So Long 2012

ISA operates under the theory the stock market continues in a secular bear market which began in 2000.  Strangely, the Dow has only had one negative year (’08 down 35%) the past 10 years.  The Dow was down a rare three years in a row from 2000-02.  At some point we expect a third and final downdraft, perhaps just not yet.

Rail Traffic Won’t Fall at Value Plays.

A Surprisingly Positive Final 2012 Update On Jobless Claims from Capital Speculator.

A pathetic list:  The 5 Best Commodities of 2012 at Minyanville.

Sorry, Folks, We Don’t Just Have ‘A Spending Problem’ at Business Insider.

2012: The Year in GraphsWashington Post.

Random charts tell interesting stories by Scott Grannis.

The Six Biggest Investing Lessons of 2012 by Josh Brown.

Brent Oil’s Third Year Over $100 Looms on Supply Risk (Bloomberg).  Yet Cushing stocks are at an all-time high (Platts).  I don’t agree with Bakken oil boom in question (Mining).  Bill O’Reilly is Misinforming Americans About Oil Supplies (Oil Drum).

Uranium:  “The new government in Japan has announced it will review the planned nuclear power phase-out proposed by the previous administration.”  BBC  Blowing Up: The Transfer Of French Nuclear Technology To China at Testosterone Pit.

Off topic on raising children:  A Nation of Wimps (Psychology Today).

Coming Wednesday:  “Hello 2013”.

4 thoughts on “So Long 2012

  1. J.J.
    Electricity generated by coal dropped 4.5 percent in 2012 due to emission regulations, low natural gas prices, and the retirement of outdated coal-fired power plants. Coal is predicted to increase 3 percent in 2013 and still appears to have a future in generating electricity. Do you see an opportunity in this sector?

    • US thermal coal quite simply needs higher natural gas prices. S/D for both NG and US thermal coal seem to be in balance, but with exceptionally large storage overhangs. Without enough winter left to chew through, the sectors could be dead money until next withdrawal season…

      Coal, however, could receive a boost sooner. China very well may be re-accelerating. If so, international thermal coal and met coal would rebound sooner.

      CLD remains my favorate coal play. NRP and ARLP are fine operations for income. I have no position.

  2. Regarding BOR, he should return to his old job at Inside Addition..

    Although I respect, Mr Schaefer, I believe his predictions will be quite wrong about the Bankkens.

    1 + million in production will happen within 24 months and total production will peak between 1.5 and 2 million bpd.

    In the future, those vast reserved not mined, will be recovered by new technology…Sorry, but the world never stands still…

    The good news, we did not go over Milk Cliff today…I am also having CLF and HLF stamped on my forehead for the lack of foresight…

    Happy Bourgeoisie New Year, to all of my comrades, hear ISA…!

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