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Poring, Pouring And Poor-ing
Appropriately, the pre-Labor Day trade in the US will be all about the US labor market. Also in focu
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“Energy and power prices in Europe went parabolic over the past several weeks”
Europe is just super interesting right now.
In one direction, there are all kinds of ways to play the competitive handicap that European companies are struggling with, including buying their ex-Europe competitors, and the restructuring of European energy.
In the other direction, the sentiment on Europe is so bad that it feels like the depths of Covid, meaning buy quality European names that will survive. Looking at some of the large cap industrials, seems like doubles abound.
I’m going to be in Europe for a few weeks and plan to spend that time focusing on these possible opportunities.
I can’t help but think the German chemical giants are going to be creamed. Fortunately, they are geographically diversified but the prices of energy and feedstocks will be unprecedented. February should be a good time to pick up some bargains.