L2capital - Podcast Details

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Sports Marketing News Daily Renowned Private Equity Firm L2 Capital Strengthens Robbins Sports Surfaces' Leadership with Key Board AppointmentsL2 Capital, a private equity firm renowned for its strategic investments, has announced the appointment of three distinguished industry leaders to the board of Robbins Sports Surfaces. This move is a concerted effort by L2 Capital to strengthen Robbins Sports Surfaces' market presence and drive further market share gains.Robbins Sports Surfaces is a prominent player in the design and manufacturing of high-performance sports flooring systems, which are used worldwide in major sports venues and athletic facilities. The company is recognized for its innovation and commitment to quality, making it a trusted partner for athletic organizations....

2024-12-0902 min

Fernando Ulrich A oportunidade que ninguém está vendoNessa conversa que tive com o Marcelo Lopez, da L2Capital, você vai conhecer uma nova tese de investimento assimétrica com muitas semelhanças à tese do urânio. Os carros elétricos não estão atingindo as expectativas para substituir os à combustão e isso pode gerar um descasamento da oferta e demanda de metais essências para o funcionamento destes veículos. Para assistir essa conversa na íntegra e se manter atualizado sobre a tese da cannabis e do urânio, torne-se membro Follow the Money e tenho acesso imediato ao conteúdo completo.

2024-08-0955 min

L2 Capital Podcast #3: Aaron Edelheit - CannabisIn this episode, Marcelo Lopez spoke to cannabis investor Aaron Edelheit. Aaron has been doing extensive research in the cannabis sector and has a knack for opportunities, like the purchase of properties after the GFC. Aaron mentioned the similarities between the cannabis investment now and the property market in 2009. He also talked a lot about interstate commerce, which he views as a hindrance for the sector, and probably the most important thing at the moment. Besides, Aaron gave his opinion on legislation, schedule review, illegal production and much more.

2023-07-2042 min

L2 Capital Podcast #2: Jesse RedmondIn this episode, Marcelo Lopez had a very interesting conversation with Jesse Redmond, Head of Cannabis Research at Water Tower Research. Jesse discussed the current situation of the cannabis market in the USA and the investment perspectives. Redmond also explained the role states play in this universe, the existing political catalysts, including SAFE Banking Act, schedule review, tax-related issues, and what to expect from the Garland memo.

2023-07-1944 min

L2 Capital Podcast #1: Jim GrantIn this episode, Marcelo Lopez had a very interesting conversation with Jim Grant, founder and editor of Grant’s Interest Rate Observer. Jim talked about the many risks that are present in the markets today, from private equity to high yield bonds. Besides, Jim gave his views on interest rates and inflation, and its potential impacts in the economy. He also lecture us about his preferred commodity, gold, and talked about nuclear energy and uranium. Last but not least, he left us with 3 excellent book recommendations.

2023-07-1931 min

Beyond Consulting 62: From Consulting to Private Equity AssociateIn this week's episode of Beyond Consulting, we welcome David Taube, former consultant at BCG, and current Associate at L2 Capital. David joins us to talk about his journey from entrepreneurship, to BCG, and ultimately to private equity. Each week, we speak with leaders in venture capital, private equity, investment banking, and consulting to explore the various career options after leaving management consulting firms like McKinsey, Bain, BCG. L2 Capital: https://l2capital.net/ ECA: https://www.eca-partners.com/ Beyond...

2023-05-0924 min

Not So Private Equity Season 1 Episode 7: David Taube - L2 Capital Partners (Special Feature)In this week's episode of Not So Private Equity, we are sharing a story from our sister podcast, Beyond Consulting. In the show, Steven Haug from ECA Partners hosts David Taube, Associate at L2 Capital Partners. In this episode, you'll hear David's journey from entrepreneurship, to BCG, and ultimately to private equity. Each week, we speak with leaders in private equity to learn the ins-and-outs of the market and keep our pulse on the latest trends in the sector. L2 Capital: https://l2capital.net...

2023-03-1625 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Agosto de 2022L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Agosto de 2022 "A grande notícia do mês veio, sem dúvida, do Japão. O país asiático anunciou que quer reiniciar as operações em mais 7 reatores já a partir do próximo ano, o que significa que metade dos reatores em condições de iniciar a produção de energia estarão aptos a fazê-lo a partir de meados de 2023. Além disso, o Japão deve se juntar à lista de países que estão dando extensõe...

2022-09-1206 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Julho de 2022L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Julho de 2022 "Apesar da alta do urânio e da cannabis esse mês, continuamos vendo um descompasso enorme entre o preço dos ativos que estamos comprando e o valor deles, e gostamos disso. Vamos continuar seguindo esse caminho e investindo pensando no longo-prazo. É importante ressaltar que, em função de uma maior alocação em teses de investimento assimétricas como o urânio e cannabis, esperamos que nosso Fundo se torne mais volátil.” Link da carta: htt...

