It is cathartic to get these important statements articulated without interruption on a mainstream financial network. Rare indeed. Changes must happen if economic strength is to recover. Rewarding weakness just gets us more of the same.
CNBC’s “Halftime Report” is joined by Social Capital CEO Chamath Palihapitiya to discuss his latest deal, his view of the U.S. economy and markets. Here is a direct video link.
The COVID-19 shutdown is accelerating demand destruction for oil, coal and the internal combustion engine industry, but it’s not the cause of the larger trend. This update from Tony Seba reviews the technological disruption driving the larger trends.
Keynote for Visionary Day at the 1st World CleanTech Week eConvention April 20, 2020. Here is a direct video update.
On topic, see yesterday’s story GM, Ford Credit may lose billions on car-price plunge.
Economic recovery hopes are likely to be thwarted by COVID-19 until there is a vaccine, and in the meantime, supply is likely to overwhelm demand in most industrial commodities and consumer goods. Central bank interventions, ETFs and extreme financial leverage have distorted free market signals and driven massive malinvestment for years now. Resets and asset liquidation is part of a necessary, ongoing process.
Pierre Andurand, founder of Andurand Capital Management LLP, says the oil market needs shutins to happen now to rebalance the market. Here is a direct video link.
Cory’s Chart Corner
Sounds like he's saying big FAT sustainable dividends lie near the bottom. Yummy!
Paul Tudor Jones in an Interview with Patrick Oshaughnessy sums up and connects the valuation pieces of the overall market well:
“We’re 252% of stock market cap to GDP. In 1929 we were 65%. In 1987 we got to ~85-90%. In 2000, 170%.
If you think about the periodicity of
