Wishful Thinking

Steve Hemingway
Mainly about what I'm thinking about at the time. Some politics, some economics, some market commentary, some nerdy computer stuff, some nice images I've discovered. I welcome engagement!
Created 13 Dec 2019
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  • Boomers considered harmful
    15 Oct 2021 • 4 min read
    Stock of the day: Whitecap Resources, a Canadian carbon-capture play This article makes the bull case for $WCP:TOR It’s an oil company that’s carbon negative, because it can store CO2 in so-called car...
  • Flashback to the 70s and 80s
    14 Oct 2021 • 4 min read
    Market cycle psychology I used to subscribe to Bill Fleckenstein’s daily post. It was interesting, but Bill suffers from being a perpetual bear, waiting for the Japan panic of 1992 to occur again in e...
  • Asymmetry in stock price behaviour
    13 Oct 2021 • 2 min read
    13 October Short squeezes explained This is an excellent piece on why short squeezes happen. Basically, it’s that when a stock has been battered down, shorting it has limited upside and unlimited down...
  • Exploring the Kosmos
    11 Oct 2021 • 3 min read
    11 Oct Apologies for the interruption in service. I’ve been away. Normal service will now be resumed. We are discovering how inelastic demand for energy is “The very same voices who argued that invest...
  • Move over Warren, Nancy's here
    01 Oct 2021 • 1 min read
    1 Oct EVs are the lard-arses of the road Most EVs weigh in excess of two tonnes. In comparison, the kerb weight of the old Renault 4 (admittedly, a flimsy car) could be as low at 600kg, 30% of the EV’...
  • Let them heat their homes with carbon offsets
    30 Sep 2021 • 3 min read
    30 Sept GBP.USD The pound has been cratering lately. The current account is terrible (?GBP 110 B, ~ 5% of GDP), the budget deficit is worse (14% of GDP). The UK is not the US: it’s currency is not a r...
  • Ideology considered beneficial
    29 Sep 2021 • 4 min read
    29 Sep Markets position The US equity markets are mostly at or near all time highs. The SPX P/E ratio is around 31, according to something I read, although measuring this is probably tricky as headlin...
  • Rocky Road Ahead
    28 Sep 2021 • 3 min read
    28 Sept What Kaplan did next Wall St on Parade has done a thorough job of eviscerating Rob Kaplan. To quote Ben Hunt, they are not even pretending any more. It just seems insane that someone in his po...
  • Some league tables you just don't want to be at the top of
    28 Sep 2021 • 2 min read
    Transparency International and the UK Transparency International maintains a league table of corruption. It’s the the sort of league table one doesn’t want one’s home country to be at the top of. To b...
  • Loan volume collapsing
    23 Sep 2021 • 2 min read
    23 Sept Collapse in US lending Various reflation skeptics, such as Lacy Hunt, Harley Bassman, Jeff Snider have been saying that inflation is going to crater. As I blogged a while ago, the increasing i...
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