E Powell Failure

*NIO of China fell another 7.38% which Barron's Daily says is 42% off its high and while expensive, is less so than Tesla. Chinese car firm all reported lower sales in Feb. but that is because of the Chinese New Year gap. The weekly thinks the Chinese electric vehicle firms will beat Tesla in recovery.

Tech

*Piper Jaffrey issued a positive note on Qualcomm, QCOM. We own it not for its chips but for its unlisted Israeli startups. Analyst Haren Kumar has a target price of $160 while it is now at $132.11.

*Mercado Libre fell a half percent in part because its “presentation” of results was incomprehensible and incomplete. MELI.

*Nokia is down another 5.3% to $3.77 as the only ADR hit by the Reddit phenomenon. It is also off because US interest rates are up, and because it was dropped from the Eurostoxx 50 index in favor of Infineon as of Mar. 22. It has set a target of halving emissions from 2019 by 2030 and in that period will probably grow like topsy, as long as chips are available. NOK.

*Damien Roberts on Talkmarkets is upbeat on NIO, the Chinese electric vehicle company. He even signed his name.

*Game maker Fanuc of Japan fell 2.5% today. We sold most of our FANUY in Jan. despite Abhimanyu Sisodia loving the stock.

*Takeover candidate Renishaw, RNSHF, lost another 5.91% today presumably because it will be sold too cheaply. It makes precision cutting machines.

*Computer Modelling of Canada which designs drilling systems for oil and gas fields, fell 3.92%. CMDXF.

Finance

*CBOE rose 3.2% after Piper analyst Richard Repetto upgraded it to overweight from neutral because of rising revenue per contract. He predicts that eps will hit $1.46/sh this year, up a dime on sales of $5.38 mn, vs earlier forecast of $5.17 mn. In 2022 sales are expected to hit $5.45 mn vs an earlier level of $5.32 mn. CBOE is a favorite stock for institutions using its services on markets for options, equities, and fixed income, The precision of Mr. Repetto's forecasts is impressive. He says the multiples on CBOE are the lowest of all exchanges covering US issues and it is still at 2018 price levels despite higher income and sales last year.

*Sweden's Investor AB, IVSBF, a proxy for a Scandinavian fund, fell 8.8% today.

*Hong Kong's AIA Group, AAIGF is up 1.82% more still on the Nomura tip yesterday.

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Vivian Lewis 2 months ago Author's comment

dear William K, I think that your theory about wage levels assumes that the workers have the ability to get what they deserve from their bosses. But in my lifetime as theie unions were enfeebled, this is no longer true most of the time. Only teachers still can get the pay and conditions they demand, not factory workers, Amazon pickers, drivers, etc.

As for vaccine reactions by Japanese men, it may be a coincidence but it probably was not. The fault may not have been in the AZ jab but in something else about the administration of the vaccine. When we got ours (me and my husband) we had to stay at the hospital for a half hour after the injection to make sure everything was ok. I may not have been the same procedure in Japan. We got the Moderna not the AZ jab but they all do have risks. A vaccine is potent.

William K. 2 months ago Member's comment

There is an intrinsic flaw in the whole concept of a minimum wage, which is that the amount is linked to the recipients needs. The pay amount is normally linked to the value delivered, just like purchasing products at a store, at least, at some stores. Employment is not a charity operation, usually. Folks are mostly paid based on the value they can provide to the employer. The exception is primarily CEOs and boards of directors, who seem to be paid based on their ability to "speak sunshine" to investors, both current and potential.

The A-Z vaccine scare is unusual because ao much is unknown about the details. Consider how many folks have had the stuff and not had any problems at all is my point. If a million used the vaccine with no problems and then two did have problems, the evidence points far more at the two, as I see it.