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November 21, 2019
Published by Kuppy at November 21, 2019
I know, I know, you’re sick of hearing about my vacation. Don’t worry, I’m not sharing vacation pics again. Rather, I want to talk about what I “discovered” in my weeks away from the screens. I believe that most serious investors are smart enough to buy cheap stocks—it’s the harder “other stuff” that separates those who excel in this industry from everyone else. I
Read MorePositions Mentioned: ASPS, STNG, SD
June 28, 2019
Published by Kuppy at 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 MorePositions Mentioned: ASPS, AR, SD
March 11, 2019
Published by Kuppy at March 11, 2019
If you had to distill today’s stock market down to one overriding narrative, it would be the flow of capital into consistent growth businesses and away from anything with the slightest hint of cyclicality or earnings volatility. I full subscribe to the market’s belief that a business with steady growth should trade at a premium to the mid-cycle earnings multiple of one with more
Read MorePositions Mentioned: AR
December 10, 2018
Published by Kuppy at December 10, 2018
One of the great ironies during the decade of ZIRP/NIRP and QE, is that while it created plenty of asset price inflation, it created minimal consumer price inflation. I suspect this is because free money brought forward all sorts of unprofitable new supply, creating oversupply in most industries and crushing end-market pricing. Look at shipping for instance, excluding some brief spikes, you’ve had all
Read MorePositions Mentioned: TDW, ESV, NE, AR, GPOR, RRC, SD
December 3, 2018
Published by Kuppy at December 3, 2018
I am bullish on US natural gas. I realize that this is one of the most contrarian things you can say in finance, but I am indeed bullish. Every investor knows that the US is awash in cheap natural gas, but investors often forget that usage and export volumes have also increased rapidly. Meanwhile, pipeline bottlenecks have slowed down the pace of new supply
Read MorePositions Mentioned: AR, GPOR, RRC, SD
