June 30, 2022
Published by Kuppy at June 30, 2022
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During the great Ponzi Bubble of 2020 and 2021, many devout value investors, went over to the dark side. When cheap stocks refused to revalue, they saw Ponzis ramping and decided to participate. Why did they stray? It’s hard to say. Some simply wanted to make money. Others, feared for their firms if they didn’t play along—redemptions can be vicious. Maybe a few even Read More
Categories: Investments
Positions Mentioned: Ponzi Schemes
June 29, 2022
Published by Kuppy at June 29, 2022
Categories
One of the great mysteries of modern finance is the shape of the crude oil curve. For a summary, it’s in backwardation with the slope levelling off in the mid-$60s during the back half of this decade. Market participants clearly recognize that the spot market is tight, and they are bidding up the front of the curve into a steep backwardation. Why hasn’t the Read More
Categories: Investments
Positions Mentioned: Oil
May 26, 2022
Published by Kuppy at May 26, 2022
Categories
Part 1 is here. Let’s try a thought experiment here. Fast forward into winter. The Fed has been on autopilot and has continued to raise rates. They’ve managed to crush risk assets and the “negative wealth effect” is rapidly filtering through to the consumer economy. All the guys trading meme stonks and monkey JPEGs have now returned to their prior jobs and the supply Read More
Categories: Comments On Events
Positions Mentioned:
May 16, 2022
Published by Kuppy at May 16, 2022
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The Fed is fuct. They know it. We know it. They know we know it. They intend to continue the charade anyway. Despite centuries of study, no one really knows what causes inflation. While it tends to show up during periods with excessive money printing and large fiscal deficits, sometimes such periods have not witnessed inflation. No one knows why it shows up when Read More
Categories: Comments On Events
Positions Mentioned:
Volcker and Inflation…