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Comments of the Day
16 February 2021
Big Picture Long-Term video February 12th 2021
A link to this week’s Big Picture Long-Term video is posted in the Subscriber’s Area.
Thanks to Bilal Khan for sending through his fund’s report focusing on Pakistan. Here is a section:
A link to the full report is posted in the Subcsriber’s Area.
Pakistan is a frontier market. That means it is heavily influenced by investor flows. Any market is priced by the actions of the margin buyer. When international investors are repatriating capital it weighs heavily on the fortunes of frontier markets but the opposite is also true. Prolonged periods of inflows can boost frontier markets to significant positions of outperformance.
Valuations can be attractive for prolonged periods but it is when the currency moves in the favour of international investors that activity really starts to pick up. At that point perceptions of whether governance is improving and whether that is sustainable will influence how durable a recovery is.
Email of the day on Chinese Banks and geopolitical risk
Always enjoy the service, Eoin and look forward to the daily updates. To better my understanding of reading charts, would you please walk me through the consistency pattern you see in the Commercial and Industrial Bank of China’s chart that make its purchase, “shooting ducks in a barrel”, as a very wise man would say. Thank you.
At The Chart Seminar we begin by trying to imagine ourselves as the judges at an international beauty contest. We are only interested in the most beautiful charts. Those that have either truly consistent trends or the potential to develop them. Now ask yourself what is beautiful above ICBC’s chart?
The share was listed in Hong Kong in 2006 and since then it has done nothing but range in a very volatile manner. That’s neither beautiful nor consistent, so we need to ask whether there is anything occurring that may change the outlook?
Vestas reveals offshore turbine with world’s largest sweep
This article by Paul Ridden for NewAtlas.com may be of interest to subscribers. Here is a section:
Each turbine is expected to deliver around 80 GWh of energy per year, depending on site-specific conditions, which is said to work out as being enough to power 20,000 European homes.
The V236-15.0 MW also offers the potential to reduce the number of turbines deployed at offshore windfarm level – with Vestas calculating that the “offshore turbine offers 65 percent higher annual energy production than the V173-9.5 MW, and for a 900-MW wind park it boosts production by five percent with 34 fewer turbines.”
The company expects the first V236-15.0 MW prototype to be built in 2022, with serial production following two years later. It has a design lifetime of 25 years.
“With the V236-15.0 MW, we raise the bar in terms of technological innovation and industrialization in the wind energy industry, in favor of building scale,” says Anders Nielsen, Vestas CTO. “By leveraging Vestas’ extensive proven technology, the new platform combines innovation with certainty to offer industry-leading performance while reaping the benefits of building on the supply chain of our entire product portfolio. The new offshore platform forms a solid foundation for future products and upgrades.”
Boosting production and needing to build fewer towers suggests there should be cost savings in construction. The big change in renewable energy occurred in late 2019 when economies of scale improved enough that the wind and solar sectors could survive without subsidies. That has led to a complete reappraisal of the rationale for investing in the sector. More recently it has allowed the renewable energy sector focus on the subsidies provided to fossil fuel companies across the energy supply chain.
Eoin’s personal portfolio – stop triggered on hedge position
One of the most commonly asked questions by subscribers is how to find details of my open traders. In an effort to make it easier I will simply repost the latest summary daily until there is a change.
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