CRESCAT GETS ACTIVIST ON GOLD #59
In this video Crescat Portfolio Managers, Kevin Smith and Tavi Costa, along with Geologic & Technical Director, Quinton Hennigh, provide position updates on various Crescat holdings.
Crescat Gets Activist on Gold #58 Slides
Here are the presentation slides to accompany our Crescat Gets Activist on Gold #58 video introducing Brixton Metals ($BBB.V) and position updates.
CRESCAT GETS ACTIVIST ON GOLD #58
In this video Crescat Portfolio Manager, Tavi Costa, and Portfolio Analyst, Max Fischer, along with Geologic & Technical Director, Quinton Hennigh, introduce Brixton Metals ($BBB.V) and provide position updates.
Crescat Gets Activist on Gold #46 Slides
Here are the presentation slides to accompany our Crescat Gets Activist on Gold #46 video covering Monarca Minerals.
Crescat Get’s Activist on Gold #46
In this video Crescat Portfolio Managers, Kevin Smith and Tavi Costa, along with Geologic & Technical Director, Quinton Hennigh, provide updates on Monarca Minerals ($MMN).
CRESCAT GETS ACTIVIST ON GOLD #38 SLIDES
Here are the presentation slides to accompany our Crescat Gets Activist on Gold #38 video covering Red Pine Exploration.
CRESCAT GETS ACTIVIST ON GOLD #38
In this video Crescat Portfolio Managers, Kevin Smith and Tavi Costa, along with Geologic & Technical Advisor, Quinton Hennigh, tell the story of Red Pine Exploration ($RPX.V).
Tavi Costa on Resource Insider
Tavi Costa discusses why silver is the biggest asymmetrical opportunity in the market today.
Crescat October Performance Update
November 14, 2020 Dear Investors: Crescat’s three hedge funds surged in October to maintain their year-to-date performance leadership within the universe of managers. The S&P 500 declined 2.4% in the same month as US election day neared. All five of the firm’s investment strategies substantially outperformed their benchmarks net of fees in 2020 and since inception. Collectively, the Crescat strategies …
Crescat Turns Activist on Gold – June Investor Letter
June 17, 2020 Dear Investors: The US stock market should not be trading anywhere close to the multiples it is today given the enormity of the macro events that have already unfolded this year: US and Iran being on the brink of war in January with still unresolved problems. The virus pandemic that now has an incredibly …
This Is It
March 23, 2020 Dear Investors: Many of you understandably have been asking for more frequent performance and positioning updates now that we are in a bona fide financial crisis. We are happy to oblige. The good news is that since the market top on February 19 and through last Friday, Crescat Global Macro Fund LP is up approximately 40.5% net …
Blood in the Streets
March 17, 2020 Dear Investors: Are you looking for securities to buy to take advantage of the carnage in the financial markets from the coronavirus? Baron Rothschild, the 18th-century British banker advised that “The time to buy is when there’s blood in the streets, even if it is your own.” He made a fortune buying government bonds in the panic …
Tavi Costa Talks with Jelly Donut Podcast
Tavi built Crescat’s macro model that identifies the current stage of the US economic cycle through a combination of 16 factors. His research has been featured multiple times in financial publications.
Tavi Costa Featured in Barrons
Tavi Costa says opportunity may be knocking for one sector that’s been down in the dumps for a while. Oil-service stocks “have never looked so cheap,” Costa said in a tweet.
Running Hot
Download PDF Version The highly probable and downright inevitable unwind of today’s trifecta of financial asset bubbles: stocks, corporate credit, and Treasury bonds may soon morph into brutal bear market. The end game is unstoppable in our view and approaching fast. The Fed is between a rock and a hard place. It has been printing money like it’s the depth …
The Impending End of A Mania
Read PDF Version An important ratio of commodity versus equity valuations just reached a fresh 50-year low resembling two prior significant cyclical US stock market peaks in 1972 and 2000. Macro Imbalances There is a laundry list of dangerous assets bubbles in the global financial markets today that have built up over a record long US economic expansion: Highest ever …
Kevin Smith Speaks With Silver Bullion TV
Kevin Smith joined SBTV for an update on the inversion of the yield curve, the looming threat from collateralized loan obligations and why silver will be gold on steroids in this bull market.
