Wednesday, January 31, 2018 7:23 AM EDT
A performance review of The Black Swan Portfolio and a discussion of some of our best ideas.
Managing Editor, The Black Swan Portfolio
Contributor's Links:
The Black Swan Portfolio
I’m Bram de Haas. I seek downside protection and upside optionality through idiosyncratic, truly differentiated investments.
Investing, like poker, is all about taking calculated risks. I research investment opportunities far off the beaten path for my benefit and that of my ... more
I’m Bram de Haas. I seek downside protection and upside optionality through idiosyncratic, truly differentiated investments.
Investing, like poker, is all about taking calculated risks. I research investment opportunities far off the beaten path for my benefit and that of my subscribers. Just like in poker you have to show behavior that's different from the crowd to get better results. The independent performance tracking website Tipranks consistently ranks me in the top tier of all analysts and bloggers. And that's just for my public ideas.
"One of the best ways to do well in this business is to go to areas that have been unexploited by research capability and work them for all you can." -Julian Robertson
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ALL CONTRIBUTIONS
E DHT Holdings: An Undervalued Shipping Play With A Large And Young Fleet
Tuesday, January 30, 2018 7:36 PM EDT
A short review of an undervalued play within an out-of-favor industry.
In this article: DHT
E Book Review: Deep Risk
Thursday, October 19, 2017 10:40 AM EDT
Book review of Deep Risk by William L. Bernstein. The book gives knowledge on how to position a portfolio in the face of the 4 categories of deep risks that can truly devastate an unprepared portfolio.
E Bitcoin: Financial Elites Are Getting Involved
Friday, October 13, 2017 9:17 AM EDT
Christine Lagarde recently held a speech and Bitcoin was one of three important subjects. She appeared to be extremely well informed. Meanwhile, Goldman Sachs Lloyd Blankfein and Blackrock's Larry Fink are also in the know.
In this article: BITCOMP
E Lots More Than Aspirin: What You Should Know About Bayer
Thursday, September 14, 2017 1:13 PM EDT
German conglomerate Bayer can best be described as a pharma/medical business and it trades at a steep discount to peers. The conglomerate is attractive because it is not very expensive at 16x free cash flow.
In this article: BAYZF
E 7 Things You Need To Know Before Investing In The Next Hot ICO
Monday, July 3, 2017 11:00 AM EDT
Companies issue cryptocurrency instead of shares to fund their growth in ICOs. There are many similarities but also important differences with the traditional IPO. Here are seven things you need to be aware of.
In this article: BITCOMP
Comments
STOCKS I FOLLOW
| AABA | Altaba Inc. |
| AAP | Advance Auto Parts Inc. |
| AAPL | Apple Inc. |
| ABX | Barrick Gold Corporation (Old) |
| ACAS | American Capital Ltd. |
| AEG | AEGON N.V. |
| AGCO | Agco Corporation |
| AGN | Allergan Inc. |
| AJX | Great Ajax Corp |
| AKAAF | AKER ASA A SHS |
| ALIOY | ACTELION LTD |
| AMZKF | AUTOMODULAR CORP |
| AMZN | Amazon.com Inc. |
| ANF | Abercrombie & Fitch |
