Quipus Capital

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

7

2

1

Lithium review - 4Q25

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

Dec 7, 2025

9

4

2

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

1

Olefins Primer III - LyondellBasell & Dow

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

Nov 9, 2025

24

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2

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

18

4

3

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

5

2

2

September 2025

Brazil monetary and credit cycle review

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

Sep 27, 2025

8

5

2

Olefins Primer Series 1: Intro

15-page dive into the heart of the Chemicals industry

Sep 13, 2025

14

3

2

August 2025

Four Japanese Chemical Small Caps

Growth, margin, yield and balance sheet in 深值国

Aug 31, 2025

10

2

1

3 Cheap Chinese Chemicals

Potential quality and certain deep value in Chinese specialty chemicals

Aug 17, 2025

15

2

US deficits: much more than manufacturing

Analyzing the exposure of the US to its own trade deficits, going well beyong manufacturing and jobs, into credit, demand and productivity.

Aug 3, 2025

14

1

4

July 2025

Salmon industry update

Recapping the cycle and developments of the most profitable fish in the sea.

Jul 20, 2025

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