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Tuesday, October 26, 2021

Opening Gambit -- Throwing Jello At The Wall -- Let's See What Sticks -- October 26, 2021

Inflation:

  • countries where central banks have raised rates: highest inflation
  • US: nowhere near raising rates
  • Spain: 23% increase in food prices "overnight"

Janet Yellen:

  • will impose taxes on coins earned by Mario
  • "won't be a coin tax, but rather a tax on those little gold things that Mario jumps for"

Elon Musk:

  • really, really rich

Tesla:

  • really, really ... amazing
  • Hertz deal: analyst has it all wrong; using "old textbook" to analyze deal;

US equity markets:

  • futures suggest another good day for those "long" and fully invested

Medicare and "open season":

  • does anyone really understand any of this

Obamacare and "open season":

  • no one understands this

Hedging:

  • CLR schools PXD
  • PXD: huge loss -- mostly due to hedging; bit off more than it could chew?

EVs:

  • winner: Ford
  • if I were to invest in EVs, my first choice? Ford

Unions:

  • Teamsters kicked out of XTO Logistics facility in California; breaking point?
  • Let's go, Brandon

Recession:

  • yeah, likely, but different this time

Coal:

  • China and Australia talking

Cotton:

  • China importing US cotton
  • US cotton + shipping < cost of producing cotton in own country (China)
  • think about it: all those container ships sailing back empty to China

Saudi Arabia:

  • if one doesn't consider the very likely possibility that KSA has no swing capacity, is not reading the tea leaves;
  • more and more hints from Saudi Arabia they are at their max when it comes to crude oil, at least in short term;
  • huge demand for fresh water
  • needs fresh water to frack -- they wouldn't be going their route if they didn't have to
  • Red Sea drilling
  • pivots to natural gas

Green salad choice?

  • green cabbage beats iceberg lettuce; no contest;

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