News & Views

News & Views

The Call of the Wild (Mar 2020)

In our latest commentary, we look back to the great Jack London novel The Call of The Wild as a parallel to the herd mentality dominating the current investment environment. Following a dozen years of post-Global Financial Crisis policy designed to transfer wealth from financial assets to real assets, investors who are operating in panic mode are buying and selling the wrong assets. This has created incredibly cheap buying opportunities and, with that, a favorable environment for value investors.

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Once Upon a Time on Wall Street (Oct 2019)

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 (May 2019)

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 (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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Is This An Inflection Point For Passive Management? (Jul 2020)

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 (Jul 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...(Sep 2019)

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 (Feb 2017)

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

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These Go To Eleven (Feb 2019)

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 (Aug 2016)

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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Wealthion | CIO Dave Iben on Inflation and Opportunities in Mining Stocks

Founder and CIO Dave Iben appeared on the Wealthion investing series to speak about the current inflationary concerns and how inflation impacts assets differently. Tune in to uncover his perspectives on gold, uranium, and lithium, and gain valuable insights into the risks and opportunities in mining stocks.

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Super Terrific Happy Hour with Stephanie Pomboy and Grant Williams | CIO Dave Iben on Investment Opportunities in Inflation | October 8, 2023

Founder and CIO Dave Iben appeared on The Super Terrific Happy Hour Podcast to discuss how the bifurcated market presents opportunities in real assets in an inflationary environment. Listen to the podcast or view the transcript.

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MarketWatch | Analyst Taylor McKenna on Silver's Investment Appeal | September 13, 2023

Kopernik’s Taylor McKenna spoke with MarketWatch about silver and gold’s performance and the opportunities the firm is finding with mining companies. Read the full story here

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Benzinga Gold Conference | Kopernik Analyst Taylor McKenna on Gold Miners | July 20, 2023

Kopernik Analyst Taylor McKenna joined Benzinga’s Virtual Gold Conference last week to discuss opportunities in the sector and the gold miners Kopernik maintains strong conviction in. We remain especially bullish on junior miners, like Seabridge Gold and Equinox Gold.

Watch the replay of the conference here to check out Taylor’s thoughts, beginning at the 20-minute mark.

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Bloomberg Daybreak | Kopernik's Corcoran on Global Investing | June 1, 2023

Kopernik Deputy CIO Alissa Corcoran appeared on Bloomberg TV to discuss why the current environment doesn’t deter Kopernik from capitalizing on the attractive opportunities present in commodity investing.

You can watch Alissa’s interview here.

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Tampa Bay Business Journal | Profile on Kopernik's President Neda Yarich | June 9, 2023

Kopernik’s President Neda Yarich was profiled in a story by the Tampa Bay Business Journal. She discussed our firm’s 10-year milestone, her professional trajectory, and why proper ESG integration requires a certain amount of critical thinking.

Read the full story here. 

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