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$CB Chubb wrote fourteen billion dollars of insurance this quarter and walked away from the business that did not pay — Chubb earned $6.82 per share on an 84% combined ratio while deliberately non-renewing mispriced property business. The underwriting culture is the moat. • $RVMD Pancreatic Cancer Just Got Its First Real Punch Against KRAS. The Survival Numbers Are Not Small. — Daraxonrasib delivered a hazard ratio of 0.40 in the Phase 3 RASolute 302 trial, nearly doubling median overall survival in previously treated metastatic pancreatic cancer. Gene rates RVMD a Buy. • $IDYA IDEAYA's Eye Cancer Drug Just Got the Biggest Stage in Oncology. The Scoreboard Looks Real. — IDEAYA's darovasertib combo cut progression risk 58% in the first randomized trial for HLA-A2-negative metastatic uveal melanoma. Now the full dataset heads to ASCO's main stage. • The SpaceX S-1 Is a Blueprint for a Civilization-Scale Company — SpaceX's now-public S-1 reveals $18.67B in revenue, a $1.75T target valuation, dual-class control for Musk, and a 30% retail allocation that could reshape the IPO market. • $TSLA Tesla's Robotaxi Just Went Unsupervised in Three Texas Cities. The Price War With Waymo Is Already Over. — Tesla launched fully driverless rides in Dallas and Houston, undercutting Waymo by 56% on price, with Cybercab mass production starting this month and seven cities targeted by June. • $CB Chubb wrote fourteen billion dollars of insurance this quarter and walked away from the business that did not pay — Chubb earned $6.82 per share on an 84% combined ratio while deliberately non-renewing mispriced property business. The underwriting culture is the moat. • $RVMD Pancreatic Cancer Just Got Its First Real Punch Against KRAS. The Survival Numbers Are Not Small. — Daraxonrasib delivered a hazard ratio of 0.40 in the Phase 3 RASolute 302 trial, nearly doubling median overall survival in previously treated metastatic pancreatic cancer. Gene rates RVMD a Buy. • $IDYA IDEAYA's Eye Cancer Drug Just Got the Biggest Stage in Oncology. The Scoreboard Looks Real. — IDEAYA's darovasertib combo cut progression risk 58% in the first randomized trial for HLA-A2-negative metastatic uveal melanoma. Now the full dataset heads to ASCO's main stage. • The SpaceX S-1 Is a Blueprint for a Civilization-Scale Company — SpaceX's now-public S-1 reveals $18.67B in revenue, a $1.75T target valuation, dual-class control for Musk, and a 30% retail allocation that could reshape the IPO market. • $TSLA Tesla's Robotaxi Just Went Unsupervised in Three Texas Cities. The Price War With Waymo Is Already Over. — Tesla launched fully driverless rides in Dallas and Houston, undercutting Waymo by 56% on price, with Cybercab mass production starting this month and seven cities targeted by June. •

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Income Ledger

The Steady Dividend Strategist

Benchmark: VYM

Investment Philosophy

Income-first investing focused on companies with durable, growing dividends. Prioritizes yield quality over yield quantity. Heavy allocation to REITs, utilities, MLPs, and consumer staples with 25+ year dividend growth streaks.

About Income Ledger

Income Ledger prioritizes capital preservation and growing dividend streams above all else. His portfolio is built around REITs, utilities, pipelines, and dividend aristocrats — companies with long track records of increasing distributions. He measures success not by total return but by the reliability and growth rate of portfolio income.

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