We highlighted before the decline in capex by (predominantly Western) oil and gas companies. Take a look at this chart, which shows just how steep this drop is: The irony of the situation is this lack of spending on replacing reserves is paving the way for a repeat of the

📈  INFLATION: THE CAT IS OUT OF THE BAG Over in the US, the core CPI just hit the highest level in nearly 30 years: Not to mention the fact that food prices are up 40% in some cases over the past year. But don’t fret. The pointy-shoed experts have

A month ago, on 27 April, we said au revoir to our bitcoin holdings. After hanging on to our coins for years (we were bullish on bitcoin since 2014 and recommended it to clients at $450), we sold our entire position. So why the change of heart? As we explained it

📉   THE CURSE OF THE IPO One of the best contrarian indicators are major IPOs (or ETF listings) in a particular sector. Looking back, the recent Coinbase IPO appears to perfectly fit that bill. Here’s Bloomberg on the topic: Throughout history, initial public offerings have taken place at peaks of

🛢️ DATA COPPER IS THE NEW OIL It turns out copper, not data, is the new oil: This prompted us to dust off an old Insider Weekly issue from March 2020, where we highlighted the asymmetry that copper — and a host of other resource markets — offered at the time. Energy, copper,

How come the iShares ESG USA Index (ESGU) has a 2.5% weighting to oil and gas stocks? And how come that weighting is more or less the same as the S&P 500? It’s almost as if we’re being played. While this might get us termed “climate deniers” or whatever the label

  CRYPTOMANIA We highlighted the curious case of Dogecoin last week. Just $1,000 into what started as a joke cryptocurrency at the start of the year would now be enough to buy a Tesla. Have you ever seen a chart like this before which ended well? We haven’t. As Chris put

🥊 SPACS ARE GETTING SPANKED It was just a few weeks ago when SPACs were all the rage and we saw headlines like these: What a wonderful contrarian indicator that was. Whenever you see the media crowning the next Warren Buffett, we are probably either close to the top or