Husband. Catholic. Investor & writer at AAGresearch. Guided by curiosity, kindness and honesty. Spanish in Andorra. Mountains, history and books.
Andorra la Vella
Joined August 2021
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I went all in on uranium in 2017. By 2020 I was down 50%. I held through it and exited in 2022 with my entire investment portfolio up about 1,000% (Boss Energy +1,452%).
That let me quit my job and invest full time.
Now I share my highest conviction deep value ideas ↓
Alberto Álvarez retweeted
JUST IN: ITALY EXIT TAX
🇮🇹 Italy proposes a 26% exit tax on unrealized investment gains for people leaving the country from 2027.
It’d apply to those with €800k+ in relevant assets who were tax residents for at least 6 of the last 10 years.
I've been warning you: European countries are bankrupt and will try to seize your assets.
The exit is closing.
Alberto Álvarez retweeted
In August I rotated back out of miners, after a rebound, into energy stocks.
Now I’m rotating out of energy into miners. Gold and copper in particular. I think gold defended these levels before and it will again. The setup into 2027 is perfect.
Copper is trading near all-time highs and Chinese premiums are surging. Yet the equities are a bargain. Why? Because of an AI growth scare that never mattered anyways. Copper is a supply story.
When everyone panic sells I buy. This is the way.
Alberto Álvarez retweeted
Sat down with my buddy @lorenz_swen to discuss how to seek out original and differentiated investment ideas. We cover everything from macro to dinosaurs. No stock picks, just a focus on process. Think you’ll enjoy👇👇
How to generate outlier investment ideas – interview with Harris Kupperman
How do you find stocks delivering 9x returns – and quickly dismiss flawed ideas?
Hedge fund manager @hkuppy shares his secrets.
📹 Watch: youtube.com/watch?v=HBKaI4sQ…
🗒️ Read: undervalued-shares.com/weekl…
ALT A masterclass in idea generation - interview with Harris Kupperman
Alberto Álvarez retweeted
The Copper Squeeze is here
Copper is "sold out everywhere."
China's Yangshan premium just hit a record $200+/ton. Buyers are scrambling for metal with LME prices near all-time highs.
Inventories thin. Smelters cutting output. Demand not budging.
#Copper
These are the computers the Spanish government uses to run it's train system
$XP perhaps a 76.5% annualized return was not sustainable or even real?
Returns of the Gladius fund managed by $XP
Either these guys are the new Warren Buffett or they are faking the returns
I bet on the latter, that’s why I am short $XP
All credit to @ResearchGrizzly
Alberto Álvarez retweeted
$GDXJ : -18% in a month
The world mines 118M oz of gold per year
Demand: 161M oz
Yet we haven’t had a discovery year cohort large enough to replace one year of current mine production since 2006
Alberto Álvarez retweeted
Bring on your dirtiest Canadian jr mining shit-cos!! It’s suddenly a bull mkt in BC🇨🇦
Alberto Álvarez retweeted
📌 I 11x'd my net worth in under 10 years with junior mining stocks.
I also got taken to the cleaners trying to be a hero. 3 rules for the exploration part of your portfolio:
1️⃣ Don't be a contrarian on jurisdiction. Be one on the commodity and the timing.
2️⃣ Follow the insiders. Look for people with skin in the game who have "tasted the rocks" before.
3️⃣ Many targets > one all-or-nothing bet.
What are you buying right now? 👇
youtu.be/e-vnF8h__jU?si=wyJ7…
🚨 Not financial advice. Paid client disclosure in the video.
🤝 Paid partnership
Alberto Álvarez retweeted
A few people have been eager to critique my investment views without bothering to look at the record.
So, for the record:
Fidelity Overseas Fund: +27.5% annualized vs. +19.5% benchmark
Teton Partners: +12.6% annualized vs. +7.8% benchmark
Gyrfalcon: +10.3% annualized vs. +4.2% benchmark
That’s not a backtest. That’s an investment record built over decades, through very different markets.
Not 18 months, instead 45 years.
And yes, NOPE was a disaster. I blew it.
I’m always happy to debate ideas with people who have done their homework.
For those who prefer cheap shots to due diligence, here are the numbers.
$GDXJ : -18% in a month
The world mines 118M oz of gold per year
Demand: 161M oz
Yet we haven’t had a discovery year cohort large enough to replace one year of current mine production since 2006
Exploration spending surged. Discoveries didn’t increase
You can print currency.
You cannot print a new gold deposit
This is the setup in gold equities that I think the market is underestimating