2022-08-0506 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Junho de 2022L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Junho de 2022 "Focamos em áreas que dominamos, como urânio e cannabis, e não nos preocupamos com os preços no curto-prazo, que é dominado pela aleatoriedade e por forças que têm pouca ou nenhuma relação com os fundamentos. Nossas análises nos levam a crer que essas teses de investimento são assimétricas e possuem uma excelente relação risco x retorno.” Link da carta: https://www.l2capital.com.br/wp-content/uploads/2022/07/L2AlphaGlobal-Ne...

2022-07-1207 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Maio de 2022L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Maio de 2022 "Mais uma vez, gostaríamos de ressaltar que não somos gestores macro, porém não podemos deixar de notar a situação mundial. Os ativos de risco (ações, criptomoedas, mercado imobiliário, etc) subiram muito acima do normal por causa da impressão desenfreada de dinheiro por parte dos bancos centrais. Agora que eles estão enxugando o excesso de liquidez e subindo a taxa de juros, vamos ter um mundo bem diferente à frente e, como sempre...

2022-06-0706 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Abril de 2022L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Abril de 2022 "Nosso fundo teve uma performance fraca esse mês, devido à queda abrupta e forte do urânio, nosso principal investimento. Essa queda foi amenizada pela nossa posição em dólar e pelo short que temos no Russell 2000. Apesar disso, estamos bem tranquilos e confiantes no desempenho do fundo no longo-prazo. A tese de investimento em urânio é bem simples e se trata de oferta e demanda. Enquanto a demanda for maior que a oferta, que é o caso atualment...

2022-05-0709 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Março de 2022L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Março de 2022 "O fato de o Brasil ser um grande produtor de commodity, de haver uma rotação global de alocação de ações growth para value, de haver um fluxo de capital de outros mercados emergentes e de o país estar se aproximando do fim do ciclo de aperto monetário, enquanto outros países estão apenas no começo, tem contribuído para um desempenho positivo da bolsa e da moeda brasileira.” Link da carta...

2022-04-1208 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Fevereiro de 2022L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Fevereiro de 2022 "Com relação ao urânio, nosso maior investimento no momento, continuamos tranquilos e vendo uma demanda muito maior que a oferta. Esperamos que o preço suba nos próximos anos e que atinja patamares nos quais oferta e demanda possam se equilibrar.” Link da carta: https://www.l2capital.com.br/wp-content/uploads/2022/03/L2AlphaGlobal-NewsletterFevereiro2022PORT.pdf ---------------------------------------------------------------------------------------- Siga nosso Instagram: https://www.instagram.com/cartasdosfundos Canal no Telegra...

2022-03-0908 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Janeiro de 2022L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Janeiro de 2022 "A alta no preço do urânio que esperamos não acontecerá do dia para a noite e não será um caminho retilíneo para a direita e para cima no gráfico – estamos acostumados com volatilidade e não queremos trocar oscilação por rentabilidade no longo-prazo. Na verdade, como costumamos dizer, a volatilidade é o preço que pagamos para obtermos um retorno fora do comum no longo-prazo.” Link da carta: https://www.l2capital.com.br...

2022-02-1108 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Dezembro de 2021L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Dezembro de 2021 "Apesar do receio inicial com a nova cepa do coronavírus, os ativos de risco tiveram um bom desempenho, com a bolsa americana batendo sucessivos recordes de alta. Fatores que mencionamos na última carta, como o indicativo de que Jerome Powell deve acelerar a retirada de estímulos da economia mais cedo e o fato de o Congresso Americano não ter aprovado mais um pacote fiscal para o programa Build Back Better, ficaram em segundo plano e não...

2022-01-1110 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Novembro de 2021L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Novembro de 2021 "Fatores externos e internos contribuíram para mais um mês de retornos negativos na renda variável brasileira. No front externo, uma nova cepa do coronavírus acendeu uma luz de alerta, justo quando a autoridade monetária americana envia sinais de redução de estímulos diante de uma inflação perdurantemente em ascensão, o que elevou os prêmios de risco.” Link da carta: https://www.l2capital.com.br/wp-content/uploads/2021/12/L2AlphaGlobal...

2021-12-1010 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Outubro de 2021L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Outubro de 2021 "Com relação ao urânio, poderíamos falar bastante, mas apenas repetiremos as palavras de Tim Gitzel, CEO da Cameco, segunda maior produtora mundial da commodity no final de outubro, durante o call da empresa: “I would say that the fundamentals of our business are as positive as we have seen in over a decade and maybe ever”; em tradução livre: “Eu diria que os fundamentos do nosso negócio são os mais positivos que vimos em mais...

2021-11-0809 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Setembro de 2021L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Setembro de 2021 "Estamos prevendo um crash gigantesco no mercado em breve? Não, de maneira alguma. Aliás, isso é praticamente impossível de prever e só fica claro uma vez que passamos por ele (investir pelo retrovisor é sempre mais fácil). Estamos somente alertando para um desequilíbrio fortíssimo entre risco e retorno, com o primeiro (risco) batendo recordes e o segundo (retorno) caindo significativamente – essa assimetria é exatamente o oposto do que buscamos e das modalidades de investimento das quais gostam...

