Kuppy's Korner
If you’d like to subscribe to Kuppy’s Korner, please enter your email
A few weeks back, I had dinner with a close friend. Naturally, our conversation turned to the markets (paraphrased). Friend: Kuppy, you need to be careful with those 2025 oil calls....
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...
A few years back, I was in NYC for meetings. All of a sudden, it started to pour, absolutely Miami style rain. Miraculously, an umbrella vendor popped out of nowhere...
Ever since I can remember, billionaires have been taking private jets to conclaves where they strategized on how to reduce other people’s carbon emissions. At the time, I thought little...
If it keeps on rainin’, levee’s goin’ to breakIf it keeps on rainin’, levee’s goin’ to breakWhen the levee breaks, I’ll have no place to stay. Mean old levee taught...
I believe investing is a game of keeping powder dry and waiting for layups. So many investors miss this lesson. They stay fully invested in middling situations for various reasons—often...
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...
For most of my career, oil demand has grown each year and supply has roughly kept up. Sure, it’s overshot in both directions. We’ve seen shortages and we’ve seen gluts....
At the depths of the COVID crash, I began writing extensively about the equity market ramifications of unlimited fiscal and monetary stimulus. To start with, I believed it was obvious that...
Ever since GameStop (GME – USA) pulled off a Melvinator, I have had various short vol GME option trades on. Often, this was some combination of deep out of the...
I have a friend who’s a reasonably competent trader. He’s the type who draws his voodoo lines everywhere on the charts. He caught the trendline break on Bitcoin around $9,200. He...
View from JOE’s WaterColor Inn Back in June of 2018, I wrote an initial piece on St. Joe (JOE – USA), owner of approximately 175,000 undeveloped acres along with assorted commercial real...
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....
Let’s set some ground rules here. As far as I’m concerned, Bitcoin is a Ponzi Scheme. If you think Bitcoin is the future of money, a store of value or...
I’m an absolute return investor. I recognize that benchmarks exist, but I also largely ignore them, as I don’t expect my returns to be particularly correlated with any of them....
I started following financial markets during the Asian Financial Crisis. I remember the Fed stepping in as LTCM detonated, and I instantly understood the moral hazard of saving financial institutions...
In the spring of 2022, Jerome Powell declared war on inflation. With the benefit of hindsight, let’s question what exactly he declared war on? Was he upset that the bottom...
Friends, Back in March, I wrote a piece about looking for deep value opportunities, driven by changes in market structure. At the time, I noted that pod shops were creating...
I’m writing to you from Zurich, after attending the World Nuclear Association (WNA) meeting a few days ago in London. Last year, the meeting took place in the context of...
Borders are open and freedoms are eroding. Taxes are increasing to fund the nanny state. Those with capital are fleeing… Kuppy and global investor Swen Lorenz team up for a...
Will Risk Parity Blow Up…???