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…
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New Fortress acquisitions ( Hygo and Golar LNG Partners)
New Fortress acquired last 13th January Hygo (including Suape Terminal) and Golar LNG Partners in a $5bn transaction. This deal allows NFE to enter in the Brazil market and to own its fleet of FRSU. New Fortress will pay Hygo with $580MM cash and $1.6bn in shares – 31.4MM shares. By contrast, NFE will pay for Partners all in cash (refinancing…
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Consequences of the Blue Wave in the markets
In 2020, the big winners of the stock market were the tech companies along with the renewable sector. Large caps performed much better than small caps and America did much better than Europe. The first big event for the markets this year has been the Senate election in Georgia. It had vital importance as this state decided the majority in…
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Offshore Wind Industry – Investing in the future
Background – What is the offshore wind industry about? The offshore wind industry refers to the production of electricity through the installations of wind farms in the sea. There are two types of wind parks, floating and fixed. The main advantage of offshore wind farms over the onshore ones is that the number of working hours is higher for the…
