If you’re a client of Richard C. Young & Co., then you know how much we love Baby’s Coffee—Southernmost Coffee Roasters in America. Clients of mine sent this pic yesterday telling me how much they enjoyed a recent trip to Key West. They look happy, don’t they? You know what’s worth noting is we didn’t spend a ton of time talking about the market today (Monday), even with it being shut down after opening down more than 7%. We talked about it, no doubt, but we had more fun talking about stone crab claws and their beautiful Airstream. Talk about timeless. You and I know the future is … [Read more...]
Russia & Saudi Arabia Blow up OPEC Coalition
Yesterday’s market rout was made worse by a collapse in the OPEC+ oil coalition. Saudi Arabia wanted to cut production by 1.5 million barrels per day to deal with falling demand resulting from the coronavirus. Russia didn’t like the idea, complaining that the cut would be a gift to U.S. shale producers. Without participation from Russia, Saudi Arabia decided to reverse course and pump oil all-out into a market where demand is collapsing. Anticipating more supply and much less demand, traders shaved 25% off of the price of oil on Monday. Neither country’s decision makes a lot of economic … [Read more...]
Walmart Expands Private Trucking Fleet
Walmart, already one of America's biggest trucking fleet owners, is planning to expand its fleet with 500 more drivers in the next few months. CCJ's James Jaillet reports: Walmart Transportation, which last year aggressively grew its private fleet by 900 drivers, hopes to continue that growth this year by adding another 500 drivers in the coming months. The fleet’s expansion is meant to serve a two-fold purpose: To keep up with demand from the retail giant’s sales growth both in stores and online and to bring more of its transportation needs in house — and away from the for-hire … [Read more...]
Coronavirus Infects Stock Market: Part XI
One of the challenges of having high school kids in different schools is scheduling—they’re not on the same one—which is how Owen and I ended up skiing Friday at Attitash, NH, while Izzy was in school. My parents spend much of their winter in New Hampshire skiing (it’s early Saturday morning as I’m writing to you), and we had a great day together yesterday on the slopes. Part of the reason Owen and I had to get up to our cabin was to bring our gear back home for our trip out west later this month. If you’re a ski family, you tend to gather a lot of ski gear. As I rummaged through my … [Read more...]
Coronavirus Infects Stock Market: Part X
When I was a junior in high school I spent a week as a crewmember on a schooner. One of my duties was taking a shift each night on watch. On calm nights it was pretty peaceful. But less so when the wind was up and the white caps lashed against the hull. On nights likes these, you had a more purposeful walk to the bow to check the anchor line. Our captain made the night watch a priority no matter the weather. I learned a lot from his seriousness and expertise. If you were to listen to the so-called experts, you would have sold your bonds a long, long time ago. Don’t listen to them. … [Read more...]
This Billionaire is Buying up the Energy Sector
While most investors are retreating, billionaire Sam Zell is buying up the energy sector. Shawn Langlois reports at MarketWatch: That’s Chicago billionaire Sam Zell talking to CNBC “Squawk Box” on Thursday about how he’s navigating his investments in the coronavirus scare. The founder of Equity Group Investments said he has added to his ownership stakes in a couple companies, including one in the beaten-down energy sector, which was under heavy selling pressure even before the recent drop in the broader stock market. The S&P 500 energy sector is the only sector in an outright bear … [Read more...]
UPS Hopes Self-Driving Trucks Can Deliver
UPS has announced an investment in TuSimple, the world's largest and most advanced self-driving truck company. Sean O'Kane reports for The Verge: UPS has had autonomous trucking startup TuSimple hauling cargo for it between Phoenix and Tucson, Arizona, since May as part of a newly publicized partnership between the two companies. The delivery giant made the announcement today alongside the news that its venture arm is taking a minority stake in TuSimple. Terms of the deal were not disclosed. TuSimple had previously run a partnership with the United States Postal Service in May, where … [Read more...]
Coronavirus Infects Stock Market: Part VIII
You know about my desire for you to find the shelter and space you deserve. Somewhere away from the hustle and bustle of crowds. Whether you find that peace of mind in, the burbs, small-town America, a resort, or whatever is your idea of paradise, the key is to remember that, yes, it can be done. What is my definition of paradise? Well, a simple back of the napkin question is this: Can you have your own flagpole? Simple yet meaningful. As I told you in Part IV of this series, my client won the real estate arbitrage game when he decided to buy his little slice of heaven. Little, … [Read more...]
Bigger is Not Better According to Europe’s High Court
On Tuesday, the European High Court gave a green light to tax laws that discriminate against big business. In Europe, that will have a disproportionate impact on the foreign Tech businesses, many of them American, which dominate the continent. Bloomberg Tax reports: Opponents of European digital services taxes may have lost one avenue of attack after Europe’s highest court ruled that progressive revenue taxes aren’t discriminatory. The Court of Justice of the European Union ruled Tuesday in two cases—involving Hungarian subsidiaries of Vodafone Group Plc and Tesco Plc—that … [Read more...]
Coronavirus Infects Stock Market: Part VII
Imagine missing Monday’s 1300-point gain if you sold your stocks Friday. It happens, especially when emotions run high and takeover your portfolio. Don’t let that be you. This could be a long row ahead. Nobody knows the future. You’re going to wonder if you’re on the right course. That’s normal. Don’t believe everything you’re told. I imagine you’ll probably meet someone who will tell you he sold his stocks at the top and got back in at the bottom. Lucky you! You’ll be talking to a real-life unicorn. Take a picture for your grandkids. As a side note, I want to talk to you … [Read more...]
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