Introduction It has been a great year. We close 2021 achieving a positive return in each of the four quarters. Specifically, in this last quarter, the managed portfolio moved up 17.6%. Our best performers in this 4Q21 have been Power REIT, Kistos, Greenalia and Greenvolt. We started the year with 9 positions in the managed portfolio, and we are finishing…
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Penn Virginia / Ranger Oil options strategy in a nutshell
Penn Virginia is an oil producer in the Eagle Ford. It is backed by Juniper Capital a PE group that specialised in Energy, and recently, it has been very active in the M&A segment. Penn Virginia has a good management team that follows a prudent hedging strategy. It has allowed them to be cash flow positive for 8 quarters in…
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Greenalia 1H21 – Summary (Notes)
Greenalia has obtained better than expected results in the first part of the year. The main reason has been the high power prices. Moreover, the number of wind farms in operation has increased. Nowadays, they have 5 wind farms working. Although Croa I, Croa II and Monte Tourado (28 out of 74.5MW of Wind) are in the testing phase, which…
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MORAM – 2Q21
Introduction This second quarter of 2021 has been a good one for MORAM. The managed portfolio went up 30.5% in these three months (including derivatives). Mainly due to our high exposition to the energy sector and small caps paying off. Brent price went up from $62.5 to $76, as well as natural gas and impacting positively to a significant part…
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Italian Wine Brands acquires Enoitalia to become the national leader among private companies
IWB acquires Enoitalia to become the national leader in the production and distribution of wines
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Zero Parks – The hydrogen JV of New Fortress Energy
New Fortress Energy intends to launch Zero Parks, a Joint Venture with Fortress Transportation and Infrastructure ($FTAI), which is managed by Fortress Investment Group, the same parent company as New Fortress Energy. In the last 12 months, NFE has launched Zero, its division focused on hydrogen alternatives to fossil fuels. At the beginning, NFE looked mainly at green hydrogen technologies and…
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MORAM – 1Q21 Comments
The portfolio during this first quarter has followed the same strategy we decided when the vaccine announcement, last 9th November 2020. Since then, the portfolio strategy has been focused on small caps and mainly value stocks. We are not a big fan of having only growth or value companies. We prefer to balance both weighting more the one we believe…
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New Fortress Energy 4Q20 results
New Fortress Energy – 4Q20 Results Conference Call These are the notes – and comments – from the New Fortress Conference Call regarding its 4Q20 results. Terminals NFE inked a contract to supply 250,000 gallons a day to CFE in Baja (Mexico). Both terminals in the construction phase (Mexico and Nicaragua) will be operative in May and June. It is…
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Golar LNG 4Q20 results
The last 3 months have been quite busy for Golar LNG. They did an AK (12MM shares to raise $100MM), executed a new $100 million credit facility and sold and LNG carrier (Golar Viking) which released $51.7MM. Golar used that money to repay the $150 MM bilateral facility and the $30 MM margin loan. Apart from that, Golar sold Hygo…
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Is inflation coming? – You better have a plan
The debate about potential inflation around the corner has been around for a while. Either inflation or deflation theories have their renowned supporters. Let’s have a look at the current situation to understand repercussion about how Central Banks are acting. It may help to realize the dimensions of the problem and how it affects the retail investors. The increase in…
