Join Michael Cembalest as he explores a wide variety of investment topics, including the economy, policy and markets.
Episodes
Monday Feb 08, 2021
Monday Feb 08, 2021
In this month’s note, we look first at the SPAC capital raising boom. Our main focus: returns to date for SPAC sponsors and investors, and the large wealth transfers taking place among SPAC participants. Second topic: Biden’s early stage energy policies (ban on new oil & gas leases on Federal lands, Keystone XL pipeline termination and conversion of Federal fleet to EVs) will probably end up increasing US oil & gas imports more than they reduce emissions.