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.
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.
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.
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.
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.
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.
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.
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.
Stephen Rosenthal, CFA, Kopernik Analyst, discusses Kopernik's view on Uranium.
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.
Alissa Corcoran, CFA, Kopernik Analyst, discusses Kopernik's view on currency risk and why the Firm doesn't hedge foreign currency exposure.
Kopernik's CIO David Iben was recently interviewed by The Wall Street Transcript.
Kopernik's CIO David Iben recently spoke at a Barron's conference. In this interview, he discusses "three investments that look cheap in a fairly full-priced market."
Kopernik's Founder, CIO and Portfolio Manager, David Iben, discusses why Kopernik likes certain gold, uranium and phone companies in this current, especially inefficient market.
Kathryn Welling and David Iben discuss his recent endeavors and why Dave believes this is a great market for value investing.
Value Investor Insight features Kopernik’s Founder and Portfolio Manager, David Iben in “Against the Grain.” In the article, David Iben discusses the investment philosophy at Kopernik Global, why today’s market is reminiscent of 1972 and 1999, risk versus reward in Russia and China, and single-industry valuations on a global basis
Kopernik's Founder and Portfolio Manager, David Iben, discusses why the current environment is ideally suited for active managers who are willing to think independently and invest in unpopular regions and sectors.
