Quipus Capital

Suzano + Pulp and Paper Primer

The Brazilian hardwood pulp leader at a cyclical cross roads

Feb 15

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Suzano + Pulp and Paper Primer Annex

This Annex for the Suzano + Pulp and Paper Primer contains additional information valuable for readers who want to double-click on specific factors in…

Feb 15

2

US Trucking Primer II : Truckload Carriers Overview

Continuing the analysis of the trucking industry and cycle from two weeks ago, this article provides an overview of the truckload carrier segment.

Feb 1

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January 2026

US Trucking Primer I: Cycle basics

Death on the Ridge Road - Grant Wood - 1935 (Wikimedia)

Jan 18

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4Q25 Portfolio Review

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

Jan 4

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December 2025

Lithium majors: an asset by asset profitability analysis

Disentangling the operations of Ganfeng, Tianqi, Albemarle, and SQM asset by asset for different long-term lithium price scenarios.

Dec 21, 2025

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Lithium review - 4Q25

Sentiment changes from glut to shortage, does it have any battery left?

Dec 7, 2025

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November 2025

Capital-spread businesses: the Localiza example

As part of a review of Brazilian names, I studied a vehicle-renting company called Localiza, recommended by some readers.

Nov 23, 2025

4

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Olefins Primer III - LyondellBasell & Dow

American olefin pure-plays: capital allocation, markets, competitiveness, liquidity and scenarios.

Nov 9, 2025

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October 2025

Olefins II: Big Oil & China, the cycle disruptors

How the search for markets for a post-gasoline world disrupts the olefins cycle.

Oct 26, 2025

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3Q25 portfolio review

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

Oct 11, 2025

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September 2025

Brazil monetary and credit cycle review

Interest rates, money supply, credit growth, NPLs, and credit exposures by bank

Sep 27, 2025

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