David R. Kotok
@davidkotok.bsky.social
Co-Founder & Strategic Advisor at Cumberland Advisors ▫ Economist ▫ Fisherman ▫ Investor ▫ Author ▫ See my new book, "The Fed and the Flu: Parsing Pandemic Economic Shocks" https://www.thefedandtheflu.com.
In investing, can you ignore the risks and impacts of climate change?
www.youtube.com/shorts/UVkeX...
Stay up to date with David by subscribing free: kotokreport.com/insights/
www.youtube.com/shorts/UVkeX...
Stay up to date with David by subscribing free: kotokreport.com/insights/
Climate Change: Ignoring Risk Impacts Insurance & Finance
Why would a top investor say Florida needs ANOTHER hurricane?
David Kotok explains the dangerous complacency after a quiet storm season - while the water keeps rising.
Insurance carriers are…
www.youtube.com
December 20, 2025 at 8:56 PM
In investing, can you ignore the risks and impacts of climate change?
www.youtube.com/shorts/UVkeX...
Stay up to date with David by subscribing free: kotokreport.com/insights/
www.youtube.com/shorts/UVkeX...
Stay up to date with David by subscribing free: kotokreport.com/insights/
Join me today, 1PM - 2PM EST. for an investment conversation addressing the structural forces & tail risks that create generational opportunities & threats plus the potential reshaping of global systems & economic shocks.
Join us here: www.linkedin.com/events/74060...
#Markets #Investing #Economy
Join us here: www.linkedin.com/events/74060...
#Markets #Investing #Economy
December 17, 2025 at 3:57 PM
Join me today, 1PM - 2PM EST. for an investment conversation addressing the structural forces & tail risks that create generational opportunities & threats plus the potential reshaping of global systems & economic shocks.
Join us here: www.linkedin.com/events/74060...
#Markets #Investing #Economy
Join us here: www.linkedin.com/events/74060...
#Markets #Investing #Economy
Today, we offer three thought-provoking pieces on the Trump administration policy regarding Venezuela and Cuba — one a short video analysis of the big picture from one perspective, one a detailed news report, the last an analytical commentary. dkotok.substack.com/p/venezuela-...
Venezuela, Cuba, Trump Corollary (The New Monroe Doctrine?)
Three recommended reports on the Venezuelan tanker provided perspective that included generally overlooked details worth knowing about, IMO.
dkotok.substack.com
December 16, 2025 at 2:56 PM
Today, we offer three thought-provoking pieces on the Trump administration policy regarding Venezuela and Cuba — one a short video analysis of the big picture from one perspective, one a detailed news report, the last an analytical commentary. dkotok.substack.com/p/venezuela-...
I would be delighted if you'd attend our conversation this Wednesday, Dec 17, 2025, 1:00 PM - 2:00 PM EST. www.linkedin.com/events/74060...
Traditional investment commentary often focuses only on quarterly earnings and near-term catalysts. This conversation will be different.
Traditional investment commentary often focuses only on quarterly earnings and near-term catalysts. This conversation will be different.
December 15, 2025 at 3:39 PM
I would be delighted if you'd attend our conversation this Wednesday, Dec 17, 2025, 1:00 PM - 2:00 PM EST. www.linkedin.com/events/74060...
Traditional investment commentary often focuses only on quarterly earnings and near-term catalysts. This conversation will be different.
Traditional investment commentary often focuses only on quarterly earnings and near-term catalysts. This conversation will be different.
Imagine what $60 million could do for the research budget of the University of Florida as it proceeds in developing a cancer cure with mRNA science applied. Readers can decide this for themselves. dkotok.substack.com/p/the-coming...
The Coming RFK Jr. Health Recession: Part 2
I discuss RFK Jr.-aligned state health policy and its ramifications in Florida, the state where I live.
dkotok.substack.com
December 14, 2025 at 5:30 PM
Imagine what $60 million could do for the research budget of the University of Florida as it proceeds in developing a cancer cure with mRNA science applied. Readers can decide this for themselves. dkotok.substack.com/p/the-coming...
While Florida politicians are trying to make mRNA vaccines illegal, Florida-based university physicians are developing mRNA vaccines to battle cancers, including deadly ones like glioblastoma.
dkotok.substack.com/p/the-coming...
dkotok.substack.com/p/the-coming...
The Coming RFK Jr. Health Recession: Part 2
I discuss RFK Jr.-aligned state health policy and its ramifications in Florida, the state where I live.
dkotok.substack.com
December 14, 2025 at 3:51 PM
While Florida politicians are trying to make mRNA vaccines illegal, Florida-based university physicians are developing mRNA vaccines to battle cancers, including deadly ones like glioblastoma.
dkotok.substack.com/p/the-coming...
dkotok.substack.com/p/the-coming...
