Kuppy's Korner

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The Federal Reserve has been attacking inflation. The problem is that after printing trillions of dollars, they’re ill-equipped to succeed at their task. Partly, this is because all that cash...
Investors like to focus on QE and QT, because of the belief that the quantity of money has an immediate effect on risk assets. In the same way, we like...
I have frequently described “Project Zimbabwe” as a highly inflationary cycle where both fiscal and monetary stimulus go into insanity mode. While I sincerely hope we don’t go hyperinflationary like...
For my entire career, Paul Volcker has been deified. In fact, I cannot think of an unelected government official, since the Generals of WW2, who is held in such esteem—which...
Let’s try a thought experiment here. Fast forward into winter. The Fed has been on autopilot and has continued to raise rates. They’ve managed to crush risk assets and the...
The Fed is fuct. I think they know it. We all know it. And it’s likely they know that we know it. They intend to continue the charade anyway. Despite...
It is said that generals always fight the last war. I believe investors do the same, but with a greater sense of PTSD, combined with self-assurance. Often, investors cluster in...
For over thirty years, excluding a few brief spikes, copper traded in a range between $0.60 and $1.00 a pound. In many ways, that range became self-fulfilling as an entire...
I’m often reminded of how Mark Twain was rather prescient in regards to markets. Let’s reminisce a bit, back to a simpler time, when an obscure entity named Grayscale Bitcoin...
People really like to complicate things. They worry about non-problems. They over-trade. They over-think. They ignore the obvious. I believe this investing game is actually quite simple—buy unusually cheap companies...
I’ve been pretty clear on why I think oil is going higher. I’ve also been clear that when oil overshoots, I think it’s going to create the next Lehman moment. Oil...
In a few short hours, we’re headed back into the trenches. No sleep for us weary hedgies. They’ve re-set the performance clock at zero and we’ve got to fight our...
I believe the vast majority of publicly traded securities are roughly fairly valued. Sure, there may be a 30% or even 50% variance to fair value, but that’s mostly encapsulated...
Last summer, I recognized an odd phenomenon. An obscure entity named Grayscale Bitcoin Trust (GBTC – USA) was slowly cornering the free float in Bitcoin. This was a result of...
I have spent a lot of time on this site speaking about “Project Zimbabwe”  as this period is so poorly understood and if you get it wrong, I think you’ll get annihilated....
Harris “Kuppy” Kupperman sits down with Mike Alkin, CIO and Founder of Sachem Cove Partners from the floor of the 2023 World Nuclear Association (WNA)...
The Big Short has become a cult classic movie amongst finance guys. Of course, we all know how the story ends, so there’s no suspense....
Warren Buffett famously told investors that if they wanted to prosper during periods of inflation, then they needed to buy companies with high returns on...
Emerging Markets (EMs) are highly fragile. This is due to the fact that usually when there’s a recession, capital flees, the currency melts, inflation increases...
As the owner of a hedge fund business (defined as a management company and incentive fees received though an affiliated entity), I’m always amazed at...
In my prior article about breakouts, I missed out on a chance to speak about the recent change in market structure, and what it means...

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