top of page

2021

JANUARY
Understanding the nature of the market, as always.
“Eventually” finally arrives; when Main Street facts matter more than media headlines.
No excuses at Intel . . . or anywhere else.
“Near-certainties” worth betting on.
Microsoft:  elephants can dance . . . with partners, sometimes.
The Big Picture, Unchanged.  (Thank Goodness.)
“Worst Day Since October!”  Some Nightmares Fade Fast.
February
The Golden Rule of Fear
Gold Facts Float By.
When we can actually watch “low prices curing low prices.”
Impressions Are Deadly
The Big Picture is Main Street’s Miracle . . . Still in the Early Innings.
“This feels like a bubble!  Why aren’t we selling?”
Understanding the market:  John Deere . . . and Tesla.
March
Freeport’s Mr. Adkerson on the greener grass over there.
Exxon teaches us a lesson about “ridiculous beliefs.”
Lockheed:  Delivering on a “Tall Order.”
Micron.  “When that man showed up, everything started moving!”
Staying worried . . . and staying invested.
Freeport and what’s “in the market’s mind.”
The Big Picture . . . beyond the horizon, a bit.
“We changed our minds.”  Low prices cure low prices . . . again.
April
Strange times indeed . . . but not enough to derail Main Street for a while.
The miracles which matter do not make the headlines.
“Copper Is the New Oil!  Global Shortage!  Up 70% by 2025!”
The cycle:  “You ain’t seen nothing yet!”
The trees, woodpecker damage analysis . . . and the forest.
“Things will never be the same again?”
May
Seas of red and green.
A world of trouble, as usual.  The whole picture, also as usual.
Inflation’s fleeting nightmare.  It will return, one day.
Bitcoin or Rail Cars?  We Know the Answer, as Usual.
“China Warns:  “Zero Tolerance!” for Commodity Price Hikes”
June
The Big Questions . . . and the Answers.
Fearful Problems:  the Inflation Rate . . . and Caterpillar.
Freeport and Exxon:  headlines and impressions . . . or facts and judgment.

2020

march
Silly headlines, silly market behavior . . . serious Main Street, as usual.
A dull chart versus an excited market.
What the market thinks it knows . . . but never does.
Understanding the Spectacle.
The economic problem:  the Virus itself . . . or the “abundance of caution.”
It’s All About 2 Simple Words:  “Panic” and “Temporary.”
Not different.  Not worse.
When grim news is also positive.
The actual Virus facts will be known . . . eventually.
Always the same word, eventually:  “Depression!”
When “nearly certain” becomes “absolutely certain.”
Turnaround?  Not yet.  But perhaps we’ve seen enough to be going on with, for now.
“Facts are stubborn things” and the turnaround, eventually.
3 Big Questions.  “Dim Outlines” of the Answers.
“Blood on the street” in oil means what it always does.
april
“Oil Surges 25%!” tells us nothing about tomorrow . . . but a great deal about a principle.
“Crisis” always does mean “Opportunity” . . . because of the best in people.
The fuzzy meanings of “Surging Markets!” and “Surging Money Market Funds!”
When the fashion is terror, people say odd things:  Freeport-McMoRan.
Oil:  pain for all; but pleasure too, for a few.
When bad news is also good news.
Even with a giant grain of salt, a useful message from China.
The “deep” meaning of 700 points:  “It’s not the end of the world.”
“Oil Below Zero!” The oil kings begin to follow Micron’s footsteps, from 2012.
The Big Picture
A message from Freeport: “Wade through the blood, step over the bodies . . . and buy.”
“Not the slightest idea” about 2020 . . . but Cummins does know its future.

2019

2018

2017

2016

Newer
bottom of page