Today I have for you a recorded conversation with Harris Kupperman (Kuppy), a friend of mine who manages Praetorian Capital, a Florida-based hedge fund. Kuppy is one of a clutch of guys who I call on to stress test my views and vice versa. Sometimes we disagree, though more often than not we don’t. Either way,… Read More
Trading
You Stupid, Stupid Boy! (Education of an Investor)
Teenagers do stupid things. I speak from authority. Freshly entering pimple-faced territory I had the opportunity to spend some time with a girl who made me weak at the knees. She was everything that my hormone soaked brain wanted. She was also incidentally the owner of and an accomplished rider of horses. So accomplished that… Read More
Are You Investing Like the Terminator? You Should Be!
When robots eventually take over this planet, killing us all (save a small group singled out to be used as slaves, and thrown into a big brother style environment with live streamed cage fights to the death), or possibly used in lab tests, you can bet that they won’t feel bad about it. Curious perhaps as… Read More
Value in France – Who Would have Thought?
Nowadays France is better known as the country which has managed to take incomprehensible, anti-growth, anti-sanity, bureaucratic policies, layer them on top of existing, mind-numbing socialist stupidity and have their citizens think it all as ordinary as chocolate cake. It’s enough to induce a guy to reach for Xanax, if just to quell the anxiety…. Read More
The Importance of Buying Lots of Time
Early in 2012 I noted how cheap Royal Dutch Shell (RDSA) appeared. Certainly the stock looked cheap, though when trading options I need more than just a cheap stock. Importantly, in this instance the availability of ultra-long term December 2016 expiration options (trading on the Amsterdam exchange) also seemed cheap, which is what I require,… Read More
Is Crude Setting Up for Something Big?
Our friend and colleague Harris Kupperman recently wrote an article about Kashagan and the massive delays being enjoyed by this particular project. The problem is that Kashagan is a poster child for the sector as a whole. This isn’t an anomaly. Let me copy a few key paragraphs from his article: Ever since oil prices… Read More
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