Category: Iben insights

“Humankind cannot bear very much reality.” —T. S. Eliot, Burnt Norton I was recently asked to speak at the Capstone Student Investment Conference at the University of Alabama. The university has a value investing program; who knew value investing was still taught? 😊 The option of a value investing minor is available to all students.…

As many of you know, Kopernik has a Global Immersion program, the ninth iteration of which was this past summer.  A significant percentage of Kopernik’s investment team journey abroad every summer in search of stock market bargains in countries that we believe are rich in culture and history but are misperceived and undervalued. “So much…

“Hey hey, my myRock n’ roll can never die” – Neil Young “Last year, David Einhorn of Greenlight Capital pronounced that value was “dead”.Another speaker at the London conference, Alissa Corcoran of Kopernik Global Investors refutes this claim.Value investing is immortal, she says.” – Edward ChancellorBreakingviews column, May 16, 2025 Our colleague, Co-CIO Alissa Corcoran, recently…

During a recent podcast interview with Grant Williams, he asked me a series of questions about value investing: where does the necessary patience come from? Are people born with the requisite skepticism? How does one handle the extreme discomfort that often goes hand-in-hand with owning unpopular stocks? I love thought-provoking questions. In my most recent…

Luxor is a fascinating place. So much history. And it has changed a lot since I last visited 35 years ago. It is interesting to listen to the tales from four millennia ago and realize how much has found its way into the messages in the religions of ancient Greece and Rome, and even in most present-day…

This commentary was initially penned in Buenos Aires, a beautiful city with wonderful people, food, sights, and a fascinating history. We had significant opportunities to do research, visited mines in the Puna, attended a large lithium conference in Salta, and met with leading agriculture, real estate, mining, and energy companies. Of course, we managed to…

The marketplace believes, almost unanimously, that economic weakness causes less inflation. We believe this tenet to be way off base, leading to tremendous investment opportunity (and, conversely, peril).  Yes, the CPI is rising at a slower rate and may continue to do so for a while. This is highly unlikely to last because the major…