The Importance Of Reading 10-Ks All Day Long -- January 9, 2024

 Locator: 46495INV.

Updates

January 9, 2024: from Bloomberg today --

January 9, 2024:  NVDA at an all-time new high. We all had the same information one year ago and five years ago:

• from Barron's:  

•  looks like someone did not read, or misread, at least one 10-K:

We all had theh smae informamtion andd the same 10-K last year and five years ago:

Original Post

Locator: 46488INV.

TAG: Snarky.

Breaking

Later, 4:18 p.m. CT:

Original Post

Link here.

Also, when I bought JNJ years ago I never knew about JNJ's talcum powder issue. But other than that, the 10-Ks have been very helpful. LOL.

Oh, that's right ... there was also the Texaco fiasco -- involving Paul Getty or something along that line .. .I've long forgotten ... but other than that the 10-Ks have been very helpful. Oh, yes, the whole thing with Lucent decades ago...

Oh, another one ... 3M ... multiple lawsuits, including the biggie -- the hearing protection issue -- I never even knew 3M was involved with hearing protection ... yeah, reading those 10-Ks have been a real hoot.

Now, back to Shakespeare and The Merchant of Venice --- which, by the way, also involves a lawsuit. LOL.

Tuesday, Januuary 9, 2024 -- What We May Or May Not Be Discuussing Today

Locator: 46494B.

Things we may get around to talking about today at the deli -- or not:

• Sports
• Really? Washington ranked #2? Really?
• Stories getting old:
• Boston and LNG
• climate change and forest fires
• Trump
• Peter Zeihan gets it right -- again
• Ukraine
• Israel
• WTI
• OPEC
• ESG / DEI 
• pro-Palestinian protestors
  
• Laughable:
• BRK and reading 10-Ks
• folks have had two years+ to invest in NVDA 
• I won't blogging about the Bakken but AI is a whole lot more interesting right now
  
• NVDA:
• wow
• Auto:
• ouch
• Book recommendations
• pre-ordered from Amazon
• for all the grief Amazon gets, absolutely focused on customer satisfaction

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Back to the Bakken

WTI: $72.44.

Wednesday, January 10, 2024: 10 for the month; 10 for the quarter, 10 for the year
39997, conf, Ragnar Exploration, Francisco 2-20H,

Tuesday, January 9, 2024: 9 for the month; 9 for the quarter, 9 for the year
39996, conf, Ragnar Exploration, Reardon 1-20H,
39928, conf, Neptune Operating, Fritz 20-29-32 2H,
39927, conf, Neptune Operating, Fritz 20-29-32 3H,

RBN Energy: Alberta's ethane demand to soar with approval of new Dow ethane cracker. Archived.

The demand for ethane by Alberta’s petrochemical industry has experienced a slow expansion in the past 20 or so years. However, that demand is likely to increase sharply by the end of the decade now that Dow Chemical has sanctioned a major expansion at its operations in Fort Saskatchewan, AB, that will more than double the site’s ethane requirements. As we discuss in today’s RBN blog, this will call for an “all-hands-on-deck” approach to increasing Alberta’s access to ethane supplies from numerous sources.

Reminder: 6:30 P.M. CT Tonight A Football Game -- January 8, 2024

Locator: 46493FOOTBALL.

Be sure to check local times, etc.

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17

Paul Harvey

Insurance Inflation -- And How Insurers Cope -- January 8, 2024

Locator: 46492GEICO.

Speaking of Warren Buffet, of which we were, a few minutes ago, now this, from The WSJ:

From the linked article:

After Allstate suffered billions of dollars in losses and failed to get the rate increases it wanted, it resorted to the nuclear option.

The insurance giant threatened last fall to stop renewing auto insurance for customers in three states that hadn’t given in to its demands, which would have left those policyholders scrambling for coverage. The states blinked.

In December, New Jersey approved auto rate increases for Allstate averaging 17%, and New York, a 15% hike. Regulators in California are allowing Allstate to boost auto rates by 30%, but still haven’t decided on its request for a 40% increase in home-insurance rates after the insurer refused to write new policies.

For many Americans, getting insurance for both their cars and homes has gone from a routine, generally manageable expense to a do-or-die ordeal that can strain household budgets.

Insurers are coming off some of their worst years in history. Catastrophic damage from storms and wildfires is one big reason. The past decade of global natural catastrophes has been the costliest ever. Warmer temperatures have made storms worse and contributed to droughts that have elevated wildfire risk. Too many new homes were built in areas at risk of fire.

As losses mounted, inflation only made matters worse, boosting the cost of repairing or replacing cars or homes.

And more:

Homeowners and drivers are facing sharply rising premiums, less coverage and fewer, if any, choices of insurer. In some places, the only options are bare bones coverage or none at all. That can make homes worth less and harder to sell, and cars less affordable.

Farmers Insurance Group increased home-insurance rates by more than 23% last year for tens of thousands of policyholders in both Illinois and Texas, according to S&P Global Market Intelligence. Nationwide Mutual said it won’t renew 10,525 home-insurance policies in hurricane-prone areas of North Carolina.

State Farm racked up $13 billion in property-casualty underwriting losses in 2022, its worst ever. Last year, it stopped writing new home-insurance policies in California. The state’s regulators last month approved a 20% home-insurance rate increase.

Groningen Back In The News -- January 8, 2024

Locator: 46491LNG.

How cold is it in Europe? Reports were that the continent was fully supplied with LNG / NG -- but now ....

Link here.

Groningen is tracked at the sidebar at the right.

The irony of the last update. LOL. 

 July 30, 2021: natural gas prices surging in Europe; severe shortage, and it could get worse.