24 results found for: project zimbabwe

(In)Stability…

This weekend, I watched in baffled amazement as our President and his entire administration went on vacation, abandoning tens of thousands of Americans, along with allied citizens, to their fate in Afghanistan. America has done some embarrassingly dumb things during my lifetime, but this one displayed a special sort of arrogance and incompetence that can only develop through years of hubris, gross negligence, and Read More

On Staying Liquid…

Investing is a game of keeping powder dry and waiting for layups. So many investors miss this lesson. They stay fully invested in middling situations for various reasons—often mental. Who cares if it is at 90% of fair value?? Recycle your capital. Why are you in a business with deteriorating numbers?? Recycle your capital. So what if it’s cheap, there’s no catalyst?? Recycle your Read More

When The Levee Breaks…

If it keeps on rainin’, levee’s goin’ to break If it keeps on rainin’, levee’s goin’ to break When the levee breaks, I’ll have no place to stay. Mean old levee taught me to weep and moan, Lord Mean old levee taught me to weep and moan It’s got what it takes to make a mountain man leave his home Oh well, oh well, Read More

Gas Stimmys…

A few weeks back, I had dinner with a close friend. Naturally, our conversation turned to the markets. Friend: Kuppy, you need to be careful with those 2025 oil calls. If oil spikes to $200 in 2023, it’s going to take the global economy down with it. You could end up timing it wrong by going out that far in duration. Me: Haha. You’re Read More

2021 Position Review

A surprising number of investors seem to have blogs these days. Once a year, we circle back and see who got it right. Besides, what’s the point of doing this publicly if we’re not keeping score? (Prior position reviews 2020, 2019, 2018) Let me start by saying that 2021 was a monster year for me, coming on the back of an equally massive 2020. Read More

The Fed Is Fuct…

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