Sunday Dow Theory, Green, and Browne

By Paul Sankey Published on January 21, 2024 at 4:55 PM

Good day, There it is: Market at a record high. Congratulations to the wealthy of the USA. The top 10% of wealthiest Americans own 89% of stocks ($28 trillion). Americans in the 50th to 90th percentile of wealth own 11% of stocks ($3.4 trillion). Americans in the bottom 50% own <1% of stocks ($19 billion). As we say, the rich get richer and the poor migrate. Today we take a graphic-heavy run through some charts, …

Sunday Shia, Islam, Yemen: Who is a Houthi?

By Paul Sankey Published on January 14, 2024 at 6:00 PM

Greetings, We sent you a California write-down theme note yesterday “Exxon, Chevron, and Brangelina”, concluding that you want to own oil and gas companies exposed to California because of the State’s self-imposed tightening of its own energy balances. Essentially California is becoming steadily more import dependent, particularly for natural gas, which dominates its power supply. Key names are, CRC, Tourmaline, Matador, midstream Kinder and Plains All America, and of course Chevron and ExxonMobil, the last …