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…
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No Guts No Glory – Portfolio Allocation
The relationship between risk and return is maybe one of the basic principles of investing. However, we have been taught since our childhood to have a risk aversion bias. This article is not about how good is to take risks. But how important is to understand when you are in the best position to take them. No Guts no Glory…
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Golar LNG – FLNG (Golar Hilli and Golar Gimi)
What is FLNG? – Floating liquefied natural gas First of all, FLNG states for Floating liquefied natural gas. Natural gas is extracted from the wellborn and transferred to the floating vessel. Then, the natural gas is treated, liquefied (-160 degrees Celsius) and storage in the FLNG vessel until it is offloaded by another LNG vessel. Golar LNG has one operating…
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New Fortress Energy 3Q20 Results
As my Portfolio Manager says, New Fortress is the perfect example of a company which is always putting shareholders expectation out of turn, and it never fulfils those expectations on time. However, after some quarters of undelivered promises (since its IPO in 2019), now investors can feel that something has changed. Its shares are up almost 500% since the March…
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Our approach to Passive Investment
Passive management or broadly speaking Indexation refers to the type of investment where the investor acquires a fund which replicates an Index or ETFs. In other words, the investor is not choosing a specific share but it is investing in all the companies included in the Index /ETF The main advantages of passive investment over the active one are: Lower…
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Why invest in stocks in 2020?
Reasons to invest in stocks in 2020 despite the current environment Under normal circumstances, I would answer this question by saying that stocks have provided the highest returns historically. It is much higher than inflation over time. Therefore, we can say that despite its volatility, it is the best place to put your money in the long-term. And this is…
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Reasons to have in the portfolio Cheniere instead of owning Enagas
A bit of background Last summer, we decided to sell all our shares of Enagas and we reinvested the money in Cheniere. Since then, Cheniere stock has appreciated around 30% and Enagas shares have declined 10%. Both companies have similar characteristics as they are in the business of LNG. Enagas owns the pipelines to transport natural gas. Cheniere has the…
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Golar LNG 3Q20 results
Shipping Shipping revenues were better than expected with a TCE of $39k/day instead of the $35k/day forecasted previously. It could have been higher but the Golar Tundra was locked down in the yard(Singapore)because of Covid for several months, diminishing the fleet utilisation. Currently, it is Sabine Pass, so it was in the yard probably till mid-October. Golar Viking conversion project…
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Cheniere 3Q20 results
Some comments about 3Q20 Cheniere conference call: The results of 3Q20 have not been goods for Cheniere. A bad quarter (as expected) due to cargo cancellations during the summer months. The fee related to the cargo cancellations ($450MM was added to the results of the 2Q20. The reason is that the cancellations were made in the 2Q20) Cheniere has just…
