Craftsman

 

"We are stoked, as well as humbled, to honor Renny Yater, a surfer, craftsman, designer and artist. Renny Yater has shaped thousands of surfboards for thousands of surfers and in doing so he helped shape an entire surf culture at Rincon and the surrounding areas and he continues to do so."

 - Sacred Craft Expo director Scott Bass

“He who works with his hands and his head and his heart is an artist.”

- St. Francis of Assisi

In March 2017, Stanley Black & Decker acquired the Craftsman brand from Sears Holdings, which retained a limited license for Craftsman products. The systematic destruction of USA Inc’s most ardent retailer in the 20th century was near completion. Incredibly, the poster boy for the new ideology orchestrated by a CEO who operated his own hedge fund - often from the Bolshevik center of Aspen, Colorado - enabling him to aspirate the rest of the real estate collateral from the company thru Transform SR Brands & ESL Investments.

Brewer’s contribution was to look outside of surfing. His engineering background, everything he knew about cars, about machining, about speed and drive and torque—he brought all of that to bear in the shaping room. Lucky for our sport, he wasn’t born and raised on the beach. He loved surfing best of all, but he was smart enough to look beyond surfing. To our great benefit.” - Matt Warshaw

Paradigm Shift > Awakening > Consciousness > Opportunity.

Goal > Recapitalize a personal balance sheet earning multiples on capital.

Traditional Methods > Margin & Financial Leverage are the Flavor of the Day.

Less accommodative financial conditions [free money - no interest rates] gone in 2022 / 2023 may see reality > Those ‘Swimming Naked’ when the tide pulls out.

Our Approach > Embrace Distortions never seen in 30 / 50 years.

In October of 2001 in Solana Beach, California my life crossed paths with a new friend who ran a hedge fund back in the 1975-85 era. I had just returned from a Financial Advisory business class with Morgan Stanley which was suddenly interrupted by the demolition of our building [Tower 2, World Trader Center]. We were on the 61st floor and during a break alone I commenced emailing the branch manager in Del Mar after noting the perfectly clear day overlooking TriBeCa. As a former resident of Jersey City and growing up in Western Massachusetts I connected with my new former hedge fund friend who was wearing a Woods Hole T-shirt.

Life can take us in pivotal ways at crossroads. Fortunate to listen & respect elders who have acted with substantial experience. My friend Bob pounded away numerous systemic risks in the financial system and the virtues of gold & precious metals assets. Commodities were viewed as an ‘alternative’ investment strategy at the time by our research department but my world was increasingly accepting to new ideas upon witnessing the Tower next to ours vaporize down the street from SOHO.

The Rogers International Commodity ® Index commenced on July 31, 1998. Jim Rogers of the former Quantum Fund noted a secular bull market driven by Asian demand, years of misallocation of capital and future debasement of western world currencies.

Salient Points

Most do not read so lets get to bullet points:

2001 in NYC Paradigm Shift experience

Frog’s Gym noted Bob Farrell warning a ‘Capn’ Kidd’ Woods Hole Massachusetts T shirt. introduction to gold & commodities.

Morgan Stanley ‘Outperform’ on Barrick Gold. Underperform on Goldcorp. Our macro research was ‘bullish’ on gold.

I'm a little pea

I love the sky and the trees

I'm a teeny, tiny little ant

Checking out this and that

And I am nothing

Ah, so you have nothing to hide - Flea / RHCP