OWTW
CapEx Team

WallStreetBets, Meet Yellowcake – OWTW

After helping push up meme stocks to the moon, WallStreetBets has now zeroed in on an unlikely target: uranium. Yes, you read that right! If you are a long-time reader, uranium has probably been on your radar for a while (in Insider we first dipped our toes in uranium stocks in September 2016 and then doubled down on them in late 2018), and you are probably tired of hearing us drone on about it. That said, the author of this

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OWTW
CapEx Team

Bargains in a Bubbly World – OWTW

📦  ANOTHER “TRANSITORY” ISSUE THAT WASN’T Turns out the supply chain shortages that have been plaguing the global economy for the last 12-ish months aren’t as “transitory” as we were told all this time. Who woulda thunk it? If you’re a long-time reader, this shouldn’t come as a surprise. It’s something we have been highlighting for well over a year now as we saw country after country either willingly or unwillingly but coercively lock down their economies and pha-kup supply chains.

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OWTW
CapEx Team

The Biggest Bubble of All Time – OWTW

At the risk of sounding like a broken record, we remind folks of one of the grandest bubbles of all time, one that we have been positioning for: an unwind of the value of financial assets relative to hard assets. It is so easy to see the bubble. But waiting for the bubble to unwind takes years, and it is the waiting that is the hardest part. One thing we do know is that you really, really, and we mean

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OWTW
CapEx Team

The Greatest Error in History – OWTW

The following quote from John Hussman caught our attention (h/t to @SeekerRisk for the annotated chart): With that in mind, we often get asked the question along the lines of, “Markets seem over extended. How about buying some puts to provide downside protection?” We always encourage folks to stick with their trading strategy. If you are a value investor, then look for value situations and don’t be concerned about what happens with the S&P, Nasdaq, etc. If you are a genuine

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OWTW
CapEx Team

The Most Terrifying Map in the World – OWTW

If there ever was a time when you could see a trend solidly in motion, now is it. 💻  TO TECH, OR NOT TO TECH? Staying with China for another moment… sometimes knowing where not to be is just as important as knowing where to be. After all, all investments are a matter of opportunity costs and probabilities. It’s why we’ve been curiously watching the implosion of Chinese tech stocks. The way we put it in the most recent issue of

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OWTW
CapEx Team

💰 The tale of two ETFs – OWTW

🖥️  LONG TECH STOCKS = LONG BONDS Morgan Stanley is echoing our thoughts on the relationship between bonds and tech. To us this highlights how interlinked many markets are and how the general stock market (with its huge weighting in tech/growth stocks) is probably not a great hedge against inflation. From the article: Perhaps you now are beginning to understand why we are “balls to the wall” long commodity based stocks. Not only do we have extremes in tech, but extremes

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OWTW
CapEx Team

Beware the Witches – OWTW

🛢️  THE STATE OF OIL & GAS While nothing we don’t already know, this Bloomberg piece provides a terrific insight into how pervasive and powerful the ESG hysteria really is (even among the “Big Boys”) and what that means for the energy market: We have relationships with approximately 400 institutional investors and close relationships with 100. Approximately one is willing to give new capital to oil and gas investment. The story is the same for public companies and international exploration. This

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OWTW
CapEx Team

The Decade of Coal? – OWTW

While we’re being told coal is having “an existential crisis,” The Wall Street Journal reports: Coal was in decline for years in many countries, but its use is now picking up in the U.S., China and Europe despite growing pressure from governments, investors and environmentalists to curb carbon emissions. The leading reason for the uptick—which has pushed coal prices to multiyear highs—is rising power demand as economies reopen rapidly from pandemic hibernation. Now, the talking heads are too quick to

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