Kevin Smith on Real Vision | Trade Ideas
Is the 36-year-old currency peg between Hong Kong and the U.S. on the verge of collapse? Kevin Smith explains his short thesis on the Chinese Yuan and Hong Kong Dollar in his most recent Real Vision interview.
Tavi Costa Interviewed on Palisade Radio
Tavi sees the current business cycle as being almost over and is awaiting an overall downturn in equities. Yield curves are inverting in most countries, and in Canada, 90 percent are now inverted.
Bloomberg Cites Crescat Among Top Performing Macro Fund in August
Several macro hedge funds are on track for a banner month in August as fears of slowing global growth and protracted trade tensions sparked a long-awaited resurgence of volatility in currency and credit markets.
MarketWatch Highlights Crescat’s Success With Yuan Short
The stock market has gotten off to a brutal start this month, with the S&P 500 index down about 5% since it started unraveling last Thursday.
Crescat’s Gold Strategy Discussed in Kitco Article
An economic downturn is on its way and the best hedge against a major stock market sell-off is gold, silver, and mining stocks, which are all “widely under-owned” at the moment, said hedge fund Crescat Capital.
Crescat Launches New Gold Strategy
“Precious metals are one of the few pockets of this market offering tremendous value to hedge against extreme monetary policies, bursting asset bubbles, and record global leverage”
Tavi Costa Appears on the “Off The Chain” Podcast
In this conversation, Tavi and Anthony Pompliano discuss Bitcoin, cryptocurrencies, the current U.S. economic markets, China, precious metals, how central bankers handle recessions, and what Tavi thinks is most likely to occur in the macro world over the next few months.
Kevin Smith Appeared On The Contratian Investor Podcast
Kevin Smith of hedge fund firm Crescat Capital in Denver joins the podcast to discuss his views on China and other asset bubbles, which he considers ripe for implosion.
Tavi Costa Speaks With Silver Bullion TV
Tavi Costa joins us on SBTV and shocked us with a plethora of warning signs he has found from his research that the bubble economy has peaked and the next economic meltdown is nearing.
Tavi Costa Shares His Views With CNN
Something happened in the bond market last week that has occurred before five of the past six major market meltdowns.
Kevin Smith and Tavi Costa on Hidden Forces Podcast
Kevin Smith and Tavi Costa speak with Demetri Kofinas on the Hidden Forces podcast and discuss their case for why this market rally is different and how Crescat is positioned for the bear market.
Kevin Smith Interviewed on Real Vision
Kevin Smith, joins Real Vision for his first Trade Ideas interview to discuss his bearish bet on the stock market. He reviews a variety of valuation metrics, highlights the flashing red signals from his macro indicators, and discusses how to make the trade, in this interview with Jake Merl.
Tavi Costa Interviewed on Real Vision
Tavi Costa, makes his Real Vision debut in style — with a bullish trade idea on precious metals. He highlights why it’s finally time for gold to start outperforming, supports his thesis by examining a variety of macro indicators, and discusses how to play the current setup, in this interview with Jake Merl.
Kevin Smith and Tavi Costa on The Meb Faber Podcast
Kevin Smith and Tavi Costa discuss Crescat’s macro views on The Meb Faber Show.
April 2019 Macro Deck
Please see our latest macro presentation.
Kevin Smith Speaks With India Times About Macro Ideas For 2019
Markets do not tend to stop at the median; they tend to go from bubbles to bust and from greed to fear. We are looking at something like a 50% to 70% correction…
Kevin Smith Featured In Bloomberg Article Discussing William Barr Letter and Outlook on S&P 500
Bloomberg News editor Vildana Harjric reached out to Kevin Smith Sunday for his views on how attorney general William Barr’s latest letter on the Mueller report would likely affect S&P 500 futures that evening.
