Chevron and Exxon post record quarterly profits as commodity prices boom

A floorhand operates a Chevron oil drilling rig near Taft California

Exxon and Chevron posted record profits during the second quarter of 2022 as high commodity prices boost operations, and as the oil giants keep their spending in check. Chevron reported earnings of $11.62 billion during the three-month period, up from $3.08 billion during the second quarter of 2021. Exxon, meantime, posted earnings of $17.9 billion during the second … Read more

Cruel to Be Kind

Insanity - Albert Einstein didn't really say that - look it up

Let us begin with this post from an individual over in the land of wallstreetbets who is bemoaning the fact his $340,000 trading account has been beaten down to $88,000 (a 75% drop) due to picking up such gems as TSLA and ROKU. As you will see, he wants to know how other fellow “traders” deal with such … Read more

BRICS Basket to Blow the Roof Off Silver Market

How to invest in silver

In this week’s Live from the Vault, Andrew Maguire takes a closer look at the newly determined BRICS currency basket, assessing the likely price revaluation of its top three commodities: gold, silver, and oil.  With the current geopolitical escalation impacting the physical gold market, the precious metal expert explains the possible repercussions of China’s de-dollarisation … Read more

The 1970s Bear Market Analog Looks Intact

Nasdaq bear market

That ’70s Show In the wake of Friday’s soaring CPI print and Bank of America strategist Michael Hartnett’s latest note (“A Dire Outlook From Wall Street’s Biggest Bear”), it’s worth revisiting the ’70s bear market analogue he sketched out last month, and how that has panned out so far.  As ZeroHedge summarized it at the time, [For] Hartnett, the … Read more

Rabo: Sorry, Boy And Girl Geniuses, But How Does Inflation Go Down If Commodity Prices Keep Going Up

US Dollar dominates as inflation heats up scaled

Fed 50 vs. Fedoggy#4292 The Fed went 50bp. I will come back to this in a moment, but I need to set the scene properly. Back in 2020, I was expounding that “-isms” were soon going to be back in vogue. Our conflating structural problems –caused by global neoliberalism– were going to see clashes over what … Read more

In Investing, as in War, One Must Adapt or Die

War maxim that applies to investing

As a long-time martial arts practitioner that trained with many active-duty military personnel, including Army Rangers, I learned of a saying that one must learn to be disciplined, yet flexible enough to adapt to changing situations in order to overcome unforeseen obstacles in your path. For some reason, many people today equate discipline with rigidity … Read more