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Playing Inflation Part 2
Warren Buffett famously told investors that if they wanted to prosper during periods of inflation, then they needed to buy companies with high returns on capital and pricing power. As a result, it...
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The Bigger Short
The Big Short has become a cult classic movie amongst finance guys. Of course, we all know how the story ends, so there’s no suspense. Instead, the movie is a tale of hubris, and the downfall of a...
View ArticleKuppy and Mike Alkin “Uranium” Interview at the 2023 World Nuclear...
Harris “Kuppy” Kupperman sits down with Mike Alkin, CIO and Founder of Sachem Cove Partners from the floor of the 2023 World Nuclear Association (WNA) Symposium to discuss how attending this conference...
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The Great Macro Dreamscape Part 1
In late March of 2020, one of the greatest wealth transfers of my lifetime began. It remade our world—or at least it remade my world. Those who recognized Covid as a hoax, were there to reap the...
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Argentina Update
It is said that Argentina has an economic crisis roughly every decade, and it seems to last for approximately ten years… In a previous posting, I noted that the upcoming Presidential election could...
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Just Smash the Buybacks
Great!! Another E&P that raised the quarterly dividend by two cents. Who F*cking Cares!!?? The debate about buybacks vs. dividends has been going on for over a century. I’m not here to try and...
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2023 Position Review
It seems that everyone has a blog these days. Once a year, we must stop everything, tally up the scores and see who got it right. Besides, what’s the point of going through all this effort, if you...
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The Blowoff
Last summer, I was having lunch with a friend at a plain vanilla shop, who kept checking his phone and muttering, “this NVIDIA is killing me.” After the third time in five minutes, I had to ask: Me:...
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Know Your Enemy
Whenever someone takes the other side of my trade, I want to put myself in their shoes. Is this a worthwhile opponent with a differentiated view?? Am I stepping into a trap?? Or are they doing...
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Bad is Good
Everyone thinks of inflation as being purely a financial phenomenon. However, it is much more than that. It is also a social phenomenon. As the inflation accelerates, an opportunist class rises to the...
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On Playing Gold…
Last year, I wrote Part 1 of The Great Macro Dreamscape (Part 2 is coming). To summarize, my view is that the coming decade will be the best of times if you can trade and profit from Global Macro, or...
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On China: Why the Real Risk is CNY 5, Not 9
In Macro investing, it’s critical that I have a roadmap of where we’ve come from and where I think we’re going. Of course, many things in Macro take far longer to play out than my chosen investment...
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