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
September 14, 2017

Sold My NZME


Back in February, I wrote about NZME LTD (NZM – Australia), the dominant and highly undervalued media group in New Zealand. At the time, I said that “results will probably range between meh and bleh…,” which is what first half 2017 results showed—declining revenue and stable EBIT. While the stock is certainly cheap at about five times cash flow and an 11.5% dividend yield, NZM ... Read More
Categories: Investments
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
August 13, 2017

Cheaper & Less Risky…


Part of what makes the stock market so lucrative, is that it often responds in unexpected ways to new data—offering outsized profits to those that take advantage of these opportunities. Take the curious case of Aimia Inc (AIM – Canada) which I wrote about previously. The bear argument at the time, was that the Aeroplan business was permanently impaired by the pending termination of a partnership ... Read More
Categories: Investments
Positions Mentioned: AIM CN
August 3, 2017

That Was SNAPtacular…


Less than a month ago, I warned of SNAPageddon in SNAP Inc. (SNAP – USA) as venture capital shares unlocked and were dumped on the market. Shares of SNAP have now declined by approximately 30% since then—hence my puts increased in value by a few hundred percent. While I expect earnings next week to be abysmal, followed by more share unlocks, I’m cognizant of not being ... Read More
Categories: Investments
Positions Mentioned: None
Scroll Up