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January 24, 2018

Kuppy Sighting…


I will be speaking at the Seraph Global Investment Summit in Austin, Texas from March 5-8. More importantly, it’s an excuse to go to Austin and check out a place that I’ve always wanted to visit. If you want to come along, click this link and sign up. https://seraph.vc/2018-seraph-austin-meet-up/ Ohh… there will also be many other smart people speaking there as well. Kuppy
Categories: Travels
Positions Mentioned: none
November 2, 2017

Fix Hellas


To see part 1, click here To see part 2, click here No economy can recover without a functioning banking system. Greece’s banks have been in chaos for nearly a decade, during which time roughly 45% of all deposits fled overseas, forcing the need for over 120 billion Euros of Emergency Liquidity Assistance (ELA) from the ECB while new loan issuance ground to a ... Read More
Categories: Travels
Positions Mentioned: TPEIR, ALPHA
October 26, 2017

My Big Fat Greek Tax Scam


To see part 1, click here   Sacha Imbert (Portfolio Manager at RBC): Hey Kuppy, this receipt says we’ve just used a Bulgarian POS to pay for lunch!!! Me: Whoa!!! That can’t be right. Waiter: Don’t worry, it’s a famous Greek trick. Revenues go to Bulgaria, expenses stay in Athens. We also get around the exchange controls. Me: Won’t the Greek government get upset? Waiter: Actually, they’re pretty happy ... Read More
Categories: Travels
Positions Mentioned: none
October 25, 2017

Greece: An Ouzo Hangover Of Mythological Proportions


Back in July, I re-posted an article that my good friend, Chris, at Capitalist Exploits had written about Greece. I had found the idea of a Greek economic recovery intriguing, but hadn’t really followed up on it. Over the following weeks, a number of people reached out to me and noted that I really should take a more serious look. In particular, they said that I ... Read More
Categories: Travels
Positions Mentioned: none
October 22, 2017

Kuppy Does Kyrgyzstan…


“No pork tonight because this is a Muslim country, but don’t worry, we’ll drink twice as much vodka to make up for it” Yup, I’m in Kyrgyzstan, checking off another box, on my long-postponed ‘Stan tour. Like all good adventures, this one started over drinks with some new-found friends. Him: You really should go visit our stock exchange Me: Sure, can you make an introduction to ... Read More
Categories: Travels
Positions Mentioned: none
August 27, 2017

Mall Tour 2017 (Part III)


Ever since the first Sears catalog was published in 1888 (the Amazon.com of its day), pundits have called for the death of retail establishments. It’s easy to see why they would think that such a thing was happening—namely stores around them were closing in rapid succession. Of course, these successive waves of retail disruption (the appearance of Woolworth’s, SS Kresge, K-Mart, Wal-Mart, the advent ... Read More
Categories: Travels
Positions Mentioned: none
July 5, 2017

Mall Tour 2017 (Part II)


Malls are bearing the brunt of changes in retail, but they’re only the canary in the coal mine. Let’s start with a simple premise; commercial real estate (CRE) will change more in the next decade than it has in the past hundred years. Anyone who thinks they can fully foresee how it will evolve is lying to you. The only certainty is that highly ... Read More
Categories: Travels
Positions Mentioned: none
June 25, 2017

Mall Tour 2017


For the past few years, most retailers have struggled. Of course, it’s easy to blame Amazon.com, but it is only one of many causes. At the same time, for us hedgies living in major cities with luxury malls, there is confusion about the problem itself—my mall is crowded and people are shopping. After having debated with friends endlessly on what the real root of ... Read More
Categories: Travels
Positions Mentioned:
May 10, 2017

Amazing Tequila (Part II)


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 ... Read More
Categories: Travels
Positions Mentioned: none
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