2021-10-1208 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Agosto de 2021L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Agosto de 2021 "Como mencionamos na nossa carta do mês passado, investimos uma parte do capital em ações de empresas de transporte marítimo (shipping), mais especificamente em dry bulk, que transportam carvão e minério de ferro, dentre outras commodities. As ações tiveram uma excelente rentabilidade esse mês, mas os fretes subiram ainda mais e continuamos posicionados[...]" Link da carta: https://www.l2capital.com.br/wp-content/uploads/2021/09/L2AlphaGlobal-NewsletterAgosto2021PORT.pdf ...

2021-09-0809 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Julho de 2021L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Julho de 2021 "O segundo semestre do ano começou sem grandes surpresas na superfície, mas vimos alguns movimentos extraordinários no mercado de commodities, com destaque para o minério de ferro, o gás natural, o café e o milho.[...]" Link da carta: https://www.l2capital.com.br/wp-content/uploads/2021/08/FIM-julho-21.pdf ---------------------------------------------------------------------------------------- Siga nosso Instagram: https://www.instagram.com/cartasdosfundos Canal no Telegram: https://t.me/cartasdosfundos

2021-08-0609 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Junho de 2021L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Junho de 2021 "O mercado local teve que lidar com elevada volatilidade ao longo do mês de junho diante de diferentes fatores internos e externos. No front externo, notícias de uma nova cepa do Covid-19, denominada delta, gerou temor, assim como as sinalizações de preocupação com a inflação crescente nos EUA por parte do Fed.[...]" Link da carta: https://www.l2capital.com.br/wp-content/uploads/2021/07/FIM-junho-21.pdf ---------------------------------------------------------------------------------------- Siga nosso In...

2021-07-1312 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Maio de 2021L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Maio de 2021 "O adágio “sell in May and go away” se mostrou válido, pelo menos por enquanto, somente para as criptomoedas, que desmoronaram esse mês, com destaque para o Bitcoin, que caiu cerca de 35%. Como todos os nossos investidores sabem, continuamos gostando das criptomoedas, em especial do Bitcoin, mas esperávamos uma correção mais forte desde o começo do ano, quando vendemos toda a nossa posição.[...]" Link da carta: http://l2capital.com.br/wp-con...

2021-06-0809 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Abril de 2021L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Abril de 2021 "Estamos focando nossas atenções na maior oportunidade de investimento que já vimos, o urânio, e assim continuaremos.[...]" Link da carta: http://l2capital.com.br/wp-content/uploads/2021/05/L2-Alpha-Global-Abril-2021.pdf ---------------------------------------------------------------------------------------- Siga nosso Instagram: https://www.instagram.com/cartasdosfundos Canal no Telegram: https://t.me/cartasdosfundos

2021-05-0809 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Março de 2021L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Março de 2021 "Observamos uma pequena divergência nos índices acionários esse mês. Enquanto o Dow Jones e S&P500 subiam 6,6% e 4,2% respectivamente, o Nasdaq, índice que reune as empresas de tecnologia, subia apenas 0,4%. O Ibovespa também aproveitou a onda das valorizações das empresas da “velha economia” e subiu 6% em março.[...]" Link da carta: http://l2capital.com.br/wp-content/uploads/2021/04/L2-Alpha-Global-Marco-2021.pdf ---------------------------------------------------------------------------------------- Siga nosso Instagram: https://www.instagram...

2021-04-0910 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Fevereiro de 2021L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Fevereiro de 2021 "Apesar da forte alta registrada no início de fevereiro, os índices acionários recuaram bastante no final do mês, sem, no entanto, ser o suficiente para que fechassem no vermelho.[...]" Link da carta: http://l2capital.com.br/wp-content/uploads/2021/03/L2-Alpha-Global-Fevereiro-2021-1.pdf ---------------------------------------------------------------------------------------- Siga nosso Instagram: https://www.instagram.com/cartasdosfundos

2021-03-0612 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Janeiro de 2021L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Janeiro de 2021 "Quase todos os principais índices acionários apresentaram declínio em janeiro, com exceção do Nasdaq, que reune as empresas de tecnologia. Esse movimento não foi diferente no Brasil, que viu seu principal índice cair 3,3% em reais. O dólar voltou a subir, atingindo R$5,47 no final do mês.[...]" Link da carta: http://l2capital.com.br/wp-content/uploads/2021/02/L2-Alpha-Global-Janeiro-2021.pdf ---------------------------------------------------------------------------------------- Siga nosso Instagram: https://www.instagram.com/carta...

2021-02-0514 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Dezembro de 2020L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Dezembro de 2020 "No mercado de urânio, aquele em que focamos grande parte do nosso tempo e energia, muitas coisas aconteceram. A primeira delas foi que, em razão da pandemia, algumas minas suspenderam temporariamente a produção em 2020. Como não se pode desligar um reator nuclear da noite para o dia, eles continuaram operando e consumindo urânio, enquanto a produção do insumo era interrompida. Isso fez com que o preço da commodity subisse.[...]" Link da c...

