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17 March 2021
Video commentary for March 16th 2021
Eoin Treacy's view
A link to today's video commentary is posted in the Subcsriber's Area.
Some of the topics discussed include: bond yields continue to trend higher and represent a growing headwind for growth, global reflation candidates continue to outperform, gold and oil stable, palladium surges on mine issues. renewables ease.
Email of the on solar power, desertification, and profitability
This video is very interesting. It is hard to comprehend the scale of this project. It is part of China's ''ending poverty'' project.
Whilst the US has been engaged in adventurism in the M-E and elsewhere (right up till today) resulting in heavy losses, both financial and human cost, China has been powering ahead in leaps and bounds, spreading their sphere of influence far and wide. Interesting times.
Eoin Treacy's view
Thank you for this interesting video which is both information and raises some important questions. The point they seek to get across is that solar panel power plants can create clean energy, reverse desertification, and create lucrative income streams for local populations.
The video at no point discusses the efficiency of the solar panels, the sustainability of using the precious water resource to regularly clean them, the cost/efficiency of power lines to get the electricity to where it is needed or the desire for energy self-sufficiency.
Big Market Delusion: Electric Vehicles
This article by Rob Arnott for Research Affiliates may be of interest to subscribers. Here is a section:
From the beginning, the air travel business has been capital intensive and highly competitive. During good times, new airlines emerged and drove down profits. During bad times, many less well-capitalized companies folded. Over the course of the last century, virtually every company in the business either failed or merged into a larger airline, most of which also collapsed.
The simple fact, as Warren Buffett so cleverly stated, is that technology does not translate into great fortunes for investors unless it is associated with barriers to entry that allow a company to earn returns significantly in excess of the cost of capital for an extended period. Of course, Apple, Google, and Facebook are well-known examples of such technological success, but they are the exception rather than the rule. For a host of complicated reasons, these companies have been able to build moats, or barriers to entry, around their businesses. They also benefit from the fact their products can be produced with limited capital investment.
Eoin Treacy's view
Not every electric vehicle upstart is going to survive but they are currently priced as if they will be the ultimate successors to the global automotive industry. That’s the kind of contradiction bubbles are made of.
Inside Disney's Plan To Automate Half Its Ad Business Within Five Years
This article may be of interest to subscribers. Here is a section:
Disney is courting two sets of advertisers with its platform approach. Linear TV buyers will be able to buy across new formats more easily and with greater granularity, while programmatic buyers will finally be able to see and bid on all of Disney’s inventory.
Building its own ad tech is a key part of Disney’s strategy. A video ad server “pressure-tested” at Hulu will be extended across the rest of Disney's video inventory. The muscle behind its tech is a 500-person engineering and product team led by Jeremy Helfand, previously Hulu’s VP and head of advertising platforms. The team already built the video ad server and the video header bidding solution that allows programmatic buyers to compete for every Disney ad impression.
The team came about last year, when Disney merged all of its Hulu and Disney ad tech talent and products into a single, centralized team. All in, Disney said it’s making a “nine-figure” investment in its ad platform.
Eoin Treacy's view
Google’s announcement that it is shutting down the tracking of user activity across websites is going to cause ructions for many companies that rely on that data to target the ads they buy. It also hands greater control to the owners of data pools who now have greater heft in selling access to potential ad buyers.
Eoin's personal portfolio: from March 4th 2021
Eoin Treacy's view
One of the most commonly asked questions by subscribers is how to find details of my open traders. In an effort to make it easier I will simply repost the latest summary daily until there is a change.
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