$OIH $RIG $VAL $TDW $NE $BORR $DO $SDRL A few thoughts on (1) Outlooks from 3Q23 calls, (2) the Oilfield Services industry and (3) Long-Cycle Supply/Demand. (1) Outlooks from 3Q23 earnings affirmed belief in a multiyear upcycle although focus has been short-term softness. Offshore experienced a painful 7-8 year downturn and these memories are not
The U.S. Military appears to be short on ammunition. NATO Military Committee Chair, Rob Bauer recently said: “The bottom of the barrel is now visible. We started to give away from half-full or lower warehouses in Europe.” You need a lot of metals to replenish these stocks.
There are few assets that can provide meaningful diversification benefit in a portfolio, particularly from a real return / purchasing power standpoint. In an environment where stocks and bonds are so highly correlated, notable to see the low correlation across commodities.
The Sam Bankman-Fried trial finished up yesterday, and boy are my arms tired. Literally. I filled eight notebooks over the four weeks of the trial. I’ve also been getting to the SDNY courthouse as early as 2 am some mornings to line up for one of the coveted seats inside the courtroom itself. I’m still
Not Fully Thriving OpenSea, the self-proclaimed “first and largest” marketplace for Non-Fungible Tokens (NFTs), is reportedly laying off 50% of its current staff, as the platform looks to cut costs and reorganize amidst the continued fall of the digital tokens. The days of tweets selling as NFTs, “crypto punks,” and celebrities going on Jimmy Fallon
Buy near Balanced Price, sell near Terminal Price. Could it be that simple? #bitcoin cycles. Track this chart for free at Look Into Bitcoin: https://www.lookintobitcoin.com/charts/bitcoin-price-prediction/
Reminder that this happened when the Gold Spot ETF was approved: