Two of the world’s biggest asset managers are quitting Climate Action 100+, an investor group set up to prod companies over global warming.
Two of the world’s biggest asset managers are quitting an investor group set up to prod companies over global warming and a third is scaling back its participation, in a major setback to the ambitions of Climate Action 100+. JPMorgan Asset Management and State Street Global Advisors both confirmed they were leaving Climate Action 100+. BlackRock, the world’s largest money manager, is pulling out as a corporate member and transferring its participation to its smaller international arm. The departures weaken the climate group’s plan to use shareholder influence to step up pressure on polluting companies to decarbonise, because they mean that none of the world’s five largest asset managers are fully behind the effort. https://lnkd.in/eWcb-iPU Source: FT
Legendary Investor Warren Buffet’s Updated $347 BILLION Portfolio - sold some Apple shares
Warren Buffett's Berkshire Hathaway sold off about 10 million shares or almost $2 billion of Apple stock in the final quarter of 2023, according to the firm's 13-F filing. Berkshire also sold off the majority of its position in HP and about half of its shares of Paramount Global. The firm boosted its positions in Chevron and Occidental Petroleum, as well as Sirius XM Holdings. Berkshire exited large positions in StoneCo and D.R. Horton, as well as two smaller positions in insurance firms Globe Life and Markel. Source: Creative Capital, Reuters
Oil rigs are now contracting the most since the pandemic issues.
As highlighted by Tavi Costa -> US GDP is nearly 30% higher than pre-pandemic levels, while oil production remains at approximately the same level as it was in early 2020 Source: Bloomberg, Crescat Capital
Will the seasonality of volatility matter this year? 🤔
If so, we may be at the trough before a fairly significant rise into mid-March. Source: Markets & Mayhem
From The Markets article on US banks’ portfolios of commercial real estate:
“Bloomberg’s review found 22 banks with $10 billion to $100 billion of assets hold commercial property loans three times greater than their capital. Half of those firms had growth rates surpassing the thresholds laid out by regulators. The tally was even higher among banks with less than $10 billion of assets: 47 had outsize portfolios, of which 13 had swelled rapidly. The analysis excludes loans for nonresidential buildings that are occupied by their owners.” Source: Bloomberg
The best investors
Source: Compounding Quality
AI hype has hit a whole new level: Super Micro Computer is now the 161st largest public company in the United States.
One year ago, Super Micro Computer stock, $SMCI, was worth less than $5 billion. Today, it is worth $55 billion and up over 1000% from its 2023 low. Since January 1st, the stock is up a massive 230% adding ~$30 billion in market cap... Source: The Kobeissi Letter
Terrific threes
Just 3 stocks together are now bigger than the whole of EuroStoxx50, FTSE 100 and the SMI20. source : tme
