New job, new firm but the same Free Whelan. Thank you for your continued support and keep unlocking valuable insights into the global market every week with me!
Here’s to another massive Tigers win against the Raiders, Swans win against the Giants and Port getting the absolute tar kicked out of them by anyone once again.
These cold days and long nights are about the time when calendars turn to what the plans are for Saturdays in late September.
Life is lovely.
What else is lovely? Your regular reminder as to why things keep on ticking and why it pays to be invested.
Here’s a chartstorm that tells a story of cause and effect.
Source: Carson Investment Research, Factset 06/21/2024
And if you’re wondering why “complacency” is the word of the day then here it is. The below is a result of the above.
Source: Binance Square
And a continual pile up of fundies being in, and believing that, “long the Mag 7” is both required and crowded.
This is from the recent BofA Fund Manager Survey.
Source: BofA Global Fund Manager Survey
Massively outstripping the months’ previous.
Source: Bloomberg
And the result…
Cause and effect…
Data Centres and how to power them
Two “must listen” podcasts this week. First is my own, obviously, in which Heath and I discuss elections, inflationary pressures on the Tooth Fairy, natural gas prices and Guzman & Gomez’s listing and burritos. Here’s the link.
And the second one to check out is the recent Odd Lots podcast by Bloomberg, they have the CSO of specialised cloud provider CoreWeave talking not only about chips but on my favourite “topic du jour”, energy consumption caused by data centres. Here’s the link but I’ve got more detail below.
The quote is from Robert Friedland of Ivanhoe Capital.
“Per Bloomberg AI Is Already Wreaking Havoc on Global Power Systems: Globally, there are more than 7,000 data centres built or in various stages of development, up from 3,600 in 2015. These data centres have the capacity to consume a combined 508 terawatt hours of electricity per year if they were to run constantly. That’s greater than the total annual electricity production for Italy or Australia. By 2034, global energy consumption by data centres is expected to top 1,580 TWh, about as much as is used by all of India.”
Source: Markets & Mayhem 🤖 - X
In 10 years, data centres will use the same amount of power as India today.
And the effect of this? In my view, it’s more things like this that started appearing on the feed over the weekend.
It’s a Micro Reactor being built by Rolls Royce. More info here https://www.rolls-royce.com/innovation/novel-nuclear.aspx
Source: teamdefence
These aren’t the way forward for data centres (they’re too small) but it’s funny how casually these are now appearing in the narrative.
Locally, Dutton is ahead in the polls, and I believe a good part of that is because of the nuclear policy. The weekend just contained a whole AFR weekend edition of nuclear conversation.
I have more to say on that matter but I am time-poor at the moment.
All the best and stay safe,
James
A quick detour to announce the BPC NRL Tipping Competition!
Welcome to the BPC NRL Tipping Competition for 2024. The season has kicked off with a bang in the glittery lights of Las Vegas. Panthers are favorites to take the crown again but the Broncos look like a formidable opponent to take revenge from the heartbreak of 2023. BPC loves its footy and we're very excited for the season ahead. We also love to win stuff so please keep an eye out for the prizes on offer. Sign up and join the game!
