In his newest commentary, Kopernik’s CIO Dave Iben draws inspiration from Robert Plant and the deserts of Morocco to discuss the Fed’s printing press, the Cantillon effect, and the value Kopernik is finding in scarce, undervalued, useful assets.
With so much anxiety about the current euphoria in the market, we thought it was a good time to send out a little stocking stuffer with some of our thoughts. In a nutshell, we reach back into Greek mythology to explain why we believe that people are buying great companies but at the wrong prices. Of course, some are buying hopes and dreams at ridiculous prices as well, but that is a story for another time. More importantly, in our opinion, the real-money making opportunities lie elsewhere. This gives us hope as 2020 merges into 2021. Wishing you a Happy and Healthy New Year.
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.
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.
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.
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
Stephen Rosenthal, CFA, Kopernik Analyst, discusses the global demand for energy and how coal will continue to be a viable option to meet the energy needs of a growing population.
Mark McKinney, CFA, Kopernik Analyst and Portfolio Manager discusses a wide array of topics including risk, earnings, tech privacy, and Blockchain.
Alissa Corcoran, CFA, Kopernik Analyst, discusses Kopernik's view on gold, its unique history, and the global opportunities Kopernik is finding in the industry.
Mark McKinney, CFA, Kopernik Analyst and Portfolio Manager discusses the valuation changes of the worlds stock markets, the current tech stock heavy environment, and a look at Blockchain mania.
Stephen Rosenthal, CFA, Kopernik Analyst, and Mark McKinney, CFA, Kopernik Analyst and Portfolio Manager discuss Kopernik's approach to assessing the risk and opportunity of investing in Russian equities.
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.
Our CIO Dave Iben was profiled in Barron's, where he discussed the history of Kopernik and how his nearly four decades of investment experience have prepared him to find success in value investing. Read the full feature on the Barron's website here.
Kopernik's Director of Research Alissa Corcoran went on BNN Bloomberg to discuss Kopernik's current incentive price for oil, and the big investing opportunities she's seeing in gold and uranium, which she feels continue to be undervalued. Watch the full segment here.
On March 30, 2021, Kopernik's President Neda Yarich hosted a discussion on Environmental, Social, and Governance (ESG) with Chief Investment Officer and Lead Portfolio Manager David Iben and Director of Research/Analyst Alissa Corcoran.
Presentation: Antidote to Correlation E.S.G. Webinar
Video Replay: Antidote to Correlation E.S.G. Webinar
