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⌁ Featured Articles ⌁
Anatomy of a 3x: Loncor Gold
I bought a DRC gold explorer nobody wanted at 47 cents. Eleven months later, it was acquired for C$1.38. Here's the full story - including the part where I almost sold. Every November and December, Canadian and US investors dump their losers to book tax losses. Volume dries up, bids disappear, and good small-cap stocks go on sale for no fundamental reason. I build my watchlist all year and go shopping in tax-loss season. It's a seasonal edge that's too small and too illiquid
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Jul 42 min read
Meet RMP, the New Name for Endless QE
"I think shrinking the [Fed] balance sheet is the wrong objective." - Fed governor Barr. With inflation through the roof, inflation expectations sky high, and the economy excluding AI in a recession, the Fed is printing money. But it's not QE anymore - the new name is RMP. Last week, Fed governor Michael Barr gave a speech defending Fed money printing. Inflation, as measured by CPI, is already higher than the Fed funds rate. The Fed is cutting rates. But that's not enough. As
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May 194 min read
The Permanent Portfolio
The outdated 60/40 portfolio fails in modern markets, as bonds no longer provide stability. A better approach is this Permanent Portfolio.
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Mar 26, 20257 min read
Trump, Hoover, and the Roaring ‘20s Deja vu
This post compares Trump’s policies to the 1920s, forecasting shifts in the global economic landscape.
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Jan 22, 20258 min read
Preparing for a Minsky Moment
My first degree was in engineering. I grew up liking the natural sciences and thought the social sciences were full of crap – too touchy...
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Dec 16, 20247 min read
Choose Crypto, Not Bitcoin Core
I made the below client presentation back in March to explain why I'm no longer bullish bitcoin even though I like crypto. Today morning,...
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Dec 14, 20246 min read
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