Paul Berger of The Wall Street Journal tells his readers that industry analysts say many trucking companies are barely clinging on as freight rates are in retreat, thanks in part to earnings they tucked away during the pandemic. He writes: A push by retailers and manufacturers to cut shipping costs is sending trucking industry hopes of an earnings rebound into a skid. Freight rates have been retreating for much of the year in the trucking sector’s spot market. Analysts and industry executives say longer-term contract prices are also declining as shipping customers focus on keeping … [Read more...]
“Happy I Found Richard C. Young’s Intelligence Report”
“Happy I found Richard C. Young’s Intelligence Report all those years ago,” you told me yesterday. “Because we wouldn’t be talking this morning about investing if I hadn’t. Your father-in-law’s monthly letters kept us on track. He kept us focused on saving and compound interest.” That wasn’t the first time I’d heard that. And what many of you tell me is how much you loved the opening paragraph and how that kept you interested. I know how much time and effort Dick and Debbie put into the opening because I was around the house when they were working on it. It was usually said with excitement, … [Read more...]
Home Energy Storage Boom in U.S.
Ed Cooks of WoodMac.com tells his readers that changes to net metering rules in California have created new incentives to add batteries to solar systems. He writes: Alexis de Tocqueville, the French diplomat and famous observer of America, noted in 1840 that in democratic countries such as the US, a citizen’s independence “fills him with self-reliance and pride amongst his equals”. That same spirit might have been expected to help make the US a global leader in residential solar power, with homeowners wanting to reduce their reliance on the grid. In fact, however, the US has lagged far … [Read more...]
FBI Probes Baltimore Bridge Collapse
Sadie Gurman, Costas Paris, and Scott Calvert of The Wall Street Journal tell their readers of an FBI probe into whether the crew aboard the containership Dali failed to report any problems with the vessel before it left port. They report: The FBI has opened a criminal investigation into the circumstances leading up to last month’s deadly collapse of the Francis Scott Key Bridge in Baltimore, a law-enforcement official said on Monday. The probe is examining issues including whether the crew aboard the containership Dali failed to report any problems with the vessel before it left port, the … [Read more...]
China’s Plan for Strategic Coal Reserve
Reuters reports that China's state planner has finalized a rule to set up a coal production reserve system. They write: China's state planner on Friday finalised a rule to set up a domestic coal production reserve system by 2027, aimed at stabilising thermal coal prices and supplies to power plants. The rule, which was first issued in draft form by the National Development and Reform Commission (NDRC) in December, called for 300 million metric tons of "dispatchable" annual coal production by 2030, equivalent to about 6% of last year's output. China set a goal in 2021 to have coal … [Read more...]
Your Retirement Life: Watching The Masters and More
Happy Monday. I hope you had a nice weekend catching some of The Masters from near and far. I remember like it was yesterday, now 25-plus years ago, how Becky and I, newlyweds, enjoyed having it on while getting dinner ready. Watching it this weekend, it’s hard to believe how fast time goes by. It’s a reminder of how investing is a study in time—making it work for you and how investing, not speculation, requires patience and avoiding the big mistakes. One step in front of the other. When you have shared experiences, it makes your life so much easier and more enjoyable. We were having dinner … [Read more...]
U.S. Wants to Cripple Russia’s Vast Arctic LNG Project
Anna Hirtenstein and Georgi Kantchev of The Wall Street Journal report that Washington wants to ensure Putin’s flagship liquefied-natural-gas project is ‘dead in the water.’ They Write: Supercooled gas has quickly become one of the world’s most important energy sources—and a flashpoint between Russia and the U.S. Nowhere is that contest more apparent than in Russia’s Arctic north. An enormous new coastal facility is being built there to produce liquefied natural gas, a key project for Russian President Vladimir Putin. The U.S. is using a barrage of sanctions to cripple the initiative, … [Read more...]
Metals Swing Sharply on Russian Sanctions
Bloomberg reports that metals whipsawed as sanctions on new Russian supplies rattled the LME. They write: Metals swung sharply, with aluminum surging by a record before later erasing most of its gains, as traders digest US and UK sanctions that banned delivery of new Russian supplies onto the London Metal Exchange. The curbs on aluminum, nickel and copper announced late Friday don’t prevent Russia from selling its metals to buyers outside the US or UK, and don’t restrict the vast majority of the global trade in metals — which takes place directly between miners, traders and manufacturers … [Read more...]
America’s Pandemic-Driven Warehouse Boom is Losing Steam
Liz Young of The Wall Street Journal tells her readers that average leasing rates across the U.S. have flattened out, with deals to be had. She writes: Taylor Wood says bargaining with warehouse owners for storage space is far different than during the pandemic, when demand for industrial space was red hot. “I’ve never seen a market like that, where we were basically scratching and clawing for every building,” said Wood, a broker at real estate services firm Savills. “There were five offers on every building.” Now, Wood sees signs rents are flattening nationwide and even ticking … [Read more...]
Your Retirement Life: A Living Income from Savings
You want a forward-looking indicator? Look at the stock market or 10-year Treasury bond—both flashing warning signs this week. But how about years from now? What will the decades ahead—your retirement life—look like? What if we’re going back in time? You and I, we’re in the business of patience. With so much attention paid to what the market did this week or who won last night’s game, it can be difficult to remember that investing is an endeavor in b-o-r-i-n-g. At least until you have enough to retire on, and then it’s fun. Saving money takes time. Every day you’re taking baby steps … [Read more...]
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