The Variant View
Value investing and special situations driven by a behavioural edge in mispriced large caps and event-driven options. Unconstrained by industry convention. Comfortable diverging from consensus opinion.
| Platform |  | Pricing | Freemium | Publishes | Weekly |
|---|---|---|---|---|---|
| Issues | 28 | Founded | 2 years ago | Last Issue | 3 days ago |
| Active | |||||
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divergentcapital7651.substack.comLatest Issues
Keweenaw Land Association ($KEWL): Capital-Light Mineral Portfolio Optionality
Investment Thesis Summary
Keweenaw Land Association (“KLA”) is a speculative, pre-production mineral estate and royalty portfolio manager. The company is potentially undervalued if its capital-light mineral rights portfolio can become...
Horizon Kinetics Q2'26 Portfolio Update Recap
Introduction
Horizon Kinetics recently released its Q2 ’26 portfolio update: a presentation by Steven Bregman and Ryan Casey addressing questions submitted by the firm’s clients concerning recent portfolio and market developments. A pla...
Market Musings From Atop the Shoulders of Giants - 23.06.2026
In this post, I’d like to try something a little different to what I would normally post. Rather than focusing on a specific investable idea, I’d like to share my thoughts with you on a wide variety of topics. Maybe they’ll be interesting o...
The Price of Pessimism: What the Market Implies and What the Evidence Supports for Charter Communications ($CHTR)
Executive Summary
Charter trades near $132, roughly half of our estimated intrinsic value of about $230 to $290. At that price, the market is valuing the company as though its unlevered free cash flow will decline in perpetuity. The op...
Sovereign Alchemy: Critical Mineral Structural Scarcity, Import Dependence, & Economic Beneficiaries.
Introduction
Dear Readers,
This post is a first for The Variant View. The report, available as a downloadable PDF file for paid subscribers beyond the paywall, presents a thematic report on the key trends, implications, and potential ec...
Key Facts
Audience Metrics
Subscribers, engagement, traffic and sponsorship for The Variant View.
| Subscribers | Engagement | 67 | Monthly Web Visits | ||
|---|---|---|---|---|---|
| Accepts Sponsors | Estimated Cost per Ad | ||||
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Value investing and special situations.
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