Investors / stance tracking
What David Iben is saying
CIO, Kopernik Global Investors
9 dated public stances tracked since 2025-03-13, most recently 2025-03-13. Each line carries the date and the venue it came from; quotation marks mean verbatim. Methodology.
The stances below are c8alpha's editorial distillation of David Iben's public commentary — television, podcasts, and interviews — compiled by automated transcript analysis and dated to the episode they came from. They may lag the speaker's current view and may contain extraction errors. Text in quotation marks is verbatim from the episode; everything else is our paraphrase. David Iben is not affiliated with c8alpha and has not endorsed this page. Nothing here is investment advice.
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9
tracked stances
8
themes
0
side flips
2025-03-13
last heard
Returns 90d +20.3% (n=5) · 180d +13.8% (n=5) · 1y +48.9% (n=5)
Raw direction-aware returns on public statements — long calls credited when the price rose, shorts when it fell, shorts capped at −100% — in a rising market this mostly measures who was long, not who has skill. Returns run from the stance date; calls are rarely closed publicly, so fixed 90-day / 180-day / 1-year horizons are used. A horizon shows only once it has fully matured, and only at 5+ scored stances.
Most-argued themes
| Theme | Stances | Lean | Mix | Last |
|---|---|---|---|---|
| CK | 1 | 1 bullish | 2025-03-13 | |
| GUANGSHEN RAILWAY | 1 | 1 bullish | 2025-03-13 | |
| Gold Miners | 1 | 1 bullish | 2025-03-13 | |
| LG | 1 | 1 bullish | 2025-03-13 | |
| PLATINUM | 1 | 1 bullish | 2025-03-13 | |
| SOUTH KOREA EQUITIES | 1 | 1 bullish | 2025-03-13 |
Tracked stances
bullish / bearish is a view they argued; owns / short is a position they said they hold.
2025-03-13
GUANGSHEN RAILWAY
bullish
Wealthion · video
Chinese railroad trading at well over 50% discount to intrinsic value; Kopernik prices in a large geopolitical/governance haircut and still gets more than double the required discount from the market, making it a current holding
“the market will give us way more than half off”
Gold, Platinum and Why Everyone Has it Wrong
2025-03-13
CK
bullish
Wealthion · video
Market applies an unjustified conglomerate discount; a sum-of-parts view of Hutchison's retail, telecoms, and global port assets reveals intrinsic value far above the depressed stock price, with the Panama port sale near full fair value confirming the thesis
“it's still very very attractive”
Gold, Platinum and Why Everyone Has it Wrong
2025-03-13
SOUTH KOREA EQUITIES
bullish
Wealthion · video
Korea may be where Japan was a decade ago — well into a bear market, low sentiment, corporate governance improving, with stocks trading at discounts to tangible book at single-digit P/E and solid dividends, providing asymmetric upside if margins converge…
“Korea is a market in general that we think might be where Japan was a dozen years ago”
Gold, Platinum and Why Everyone Has it Wrong
2025-03-13
Gold Miners
bullish
Wealthion · video
Gold miners have massively underperformed gold itself — gold up over 50% from its 2011 peak while GDXJ is down over 50% — and operational leverage means they should move multiples of any gold price increase once the market re-rates them; preferred over…
“gold's up over 50% and the GDXJ is down over 50%”
90d +20.2% · 180d +54.7% · 1y +117.4%
Gold, Platinum and Why Everyone Has it Wrong
2025-03-13
PLATINUM
bullish
Wealthion · video
Platinum has historically traded at a premium to gold given its greater scarcity and historic monetary status, but is now at such an extreme discount that tripling its price would still leave it below gold — an irrational divergence Kopernik is actively…
“if the price tripled tomorrow, it would sell below gold”
Gold, Platinum and Why Everyone Has it Wrong
2025-03-13
USTS
bearish
Wealthion · video
With US annual interest costs near $1 trillion and deficit spending requiring eventual monetization, the bond market is the most likely casualty as record aggregate financial claims on the economy cannot all be honored at face value
“my first guess would be the bond market”
90d -0.4% · 180d -4.2% · 1y -4.7%
Gold, Platinum and Why Everyone Has it Wrong
2025-03-13
LG
bullish
Wealthion · video
LG Corp is a well-managed Korean conglomerate spanning telecom, chemicals, and EV batteries that has grown book value consistently yet trades at a huge discount to book — a classic conglomerate-discount mispricing
“they trade at a huge huge discount”
Gold, Platinum and Why Everyone Has it Wrong
2025-03-13
SPX
bearish
Wealthion · video
US stocks sit at their highest-ever valuations on most metrics — priced for 'American exceptionalism' — while aggregate claims on society from equities, bonds, and government debt are simultaneously at all-time highs; at a time of historically low…
“I think stocks are pretty vulnerable also”
90d -9.4% · 180d -18.6% · 1y -21.5%
Gold, Platinum and Why Everyone Has it Wrong
2025-03-13
short GOLD / long OIL / NATURAL GAS / NICKEL
ratio
Wealthion · video
The gold-to-commodity ratio (vs. oil, natural gas, nickel) has reached a century-scale extreme, making a rotation from gold into these scarce, economically necessary real assets the superior risk-reward trade at this juncture
“is the gap between gold and oil or gold and natural gas or gold and nickel too extended”
Gold, Platinum and Why Everyone Has it Wrong
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