Sweet

Looks like a broad range of tax rises. I think we are just as likely to see capital gains match income tax brackets across the board for property and shares. I don’t agree with those tax rises, capital gains at 45% for the top band is ridiculous IMO. I think they will end up bringing in significantly less revenue too. I’ll seriously consider leaving the country before paying that rate. I can move and live in American permanently if I wish to. European pontificate why America is so richer than Europeans, the answers are sort of obvious.

Anyone UK investors got any views on what will almost certainly be significant tax rises under Labour? Seems to be massive capital gains increases incoming.

Lol, not a biggie until it is a biggie. It's a ludicrous thing to do.

If your at 306 million, why oh why wouldn’t you put even 30 million aside and say this never gets traded? Greed killed his account and it seems he may not have been intelligent enough to override that greed and do the smart thing.

Only insofar as I recall it being one of the better run oil companies from my days investing in that sector. Large footprint in Permian I believe.

Quite a few surprises on this list:

In ten years time, I see prices of the oil sector relatively the same with swings higher and lower. Not an industry I’m interesting in owning, only ever renting at bottoms and playing mean reversion. I gotten bitten once here before I made a killing, but I learned my lesson. If you had decent management just sloshing cash back to shareholders it would of course do much better than the average oil company. Shame there aren’t that many of those.

Yes it’s cyclic but finding the bottom in these cycles can take years too. Hoping for breakouts to new highs for many of these companies is a big mistake. There was some dangerous talk in this thread an about 2 years ago that this was a slam dunk from here - it seemed obvious to me the easy money had been made. You can buy good companies for sure, but there are many more which are terrible and are ran in the interest of the board or founders. The sector is something you rent but never own in my opinion - not anymore at least. Exxon Mobil would have been a great hold decades ago, think there are so many better options now.

Lol, always the way. Glad I got out of this POS sector two years ago. It would take a covid like crash to make me touch it again. Look at Oxy, even Buffett can’t get this space right. Not only are you looking at the long-term secular decline in oil use but many companies are not run in the interest of the shareholders. And the oil investors are addicted to gloom and doom and wishing for world war three or some shit to pump oil up so they can make bank. Or they blame politicians for keeping oil low - no shit they want low oil price. It’s a wild sector. One I do not miss. But dam I made a lot of money in it.

Love the interview but still not gonna buy China - even though he is probably correct.

Many companies, not just the big tech ones, will only allow themselves to repair a device and provide unique set of cables for their devices. I disliked the lightning cable ban... I mean really, we can't have different ways to charge and move data onto our phone? Imagine if the EU made this law years ago with USB cables, there would be no innovation to USB-c cables without regulation first. No.

Is there a space for a general discussion thread that isn’t trying to predict tops or talk about war, but also isn’t worthy of a thread in its own right? If you think it’s already too crowded I’ll delete the thread. I was thinking that I’m surprised that the bank stocks like BAC aren’t ripping higher off the back of a 0.5% cut. I’m also thinking that Powell has to be one of the best Fed chairs.

On no planet is Thierry Breton funny.

Maybe the last few years, but the past decade or more it has been comparable if not higher in the EU.

There has seemingly been a lot of buyers of bitcoins, between those who offer etfs, and even govenments. So why isn't price ripping?

"Hawk Tuah"

ChatGPT said that Northern Europeans have higher testosterone levels than American men, and provided citations.

It’s so annoying!!!

As of last quarter, about a third of it is interest income.

The guy centre ground was bragging about it. Regulating a nearly non-existent industry in Europe. And the regulation will probably help ensure all the AI innovation doesn’t happen in Europe. Larry Ellison (think I have that right) said yesterday that AI servers is going to be dominated by about 7 or so companies. To enter the game you need a founding investment of $100 billion. There are a range of American companies willing and able to put those kind of sums up, not sure there is a single EU one. “no EU company with a market capitalisation of more than euro 100 billion has been created from scratch in the last 50 years, while all six US companies with a valuation of more than euro 1 trillion have been created in the same period.” Written by Mario Draghi found here: (https://commission.europa.eu/document/download/97e481fd-2dc3-412d-be4c-f152a8232961_en) No doubt there are opportunities but that fact alone is insane.

Totally. The thread title should be changed to ‘Why is Europe uninvestable?” Good to see Draghi speaking some common sense.

I like ABNB too, but think the earnings last year flatter the company and makes it look cheaper than it actually is.

Others might not, but I like Aswath’s analysis.

Gotta lol: