What If We Run It Hot…?
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 third were finally getting wage increases for the first time in decades?? Was he upset that cattle ranchers were earning an acceptable return after years […]
The .1% Refugee Crisis Webinar Replay
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 2-hour sweeping discussion and Q&A about the causes of HNW migration and their thoughts on how to benefit from this trend. Originally filmed on August […]
The Culling
I’m known as a hyper-concentrated investor. I take my best ideas, bet them big, and ignore the volatility along the way. While it’s usually my top 5 or so positions that effectively determine my performance results for the year, I also tend to have lots of other positions on the books. These enter the books […]
Argentina Update
It is said that Argentina has an economic crisis roughly every decade, and it seems to last for approximately ten years… In a previous posting, I noted that the upcoming Presidential election could upset that tradition. Both Milei and Bullrich represented very different and uniquely positive paths for Argentina. As a result, I was long […]
Argentina…
This post originally appeared in KEDM on June 4, 2023… “We originally spoke about Argentina back in October of 2021 and said to put it on your radar. We think the time has now come to load up. Let’s start with the obligatory note that we love Argentina; friendly people, beautiful countryside, great wine. We’ve […]
On Staying Liquid…
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 mental. Who cares if it is at 90% of fair value?? Recycle your capital. Why are you in a business with deteriorating numbers?? Recycle your […]
On Getting Stolen From…
On Getting Stolen From… [This post was originally published January 15, 2021. The AT transaction closed in 2021. The author’s positions and the market situation described here are historical.] Last night, a buddy texted me. (I’m going to paraphrase a bit as this is a family site) FRIEND: Kuppy, you won’t believe what those a**holes did!! […]
It’s JOEtime!!!
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 estate on the Florida Panhandle. My thesis was that the stock was trading at $18 and the land was worth a few times that figure. […]
These Shareholders Must All Be Stoned…
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 the basic economics of growing celery, with all the government regulation of an HMO, complete with the regulatory risk of manufacturing pharmaceuticals, with a two-tier […]
