Introduction The underinvestment in refining capacity and refinery closures that we have witnessed in the US and Europe for the last years, along with the huge number of operation disruptions this year have resulted in the scarcity of refined oil products that we have today. In this article, we are going to focus on the US situation as we spot…
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IOG – Trick or treating in the North Sea
Introduction IOG’s share price was a carousel of emotions this week. The company published an RNS on Wednesday containing news that made the stock crash (56%). The next day, they replaced the CEO and COO. After that, news about stock purchases from the new management, and information about liquidity (the main concern of investors), IOG’s shares climbed 67% in 2…
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MORAM – Portfolio update 3Q22
Introduction The year in the markets has been complicated so far. The Nasdaq has suffered a 33.5% decline and S&P has lost 25% of its value. And we have the feeling that there will be more pain ahead on the road. The outcome of a global recession is assumed by everyone at this point. However, the most relevant thing is to pay attention…
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Vertex Energy 2Q22 Results Analysis
Vertex got hammered on Tuesday as they reported a loss of $63.8MM instead of the huge profits promised 3 months ago when they gave the guidance for its newly acquired Mobile refinery. They not only did not meet the huge expectations that the market had but also failed to convey confidence to the investors during the conference call. Consequently, the…
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MORAM – 2Q22 Portfolio Update
Introduction What a quarter and first part of the year… S&P500 had its worst performance since 1970 and the Nasdaq100 lost more than 30% in this 1H22. The main drivers behind the numbers are the data about inflation released in the last months across the world and the generalised feeling that after this summer, the economies of a significant part…
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Some thoughts on the current market situation…
Unleashed inflation due to the slow tightening of Central Banks is having a huge impact on the main street. It has raised prices and widened considerably the wealth gap in society. Now, when the effect of the massive QE is evident even for the central bankers, the FED is making a sprint to tapper and raise interest rates in 2022.…
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MORAM – 4Q21 Portfolio update
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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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