2021-01-0817 min

L2 Capital Podcast #35: Mark Nelson - Energy and ESGIn today's episode, Marcelo López spoke with Mark Nelson, executive director of the Radiant Energy Fund, a non-profit organization focused on the energy market. Mark is a nuclear engineer who started his career working with the famous Michael Shellenberger, author of the book “Apocalypse Never” and a great defender of nuclear energy as a source of clean and sustainable energy. Nelson spoke about ESG investments – these are investments in line with best practices regarding environmental, social and corporate governance aspects. Mark questioned the ESG title that giants in a few sectors, especially technology, claim they ho...

2020-12-1137 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Novembro de 2020L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Novembro de 2020 "Obviamente o Brasil não foi o único beneficiado dessa tomada de risco. Países como Rússia, Turquia e vários outros emergentes receberam influxos de recursos provenientes, principalmente, de fundos passivos[...]" Link da carta: http://l2capital.com.br/wp-content/uploads/2020/12/L2-Alpha-Global-Novembro-2020.pdf ---------------------------------------------------------------------------------------- Siga nosso Instagram: https://www.instagram.com/cartasdosfundos

2020-12-0511 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Outubro de 2020L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Outubro de 2020 "Uma consequência imediata dos ajustes dos portfólios de fundos passivos e de pensão à luz do ESG é um enorme fluxo vendedor de alguns ativos[...]" Link da carta: http://l2capital.com.br/wp-content/uploads/2020/11/L2-Alpha-Global-Outubro-2020.pdf

2020-11-0712 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Setembro de 2020L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Setembro de 2020 "Deveremos ver, a partir de agora, o que realmente acontecerá com a economia. Com 26 milhões de americanos recebendo algum tipo de auxílio do Estado, julgamos ser prematuro já dar a volta olímpica e dizer que o pior realmente ficou para trás.[...]" Link da carta: http://l2capital.com.br/wp-content/uploads/2020/10/L2-Alpha-Global-Setembro-2020.pdf

2020-10-0811 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Agosto de 2020L2 Capital Partners - www.l2capital.com.br Carta do L2 ALPHA GLOBAL - Agosto de 2020 Link da carta: http://l2capital.com.br/wp-content/uploads/2020/09/L2-Alpha-Global-Agosto-2020.pdf

2020-09-0918 min

L2 Capital Podcast #34: Brandon Munro - UraniumIn today's episode, Marcelo López spoke with Brandon Munro, CEO of Bannerman Resources, a company listed on the Australian stock exchange, ASX, focused on the exploration and development of uranium mines in Namibia. Brandon, a frequent participant in the L2 Capital podcasts, returned to discuss important topics such as the restart of the Cigar Lake mine, the 20% cut in Kazatomprom's estimated production for 2022, the World Nuclear Association (WNA) Symposium, the latest developments in the spot market, the situation in Iran at the moment and the latest news from Bannerman Resources. Marcelo had already mentioned i...

2020-08-2629 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Julho de 2020L2 ALPHA GLOBAL FIM CP O FUNDO tem como objetivo proporcionar valorização de suas cotas acima do CDI no longo prazo, por meio da aplicação de seus recursos em oportunidades identificadas pela GESTORA, no mercado de renda fixa, variável, juros, dívida e internacional. O processo de investimento definido pela GESTORA utiliza modelos proprietários baseados em análise macro e fundamentalista, considerando critérios qualitativos e quantitativos. L2 Capital - Carta do L2 ALPHA GLOBAL - Julho de 2020 http://l2capital.com.br/wp-content/uploads/2020/08/L2-Alpha-Global-Julho-2020.pdf

2020-08-1811 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 ALPHA GLOBAL - Junho de 2020L2 ALPHA GLOBAL FIM CP O FUNDO tem como objetivo proporcionar valorização de suas cotas acima do CDI no longo prazo, por meio da aplicação de seus recursos em oportunidades identificadas pela GESTORA, no mercado de renda fixa, variável, juros, dívida e internacional. O processo de investimento definido pela GESTORA utiliza modelos proprietários baseados em análise macro e fundamentalista, considerando critérios qualitativos e quantitativos. L2 Capital - Carta do L2 ALPHA GLOBAL - Junho de 2020 http://l2capital.com.br/wp-content/uploads/2020/07/L2-Alpha-Global-Junho-2020-1.pdf

2020-08-0114 min

Cartas dos Fundos de Investimentos L2 Capital - Carta do L2 Internacional - Junho de 2020A L2 Capital Partners (L2 Internacional) faz a gestão de um Hedge Fund nas Bahamas e um ETP (Exchange Traded Product) na Áustria. L2 Capital - Carta do L2 Internacional - Junho de 2020 http://l2capital.com.br/wp-content/uploads/2020/07/L2InternationalFund-NewsletterJUNHO2020PORTWebsite.pdf

2020-08-0118 min

L2 Capital Podcast # 33B: Fernando Ulrich e Tavi Costa – economia e finançasNo episódio de hoje, segunda parte de uma conversa que foi dividida em duas, Marcelo López conversou com Fernando Ulrich, sócio da Liberta Investimentos, e com Otávio Costa, mais conhecido como Tavi, portfolio manager da Crescat Capital. Marcelo começa falando do atual estado dos mercados e de uma possível bolha que está se formando nas bolsas pelo mundo afora, especialmente após a entrada mais expressiva do varejo. López cita o exemplo da Tesla e compara o patrimônio de Warren Buffett com o de Elon Musk, sugerindo que isso pode ser u...