Blow Off Top For Bear Market Rally
March 23, 2019 Dear Investors: Thursday had the feel of a blow-off top for the bear market rally. We are near historic valuations for US stocks across at least eight fundamental measures and at a record late stage in the business cycle. Equity markets appear more stretched relative to underlying deteriorating fundamentals than ever. Micron this week was …
Global Macro Analyst Tavi Costa Interviewed on Bloomberg TV
Crescat’s Global Macro Analyst Tavi Costa discusses macro trade of the year on Bloomberg.
Bear Market Rally Sets Up Opportunity For Crescat Strategies
Dear Investors: There is indeed a business cycle and timing it ahead of key inflection points is key to successful long-term investing. Based on our analysis, we are heading into a bear market in 2019 that will coincide with the start of a global recession that will not be officially acknowledged until well after it began. For the following reasons, …
Global Macro Fund ranked #1 performer in Macro category for December and full-year 2018 by BarclayHedge
The Crescat Global Macro Fund was ranked #1 performer in Macro category for December and full-year 2018 by BarclayHedge
CRESCAT GLOBAL MACRO ANALYST TAVI COSTA QUOTED IN FINANCIAL POST ARTICLE
How can Canada have such a tight labor market at the same time that companies are not making any money?
Strong 2018 for Crescat – Macro Opportunities Abound
Crescat Global Macro Fund and Crescat Long/Short fund delivered strong returns for both December and full year 2018 in a difficult market. Based on Bloomberg reporting, Crescat had the number 1 and 2 performing US hedge funds in December and the number 1 and 3 performing US hedge funds for 2018. We are pleased to announce the official performance for …
Crescat Global Macro Analyst Tavi Costa Quoted In Bloomberg Article
Tavi Costa shared his views about the Canadian economy.
2 of World’s Top Funds in 2018 per Bloomberg
“As the dust settles on a troubled year for hedge funds, some managers escaped the wreckage and even thrived”, according to Bloomberg who recognized Crescat for its leading performance among hedge funds globally in 2018: https://www.bloomberg.com/news/articles/2019-01-04/hedge-funds-returning-20-show-all-is-not-lost-for-smart-money
Global Macro Fund Ranked #2 in Macro Category For October by BarclayHedge
The Crescat Global Macro Fund was ranked #2 in Macro category for October performance by BarclayHedge.
Crescat Global Macro Analyst, Tavi Costa Featured on Bloomberg
Chasing utilities is a classic development that happens at market tops.
Crescat November Performance Update
Crescat Tops the Chart in October
Dear Fellow Investors, October was a frightening month for investors around the world. From Hong Kong to New York, stock markets were slammed by a wave of fears about slowing growth, trade wars, and higher interest rates. The Nasdaq took the brunt of the damage. Stocks like Amazon and Netflix both lost around one-fifth of their value as the Nasdaq …
Crescat Delivers Strong October Results
For the third time this year, Crescat Global Macro and Crescat Long/Short hedge funds were featured among Bloomberg’s monthly top U.S. hedge fund performers. See October’s Bloomberg Hedge Fund Brief. Year-to-date and long-term performance remain strong as our macroeconomic themes and proprietary models continue to uncover successful investment opportunities. © 2018 Crescat Capital LLC Case studies are included …
Crescat Hedge Funds Off to a Roaring Start in October
As September ended, so did the third quarter with diverging global financial markets: US stock indices marched to new highs while global stocks ex-US headed sharply downward. Emerging market currencies also faltered.
Crescat Global Macro Analyst, Tavi Costa Highlighted in Bloomberg Markets Article
Longest bull market ever. Two trillion-dollar companies. Now you can add strongest rally ever during a tightening cycle to the list of milestones for U.S. stocks.
Global Macro Fund Ranked #3 in Macro Category for June by Barclayhedge
The Crescat Global Macro Fund was ranked #3 in the Macro category for June 2018 performance
Crescat July Estimates
China equity and yuan shorts worked well for Crescat’s hedge funds in July although US equity shorts and the gold longs held back the performance. We expect US equity shorts and gold longs to be changing soon in our favor.
