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August 12, 2019

Altisource


A few weeks back, I wrote about “long-shorts.” These are companies that see their businesses improve when the overall economy deteriorates. I’m increasingly convinced that we’re about to see a real doozy of a recession here in America. It will likely be exaggerated by whatever happens in Asia. While shorting gets all the attention, I would much rather own businesses that do well when ... Read More
Categories: Investments
Positions Mentioned: ASPS
August 5, 2019

If He’s Tweeting It…


About a year ago, I was watching Real Vision (highly recommend subscribing if you aren’t already subscribed) and saw an interview with Kyle Bass where he made a very prescient observation. Eventually, President Trump will discover that the President has the power to wield tariffs against any country as he wishes. Then all hell will break loose. It really was one of those “aha ... Read More
Categories: Investments
Positions Mentioned: DXY
July 15, 2019

These Shareholders Must All Be Stoned…


I have watched the publicly traded Canadian cannabis sector in stunned awe for the past few years. I really cannot think of a worse place to be invested. You have the basic economics of growing celery, with all the government regulation of an HMO, complete with the regulatory risk of manufacturing pharmaceuticals, with a two-tier system of legal and illegal producers—where legal prices are ... Read More
Categories: Investments
Positions Mentioned: MJ
July 8, 2019

Prime Minister Mitsotakis Goes On His Honeymoon…


Much as I predicted 6 weeks ago, New Democracy won by a landslide. In fact, their majority is larger than expected and they can now form a government without a coalition. Additionally, the Nazi party has lost all seats in Parliament (usually a good thing for fund flows). As I write this, my position in the Greek ETF (GREK – USA) is up 14% ... Read More
Categories: Investments
Positions Mentioned: GREK
July 1, 2019

Clean-Up Print In The Russell…


“Yo Kuppy!! I’ve been working this order for 5 million shares for the past two months, I have 400k left. Gonna print em in the hole ‘cause it’s end of quarter and seller needs out. I’m taking 300 for the house account. You want the rest? “Hell yea!! Take 25 cents a share on that!!” Did it matter what I was buying? Not really, ... Read More
Categories: Investments
Positions Mentioned:
June 25, 2019

Giga-Roll


Given the amount of time I’ve spent talking about Tesla (TSLAQ – USA) on this site, I’d be remiss if I didn’t point out that I materially changed my position over the past few days. Back in October of 2018, I felt that shorts were pressing their bets a bit too hard and noted that, “…All evidence seems to show that they’ve used every ... Read More
Categories: Investments
Positions Mentioned: TSLAQ
June 7, 2019

CAD Is “Breaking Out”…


I don’t talk much about currencies on this site, but that doesn’t mean I don’t “play” them. As an equity market participant, I have to figure out which currencies I want my accounts denominated in. The mere fact that your account is denominated in USD on day 1, is the tacit admission that you have a structural view on USD. For this reason, I ... Read More
Categories: Investments
Positions Mentioned: CAD
June 3, 2019

EUR Makes A 2nd Triangle…


Back in January, I wrote that I was short the US Dollar against a basket of currencies. The basic logic was that we were witnessing all sorts of bullish US Dollar events, yet the dollar was acting tired. I know, it’s not the most intellectually pure reason to take a position, but I’ve often found that when good news doesn’t lead to the expected ... Read More
Categories: Investments
Positions Mentioned: EUR
May 29, 2019

Time To Buy Greece???


In the fall of 2017, I spent 2 wonderful weeks in Greece (Part 1, Part 2, Part 3). I ate great food, drank a bit too much ouzo and saw some wonderful historic sites. I also had a bunch of Greek bankers lie to me about their loan books. It was the full macro-tourist experience and I would highly recommend it to anyone interested ... Read More
Categories: Investments
Positions Mentioned: GREK
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