Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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The Baltic Exchange’s main sea freight index continued to hold steady above the 1,725 mark in July mainly driven by rising demand for iron-ore from China as economic activity resumed after coronavirus-induced lockdowns. Still, the index remains below the nine-month peak of 1,956 touched on July 6th, as an increase in new Covid-19 cases worldwide threatens to disrupt global supply chains once again. .
https://tradingeconomics.com/commodity/baltic
the gnome
https://tradingeconomics.com/commodity/baltic
Investors are always looking for practical economic indicators they can use to help them make informed investing decisions. Peter Lynch, the famous manager of the Fidelity Magellan Fund, talked about looking for practical indicators in the world around you—like looking at what products your friends are buying or what stores always seem to be crowded. The Baltic Dry Index (BDI) is a practical economic indicator on a global scale.
The Baltic Dry Index (BDI) is a measure of what it costs to ship raw materials—like iron ore, steel, cement, coal and so on—around the world. The Baltic Dry Index is compiled daily by The Baltic Exchange. To compile the index, members of the Baltic Exchange call dry bulk shippers around the world to see what their prices are for 22 different shipping routes around the globe. Once they have obtained these numbers, they compile them and find an average. To ensure they are getting a comprehensive view of the entire shipping industry when looking at various shipping costs, the Baltic Exchange looks at costs for each of the following four sizes of ships:
– Capemax (10 percent of the global fleet): ships that can carry 100,000+ dead weight tons of cargo and are too big to pass through the Panama Canal
– Panamax (19 percent of the global fleet): ships that can carry 60,000-80,000 dead weight tons of cargo and can barely fit through the Panama Canal
– Handymax, or Supramax (37 percent of the global fleet): ships that can carry 45,000-59,000 dead weight tons of cargo
– Handysize (34 percent of the global fleet): ships that can carry 15,000-35,000 dead weight tons of cargo
Continuing on about SP's and broadening somewhat
The world’s most influential PMI, the Institute for Supply Management’s Report on Business (ISM), points to contraction at 47.2, freight volumes are down, year on year, every month for the past two years, and even the most lagging of economic indicators like jobless claims are in a bearish trend moving into the new decade.
As the U.S economy continues to falter, a decline in global economic activity continues to emerge: Germany has narrowly avoided recession after posting -0.2% and 0.1% GDP growth in respective quarters. The Chinese economy has hiccups as financial institutions continue to be bailed out and taken over by authorities, and the U.K narrowly avoided recession despite delaying a “no-deal” Brexit. Whats happening? simply, share prices and stock markets are no longer a barometer for economic fundamentals.
According to a recent FactSet report, the EPS growth of S&P500 companies in 2020 is set to decline by 1.4%. The biggest weighting of the index, Apple, has achieved no increase in earnings growth for over a year. But despite that, its stock price continues to climb higher! Price-earnings (PE) ratios also tell a similar story. The mind-boggling valuations of companies like Square and AMD that sport PE ratios of at least 200 times, remain in high demand and the market still deems them to be cheap. The truth is the stock market is no longer a barometer for the value of companies, instead, its a barometer for liquidity within the financial system, and, right now, there’s an excess supply.To counter the poor global economic data, Federal Reserve Chair, Jerome Powell, announced recently that the Fed will continue to prop up markets in 2020 by injecting billions of dollars, daily, into the financial system. And although he insists it’s not QE (quantitative easing), in reality, it’s a repeat of the same process: the rapid re-expansion of the Federal Reserve’s balance sheet.
The liquidity “Not QE”enables public companies to inflate their earnings, inflating their stock price. By buying their own stock in the open market , this once illegal practice has contributed to some of the biggest stock market bubbles in recent history. It allows any company on the verge of negative earnings to borrow money and buy a part of their company, masking the damage of any short term economic downturn. Then theres politics, and we have a rea estaer as President .. an attraction to ultra-low interest rates such as Trump.. Every time the stock market falls to an unsatisfactory level, the President protests, and the Federal Reserve lowers rates. So the greatest economy ever? is but a euphemism for the highest stock market ever, others would call it a bubble...an economy based on maintaining liquidity to prop up asset prices instead of trying to create real, organic growth. It’s been the status quo for so long that we accept ... good luck all...Reversion to the mean...
the gnome
It is estimated that over the next 20 years, the Baby Boomer generation will transfer approximately
$3.5 trillion in wealth to their children. This will see the biggest intergenerational wealth transfer in
Australia’s history and many of the younger generation will be the main beneficiaries. It has been dubbed
‘the economic tsunami’.
In a study conducted over 20 years by The
Williams Group in the US, 70% of families failed
to successfully transfer their assets from one
generation to the next. The top three reasons
being: lack of family communication, beneficiaries
being inadequately prepared to manage the
inherited wealth, and the absence of a planned
purpose for the family’s wealth. As such, the
common factor highlighted in almost all of the
successful wealth transfers was communication.
Some of the transfer is happening now, and what is happening is that some of the young recipients, put the money into the market, with a flitter and a flutter...sometimes not that wisely, mostly without thoroughly understanding investment in equities and what really happens in the market.
So what seems to be happening now in Oz market, is that the professionals are going to cash, whilst the newbies are coming into equities ...
best
the gnome
Yes interesting SP reaction.
In Oz we see some v unusual action when the Mums, Dads and "locked-ins" engage on a stock. I can see this in some of the reports I get on trading. I don't have access to this info on CEY trading.
regards
the gnome
Goldgnome like you I struggle to understand how the SP isn't motoring upwards the figures are excellent what more is expected I don't know?
Good grief. These figures are excellent! What an unbelievable myopic market. Have a look at the figure for the FED. Many of the Industrials....As Dylan used to sing, its going to be a HARD rain, and CEY is not going to have a large rain falling on it...
What a dismal market
knows not a lot, time horizon myopic...
best
the Gnome
Dropped Centamin to Hold.
Along with profit taking,was sufficient to lower the price today.
Mm's love an opportunity whether justified or not.
Its happened before and is bound to happen again.
That's life as Ester used to say.