Crescat Hedge Funds Highlighted in Bloomberg Brief
Both Crescat Hedge Funds were highlighted among the top performing Funds in the June Bloomberg Hedge Fund Brief.
Crescat Profits from Yuan Devaluation in June
In our last quarterly letter, we showed five macro imbalances that were setting the Chinese yuan up for a substantial and imminent devaluation. Since then, our yuan devaluation theme has indeed started to play out again, like what began in 2015.
Crescat Strategies Offer Opportunity to Capitalize on Coming Downturn
We strongly believe that the global macro investment cycle is turning down right now and that it is a critical time to take investment action if you are not already prepared.
Crescat May Update – Strong Performance Across All Strategies
Crescat’s hedge funds and long-only strategy performed well in May as cracks began to show in global financial markets.
Global Macro Fund Ranked #1 in Macro Category for February by BarclayHedge
Crescat Global Macro Fund was ranked #1 in the Macro category for February 2018 performance.
Crescat February Performance Featured in Bloomberg Hedge Fund Brief
Crescat Global Macro and Long/Short hedge funds were featured among top hedge fund performers for February in the Bloomberg Hedge Fund Brief.
February Mid-month update: Crescat Global Macro up 11.7% Since Market Top
All Crescat strategies have outperformed the market significantly during the recent decline.
Crescat Quoted in Bloomberg Markets Magazine
Kevin Smith expressed Crescat’s outlook on China in a recent Bloomberg Markets Magazine.
Kevin Smith Appears on Bloomberg TV
Crescat’s Chief Investment Officer Kevin Smith discusses his outlook on China’s Currency and Credit issues.
Happy Holidays from Crescat Capital – Includes New Charts
Investors today are the most net long and the most bullish they have ever been. These set-ups happen but a few times in a hedge fund manager’s career.
It’s 1929 – What Would Joe Kennedy Do?
As we showed in our recent quarterly letter, there are numerous parallels in the market today to 1929 and other historic market peaks. It is times like now, that the financial success story of Joseph P. Kennedy should be particularly inspiring.
Crescat Capital Quarterly Letter Investor Letter Q3 2017
In our most recent quarterly letter, we show the overvaluation of US large cap stocks across six comprehensive dimensions.
Kevin Smith to Speak at World Wealth Creation Conference
Crescat’s Chief Investment Officer Kevin Smith will speak at the World Wealth Creation Conference in Singapore on November 28, 2017. Watch the conference promotional video.
Kevin Smith Interviewed on Bloomberg TV
Crescat’s Chief Investment Officer Kevin Smith discusses his outlook on China’s Currency and Credit issues.
Crescat Featured in Bloomberg
Crescat’s China Currency & Credit Bubble thesis was featured in Bloomberg, including quotes from CIO Kevin Smith.
Crescat Q1 2017 Investor Letter
By keeping interest rates on the world reserve currency too low for too long, the Federal Reserve has created speculative asset bubbles in far-reaching areas of the globe.
Crescat Large Cap Awarded 5-stars by Morningstar
Crescat Large Cap Composite earned a 5-Star Overall Morningstar Rating™ as of 3/31/17. See Morningstar Disclosures.
Crescat Q1 2017 Conference Call
Kevin Smith and the Investment Team outline our Q4 2016 attribution and 2017 outlook.
Bloomberg Story Highlights Crescat
Kevin Smith was interviewed on Crescat’s recent positioning and outlook.
Kevin Smith Featured on CNBC
Crescat’s Kevin Smith was recently featured on CNBC’s Halftime Report, where he discussed our views on China
Crescat Capital Featured in Barron’s
Crescat’s Chief Investment Officer Kevin C. Smith was featured in Barron’s for a hedge fund profile. In the article, Kevin discusses our recent success with our China Currency and Credit Bubble Theme, as well as the origins of the firm and our proven investment process.