I love Grant Williams and his writing in his letter Things That Make You Go Hmmm... And this week's Outside the Box is the first section from his recent post, where he starts with a brief history of Gadhafi and ends up giving us a tutorial on oil pricing. This may be "inside baseball" (too much detail) for some of you; but these details are important, as the very ground of oil pricing is shifting away from the traditional sources. What will the mainstream media do? Wonder when they will shift, which will result in a LOT higher costs for most of the world. Besides, this is a fun read, and Grant is a great writer.
And quickly, this note From Dennis Gartman: "Finally... and we shall cover this at some greater length tomorrow... S&P has said over the weekend through one of its senior spokespeople in Europe that if a EUR-bond is underwritten it shall have the rating of the lowest rated constituent country involved and thus will have coupon far, far above that of Germany, or France or Belgium et al. A EUR-bond would thus have the credit rating of Greece!"
I may have to write about Europe again this week, as there is just so much going on. The key to watch is the German Constitutional Court decision, due Wednesday. If they rule against the euro, all h#$% will break loose. And they could, although I expect a more moderate outcome, as they realize the entire future of the euro project is riding on their ruling. Do they want to get blamed for imploding the euro?
This week's OTB comes at the end of Labor Day, when all my kids and various friends (some 30-odd) have shown up for food and grilling. I think I am a fair to middling writer and analyst, but I am a brilliant cook (none of this humble analyst stuff in the kitchen!), as all who get to sample my culinary offerings agree. Definitely not low-calorie offerings. Cooking is an all-morning and day affair. Partner Steve Blumenthal of CMG came down Monday morning for some needed businesses meetings, and it may be the first time we met in the kitchen while his partner was cooking. I had to attend to the serious stuff! Butternut squash/carrot soup must cook for 6-8 hours. Mushrooms, veggies, meat, grilling seasoning. They all take time and great attention to detail.
And Steve and Billy Peters (of Baton Rouge) took me to the LSU-Oregon game this Saturday evening in Cowboys Stadium with 87,000 fans, most of whom were from LSU. I have never seen such a rabid (the correct word) crowd. It may be something like English football crowds. I attend professional events all the time, but nothing prepared me for the volume of noise.
Have a great week. The house is starting to smell awesome, and my kitchen calls.
Your my ears are stilling ringing analyst,