Enjoy the Cumberland Advisors’ Friday, December 12, 2025 Week in Review update on market conditions, equities & bonds with Matt C. McAleer and John R. Mousseau.
youtu.be/BTvbLu8EbOk?... #Markets
youtu.be/BTvbLu8EbOk?... #Markets
"AI: Searching For Beneficiaries" - Week in Review
Dear Clients & Friends,
Thank you for watching Cumberland Advisors’ Friday, December 12, 2025 Week in Review, our end-of-week update on market conditions, equities & bonds with Matt C. McAleer,…
youtu.be
December 13, 2025 at 1:18 AM
Enjoy the Cumberland Advisors’ Friday, December 12, 2025 Week in Review update on market conditions, equities & bonds with Matt C. McAleer and John R. Mousseau.
youtu.be/BTvbLu8EbOk?... #Markets
youtu.be/BTvbLu8EbOk?... #Markets
Credit Default Swaps exist for a reason and are often the canary in the coal mine. Oracle is an example.
December 11, 2025 at 4:15 PM
Credit Default Swaps exist for a reason and are often the canary in the coal mine. Oracle is an example.
Trust in the United States and its central bank is key. If trust is shaken, recovering it takes a long time. Global asset allocations are impacted. Is the dollar imperiled? I offer my take on that question in a full interview with Kathleen Hays: kotokreport.com/my-central-b...
My Central Bank Central Interview: Insights Ahead of Expected Rate Cut
With Kathleen Hays on Central Bank Central yesterday, I discussed the expected rate cut, a divided Fed’s choices, inflation’s likely trending higher, policy shocks, Trump-o-nomics, the labor force,…
kotokreport.com
December 11, 2025 at 1:45 PM
Trust in the United States and its central bank is key. If trust is shaken, recovering it takes a long time. Global asset allocations are impacted. Is the dollar imperiled? I offer my take on that question in a full interview with Kathleen Hays: kotokreport.com/my-central-b...
In a world of conflicting forces and potential and yet-to-be-realized policy shocks, how do we invest? What investments makes sense if I don’t want to get up every morning worried about where the VIX roller coaster will take my investments today? kotokreport.com/my-central-b...
My Central Bank Central Interview: Insights Ahead of Expected Rate Cut
With Kathleen Hays on Central Bank Central yesterday, I discussed the expected rate cut, a divided Fed’s choices, inflation’s likely trending higher, policy shocks, Trump-o-nomics, the labor force,…
kotokreport.com
December 10, 2025 at 7:55 PM
In a world of conflicting forces and potential and yet-to-be-realized policy shocks, how do we invest? What investments makes sense if I don’t want to get up every morning worried about where the VIX roller coaster will take my investments today? kotokreport.com/my-central-b...
When I served as chair of the Casino Authority in Atlantic City, I negotiated with real estate developer Donald Trump for two hours regarding a payment structure concerning a casino — a little building called the Taj Mahal. How did that turn out? kotokreport.com/my-central-b...
My Central Bank Central Interview: Insights Ahead of Expected Rate Cut
With Kathleen Hays on Central Bank Central yesterday, I discussed the expected rate cut, a divided Fed’s choices, inflation’s likely trending higher, policy shocks, Trump-o-nomics, the labor force,…
kotokreport.com
December 10, 2025 at 1:45 PM
When I served as chair of the Casino Authority in Atlantic City, I negotiated with real estate developer Donald Trump for two hours regarding a payment structure concerning a casino — a little building called the Taj Mahal. How did that turn out? kotokreport.com/my-central-b...
If you’re worried that the dollar may decline as overseas investors lose confidence in U.S. fiscal and monetary policy, then hear why David R. Kotok sees the growing use of stablecoins as fuel for demand of dollars and buyers for Treasury bills.
kathleenhays.substack.com/p/kotok-sees... #TheFed
kathleenhays.substack.com/p/kotok-sees... #TheFed
Kotok Sees Fed Cutting Rates Amidst Labor Market Shocks at Cost of Even Higher Inflation
Co-founder, former Chair of Cumberland Advisors, Author of "The Kotok Report" on Substack: Better-grade, tax-free municipal bonds "no brainer" for investors now
kathleenhays.substack.com
December 9, 2025 at 10:39 PM
If you’re worried that the dollar may decline as overseas investors lose confidence in U.S. fiscal and monetary policy, then hear why David R. Kotok sees the growing use of stablecoins as fuel for demand of dollars and buyers for Treasury bills.
kathleenhays.substack.com/p/kotok-sees... #TheFed
kathleenhays.substack.com/p/kotok-sees... #TheFed
My Central Bank Central Interview: Insights Ahead of Expected Rate Cut
dkotok.substack.com/p/my-central...
Kathleen Hays and I discussed the expected rate cut, a divided Fed’s choices & its purpose, inflation’s trending higher, policy shocks, Trump-o-nomics, labor force, bond market, and the USD.
dkotok.substack.com/p/my-central...
Kathleen Hays and I discussed the expected rate cut, a divided Fed’s choices & its purpose, inflation’s trending higher, policy shocks, Trump-o-nomics, labor force, bond market, and the USD.
