- The Rollup
- Rollup #88
Buffet continues to bet big on oil
Noteworthy insider trade 🚨
Berkshire Hathaway just bought another $588 million worth of Occidental Petroleum stock. For more on this story you can check out this article from Investopedia. OXY’s stock price is up 4.27% since the purchase.
Source: SEC Filing #1
Noteworthy quote ✒️
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Worth checking out 🔍
Private equity firms are currently holding on to a record $2.59 trillion of capital on the sidelines.
What will 2024 bring for the markets? This article demonstrates how useless historical comparisons can be.
Did interest rates just peak? Cullen Roche considers whether rates have already made their highs.
John Hussman just published his latest letter called “The secret life of Fed pivots.”
Free PDF version of “Poor Charlie’s Almanack,” the wit and wisdom of Charlie Munger.
Why we’re still at risk for another everything shortage.
Interview with Steven Dubb, executive of luxury home builder Beechwood Homes, to discuss housing supply & problems/solutions in the industry.
Noteworthy Chart 🧭
Look at this clear inverse correlation between the DAX and the price of Nat Gas
Best articles 📖
Life After the Big Melt-Up - This is a great article from Lykeion that summarizes the current positions held by major institutions like JPM, Goldman, MS & more. By position, I mean what these firms think will happen to markets in 2024. A bunch of great charts & graphs too.
How Netflix Built a $200B Business on Reality Shows and Docuseries - An explanation of how Netflix makes money with low-cost reality TV shows and other non-fiction series.
For instance, the average episode of a reality TV show costs just $100,000 - $500,000 to produce. For comparison, Disney’s show “She Hulk” was budgeted for $25 million per episode!
Lindy Effect in Investing - The Lindy Effect: if something has been around for a long time, it will probably continue to be around for a while longer. In this article, Market Sentiment questions the usefulness of applying the Lindy Effect to companies.
Noteworthy Tweet 🪶
This is incredible:
Just about every time the Fed started CUTTING rates dating back to 1950, the unemployment rate has spiked.
Historically speaking, the first cut comes 3 months BEFORE the unemployment rate begins to spike, according to Reventure.
On average, the unemployment… twitter.com/i/web/status/1…
— The Kobeissi Letter (@KobeissiLetter)
Dec 14, 2023
Best of YouTube 🎬
Market Risks + Opportunities | How to Make Money
It’s always a great conversation when the two Mikes get together to talk about the markets.
Six Rate Cuts in 2024 Unlikely
Joseph Wang explains why he doesn’t think the Fed will need to aggressively cut rates in 2024. Joseph also shares his opinion on whether inflation is coming down because of the Fed, or because supply chains are getting back to normal.
My favorite off topic video 🍿
World’s most expensive tire change? These gentlemen jam a 6×6 tire into the back of their Black Hawk and go for a ride. I was mildly surprised that a civilian can just buy a Black Hawk. America is a hell of a country 🇺🇸
Best AI image 🏆
Power is enforcing; morals are liberating