Hello
We start this week’s top ten with a commentary from Jim Thorne on blockchain. He thinks the FTX scandal and other issues will not stop from it from transforming business practices.
David Rosenberg shares Jim’s thoughts that the odds of interest rates hikes have titled.
The ESG team at NBF looks at the Green Energy Transition in Norway and how it compares to Canada. The link to the entire report is included and it is a good piece.
Steve Saretsky says there is nowhere to hide with rising rental and housing costs if the country keeps these immigration targets.
A brilliant one-hour interview with Elon Musk touches on Tesla, work from home, AI, and other targets. He finishes off with some career advice for young people…find something interesting, fulfilling and that contributes to society.
The news at British Telecom giant BT shows the transformation going on in the legacy media business. That is a lot of people getting laid off.
Another sad situation has developed over the last 2 weeks with the public becoming aware of another potential Ponzi-scheme. The CBC produced a big story on it, and it frustrates all of us in the business for a couple reasons. One, there is a lack of resources to monitor investment groups like this that do private deals using a simple website. The other, is how investors do not do some basic due diligence and background checks.
My good friend shared this to remind people of simple warning signals.
https://www.linkedin.com/search/results/content/?fromMember=%5B%22ACoAAAWhgWABcFCFeVhZ0NjqRVd3T2TE6CS9oTY%22%5D&heroEntityKey=urn%3Ali%3Afsd_profile%3AACoAAAWhgWABcFCFeVhZ0NjqRVd3T2TE6CS9oTY&keywords=edward%20gudewill&position=0&searchId=fea0d447-78c3-486c-b9bd-b893a1f7d972&sid=DSB&update=urn%3Ali%3Afs_updateV2%3A(urn%3Ali%3Aactivity%3A7062810867767136256%2CBLENDED_SEARCH_FEED%2CEMPTY%2CDEFAULT%2Cfalse)
Peter Scheck and I hosted a luncheon this week and William Chin of Caldwell Investments was our guest speaker. I included some highlights from his presentation, and I thought this was interesting./
William mentioned about some findings by a group of economists when looking back at inflation spurts. When inflation goes from 2 to 4%, it takes about 2 –3 years for it to get back to 2%. When It goes from 2 to 6% then it takes about 4 – 6 years to get back to 2%. When rates go to 8% (as it did), it takes 7 to 15 years.
Victoria Airport has a lot of WestJet flights and it, and many travelers may be impacted severely starting Friday. Brian Lilley weighs in on what the demands of the pilots and we will see what happens.
We have no Canadian teams in the NHL playoffs anymore and Bruce Dowbiggin gives his honest opinion on issues for the Oilers and the Leafs. PS. there are no $10 million players in final four.
Have a great long weekend.
David
Number 3 - Should Canada Adopt the Norway Model for the Green Energy Transition?
The latest report from our ESG analyst can be found here. Canada, like Norway, is a major oil and natural gas producer and, like Norway, Canada is also taking major efforts to transition its economy towards a greener future. Unlike Canada, however, Norway has managed to achieve a broad consensus within its political class and, more broadly, among its citizenry, for a model that aims to increase the production of certain fossil fuels in order to finance the transition towards cleaner energy. I would just note that IMO given Norway is a fraction of the size of Canada from a landmass perspective, there are notable differences in terms of the broader range of considerations when comparing the two countries (various economies across the different provinces, diversity of political & economic views/goals). Canada feeling/looking more like the EU perhaps in some respects vs. a single country like Norway.
Number 5 - Musk See Interview - I Created AI
https://www.youtube.com/watch?v=PYGdm845lc8
Elon Musk in-depth interview and how the future of tesla will evolve and grow.
Number 6 - British telecom giant BT to cut up to 55,000 jobs by 2030
https://www.cnbc.com/2023/05/18/british-telecom-giant-bt-to-cut-up-to-55000-jobs-by-2030.html
Interesting headline…43% reduction in work force. Information, entertainment and sport telecasts are changing. Legacy media has issues.
Number 8 - Global Reset – William Chin-Economist with Caldwell Investments
This week, Peter Schenk and I hosted a luncheon with William Chin of Caldwell Investments. William provided the attendees with an in-depth analysis of what is happening China and some opportunities and risks that may arise.
(Highlights and link to slide deck below)
https://drive.google.com/file/d/1XCxUR2upIM9IfBD0ua-IpzpWnNk6k73K/view
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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