News & Views

News & Views

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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Master and Servant (Jun 2018)

We discuss the dangers and opportunities created investors allow independent thought and judgment to be subordinated by the dominant theories of the day; to prescriptive economic theories; to formulaic investment models; and especially to price insensitive investment approaches. Why Kopernik prefers independent thought to dependency and judgement to data. We discuss why the future looks bright for active investing, for value investing, and for idiosyncratic investing.

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Runaway Train (Dec 2017)

Using the aforementioned song as an analogy for the current investment market, we discuss the how the markets look like a runaway train, the perils that presents for investors, but more importantly, the potential safety and money-making opportunities available to those who are willing to jump off the momentum express train.

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The Weight of the Wait (Jun 2017)

We revisit the active/passive debate, the current obsession with measurement, the concept of weight, and the misguided measurement of risk. These phenomena present attractive opportunities to thoughtful, patient, long-term investors.

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Time in a Bottle (Apr 2017)

We discuss the essence of time and how do we account it in an era where the world’s central banks have suppressed the most important variable used to discount the time value of money. Since these developments have effectively rendered conventional valuation models useless we delve into how Kopernik tries mitigate it by, among other things, using Charlie Munger’s approach of turning the models upside down.

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Kopernik Perspective: Is Coal Dead? (Feb 2016)

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.

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That Word. I Do Not Think It Means What You Think It Means. (May 2018)

Mark McKinney, CFA, Kopernik Analyst and Portfolio Manager discusses a wide array of topics including risk, earnings, tech privacy, and Blockchain.

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Kopernik Perspective: Gold (Apr 2015)

Alissa Corcoran, CFA, Kopernik Analyst, discusses Kopernik's view on gold, its unique history, and the global opportunities Kopernik is finding in the industry.

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It’s Like Déjà Vu All Over Again (Jan 2018)

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.

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I Don't Get It (Aug 2017)

Mark McKinney, CFA, Kopernik Analyst and Portfolio Manager, discusses central banking, quantitative easing, debt yields, ETF manias & cryptocurrencies and the effect they have on the current investing environment.

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Kopernik Perspective: Russia - It's not me, it's you (Apr 2015)

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.

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MarketWatch - April 29, 2020

Kopernik CIO, David Iben, was featured in MarketWatch today discussing how value stocks are offering "opportunities of a generation" and why he thinks investors who believe value is gone for good will be proven wrong.

Read the full story here.

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TD Ameritrade Network - David Iben On The Case For International Stocks

David Iben, Kopernik’s CIO, appeared on TD Ameritrade Network to discuss current investment opportunities.

March 09, 2020

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Welling on Wall St. - Listening In: Dave Iben - Embracing Vol, Hated Stocks (Nov 2019)

Dave Iben recently sat down with Kate Welling at Welling on Wall Street to discuss finding values in the market’s most reviled sectors and why active management is more important than ever.

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Value Invest New York

The inaugural edition of Value Invest New York took place at the Metropolitan Club on December 4 2018. It featured renowned Value Investors from the United States, including David Iben, Kopernik's CIO, as well as being a showcase for other Value Funds to talk about investment ideas from around the world.

See the full story here.

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The Wall Street Transcript: Waiting for the Market to Have a Vastly Different Opinion - Featuring David Iben

Kopernik's CIO David Iben was recently interviewed by The Wall Street Transcript.

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Barron's Video: Bargains Off the Beaten Track - Featuring David Iben

Kopernik's CIO David Iben recently spoke at a Barron's conference. In this interview, he discusses "three investments that look cheap in a fairly full-priced market."

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