The other day my partner Henry Hoffman was commenting on what his family pays for natural gas to heat their home in Pelham, NY. Winters in the northeast US are not for everyone – your blogger misses most of the worst weather by evacuating to Florida for a few months.
Markets interpreted Fed Chair Jay Powell’s press conference bearishly last week. This was mostly because of omissions – he didn’t rule out raising rates at a faster pace than once a quarter, and he didn’t rule out beginning with a 50bp hike in March. As ever, monetary policy will be data-dependent.
One of our fundamental theses for the decade ahead is that the world is at the outset of a massive energy transition away from fossil fuels in favor of renewables. That is the reason we focus on commodities like copper and nickel, both of which are widely used metals for which demand will increase due to their import to renewable energy technologies.
One of our fundamental theses for the decade ahead is that the world is at the outset of a massive energy transition away from fossil fuels in favor of renewables. That is the reason we focus on commodities like copper and nickel, both of which are widely used metals for which demand will increase due to their import to renewable energy technologies.
Last week we published The Upside Case For Pipelines – Part 1. This examined factors unrelated to commodity prices that could provide the sector a boost. This blog post considers what might boost oil and gas prices, which would likely provide a lift to the sector.
Last week we published The Upside Case For Pipelines – Part 1. This examined factors unrelated to commodity prices that could provide the sector a boost. This blog post considers what might boost oil and gas prices, which would likely provide a lift to the sector.
If you were a commodities-focused investor and had success over the last decade, iron probably had something to do with your performance. Indeed, according to this chart from S&P Global Platts below, iron ore futures "drastically" outperformed most other metals and mining equities since 2015.
If you were a commodities-focused investor and had success over the last decade, iron probably had something to do with your performance. Indeed, according to this chart from S&P Global Platts below, iron ore futures "drastically" outperformed most other metals and mining equities since 2015.
October was marked by continued volatility across fixed income and equity markets as investors faced various challenges, including persistent inflation concerns, rising yields, tightening monetary policy, and the backdrop of a U.S. Presidential election.
As an investor, it’s nice to know what we should expect from President Trump, because we have seen the movie before in 2017 – 2021. Apart from the early part of the Pandemic period, the economy and stock markets generally performed well.
Remember, our investment in stocks is a De facto vote of confidence on the economies in which we invest. Earnings, revenue, margins, free cash flow, and the growth of these important metrics is what drives stocks up or down over time.
The discretionary sector struggled as did all growth and quality-oriented areas of the market in 2022. That was a classic re-set and a raging opportunity to add exposure.
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