The growing gap between gold and mining companies is about to gain significance as the precious metal gears up for a major breakout, likely marking the beginning of a new long-term cycle for precious metals. Although mining companies are complex capital intensive businesses, there are historical periods when this industry proves to be exceptionally profitable
David Einhorn’s Greenlight Capital cut its stakes in its top two holdings, U.S. housebuilder Green Brick Partners and Pennsylvania coal miner Consol Energy , and instead plowed millions into gold in the third quarter, the New York hedge fund’s 13F filings show. The hedge fund, which was founded by David Einhorn in 1996, increased its
Warren Buffett, on investing through the prior episode of U.S. government “Guns and Butter” deficits:
Last week, Warren Buffett bought 3.92 million more shares of Occidental Petroleum at prices above $60 per share. But that’s not the only thing we learned from that October 25 filing. OXY has now redeemed over 15% of the preferred shares that Berkshire received in 2019 as part of the Anadarko deal. Back in August,
Fun theoretical exercise I’m currently working on for the @fortisanalysis side of things: U.S. refineries (total) only store about 40 million gallons of military-grade jet fuel at any given time, or about 36,400 flight hours for an F/A-18E/F Super Hornet launched from an aircraft carrier. For 40 x -18’s per carrier, this is about 910
Let’s hope the U.S. economy is truly slowing down – particularly manufacturing – and that the winter is mild. U.S. stocks of distillate fuel (diesel and heating oil) are ending the fall season at their lowest **seasonal** level in data since 1982 | #OOTT
U-R-A-N-I-U-M: The roadmap laid out three years ago, at the breakout, continues to be followed. There’s no reason to change the plan #Commodities #gold #Silver #Uranium
This week saw a monumental gap up in spot uranium. After observing the details around price action and commentary with uranium this week, this exact moment reminds me of when #rhodium shot through $10,000/oz in early 2020, where there was no technical resistance alongside no physical supply. Rhodium kept going and topped out around $30,000/oz