Archive for the 'Market Commentary' Category

In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with Braxton Gann to discuss two shipping companies, Scorpio Tankers (STNG) and Diamond S Shipping Company (DSSI). 

Overview

A lot of managers are concerned about the "trade war" because less trade = less shipping. Braxton thinks that a trade war is a positive because the trade will be less efficient, increasing ton-miles.
 
Some investors also worry that a global recession will send these shipping companies into bankruptcy, forgetting that new supply would be cut off by a recession, and that obsolete vessels would be scrapped mercilessly.
 
There has been a lot of talk about OPEC cutting production being a negative for STNG, but STNG carries products, not crude. Saudi Arabia is adding refinery capacity, and the OPEC cuts will have to be renewed in March.
 

IMO 2020

Another puzzle is that shipping companies are downplaying the obvious effects of IMO 2020, which can easily be enforced by spot checks. Braxton thinks this is because most companies can't afford scrubbers, even though they offer payback times of 10 months or less.
 
Another factor that we didn't end up getting to on the show is that many shipyards are going bankrupt, and shippers will have to rebuild their balance sheets for a couple of quarters before ordering more product tankers, which can take a year and a half to build.
 

The Tanker Thesis

 
The main reason Braxton likes product tankers is due to the disruption that will occur from IMO 2020. Many ports don't have the low-sulfur fuels required for IMO 2020, and each low-sulfur blend must be carried in a different tank. Braxton started looking at product tankers when he realized they would be the ones carrying LSFO blends. Inventories of refined products and bunker fuels are surprisingly low, so you could get a double boost from normalizing inventories and arbitrages between ports. This could boost demand by 10% or more, excluding the effect of normal GDP growth.
 

Contact Eric Schleien

If you'd like to connect with me Eric directly, he always loves connecting with listeners of the Intelligent Investing Podcast on his personal Twitter.

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To follow The Intelligent Investing Podcast, click here.

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In this interview, Eric Schleien sits down with Jan Svenda to discuss Mills Music Trust.

Jan is a “deep value” investor/analyst mainly focused on the US small-cap and micro-cap universe. He started out with a long-only bias (stocks trading close to NCAV etc.) which led to his interest in the OTC world.

Jan covered this space through his exclusive newsletter service where he shared his latest long ideas and a watchlist of OTC stocks which should help subscribers generate material returns and allow them to “monitor” the OTC space more efficiently.

Connect with Jan Svenda

  • To learn more about Jan and his manual of OTC stocks, you can visit his website.
  •  He can also be reached via LinkedIn.

Connect With Eric Schleien

  • Visit Eric Schleien’s Podcast
  • Visit Eric Schleien’s Twitter
  • Visit The Intelligent Investing Podcast’s Twitter
  • Like The Intelligent Investing Podcast on Facebook
  • Follow Eric Schleien on Facebook
  • Visit Granite State Capital Management’s Website
  • Follow Eric Schleien on Instagram

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Episode #53 of the Intelligent Investing Podcast brings back Brian Langis to discuss the recent transaction between Brookfield Asset Management (BAM) and Oaktree Capital, LLC (OAK). 

Full Link:

https://ericschleien.com/podcast/brian-langis-the-oaktree-capital-brookfield-asset-management-transaction/

 

Connect with Brian Langis: 

Visit Brian Langis' BLOG: https://brianlangis.wordpress.com/author/brianlangis/

Visit Brian Langis' SEEKING ALPHA: https://seekingalpha.com/author/brian-langis

Visit Brian Langis' LINKEDIN: https://www.linkedin.com/in/brianlangis/

Visit Brian Langis's FACEBOOK: https://www.facebook.com/brian.langis

Visit Brian Langis' TWITTER: https://twitter.com/absolut_brian

 

Connect with Eric Schleien: 

Visit Eric Schleien's PODCAST: https://www.EricSchleien.com/Podcast

Visit Eric Schleien's TWITTER: https://twitter.com/ericschleien

Visit The Intelligent Investing Podcast's TWITTER: https://twitter.com/investingcast

Like The Intelligent Investing Podcast on FACEBOOK: https://www.facebook.com/theintelligentinvestingpodcast/

Follow Eric Schleien on FACEBOOK: https://www.facebook.com/eric.schleien

Visit Granite State Capital Management's WEBSITE: https://www.GSCM.co

Follow Eric Schleien on INSTAGRAM: https://www.instagram.com/ericschleien/

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In this episode, Eric Schleien and Brian Langis discuss Warren Buffett's CNBC interview from Monday, February 25, 2019. We also discuss Warren Buffett's letter that was recently released on Saturday. You can find a podcast on the letter, here: https://intelligentinvesting.podbean.com/e/2018-berkshire-hathaway-letter-to-shareholders-intelligent-investing-podcast-eric-schleien/

 

Show Links: 

1) CNBC Full Interview with Warren Buffett: https://www.cnbc.com/video/2019/02/25/warren-buffett-cnbc-full-interview-berkshire-hathaway.html

 

Connect with Brian Langis: 

