james22

That's my thinking (BAM too). Added today.

Shifted some of my Emerging Markets fund (VEMAX) to US Small Value (VSIAX).

As an expat working from home (in-Kingdom) during this, I wonder if my employer might come to believe I can work as well from home in my home country and save themselves the expat (in-Kingdom hardship) premium they pay.

In order to understand the future of commercial real estate we must draw a distinction between companies’ shrinking demand for office space per employee and the market’s demand for office space. Companies take advantage of technological improvements to cut costs and reduce the amount of office space each worker occupies. As they cut costs, they become more productive; that is, the amount of value each worker adds to the enterprise goes up. More productive firms can increase profits while expanding their market share by lowering the price they charge customers. These lower overall prices expand the market and existing businesses add employees. Because there are profits to be had, new businesses start up and office space remains strongly in demand even though the space per worker at individual firms goes down. https://economics21.org/coronavirus-upends-nyc-commercial-real-estate

Works for me.

"I suggest extreme skepticism regarding any claims made by Sorrento (NASDAQ:SRNE)," one former employee tells Hindenburg Research. "I would never in my life have put out a press release where I say we have a cure," says a former executive. Hindenburg claims the company was nearly out of cash and facing solvency concerns ahead of its COVID-19 cure announcement. Hindenburg: "We believe that Sorrento’s actions are manipulative at the worst possible time and simply amount to an attempt to shamelessly profiteer off the pandemic." https://seekingalpha.com/news/3576349-sorrento-down-another-15-hindenburg-shorts

"Given the very effective data that we've seen, how potent this antibody is, we are very confident this could actually work out," said. Dr. Mark Brunswick from Sorrento Therapeutics. They haven't tested it on humans yet, but they plan to use this antibody with a combination of a few others to provide a cocktail that could work on people if the virus mutates. "So, if the virus mutates, you have different angles with different antibodies attached to it, so that way one of the mutations, one of the antibody, the other two still works," said Dr. Henry Ji from Sorrento. Sorrento plans to start ramping up production, but some scientists caution only 10% of drugs that enter clinical trials get approved by the FDA. ... Sorrento hopes to have an application to submit to the FDA by the end of the year for approval. https://www.nbcsandiego.com/news/local/antibody-effective-at-blocking-coronavirus-from-human-cells-sorrento-therapeutics/2326358/

I see no discussion of this? Later Friday, Sorrento Therapeutics will announce their discovery of the STI-1499 antibody, which the San Diego company said can provide "100% inhibition" of COVID-19, adding that a treatment could be available months before a vaccine hits the market. "We want to emphasize there is a cure. There is a solution that works 100 percent," Dr. Henry Ji, founder and CEO of Sorrento Therapeutics, told Fox News. "If we have the neutralizing antibody in your body, you don't need the social distancing. You can open up a society without fear." ... "When the antibody prevents a virus from entering a human cell, the virus cannot survive," Dr. Ji said. "If they cannot get into the cell, they cannot replicate. So it means that if we prevent the virus from getting the cell, the virus eventually dies out. The body clears out that virus." "This puts its arms around the virus. It wraps around the virus and moves them out of the body." Dr. Ji pointed out that the antibody can be used as preventative therapy since there are no side effects, and that it can be more effective than any vaccine that may be developed. "This is the best solution," he said. "The point of making a vaccine is to generalize a neutralizing antibody. So, if you already have one, you don't need to the body to generate one from a vaccine. You've already provided it. You're cutting out the middleman." https://www.foxnews.com/science/covid-cure-california-biopharmaceutical-coronavirus-antibody-breakthrough.amp

A little BRK.

Agreed. I think though it more of an opportunistic buy on an asset class they know well. Small bet though. The whole bet is at $1 billion on the four o&g companies. In contrast, they gave about $45 billion to Masa Son's vision fund through equity and pref equity. On a different note, interestingly Norway sovereign fund, in contrast to 2018 where it was buying the dip, as been off loading its equity to fulfill its obligation with its government. I agree it was smart. It'll always be a temptation to trade the asset class they know (and can manipulate). Maybe nothing wrong with that, but wonder if they've only recently come to the realization?

For almost two decades, Yale students have competed for admission each year to the “Studies in Grand Strategy” seminar taught by John Lewis Gaddis, Paul Kennedy, and Charles Hill. Its purpose has been to prepare future leaders for responsibilities they will face, through lessons drawn from history and the classics. Now Gaddis has distilled that teaching into a succinct, sharp and potentially transformational book, surveying statecraft from the ancient Greeks to Franklin D. Roosevelt and beyond. An unforgettable guide to the art of leadership, On Grand Strategy is, in every way, its own master class. https://www.amazon.com/Grand-Strategy-John-Lewis-Gaddis/dp/1594203512 https://www.wsj.com/articles/on-grand-strategy-review-the-war-against-decline-and-fall-1523915579 https://www.nytimes.com/2018/04/20/books/review/john-lewis-gaddis-on-grand-strategy.html https://www.wsj.com/articles/on-grand-strategy-review-the-war-against-decline-and-fall-1523915579 https://seekingalpha.com/article/4183007-are-you-fox-hedgehog-in-your-investing https://blogs.cfainstitute.org/investor/2013/08/07/charles-ellis-lessons-on-grand-strategy/

So much for diversifying their oil industry risk.

