News & Views

News & Views

“When”-ing isn’t Everything, It’s the Only Thing! (May 2016)

Drawing similarities to the famous quote by Vince Lombardi, we discuss the currently inflated perception of the importance of ‘when’, the current opportunity to ‘win’, the prevalence of people playing not to lose, some thoughts on how the game is currently being played, and how this has left stocks so undervalued that returns are likely to be lucrative even if it takes a little time to materialize.

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The Big Long (Feb 2016)

Using the Academy Award winning film, The Big Short, David B. Iben, CFA discusses the current valuation environment of early 2016 and why the world is scripting it’s sequel. Arguing that we are not in the beginning of a bear market but rather near the late stages of a deep, powerful, psychologically challenging bear market. Dave explains the potential upside of current depressed valuations and why we are waiting patiently for an inevitable return to rationality.

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It's Still Rock and Roll to Me (Jul 2015)

David B. Iben, CFA discusses cyclicality in the financial markets. Whether it be clothes, entertainment or currencies, human preferences are ever changing making this market have an extraordinary level of peril and opportunity. And why, in the current highly-correlated investment environment, Kopernik uses a rigorous, bottom-up research process to mitigate it. Here at Kopernik, it’s still rock and roll to us.

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The Twilight Zone (Jan 2015)

Drawing parallels to the 1959 American TV show, David B. Iben, CFA discusses the current financial markets and why we believe, much like 1999 and 2008, we have crossed into the “twilight zone”, why this appears to be the buying opportunity of a lifetime and how Kopernik is taking full advantage where many prefer to buy high and sell low.

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When Doves Cry (Oct 2014)

David B. Iben, CFA discusses why we believe that valuation is the key determinant of risk (permanent loss of purchasing power) and why short-term price fluctuations are not risk, but are an annoying, often painful, creator of opportunity. While When Doves Cry reminds us of the Fed’s cooing over taking the risk out the marketplace, Prince’s apocalyptic anthem, 1999 will be used as a medium to lay out quite a bullish case for active management.

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Kopernik Perspective: A Differentiated Approach to ESG (July 2022)

In this whitepaper on ESG, Kopernik’s investment research team provides an update to our March 2021 webinar on the same topic. In summary, ESG is important, complex, and nuanced. This whitepaper will give an update on how we think about the current ESG environment, provide examples of the types of ESG risks we are evaluating, and explain how we integrate ESG risk into our valuation process.

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Managing Geopolitical Risk in a Global Portfolio (July 2022)

In this whitepaper, Kopernik’s investment research team builds on our April 2022 webinar about geopolitical risk, breaking down our process and examples of both successes and losses in emerging markets. Evaluating geopolitical risk has always been a key factor in our global investment process. As global crises have made our role as investment manager more crucial than ever, our mission of being independent thought leaders could not be more pertinent.

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Fear is Good (July 2022)

In his latest commentary, Kopernik analyst and co-portfolio manager for the International Strategy, Mark McKinney, compares today’s U.S. market to the tech bubble of the late 1990s and 2000s. He also gives examples of the many “mini bubbles” that have already burst under the surface of the bigger names in the index. Lastly, there are some thoughts on the US Dollar, inflation, and gold.

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The Greater The Suffering, The Greater The Peace (Jan 2022)

In his latest commentary, Kopernik analyst and co-portfolio manager for the International Strategy, Mark McKinney, compares the actions of the U.S. Federal Reserve and the resultant inflation and choppy investment environment to the dangerous aspirations of villains in Hollywood spy films and how Kopernik is actively managing our investments through “the greater suffering.”

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Lord make me green…but not yet (Nov 2021)

In his latest commentary, “Lord make me green…but not yet”, Kopernik Analyst Steve Rosenthal discusses a range of factors that handicap “net-zero” emission pledges around the world. While this ambitious goal will hopefully materialize, there resides a paradox in achieving it at the rate and extent we want/need.

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At What Cost? (Sep 2021)

In his latest commentary, Kopernik analyst and co-portfolio manager for the International Strategy Mark McKinney uses Thomas Sowell’s classic question “At what cost?” to articulate potential unintended consequences of finding solutions to current economic challenges.

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Value Investor Insight - featuring Dave Iben - July 31, 2020

Kopernik CIO Dave Iben recently spoke with Value Investor Insight for a feature piece on where he's finding value and why it's one of the best times ever to be an active investor. Read the full interview here to learn more about how he's identifying opportunities in high-quality companies in emerging markets as well as situations where cash flows are latent and reside in real assets.

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The Antidote to Correlation Webinar - Mining Companies

September 10, 2020 - Director of Research/Analyst Alissa Corcoran interviews analysts Steve Rosenthal and Taylor McKenna about how Kopernik values mining companies. Although these companies may come with a lot of baggage, we believe the upside potential more than offsets the risk. We discussed how we assess the risk, the opportunities we are seeing today, and took time to answer live questions.

Please click here to watch the replay.

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The Super Terrific Happy Hour Podcast - With Stephanie Pomboy and Grant Williams featuring David Iben - July 8, 2020

Kopernik CIO, David Iben, joins Stephanie Pomboy & Grant Williams to discuss the art of value investing, the challenges it faces in today's market environment and why it's a bad idea to write any obituaries for the strategy just yet. Tune in to this podcast to listen as Dave discusses the cycles he's witnessed over his career as he gets ready to enter his fifth decade in the business, the lessons he's learned and offers some thoughts on where value can be found off the beaten path as equity markets scream towards all-time highs.

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Financial Advisor - Emerging Markets Roar Back, Too - June 5, 2020

Kopernik CIO, David Iben, recently discussed with Financial Advisor where Kopernik is finding attractive opportunities within the emerging markets.

Read the full story here.

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Value Invest Interview (Part 1) - June 2, 2020

Kopernik CIO, David Iben, was recently interviewed by Robert Hunter from Value Invest.

Listen to the interview (Part 1) here.

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Value Invest Interview (Part 2) - June 2, 2020

Kopernik CIO, David Iben, was recently interviewed by Robert Hunter from Value Invest.

Listen to the interview (Part 2) here.

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