The last few months have been exceptionally hectic, and I have not been able to publish anything here for my readers as regular as I would like. I will try in the near future to write something about China, whose situation has not changed at all over the last year – actually, if you have been following our analysis on China over the last couple of years, you would arrive to the conclusion that the situation has actually worsened, given higher leverage levels.
But in the meantime, I have just published an article in Seeking Alpha about the investment opportunity in California Resources Corporation (CRC:US), an oil&gas company whose assets are in California. Because of a new reading policy in Seeking Alpha, the article will be available for free during the next couple of weeks and after that it will be protected behind a firewall. Overall, and given my bullish outlook for oil prices for the next 12 months (which I discussed here and that it is of course very bad news for the health of the global economy), the investment opportunity in CRC looks very attractive, both in equity and (2nd lien) bonds.
The article can be read here.