Well, some of those consumers will keep their Energy sector and related jobs of course. And did this not register at all?

Do you know how I know you don't live in Texas? Fair enough. Everyone outside of Texas hates oil companies. But even there the number has to be close to 50%. Maybe even higher in Austin... But I think most Americans like energy independence and recognize the national security aspect. Especially post-coronavirus. I believe a tariff would be pretty well received.

Do you know how I know you don't live in Texas?

Seeking Alpha showed/shows BAM as -30%. I got a little excited for a second.

Anyone believe Trump could ask for a 50% production cut without threatening a tariff?

Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect & hope that they will be cutting back approximately 10 Million Barrels, and maybe substantially more which, if it happens, will be GREAT for the oil & gas industry! https://twitter.com/realDonaldTrump/status/1245720677660925952 VDE +11%

That really is a simpleton's spin on it. He forgot to mention gasoline and diesel prices would rocket back up for everyone while helping the oil workers. Could do something like the AC link suggested: If the industry is protected when oil prices are low, the public ought to be protected when oil prices are high. If in the future the oil price were to rise above a specified level, the public should share in the proceeds through the progressive taxation of those profits. Call it a public-private partnership, with advantages for both parties.

Today, the Domestic Energy Producers Alliance (“DEPA”) announced the association’s support for an American anti-dumping action petition to be filed with the United States Department of Commerce and the United States International Trade Commission requesting the initiation of an antidumping and/or countervailing duty investigation regarding crude oil price manipulation by Saudi Arabia, Russia, and perhaps others. The petition will seek a determination that the recent actions taken by Saudi Arabia, Russia, and others to unreasonably increase their supply of crude oil at prices below market value will result in material injury to the U.S. domestic crude oil industry. DEPA Chairman, Harold Hamm said, “This is a direct attack on U.S. oil and gas producers. They are taking advantage of this corona virus pandemic that is sweeping the world to focus on this industry and to devastate it. These actions warrant the imposition of antidumping and/or countervailing duties on crude oil imported into the US from these countries. Saudi Arabia’s and Russia’s actions have already, and will continue to, harm U.S domestic crude oil producers and industry.” The petition seeks to protect the U.S. domestic crude oil industry, U.S. energy security, and the U.S. economy. DEPA is moving expeditiously to investigate and potentially to prepare a filing. https://depausa.org/depa-announces-anti-dumping-investigation/ https://www.theamericanconservative.com/articles/time-to-slap-a-tariff-on-oil-imports/ Trump to meet at White House with oil CEOs Goal is to talk potential aid to the industry, including tariffs on oil imports from Saudi Arabia...

Would you buy in anticipation of such a tariff, SD? Already have. Not to talk the book but look at WCP, IPL, MTL, etc. on the TSX. WCP has cut its dividend 50%, cut its capex spend, pays monthly, and has a cash yield of 17%+. Tariff wall goes up, the dividend gets restored, and its 35%. Nothing else happens and you double your money in 2 yrs. SD Thanks.

An Oilman’s Plea To President Trump What I’m saying is you need to fix the price of oil, maybe basin by basin, or one price for all. Set it at $62/bbl if one price for all. All imported oil would be subject to a tariff. This includes all the Sulphur-rich, low-quality oil the Saudi’s are sending into their state-owned Motiva refinery in Port Arthur, Texas, along with all the other heavy crudes shipped into our ports. Of course, they’re going to cry and moan, but so do my kids when I tell them no more TV. Now, this is putting a simpleton’s spin on it, but no bailout money would be required for the US oil and gas sector, plus you’d be sitting on those tariff dollars. https://oilprice.com/Energy/Energy-General/An-Oilmans-Plea-To-President-Trump.html

Would you buy in anticipation of such a tariff, SD?

With interest rates for the United States being at ZERO, this is the time to do our decades long awaited Infrastructure Bill. It should be VERY BIG & BOLD, Two Trillion Dollars, and be focused solely on jobs and rebuilding the once great infrastructure of our Country! Phase 4 https://twitter.com/realDonaldTrump/status/1245000074167541761

The Inevitable Zombie Apocalypse https://www.facebook.com/notes/john-ringo/the-inevitable-zombie-apocalypse/10150871745012055