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August 13, 2019

The Year Is 2030…


The year is 2030 and the S&P just broke the 1 million level following an algo-induced short squeeze after Trump tweets, “President Ivanka headed to China to negotiate an even better deal for USA. Chinese seriously intimidated because she’s hot.” It has now been 12 years, a trade deal is nowhere in sight and despite a global economic collapse, the market still rallies 2% ... Read More
Categories: Comments On Events
Positions Mentioned:
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
March 25, 2019

Why The Fed Should Not Stop Raising Rates


A very smart and wealthy friend always reminds me that you have to invest in the market landscape that exists today—not the one you wish for. That said, I like to think of myself as a pragmatist who views the capital markets through the lens of financial history. That history would imply that the Fed should keep hiking rates and ignore the yield curve. ... Read More
Categories: Comments On Events
Positions Mentioned:
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:
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