2020-07-1845 min

L2 Capital Podcast #33 (A): Fernando Ulrich e Tavi CostaNo episódio de hoje, primeira parte de uma conversa que foi dividida em duas, Marcelo López conversou com Fernando Ulrich, sócio da Liberta Investimentos, e com Otávio Costa, mais conhecido como Tavi, portfolio manager da Crescat Capital. Tavi começa discutindo sobre os 3 itens que ele e a Crescat estavam acompanhando desde o ano passado: a situação na China, os metais preciosos e a bolha nos mercados internacionais. Ele fala sobre sua expectativa em torno dos estímulos monetários e discorre sobre o impacto disso nos metais preciosos. Fernando completa...

2020-07-1534 min

L2 Capital Podcast #32: Brandon Munro - UraniumIn today's episode, Marcelo López spoke to Brandon Munro, CEO of Bannerman Resources, a company listed on the Australian stock exchange, ASX, focused on the exploration and development of uranium mines in Namibia. Brandon, who has participated in L2 Capital's Podcasts # 05, # 14 and # 18, returned to discuss the Russian Suspension Agreement (RSA), the Iran waivers and the outcome of the Nuclear Fuel Working Group (NFWG). Munro starts by explaining what the Russian Suspension Agreement (RSA) is in a very clear and objective way. Then, when asked about a potential disruption in the supply of nuclear fuel to the U...

2020-06-1033 min

L2 Capital Podcast #31: Rodrigo Constantino - economia e política no BrasilNo episódio de hoje, Marcelo López conversou com Rodrigo Constantino, chairman do Instituto Liberal, autor de vários livros famosos e comentarista no programa 3 em 1 na Jovem Pan. Rodrigo começa falando sobre os efeitos econômicos do isolamento e distanciamento social causados pela pandemia do coronavírus no mundo. Em seguida, ele que já trabalhou com o atual ministro da economia Paulo Guedes, nos conta sobre o backgroundintelectual do ministro e comenta sobre os efeitos da pandemia no Brasil e da enorme oportunidade que o país tem no momento de fazer o dever...

2020-06-0533 min

L2 Capital Podcast #30: Adam Rozencwajg - commoditiesIn today's episode, Marcelo López talked to Adam Rozencwajg, managing partner at Goehring & Rozencwajg, a company specialized in natural resource investments, such as mining, energy and agriculture. Adam explains the model developed by G&R to understand the dynamic of the shale oil production in the United States and the conclusions drawn regarding the level of productivity and quality of each oil well. Rozencwajg talks about the price war between Russia and Saudi Arabia and the impact that the clash has had on the oil market. He mentions the strengths and weaknesses t...

2020-03-2734 min

L2 Capital Podcast #29: Shawn Hackett - soft commoditiesIn today's episode, Marcelo López spoke to Shawn Hackett, president of Hackett Financial Advisors, a company that specializes in providing advice for farmers and hedgers about soft commodities, based on analysis and forecasts of climate cycles. Hackett Financial Advisors helps traders and producers make decisions in agricultural commodities in order to better conduct their business. Shawn initially discusses global warming and climate change, issues that have been around for some years. He argues for the non-anthropogenic factors that historically influence the planet's climate, in contrast to the view that the human factor is paramount. Hackett explains h...

2020-03-1927 min

L2 Capital Podcast #28: Paul Ma – CGN MiningIn today's episode, Marcelo López spoke to Paul Ma, director of CGN Mining, a company that is part of the China General Nuclear Power Group (CGN), the world's third largest nuclear power corporation, and a member of the board of directors of Fission Uranium. Paul has more than 10 years of experience in the uranium industry, including exploration, development, mining and investment activities. He is responsible for CGN Mining's overseas operations, including development, mergers and acquisitions. When asked if the uranium market is an opportunity, Paul brought an elaborate explanation, putting into place the most r...

2020-02-1829 min

L2 Capital Podcast #27: Anas Alhajji – Oil marketsIn today's episode, Marcelo López spoke with Anas Alhajji, a partner at Energy Outlook Advisors, as well as an internationally recognised author, speaker, researcher and specialist in the energy markets. Anas begins by discussing how the issue of the types and quality of oil is important and how that impacts the world trade in this commodity. In this context, he talks about the characteristics of shale oil produced in the USA, the structure and capacity of North American refineries, the country's exports and imports of oil, the future demand for oil products and the impact of n...

2020-02-1123 min

L2 Capital Podcast #26: Fernando Ulrich - Escola austríacaNo episódio de hoje, Marcelo López conversou com Fernando Ulrich, sócio da Liberta Investimentos, palestrante, autor do livro “Bitcoin: a moeda na era digital” e conselheiro do Instituto Mises Brasil. Fernando conta sobre sua trajetória profissional, como vivenciou a grande crise financeira de 2008 e como teve seu primeiro contato com a Escola Austríaca a partir de então, mencionando figuras que o atraíram para o assunto, como Ron Paul e Peter Schiff. Ulrich, que cursou mestrado em economia da Escola Austríaca em Madrid, explica como surgiu e se desenvolveu...

