Asia's Fuel Runway — Who's Safe & Who's Not 🔴 🇯🇵 Japan → 354 days | Crisis Mode 🇰🇷 S. Korea → 208 days | Price Controls 🇨🇳 China → 200 days | Hoarding 🇮🇳 India → 42 days | Fiscal Shock 🇻🇳 Vietnam → 15 days | 🚨 Emergency 🇮🇩 Indonesia → 20 days | Subsidy Strain India

🛢️ Top 15 Oil Companies by Production: 2000 vs 2025 ⚡ Million barrels per day — how the rankings shifted: 🔍 Biggest shifts: → 🇻🇪 PDVSA & 🇷🇺 YUKOS — completely vanished from top 15 → 🇦🇪 ADNOC surged from 1.1 → 3.0 Mb/d (+170% 🚀) → 🇷🇺 Russia now has 4 companies in the

JUST IN: The Strait of Hormuz is not closed. It is selectively open. And the only country it is open for is China. CNBC confirmed on 11 March, citing TankerTrackers satellite data corroborated by Kpler, that Iran has exported at least 11.7 million barrels of crude oil to China

Top 10 Container Shipping Lines (2026) 🇨🇭 MSC — 7.1 MTEU (21.4% share) 🇩🇰 Maersk — 4.6 MTEU (13.8% share) 🇫🇷 CMA-CGM — 4.1 MTEU (12.4% share) 🇨🇳 COSCO — 3.6 MTEU (10.7% share) 🇩🇪 Hapag-Lloyd — 2.4 MTEU (7.1% share) 🇯🇵 ONE — 2.1 MTEU (6.3% share) 🇹🇼 Evergreen — 1.9 MTEU

So much of this game is just trying your best not to learn the same lesson over and over again. The most recent re-learned lesson for me… common sense is nearly always a better foundation for a trade than expert wisdom if you think there’s a large inflection or regime shift

O mercado recompensa a independência; a vida social premia a conformidade. Fonte: The Knowledge Project Podcast — The $2 Trillion Bet Against AI | Nicolai Tangen

Excelente!

Active managers continue to reduce exposure to US equities. Grey lines highlight times when NAAIM Exposure Index fell to similar levels over the past 3 years.

Analysts are the most 'bullish' since 2010: After having just fallen below its 200 day mav, if the S&P now go on to see a pronounced bear market, we will look back at charts like these an an indication of peak bullishness. H/T Daily Chartbook

"The new WFH is WFC (work from compute)." COATUE

The US hit "peak oil" in 1970. Immediately after, OPEC exploited the situation. That was the oil shock of the 1970s. It was true structural change. And back then, cars got terrible gas mileage which made the shock far worse. In the 1980s, the Saudis flooded the market to

Here are some ways in which the world has gotten better.

17 Equations That Changed the World by Ian Stewart 1. Pythagoras’s Theorem a² + b² = c² Pythagoras, 530 BC 2. Logarithms log(xy) = log(x) + log(y) John Napier, 1610 3. Calculus df/dt = lim₍h→0₎ (f(t + h) - f(t)) / h Newton, 1668 4. Law

Mohnish Pabrai is one of the most famous value investors of the last 20 years. In 2022, Pabrai delivered a presentation that was a masterclass on business valuation. Let me break down his 5 key points 👇🏻🧵

China produces ~80% of its urea from coal rather than (as most other nations do) natural gas. The method is insulating Beijing from rising nitrogen fertiliser prices. I wrote ⤵️ this @Opinion column about the Chinese coal-to-chemicals industry last June. bloomberg.com/opinion/articl…

5. The easiest way to ruin a negotiation is to make it about winning. Peterson describes an exercise where one group was told to negotiate creatively and another was told to “win.” The “win” group made fewer deals, took longer, created more friction, and left with weaker

6. A negotiation can look successful on paper and still be a bad deal. Most people obsess over: price terms timing warranties remedies Those matter But if the process creates resentment, distrust, or rigidity, the deal may close and still fail later A deal that turns into

"I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up." - Charlie Munger