By Chris at www.CapitalistExploits.at
In May of last year I was attempting to figure out if there was an asymmetric play to be had in the land of sand and black gloop. There were a lot of moving pieces to deal with. I think it's worth revisiting but first it's worth reviewing what I thought just over a year ago. Much has subsequently happened so we can piece a little bit more together now.
Only Two Options For The Saudi Sheikhs
Sir Richard Branson once said that the quickest way to become a millionaire was to take a billion dollars and buy an airline. But, as EnerVest Ltd, a Houston-based private equity firm that focuses on energy investments, recently found out, there's more than one way to go broke investing in extremely volatile sectors.
Authored by Brendan Brown via The Mises Institute,
Authored by Kevin Muir via The Macro Tourist blog,
I am sure to madden a bunch of readers this afternoon, but here it goes nonetheless. For most of the spring and early summer, there were two poster children of speculative froth.
The first was Tesla. Egged higher by Elon Musk’s tweets poking fun at the skeptical short sellers, this stock was seemingly unstoppable. Rising from $240 in March, TSLA ticked at $387 in late June, squeezing the shorts by 61% in the space of one quarter.
Goldman Sachs has clinched an important victory in its race to transition from a stodgy investment bank into a fintech powerhouse: it was awarded a patent for its proposed "SETLcoin" cryptocurrency settlement system, according to CoinDesk, the first to report on the patent.
“The US Patent and Trademark Office (USPTO) published Goldman's patent on July 11, entitled "Cryptographic currency for securities settlement". The bank made headlines when the existence of the patent application was revealed in late 2015.”