P.S. I’ve found one surprise energy pick that I think is going to be absolutely critical over the next year.

Click here to get the full details.

COACH’S CORNER

Cheers,
Chris Hood

WORD ON THE STREET 

WMT Done in PDX, Trump Wins At CPAC, ANOTHER Train Derails

• Theft In City Of Roses Means No More Walmart – Walmart (WMT) locations at Hayden Meadows and East Port Plaza in Portland are closing for good on March 24 – and some suspect theft is why. Walmart CEO Doug McMillion recently said that “theft is an issue” and that it was “higher than what it has historically been.” Though WMT didn’t specifically cite crime as a reason for why its Portland locations have closed, other retailers have, including Rains PDX, Nike, and Cracker Barrel.

• Norfolk Southern Train Derails – Just about a month after the disastrous derailment of a Norfolk Southern train in East Palestine, Ohio, another NSC train has derailed. Once again, it happened in Ohio, with about 20 cars of a 212-car train derailing near Springfield. “No hazardous materials are involved and there have been no reported injuries,” claimed the company.

• “I Am Your Retribution” – Former president Donald Trump cruised to victory at the influential Conservative Political Action Conference (CPAC) straw poll, defeating second-place finisher Ron DeSantis of Florida 62% to 20%. Trump vowed vengeance on the “Deep State” and promised conservatives a take-no-prisoners campaign in his de facto victory speech. “I am your warrior,” he said. “I am your justice. And for those who have been wronged and betrayed – I am your retribution.”

• Arm Ltd. Pursuing $8 Billion In IPO – As the United States seeks to lock out China from advanced semiconductor chips and chipmaking, a major chipmaker is about to stake its claim in the stock market. Arm Ltd, a British chipmaker owned by SoftBank Group Corp. of Japan, is looking for an IPO in the United States. The goal is to raise about $8 billion off an anticipated $50 billion valuation.

HOT SPOTS: What’s Going on in Geopolitics

• China Provides Massive Boost To Military – The People’s Republic of China is increasing military spending by 7.2% in 2023, marking a departure from the PRC’s focus on domestic growth. Premier Li Keqiang said the armed forces “should work to carry out military operations, boost combat preparedness, and enhance military capabilities.” American intelligence is reportedly worried about a Chinese pivot towards Russia, with some claiming that China is considering providing direct military aid.

• Chechen Leader Possibly Poisoned – Chechen President Ramzan Kadyrov is reportedly gravely ill with kidney disease. He has sent for a doctor from the United Arab Emirates, reportedly distrusting doctors from Moscow. Some suspect poison. Kadyrov is a critical Vladimir Putin ally, ensuring support for the Kremlin in the once restive republic and ensuring a steady slow of reinforcements for the war in Ukraine.

• Russian Prisoners Trap Ukraine’s Army – The high casualties suffered by Russian prisoners enlisted in the penal battalions of the pro-Russian Wagner Corporation may have served a purpose. Ukrainian forces are reportedly being so drained by the effort of fighting relentless small-scale infantry attacks that a potential spring offensive is in danger. Ukraine’s military is trapped defending a shrinking pocket in Bakhmut, a city increasingly surrounded by Russian forces. While Ukraine’s government must be sensitive to high casualties, prisoners in Wagner’s units are shot if they try to retreat.

CUTTING EDGE: What‘s Happening In Tech

• Ukrainian Pilots Train In United States – At least two Ukrainian pilots are training at a military base in Tucson, Arizona, the first of what are expected to be many Ukrainian pilots who will be learning to operate advanced Western warplanes. The F16 has been the focus of the campaign. The U.S. has not formally made the decision to arm Ukraine with F-16s and the Biden Administration says what is happening now is not a formal training program, merely a program that will help determine feasibility.

• Bipartisan Bill To Ban Tiktok – Senator Mark Warner (D-VA), Chair of the Senate Intelligence Committee, is going to submit a bipartisan bill that will provide a framework for banning foreign technology like Tiktok. Senator John Thune (R-SD) will reportedly back the legislation. The House Foreign Affairs Committee has already advanced a bill that would give President Joe Biden the authority to ban TikTok. Every Republican supported the legilsation.

• Musk Planning “Anti-Woke” AI – Elon Musk was a founder of the wildly successful Open AI, but left the company years ago after a reported disagreement over its direction. Now that AI (and Open AI’s ChatGPT) are sweeping corporate America, Musk is looking to get in the game. Musk is reportedly negotiating with AI developer Igor Babuschkin about helping build it. “The goal is to improve the reasoning abilities and the factualness of these language models,” Babuschkin said. “That includes making sure the model’s responses are more trustworthy and reliable.”

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