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November 21, 2019

My Discovery While On Vacation…


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 More
Positions Mentioned: ASPS, STNG, SD
June 28, 2019

“Long-Shorts”


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
December 10, 2018

Taking Advantage Of The Energy Washout…


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 More
Categories: Investments
Positions Mentioned: TDW, ESV, NE, AR, GPOR, RRC, SD
December 3, 2018

Who’s Bullish On Natural Gas??


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 More
Categories: Investments
Positions Mentioned: AR, GPOR, RRC, SD
November 18, 2018

40% Less Than Carl Paid…


In the two decades that I’ve been investing in stocks, one of my favorite strategies is to follow very successful investors and wait for the opportunity to buy one of their holdings at a sizable discount to what they paid—particularly if the thesis seems to be playing out. With that in mind, it is worth noting that Carl Icahn is one of the greatest ... Read More
Categories: Investments
Positions Mentioned: SandRidge
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