2020-02-0334 min

L2 Capital Podcast #25: Kiyan Zandiyeh - UzbekistanIn today's episode, Marcelo López spoke with Kiyan Zandiyeh, CEO and Portfolio Manager at Sturgeon Capital, a London-based investment management company founded 15 years ago and focused on frontier markets in Central Asia and the Caucasus. Kiyan explains that the company, although based in England, has teams scattered in loco in the countries in which they invest in. This enables them to follow the local perspective and to manage, in an optimized way, the investments they make in these markets. The main opportunity highlighted by Zandiyeh and the central theme of this episode is U...

2020-01-2918 min

L2 Capital Podcast #24: Mark Gordon - Oil FundIn today's episode, Marcelo López spoke with Mark Gordon, CIO of the Ascent Oil Fund. Before taking his current position, Mark worked for companies such as Goldman Sachs, Soros Fund Management and Janus Henderson, where he focused on investments linked to the energy sector. Mark explains that the Ascent Oil Fund was formed under the view that there will be a migration in the oil market’s perception from abundance to scarcity, which will cause shares of companies in the sector to rise substantially. In the context of recent tensions involving the US and Ira...

2020-01-1138 min

L2 Capital Podcast #23: Harris Kupperman - OpportunitiesIn today's episode, Marcelo López talked to Harris Kupperman, mostly known as Kuppy. Harris is the founder of Pretorium Capital and is famous for being a fund manager with unconventional investment ideas, some of which he writes in the blog “Adventures in Capitalism” (https://adventuresincapitalism.com/). He is always looking for asymmetrical investment opportunities in sectors that are disregarded or even scorned by most investors, which generally end up being the ones with huge potential for appreciation. Initially, Kuppy discusses his views of the current market and system situation, the possibility of a crash, the factors invol...

2019-11-1925 min

L2 Capital Podcast #22: Mike Alkin - UraniumIn today's episode, Marcelo López spoke with Mike Alkin, co-founder of Sachem Cove Partners and manager of an American uranium-focused hedge fund. Mike has been following this market for over 4 years as an investor and was a speaker at the International Uranium Fuel Seminar hosted by the Nuclear Energy Institute (NEI) in Nashville, USA, in the last week of October. Alkin, who also attended the World Nuclear Association (WNA) Symposium in London, commented on the biennial report released by the organizers and on the differences between the two events, highlighting the significant attendance of uranium buyers a...

2019-11-0639 min

L2 Capital Podcast #21: Tavi Costa - Macro ResearchIn today's episode, Marcelo López talked to Otávio Costa, better known in the financial markets as Tavi Costa. Tavi is a portfolio manager at Crescat Capital and he is responsible for macro research. Tavi begins by talking about his trajectory in the financial markets and tells us more about Crescat Capital, an American company that manages hedge funds. He has been working for this company for the past 6 years. Then Tavi talks about the main topics he's looking at right now and gives us an overview of those topics. Tavi then di...

2019-10-2327 min

L2 Capital Podcast #20: Chat with Bram Vanderelst – Uranium TraderIn today's episode, Marcelo López spoke with Bram Vanderelst, head of the uranium trading desk at Curzon Resources. Bram, who attended the World Nuclear Association (WNA) Symposium in early September, agreed to come to the L2 Capital podcast and share with us his market insights and his experience in this profession, which is so little known. Bram Vanderelst, who is a chemical engineer, tells us about his experience and professional career and explains that at Curzon they have a dedicated desk for buying and selling uranium daily in the spot and long term markets. H...

2019-10-0822 min

L2 Capital Podcast #19: Chat with Bill FleckensteinIn today's episode, Marcelo López spoke to Bill Fleckenstein, an investment manager with over 30 years of experience in the financial market. Bill shares his comments, market insights and investment ideas on the website fleckensteincapital.com.br. Bill begins by discussing the magnitude of the attack on Saudi Arabia may have on markets depending on the actions taken in response to the incident and ponders about risk premiums and how agents have reacted to geopolitical tensions recently. Fleckenstein then talks about the possibility that we are experiencing a bubble in the financial markets and the r...

2019-10-0228 min

L2 Capital Podcast #18: Chat with Brandon Munro - WNA SymposiumIn today's episode, Marcelo López spoke to Brandon Munro, CEO of Bannerman Resources, a listed company on the Australian Stock Exchange, ASX, focused on uranium mining and development in Namibia. Brandon, who has participated in L2 Capital Podcasts #05 and #14, served on two working groups at the 2019 WNA (World Nuclear Association), Demand (as Chair) and Uranium Supply and Secondary Supply. Munro starts discussing the impact that this weekend’s attack on Saudi Arabia could have on the energy market, particularly in relation to uranium and nuclear power as alternatives. He analyses the situation with short and long-term con...

