ESG investing, pure and simple, is a “woke” man’s arrogance. It’s investing based on a company’s environmental, social, and governance record, something easily manipulated by companies in a process known as “greenwashing.” And now it’s coming apart at the seams. Perfect. Let it. The lemmings are racing each other to jump off the cliff, not wanting to fail alone. ESG was all the talk in a rising market. Then the market cracked, and ESG was seen for what it truly is: a money grab to charge higher fees. Along the way, a little thing called Covid happened. Staff at big firms left for greener … [Read more...]
Archives for September 2022
Artificial Intelligence “Listens” to Machines to Predict Maintenance and Improve Efficiency
A new trend among industrial companies is "predictive maintenance." In order to better predict when machines need maintenance, artificial intelligence systems use sensors to "listen" to the machines and then analyze the data and changes in the sounds. Using the data, the AI predicts when maintenance must be performed for maximum efficiency. Angus Loten reports in The Wall Street Journal: Startups that make technology designed to predict industrial equipment failures before they happen are seeing a surge in demand, as strained supply chains prompt manufacturers to squeeze more efficiency out … [Read more...]
The World Doesn’t Have Enough LNG Export Capacity to Keep Europe Warm
Europe may be freezing in winters until 2027 according to the head of Citigroup commodities research, Ed Morse, in an interview with Bloomberg TV. The problem facing Europe is that there isn't enough LNG export capacity to keep the continent supplied. Bloomberg reports: While European politicians are focusing on the region’s survival this winter, next year could be worse. The loss of Russian natural-gas supplies will cause reserves to be depleted faster when temperatures drop in the coming months and make the process of preparing for following heating seasons even more difficult. With no … [Read more...]
What You Can Learn from the Making of The Godfather
OK, you know how I feel about your lazy cash sitting on your couch eating all your food and doing nothing—not providing—not pulling his weight for the family. Lazy Cash Wandering Docks at Newport Boat Show The show “The Offer” is now streaming on Paramount+. It’s about the making of the movie The Godfather, and in it you see how much work went into getting Mario Puzo’s story onto the big screen—a monumental effort. I can’t wait to watch the show’s conclusion tonight. What’s Your Survival Guy Doing with His Cash? You don’t need to see the show to know what happens when someone … [Read more...]
WAR AND FAMINE? Europe Braces for Food Shortages Caused by Energy Rationing
Rationing, famine, war. Sounds like the 1940s in Europe rather than 2022. Farmers and food producers are warning that energy rationing and food shortages might hit this winter. Andy Bounds and Judith Evan report for the Financial Times: Farmers and food producers in Europe have warned of seasonal shortages and significant price increases across a wide range of everyday products this winter, as they called for government support to offset surging energy costs. Copa-Cogeca, the EU farmers’ union, and FoodDrink Europe and PFP, two of the big food producer associations, said their members had … [Read more...]
FOCUS ON GROWTH: Avoid Income Redistribution on High Octane
When it comes to compound growth in your life it all comes down to you. Thankfully. You can’t count on any help from the government. Because rather than helping you grow, the leadership in Washington is relying on your money to do the heavy lifting for others. It’s income redistribution on high octane. What I want for you is a life built around compounding. What that means is not losing money or whatever it is you value. You need to keep building upon your foundation. That foundation needs to be rock solid. Action Line: Now is a great time to take inventory and look at areas where you … [Read more...]
CASH FOR CARS: Flush Americans Are Spending their Money on Luxury Cars
In the very strange post-lockdown economy, some Americans are flush with cash, and they're using that cash to splurge on luxury cars. Teslas, Bentleys, Lambos, and other high-end cars are being snapped up by buyers. Ryan Felton reports in The Wall Street Journal: More Americans are opting to buy luxury vehicles than ever before, a shift fueled by cash-rich buyers who were able to bank savings during the pandemic and growing wealth among shoppers in the upper-income brackets. The share of new vehicles sold by luxury brands, … [Read more...]
Rich Grandchild, Poor Grandchild
UPDATE 9.6.22: Lori Ioannou of The Wall Street Journal calls dividend stocks the "new darling on Wall Street." She writes: These securities are considered a good buffer during times of market volatility. They also are seen as an inflation hedge, considering that S&P 500 dividend growth has outpaced inflation since 2000. Below you can read one of my favorite pieces of investment advice, Rich Man, Poor Man, written by Richard Russell in his Dow Theory Letters on September 22, 1982. Russell explains four key points in investing, beginning with the benefits of compounding. Compounding, … [Read more...]
PUNISHING SUCCESS: Europe Sets Windfall Taxes on Banks
Bank profits have been rising in Europe, so of course, politicians want a cut. Patricia Kowsmann reports on European governments' new taxation plans in The Wall Street Journal, writing: European banks have started to reap higher profits from rising interest rates—and governments are already starting to clamp down on them. In Spain, the government has laid out plans to tax lenders on their rising income and use the money to alleviate higher living costs for the population. Hungary has imposed a similar measure, and the Czech Republic, where inflation is above 17%, is also considering such a … [Read more...]
Let’s Celebrate WORK this Labor Day Weekend
Mike Rowe’s been championing the workers of Main Street America for as long as I can remember. I remember like it was yesterday watching his show “Dirty Jobs” with my kids and how he was relatable to us. We had talks about all kinds of odd jobs and how they make the world go ‘round. When it was time to rake leaves, they’d put on their tiny gloves and were ready to “get to work, Dad!” What kid, when they’re little, doesn’t want to go outside and help Dad work? Sure it stretched the work out longer than it should have taken, but I wouldn’t trade that memory for anything. Action Line: Share … [Read more...]
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