Still Totally Confused + Earning Season
Earnings season starts on Wednesday with Kinder-Morgan - KMI - $31, and Halliburton - HAL - $30. That will be our main focus.
The political circus that has been marching by for the last 3 weeks is very difficult to judge.
On a good day I can see some “green shoots” of pro-growth economic policy. The new OMB guy, Russell Vought, might actually get something done. He has an impressive interview with Tucker Carlson. I am warming up to Scott Bessent.
On a bad day I see a weekend Fox host trying to run a $900 billion dollar defense department. I liked what he said in his confirmation hearings, but he will need a lot of help to execute the ideas. What could go wrong?
The big tech guys hanging out at the inaugural address was confusing, entertaining, creepy, and mildly encouraging. At first they seemed “out of place”, but one commentator said it was ok the have some competent folks in the crowd. I think Apple and Google are guilty of massive anti-trust violations, and Meta was a very bad censor. Amazon and Bezos is a mixed bag. I still do not trust Musk, but he can prove me wrong if he actually shrinks government. Let’s watch.
I tried to understand the tariff mess by looking at the big Canadian auto part maker, Magna International - MGA - $41, but got very confused, selling below 50% EV/Sales this could be a cheap stock.
We have about a 6 week earnings season:
Kinder-Morgan - 1/22 post
Halliburton - 1/22 during
Alexandria Real Estate - 1/27 post
Sysco - 1/28 during
Brunswick - 1/30 pre
Dow - 1/30 pre - let’s watch this one, not a holding yet
Revvity - 1/31 post
Tyson - 2/3 pre
RXO - 2/5 pre
Rayonier - 2/5 post
Corteva - 2/5 post
FirstCash 2/6 ???
Red Rock - 2/11 post
Restaurant Brands - 2/12 during
Royal Gold - 2/12 post
Iridium 2/14 pre
Matador 2/18 post
Teck - 2/19 during
HF Sinclair - 2/20- pre
Middleby - 2/20 ???
Nutrien - 2/20 during
Chart - 2/21 pre
Darling - 2/26 post
Nexstar - 2/27 pre
AES - 2/28 post
Thor - 3/7 pre