2019-09-2335 min

L2 Capital Podcast #17: Chat with Prof. Gerry Thomas – Nuclear PowerIn today's episode, Marcelo López spoke with Professor Gerry Thomas, a famous pharmacologist with a PhD in Pathology. She is a professor of nuclear pathology at Imperial College in London and an active researcher in the field of molecular pathology of cancer. Professor Thomas, who was at first against nuclear power but changed her mind as her research went on, debunks some myths and untruths that revolve around the subject. The professor begins by discussing the reasons why people fear nuclear radiation too much, including psychological, historical and contextual aspects. Then she talks about t...

2019-08-2920 min

L2 Capital L2 Capital Podcast #16: Chat with Adam Rozencwajg - CommoditiesIn today's episode, Marcelo López spoke with Adam Rozencwajg, founding partner of Goehring & Rozencwajg, an investment firm linked to natural resources such as mining, energy and agriculture. Prior to founding G&R’s, the partners were responsible for $ 5 billion of AUM at Chilton Investment Company. Adam talks about the investment process and how they look for opportunities in the commodities sector, with a value investing approach, meaning that they look for commodities that currently have depressed prices at the same time that present a strong possibility of course reversion and price appreciation. A...

2019-08-1535 min

L2 Capital L2 Capital Podcast #15: Chat with Vimal Gor – “illusion of liquidity”In today's episode, Marcelo López spoke with Vimal Gor, head of Fixed Income and Defensive Strategies at Pendal Group, an independent Australian asset manager with about US$100 billion in AUM, half of which is managed in Australia and the other half in England through the subsidiary JO Hambro Capital Management. Pendal is a listed company under the ticker PDL, in Australia. Vimal and his team are responsible for managing US$20 billion, allocated across different asset classes. Vimal Gor talks about a very important and unique subject, which he named “illusion of liquidity”. He started by explaining what...

2019-08-0121 min

L2 Capital L2 Capital Podcast #14: Chat with Brandon Munro – Special EditionIn today's episode, Marcelo López spoke with Brandon Munro, CEO of Bannerman Resources, a company focused on the exploration and development of uranium mines in Namibia. Brandon was our L2 Capital Podcast episode 5 guest, where he talked about the dynamics of the uranium sector and his views about it. In today’s special episode, the conversation focuses on the recently announced White House decision on a Section232 petition filed by two US uranium miners, Ur-Energy and Energy Fuels, in January 2018. The two companies asked for a 25% market share as the imports of uranium, in the...

2019-07-1920 min

L2 Capital L2 Capital Podcast #13: Chat with Fred Hickey – Technology and Precious MetalsIn today's episode, Marcelo talked to Fred Hickey, editor of the famous publication The High Tech Strategis (HTS). The HTS is a monthly publication with more than 32 years of existence that brings to its readers an independent view on macroeconomic aspects, investments in the technology and precious metals sector. Fred explains that he began following and writing about precious metals in the early 2000s, as he believed it was necessary to protect oneself against financial measures taken by central banks. Fred Hickey brings his insight on technology companies and...

2019-07-0438 min

L2 Capital L2 Capital Podcast #12: Chat with William Sheriff – Energy Metals and SWUIn today's episode, Marcelo spoke with Bill Sheriff, chairman of enCore Energy Corp., a uranium exploration company with mining assets exclusively in the USA. Sheriff, who has worked as a geologist, a broker and a market maker, begins by talking about the history of Energy Metals, a company he founded with a market capitalization of US$1 million and sold a few years later for US$1.5 billion. Bill Sheriff talks about the importance of having a properly qualified team at the helm of a uranium company, with technical expertise in the entire nuclear fuel cycle and...

2019-06-2034 min

L2 Capital L2 Capital Podcast #11: Chat with Jeffrey Snider - Eurodollar system and financial crisisIn today's episode, Marcelo spoke with Jeffrey Snider, Head of Global Investment Research at Alhambra Investments, a Florida-based company that provides portfolio management services to institutions with a focus on risk management. Jeffrey Snider is one of the few people to openly and consistently talk about the Eurodollar System and he spoke to Marcelo extensively about the subject in this episode. Jeff begins by explaining exactly what the Eurodollar system is. It originated through US currency deposits outside the US and outside the US’s regulation, but evolved to become a large, interconnected global network wi...

2019-06-0624 min

L2 Capital L2 Capital Podcast #10: Chat with Marcelo López - Uranium Investment thesisIn this special episode Marcelo López shares his insights on the uranium investment thesis. It has been recorded in Portuguese. Please share it with your Portuguese-speaking friends. - No episódio especial de hoje, invertemos os papéis. Marcelo López ocupou o lugar de convidado num bate-papo com Rafael Siqueira sobre a oportunidade de investimento em urânio. Quer entender por que a L2 Capital acredita tanto na tese de investimento em urânio? Compartilhamos com você de forma clara e abrangente as conclusões das análises des...

2019-05-2339 min

L2 Capital L2 Capital Podcast #09: Chat with Alex Molyneux - Opportunities in the Uranium MarketIn today's episode, Marcelo Lopez spoke with Alex Molyneux, a senior executive and investor in natural resources, who today acts as an advisor to an investment fund solely focused on capturing opportunities in the uranium market. Having already held various executive positions in companies in the sector, as he himself explains, he is able to have a deeper technical understanding of uranium particularities, such as operational issues, production, licensing and jurisdiction, which gives him a different approach when investing. Alex Molyneux curriculum gives him credibility to talk about uranium. After a decade working as a...

