Your investment success or failure may come from how you invest, not necessarily what you invest in. As you know, the pangs of pain from losing money far outweigh the euphoria of making it. We are human. We like to win. We hate to lose. Why, then, do we tend to invest in areas that are going up instead of areas that are going down and offer good “value?” FOMO or fear of missing the boat? To understand risk and reward, I’ll point you to the efficient frontier. The Efficient Frontier, created by Harry Markowitz in 1952, measures the efficient diversification of investments that delivers … [Read more...]
Nvidia Partner Bets $4 Billion on Chip Packaging Plant in U.S.
Jiyoung Sohn and John Keilman of The Wall Street Journal report that Nvidia partner SK Hynix is betting $3.9 billion on the Midwest’s chip-making potential. They write: South Korea’s SK Hynix said it plans to invest $3.9 billion in an advanced chip-packaging facility in West Lafayette, Ind., the latest win for Midwestern states seeking a bigger piece of America’s burgeoning semiconductor industry. The planned plant is set to mass-produce high-bandwidth memory, or HBM, a critical component to artificial-intelligence computing, SK Hynix said Wednesday. The facility, which will also host … [Read more...]
Earthquake Tests World’s Chip-Making Hub
Yang Jie of The Wall Street Journal tells his readers about how a Taiwan earthquake tested the readiness of the world's chip-making hub. Jie writes: The world’s most important semiconductor-manufacturing hub is also one of the world’s biggest earthquake hot spots, and it was put to the test Wednesday after a powerful quake. Taiwan Semiconductor Manufacturing—which makes chips for customers such as Apple and occupies a critical place in the global electronics supply chain—has prepared for years for a quake, drawing on lessons from a 2011 disaster in Japan among others. TSMC briefly … [Read more...]
Index Investing: Losing Your Vote in America’s Business
Are you losing your sense of place in America? Specifically, are you in touch with how you’re investing and not simply on autopilot? Because what we’re seeing with firms like BlackRock, State Street, and Vanguard (collectively managing $23 trillion), is their views are being voted with other people’s money. You, the investor, are the one with some skin in the game. Shouldn’t you be heard and not looked upon as a tool for their politics? I think so. When it comes to index investing, which used to be a passive endeavor, it’s a long way from where it started. Even the Total Stock Market Index … [Read more...]
The Fight for Guyana’s Stabroek Block Could Reshape Big Oil
Javier Blas of Bloomberg reports that the rights to an offshore field containing 11 billion barrels of oil are at stake in an arbitration dispute. Blas writes: The prize is called Stabroek — a series of oil fields off the coast of Guyana, the Latin American nation bordering Venezuela and Brazil. The potential riches are incredible — about 11 billion barrels of oil, worth nearly $1 trillion at current prices. And Stabroek is now at the center of a legal battle that hinges on the meaning of a few words contained in a secret document, probably about 100 pages long. The outcome will reshape Big … [Read more...]
EV Giant Shows Troubling Production Decline
Rebecca Elliott of The Wall Street Journal reports that Tesla cited production setbacks for a drop in sales, which was worse than analysts expected. She writes: Tesla TSLA reported its first year-over-year decline in quarterly deliveries since 2020, badly missing Wall Street’s expectations and stoking further concern about the company’s growth prospects this year. Elon Musk’s electric-vehicle maker delivered 386,810 vehicles globally in the first three months of 2024, down 8.5% from a year earlier. It was the company’s lowest quarterly performance since the third quarter of 2022. The … [Read more...]
Holiday Gatherings Are Tough on The Prudent Man
Holiday gatherings are tough on The Prudent Man. Because while everyone is happy to tell you how well they’re doing in the stock market, it’s The Prudent Man who knows how fleeting temporary gains can be. The Prudent Man knows his course, his path. He’s not quiet about it. Hardly. He locks eyes with the storyteller, knowing the final chapter’s end before it’s written. Yes, The Prudent Man tells his listeners the way he sees it—his vision—understanding that most investors won’t be able to handle his path. Temptation in markets, especially ones moving higher, is too much for lay investors to … [Read more...]
Lithium Prices have Flipped the Market Into Contango
Yvonne Yue Li of Bloomberg reports that the drop in lithium prices has flipped the market into contango — when futures prices are higher than spot. This change has created opportunities for funds. She writes: Trading of CME Group Inc.’s nearly three-year-old lithium hydroxide futures contract is soaring, with more funds crowding into the budding market as prices of the battery metal falter. The number of outstanding contracts hit a record high of 24,328 in the first quarter, and open interest extends to September 2025 — an indication of more liquidity for the nascent contract, according … [Read more...]
After 20 Years USPS Taps New Air Cargo Partner
Esther Fung and Will Feuer of The Wall Street Journal report that the United States Postal Service has made a change after 20 years and will no longer use FedEx for moving its air cargo starting in September 2024. They write: The U.S. Postal Service has tapped United Parcel Service as its primary partner for moving cargo by air, replacing FedEx, which had provided the service for more than two decades. The new contract between UPS and USPS will begin in late September and run through at least March 2030, the Postal Service said Monday. Under the agreement, UPS will handle domestic air … [Read more...]
Survive and Thrive March 2024: How You Livin’? Crossing on the Queen Mary 2
Dear Survivor, As my nephew asked me the other day, home from college and all the stuff one learns: “Uncle E, how you livin’?” “How I’m livin’?” I thought to myself. I haven’t thought about it. But it gets right to the point, doesn’t it? Which brings me to my conversations with you. I know how you’re livin’—quite well—because you tell me. Here’s what you’re doing. Fly fishing the Keys, catching some rays in St. Somewhere, hitting the powder out West, spending plenty of time relaxing on the beach, paying exorbitant prices for boat drinks, building houses and dreams, planning more … [Read more...]
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