S&P Energy Sector Relative to S&P IT SectorWed 12:30
https://mobile.twitter.com/daChartLife/status/1526240789906477057
This reflects charts I've previously posted and shows there is a long way to go until O&G shares reach (and exceed) full value. Once the depleted tech and crypto money stops chasing bottoms in these and accepts their time is over for the time being, that money will move to chasing O&G shares as it did in the early noughties. This is the "Great Rotation" as Crescat Capital put it - out of growth stocks and into commodities and value stocks.
It also makes me wonder if the terrible recession the "experts" are predicting that will bring all shares down will really happen and whether we'll get a minor recession as we head in the early noughties, but where commodities shares didn't suffer that much. There is some rhyming going on with this point in economic history.
Separately before the GFC most "experts" weren't predicting a recession and most thought the good times would go on - that's the time to be fearful of a recession, not when your taxi driver mentions it as mine did last week.
Regarding inflation, charts I've seen of inflation in the 40s and 70s show 3 ever growing peaks interspersed with pretty low troughs. Now that the inflationary genie is out of the bottle I wouldn't be surprised if this decade rhymes with those. I also wouldn't be surprised if there is a mild downturn that central banks around the world start printing money and then inflation really gets going
This is just my opinion and is not an endorsement to buy or sell anything.