Kuppy on Inflation

[MattR]

14 hours ago, gfp said:

He didn't really, but his fund had a drawdown

 

His partners yanked the money out and it was only through big wrestling that he convinced them to stay on for one more year, in which he had a good result. 

If the partners yank their capital because of the drawdowns, your fund has blown up. 

[coc]

Kuppy blew up on junior gold miners in Canada. It wasn't like Munger where his Blue Chip (now BRK) got marked down in a massive bear market for small caps (-80%) and then became a legendarily good investment for the next 50 years. The money was gone at Praetorian.

 

Then the MGG blowup.

 

He's doing better now clearly. 

Edited January 24 by coc

[Gmthebeau]

1 hour ago, coc said:

Kuppy blew up on junior gold miners in Canada. It wasn't like Munger where his Blue Chip (now BRK) got marked down in a massive bear market for small caps (-80%) and then became a legendarily good investment for the next 50 years. The money was gone at Praetorian.

 

Then the MGG blowup.

 

He's doing better now clearly. 

 

There are so many mining scams in Canada and around the world.  I remember a good friend of mine getting sucked into Cal-graphite decades ago, which was a Canadian mining company that was going to rule the graphite industry.  I figure it's about time for that scam to come back around soon since most people have forgotten about it.

[gfp]

Man, looking back at the holdings he had before he closed down the first version of Praetorian, I haven't found a single holding that is even still publicly listed

 

International Monetary Systems, Ltd

International Commercial Television Inc

Bingo.com Ltd

Timberline Resources Group (still public at .047/share)

DAC Technologies Group International, Inc

 

There are no extra points awarded for degree of difficulty or obscurity in investing.  Hopefully that is the lesson he learned from the first go round.  He still dabbles in little shitcos like Surgepays, which isn't going anywhere long term but is scrappy and trying to exploit some government subsidy for poor people to get online on a cheap tablet.  Praetorian's SURG position reminds me of his old style.  (and I would be surprised if it still listed 10 years from now, much like the names above)

Edited January 24 by gfp