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July 16, 2020

Did The Market Actually Recover From COVID-19…???


Here’s the head-scratcher; -On one side, we have wave 2 of COVID-19, complete with new restrictions in multiple counties and states. Roughly 30 million people are out of work. Thousands of businesses are failing each week due to government COVID-19 mandates. Rent and mortgage payments are increasingly delinquent and all of this is before the fiscal stimulus tapers off. -On the other side, the ... Read More
Categories: Comments On Events
Positions Mentioned:
July 13, 2020

You’re Probably Gonna Get It…


At this site, I’ve never shied away from unpopular truths—in fact, I think that shining light upon them is vital to logical thought and solid investment returns. With that out of the way, I’m going to dive into the klusterfukety global government response to COVID-19. Oddly, despite science being fact-based, each country charted its own path—showing that the pandemic itself is a political adventure ... Read More
Categories: Comments On Events
Positions Mentioned:
June 14, 2020

MMT Going Mainstream…


My good friend Kevin Muir from Macro Tourist (I highly recommend that you subscribe) has been banging on about Modern Monetary Theory (MMT) for ages. I’ll admit, some of his pieces have been difficult to read as I’m firmly planted in the Austrian school—I believe gold is money and everything else is fiat. I believe governments create inefficiency and corruption while politicizing common sense ... Read More
Categories: Comments On Events
Positions Mentioned:
June 1, 2020

The Other Florida…


Until about a year ago, I had visited more of Central Asia than the cities in my state 50 miles north of me. I just assumed that “God’s waiting room,” extended from Ft. Lauderdale north to the Georgia border.  I’m always one to challenge preconceived notions and starting last year, I’ve made a point of thoroughly exploring my state of 16 years now. To ... Read More
Categories: Comments On Events
Positions Mentioned: TWTR
May 24, 2020

Post-COVID Capitalism…


I have now run a few companies. Over time, I have experienced a repeated epiphany; which is that you never realize which employees are useless until they go on a vacation and nothing bad happens. Now, this isn’t a dig at good employees; good ones find ways to delegate their responsibilities and still check their emails—great ones work harder while on vacation. However, the ... Read More
Categories: Comments On Events
Positions Mentioned:
May 19, 2020

No One Knows What Comes Next…


I’m writing this to you as a Miami Beach refugee hiding out on the Florida Panhandle, where they actually let you set foot on the beach; masks are optional and restaurants are open. It’s like I’ve gone back in time to February. Besides, you wouldn’t believe the deal I got on a beach-house during COVID. I also know that I needed to escape my ... Read More
Categories: Comments On Events
Positions Mentioned: Gold
April 21, 2020

It’s Getting Strange Out There…


I’m one of those guys who’s always believed that certain truths are sacrosanct. Interest rates would always stay positive, commodities would always be worth something and the US government would pretend to care about the deficit. Over the past few years, I feel like the hedgie who’s learned that the Easter Bunny doesn’t really exist. Honestly, a lot of what I accepted as being ... Read More
Categories: Comments On Events
Positions Mentioned:
April 20, 2020

Investing In The Age Of COVID…


Four weeks ago, the stock market was in free-fall and I made the point that “if you aren’t buying stock down here, you’re simply doing it all wrong.” I fortuitously published it on the day that the market bottomed. Looking back at my call to “buy stuff,” the Fed did exactly what I expected by unleashing an alphabet-soup of acronym programs—forcing people to buy ... Read More
Categories: Comments On Events
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April 9, 2020

Balance Sheet Evolution…


Last week, we got news that Carnival (CCL – USA) became the first of many large corporations to aggressively dilute shareholders after a decade of reckless financial engineering. Before discussing this malfeasance of capital structure management, let’s rewind three decades. Excluding brief periods of exuberance at the end of the 1920s and 1960s most public companies historically were staid organizations—they grew a few percent ... Read More
Categories: Comments On Events
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