News & Views

News & Views

Making Plans for Nigel (May 2020)

Our most recent commentary explores why the "Big Brother" interpretation of the British post-punk band XTC's song "Making Plans for Nigel" reminds us of the inevitable increase in angst that is being felt, in no small part due to a decade of QE monetary policy. One can only imagine what will eventually be felt as a consequence of QE-infinity. We discuss how our current era of palpable angst is similar to that of the late 1970s, which was the cyclical end of a period of high inflation, of big government, and the bull market in commodities while also the beginning of a super cycle in stocks and bonds. While the current era is likely another major inflection point in the markets and the end of all those cycles, the silver lining is that the valuation divide between expensive and attractively-priced stocks has probably never been this wide, making it a great time to be a bottom-up, value-conscious investor.

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The Call of the Wild (Mar 2020)

In our latest commentary, we look back to the great Jack London novel The Call of The Wild as a parallel to the herd mentality dominating the current investment environment. Following a dozen years of post-Global Financial Crisis policy designed to transfer wealth from financial assets to real assets, investors who are operating in panic mode are buying and selling the wrong assets. This has created incredibly cheap buying opportunities and, with that, a favorable environment for value investors.

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Once Upon a Time on Wall Street (Oct 2019)

In our most recent commentary, we pay homage to the 1960’s by contrasting our current environment to that of a mere half-century ago; it was a period when Wall Street saw only good things while Main Street saw turmoil and change. We view 2019 as arguably a supercharged version of the late 1960’s, which can serve as a guide and an excellent source of instruction on how to successfully navigate the current investment environment.

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The Renaissance and the Entropic Arrow of Time (May 2019)

The most recent commentary contrast the renaissance period to the contemporary era. A half-millennium ago, mankind's search for truth began to breakdown the stifling barriers to thought and liberty. In the contemporary world where truth and liberty have conceptually become easy, they are being sacrificed. While this is a gross generalization, excellent opportunities have been opened up for those willing to use common sense, dig for the truth, and act upon their conviction. At Kopernik, we continue conducting in-depth due diligence, thoughtfully appraising value, maintaining patience and self-control, and staying disciplined in our process.

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Waiting for Sebastian (Oct 2018)

We discuss the current investment environment by drawing parallels to the Portuguese myth based on the belief that King Sebastian will return to save Portugal. This seemingly captures the way most people feel about value investing by sneering at unpopular, but value-laden, tangible assets. We believe that what others condescendingly snub as “cigar butts” may turn out to be, figuratively, valuable ‘Cubans’, wrapper intact.

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Kopernik Perspective: Gold (Jul 2020 Update)

In this update of our 2015 white paper, analyst and Director of Research Alissa Corcoran, CFA discusses Kopernik’s view on gold, its unique history, and the global opportunities Kopernik is finding in the industry.

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The Subtle Art...(Sep 2019)

Mark McKinney, CFA, Kopernik Analyst and Portfolio Manager discusses the opportunities that volatility can offer and why Kopernik focuses on long-term performance. Mark uses the popular 2016 self-help book by Mark Manson to offer interesting insights and applicability in the investment world.

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These Go To Eleven (Feb 2019)

Mark McKinney, CFA, Kopernik Analyst and Portfolio Manager discusses the current macro investing environment in Japan, the EU and the US, by drawing parallels to the classic movie quote "These go to eleven" and how that helps Kopernik and the opportunity set we could provide over time.

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Kopernik Perspective: Uranium (Feb 2017)

Stephen Rosenthal, CFA, Kopernik Analyst, discusses Kopernik's view on Uranium.

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Willful Blindness (Sep 2018)

Mark McKinney, CFA, Kopernik Analyst and Portfolio Manager discusses the biggest threats and dangers that investors don't see, not because they're secret or invisible, but because we are willfully blind. Topics include: the U.S. Stock Market, Non-GAAP Earnings, The Buyback Boom, Growth vs Value, Volatility, Emerging Markets, and Russia

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Kopernik Perspective: Currency (Aug 2016)

Alissa Corcoran, CFA, Kopernik Analyst, discusses Kopernik's view on currency risk and why the Firm doesn't hedge foreign currency exposure.

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Bloomberg TV - Featuring Alissa Corcoran - December 7, 2021

Kopernik's Deputy CIO Alissa Corcoran appeared on Bloomberg TV to discuss why Kopernik believes precious metal mining companies present an attractive investment opportunity. Watch the full segment here.

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BNN Bloomberg - Featuring Alissa Corcoran - November 9, 2021

Kopernik's Director of Research Alissa Corcoran went on BNN Bloomberg to discuss why investing in gold miners is a great way to hedge against inflation. Watch the full segment here.

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Bloor Street Capital Uranium Conference - Featuring Alissa Corcoran - October 6, 2021

Kopernik's Director of Research Alissa Corcoran spoke with the team at Bloor Street Capital to provide a rundown of how Kopernik evaluates investment opportunities in uranium and explain why we believe it's still underpriced. You can watch the full conference here.

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BNN Bloomberg - Featuring Alissa Corcoran - September 14, 2021

Kopernik's Director of Research Alissa Corcoran went on BNN Bloomberg to discuss opportunities in emerging markets, as well as some specific picks like RusHydro, KT Corporation, and Suzuken. Watch the full segment here.

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Barron's Article Featuring Alissa Corcoran | These 3 International Value Funds Will Shine in a Global Recovery

Kopernik's Director of Research Alissa Corcoran was featured in a Barron's story discussing the top international value funds, where she spoke with the publication about KGIIX and where to find opportunities in emerging markets. Read the full story here.

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Bloomberg TV - Alissa Corcoran - May 27, 2021

Kopernik's Director of Research Alissa Corcoran went on Bloomberg TV to discuss the exciting opportunities she's finding in emerging markets and why Kopernik prefers gold over bitcoin. Watch the full segment here (starts at 15:53)

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