Amazing Tequila (Part II)

May 10, 2017 7:57 PM


I tend to travel a lot. No matter where I am, I try the local beer. If I like it, I often seek out the local brewer. You’d be amazed at how often you can get a brewery tour—at pretty much any hour of the day—any day of the week. If the owner or head brewer is proud of what he’s producing, he’s going to want to show it off and then share plenty of it with you afterwards. Apparently, the same rules apply with Tequila and my new friend Guillermo Erickson Sauza, from Fortaleza Tequila was more ... more

Categories: Travels
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Amazing Tequila (Part I)

May 8, 2017 11:48 PM


For most of my life, tequila was something I gagged on at 4am, because some asshole thought it would be “fun to do shots.” Yet, throughout my many recent trips to Mexico, I experienced faint hints of what quality tequila tasted like. I quickly learned to avoid the mass produced commercial product out there and instead sampled small batch brands—often led forward by those who claimed to be experts in the craft. I liked what I tried, but I knew that nothing would do justice except a proper educati... more

Categories: Travels
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Reinventing The Death Spiral

April 9, 2017 11:47 PM


About two decades ago, some unscrupulous hedge funds began tricking unsophisticated small cap companies into agreeing to “death spiral” converts (convertible debt). These were called “death spirals” as there was no set floor to the conversion price. Rather, they converted at some date in the future based on then market prices. Despite promising not to, these funds immediately began shorting shares with the goal of destroying the share price and converting as low as possible in order to take cont... more

Categories: Current Investments
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Believe In America (Part IV)

March 26, 2017 6:52 PM


Almost 5 months ago, Trump won the presidential race. At the time, I said Trump would herald dramatic change in how the government worked and served the American people. Along the way, regulations and taxes would be reduced and business would boom. Part of what made Trump so unique was that he wasn’t part of the Washington establishment. He couldn’t be controlled by special interests and he didn’t care about what people thought of him. Instead, he was a rich jerk who intended to bully and antago... more

Categories: Comments On Events
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Hasta Luego Mexican REITs

March 9, 2017 1:27 AM


Him: I think people are wrong. There are lots of instances where the Fed has raised rates and nothing bad has happened.Me: Name one time.Him: hmmm…. Oh crap!!Yea, we’re getting to that moment where people realize that rates may finally matter in a highly leveraged economy. My good friend Tal, made that point over a year ago.  I hope you took his warning and lightened up on interest rate sensitive assets.Let’s think of a typical REIT called Ponzi REIT (Ticker symbol PREIT). They’ve been out there... more

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