Energy

Here we focus on stocks and trends in the Energy sector. Topics include oil & gas, coal, uranium and alternatives.

Real Vision Apr 16, 2021
The Exponential Age: Crypto's Fast and Furious Rise
Raoul Pal returns in his role as the founder of Global Macro Investor to update Real Vision members on the exponentially large role crypto is playing within his macro framework. Raoul argues that crypto is a "black hole" that is sucking in all of the world's talent and value at a speed that no one can comprehend and that its capacity to generate phenomenal returns for investors is not temporary but rather part of a durable long-term trend that is at the vanguard of what he calls "The Exponential Age." Raoul contends that since central banks have suppressed the volatility of currencies and interest rates, large "macro" on heavy swings in these variables no longer offer the opportunity they once did and that it is in the world of crypto where these outsized returns can be found. Filmed on April 10, 2021. Key learnings: Raoul sees the migration of value to the digital world as an exponential trend that offers opportunities for investment return that are no longer possible in traditional capital markets
INK Videos Apr 14, 2021
INK Ultra Money Free: Insiders buy the Obsidian pullback
Contrarian Alert! Contrarian candidates are getting harder to find after the year-long oil patch rally. INK Research looks at Obsidian Energy (OBE) which may be a name for contrarians to consider. Get the insider news first. Join us as an INKResearch.com subscriber or CanadianInsider.com club member.
Real Vision Apr 14, 2021
Inflation Fake Outs, Oil Update, and Entrenched Interests as a Play on Fiscal
Warren Pies, founder of 3Fourteen Research, returns to Real Vision to discuss why he thinks inflation fears are perhaps pre-mature but that fiscal stimulus and the corresponding household net worth will play out in consumer spending and inflation around two quarters out. Even if we get inflation, Pies argues that inflation will have to be a lot higher for longer before it affects Fed policy. The mixed signals being sent from crude oil also factor in as a red flag for inflation because rising crude oil prices are a leading indicator of inflation. Warren is still positive on the reopening but believes many of the reopening stocks have repriced accordingly. He likes "entrenched interests" that already have deep ties to Washington D.C. to play increased fiscal. Filmed on April 12, 2021. Key Learnings: Outlooks for higher inflation and crude oil prices are potentially pre-mature. The reopening is going strong but reopening assets have repriced accordingly. Entrenched interests with deep histories of doing business with the federal government are Warren’s play on increased fiscal spending.
Real Vision Apr 13, 2021
Dan Suzuki: A Regime Shift in the Investment Cycle
Dan Suzuki, Deputy CIO at Richard Bernstein Advisors LLC, joins Real Vision managing editor Ed Harrison for a deep dive re-evaluation of portfolio asset allocations as the global economy is poised to recover from the COVID-19 pandemic economic shutdown. Suzuki suggests that what worked in the last decade – growth over value, U.S. exposure over international, large cap stocks over small cap, and investing in tech dominated companies – may not work in the coming cycle, and such allocations need to be rotated. Filmed April 7, 2021. Key Learnings: Coming out of the economic shutdowns, the market is starting to price in a much faster tightening cycle than the Fed is considering, spurring the need to re-analyze portfolio allocations. A suggested portfolio rotation includes more international exposure over U.S., small cap over large cap and mega cap companies, and a smaller allocation to technology and high-growth sectors.
INK Videos Apr 12, 2021
Contrarian alert: Insiders buy the Obsidian pullback
For contrarian investors hunting for opportunity in the oil patch, candidates are getting harder to find after the year-long rally. Today, INK Research looks at Obsidian Energy (OBE) which may be a name for contrarians to consider.
Real Vision Apr 12, 2021
Jens Nordvig: The Death of Fixed Income
Danish-born economist Jens Nordvig, founder of Exante Data, a data and analytics firm for institutional investors that specializes in foreign exchange markets and macroeconomic policy, joins Real Vision co-founder and CEO Raoul Pal for a deep-dive conversation on the global economic outlook; the impact of the vaccine rollout on the U.S., Europe and emerging markets; and the likelihood of multi-year fiscal stimulus. Nordvig sees monetary policy frameworks evolving in ways that are unfriendly toward bonds, like Average Inflation Targeting (AIT), causing a fundamental rethinking among investors for owning fixed income assets. Filmed April 7, 2020. Key Learnings: A multi-decade bull market in fixed income lasted longer than many expected due to negative interest rate policy, and the COVID shock made central banks across the globe max out monetary policy. Interest rates are currently unattractive to many kinds of investors, and the economic outlook is such that risk assets look attractive, including cryptocurrency. Follow @jnordvig @ExanteData. Visit Exante Data (https://www.exantedata.com/).
