Crescat News & Updates

Crescat November Research Letter

November 22, 2020 - The structure of the global economy today is built on the incessant yet tenuous reliance on monetary and fiscal stimulus. To put it bluntly, policy makers are in a pickle. In accommodating struggling enterprises at large by piling new debt onto them, they have traded off future organic growth for economic zombification. At the same time, their persistent monetary easing to prolong the expansion of the business cycle has led to historic imbalances in valuations that pose serious destabilizing risks. But leverage and multiples cannot grow to the sky forever. The days of risk parity strategies where investors pile into levered long bond portfolios alongside broad equity portfolios are numbered. Learn More »

Crescat October Performance Update

November 13, 2020 - 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. Learn More »


November 5, 2020 - We share our activist position in GBM Resources located in Queensland. Learn More »

Top 3 trades to weather post-election storm and market bubble

November 3, 2020 - Over-extended equities valuations, excellent fundamentals and balance sheets for miners, and the volatility that election results would bring to stocks are contributing factors to the following three trade ideas... Learn More »

Tavi Costa: Silver, the World’s Cheapest Metal

October 28, 2020 - Tavi discusses how the only way out of the global debt burden is through further debasement and a continued race to the bottom for currencies. Equity yields are down in real terms, and this will drive demand for safe monetary assets like gold and silver. Precious metals could do well in either an inflationary or deflationary environment. Learn More »


October 22, 2020 - We discuss our activist position in Defiance Silver Corporation located in Zacatecas and Michoacán, Mexico. Learn More »


October 16, 2020 - We disclose our activist position in NV Gold and provide updates on other previously disclosed deals. Learn More »


October 8, 2020 - We introduce our private placement deal in Timberline Resources. Learn More »

Macro Case For Precious Metals

September 24, 2020 - Tavi Costa breaks down the Macro Case for Precious Metals. Learn More »

The Reckoning Is Upon Us

September 24, 2020 - Decades of fiscal profligacy are culminating in an explosion of government debt that is poised to bring simmering monetary debasement to a boiling point. Learn More »

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