News & Views

News & Views

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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The Weight of the Wait

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

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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The Passenger

Taking cues from the 1977 Iggy Pop song bearing the same name, we discuss the distinctions between active/passive investing and why we at Kopernik prefer to be the driver, not the passenger.

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

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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Is This An Inflection Point For Passive Management?

In this June 2020 white paper, analyst Taylor McKenna explores the similarities and differences between active and passive management strategies. He argues that passive management strategies, such as ETFs and closet indexers, cannot replicate a more active approach. Using the metaphor of a thoughtful baseball manager, Taylor suggests that active management adds value to an investment strategy.

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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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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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Barrons Feature Story on Commodities with Kopernik CIO, David Iben - January 1, 2021

Kopernik Founder and CIO Dave Iben was included in a Barron's feature story, where he spoke with the publication about the buying opportunities he's currently finding in commodities like uranium, energy, and more. Read the full story here.

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BNN Network - Commodities Primed for a Price Surge | Alissa Corcoran - February 4, 2021

Kopernik's Director of Research Alissa Corcoran went on BNN Bloomberg to discuss why commodities like uranium and gold have been underappreciated (partly due to momentum stocks), why the price of each will need to increase, and her key sector picks including Cameco and Centerra. Watch the full interview here.

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Bloomberg Radio - Dave Iben On The Markets - December 28, 2020

In this interview with Bloomberg Radio’s Daybreak Asia, Kopernik CIO Dave Iben discusses the extremely bifurcated market and opportunities that we’re finding in gold producers and emerging market telecom companies. Listen to the full interview here.

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Barron's "Top Income Investments of 2021" with Dave Iben - December 31, 2020

Kopernik Founder and CIO Dave Iben recently spoke with Barron's for the publication's "Top Income Investments of 2021" cover story, where he discussed where he's currently finding value opportunities overseas. Read the full story here.

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One-On-One with Dave Iben - Bloor Street Capital - November 23, 2020

Kopernik CIO Dave Iben spoke with the team at Bloor Street Capital to provide a rundown of Kopernik’s investment philosophy and explain why 25% of our assets are currently invested in gold and silver equities. Watch the two part series to learn more about how Kopernik values investment opportunities in the mining space.

Part 1 - Gold and Silver

Part 2 - Copper and Uranium

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