Sweet

Ozempic appears to be associated with depression. Not sure it’s the wonder drug claimed. Plus, a lot of people enjoy nice food, myself included.

https://twitter.com/StockMKTNewz/status/1708926458062676362

Is it really a doghouse portfolio without Fannie Mae and Freddie Mac? Or is that the dog poop you clean up and toss in the garbage and never think about again?

The difference here, unlike the previous iterations of smart glasses, is they look good and they appear to be functional as actual glasses - not some dorky tech. I don’t think it’s a phone replacement but I can imagine these being used.

I think the smart glasses so far have been very underwhelming and I wasn’t surprised they didn’t take off. But these glasses from Meta look like a big improvement and might actually be useful:

“I’ve sacrificed my career’: My husband and I may divorce soon, but he will inherit $1 million. How do I make sure I get half?” https://www.marketwatch.com/story/ive-sacrificed-my-career-my-husband-and-i-may-divorce-soon-but-he-will-inherit-1-million-how-do-i-make-sure-i-get-half-a30986cb?mod=home-page Anyone here thinks she deserves half of the 1 million potential inheritance?

Not seeing much a slow down in oil. This is the problem with this sector. The companies should be shitting money out of their ass and giving it back to shareholders who have got wrecked if you were a long term holder. Instead it’s going to new production, new average highs in production from the sector which supposedly found religion.

He would have to be

Suncor might be doing well now but what have they done for shareholders in the last 15 years. It’s not a company I’m familiar with but the sector as a whole just underperforms. I checked the PE - it’s at 10 a healthy multiple. I think oil price spikes higher on occasions but demand gets hurt when it does and supply responds - faster than ever. I just don’t expect multiple expansion, most companies don’t deserve it.

You looking at it incorrectly in my opinion. The reason for investing then was price which was the opportunity. We are at a level right now where much above starts to 1) disrupt demand, and 2) bring additional supply to the market. We were at $130 dollars at many oil stocks still down from their high. I was 90%+ energy in about September 2020 and now I’m about 10%, there are better opportunities IMO.

I don’t know guys. I’d argue that if you are very smart, you should be smart enough to get out of your own way.

Not to pick on Burry, but predicting tops is hard: Stanley Druckenmiller has made many similar top calls, but he’s more of a trading than investor and he still does well.

It’s not September 2020 anymore. I was 90% O&G at the time. I think energy stays a comparatively low multiple investment for many years. For you to make out from here, I think companies have to buy a hell of a lot of shares back, or pay fat dividends and many aren’t. Which comes to the major problem with these sector, in my view management generally is poor and not particularly shareholder friendly. It’s obvious what many of them should be doing yet they don’t do it.

That’s crazy and the PE is 6. These financial firms are just soo complicated that I’ve no idea how to play them.

Incredibly friendly shareholder management.

I’m not referring to his performance. Do other funds managers go off the reservation sticking their money in a macro bet outside the scope of what the investors believed the fund was about? Sure they made out well in the end, but that’s not his money to be fucking around with.

What is his track record over the last 10 years - is if public? He is no hero, he rolled the dice with his investors money. He has been top picking and recession predicting ever since. As Spek says, probably would have been better to stay away from the macro stuff.

I can’t remember the last time Burry wasn’t bearish on the market. He’s turned into one of these guys that spends his time trying to call market tops or predicting the economy is going into a recession.

Exactly yes. Production be even higher were it not for ESG, even with ESG it is already all time high. BP is really the only company that I can think of that went hard on ESG.

ESG is really only hindering production in the West. The rest of the world doesn’t give a crap. I expect energy (generally) to remain fairly static from here. The companies need to pay fat dividends and they aren’t.

Burry should take his own advice.

This. When I started investing the forum I originally posted on was full of pessimistic people calling market tops. The amount of money I lost by listening to them and not just buying equities is not worth thinking about. Valuations of the overall market might be high, but the market doesn’t have to correct anytime soon, and if it does it might manifest itself as a smaller 5 year return without a significant drop. There seems to be this expectation of a deep stock market reversal. I’ve been hearing this said for years now. I think the market valuation is lofty too, and I think rates will bring those valuations down… when and by how much is impossible to know so I just ignore. Pick your spots and avoid the hyped up shit. Nobody is forcing you to own the broad market. And fundamentally the market is different now. There are soo much monthly flows from pension funds just blindly indexing, all the time, every month. The market has an enormous wind at its back that’s hard to fight against.

“Tantalising sign of possible life on faraway world”https://www.bbc.co.uk/news/science-environment-66786611.amp

The people calling for a recession and stock market crash this time last year were fixated on some data mined figure that stated “we never had x without a major recessions” or “a stock market correction has always followed y”. We had a recession and sure a lot of the excess was trimmed during covid. To expect another massive blow out for the economy seemed unlikely then and now.

Surprising: