Quipus Capital | Substack

1Q25 and April Portfolio Review

After every quarter, I provide a review of the performance and positions of my two personal accounts (IBKR and Argentina).

Apr 27

Most Popular

A Framework For The Cyclical Industries

Nov 2, 2024

China’s Model: Doomsday or Escape Velocity?

Sep 15, 2024

Footwear primer (and US companies)

Sep 8, 2024

A Basic Framework for Growth Stocks and Industries.

Dec 7, 2024

Access dozens of deep-researched primers

Recent posts

Trade and Capital at the Crossroads of War

Global imbalances and the forces that may soon reshape them

Apr 6

Chemical Series I: Intro to Chemicals

Basic segmentation, economics, sub-industries and players of the most fundamental and violently cyclical industry.

Mar 30

Abercrombie & Fitch (ANF): more than meets the eye

A GARP company or a falling consumer-discretionary knife?

Mar 9

Economics, cycle dynamics, players and plays of the white oil.

Feb 23

Framework

Trade and Capital at the Crossroads of War

Global imbalances and the forces that may soon reshape them

Apr 6

A Basic Framework for Growth Stocks and Industries.

Tools for dealing with high multiples, uncertainty, and qualitative data.

Dec 7, 2024

A Framework For The Cyclical Industries

How to understand, model and find opportunities among the cyclicals.

Nov 2, 2024

China’s Model: Doomsday or Escape Velocity?

Rethinking the Chinese investment-led model from the basics of business cycle theory.

Sep 15, 2024

Industry report

Chemical Series I: Intro to Chemicals

Basic segmentation, economics, sub-industries and players of the most fundamental and violently cyclical industry.

Mar 30

Economics, cycle dynamics, players and plays of the white oil.

Feb 23

IT Sector Overview

A basic presentation of the fastest growing sector in the economy.

Dec 29, 2024

Brazil Capital Markets Primer

Stock exchanges, investment banks, insurers and payment processors.

Nov 16, 2024

A Framework For The Cyclical Industries

How to understand, model and find opportunities among the cyclicals.

Nov 2, 2024

Mexico Industrials: Bird's-Eye View

Oligopolies, compounders, and Burry plays among 20+ industrials.

Oct 20, 2024

Footwear primer (and US companies)

Fallen angels, compounders, nosebleed growth, and deep value in the realm of shoes.

Sep 8, 2024

Brazil Education Primer

Great economics, overinvestment, and leverage

Jul 27, 2024

Emerging Markets

XP: the leading Brazilian retail broker

A 20-page primer on one of the companies best positioned to capture a Brazilian equities recovery.

Feb 2

Chile 2025 Primer: will Chile return to the fold?

Economics, politics, and ADRs.

Jan 19

Mexico Industrials: Bird's-Eye View

Oligopolies, compounders, and Burry plays among 20+ industrials.

Oct 20, 2024

China’s Model: Doomsday or Escape Velocity?

Rethinking the Chinese investment-led model from the basics of business cycle theory.

Sep 15, 2024

Brazil Education Primer

Great economics, overinvestment, and leverage

Jul 27, 2024

A Short Primer on Investing in Brazilian Stocks

A concise Brazilian macroeconomy framework, ways to invest, and analysis of the main sectors listed in ADRs

Jun 15, 2024

Don't Let Milei's Mania Blind You: Argentina's Economy Faces Critical Challenges

There is a lot of global excitement around Milei’s strong rhetoric and policies.

Apr 14, 2024

LatAm Food Products: Bird's Eye View

I have been delving into Latin American food companies in the past month and a half.

Jan 31, 2024

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