Real Vision Apr 12, 2021
Jens Nordvig: The Death of Fixed Income
Danish-born economist Jens Nordvig, founder of Exante Data, a data and analytics firm for institutional investors that specializes in foreign exchange markets and macroeconomic policy, joins Real Vision co-founder and CEO Raoul Pal for a deep-dive conversation on the global economic outlook; the impact of the vaccine rollout on the U.S., Europe and emerging markets; and the likelihood of multi-year fiscal stimulus. Nordvig sees monetary policy frameworks evolving in ways that are unfriendly toward bonds, like Average Inflation Targeting (AIT), causing a fundamental rethinking among investors for owning fixed income assets. Filmed April 7, 2020. Key Learnings: A multi-decade bull market in fixed income lasted longer than many expected due to negative interest rate policy, and the COVID shock made central banks across the globe max out monetary policy. Interest rates are currently unattractive to many kinds of investors, and the economic outlook is such that risk assets look attractive, including cryptocurrency. Follow @jnordvig @ExanteData. Visit Exante Data (https://www.exantedata.com/).
Real Vision Apr 08, 2021
Buyer Beware: Are Markets Set Up for a Pullback?
Peter Boockvar, CIO of Bleakley Advisory Group and editor of The Boock Report, joins Real Vision managing editor Ed Harrison to share his insights on the inflationary pressures and drawdown risks he’s observing. Boockvar discusses his take on why weekly jobless claims in the U.S. continue to be high while job openings are also at record highs, highlighting how enhanced unemployment benefits may be competing with wages and how this puts inflationary pressure on labor. He also analyzes Jamie Dimon’s statement of the economic boom running all the way into 2023 and points out that another leg up in rates, a potential tapering by the Fed, and the end of large-scale fiscal spending could all prove to upend that notion. Harrison and Boockvar also explore the potential influence that supply chain disruptions could have on earnings, a corporate tax grab under Biden, and the impact of high margin debt on markets.
Real Vision Apr 08, 2021
The Value vs. Growth Stalemate: SPACs, Rising Yields, and Long/Short in a Post-GME World
Tobias Carlisle, principal and founder of Acquirer's Fund, returns to Real Vision to share his analysis on the "growth vs. value" divergence that has been at the vanguard of 2021's equity price action. Carlisle breaks down what "value" means to him using the classic valuation metrics (price-to-book, price-to-sales, price-to-earnings, etc.) as well as more nuanced factors such as balance sheet strength and quality of earnings. Carlisle analyzes how rising yields impact the value spread and shares specific stocks that his portfolio is long or short on. Key learnings: Carlisle sees the recent surge in value as part of a larger narrowing of the "value spread" relative to growth. He notes that "junkier" value has outperformed quality value, and rather than turning his attention to energy stocks, airlines, and cruiseliners, Carlisle is focusing on quality "Tech 1.0" businesses. On the short-side, Carlisle sees lots of excess in SPACs and software-as-a-service companies that have yet to make a profit.
INK Videos Apr 06, 2021
INK Ultra Money Free: Oil patch bulls get a buying opportunity at MEG Energy
INK Research assesses how MEG Energy (MEG) might do as the Biden Administration kicks off its push to rebuild America. Is the oil patch set for another leg higher? Join us via INKResearch.com or CanadianInsider.com as we let the insiders point us to opportunity in the months ahead.
INK Videos Apr 05, 2021
Oil patch bulls get a buying opportunity at MEG Energy
Today, INK Research assesses how MEG Energy (MEG) might do as the Biden Administration kicks off its push to rebuild America.
Real Vision Apr 05, 2021
Gold, Active Management, and Macro Hedge Funds: The Alaska Permanent Fund's Unconventional Allocation
The Alaska Permanent Fund is the $75 billion sovereign wealth fund of the state of Alaska, and since oil was discovered in Alaska in the 1970s, the APF has been receiving royalties and investing that capital on behalf of Alaskan citizens. Every year, it pays out a dividend—a form of UBI—to the citizens, who also do not pay any state income tax. In this interview with Sean Fieler, president and CIO of Equinox Partners, Marcus Frampton, CIO of the APF, explains his own unconventional views on investing and how he is bucking the trend in the large institutional investor space. Together, they discuss why Frampton has allocated the APF in gold, active management, and macro hedge funds while resisting the urge to chase private equity like many of his peers. They also discuss Frampton's personal investing style and why he is so attracted to micro-cap stocks and OTC markets. Filmed on March 31, 2021. Key Learnings: Institutional investors, who are the major forces in global markets, are largely driven by the actuarial projections of consultants and, with a few exceptions like Marcus Frampton and the APF, tend to cluster into similar portfolios and assets.