February 25, 2020. Today, we sold an energy position for a tanker company that transports liquified natural gas. This preferred was not listed in the Core Portfolio. We made a very nice Total Return profit but demand for LNG is heading down due to the virus situation. If you own similar positions, you should sell.
The Core Portfolio is now approaching 20% in CASH.
We are seeing a small rebound in the markets today, (as we forecast yesterday) BUT we do anticipate further declines for the financial markets.
We continue evaluating all positions for sell candidates.
Will we see shortages in Tide and Charmin!!!!
Proctor and Gamble, one of the world’s biggest “everyday product” manufacturers, has now officially warned that 17,600 of its products could be affected and disrupted by the coronavirus. The company’s CFO, Jon Moeller, said at a recent conference that P&G used 387 suppliers across China, shipping more than 9,000 materials, according to CIPS.org.
Coronavirus hurting tourism. Who would have thought. Full Article
.French Minister of Economy and Finance, Bruno Le Maire, told CNBC’s Dan Murphy on Sunday at the G-20 Finance Ministers and Central Bank Governors’ Meetings in Riyadh, Saudi Arabia, that the Covid-19 outbreak will have a material impact on the French economy and the world.
The country’s finance minister warned France’s tourism sector has plunged following the outbreak of the virus last month. “We have fewer tourists, of course, in France, about 30%, 40% less than expected,” Maire said.
“That’s, of course, an important impact for the French economy,” he said. Tourism represents 10% of GDP in the country and supports upwards of 3 million jobs.
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