Kuppy's Korner
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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...
Over the past few years, I’ve been highly critical of the Ponzi Sector. This is what I call a whole grouping of companies that has no ability or apparent desire...
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...
For four decades, the US stock market has traded up and to the right. During those brief moments of setback, treasuries usually rallied strongly. The fact that these two asset...
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...
If you’ve spent any amount of time on Twitter, you’ve likely come across the hypothesis that AI will bring an extinction level cataclysm for white collar workers. Instead of having...
Every time tech has one of its periodic moonshots, the same email shows up in my inbox from one of my investors. Some version of: “Kuppy, why don’t we own...
Last month, I chose to strip away all the hubris around AI and ask one simple question, one that oddly no one had really bothered to ask; how much revenue...
I’ve been at this investing game a long time. Long enough to see cycles repeat themselves, cycles that I literally thought I would never again see. Yet in finance, everything...
The Fed Is Fuct (Part 2)…