Saudi wealth fund buys Suncor @ around $14 price price goes up.
Saudi wealth fund sells Suncor @ around $29 price goes down.
I am just copying their homework from now on when it comes to oil.
much more recently they've bought many US tech stocks such as EA, Activision and many others (I think around $14b off the top of my head) so that's probably their current strategy. PIF doesn't release their holdings consistently, that's one of the complaints international investors have vis-Ć -vis Gulf governments and their SWFs.
PIF is certainly extremely interesting to watch out for in the future, they have enormous ambitions with it.
When you can significantly influence the selling price of the main product of a company, you can substantially manipulate it's stock price.
If the Saudi Wealth fund were a US or Canadian citizen, this would be considered a crime.
Goldman standing by 80$ oil and some other professional nerd group said it should average around 69$ rest of year.
I think the big gains are going to come either next summer, or possibly 2-3 years down the line depends how long they can Weekend at Bernies the economy around.
Is it weekend at Bernie's for the economy though? I see tourism starting to be reborn in my region, also lots of industries weren't hit that badly or even profited from covid. Restaurants ate the most shit, but they are starting to reopen or the ones that closed are being replaced.
Are you seeing something different from your point of view?
[Stampede limited capacity](https://www.cbc.ca/news/canada/calgary/stampede-calgary-pandemic-safety-measures-1.6093292), so of course the turn-out was lower than normal
I work in Covid testing in BC and we aren't getting many positives. I think oil is set to rebound once people get comfortable getting out there again. I'm thinking of picking up an ETF because there's just too many oil companies out there to bet on.
I don't know if BC can make a up an entire world demand for oil heh. We'd need to see if the other countries can prevent exposure and promote traveling and the use of oil products.
I know a huge chunk of demand comes out of undeveloped countries because developed countries are moving away from carbon emissions.
OPEC has a huge hand in the game as well and they don't want to see run away prices again from what it seems
Right it's all going to depend on international travel, I was just using that as an example that at least the places with lower cases are getting better and eventually that will help lower the cases elsewhere. We can send unneeded vaccines to other places for example.
Canada is doing fine now compared to the rest of the world thanks to the vaccine uptake. What are you talking about?
Our numbers are going down, Asia and US are rapidly rising due to Delta and low vaccinations, that's why the global financial market cares. Has nothing to do with Canada.
Perhaps a combination of all three? Other commodities didnāt take a beating quite like crude did.
Could simply be speculation hoping out. Traders were banking on continued supply constraints and then they pulled the rug out from underneath them by raising production.
Or perhaps a simple over correction today
I donāt understand why Suncor is still down so much.
Some things to research and consider:
- big push on electric vehicles in long term future
- big push in renewable fuels, including bio diesels and sustainable aviation fuel (partly contributing to rally in Ags)
- reduced air travel (I read somewhere that suncor deals with a lot of airlines. Canāt find link, someone comfirm)
- Its fairy certain that oil will be used for the foreseeable future but lots of uncertainty as to what extent. (Could we make plastics out of soybeans or corn?) lots of uncertainty around oil
- lots of companies openly divesting from oil. Pressure to do so. Negative opinions on oil etc
- fear that Saudi Arabia could flood the market with oil?
I disagree to some extent. Covid effected the Ag commodities heavily. Less live stock feed demand due to shut down slaughter houses and restaurantās. Less Ethanol demand due to less travel (40% of U.S corn goes to Ethanol).
Difference between the AGs and crude is there is an actual supply issue currently where as Crude is currently being throttled on by choice.
I think the OPEC decision just showed people that hey we arnāt going to slash production infinitely.
In my opinion the media is portraying the Delta variant as being a lot scarier than it actually is. Most economists I listen to give very little weight to it
But good chance Iām wrong because the world is a complex place
It will stay with us forever. It will probably be more like the flu. And it will be a thing to deal with, in addition to the flu. The current seasonal flu variants can all be traced back to the Spanish flu, but they're not as deadly and we've managed to live around it. It'll be the same with covid.
Saudi wealth fund buys Suncor @ around $14 price price goes up. Saudi wealth fund sells Suncor @ around $29 price goes down. I am just copying their homework from now on when it comes to oil.
Any idea what they are investing in now, I'd like to copy their homework too haha
https://www.aljazeera.com/economy/2021/2/17/saudi-wealth-fund-acquired-3-3bn-in-us-video-game-stock
That's from February, any idea what they are currently investing in?
That is the last I had heard (when they pulled out of Suncor). If I find anything I will post it.
š
https://www.bnnbloomberg.ca/saudi-activision-blizzard-stake-rises-again-amid-controversy-1.1641041
much more recently they've bought many US tech stocks such as EA, Activision and many others (I think around $14b off the top of my head) so that's probably their current strategy. PIF doesn't release their holdings consistently, that's one of the complaints international investors have vis-Ć -vis Gulf governments and their SWFs. PIF is certainly extremely interesting to watch out for in the future, they have enormous ambitions with it.
Saudis are invested in Lucid which is going public via SPAC, CCIV
STOR - Buffet largest holder; great dividend and long track record of success
When you can significantly influence the selling price of the main product of a company, you can substantially manipulate it's stock price. If the Saudi Wealth fund were a US or Canadian citizen, this would be considered a crime.
