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In his podcast addressing the markets today, Louis Navellier offered the following commentary. No More HikesThe Fed is probably not going to raise rates. If the positive CPI news is not convincing enough for the FOMC, the Labor Department announced on Thursday that the Producer Price Index (PPI) rose 0.1% in June and in the past 12 months. This is the slowest annual pace in almost three years (since August 2020). Importantly, wholesale service prices rose only 0.1% in June, which should please the Fed, since service costs had been an inflationary concern a few months ago. Also notable is that ...
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Dear fellow investors, Watching Warren Buffett and Charlie Munger Saturday in Omaha caused us to think about a very popular 1960s TV show called, “The Dating Game.” Hosted by Jim Lange, the game was played with the host on one side of a wall with a male or female contestant. On the other side were three people of the opposite sex and they were attempting to answer questions and get a date. The political pressure against oil drilling and exploration makes “dating” look very attractive to us in the oil industry! Warren Buffett made clear he’s not going to buy Occidental Petroleum (NYSE:OXY), but...
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In his podcast addressing the markets today, Louis Navellier offered the following commentary. Disappointing CPIThe Labor Department on Tuesday announced that the Consumer Price Index (CPI) rose 0.4% in February and is now running at a 6% annual pace, which is down from a 6.4% annual pace in January. Q4 2022 hedge fund letters, conferences and more The core CPI, excluding food and energy, rose 0.5% in February and is now running at a 5.5% annual pace, which is down from a 5.6% annual pace in January. Food prices rose 0.4% in February, while energy prices declined 0.6%. Owners’ Equivalent Rent ...
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Researcher FactSet says the forward price-to-earnings ratio for the sector is among the lowest within the S&P 500, at 10.5.Many oil-and-gas companies have seen earnings estimates revised downward for 2023.ConocoPhillips, EOG, HF Sinclair and Phillips 66 are all shaping the right side of their current consolidations and may be setting up for fresh breakouts.5 stocks we like better than ConocoPhillipsThe energy sector took a breather this month after its blazing performance in 2022, but it’s making a comeback, with stocks including ConocoPhillips (NYSE:COP), EOG Resources, Inc. (NYSE:EOG), HF Si...
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Dear fellow investors, Q2 2022 hedge fund letters, conferences and more So far, it was effectively used by President Biden to calm oil prices down when they hit $120 per barrel. The Reserve currently holds around 500 million barrels of oil, down from the normal 700 million barrels. President Biden’s action has backed off prices at the pump, but at some point, those reserves will need to be replaced. Investors know that it will be replaced and oil producers in the U.S. wisely bought oil from the Reserve and refined it. Therefore, they did what any wise business would do, keep their own oil prod...
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Dear fellow investors, *To be, or not to be: that is the question:* *Whether ’tis nobler in the mind to suffer* *The slings and arrows of outrageous fortune,* *Or to take arms against a sea of troubles* – William Shakespeare We believe one of the hardest things to do in common stock investing is to hold winners for a long time. This is especially true with what are normally cyclical industries. In our view, we are suffering through the “slings and arrows” of a major price correction in the secular oil bull market that started in the spring of 2020. Is this the end of oil driving the inflation ...
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WTI Rises Above $120 On Tightening SupplyThe case for higher Oil (NYSEARCA:USO) prices continues to strengthen and is now pushing WTI oil above the $120 mark. The latest news includes news from the EU of a partial ban on Russian imports. The ban will include most oil and gas products and would be put into place by the end of the year. Products delivered by pipeline are exempt due to opposition from Hungary, a country deeply dependent on Russian energy.Russia, understandably, fired back at the move saying it would find other buyers for its crude although who is still a question. The takeaway fo...
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Texas is the world’s ninth-largest economy. As of 2019, the U.S., with a GDP size of $21.4 trillion, is the world’s largest economy, followed by China, Japan and Germany. As per the IMF ranking of global economies, Texas, with a GDP of $1.9 trillion, is technically at ninth place with Italy being at eighth with a GDP of $2 trillion, and Brazil at tenth with a GDP of $1.8 trillion. Moreover, the state is ranked among the top in the U.S. when it comes to growth prospects, owing to robust employment and income growth forecasts. Texas is home to several world-class companies, and last year, many c...
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