When it comes to the history of oil and energy, nobody is more famous or well respected than Daniel Yergin. He is the Vice Chairman of S&P Global, and the Pulitzer Prize winning author of both The Prize: The Epic Quest for Oil, Money, and Power and The New Map: Energy, Climate, and the Clash of Nations. So we had to get his insights on the war in Iran, and its historical significance. Iran's abili...
When it comes to the history of oil and energy, nobody is more famous or well respected than Daniel Yergin. He is the Vice Chairman of S&P Global, and the Pulitzer Prize winning author of both The Prize: The Epic Quest for Oil, Money, and Power and The New Map: Energy, Climate, and the Clash of Nations. So we had to get his insights on the war in Iran, and its historical significance. Iran's ability to control the Straight against a much stronger military is a demonstration that the balance of global power is changing, with profound ramifications for countries around the world. We discuss how different regions are being affected, and how it will change their calculus when it comes to energy security. We also talk about the AI industry's seemingly insatiable demand for electricity, and how this is rippling across the entire energy landscape. (Source: Bloomberg)
A property developer is suing a former tenant for around £4.5 million ($6.1 million), arguing she reneged on the purchase of a seven-bedroom mansion just off one of London’s most sought after streets. Jun Zhang entered an agreement to purchase the north London home, previously rented out to England football captain Harry Kane , in December 2023 for £16.9 million, but failed to complete by the Apri...
A property developer is suing a former tenant for around £4.5 million ($6.1 million), arguing she reneged on the purchase of a seven-bedroom mansion just off one of London’s most sought after streets. Jun Zhang entered an agreement to purchase the north London home, previously rented out to England football captain Harry Kane , in December 2023 for £16.9 million, but failed to complete by the April 2024 deadline, according to High Court filings prepared for a trial this week in London. The failure to pay led developer Regal B A Ltd. to sell the house for a lower price five months later, leaving the firm on the hook for mortgage and transaction costs. Lawyers for Zhang argued that the fact High Trees, 16 White Lodge Close was sold at great haste for an undervalue was effectively Regal’s own fault. The house — which has a cinema room, indoor swimming pool , gym and treatment room — was sold for around £10.2 million on September 2024 to a newly formed company owned by a since-bankrupted businessman “Such a freefall drop in value is extraordinary,” Martin Dray, Zhang’s lawyer, said in written legal arguments. “She contends that the marketing was inadequate and the resale of the property to the newco was at a material undervalue.” The Bishops Avenue White Lodge Close sits just off The Bishops Avenue, a road so famous for its monied denizens it’s commonly referred to as “Billionaire’s Row.” Such properties are eye-wateringly expensive and can attract only a small number of affluent buyers, meaning they can take a long time to sell. Zhang’s lawyers argue that insufficient time and care was given to trying to sell the property. The Bishops Avenue has counted a coterie of business leaders and celebrities as residents. It also become emblematic of the slew of questionable capital that’s been attracted to the top end of London’s property market in recent decades, from Iran’s Supreme Leader to the former President of Kazakhstan . Recent sales on the road include a large house f...
Warren Buffett has famously said that his favorite holding period is "forever," but Berkshire Hathaway sells stocks all the time. Some of the stocks it has bought and sold in fairly quick succession over the past few years include: Keep in mind, that's just a partial list. When Buffett made this statement, back in 1988, he was talking specifically about Coca-Cola (NYSE: KO) , which he had just bou...
Warren Buffett has famously said that his favorite holding period is "forever," but Berkshire Hathaway sells stocks all the time. Some of the stocks it has bought and sold in fairly quick succession over the past few years include: Keep in mind, that's just a partial list. When Buffett made this statement, back in 1988, he was talking specifically about Coca-Cola (NYSE: KO) , which he had just bought. More recently, he's added American Express (NYSE: AXP) and Apple (NASDAQ: AAPL) to his list of stocks that he'd never sell. Let's see why these are three stocks to hold forever. Image source: The Motley Fool. Continue reading
Sullivan & Cromwell apologises to New York federal judge for string of errors in documents for Prince Group case The elite Wall Street law firm Sullivan & Cromwell has told a court that a major filing it made in a high-profile case contained errors resulting from hallucinations generated by artificial intelligence. Andrew Dietderich, the co-head of the firm’s global restructuring group, apologised...
Sullivan & Cromwell apologises to New York federal judge for string of errors in documents for Prince Group case The elite Wall Street law firm Sullivan & Cromwell has told a court that a major filing it made in a high-profile case contained errors resulting from hallucinations generated by artificial intelligence. Andrew Dietderich, the co-head of the firm’s global restructuring group, apologised in a letter to the New York federal judge Martin Glenn on Saturday for the string of mistakes which included inaccurate citations. Continue reading...
peterschreiber.media/iStock via Getty Images Strategy ( MSTR ) has surpassed BlackRock’s iShares Bitcoin Trust ( IBIT ) in Bitcoin ( BTC-USD ) holdings for the first time since Q2 2024. The BTC holder on Monday announced that it acquired 34.16K Bitcoin for ~$2.54B at an average price of ~$74.4K per bitcoin ( BTC-USD ), bringing its total holdings to 815,061 units. Meanwhile, BlackRock’s iShares Bi...
peterschreiber.media/iStock via Getty Images Strategy ( MSTR ) has surpassed BlackRock’s iShares Bitcoin Trust ( IBIT ) in Bitcoin ( BTC-USD ) holdings for the first time since Q2 2024. The BTC holder on Monday announced that it acquired 34.16K Bitcoin for ~$2.54B at an average price of ~$74.4K per bitcoin ( BTC-USD ), bringing its total holdings to 815,061 units. Meanwhile, BlackRock’s iShares Bitcoin Trust ( IBIT ) held 806,178.381 units in Bitcoin as of 20 April. The ETF was the fastest to reach $70B in assets and is among the top revenue drivers for BlackRock ( BLK ). Strategy has risen 168% in the past five years, while IBIT is up around 70% in the same period. More on Strategy, iShares Bitcoin Trust ETF IBIT: Why I Stepped To The Side (Technical Analysis) (Rating Downgrade) Stocks From Liberation Day To Iran War Strategy: Down 77% And Still Isn't Cheap Enough Capital Group raises bet on MicroStrategy with $747M purchase Strategy acquires 34K BTC using an ATM-funded $2.54B raise
Wondering if Meta Platforms is still reasonably priced after its strong run, or if you might be late to the story? This article unpacks what the current share price could imply about value. With the stock at US$668.84 and returns of 1.0% over 7 days, 12.7% over 30 days, 2.8% year to date and 34.1% over 1 year, plus a very large 3 year return and 122.1% over 5 years, the recent share price performa...
Wondering if Meta Platforms is still reasonably priced after its strong run, or if you might be late to the story? This article unpacks what the current share price could imply about value. With the stock at US$668.84 and returns of 1.0% over 7 days, 12.7% over 30 days, 2.8% year to date and 34.1% over 1 year, plus a very large 3 year return and 122.1% over 5 years, the recent share price performance gives plenty for valuation focused investors to consider. Recent headlines have centered on...