Multiple global giants have entered the scene—Linping’s fortune just got another +0.5

Rio Tinto was founded in 1873 and is headquartered in London, ranking among the world’s top multinational mining conglomerates. According to authoritative rankings, it placed 263rd on the 2026 Fortune Global 500 list and 4th globally in mining and metals brand value for 2026; it is also the world’s second-largest mining company by market capitalization and the largest iron ore producer globally. Rio Tinto operates in over thirty countries, with core businesses spanning critical mineral resources including iron ore, copper, aluminum, and lithium. Xiamen Tungsten Co., Ltd. is China’s undisputed industry leader, with multiple core businesses consistently ranking at the forefront both globally and domestically. Its photovoltaic fine tungsten wire holds over 65% of the global market share and exceeds 90% domestic penetration—ranking first worldwide. Its cemented carbide exports account for more than 30% of China’s national total, while its tungsten smelting capacity and revenue scale both lead the domestic industry. The company has also earned the top ESG rating in the Shenwan tungsten sector and ranks among the highest in China’s metal mining industry for ESG performance. These two powerhouse industry leaders—both towering figures in their respective domains—have recently joined forces to invest in an intelligent driving company. On August 21, 2026, Bolai Technology, a mining-sector intelligent driving enterprise, officially announced completion of a financing round exceeding RMB 100 million. This round was led by Suzhou Rio Tinto Xin Xin Equity Investment Fund—a fund jointly established by Rio Tinto and CITIC Group—and participated in by Xiamen Tungsten. Existing investor JiuZhi Capital also added further investment. Notably, Suzhou Rio Tinto Xin Xin Equity Investment Fund marks Rio Tinto’s first industrial fund established in China, and Bolai Technology is its inaugural investment project. Bolai Technology stands as a benchmark enterprise in China’s mining autonomous driving sector, specializing in end-to-end L4-level autonomous driving solutions for mining applications. Focusing specifically on battery-electric autonomous mining trucks, it is one of only a few companies in the industry capable of independently researching, developing, and mass-producing fully integrated vehicles featuring ‘battery-electric power + autonomous driving + automated battery swapping.’ By shipment volume and revenue, Bolai Technology ranked as the world’s largest supplier of battery-electric autonomous mining trucks in 2025, commanding 45.5% of China’s electric mining truck shipment market and 42.8% of revenue—firmly holding the top position nationwide. The company’s solutions have been deployed across more than 30 mining projects throughout China, accumulating over 93 million kilometers of safe autonomous operation. Its products have gone global, establishing partnerships with international mining giants such as Rio Tinto and Vale, and participating in intelligent transformation initiatives at mines in Australia, Indonesia, and other overseas locations.

Book Review | The Boundaries of Investing: Mastering What You Can Control

Most investment books tell you what to do. In contrast, the newly released book *How Not to Invest: The Ideas, Numbers, and Behaviors That Destroy Wealth—and How to Avoid Them*, published in March this year, takes the opposite approach—applying the wisdom of ‘thinking backward’ to examine the ideas, numbers, and behavioral habits that frequently lead investors astray. At its core, the book helps investors define clear boundaries: distinguishing between what they can genuinely control and what lies beyond their influence—and therefore need not concern themselves with. By steadfastly operating within their circle of competence, readers can make better investment decisions. Barry Ritholtz, the author, is a prominent U.S. financial writer, columnist, blogger, and market strategist—and founder, chairman, and chief investment officer of Ritholtz Wealth Management. With over 30 years of investment experience, Ritholtz wields considerable influence in financial media. He hosts the widely acclaimed Bloomberg Radio podcast *Masters in Business*, and writes regular columns for *Bloomberg Opinion* and *The Washington Post*. His investment insights are highly regarded by practitioners and individual investors alike. So, what pitfalls does the book identify—ones that investors can recognize, avoid, and effectively manage through disciplined self-awareness? 01 Misconceptions About Thinking In the internet age, advice from so-called experts, around-the-clock news, and social media content flood our attention—but in reality, very few people can reliably predict the future. How should investors cope with information overload? How can they distinguish market noise from meaningful signals? The author recommends restructuring one’s informational ‘diet’: first practicing informational ‘subtraction’—reducing unnecessary noise in daily information intake; then applying informational ‘addition’—once noise is filtered out, allowing genuine signals to emerge clearly. The author argues everyone should maintain their own personal ‘All-Star’ information source list—individuals who are not only domain experts but, more importantly, possess extensive hands-on experience and verifiable track records. “Their views and decisions reflect deep thought and wisdom; over many years, their correct judgments have far outnumbered their missteps—and when they err, they openly acknowledge it.” Among the author’s own ‘All-Star’ information sources are: ・Bill McBride, economist, renowned for distilling economics and real estate down to their essence; ・Sam Ro, financial writer and entrepreneur, known for his profound understanding of financial market drivers; ・Torsten Slok, Partner at Apollo Global Management and Economics Award recipient, recognized for his insight into macroeconomics and market data analysis; ・Morgan Housel, financial journalist, author, and partner at The Collaborative Fund, whose columns and books brim with penetrating insight and wisdom; ・Claudia Sahm, economist and former Federal Reserve official, creator of the widely used ‘Sahm Rule’ for identifying recessions; ・Jason Zweig, *Wall Street Journal* columnist, noted for his incisive analysis of behavioral pitfalls and errors in investing; ・Ed Hyman, Chairman of Evercore ISI investment bank, long regarded as a perceptive economist.

Ritholtz Wealth Management Increases Stake in Rio Tinto PLC

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Ritholtz Wealth Management boosted its Rio Tinto stake by 88% in Q4, holding shares valued at $2.07 million despite mixed analyst ratings. Positive catalysts cited include potential interest in California boron assets and favorable aluminum market dynamics.

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Ritholtz Wealth Management Increases Stake in Rio Tinto PLC

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