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...]
Baltimore Bridge Collapse Upending U.S. Supply Chains
The Dali containership stuck under Baltimore’s collapsed Francis Scott Key Bridge may remain in place for weeks, blocking shipping at one of the U.S.'s busiest ports. Here’s what that means for major industry supply chains. … [Read more...]
U.S. Electrical Grid: Is America Being Set Up for Failure?
Sarah Shinton of IndustryWeek tells her readers that advanced semiconductor equipment requires ten times more power, and the U.S. grid is not up to the task. She writes: In 2022, the White House signed the CHIPS and Science Act into law, a bipartisan effort to increase domestic advanced semiconductor manufacturing. The legislation made a historic $52 billion investment in American semiconductor research, manufacturing and workforce development. Over a year later, new projects are facing construction delays and permitting issues, raising concerns over efforts to expand domestic … [Read more...]
Happy Easter!
Happy Easter from Dick and Debbie in the Florida Keys. … [Read more...]
Happy Easter: Enjoy the Sweet, Parisian, Macaron
Now owned by billionaire Stephane Courbit’s LOV group, Ladurée is celebrating its 162-year anniversary, and as I wrote to you back in 2019, that’s a lot of history. Standing on the steps of the Madeleine church in the 8th arrondissement, looking down Rue Royale, you can see the Place de la Concorde. Where Rue Royale meets Rue du Faubourg Saint Honore, across the street from Gucci, you’ll see the mint green awnings of maison Ladurée, home to the macaron (pronounced mah-kuh-ron)—meringue like cookies, the color of Easter eggs, sandwiched with an emulsified filling. Groupe Holder is the … [Read more...]
Happy Easter: A Family Hunt for Dow 80,000
As you prepare for the quarter’s end, let’s reflect on where we’ve been. As the Dow Jones Industrial Average temporarily crossed 40,000 were you reminded of how far we’ve come? Because in my conversations with you, you tell me you remember when it was Dow 10,000, 6,000, or lower. The older we get, the higher the Dow goes, the more astonishing its new highs become. I know this isn’t your father’s or your grandfather’s stock market. But it can feel like it. What has been true at different stages for them might be true for you: Stocks tend to go up, but not on your schedule. Who doesn’t … [Read more...]
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