Markets Open with a Positive Tone this Week,
with more happy talk over trade negotiations. Oil is up 1%, as are US stocks and the Chinese yen. Expect a dead market until we get an outcome.
Thomas Cook Collapses,
stranding 150,000 British travelers overseas. In the longer term, it could also hit the economies of its biggest destinations, such as Spain and Turkey, leave fuel suppliers out of pocket, and force the closure of its hundreds of travel agents across British high streets. You know, after 50 years of traveling around the world, I never used them.
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WeWork IPO is on the Rocks,
with the CEO soon to be fired for self-dealing. In any case, the company has minimal added value and will not survive the next recession when the bulk of its tenants walk. Don’t touch this one on pain of death, even down three quarters from its original valuation.
Watch Out for October,
says Goldman Sachs (GS), which sees volatility spike 25%. Shockingly poor Q3 corporate earnings results could be the trigger, with almost every company negatively impacted by the trade war. This could set up our next entry point on the long side.
Some 30% of New Power Installation in 2018 was Solar.
The collapse of solar pricing and soaring panel efficiencies have shortened home solar to a four-year breakeven. It also helps to have your local power utility go bankrupt.