Unbelievable? April 28, 2023

Locator: 44490P.

XOM: By the way, before we get started. 

How much oil was refined last quarter compared to previous calendar first quarters? I have no idea but it must be a lot. Think about this. XOM reports the largest first quarter profit in their 140-year history, and yet oil prices were "way down." Two things: margins and volume. Actually three/four things: subtract expenses (including taxes, etc). 

But XOM must be hitting on all four cylinders -- increased volume, increased margins, cost control, and tax management -- to set a first quarter record like that.

Has XOM been laying off employees? If so, not being widely reported.

Now, back to our regular programming:

I assume "duly elected."

If so, I find this reprehensible, unless I'm missing something or there's more to the story. I know nothing more about this story than this "headline."

WWJD?

And with that, I'm off the net for awhile. Or not.

Maybe I should do a poll.

Wow, I'm in a feisty mood this morning, but I've never felt better with regard to the market. But I am getting tired of all the crazy reporting and headlines on the business pages.

Exhibit A:

By the way, I still need to get back to Warren Buffett, Charlie Munger, BKR and all their excuses. Lack of out-of-the-box thinking.

Before I get started on WBCMBRK, look at BRK's holdings -- all of them and percent of each holding as part of the overall portfolio.

Then review reasons given by CM and WB why they are holding a huge cash hoard and not spending it.

It has to do with the SEC and "ownership" rules. Link here.