Value Guild

CPI Comes in Hotter Than Expected on Hotel, Airline Fares; Used Car Prices Drop https://www.zerohedge.com/economics/cpi-comes-hotter-expected-hotel-airline-fares-used-car-prices-drop Looming Supply Gap Requires Trillions of Dollars in Investment By Ailing Oil and Gas Industry, IEF Warns https://www.spglobal.com/platts/en/market-insights/latest-news/natural-gas/121020-looming-supply-gap-requires-trillions-of-dollars-in-investment-by-ailing-oil-and-gas-industry-ief-warns

We’re at the Beginning of a Commodity Super Cycle https://themarket.ch/interview/were-at-the-beginning-of-a-commodity-super-cycle-ld.3092 A Historic Capital Rotation is Happening Hidden in Plain Sight https://seekingalpha.com/article/4391565-historic-capital-rotation-is-happening-hidden-in-plain-sight

  The Fed Has No Way Out https://www.zerohedge.com/economics/fed-has-no-way-out Did Value Wake Up Last Week? https://seekingalpha.com/article/4389851-value-wake-up-last-week More V-Shaped Signs http://scottgrannis.blogspot.com/

The Calm Before the Exchange Rate Storm? https://www.project-syndicate.org/commentary/covid19-currency-stability-unlikely-to-persist-long-term-by-kenneth-rogoff-2020-11 OPEC Cuts Global Oil Demand Again On New Round Of Lockdowns, But Doesn’t Account For Possible Vaccines https://www.zerohedge.com/markets/opec-cuts-global-oil-demand-again-new-round-lockdowns-doesnt-account-possible-vaccines Coronavirus vaccine will topple Big Tech’s stock market domination: Goldman Sachs https://www.foxbusiness.com/markets/coronavirus-vaccine-topple-stock-market-domination-big-tech Tonight, We Leave the Party Like It’s 1999 https://www.gmo.com/americas/research-library/tonight-we-leave-the-party-like-its-1999/?mc_cid=e59a5dba7d&mc_eid=[UNIQID] Zoom’s Boom May Be Over https://seekingalpha.com/article/4388081-zooms-boom-may-be-over

Growth, Inflation, and Interest Rates: The consensus view on Wall Street is that COVID19 has caused an acute deflationary bust in 2020 and that general uncertainty regarding the virus will continue to stifle demand for at least 12-18 months. Additionally, most financial pundits argue that ‘QEternity’ will NOT cause inflation, as evidenced by the fact

Chart 1: The Brent/SPX Cycle The blue line below shows the relative performance of Brent crude ($BRENT) versus the S&P 500 Index ($SPX). Over the past 30 years, this relative performance cycle has been strong and recurring: Q: Do we appear to be near the bottom of the Brent/SPX cycle? A: Yes.   Chart 2: