E Weak Week

Friday tried a recovery act but at the opening the DJIA dropped 4.3% which put paid the hope that we can avoid another weak week. The recovery was because retail sales data for June were strong, particularly in dining out, although in the end, the weak tech side cut the optimism.

I mentioned the Ark-manager Cathie Wood's ridiculous claim yesterday that bitcoin should appeal to Environmental, Social, and Corporate Governance investors because the environmental price for the creation of bitcoins is horrendous. Ms. Wood's fund stock has fallen in value in 11 of the past 12 days.

Rogelio Ramirez de la O, a Cambridge (UK) educated economist, has taken over as Mexican finance minister. I hope he will help the current government get out of its unhealthy taste for state ownership, but I fear he will not be able to teach the current president much. Andres Manuel Lopez Obrador is an old-time lefty who finally got the top job.

Business newspaper article

image source

We have good news from our company of the year after a week of mystery price rises I could not explain. The news came from its homeland stock market, not from one we normally read about. Friday's Financial Times reported details of a spin-off involving two shares we own.

And we have two corporate earnings reports. One was from Investor which is too complicated to write up today, and I will put something out over the weekend. The other is a sub of Investor discussed below. The Swedes like to do it all in one day, which is tough for a generalist writer like me. 

Drug Dealers

*Genfit, the French drug discovery group, reported on its liquidity contract with Crédit Industriel et Commercial as of end-June. The bank acts as market maker in France and it reported net buys of euros 49,480 shares. This boosted the GNFT shares price to rise 2.5% today. More drug news below.

Tech & Tele

*Telefonakitebolaget Ericsson, ERIC, is our worst performer today down 10.8%. The problem appears to be the death of Swedish neutrality in response to US pressures over 5G telephony. It fell in Stockholm and the premarket today after China threatened to retaliate against ERIC because Sweden has banned Huawei 5G.

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My Mexican tech team has completed the work to create a new website. It will go live next week so people will be able to subscribe and renew online. Doc P, VYAs, and Kenn will have to pay again to ...

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William K. 2 weeks ago Member's comment

All fuels from organic materials produce carbon oxides when they burn. This can be verified for you by any chemist. In addition, while making alcohol from bagasse, more energy is usually required than is made available. But at least it is not bidding up the price of food (corn). Fuel from food has done a lot of damage to the many populations that consume a lot of corn. Thus it is damaging to those who are not us.