Bloomberg2 Sept 17

On August 31, 2017, Jim Brilliant, CFA, CIO, and Century Management portfolio manager was interviewed by Barron's, Reuters, and Market Watch.  He was also interviewed on air by Bloomberg Radio.  The following are quotes or excerpts from those interviews:

Century Management's Brilliant Says Oil Industry Resilient to Storms

 

 

James Brilliant, Century Management Investment Advisors co-CIO, discusses the impact of Hurricane Harvey on the oil industry with Bloomberg's Julia Chatterley and Joe Weisenthal on "What'd You Miss?" (Source: Bloomberg).

SP 500 Gap

Scott Van Den Berg, CFP®,  Jim Brilliant, CFA, and Arnold Van Den Berg review the following in this CM Market Update:

  • Rebound Expectations - Analysts compiled by Bloomberg expect the energy sector to have the biggest price return over the next 12 months, more than double the estimated advance for any other sector.
  • Digging Deeper - Analysts compiled by Bloomberg forecast explorers and drillers to have the highest returns within the energy sector over the next 12 months.
  • The increase in market value in 2017 alone for Apple, Google, Amazon, and Facebook, has surpassed the entire market value for some of the largest companies including Boeing, Schlumberger, United Parcel Service, Goldman Sachs, Starbucks, and Nike just to name a few.
  • The gap between the S&P 500 technology sector and the S&P 500 energy sector is the widest since 2001, a level we do not see as sustainable. 

 Qatar1

Larry Light of CBS MONEYWATCH quotes Jim Brilliant on "Why the Qatar crisis isn't rattling oil markets".
Click here to read the Article.

 

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 Fiscal Breaven OPEC

OPEC producers continue to be squeezed by their fiscal breakeven levels, which on average is between $90 and $100 per barrel of Brent Crude. In other words, this is not their breakeven price to produce a barrel of oil. Rather, this is the price per barrel of Brent Crude, in U.S. dollars, these countries need in order to balance their budgets, most of which include large social programs that are very difficult to reduce or cut.

Arnold Van Den Berg on "The Importance of Getting the Worst Case Right" presented at the Ben Graham Centre's 2017 Value Investing conference. 

 

 

The Ben Graham Centre for Value Investing at the Ivey Business School at Western University held this conference on Value Investing on April 19, 2017 in Toronto, Canada.

The mission of the conference is to promote the principles of value investing as pioneered by Benjamin Grahamto share the various value investing methods used by practitioners, and to encourage and support academic research and study in the area of value investing.

Jim Brilliant, CFA® and Scott Van Den Berg, CFP® provide an update on our investments in the energy sector and what we see in the years ahead.  We believe that the case for oil and energy markets is bullish.

CM March 2017 Energy Update from Century Management on Vimeo.

with Jim Brilliant, CFA and Scott Van Den Berg, CFP®

 

Disclosure

Century Management reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs. The information provided in this client update should not be considered a recommendation to purchase or sell any particular security. It should not be assumed that any of the security transactions, holdings or sectors discussed were or will prove to be profitable, or that the investment recommendations or decisions we make in the future will be profitable or will equal the investment performance of the securities discussed herein. Past performance of markets, composites, or any individual securities is no guarantee of future results. The performance of accounts in any Century Management strategy may be materially different at any given time. Differences that may affect investment performance include strategy type, cash flows, inception dates, historical prices, and fees. Positions held within each individual account may not be the same from one account to the next. Individual securities may be traded at different times as well as receive different execution prices. In addition, individual accounts may be pursuing similar objectives, but may have different investment restrictions. Certain statements included herein contain forward-looking statements, comments, beliefs, assumptions, targets and opinions that are based on Century Management’s current expectations, estimates, projections, assumptions, targets and beliefs. Words such as expects, anticipates, believes, estimates, projects, targets and any variations of such words or other similar expressions are intended to identify such forward-looking statements. These statements, beliefs, projections, comments, opinions, assumptions, and targets are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in, or implied by, such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which reflect Century Management’s judgment only as of the date hereof. Century Management disclaims any responsibility to update its views, as well as any of these forward-looking statements to reflect new information, future events or otherwise. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind, including, without limitation, no warranties regarding the accuracy or completeness of the material. Century Management is an independent registered investment adviser. A full description of Century Management’s investment strategies and risks are supplied in our Form ADV Part 2. To receive Form ADV Part 2 or if you have any questions about this report, please contact your client service representative at 1-800-664-4888, write to us at 805 Las Cimas Parkway, Suite 430, Austin, Texas 78746, or email us via our website at www.centman.com. You may find ADV Part 2 at www.centman.com.


Jim Brilliant, CFA and Scott Van Den Berg, CFP® provide an update to Century Management's thoughts on the energy markets.

 

 

Disclosure

Century Management reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs. The information provided in this client update should not be considered a recommendation to purchase or sell any particular security. It should not be assumed that any of the security transactions, holdings or sectors discussed were or will prove to be profitable, or that the investment recommendations or decisions we make in the future will be profitable or will equal the investment performance of the securities discussed herein. Past performance of markets, composites, or any individual securities is no guarantee of future results. The performance of accounts in any Century Management strategy may be materially different at any given time. Differences that may affect investment performance include strategy type, cash flows, inception dates, historical prices, and fees. Positions held within each individual account may not be the same from one account to the next. Individual securities may be traded at different times as well as receive different execution prices. In addition, individual accounts may be pursuing similar objectives, but may have different investment restrictions. Certain statements included herein contain forward-looking statements, comments, beliefs, assumptions, targets and opinions that are based on Century Management’s current expectations, estimates, projections, assumptions, targets and beliefs. Words such as expects, anticipates, believes, estimates, projects, targets and any variations of such words or other similar expressions are intended to identify such forward-looking statements. These statements, beliefs, projections, comments, opinions, assumptions, and targets are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in, or implied by, such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which reflect Century Management’s judgment only as of the date hereof. Century Management disclaims any responsibility to update its views, as well as any of these forward-looking statements to reflect new information, future events or otherwise. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind, including, without limitation, no warranties regarding the accuracy or completeness of the material. Century Management is an independent registered investment adviser. A full description of Century Management’s investment strategies and risks are supplied in our Form ADV Part 2. To receive Form ADV Part 2 or if you have any questions about this report, please contact your client service representative at 1-800-664-4888, write to us at 805 Las Cimas Parkway, Suite 430, Austin, Texas 78746, or email us via our website at www.centman.com. You may find ADV Part 2 at www.centman.com.