Video

Learning from other Industries

An Old Film on the Stock Market

http://www.historicfilms.com/tapes/5008

PRESENTS BEHIND-THE-SCENES DOCUMENTARY OF A DAY ON WALL STREET FROM OPENING GONG TO CLOSING OF THE DAY’S TRADING IN THE STOCK MARKET. FURIOUS PACE OF NEW YORK & AMERICAN STOCK EXCHANGES AND COMMODITY TRADING MARKETS AS LEADING BROKERS AND TRADERS EXPLAIN THEIR BUYING AND SELLING PHILOSOPHIES WITHOUT INTERRUPTING THEIR ACTIVITIES ON THE FLOOR. This covers the history of the stock market mostly from 1920 to 1960. Fascinating.

Stock market
Excellent talk on the cyclicality of uranium and how to invest https://youtu.be/uH0OE_M3oXk

Playing the Odds

https://www.zerohedge.com/news/2019-07-23/what-risk-lessons-poker-can-teach-you-about-investing

Don’t Neglect the Forgotten

A forgotten sector comes to life
Miners decline relative to gold as investors give up on poor capital allocation by managers who paid high prices at the top of the last cycle 2007/2011. But that has changed as the sector has been starved of capital for years. Go where they ain’t.
A forgotten miner in an opaque market (Uranium). Eventually, the market MUST turn. An investor has to have a very (five years at least) timeframe for this market.


BANG stocks (Barrick, Agnico, Newmont and Goldcore vs. the FANG stocks–meaningless in the short-term but of interest to watch.

Winning the Lottery

https://www.cbsnews.com/news/jerry-and-marge-selbee-how-a-retired-couple-won-millions-using-a-lottery-loophole-60-minutes/

Short Squeeze

Posted for Reference

It’s the short squeeze of a vegan’s paradise. Shares of Beyond Meat (NASDAQ:BYND) jumped another 21% yesterday on an earnings beat, or really a loss beat, the company losing only $6.6 million on total net revenues of just over $40 million. The company now has a market cap of over $9 billion, and short borrowing costs keep rising. 51% of the company’s float is still being held short, which means the short squeeze can continue if the positions can’t be maintained, which would be especially relevant if the broader market starts to fall while Beyond keeps rising. There is about $800 million left in short positions on the stock. The short side is down about $400 million since January, while the stock is up about 650% since its IPO at $25.

Daniel Lacalle@dlacalle_IAQE is disinflationary because it perpetuates overcapacity and unproductive debt, yet it is massively inflationary on risky assets because the objective is to make rising government spending cheap. Hypernflation created in financial assets as sovereign bonds artificially inflated

Faith in Central Banks

Does a CFA or MBA add Value?

Dincer, Oguzhan C. and Gregory-Allen, Russell B. and Shawky, Hany A., Are You Smarter than a CFA’er? (January 12, 2010). Available at SSRN: https://ssrn.com/abstract=1458219 or http://dx.doi.org/10.2139/ssrn.1458219

Deja Vu

In the summer of 1929 the surface of Wall Street was a mixture of placidity and mania – stock averages at record highs and still headed upward, the dissenters momentarily routed … Roger Babson said to an audience at a routine New England financial luncheon, ‘I repeat what I said at this time last year and the year before, that sooner or later a crash is coming.’ As Babson implied, his earlier warnings had been roundly ignored… When the crash finally came, it came with a kind of surrealistic slowness – so gradually that, on the one hand, it was possible to live through a good part of it without realizing it was happening, and, on the other hand, it was possible to believe that one had experienced and survived it when in fact it had no more than just begun.

– John Brooks, Once in Golconda, 1969

Current Events

An indication of higher risk in small caps