As promised, we are back with a new interview for Global Macro Update. My guest Harris Kupperman, or “Kuppy” as he’s colloquially known, believes we are entering a golden age of macro investing.
Kuppy is the founder and CIO of Praetorian Capital, where he publishes an investor letter that I read regularly. In it, he’s written about the “great macro dreamscape,” where the world unravels largely in response to runaway government debt. This aligns in many ways with John Mauldin’s ongoing discussion of cycles. While many of Kuppy’s readers took his forecasts in a negative light (and there will be negative fallout, particularly inflation), he is more focused on the opportunities it will create for macro investors.
We dig into those opportunities in detail in this interview, with Kuppy sharing specific areas—including offshore energy—that he likes. We also discuss his success with uranium, and how our tense relationship with Russia and many emerging market nations will accelerate the global race to secure access to energy and commodities.
Our conversation reinforced my views on the resiliency-driven inflation that lies ahead.
Watch my interview with Harris Kupperman by clicking the image above. A full transcript of our conversation is available here.
Go here for Kuppy’s excellent investor note.
Thanks for reading and watching.
