Month: June 2020

Legendary fund manager Li Lu (who Charlie Munger backed) once said, ‘The biggest investment risk is not the volatility… …read more […]

(Bloomberg) — OPEC+ gathers on Saturday to ratify a deal for at least an extra month of record production cuts that U.S. President Donald Trump said saved the American oil industry.After a week of cajoling by Saudi Arabia and Russia, the cartel’s members were ready to prolong almost 10 million barrels a day of output curbs to the end of July, instead of easing them as previously planned.The imminent extension, coupled with a surprisingly good U.S. jobs report, sent crude 5% higher to $42 a barrel on Friday afternoon in London, more than double the price in April.That’s eased pressure …read more […]

OPEC and its allies led by Russia meet on Saturday over plans to extend record oil production cuts and to push countries such as Iraq and Nigeria to comply better with existing curbs. Nigeria’s oil minister said he expected a deal on an extension, which has the backing of Saudi Arabia and Russia, to be concluded in the video conference talks despite “reservations of one or two member countries,” which he did not name. The alliance known as OPEC+ previously agreed to cut supply by a record 9.7 million barrels per day (bpd) during May-June to prop up …read more […]

Investors who take an interest in Senior plc (LON:SNR) should definitely note that the Independent Chairman, Ian King… …read more […]

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A Chevron Corp crude oil cargo has become embroiled in U.S. sanctions on shipping companies for violating restrictions on doing business with Venezuela, the company confirmed on Friday. Adamant Maritime Ltd, owner of very large crude-oil carrier (VLCC) Seahero was sanctioned by the U.S. Department of Treasury on Tuesday for carrying a Venezuelan cargo in February. The tanker is on short-term charter and “performing a voyage that is not related to Venezuela,” Chevron spokesman Ray Fohr said. …read more […]

Private equity firm Sycamore Partners is in preliminary talks to acquire J.C. Penney Co Inc out of bankruptcy should the U.S. department store chain’s negotiations with its creditors fail, three people familiar with the matter said on Friday. J.C. Penney, which employs roughly 85,000 people, filed for bankruptcy protection in May after the coronavirus pandemic forced it to temporarily close its more than 800 stores across the United States, compounding financial woes that stemmed from years of dwindling sales. Sycamore is weighing acquiring J.C. Penney outright or making an investment in the troubled retailer, the sources said. …read more […]

Chipmaker Micron (MU) is banking on the upcoming 5G trend. As 5G networks ramp up around the globe, the semi-conductor player is expected to provide many of the components needed to achieve 5G’s promise; faster data processing, lower latency and expanded storage capacity.However, the catalyst hasn’t borne fruit yet. Micron has lagged behind its peer group this year, unable to fully recover from the COVID slump. Micron’s share price is still roughly flat year-to-date compared to the SOXX’s 9% uptick. But a recent pre-earnings announcement that sales for the quarter (FQ3) were stronger than expected along with the company anticipating …read more […]

In The War Room, the big banks are paying us!
Since the lows in March, I’ve been pounding the table telling War Room members to buy the big banks.
And now, members who listened are cashing in.
Here’s a sampling of what I have written – please pay attention to the date:

And more pointedly:

Here are the prices on May 13 and 14 compared with the highs of today:

War Room members have been cleaning up on the banking sector with gains in the triple digits on “Overnight Trades.”
Just take a look at what two were reporting…
“Thank you Karim WFC (Wells Fargo) in at 1.95 …read more […]