The US is officially the largest oil producer in the world, and it's not even close.
Currently, the US is producing 12.9 million barrels per day of crude oil. This is nearly 30% more than the 10.1 million barrels per day that Russia produces and 33% more than Saudi Arabia. In fact, the US alone pumps 45% of the output produced by the entire OPEC combined. Furthermore, the US now produces nearly 4 TIMES as much oil as Brazil. Source: The Kobeissi Letter, Apollo
Here’s a nice map on AI companies by modality
Source: @chiefAIoffice, Pitchbook
"I’d be a bum on the street with a tin cup if the markets were always efficient.” - Warren Buffett
Source: MastersInvest.com
Central banks are STOCKING UP on gold:
Since 2022, China has bought a record ~290 tonnes of gold. Last year alone, China acquired more than 225 tonnes of the metal. China's central bank increased its gold holdings for 17 straight months. In 2022 and 2023, world central banks bought 1081 and 1037 tonnes of gold, respectively. Prior to 2022, there was never a year in history with 1,000+ tonnes of central bank gold purchases. Source: The Kobeissi Letter, BofA
THIS IS VERY FASCINATING:
BOEING AND AIRBUS EACH HAVE AROUND A 50% MARKET SHARE BUT BOEING PLANES HAVE ALMOST 4 TIMES MORE “INCIDENT’S” THAN AIRBUS PLANES Source: Gurgavin, Visual Capitalist
How are the 'Magnificent 7' Tech Stocks doing so far this year?
Nvidia Is Up +53.9% $NVDA Meta Is Up +35.9% $META Amazon Is Up +14.9% $AMZN Alphabet Is Up +10.5% $GOOGL Microsoft Is Up +6.1% $MSFT Apple Is Down -14.3% $AAPL Tesla Is Down -40.8% $TSLA $SPY Source: Bloomberg, Jesse Cohen
JUST IN: The New York Stock Exchange is considering a proposal for 24/7 trading, according to FT.
In other words, the stock market would never close much like crypto markets are now. Should 24/7 trading be approved? Source: FT, The Kobeissi Letter
🚨BREAKING: US senator Elizabeth Warren has proposed a 1% WEALTH TAX on Bitcoin holdings that exceed $500,000.
Source: Simply Bitcoin (as we can not find any link to this document on Mrs Warren website, there is still some likelihood that this is a fake - currently checking in)
