Tuesday 19, July 2022

Heat exhaustion

In my office today, the temperature hit 36.4 deg. C. That’s too hot. It’s 34.8C now, which is still too hot.

Wrap.

Rampant risk-on. NDX up 3% on no news. In fact, BofA Global Fund Manager Survey showed lowest equity allocation since Lehman Bros. and highest cash levels since 2001.

I guess we’re well into BTFD territory.

Stock Picks

Rubellite Energy Inc. (RBY.TO) seems worth taking a look. No debt, forward P/E 7.4. Seems to have net cash. It’s a subsidiary of Perpetual Energy, but separately listed.

I saw this touted on some newsletter, so it’s probably a Ponzi. You’ve been warned!