Crescat’s Tavi Costa points out something remarkable which many may have missed amid the short squeeze and “growth” stock frenzy: oil, that “value” age relic, has had its best YTD performance in 30 years. As Costa puts it ” commodities are leading the way and the inflationary thesis keeps building up ” (incidentally none of this is lost on those long XOM which is not only the most levered – for better or worse – way to bet on rising oil prices but pays a generous 7%+ dividend while waiting for Warren Buffett to announce that he has amassed a 10% stake). Oil. Best YTD performance in 30 years. Stunning how no one is talking about this. Commodities are leading the way and the inflationary thesis keeps building up. pic.twitter.com/SWnX1gdjgV — Otavio (Tavi) Costa (@TaviCosta) February 6, 2021 In any case, those following the reflation theme better pay attention, […]