Hello
On Monday, Peter Schenk and I will be hosting our first LinkedIn interview. Stewart Muir will provide the highlights of the LNG Conference that was held in Vancouver this month. Many interesting things happening in Canada and abroad.
https://www.linkedin.com/events/7086776082070192129/comments/. Its is at Monday at 10.00 am and please join us.
The markets keep chugging higher and the energy sector has caught a bid again. With that in mind, I thought presentations from two bright minds of the sector would be helpful. Rafi Tahmazian and the people at Canoe came out with their summer update and Eric Nuttall is back gives his bullish thesis.
The Globe & Mail provided a review of the LNG conference in Vancouver.
There was a WSJ article talking about the lead cable issues with Telcos in the US. I thought I would share what NBF reported as it does not seem to be a big issue in Canada.
Darius Dale provides a big picture look at the markets on Macro Voices and Darius has been so good with his calls.
The Financial Post looks at how Canada’s standard of living has been dropping on the world stage. While Steve Saretsky gives a real estate and mortgage update. I am hearing more and more stories about how these higher rates are forcing so many people to think of selling.
The Ninepoint Energy group shared their recent presentation deck and the many worries of a recession.
California is going through major changes and who better than Peter Zeihan to explain. Peter is one of the best geopolitical people out there.
The brilliant people at Doomberg explain the many decisions (and mistakes) that Ontario did with respect to power generation. They then summarize the many announcements this past month with respect to nuclear energy and the people at Cameco are very happy.
Have a great weekend!
David and Amy
PS….Tony Bennett passed away today and I know many people enjoyed listening to this legend at the Imperial Room of the Royal York Hotel. He was a regular there for years.
Number 1 - Canoe Update
Key points – The Team believes:
- We are still in the early innings of a multi-year commodity cycle, but don’t expect a straight line up
- Headwinds are flipping to tailwinds – valuations will eventually re-rate higher
- In the meantime, investors are being rewarded with high and sustainable dividends
- Low net positioning presents an opportunity for investors
- Index challenges – Canoe Energy Funds are positioned differently than energy benchmarks
Number 4 - Telecom Services - Toxic Lead a Serious Topic in General But Not Necessarily a Material Issue for Canadian Telcos
NBF referenced The Wall Street Journal article from two weekends ago titled “America Is Wrapped in Miles of Toxic Lead Cables” which impacted the stock of AT&T (T: NYSE, Not Rated) through July 18 and that of Verizon (VZ: NYSE, Not Rated) through July 17, with some contagion for Canadian telcos as BCE and Telus began to see pressure. This issue doesn’t appear to touch the cable companies given their timing on the scene after the 1950s.
https://schneiderwealth.ca/wp-content/uploads/2023/07/NBF-Telcos-and-Toxic-Lead.pdf
Number 5 - Macro Voices-Darius Dale
Erik Townsend and Patrick Ceresna welcome Darius Dale to MacroVoices. Erik and Darius discuss:
- Credit cycle downturn
- Is this bear market going to roll over?
- What credit event to watch for?
- Likelihood of recession happening
- Inflation or disinflation?
- Outlook on China
Download the podcast transcript: [Click Here]
Number 8 – Ninepoint Deck - Recession Worries in the Oil Patch
Some topics discussed in this week’s episode:
The energy market in the face of a looming recession.
The effect the rising rate environment has had on oil prices.
Free cashflow, share buybacks, and a predicted influx of energy investors back into the market.
A commentary on IEA’s medium-term reports, stating that oil demand could potentially fall.
We hope you found the Top Ten interesting this week, and are looking forward to another selection of articles, stories, and commentary next week. If you know of anyone else who would be interested in receiving our weekly note, please let me know.
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