July 31, 2019


Three months ago, I had the opportunity to speak at Isaac Schwartz’s, annual VALUEx conference, held this year in Baku, the capital of Azerbaijan. Even more fortuitously, I pounded the table on shipping stocks, right before they inflected dramatically higher. (So far, so good). I had meant to write about my experiences in Azerbaijan, but then life happened. However, I’d be negligent if I ... Read More
Categories: Travels
Positions Mentioned:
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 28, 2019


Longtime readers of this site know that I try to avoid making big stock market calls as I feel that I have no edge there. An overvalued market perched on shaky fundamentals can always become more overvalued. Besides, opinions are worth what you pay for them—which incidentally is free around here. I’d rather focus my energy on esoteric pockets of the world that are ... Read More
Positions Mentioned: ASPS, AR, SD
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