| APOL | Apollo Education Group Inc. (Private) |
| ARCC | Ares Capital Corporation |
| ARCVF | ARCADIS NV ORD |
| ARKR | Ark Restaurants Corp. |
| ARO | Aeropostale Inc. |
| ASFI | Asta Funding Inc. |
| ATUSF | ALTIUS MINERALS CORP |
| ATVI | Activision Blizzard Inc |
| AWX | Avalon Holdings Corporation |
| AYA | Amaya Inc. |
| BABA | Alibaba |
| BAC | Bank of America Corporation |
| BAMM | BAMM |
| BEAM | Beam Inc. |
| BEN | Franklin Resources Inc. |
| BIDU | Baidu, Inc. |
| BLERF | BLACK EARTH FARMING |
| BLK | BlackRock Inc. |
| BORN | China New Borun Corporation |
| BTCS | BTCS Inc |
| BTFRF | BETFAIR GROUP PLC |
| BTN | Ballantyne Strong, Inc. |
| BWX | SPDR Barclays Capital International Treasury Bond ETF |
| BX | The Blackstone Group L.P. |
| C | Citigroup Inc. |
| CAT | Caterpillar Inc. |
| CGUSY | Casino Guichard Perrachon |
| CMG | Chipotle Mexican Grill Inc. |
| CMPGY | COMPASS GRP SPON ADR |
| CMPR | Cimpress N.V. |
| COIN | Winklevoss Bitcoin Trust ETF |
| CSNVY | CSM NV ADR |
| CSX | CSX Corporation |
| CTB | Cooper Tire & Rubber Co. |
| CTHR | Charles & Colvard Ltd |
| CTRL | Control4 Corporation |
| CVX | Chevron Corporation |
| CYOU | Changyou.com Limited |
| DB | Deutsche Bank AG |
| DBB | PowerShares DB Base Metals Fund |
| DCO | Ducommun Inc |
| DE | Deere & Company |
| DEO | Diageo plc |
| DGL | PowerShares DB Gold Fund |
| DGLD | VelocityShares 3x Inverse Gold ETN |
| DGP | PowerShares DB Gold Double Long ETN |
| DGZ | DB Gold Short ETN |
| DHT | DHT Holdings Inc. |
| DHX | Dice Holdings Inc. |
| DIS | The Walt Disney Company |
| DRAD | Digirad Corporation |
| DRTGF | DART GROUP PLC |
| DSL | DoubleLine Income Solutions Fund |
| DSWL | Deswell Industries Inc. |
| DWA | Dreamworks Animation SKG Inc. |
| DYN | Dynegy Inc. |
| DZZ | PowerShares DB Gold Double Short ETN |
| EBAY | eBay Inc. |
| EGHT | 8X8 Inc |
| ESEA | Euroseas Ltd. |
| ESGR | Enstar Group Limited |
| ESSX | Essex Acquisition Corp |
| EVLV | Evolve Software Inc |
| EXC | Exelon Corporation |
| EXPD | Expeditors International of Washington Inc. |
| F | Ford Motor Company |
| FB | Facebook Inc |
| FCAU | Fiat Chrysler Automobiles NV |
| FCN | FTI Consulting Inc. |
| FCZA | First Citizens Banc Corp. |
| FIG | Fortress Investment Group LLC |
| FLL | Full House Resorts, Inc |
| FPI | Farmland Partners Inc. |
| FRO | Frontline Ltd. |
| FRS | Frisch's Restaurants, Inc |
| FURGF | FURGO NV EUR .20 ORD |
| FXCNY | FOXCONN INTL HLD ADR |
| GBTC | Bitcoin Investment Trust |
| GDX | Market Vectors Gold Miners ETF |
| GDXJ | MARKET VECTORS ETF TRJR GOLD MINES |
| GE | General Electric Company |
| GEUR | AdvisorShares Trust |
| GFSZY | G4S PLC UNSP ADR |
| GILD | Gilead Sciences Inc. |
| GIM | Templeton Global Income Fund Inc. |
| GLD | SPDR Gold Trust ETF |
| GLL | ProShares UltraShort Gold |
| GLNG | Golar LNG Limited |
| GLRE | Greenlight Reinsurance Ltd. |
| GLTR | ETFS Precious Metals Basket Trust |
| GM | General Motors Company |
| GOL | GOL Linhas Areas Inteligentes S.A. |
| GOOG | Alphabet Inc. (Google) |
| GOOGL | Google (A shares) |
| GRVY | GRAVITY Co. Ltd. - American depositary shares each representing one |
| GTU | Central GoldTrust |
| GYEN | AdvisorShares Gartman Gold/Yen ETF |
| HCP | HCP Inc. |
| HDGE | AdvisorShares Active Bear ETF |
| HDV | iShares Trust |
| HEINY | HEINEKEN NV ADR |
| HELE | Helen of Troy Limited |
| HF | HFF Inc. |
| HGT | Hugoton Royalty Trust |
| HLF | Herbalife Ltd. |
| HLS | HealthSouth Corporation |
| HPQ | HP Inc. |
| IAU | iShares COMEX Gold Trust |
| IBKR | Interactive Brokers Group Inc. |
| IEF | iShares Lehman 7-10 Year Treasury Bond Fund |
| IGT | International Game Technology |
| INT | World Fuel Services Corporation |
| INTC | Intel Corporation |
| ITG | Investment Technology Group Inc. |
| IVV | iShares S&P 500 Index Fund |
| IVW | iShares S&P 500 Growth Index Fund |
| IWM | iShares Russell 2000 Index Fund |
| JCOM | j2 Global Inc. |
| JNJ | Johnson & Johnson |
| JPM | JPMorgan Chase & Co. |
| JURIF | JURIDICA INV LTD |
| JW.A | John Wiley & Sons, Inc. |
| KGFHF | KINGFISHER NEW ORD |
| KING | King Digital Entertainment |
| KKPNY | ROYAL KPN N.V. |
| KMI | Kinder Morgan Inc. |
| KMP | Kinder Morgan Energy Partners L.P |
| KO | The Coca-Cola Company |
| KT | KT Corporation |
| LKST | Leukosite Inc |
| LLSC | Direxion Daily Small Cap Bull 1.25X ETF |
| LOOK | LookSmart Ltd. |
| LVS | Las Vegas Sands Corp. |
| MANU | Manchester United Ltd. |
| MAORF | MANDARIN ORIENTAL IN |
| MAT | Mattel Inc. |
| MCD | McDonald's Corporation |
| MCHP | Microchip Technology Incorporated |
| MFIN | Medallion Financial Corp. |
| MGM | MGM Resorts International |
| MGT | MGT Capital Investments Inc |
| MKC | McCormick & Company Inc. |
| MN | Manning & Napier Inc. |
| MO | Altria Group Inc. |
| MPET | Magellan Petroleum Corporation |
| MSFT | Microsoft Corporation |
| MSG | The Madison Square Garden Company |
| MYNG | GOLDEN EAGLE INTL |
| NC | NACCO Industries Inc. |
| NTDOY | NINTENDO CO LTD ADR |
| NWS | News Corporation |
| NWSA | News Corporation |
| OAK | Oaktree Capital Group |
| ODP | Office Depot Inc. |
| OPK | OPKO Health Inc. |
| ORCL | Oracle Corporation |
| OSTK | Overstock.com Inc. |
| OUNZ | Van Eck Merk Gold ETF |
| PALL | ETFS PHYSICAL PALLAD |
| PEP | PepsiCo Inc. |
| PFBI | Premier Financial Bancorp Inc. |
| PG | Procter & Gamble Co. |
| PHYS | Sprott Physical Gold Trust |
| PMD | Psychemedics Corporation |
| PNRA | Panera (taken private mid-2017) |
| PPLT | ETFS Platinum Trust |
| PRDSY | PRADA SPA ADR |
| PRSS | CafePress Inc. |
| PRXI | Premier Exhibitions Inc. |
| PSHZF | PERSHING SQUARE HLDGS LTD |
| PSX | Phillips 66 |
| QQQ | PowerShares QQQ Trust Series 1 |
| RELL | Richardson Electronics, Ltd. |
| RGLD | Royal Gold Inc. |
| RL | Ralph Lauren Corporation |
| ROYT | Pacific Coast Oil Trust |
| RSXJ | Market Vectors ETF Trust |
| RWM | ProShares Short Russell2000 |
| RYCEY | ROLLS ROYCE GRP ADR |
| RYRSX | Rydex Dynamics Fds Russell 2000 2X Strategy Fun |
| SCAP | AdvisorShares Cornerstone Small Cap ETF |
| SCTBY | SECURITAS A B ADR |
| SD | SandRidge Energy Inc. |
| SEA | Guggenheim Shipping ETF |
| SF | Stifel Financial Corporation |
| SGDJ | ALPS Sprott Junior Gold Miners ETF |
| SGOL | ETFS Physical Swiss Gold |
| SHLD | Sears Holdings Corporation |
| SIG | Signet Jewelers Limited |
| SLRC | Solar Capital Ltd. |
| SLV | iShares Silver Trust |
| SLW | Silver Wheaton Corp. |
| SMLL | Direxion Daily Small Cap Bull 2X ETF |
| SPHB | PowerShares S&P 500 High Beta Portfolio ETF |
| SPLV | PowerShares S&P 500 Low Volatility Portfolio ETF |
| SPY | SPDR S&P 500 |
| SQZZ | Short Squeeze ETF |
| SRTY | ProShares Indices |
| SSTK | Shutterstock, Inc. |
| STRZA | Starz |
| SVVC | Firsthand Technology Value Fund Inc. |
| SWGAY | SWATCH GROUP AG ADR |
| SWM | Schweitzer Mauduit International Inc. |
| SWN | Southwestern Energy Co. |
| TETAA | TETON ADVISORS INC |
| THM | International Tower Hill Mines Ltd |
| TIPS | TIANRONG INTRNET PRO |
| TMOAF | TOMTOM NV AMSTERDAM |
| TMOAY | TOMTOM NV ADR |
| TNA | Direxion Small Cap Bull 3x Shares |
| TRGAF | TRIGON AGRI A/S |
| TRMR | Tremor Video, Inc. (now Telaria) |
| TRNS | Transcat, Inc. |
| TSLA | Tesla Motors Inc. |
| TSN | Tyson Foods Inc. |
| TWM | ProShares UltraShort Russell2000 |
| TZA | Direxion Small Cap Bear 3x Shares |
| UBAAF | URBANA CORP |
| UBG | E-TRACS UBS Bloomberg CMCI Gold ETN |
| UGL | ProShares Ultra Gold |
| UGLD | VelocityShares 3x Long Gold ETN |
| UNP | Union Pacific Corporation |
| URTY | ProShares UltraPro Russell2000 |
| UWM | ProShares Ultra Russell 2000 |
| VIVHY | VIVENDI SA ADR |
| VLKPY | VOLKSWAGEN AG PFD SH |
| VOPKF | KONINKLIJKE VOPAK NV |
| VRX | Valeant Pharmaceuticals International Inc. |
| VTWO | Vanguard Russell 2000 ETF |
| WGBS | WAFERGEN BIO-SYSTEMS |
| WIT | Wipro Limited |
| WLB | Westmoreland Coal Co |
| WMCR | Wilshire Micro-Cap ETF |
| WTW | Weight Watchers International Inc. |
| WYNN | Wynn Resorts Limited |
| XOM | Exxon Mobil Corporation |
| XPL | Solitario Exploration & Royalty Corp |
| ZAGG | ZAGG Inc |
| ZINCQ | Horsehead Holding Corp. |
TWEETS
PERSONAL BLOG
Latest Posts
Work Experience
| Managing Editor | |
| The Black Swan Portfolio | |
| May 2015 - Present (5 years 5 months) | |
|
Seeking downside protection and upside optionality through idiosyncratic truly differentiated investments. |
| Beherend vennoot | |
| Schildpad & De Haas Investeringen | |
| 2015 - Present (5 years 9 months) | |
|
Beherend vennoot van de CV Schildpad en de Haas. De naam verwijst naar de fabel van Aesöp over een haas die een race verliest van een schildpad. |
| Self Employed | |
| De Hass Investments | |
| 2015 - Present (5 years 9 months) | |
|
Independent equity research available through the Seeking Alpha platform: "Off The Beaten Path" covering obscure companies with little or no sell-side coverage on them. Bespoke research for hedge funds / buy side |
| Self Employed | |
| Gosupress | |
| January 2011 - 2015 (4 years 9 months) | |
|
Online publishing / writing / marketing / content. Built out a content portfolio and managed websites. |
Education
| NIBE-SVV | |
| DSI Beleggingsadviseur | |
| 2010 / 2011 | |
| Investments and Securities |
| Amsterdam University of Applied Sciences | |
| 2000 / 2006 | |
| Publishing |
Latest Comments
Why I'm Slashing My S&P 500 Exposure
Really good question Fabrizio. Maybe it's helpful to realize historically the range for the U.S. has been between 35% and 149%. Obviously 132.9% is much closer to the high end of the range.