Visit Brian Langis' BLOG: https://brianlangis.wordpress.com/author/brianlangis/

Visit Brian Langis' SEEKING ALPHA: https://seekingalpha.com/author/brian-langis

Visit Brian Langis' LINKEDIN: https://www.linkedin.com/in/brianlangis/

Visit Brian Langis's FACEBOOK: https://www.facebook.com/brian.langis

Visit Brian Langis' TWITTER: https://twitter.com/absolut_brian

 

Connect with Eric Schleien: 

Visit Eric Schleien's PODCAST: http://intelligentinvesting.podbean.com

Visit Eric Schleien's WEBSITE: https://www.EricSchleien.com

Visit Eric Schleien's TWITTER: https://twitter.com/ericschleien

Visit The Intelligent Investing Podcast's TWITTER: https://twitter.com/investingcast

Like The Intelligent Investing Podcast on FACEBOOK: https://www.facebook.com/theintelligentinvestingpodcast/

Follow Eric Schleien on FACEBOOK: https://www.facebook.com/eric.schleien

Visit Granite State Capital Management's WEBSITE: https://www.GSCM.co

Follow Eric Schleien on INSTAGRAM: https://www.instagram.com/ericschleien/

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Warren Buffett released his letter to shareholders this morning. I break it down with my thoughts and go over some of the key highlights.

 

The full letter can be found here: http://www.berkshirehathaway.com/2018ar/linksannual18.html

 

If you'd like to connect with me regarding the letter to discuss more, feel free to reach out!

 

Connect with Eric Schleien:

Visit Eric Schleien's PODCAST: http://intelligentinvesting.podbean.com

Visit Eric Schleien's WEBSITE: https://www.EricSchleien.com

Visit Eric Schleien's TWITTER: https://twitter.com/ericschleien

Visit The Intelligent Investing Podcast's TWITTER: https://twitter.com/investingcast

Like The Intelligent Investing Podcast on FACEBOOK: https://www.facebook.com/theintelligentinvestingpodcast/

Follow Eric Schleien on FACEBOOK: https://www.facebook.com/eric.schleien

Visit Granite State Capital Management's WEBSITE: https://www.GSCM.co

Follow Eric Schleien on INSTAGRAM: https://www.instagram.com/ericschleien/

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In this episode, Eric Schleien & Brian Langis discuss the merits of investing in Cuba.

Hope you enjoy! 

--

Follow Brian on Seeking Alpha, Twitter, and his blog.

Follow Eric on Seeking Alpha, Twitter, Facebook, LinkedIn, and GSCM.

Disclosure: I, Eric Schleien, have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I also have no investments in Cuba nor plan to have investments in Cuba within the next 72 hours. I recorded this podcast myself, and it expresses my own opinions. I am not receiving compensation for it (other than from any kind of marketing or advertising on this platform). I have no business relationship with any company mentioned in this podcast. I have no business relationships with the government of Cuba.

 

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Hey guys, it's Eric Schleien. Today's episode I've recorded on Christmas Eve after a recent market correction. No interview today, just my own personal thoughts/commentary. If you're a seasoned investor and not worried about the market correction, this episode is NOT for you. However, if you're a listener who isn't a full-time investor and you're worried or overwhelmed by the recent stock market decline, I think it's crucial you listen to this to help cut through the emotional noise.

Links referenced in this episode:

1. What does it mean when stocks enter a ‘bear market?’

2. Is Holding Cash a Good Idea?

 

Transcript exclusively on SeekingAlpha 

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In this episode, Eric Schleien & Brian Langis do a re-cap on Brookfield Asset Management & Tesla. To read the article associated with the podcast, click here: https://seekingalpha.com/article/4211744-getting-weeds?source=all_articles_title

Then, the rest of the episode is dedicated to the marijuana industry and the publicly traded companies poised to benefit. Neither will touch that shit with a 10-foot pole...or bong...or whatever you want to use NOT to touch these stocks that are priced to perfection and beyond. 

What makes this episode unique is that Eric & Brian get very high up into the big picture as well as get right into the weeds with the nitty-gritty details of the industry/environment. Makes for some super interesting discussion. 

You can always follow Brian's articles on SeekingAlpha here: https://seekingalpha.com/author/brian-langis/articles#regular_articles

 

Or you can hit up his blog here: https://brianlangis.wordpress.com/author/brianlangis/

 

A transcript for this episode is now available.

Enjoy!

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Is Tesla a Fraud?

In this episode Eric Schleien & Brian Langis discuss Tesla. 

 

Show Notes:

 

Brian is a Chartered Business Valuation (CBV) by profession and also manages an investment holding company.

Check him out here!
 
Twitter: @absolut_brian
Blog: http://www.brianlangis.com/
SeekingAlpha: https://seekingalpha.com/author/brian-langis/articles#regular_articles

 
 
Hope you enjoy the episode!

Best,

Eric 

My personal website: http://www.EricSchleien.com
Granite State Capital Management, LLC: http://www.GSCM.co

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Big shout out to our sponsor for this episode.... VPN.com !!!

 

On this episode of The Intelligent Investing Podcast, Eric Schleien interviews Tim Bergin once again to touch base after having him on a year prior.

 

Tim is the founder of OnBeyondInvesting

Eric serves as the CEO of Granite State Capital Management, LLC - an investment management firm based in New Hampshire. 

http://www.EricSchleien.com

http://www.GSCM.co

 

 

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