We know all too well that what has worked recently is owning low-ROE and non-earning companies. But going forward, isn’t it reasonable to expect solid
There are large elements to truth in this piece, but it also references a period where NOTHING was easier and smarter and cheaper than being
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,
We manage other people’s money so it is only fair that we are compared to something. The Russell Index mafia is that something and calling
An interesting piece about “stakeholders” and how the theory flies in the face of a LOT of reality. Excerpt below. Original article appeared in City
Republished from Almost Daily Grant’s, a Grant’s Interest Rate Observer daily newsletter. Under The Hood A Different Kind Of U-Turn. Electric Vehicle Hopeful Lordstown Motors
I read a lot. And cut and paste a lot. And save a lot of things, From time to time, I don’t feel like “working”
“Servicers who put struggling families first have nothing to fear from our oversight, but we will hold accountable those who cause harm to homeowners and
There are lots of things that OWNERS should hate about Exxon, all of which are related to their last decade of capital allocation in their
As an investor, if you spend the majority of your time looking at larger cap companies, it is truly hard to appreciate the wacky and
I was recently asked to share a small cap investment idea with the attendees of the Q2 Virtual Summit hosted by the Investor Summit Group.
I try to read widely. I stuff my IPAD with things and time goes by and I truly don’t recall how I ran across it.
The IEA is arguably the key source of global energy issues and math. Summarizing: The aspirations of Green grossly underestimate the capacity of the existing
We don’t know these people and we are not vouching for their work or conclusions, but they are holding the right hot poker that is
Cove Street’s PM, Jeffrey Bronchick, has a daughter in Richmond, Virginia, which coincidentally is the home of Markel Corp and their mini-Berkshire style annual meeting.
If there is something upon which anyone in the world can agree, it’s that there is simply an overwhelming amount of “information” out there that
From artnet.com The Gray Market: How a Brazen Hack of That $69 Million Beeple Revealed the True Vulnerability of the NFT Market (and Other Insights)
Some of the benefits of investing in private assets instead of public companies have been well documented. As an investor in a private fund, you
The following is an excerpt from Cove Street’s Small Cap PLUS Q1 2021 letter. It represents a totally fictional, certainly not autobiographical, account of what
Eugene and Andrew discuss one of the more interesting businesses we are invested in at Cove Street. Viemed (NASDAQ:VMD) provides non-invasive ventilators (NIVs) to patients
As we all know from Star Trek, there are many parallel universes out there. While their existence cannot be proven logically—at least up to
No, this is not a spinoff of Tim Ferriss’s The 4-Hour Workweek. There are in fact no shortcuts to great investing. Having said that, it is very
I recently appeared on the Capital Employed podcast. While I do enjoy longer interviews where I can dive deep into Cove Street’s investment process and
I am 5 years into a successful marriage, so I am slowly becoming an expert in the field. And like many things my grandmother told
This is interesting and worth reading. There is a LOT of nuance behind Green Headlines. Go to Terrapass.com and see how green a bankrupt Canadian
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
This was culled from the first quarterly conference call for Canoo, which needless to say is a SPAC merger that as far as I can
Let’s just say the graveyard is full of those who think they are “bigger” than the market and “markets” exist to be bent to
This relates to a lot of things in the world outside of Wobegon.
This past week I had the distinct privilege of presenting to Titan Capital Management undergraduate students at Cal State Fullerton. Kelly Ko, who is a
