Good Reads
Nickel Arbitrage
In 2011, legendary investor Kyle Bass bought 20 million nickels for $1 million. The media considered it a novelty investment and most people laughed at his purchase. At the time, the intrinsic value of a nickel was 6.8 cents. So, his $1 million stash of coins was really worth $1,360,000. If he melted the coins down for their metal value, that would be an immediate 36% gain on his investment. Not bad. Read on »
One Chart Says It All: Something is About to “Snap”
For brevity’s sake, let’s at least make the boring simple. Sovereign bonds are IOUs from nations. Their prices go up when demand is strong and down when demand is weak. When bond prices rise, their yields go down. When bond prices fall, their yields go up. But why do yields matter? Read on »
Exxon already mined this trade once
I bet you can’t name the company that built the world’s first rechargeable lithium battery. If you said Tesla, Panasonic, or any name with “battery” in it… you’re off by fifty years and an entire industry. The patent is US 4,009,052 and it was filed April 5, 1976. The assignee of the patent was Exxon Research and Engineering Co. The oil company invented the battery. And then they walked away from it. Read on »
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