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January 24, 2019

The European (Dis)Union


Over the years, my good friends at Capitalist Exploits (I highly recommend subscribing) have put together a number of outstanding thought pieces on where they see things headed. They recently came out with a great overview of where Europe is headed. The trends they highlight are both interesting and actionable for those willing to put the time into thinking through the consequences of the new ... Read More
Categories: Comments On Events
Positions Mentioned: EUR
January 22, 2019

The View From ICR


Over the years, I’ve spent less time talking to CEO and more time learning about industries. Let’s face it CEOs lie (compulsively). They only tell you the good news—or what they think you want to hear. If I have a strategy question, maybe I’ll let them humor me for 20 minutes about their 5-year plan. However, if I want to really learn something, I ... Read More
Categories: Comments On Events
Positions Mentioned:
January 3, 2019

The Profitless Prosperity Sector Will Collapse…


Near the culmination of all great stock market bubbles, at least one of that cycle’s supposed luminaries suffers an epic collapse because of fraud. As a result, fresh capital is restricted from that sector when it is needed most, leading to further crisis and a winnowing out of the sector as competitors cannot raise additional capital. Remember; suckers are always willing to finance bad ... Read More
Categories: Comments On Events
Positions Mentioned: TSLA
December 20, 2018

The Hedge Fund Manager’s Dilemma…


My most recent article has generated an unusual quantity of feedback from friends in the hedge fund industry, so I thought I’d expand upon it and address this article to all my hedge fund brethren. As you are well aware, despite outwards appearances, most of us struggle internally with the duality of our desire to produce long-term, risk-adjusted absolute returns vs. the business reality ... Read More
Categories: Comments On Events
Positions Mentioned:
December 16, 2018

Hedge Fund Armageddon


Like all industries, the hedge fund industry is highly cyclical. 2018 is proving to be a catastrophe for many of my fund brethren. Let’s face it; most hedge funds have produced pretty awful returns for the past few years—a time when the S&P (the global benchmark) has shot the lights out. There’s an obvious reason for this underperformance and it comes down to the ... Read More
Categories: Comments On Events
Positions Mentioned: TSLA
September 14, 2018

Terlingua


Last Tuesday, I was in Southwest Texas, at the Terlingua ghost town; created by a mercury mining boom in the early 1900’s. On the wall of the only remaining store in town, I saw this sign and had a good chuckle. Despite a century of human progress, nothing much has changed in how promoters entice suckers into their financial schemes. “Buy now, before some ... Read More
Categories: Comments On Events
Positions Mentioned:
February 22, 2018

Bubbles Everywhere…


About a year ago, I read The Great Beanie Baby Bubble by Zac Bissonnette. It details how basic human greed, an artificial sense of scarcity and newly created technology like eBay, were used to artificially inflate re-sale prices and convince otherwise intelligent humans to sink their life savings into plush toys that were being created by the millions at a price-point measured in the ... Read More
Categories: Comments On Events
Positions Mentioned: None
March 26, 2017

Believe In America (Part IV)


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 ... Read More
Categories: Comments On Events
Positions Mentioned:
January 23, 2017

Recent Interview


I was recently interviewed by Chris Lowe at Bonner & Partners about my views on the market. Please click here to read it. Categories: Comments On Events Positions Mentioned: none To receive email updates on new posts, use the subscribe feature (on the right column of each page of the website.)
Categories: Comments On Events
Positions Mentioned:
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