ankara
Current Affairs/Politics
CapEx Team

THANK YOU, NATO

The reason to consider Turkey is because, as we move into a time of increased uncertainty, and with the power vacuum left by the United States, I believe Turkey will once again become a key player. Not many Westerners seem to consider Turkey, which I find odd given its geographical location. Given that I’ll be there by the time you read this, let’s spend a wee bit of time on some thoughts on how it may fit into this new

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Capitalist Viewpoints
CapEx Team

ANGLOS: GO WOKE, GO BROKE!

Remember last year when Anglos got rid of their thermal coal assets in South Africa, doing the “woke politically correct” thing. Well, what another brilliant wealth-creating exercise. Look at what has happened to the coal “assets” (more like liabilities in Anglo’s eyes): Oh, my gracious! Look at the valuations and returns. Isn’t it bizarre? Just 7 months ago Europe was sending a delegation to South Africa with the aim of getting the country off coal. From Bloomberg: Well, lookie here… fast

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food prices
Agriculture
CapEx Team

GERMAN FOOD PRICES RISE 20-50%

Isn’t it weird how all of a sudden hell breaks loose on the inflationary front. Inflation in Germany is more or less the highest in at least a couple of generations. Ah, blame it on the Russians. While inflation may be at the highest in a few generations, bond yields are near their lowest. Clearly the bond market thinks that the inflation we are witnessing is “transitory.” This is being echoed by the ECB and their “neat little forecast.” Wow, if

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Currency
CapEx Team

EU TO BLOCK RUSSIAN COAL

So the EU, already in the middle of the worst energy crisis since the Arab oil crisis and likely worse, is now pushing to eliminate imports of Russian coal. Just so you understand the importance of Russian coal to Europe… Some 70% of Europe’s thermal coal comes from Russia. Coal accounts for about 20% of continental Europe’s electricity production (as of 2019; perhaps it is 25% now). Watching the news is enough to drive a man to drink or to put

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Uncategorized
CapEx Team

Central bank hubris bubble: finally bursting? – OWTW

🤔 WHAT TO DO? With bonds cracking this year… We wanted to share some thoughts around a question we got from a client the other day. It went something like this: I’ve got this money sitting with XYZ, and it’s basically in a 60/40 equity-bond split. I’m down a lot but I want to wait till it comes back, and then I’ll sell it and put it into Insider type sectors. What do you think? This is a common question

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inflation
Capitalist Viewpoints
CapEx Team

FOOD

German retailer Aldi Nord to raise prices by 20-50% on Monday German retailer Aldi Nord will raise its prices by an average of 20-50% due to an increase in production costs, local media reported on Sunday. From Monday onwards, meat, sausage products, and butter will be “significantly more expensive,” a company spokesman told German press agency DPA, adding that the price hikes in various products were necessary due to the rise in manufacturing costs. And boom! Overnight, food prices are rising

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Current Affairs/Politics
CapEx Team

UKRAINE PLAY?

I received a query from a subscriber as per below: Trade idea: After the war in Ukraine subsides, we’ll likely see a huge injection of capital to rebuild the bombed cities. Is there a micro play here on a few larger Ukrainian construction / raw materials / home builders that are most probable to benefit from the larger share of this cash injection? @lucas maybe this is worth discussing with Chris and Brad now rather than waiting for the next

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inflation
CapEx Team

NEW RULES. NO RULES

For most of us we’ve not lived in this sort of environment before — one where all that we’ve trusted is shattered. There is momentous change taking place right now. Let us cover some ground here just to see how far things have come so that we don’t delude ourselves. In times of exponential change it is better to be faster than it is to be precise. In essence speed trumps finesse. Part of a disturbing trend over the last

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