Hello
I start this week’s top ten with an in-depth interview with Jim Thorne. He was on Catherine Murray’s show, and it is very helpful to all investors.
I remember an energy CEO telling me years ago of the implications of US Shale Oil production peaking. G&R talks about it all the time, and attached are some interesting nuggets from the Sailing Stone Capital Q1 commentary. The following goes to supporting “any attempt to meaningfully grow US shale production will be extraordinarily challenged as industry claims of the quality and quantity of remaining inventory appear to be massively overstated.” An interesting tweet about it is also included.
A few weeks ago, I shared a great podcast about the cognitive dissonance with respect to how much mining is needed for this energy transition. The New York Times had an in-depth piece for those that are interested.
My friend, Stewart Muir, shared an article trying to encourage some helpful conversations between business and government in BC. The new carbon costs have many far-reaching consequences and Stewart has a way of explaining it in a way that everyone can understand.
There are many professions in Canada where foreigners do not get credit for education and experience in their home country. It was good to see this story from Ontario with respect to engineers, and maybe a trend has started.
A great New York Times piece on the Colorado River as an agreement was made. A wonderful video is included as well.
Pippa Malgrem responds to a negative outlook piece by Stanley Druckenmiller. As you will read, there is a big new trend happening and she ends her piece saying “Fashion, as ever, is telling us a good deal about the future. Grey is the new cool.”
The National’s Ian Hanomansing spoke to Michael Katchen and it is amazing what can happen out of a basement.
The A.I. revolution continues and when British Telecom says that some 10,000 jobs will be replaced by this technology, you must wonder what will happen. Mike Rowe was interviewed and has some ideas for young people out there.
Finally, Jack Mintz provides a great commentary on why we cannot erase our history. At the same time, I see more cities are cancelling Canada Day festivities.
Have a great weekend!
David
Number 1 - Thorne long interview recorded this week: Watching We Need To Learn From The Past | The Buck Stops Here
I was interviewed by Catherine Murray for her show.
Number 3 - The U.S. Needs Minerals for Electric Cars. Everyone Else Wants Them Too.
The United States is entering an array of agreements to secure the critical minerals necessary for the energy transition, but it’s not clear which of the arrangements can succeed.
https://www.nytimes.com/2023/05/21/business/economy/minerals-electric-cars-batteries.html
Number 4 - Stewart Muir: The high price of being a Green Canadian
At the heart of British Columbia’s economic saga unfolds a narrative, the tale of the province’s bold attempt to impose an “output-based pricing system” (OBPS) on greenhouse gasses. Doing business in B.C. means shelling out more to deal with carbon costs.
https://biv.com/article/2023/05/stewart-muir-high-price-being-green-canadian
Number 6 - Western States Reach Agreement on Colorado River Cuts - WSJ
Awesome video. Nothing partisan about smart policies that address reality.
https://www.wsj.com/articles/western-states-reach-agreement-on-colorado-river-cuts-fc178c5c
Number 7 - Why Druckenmiller and the Pessimists are Wrong: Elderly Revenge
Stanley Druckenmiller is an icon in the investment world. His track record is unassailable. He is brilliant and has the track record to prove it. He is a billionaire. He is a pessimist. I am not either a billionaire or a pessimist. I think he is wrong about his prediction that the US and the world economy is heading towards a disastrous hard landing involving a massive and perhaps irrecoverable recession.
Number 8 - Wealthsimple’s ‘scrappy’ start in a bachelor apartment
https://www.youtube.com/watch?v=f3_r5DN-3v0
CEO Michael Katchen has taken Wealthsimple from a start-up in his bachelor apartment to managing more than $20 billion in assets over the span of a decade. The National’s Ian Hanomansing spoke to Katchen about that modest start and the entrepreneurship potential in Canada.
Number 9 - Mike Rowe says workers should see AI changes as an opportunity to ‘pivot’ to a new adventure
(this guy is good)
Number 10 - Jack Mintz: Erase our history, erase ourselves
Changes to Canadian passport the latest example of iconoclasm
Removing religious and historical symbols from Canada’s passport and crown is not quite in the same league as defacing statues, but it is still literally iconoclastic, in the sense of the Greek eikonoklastēs, meaning “image destroyer.” We typically think of iconoclasm as criticism of or opposition to widely held beliefs and practices, but decisions to erase historical symbols are just as politically driven. In 2023 it’s the Liberals who are erasing our history. But what goes around often comes around. It may not be too many years before someone else banishes the Liberals’ symbols in condemnation for what future Canadians regard as their personal and policy sins. If we erase all history, we lose connection to ourselves.
https://financialpost.com/opinion/jack-mintz-erase-our-history-erase-ourselves
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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