Archives

Please click on a button below to jump straight to that category.
December 10, 2018

Taking Advantage Of The Energy Washout…


One of the great ironies during the decade of ZIRP/NIRP and QE, is that while it created plenty of asset price inflation, it created minimal consumer price inflation. I suspect this is because free money brought forward all sorts of unprofitable new supply, creating oversupply in most industries and crushing end-market pricing. Look at shipping for instance, excluding some brief spikes, you’ve had all ... Read More
Categories: Investments
Positions Mentioned: TDW, ESV, NE, AR, GPOR, RRC, SD
October 3, 2018

It’s Tidewater Time!!


Back in January, I wrote about Tidewater (TDW – USA) which will be the largest global player in offshore service vessels (OSVs) once it completes its merger with Gulfmark Offshore (GLF – USA). At the time, the offshore oil sector was despised by equity investors who assumed that it would never come back. As I noted in an update in July, shale isn’t the ... Read More
Categories: Investments
Positions Mentioned: TDW ESV NE
July 9, 2018

PSO = Peak Shale Optimism


Ever since oil prices collapsed in 2014, there has been an underlying belief that oil prices could not go up due to endless oversupply from shale oil. Now, 4 years later, that supply growth is stalling. There are various reasons for this, but underlying everything else, is the fact that the basic economics of shale just aren’t that robust. This is partly due to ... Read More
Categories: Investments
Positions Mentioned: ESV, NE, TDW, TDW Warrants
Scroll Up