Interesting comments about how SPACs operate. https://adventuresincapitalism.com/2021/03/29/ponzis-go-boom/
FYI: Kuppy is a blow up artist. I posted this a few months ago, regarding my own personal meeting with Harris Kupperman: "Wow, a name from the past. I have been a professional trader, since 1998, and was lucky to ride the dot-com mania, in NYC. In 2005-2006, I happened to be in Miami Beach, and visited a day trading office on Lincoln Road. I had set up an offshore private interest foundation, with $5M, and I was looking to diversify by investing in hedge funds. I was told of this amazing young guy, named Harris Kupperman (we were both in our twenties), so I visited his office, and had a face to face meeting. He had an extensive bookshelf, mostly history books, and economics (I have a Bsc. in Economics from Duke University, and also a BA in Art History). I believe he was mostly involved in mining companies in Africa, at that time. What struck me, was a Marquis Jet Card, conveniently placed on his desk. I asked him about it, and he said that it enabled him to fly to remote locations. My other observation was that his office was pretty huge, and empty, as he only had one assistant, visible. I questioned why such a big space, and he answered that he was looking to expand, and he might as well lock in the price on the lease. I then asked about his fund. He said he was managing around $100M, and his minimum was $2M, but just for me, he would lower it to $1M. I passed. Within a year the fund imploded (as in ZERO). Investors were given "share certificates", as IOUs. The office was gone. I was still on his email list, and I clearly remember the last email from him, saying that he was humbled, and writing it from his living room. I do not know what happened to the original investors. I googled his name, but this "part" of his life has been fully deleted. I wonder why? TRUE Story!!!" https://www.elitetrader.com/et/threads/es-journal-2019-2020.328086/page-2701#post-5159689 Then Mongolia! And by 2015, it was not doing so well. I did a quick search in the Wayback Machine for www.pracap.com, and although it was started in 2003, the oldest screenshot is from 2019. Something is off... Entangling thousands of investors, and "losing" hundreds of millions. Hopefully, "Real Vision" does some financial forensics into the $100M lost in mining in Africa around 2006, or the 50M+ lost in Mongolia. I wonder why Kuppy chooses far out destinations. Harder to do due diligence!!!
Thanks for the info. Just started following him recently so wasn't aware of his past. Mongolia ? MNGGF up nearly 7% today to $0.38
I can't believe it. Harris Kupperman is re-inventing himself yet again! From mining in Africa, to Mongolia, to funds, to having a subscription-based business (he spends an entire hour, then pitches his business at 1:00 hr, exactly, on the video)!!! https://www.realvision.com/taking-advantage-of-event-driven-markets-live-with-harris-kupperman "How much money he has left on the table!!!" "I am not here to do pro-bono...I want to subsidize my analysts..." https://kedm.com/ "Who’s Kuppy My Name is Harris Kupperman and I’ve been successfully investing in the markets for over two decades. I am the Founder and CIO of Praetorian Capital, a hedge fund that invests inline with the strategies that I speak about on this site. I am also the Chairman and CEO of Mongolia Growth Group (YAK: Canada and MNGGF: USA). If you want to learn more about the company, please visit our website at MongoliaGrowthGroup.com and our leasing site at www.mggproperties.com/en/ --------------------------------------------------------------------------------------------------------- HI KUPPY, Please feel free to reach out to me (PM), and explain what happened to your original investors in your $100M+ Fund (Mining in Africa, back around 2006), which you personally stated to me included family members, and you asked me for $2M, but could accept $1M instead, as a minimum. According to your last written investor email during that era, from your living room, the fund was completely wiped out. We already met face to face, in Miami Beach. It will be like a nice reunion. Can't wait!!!
He's an interesting read but seems to always buy the low in size and sell the high. But if he does lose, it's always a small loss. Perhaps the litmus test would be to see his published returns because on the back of what he writes, I'd expect him to be pushing at least 50% pa if not 100. As ever with the internet, and life these days, it's best not to believe too much what you read and write.
I was in a trading office next to groovejet back then which was in what is now the W hotel before that.
He is like addicted to losing: https://valuewalkpremium.com/2020/05/harris-kupperman-praetorian-capital/ He has to file an "EARLY WARNING REPORT", for acquiring USD $5,000 (yes, five thousand dollars), in his own fund!!! https://finance.yahoo.com/news/kupperman-files-early-warning-report-005500797.html Holy Shit, I wouldn't even bother with all the paperwork for $5K!!! How this dude is in business is beyond my comprehension...
Here he is again: https://www.marketwatch.com/story/t...gains-may-come-next-11631098187?mod=home-page "Harris Kupperman, the president of hedge fund Praetorian Capital, said what’s happening is that one exchange-traded fund, the Sprott Physical Uranium Trust , is now buying uranium to store it —..."
Now Uranium!!! I already did my public service announcement, as I felt it was my moral duty to expose this shady character's past. I even offered myself to go on the record, under oath, and even take a polygraph test, regarding what happened when he blew up his initial $100 Million Fund, invested in African Mining (which is not public, and super buried). "Hedge Fund Pro"??? Thankfully, there are sites like ET, where people can start doing due diligence on people like Harris Kupperman, before handing him any money (and then losing it ALL!)... https://www.elitetrader.com/et/thre...of-harris-kupperman-praetorian2.210143/page-3