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 13, 2019

Scorpio Tankers


Increased government regulation is a fact of life—particularly in the shipping sector. As a shipping investor, this tends to be good news; as disruption usually upsets existing trade patterns and leads to an increase in charter rates. I learned the benefit of this nearly two decades ago, when single-hull crude carriers were phased out following the Exxon Valdez accident. The resulting shortage of new ... Read More
Categories: Investments
Positions Mentioned: STNG
January 4, 2019

King Dollar?


From time to time, the investment world takes something as accepted wisdom and just runs with it. For whatever reason, investors seem convinced that the US Dollar is destined to go higher. I’ve heard lots of smart opinions why; interest rate differentials, GDP growth rate differentials, “The Dollar Milkshake Theory,” “Prettiest Body in the Morgue” and the “Fear Trade.” Over the past two years, ... Read More
Categories: Investments
Positions Mentioned: DXY
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
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