In lieu of Israel attacking Iran, I’m bullish on oil and maintain a position. However, once this song and dance finishes, I’m getting out of oil. It has been a dead asset class for two years and the upside is capped, partly thanks to the proliferation of Chinese EVs.
I’m in a cautious position, 43% cash, short $IWM and the rest long a pastiche of somewhat diverse names, off by 22bps. I had nearly 9% in China names at the open and took those for losses, following last night’s pullback in the Hang Seng.
In regards to the port strike, this is something that should concern you as it can quite literally destroy Christmas. We don’t hear much about it now because it just started. But after a month or two, you’ll be crying like little bitches. To invest for this, think foreign and think local; extricate yourself from companies dependent on a global supply chain into those respective ports.
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NY Post has an article about the union boss Harold Daggett and his lavish lifestyle.
That says they’re going to go after the head of the snake in order to reach a deal quickly.
I agree Metal. He’s a lot of bluff and when his peeps see his lifestyle they’ll peel away. Less than 2 weeks.