Behind the Balance Sheet #48 The Independent Thinker
22 snips
Jun 19, 2025 In this engaging conversation, Dave Iben, founder and CIO of Kopernick Global Investors, shares his contrarian insights on value investing. He discusses the revival of value stocks after years of underperformance and explains his transition from a would-be veterinarian to a savvy investor. Dave highlights key trends in precious metals, particularly platinum and gold, and emphasizes the importance of deep market analysis. He also explores how strategic travel informs investment decisions in emerging markets, stressing the need for discipline and patience in portfolio management.
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Long Wait Pays For Uranium
- Dave Iben described buying undervalued uranium stocks when prices were extremely low and waiting years for them to appreciate.
- He accepted a long wait because when the price tripled eventually, it yielded strong returns.
Gold Leads Commodities Catch-up
- The long-term correlation among gold, silver, platinum, and other commodities is high due to dollar depreciation.
- Gold rises first when the dollar falls, with other commodities following later.
Hold Value Stocks With Conviction
- Don't sell stocks just because their price falls; evaluate fundamentals carefully.
- Sell only when there is clear evidence like poor management, mistakes, or financial issues.
