News & Views

News & Views

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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The Big Long

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

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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Inconceivable

Mark McKinney, CFA, Kopernik Analyst and Portfolio Manager discusses our investment philosophy and process in more detail, with some specific examples, and how our approach leads to low correlation versus the benchmark and competition in the Global Value space.

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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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Bloomberg Radio - May 10, 2020

Our CIO, Dave Iben, went on Bloomberg Radio to discuss where he's currently finding attractive buying opportunities around the globe, and why some of the safest investments, such as gold mining stocks, might also have the most upside.

Listen to his full interview here.

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