Click on the image a PDF version of the letter. We are awash in high frequency yack and CSC has determined NOT to comment on
I am not going to insult the intelligence of the reader by making a list of claims for the future, which is common theatre this
The recent fun and games involving the NBA and the gambling indictments are certainly amusing on their own merits, but do they say something
The very long cycle of ridiculousness continues in financial markets as judged by investor behavior in the usual suspects of “meme, crypto, return of the Spacs, credit recycling vs Chapter 11’s, the blind acceptance of Continuation Fund pitches and Washington DC output.”
I am normally loath to add commentary on the macro yack d’jure as I simply can’t imagine you woke up this morning wondering, wow, I
Unlike most of the rest of the world, I will attempt to minimize all there is to say about the beginning of the next 4 years, as the persistent yack and what to make of it reverberates in all corners of the financial globe.
At the 2018 Berkshire Annual Meeting, Buffett noted that “multiple times in my life, people have felt the country was more divided than ever….and after
While the beach version of SoCal has had an epic, non-marine layer summer, it seems to have been enjoyed by few locals who instead violate
Here we are in June, and things mostly continue on in a Newtonian fashion: “A stock at rest will remain at rest, and a stock
“Yeah, Whatever” shall be the annoying theme for the next few hundred words due to a recent and random listening of Liam Lynch’s 2002 important hit.
The coast seems a little clear, Monster Truck Rain excepted. Since I dread writing this time of year from the standpoint of “predictions for any
The calendar third quarter of 2023 was a messy one for financial markets at large, and we were not immune to its lack of charms.
Click the image to download a PDF version. We return after a slightly longer than usual gap between writings as…we were busy. Yes, it is
Click the image to download a PDF version. This is always the worst time of year to write about “Strategy” because of the cacophony of
Yes, it would be hard to use a Yogi Berra quote while wearing a Dodger uniform, so we will fall onto the Fitzgerald sword that
“Desengaño” was noted by one Antonio Garcia Martinez in his most excellent book, Chaos Monkeys: Obscene Fortune and Random Failure in Silicon Valley, as a
April 2022 – As we have noted in this space in the past, there is a lot of the world that cannot be captured by
Read last quarter’s Strategy Letter here. January 2022 — Every year has plenty of lessons when looking backward in December. Our mindset is that if
When your largest position, Viasat Inc. (Ticker: VSAT), enters into a transformational merger involving regulatory complexity, interesting technology, enough equity issuance to require a shareholder
“First shalt thou take out the Holy Pin. Then shalt thou count to ten, no more, no less. Ten shall be the number thou shalt
Read last quarter’s Strategy Letter here. June 2021—Be forewarned – we are going to empty the quote bin this quarter. Let’s start with one Robert Smith,
Read last quarter’s Strategy Letter here. April 2021—Well, let’s just say things are different in 2021. From an investing standpoint—and from our standpoint—it’s obviously a
Read Q1 2021’s CSC Strategy letter here. Read the previous CSC Strategy letter here. DECEMBER 2020–As we have noted previously, one cannot practically ignore the
SEPTEMBER 2020 — It would be correct to say that a number of us have had a little more “alone” time on our hands over
JUNE 2020 — We are back, to some degree. I am referring more so to communication with the world outside of our client base,
BREAKING: We interrupt this regularly scheduled letter for a brief and likely useless take on “the virus.” The first issue is that when a
Negative Interest Rates and Assorted Fixed Income Weirdness One Claudio Borio, head of the monetary and economic department at the BIS, recently remarked of $14.8
Download Cove Street Capital’s January 2020 Strategy Letter Number 38: “Repetition Can Be a Form of Change.”
Download Cove Street Capital’s October 2019 Strategy Letter Number 37: “Fitzgerald, Goethe, Value”
Download Cove Street Capital’s July 2019 Strategy Letter Number 36 “Big House, Small Doors?”
