Sunday saw the newsagent deliver the Observer rather than the usual assembly of useful stuff. The Observer used to be referred to fifty years ago as written by central Europeans about central Africans. Their wish for change has been rewarded by massive disasters.
However, enough of that, what is interesting about the modern-day version is that there is nothing whatsoever in its pages on finance. Astonishing.
Gold saw me margined out this morning and although I cut it at $19.50 saw me lose a five-figure sum in the June West Texas Intermediate position. I supposed that oil tankers having rounded the Cape can be redirected to Rotterdam and other European ports. Clearly the WTI contract means that failure to sell or roll entails taking delivery. This rather reminds me of when London had a potato futures exchange. A punter failed to close and had to take delivery of 400 tonnes on his lawn. His wife’s comments are not recorded.
Other contemporaneous supply plays include an investment in Hillenbrand (NYSE:HI) and now $18. Believe it or not HI sells 45% of America’s coffins.
My informant here is a vegetarian and he also promotes Nissin Foods (TYO:2897), quoted on Tokyo.
Anyway, this afternoon Master Investor offers a live webinar. Readers should tune in by 2pm.