Locator: 44340B.
Saturday, April 8, 2023
SRE: For The Archives -- April 8, 2023
Locator: 44339B.
SRE: link here.
This item, published March 13, 2023, from Simply Wall Street, with this summary:
- the projected fair value for Sempra Energy is $111 based on Dividend Discount Model
- Sempra Energy is estimated to be 30% overvalued based on current share price of US$144
-
Analyst price target for SRE is $170, which is 53% above our fair value estimate [(170-111)/111 = 53%].
On the day this item was posted, March 13, 2023, SRE was trading at $144.
I guess a lot of folks didn't read the linked article.
Most recent trading day, April 6, 2023, SRE was trading at $155.34.
Readers know that I call SRE "a $124-stock."
So, I guess if I were a trader, I would have shorted or sold SRE in mid-March based on the Simply Wall Street article. And then would have watched SRE melt up almost 8% over the next few weeks, with a dividend yield greater than 3 percent.
Analyst target:
- (170 - 155)/155 = 10% increase over the next full year.
Disclaimer: this is not an investment
site. Do not make any investment, financial, job, career, travel, or
relationship decisions based on what you read here or think you may have
read here.
All my posts are done quickly:
there will be content and typographical errors. If anything on any of
my posts is important to you, go to the source. If/when I find
typographical / content errors, I will correct them.
Tesla Slashes US Vehicle Prices -- IBD -- April 8, 2023
Locator: 44338B.
Reductions "offset / compensate" buyers who will lose the $7,500 tax credit for EVs.
From the linked article:
The global electric-vehicle maker reduced Model S and X prices by $5,000, the third price reduction this year.
The Model S starts at $84,990 while the Model X now begins at $94,990. Meanwhile, Tesla cut U.S. Model 3 prices by $1,000 to an entry price of $41,990. The Model Y was cut $2,000 to $49,990.Tesla's decision to slash U.S. vehicle prices comes ahead of the implementation of new battery and mineral component requirements to qualify for the full Inflation Reduction Act $7,500 tax credit for EVs.
Earlier in the week, Tesla also cut Model 3 and Y prices in Australia once more. Tesla trimmed prices in China on January 6, 2023, following big cuts in late October, 2022. The global EV maker also significantly reduced prices in the U.S. and Europe on January 13, 2023. The company reduced European prices again in early March, 2023, with further U.S. discounts for the Model S and X.
Those price cuts and new U.S. EV credits lifted first-quarter deliveries to a record, but fell short of FactSet views.
Production outpaced deliveries once again, with Model S and X output nearly twice as high as sales.
Let's repeat that, in case you missed it:
Production
outpaced deliveries once again, with Model S and X output nearly twice
as high as sales.
Model S: starts at $84,990.
Model X: starts at $94.990.
Luxury automobiles.
Powered by coal.
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The Book Page
Where to start with George Eliot.
Middlemarch may have been the turning point in my adult reading program.
But it was Silas Marner that convinced me that George Eliot was truly brilliant.
Fed Rate -- One Last Quarter-Point Increase -- May, 2023 -- One And Done -- April 8, 2023
Locator: 44337B.
One and done. Solid jobs report will result in one last quarter-point rise in the "Fed rate" in May, 2023.
Toyota Throws In The Towel -- April 8, 2023
Migration Patterns, Inflation -- April 8, 2023
Locator: 44336B.
Over at PowerLine, update on US migration patterns.
Allied Van Lines migration map, 2022: link here.
Arizona, South Carolina, North Carolina, Tennessee, and Texas were the top destination states in 2022.
While the total number of moves was down in 2022, Arizona, South Carolina, North Carolina, Tennessee, and Texas were the top destination states, drawing new residents with affordability and overall better financial security. This surge in demand in these states resulted in an increase in home prices.
By contrast, California and New Jersey saw an exodus of residents due to the rising cost of living. Residents in Michigan, Pennsylvania, and Illinois exited their states due mainly to slow job growth when compared to states like South Carolina, North Carolina, and Florida.
United Van Lines, through 20017: link here.
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Venezuela
We often see stories, headlines of the following nature. 2017 seemed to be the "big year" for such stories.
Many folks use such headlines and stories to suggest the same thing could happen to/in the United States if certain things were to happen.
The question I often ask: how is the US so different from Venezuela that this -- the US turns into another "Venezuela" -- won't happen?
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Costco
Costco: four relatively substantial trout -- $11.00 for all four --
My hunch: 9 out of 10 Americans don't know how to "cook" trout at home.
Inflation in the US: about 9% at its worse this past year.
Inflation from Costco / eating at home to eating at McDonald's:
- $3.00 to $7.09: 136% (Massachusetts)
- $3.00 to $4.58: 53% (average)
McDonald's Filet O Fish, link here:
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Sides and Snacks
Week 15: April 2, 2023 -- April 8, 2023
Locator: 44335B.
Top story:
- Joe Biden is still president
- Former president arrested
Top international non-energy story:
- Russian-Ukraine war continues
Top international energy story:
- "Surprise cut" by OPEC+
Top national non-energy story:
- WSJ journalist arrested; imprisoned in Russia
- JD Power: Schwab #1 in customer satisfaction
Top national energy story:
- XOM and PXD in talks
- WTI at $81
Top North Dakota non-energy story:
Top North Dakota energy story:
Geoff Simon's top North Dakota energy stories:
Bakken economy:
Commentary: