I imagine there are a gazillion ways to analyze Warren Buffett's investment style, but for me, once he had built up a huge cash position in his partnership, starting about 1936, he started "buying America" in bigger and bigger portions. Of course, it became easier once his pile of cash became bigger, but he still had to make the right decisions, but he continued to "buy America."
One can run through the career highlights at the link.
Every investor has that opportunity -- to buy "America," even if on a much smaller scale. [Note: buy "America," not buy "American." A slight distinction.]
2023 - 1949 = 74 years of investing.
74 - 39: I need 35 more years to match his investing longevity. LOL.
At best, I think I have five more years of active, independent investing. But I'm laying out the strategy so that Sophia can take over.
************************* Whose Bed Have Your Boots Been Under
This is really quite cool. The rising price of oil -- actually preceded by the surge in the price of gasoline -- will help JPow's attempt to slow the economy. Whether or not we see inflation slow is another question. Sort of depends on the reason for the 9% inflation we saw last year.
This is really quite cool. It appears the American drillers are "getting religion again," after reporting dismal 2Q23 earnings, cutting dividends, and seeing share prices drop.
BRK: down half a percent.
WTI:
up 1.78%
up $1.45
trading at $83.00
With the market surging today, would this be a good day to see how EVs are doing?
After being in the “red” all morning, BRK-B has just turned green (11:32 a.m. CDT).
The oil companies, of course, are having a great day.
DVN: up 2%, at just above $51. That's how far it fell.
UNP: down 33 cents, trading just under $230.
AAPL: holding just above $185. Market cap: $2.194 trillion. A lot of folks buying AAPL today at discount but sellers greatly exceed buyers, based on drop in price. [Later: AAPL breaks below $185.]
*****************************
The Book Club
Why Does E=MC^2? Brian Cox And Jeff Forshaw, c. 2009.
August 5, 2023: from The WSJ -- to attract workers, employers need to offer prospective employees the opportunity to work from home at least one day per week. Link here.
This past week, in the weekly EIA petroleum report -- did you all note the weekly gasoline demand chart? Ghastly, and posted by the EIA without comment:
This is simply ghastly ... and again, reported, without comment by anyone.
But, could this explain some of the drop-off in gasoline demand (and, no, it's not yet due to EVs):
wages rose 0.4% for the month; represents 4.4% annual pace -- both above estimates
*****************************
Back to the Bakken
WTI: $81.97
Sunday, August 6, 2023: 12 for the month; 214 for the quarter, 469 for the year 39314, conf, Stephens Williston DBA SEG Williston, Gernand 13X-32D,
Saturday, August 5, 2023: 11 for the month; 213 for the quarter, 468 for the year 39313, conf, Stephens Williston DBA SEG Williston, Gernand 13X-32C, 38947, conf, Hess, BW-Rolfson-151-98-2116H-14,
Friday, August 4, 2023: 9 for the month; 211 for the quarter, 466 for the year 39570, conf, Challenger Point Energy, Jacobsen 13-6, 39539, conf, WPX, Two Shields Butte 16-8-7-13HA, 39480, conf, CLR, Meadowlark 12-6HSL1, 39472, conf, Ovintiv, Newman 150-97-21-16-1H, 35018, conf, BR, Lillibridge 1C MBH,
Cargo ships move more than 80% of the world’s internationally traded
goods, making them essential to the global economy, but they’ve
traditionally been fueled by heavy fuel oil or marine gasoil, both of
which are emissions-intensive. With 60,000 or so ships in service, they
account for an estimated 2.8% of global greenhouse gas (GHG) emissions, a
percentage the International Maritime Organization (IMO) would like to
reduce. At the 80th session of the IMO’s Maritime Environment
Protection Committee (MEPC) in July, the group adopted a provisional
agreement to eliminate GHG emissions from shipping by a date as close to
2050 as possible, with intermediate goals for emissions reduction by
2030 and 2040. Clearly, radical innovations will be required to meet the
IMO’s goals. In today’s RBN blog, we look at some of the initiatives
directed at emissions reduction in shipping and the challenges to (and
opportunities for) operational improvements, especially regarding LNG
carriers.
