E Dogs Of War

Unleashing the dogs of war has led to commodity price rises, not just for the most-watched oil prices, but also for copper, palladium, platinum, and the barbaric relic, gold, along with non-relic bitcoin. It also appears to have convinced John Bolton, a former national security advisor fired and humiliated by President Trump, to agree to testify about Ukraine and other matters before the US Senate if subpoenaed. During the House investigation, he followed the White House directive not to testify but now appears to be ready to deliver the goods to the Senate. More for paid subscribers below.

Latina shares

*Copper miner Antofagasta duly rose 1.5% yesterday in London where it is listed. ANFGF here.

*Mexican bakery multinational Grupo Bimbo rose 7.7% yesterday after it bought Lender's bagels from Conagra along with a Mattoon (Illinois) bagel plant. The price was not released. GRBMF already owns US marques Sara Lee, Arnold, Entenmann's, and Thomas' English muffins and operates under the radar in many countries worldwide where it sells cookies, pizza, tortillas, pita, cakes, snacks. It is ignored by US analysts and may soon begin offering vegan products like its British rival Gregg's.

*Orbia Advance Corp (formerly Mexichem, MXCHF) maker of poly-vinyl chloride drip-feed agricultural systems and water pipes plans a US listing later this year or early next year and is controlled and managed by the Del Valle family. It does more business in the US than in Mexico, 20% of sales vs 9% but is still treated as a Mexican risk. But today a Mexican risk is a good thing and the stock is up.

*Mexican Equity & Income Fund is also up to nearly $12... I learned about Mexican multinationals from its Marilu Pichardo.

*SoQuiMich of Chile is up 0.9% to a new 2020 high at $26.95. It mines potash.

Cars and scooters

*Nio Inc of China, which was found for us by Austrian eco-investment specialist Max Deml, was up another 11% yesterday after its December vehicle sales levels rose over 25% sequentially from November, led by the ES7 and ES8. It closed 2019 having delivered 20,563 electric cars. We were lured into NIO because of its own electric scooter production line, but it turns out that SUVs and cars, whose production it outsources, are the growth. Despite soft auto sales, NIO boosted its deliveries for each of the last 5 months according to NIO CEO William Bin Li. It uses its owners to get others to visit its NIO Spaces where they can sign up not just for vehicles but also for instant battery replacement during long drives. In Dec., it added the premium 5-passenger electric coupe SUV EC6 expected to be another winner in the current year. We bought last month at $2.37 (in two batches.) Unlike Tesla, NIO is nowhere near its high but is also gaining market share as gas guzzlers fail to sell. Its shares are not widely shorted like those of Tesla.

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