Kuppy's Korner

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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...
Roughly a month ago on the afternoon of Sunday, March 8th, Fed Chairman Powell had an (fictional) emergency staff meeting. Powell: I want the nuttiest money printing plan ever. What action...
Originally published March 23, 2020 It’s said that you want to buy when others are fearful. It sure seems that investors are currently losing their minds. Look, I get it,...
Two months ago, something rather monumental happened, which seems to have been lost to the news-cycle. In a world starved for yield, a company with trailing twelve-month free cash flow...
I have watched the publicly traded Canadian cannabis sector in stunned awe for the past few years. I really cannot think of a worse place to be invested. You have...
Friend: Kuppy, stop the car!! Me: Uggh, again? Friend: Let’s get out. Me: We have 177,000 acres to visit. We can’t stop at every damn acre. Friend: Yeah, but not...
Over the years, I’ve read hundreds and hundreds of great books. Clearly, I cannot recommend them all. The following is a short selection of the better books on investing and...
Should we be positioned for Feudalism?? Not as a joke, but as the only mental model that explains why the macro world acts the way it does right now. Should...
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...
I like to think of myself as an aggressive investor. I rarely hedge, and I rarely take my net exposure down below 100. More ideas than capital is how I...
Liberation Day became Liquidation Day. I’ve noted a few times now, that MAGA is decidedly not bullish US equity prices. In fact, in my year-end posting, I mentioned that for...
Emerging Market governments are highly attuned to changes in their bond markets. This is because they risk getting cut off from funding at any sign of stress. Often-times, Emerging Market...

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Nothing in this article, podcast or communication (collectively, referred to as the “Communication”) should be construed as investment advice of any kind. This Communication is not a recommendation, or an offer to sell, or a solicitation of any offer to buy, an interest in any security or derivative instrument, including an interest in any investment vehicle managed or advised by Praetorian PR LLC and affiliates (together “Praetorian”). Consult your financial adviser before making any investment decisions.

Unless noted otherwise, the information presented by Praetorian within the contents of Communication, represent opinions of Harris Kupperman or Praetorian and no representation is made with respect to the accuracy, completeness or timeliness of information, and Praetorian assumes no obligation to update or revise such information. As such, the opinions may not be complete, are subject to change, and are provided for informational purposes only. Additionally, certain information may be based on third party sources and, although believed to be reliable, has not been independently verified and Praetorian is not responsible for third-party errors.

The views expressed in the Communication may include forward-looking statements as of the original date of the publication which may be identified by, among other things, the use of words such as “expects,” “anticipates,” “believes,” or “estimates,” or these terms’ negatives, and similar expressions. Forward-looking statements reflect Praetorian’s opinions as of such date with respect to possible future events. Actual results could differ materially from those in the forward-looking statements. No party has an obligation to update any of the forward-looking statements in this document. Investors are cautioned not to place undue reliance on such statements.