News & Views

News & Views

Once Upon a Time on Wall Street

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

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

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

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

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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Kopernik Perspective: Gold (July 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...

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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Kopernik Perspective: Uranium

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

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These Go To Eleven

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: Currency

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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Willful Blindness

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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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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Barron's Profile featuring Dave Iben - A Longtime Value Manager Is Betting on Gold Stocks. Here’s Why

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.

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BNN Bloomberg - We're calling for a $75 barrel of oil | Alissa Corcoran - March 10, 2021

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.

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Event: The Antidote to Correlation Webinar - ESG

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

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Barron's Penta: Future Returns: Investing Beyond the S&P 500, featuring Kopernik CIO Dave Iben - March 30, 2021

Kopernik's CIO Dave Iben spoke with Barron's Penta for a column on why investors should consider opportunities outside the S&P 500, and why becoming an "international bargain hunter" is a great first step. Read the full story here.

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