May 13, 2019

We’re Gonna Need More Bag-holders…

I have been highly critical of the Profitless Prosperity Sector (a.k.a the Ponzi Sector). The sector consists of companies that are effectively Ponzi Schemes; in that they have accelerating losses but show blistering growth rates in order to attract new capital. This all worked fine when companies kept their free floats small enough to be manipulated like Tesla (TSLA – USA) or stayed private ... Read More
Categories: Investments
Positions Mentioned: TSLA
May 3, 2019

Cyprus Part 2

For Part 1, click here After 5 days, a few hundred miles of driving, a few dozen kebobs and some fascinating meetings; I got a feel for Cyprus. While the rest of the Eurozone’s economy is stillborn, Cyprus is actually recovering. Foreign investment, often related to buying “Golden Visas” is going into the property sector. Cranes that have been stalled for years are coming ... Read More
Categories: Travels
Positions Mentioned: BOCH LN
May 1, 2019

Berkshire Hathaway 2019

While I may have called it the “Woodstock of Crony Capitalism,” I have never ceased to be mesmerized by the Berkshire Hathaway (BRK – USA) annual meeting. Like a fly to poo, I continue to be drawn to it, even though I already know the well-worn routine; -40,000 self-assessed contrarians descend on Omaha, Nebraska to be told to buy good companies at a fair ... Read More
Categories: General
Positions Mentioned: BRK
April 12, 2019

Kuppy Speaks With Market Huddle

Last Friday, I chatted with my good friends at The Market Huddle (click to listen). My only regret is that the audio quality made me sound as if I were in a submarine, when in reality it was just the internet in Limassol, Cyprus. We discussed product tankers, Sandridge and the markets in general.
Categories: Comments On Events
Positions Mentioned: STNG, SD
April 5, 2019

Cyprus Part 1

I’m writing to you from the beach in Larnaca, Cyprus. It’s 6am and I’m jetlagged, hopped up on coffee and ready to get exploring. Why Cyprus? Next week, I’m speaking at the annual VALUEx Caspian conference in Baku, Azerbaijan, hosted by my good friend Isaac Schwartz of Robotti & Company Advisors To break up the flights, I stared at a map and Cyprus ... Read More
Categories: Investments
Positions Mentioned:
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