than later. But with that said, I see any potential sell-off as one that will be short-lived, as it will probably be driven by investors taking profits as opposed to panic-induced selling should Palantir face some sort of crisis -- which, as of now, doesn't look likely. While the prospects of inclusion on the Nasdaq-100 is exciting, it's really just another potential milestone in what I see as a long line of more accomplishments to be achieved for Palantir over many years. All told, I'd encourage investors to monitor Palantir and look to use a strategy leveraging dollar-cost averaging over a long-term horizon.