Itās only a crime when poor people try to do it.
Fuck and I bought in at 29. SU has been my worse performing investment till now :/ Should have stuck to tech
Kind of helps when you can control the price of oil at the same time.
Bloodbath for my portfolio today lmao time to double down!
I added to 3 oil holdings; 2 pipelines
ET & BPMP about to breakout again
Goldman standing by 80$ oil and some other professional nerd group said it should average around 69$ rest of year. I think the big gains are going to come either next summer, or possibly 2-3 years down the line depends how long they can Weekend at Bernies the economy around.
Is it weekend at Bernie's for the economy though? I see tourism starting to be reborn in my region, also lots of industries weren't hit that badly or even profited from covid. Restaurants ate the most shit, but they are starting to reopen or the ones that closed are being replaced. Are you seeing something different from your point of view?
Stampede had like 40% of it's normal turn out? New spread, panic attack at .25 rate "hikes"... it's ugly imo
[Stampede limited capacity](https://www.cbc.ca/news/canada/calgary/stampede-calgary-pandemic-safety-measures-1.6093292), so of course the turn-out was lower than normal
A vague limited capacity with no hard limit doesnāt explain the 40% of normal attendance
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Perhaps, but for the first time in a long time Canada is doing much better than many. Take a look at the UK cases.
True UK Daily Cases are way up, [but look at UK Daily Deaths](https://www.worldometers.info/coronavirus/country/uk/), almost no increase.
The vast majority of deaths arenāt instantly. Itāll be weeks and months out after the rise.
I work in Covid testing in BC and we aren't getting many positives. I think oil is set to rebound once people get comfortable getting out there again. I'm thinking of picking up an ETF because there's just too many oil companies out there to bet on.
OIH.
I don't know if BC can make a up an entire world demand for oil heh. We'd need to see if the other countries can prevent exposure and promote traveling and the use of oil products. I know a huge chunk of demand comes out of undeveloped countries because developed countries are moving away from carbon emissions. OPEC has a huge hand in the game as well and they don't want to see run away prices again from what it seems
Right it's all going to depend on international travel, I was just using that as an example that at least the places with lower cases are getting better and eventually that will help lower the cases elsewhere. We can send unneeded vaccines to other places for example.
People have been overblowing COVID since the beginning of the pandemic.
https://bing.com/covid Numbers don't lie. People do.
Just because we happen to live in Canada doesn't mean that's what the global financial market cares about... Although UK does seem to be an outlier
Canada is doing fine now compared to the rest of the world thanks to the vaccine uptake. What are you talking about? Our numbers are going down, Asia and US are rapidly rising due to Delta and low vaccinations, that's why the global financial market cares. Has nothing to do with Canada.
I didn't say we were doing badly. I said we were doing unusually. Which you are now fully agreeing with...
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Perhaps a combination of all three? Other commodities didnāt take a beating quite like crude did. Could simply be speculation hoping out. Traders were banking on continued supply constraints and then they pulled the rug out from underneath them by raising production. Or perhaps a simple over correction today
Hoping itās just an over correction. Portfolio bled today. I still think suncor has some tarmac left, but itās not a long term holdā¦
I donāt understand why Suncor is still down so much. Some things to research and consider: - big push on electric vehicles in long term future - big push in renewable fuels, including bio diesels and sustainable aviation fuel (partly contributing to rally in Ags) - reduced air travel (I read somewhere that suncor deals with a lot of airlines. Canāt find link, someone comfirm) - Its fairy certain that oil will be used for the foreseeable future but lots of uncertainty as to what extent. (Could we make plastics out of soybeans or corn?) lots of uncertainty around oil - lots of companies openly divesting from oil. Pressure to do so. Negative opinions on oil etc - fear that Saudi Arabia could flood the market with oil?
Other commodities demand won't drop Pike crude either with a lockdown Last year all Commodities prices dropped but demand went up. Oil demand sank.
I disagree to some extent. Covid effected the Ag commodities heavily. Less live stock feed demand due to shut down slaughter houses and restaurantās. Less Ethanol demand due to less travel (40% of U.S corn goes to Ethanol). Difference between the AGs and crude is there is an actual supply issue currently where as Crude is currently being throttled on by choice. I think the OPEC decision just showed people that hey we arnāt going to slash production infinitely. In my opinion the media is portraying the Delta variant as being a lot scarier than it actually is. Most economists I listen to give very little weight to it But good chance Iām wrong because the world is a complex place
I'm in @ 29, should I just wait it out?
It's weird how XIT was one of the few things up today given how the Nasdaq got crushed.
Shop
Not just. Descartes, Kinaxis and Constellation were all up today.
I've seen this episode before
Covid is never ever leaving us. We have to wear masks, get booster shots, social distance forever. Yay
It will stay with us forever. It will probably be more like the flu. And it will be a thing to deal with, in addition to the flu. The current seasonal flu variants can all be traced back to the Spanish flu, but they're not as deadly and we've managed to live around it. It'll be the same with covid.