Are you a subscriber? You need to LOG IN to see today's content.
The free preview lets you access all content over a year old – the Market Rap from one year ago today is posted below.
Subscribers get full access to premium site content such as the Market Rap and daily Q&A, with the opportunity to "Ask Fleck" your own questions.
Learn more about Bill and what's available on the site.
The Jailbreak Continues
Daily Rap 12-01-2023
The indices were marginally higher through midday and in the afternoon the market pushed higher, with the Dow/S&P gaining about 0.5%.
In company-specific news, Dell was forced to acknowledge that business was worse than it had expected, which matters because what it had to say dovetailed nicely with what CDW, Insight Enterprises, and PC Connections all reported in their recent conference calls (which you already know if you are reading Fred Hickey's letter). What these collectively mean is that we're very likely already in recession and spending on PC-oriented tech products is deteriorating rapidly, on top of the deterioration we've already seen.
In Short Order
I haven't brought up a lot of these negative data points because I haven't felt they...more
Last year's posts for Ask Fleck
Q: Not a question just a thanks for your common sense comments on climate change. The climate has always changed and will continue to do so in the future. The earth has been a ball of ice and completely iceless in its history with no contribution from mankind. "Unsettled" one of the books you recommended helps put things in perspective.
Fleck: Thanks.
(posted: 12/1/2023)
Q: To your reader who asked about Franco Nevada (FNV), Fred Hickey mentioned it in his most recent newsletter, since he holds a small position.
Fred always researches his stuff very well. He thinks FNV is well run. He says the problem in Panama has been the only big one for FNV and that, even if that mine never reopens, FNV is worth close to where it is now. He has increased the size of his position (though still a smaller position of his).
Fleck: FNV is in fact well run. That isn't the issue. The question is how big of a problem will this Cobre/Panama issue be? I can't help with that analysis, as I'm not current on it, and I have no feel (or insight) for that country.
(posted: 12/1/2023)
Q: I know you don't want to open a climate can of worms. I would like to add my primary issue with the current state of climate science.
From what I have researched, the earth is usually much warmer than it is today....we are still in a form of ice age. Polar ice caps are not that common over the earth's history, for example. The whole notion that humans can somehow prevent a warming cycle that could be much more extreme than is discussed in the media is ridiculous. And climate scientists have somehow fooled much of the public that if we reduce CO2 that we can keep global temperatures within 1.5-2 degrees Celsius from pre-industrial times.
If the earth is going to get warmer there isn't a heck of a lot humans can do about it. I simply cannot trust any of the proclamations put forth by mainstream climate scientists.
Sorry
Fleck: I don't want to either, nor do I disagree with your comments.
(posted: 12/1/2023)
more Ask Fleck...