2019-04-2534 min

L2 Capital L2 Capital Podcast #08: Chat with Simon Mikhailovich - Tocqueville Bullion ReserveIn today's episode, Marcelo Lopez spoke with Simon Mikhailovich, co-founder and manager of the Tocqueville Bullion Reserve, which he describes as a global solution for those who wish to have gold and make use of a complete infrastructure with fiduciary responsibility and alignment of interests, allowing the purchase directly from the refiners. At the beginning of the conversation, Simon draws a distinction between having gold as a form of investment and having it as a safe haven. For both cases, he highlights how to position and the incredible features of the yellow metal. Simon and...

2019-04-1236 min

L2 Capital L2 Capital Podcast #07: Chat with Marc Faber – Gloom Boom & DoomIn today's episode, Marcelo López talked to Marc Faber, editor and publisher of the famous report Gloom Boom & Doom and a contrarian investor known for bold investment decisions in the past. Marcelo begins the conversation by asking about the behaviour of markets from December 2018 to the present. Marc Faber attributes the December declines and reaction seen in 2019 to a number of factors, including the Fed’s capitulation, Modern Monetary Theory and the flow of investor’s capital. He also brings his perspective to the stock market in 2019 and comments on the possibility of a crash.

2019-03-2832 min

L2 Capital L2 Capital Podcast #06: Chat with Alasdair Macleod – GoldmoneyIn today's episode, Marcelo Lopez spoke with Alasdair Macleod, who besides being a very experienced investor, is the Head of Research at Goldmoney. Alasdair talks about Goldmoney acting as custodian for clients around the world who wish to store precious metals outside the banking system and also the interesting services it provides to its investors. When questioned about the recent market performance, marked by pronounced declines in late 2018 and a bullish reaction in January 2019, Macleod explains these events and establishes a connection between decisions made by the Fed, the...

2019-03-1432 min

L2 Capital L2 Capital Podcast #05: Chat with Brandon Munro – Bannerman ResourcesIn this episode, Marcelo Lopez spoke with Brandon Munro, CEO of Bannerman Resources Limited, a company listed on the Australian Stock Exchange, ASX, focused on the exploration and development of uranium mines. Munro begins by telling a little about the company's history, as well as about his trajectory within the company, from the acquisition of the Etango Project in Namibia, various studies and licenses and the way the company handled the accident at Fukushima nuclear power plant in 2011. Asked by Marcelo about the country where the company's activities are concentrated, Brandon explains with the knowledge...

2019-02-2843 min

L2 Capital L2 Capital Podcast #04: Chat with Martin North - Housing market in Australia In this episode, Marcelo talks to Martin North, from Digital Finance Analytics (DFA). DFA is a boutique research, analysis and consulting firm providing advisory services to clients in Australia and beyond. Martin starts by explaining how his company, DFA, conducts the research and consulting work. DFA follows a philosophy of its own and looks at different perspectives, with a wealth of detail. Following on, North talks about the downward trajectory of real estate prices in Australia in 2018, which he had already anticipated, after several years of expressive appreciation. He explains why prices have...

2019-02-1525 min

L2 Capital L2 Capital Podcast #03: Chat with Russell Napier - U.S., China and the risks for emerging marketsIn this episode, Marcelo talks to Russell Napier, co-founder of the ERIC (Electronic Research Interchange) and creator of the course "A Practical History of Financial Markets". He was also considered the No. 1 strategist in the 1990s and wrote the very famous book "Anatomy of the Bear." After talking about ERIC, which is a website for institutional investors to buy independent market research, Russell rationalizes about his recent Financial Times article "Cracks are opening in the global monetary system" which has caused controversy by stating that the current economic situation is not the end of a cycle, but...

2019-02-0128 min

L2 Capital L2 Capital Podcast #02: Chat with Jim Grant - Interest rates and opportunitiesThe L2 Capital Podcast focuses on potential opportunities in the market, and brings to you industry leaders and intelligent conversation about their respective areas of expertise. In this episode, Marcelo speaks to the famous editor and founder of Grant’s Interest Rate Observer, Jim Grant, who has been writing in this publication focused in the Capital Market since 1983 and has also written books, such as The Forgotten Depression. The conversation starts on the strong numbers coming from the Unites States: unemployment rates, the fiscal stimulus, and also the strong GDP, for instance. Questioned about the pr...

2019-01-1831 min

L2 Capital L2 Capital Podcast #01: Chat with Rick Rule - the uranium bull marketThe L2 Capital Podcast focuses on potential opportunities in the market, and brings to you industry leaders and intelligent conversation about their respective areas of expertise. In this first episode, Marcelo had the pleasure to talk to legendary investor Rick Rule, CEO at Sprott, Canadian company that works as a global investment and asset management focused in natural resources and precious metals. The first discussion with Rick Rule is about the uranium bull market, after a long period of bear market, when the metal was being sold for half the price of its production cost...

2019-01-0417 min