Comment of the Day
Video commentary for September 19th 2022
A link to today's video commentary is posted in the Subscriber's Area.
Some of the topics discussed include: stocks steady ahead of the FOMC meeting, Treasuries pause at 3.5%, oil and gas steady. energy transition stocks steady.
Email of the day on global property prices
In the Big Picture Roundup, you shared this wonderful chart.
The problem is that the way that you shared it, means that we could not see the date axis.
It would be great if you could share a better version of this chart e.g., on Comment of the Day
Thank you in advance
My view - Thank you for pointing this out. The aspect ratio between my monitor and the recording software is not always one to one. Here is the chart you were asking about.
What I like about this chart is it starts in 2000. It graphically illustrates that some property markets completely sidestepped the housing crash associated with the global financial crisis in 2008. These same markets, notably Australia, Canada, New Zealand and Sweden are expensive on a price/income and price/rent basis.
Volta Offers Free EV Charging, With Caveats
This article from extremetech.com may be of interest to subscribers. Here is a section:
Tesla set the bar high with free charging for many years. Now comes Volta Charging, a company that aims to build a network of high-speed chargers for all EVs that are free for the first 30 minutes. They’d be in upscale locations that meet Volta’s standards and supported by advertising, including on signage near the DC fast chargers.
The typical motorist would pick up 175 miles of driving from the half-hour charge. The user then decides to complete the charge on their own nickel, or disconnect and drive for a couple more days. Volta already has a series of Level 2 (240-volt) charging stations in and around a dozen major metro areas. The first DC fast-charge station will be in Norwalk, Connecticut, along I-95 linking New York City and Boston.
My view - One of the biggest arguments against the rollout of electric vehicles is they require charging facilities and not everyone who owns a car has control over the environment in which they park. There is also the question of where all the electricity is going to come from to supply electric vehicles. Much more generating capacity is going to be required to support the sector and companies are already under pressure to keep up with demand as coal is sidelined and the grid ages.
Tycoon Running a Quarter of China's Copper Trade Is on the Ropes
This article from Bloomberg may be of interest to subscribers. Here is a section:
Much as He’s rise was a microcosm of China’s economic boom, his current woes may mark a turning point for commodity markets: the end of an era in which Chinese demand could only go up.
“In some ways Maike’s story is the story of modern China,” said David Lilley, who started dealing with Maike in the 1990s, first as a trader at MG Plc and later as co-founder of trading house and hedge fund Red Kite. “He has skillfully ridden the dynamics of the Chinese economy, but no one was prepared for the Covid lockdowns.”
This account of He’s rise to the pinnacle of China’s commodities industry is based on interviews with business associates, rivals and bankers, many of whom asked not to be named because of the sensitivity of the situation.
My view - “Never mistake a bull market for brains” is one of the most useful adages in the markets. The challenge is that to make truly life changing money in a bull market one has to act as if it will never end. That implies loading up on leverage, making big bullish bets and never giving into doubt. In bull markets that last for a decade or more, the biggest gamblers look like prophets and are treated as such by the market. When liquidity conditions eventually change, that business model experiences significant duress.
Speaking Engagements - World Money Show October 2022
I have agreed to speak at The World Money Show in Orlando on October 30th.
Eoin's personal portfolio: stock market index short opened August 11th 2022
One of the questions subscribers ask most often is how to find details of my open trades. To make it easier I will simply repost the latest summary daily until there is a change.
The Chart Seminar London November 21st and 22nd 2022
We are living through fast moving markets so I am gauging interest for The Chart Seminar on November 21st and 22nd this year in London.
In the meantime, if you have any questions, would like to attend, or have a suggestion for another venue please feel to reach out to Sarah at sarah@fullertreacymoney.com.
The full rate for The Chart Seminar is £1799 + VAT. (Please note US, Australian and Asian delegates, as non-EU residents are not liable for VAT). Annual subscribers are offered a discounted rate of £850. Anyone booking more than one place can also avail of the £850 rate for the second and subsequent delegates.