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Oil Extends Gains After Report Points to Easing U.S. Stockpiles

(Bloomberg) — Oil extended gains toward $42 a barrel in New York after an industry reported pointed to a bigger-than-expected decline in U.S. crude stockpiles, adding to bullish momentum after a vaccine breakthrough.The American Petroleum Institute reported crude inventories dropped by 5.15 million barrels last week, with gasoline and diesel stockpiles also decreasing, according to people familiar with the data. Official government figures are due Thursday. While early findings on a vaccine showed it protected most people from Covid-19, it’s likely to take some time to roll out if it proves effective.Oil has rallied more than 11% over the past …read more […]

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Plug Power Is Firing on All Cylinders; Analyst Doubles Price Target

With Joe Biden the President-elect, the commonly held view is that alternative energy stocks are in line for a boost. That said, some in the sector hardly need a helping hand, in particular Plug Power (PLUG). The hydrogen fuel cell maker has made the most from investors’ thirst for new energy stocks in 2020, in the process racking up a massive 533% of share gains throughout the year.Further adding to the bullish case, the company just released another excellent quarterly financial report.In Q3, revenue hit $106.99 million amounting to a 79.9% year-over-year increase and beating the estimates by $1.23 million. …read more […]

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Why Oil and Gas May Be a Bargain for Today’s Investors

Often, the greatest stock market wins come from bold contrarian calls…
And one of my favorite professional investors – Murray Stahl of Horizon Kinetics Asset Management – just made a really big contrarian call.
Stahl is pounding the table on the oil and gas sector.
He just called it “one of the few ‘once-in-a-lifetime’ investment opportunities that one can be fortunate enough to actually come across in a lifetime.”
Being bullish on oil and gas is not a mainstream view…
Far from it. Investors have been dumping shares of oil and gas companies for years.
Since the price of oil last peaked in June 2014, the …read more […]

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Verizon Sells $12 Billion of Bonds in Fifth Biggest Deal of 2020

(Bloomberg) — Verizon Communications Inc. sold $12 billion of bonds in the fifth largest transaction of the year as blue-chip companies rushed to squeeze in debt sales following optimistic news Monday regarding a potential Covid-19 vaccine.The telecommunications giant sold the debt in five parts, with proceeds earmarked for spectrum costs and repayment of outstanding obligations, according to a person with knowledge of the matter. The longest portion of the offering, a $2 billion 40-year security, yields 1.3 percentage points above Treasuries, after initial discussions of around 1.5 percentage points, said the person, who asked not to be identified as the …read more […]

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Lessons From Today’s Market Wizards

Ask the world’s best traders which book inspired them most…
And one stands head and shoulders above the rest.
That book is Jack Schwager’s Market Wizards: Interviews with Top Traders (1989).
Schwager’s book inspired a generation to try their hand at trading for a living.
(In second place, you’d have Reminiscences of a Stock Operator, which I have also written about).
I spent this past weekend reading Schwager’s sixth book, Unknown Market Wizards: The Best Traders You’ve Never Heard Of.
These traders are not Forbes 400 billionaires like original Market Wizards Paul Tudor Jones, Bruce Kovner and Stan Druckenmiller.
Instead, Schwager focused on top traders who work …read more […]