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$660M in a Day

The price of a barrel of oil is always a popular talking point for financial news. Since we all need gasoline, gas prices are a hot topic too – and you get gas from oil. 🙂

Do you remember when the price of a barrel of oil went negative? It was in April 2020, when a mix of factors pushed the price of oil down. Jack Raines of Young Money (great newsletter btw, you should subscribe) breaks it all down and how a group of guys in England made $660 million off it. Wild stuff with a great explanation every step of the way.

$660M in a Day: The Big Oil Short [Young Money] – “But the most insane market moment in the pandemic era wasn’t a meme stock, cryptocurrency, or SPAC. It was sweet, sweet crude oil. Before GameStop started, DogeCoin barked, and Trump tried to make SPACs great again, the oil market experienced the unthinkable: On April 20th, 2020, oil hit -$40 per barrel.” Black swans are more common than you think!

How to Choose Your College Degree [giansegato] – “As you start thinking about what to major in, start pondering this very scary question: what professional area do you want to get in? I know it’s hard to even process. But you must start dipping your toes in the water if you wish to make an informed decision. Leave your subject-based thinking behind. There’s no Computer Science: there’s web development. There’s no Economics and Finance: there’s trading behind a monitor until later hours. There’s no Psychology: there’s fundraising during fancy dinners with people you may or may not personally like. There’s no Pharmacology: there’s selling vitamins behind a counter to the elderly.”

We finished watching The Bear on Hulu and really enjoyed it – you should check it out if you like to get stressed out watching a show. 🙂

When I Watch The Bear, I See My Life [Esquire] – “And then he stares at the camera with sad blue eyes and says something unexpected. “I felt like I could speak through the food, communicate through creativity… The deeper into this I went and the better I got, and the more people I cut out, the quieter my life got. And the routine of the kitchen was so consistent and exacting and busy and hard and alive and I lost track of time and he died.” I stopped and rewound and watched it again. And again. This was my life. My everything.”