My Central Bank Central Interview: Insights Ahead of Expected Rate Cut
Kathleen Hays and I discussed the expected rate cut, a divided Fed’s choices & its purpose, inflation’s trending higher, policy shocks, Trump-o-nomics, the labor force, the bond market, and the USD.
dkotok.substack.com
December 9, 2025 at 6:44 PM
My Central Bank Central Interview: Insights Ahead of Expected Rate Cut
dkotok.substack.com/p/my-central...
Kathleen Hays and I discussed the expected rate cut, a divided Fed’s choices & its purpose, inflation’s trending higher, policy shocks, Trump-o-nomics, labor force, bond market, and the USD.
dkotok.substack.com/p/my-central...
Kathleen Hays and I discussed the expected rate cut, a divided Fed’s choices & its purpose, inflation’s trending higher, policy shocks, Trump-o-nomics, labor force, bond market, and the USD.
Small Business by the Numbers is the NFIB Research Center podcast where Holly Wade and Peter Hansen discuss everything related to the small business economy.
Episode #2 just dropped: "Small Business Optimism Increased in November Data"
open.spotify.com/episode/1wz0...
Episode #2 just dropped: "Small Business Optimism Increased in November Data"
open.spotify.com/episode/1wz0...
Ep. 2: Small Business Optimism Increased in November Data
Small Business By The Numbers · Episode
open.spotify.com
December 9, 2025 at 5:38 PM
Small Business by the Numbers is the NFIB Research Center podcast where Holly Wade and Peter Hansen discuss everything related to the small business economy.
Episode #2 just dropped: "Small Business Optimism Increased in November Data"
open.spotify.com/episode/1wz0...
Episode #2 just dropped: "Small Business Optimism Increased in November Data"
open.spotify.com/episode/1wz0...
Childhood vaccination recommendations and policy are in flux and under a siege driven by disinformation. Infection can damage the immune system for a time such that children are more vulnerable to various other infections, not less. dkotok.substack.com/p/the-coming...
The Coming RFK Jr Health Recession: Part 1
In Part 1 of this series, we consider the public health and economic implications of vaccine policy and falling vaccination rates.
dkotok.substack.com
December 8, 2025 at 7:32 PM
Childhood vaccination recommendations and policy are in flux and under a siege driven by disinformation. Infection can damage the immune system for a time such that children are more vulnerable to various other infections, not less. dkotok.substack.com/p/the-coming...
Senator Cassidy points out that we were able to reduce hepatitis B cases in newborns from 20,000 to 20. Why would any sane person want to reverse that public health success?
dkotok.substack.com/p/the-coming...
dkotok.substack.com/p/the-coming...
The Coming RFK Jr Health Recession: Part 1
In Part 1 of this series, we consider the public health and economic implications of vaccine policy and falling vaccination rates.
dkotok.substack.com
December 7, 2025 at 7:55 PM
Senator Cassidy points out that we were able to reduce hepatitis B cases in newborns from 20,000 to 20. Why would any sane person want to reverse that public health success?
dkotok.substack.com/p/the-coming...
dkotok.substack.com/p/the-coming...
We are seeing deaths from preventable disease. dkotok.substack.com/p/the-coming...
In economic terms, when a policy raises mortality in younger people, the entire national economy suffers for generations. Any demographer will substantiate that for you.
In economic terms, when a policy raises mortality in younger people, the entire national economy suffers for generations. Any demographer will substantiate that for you.
The Coming RFK Jr Health Recession: Part 1
In Part 1 of this series, we consider the public health and economic implications of vaccine policy and falling vaccination rates.
dkotok.substack.com
December 7, 2025 at 4:35 PM
We are seeing deaths from preventable disease. dkotok.substack.com/p/the-coming...
In economic terms, when a policy raises mortality in younger people, the entire national economy suffers for generations. Any demographer will substantiate that for you.
In economic terms, when a policy raises mortality in younger people, the entire national economy suffers for generations. Any demographer will substantiate that for you.
“Yes, I'm worried about the economy,” Kotok said. “I don't expect inflation to subside, roll over and go down to some very low level. I do expect economic shocks out of an economy that is being shocked daily.” www.usatoday.com/story/money/...
December 4, 2025 at 9:32 PM
“Yes, I'm worried about the economy,” Kotok said. “I don't expect inflation to subside, roll over and go down to some very low level. I do expect economic shocks out of an economy that is being shocked daily.” www.usatoday.com/story/money/...
Terrific Interview for Understanding Today’s Markets
Any investor in any asset class will find this interview thought-provoking and useful.
dkotok.substack.com/p/terrific-i... #Markets #Investing
Any investor in any asset class will find this interview thought-provoking and useful.
dkotok.substack.com/p/terrific-i... #Markets #Investing
Terrific Interview for Understanding Today’s Markets
Ed D’Agostino’s interview with Michael Howell, former director of research at Salomon Brothers, on global liquidity and asset markets is a must for any thoughtful investor. It’s an incisive discussion
dkotok.substack.com
December 3, 2025 at 12:00 PM
Terrific Interview for Understanding Today’s Markets
Any investor in any asset class will find this interview thought-provoking and useful.
dkotok.substack.com/p/terrific-i... #Markets #Investing
Any investor in any asset class will find this interview thought-provoking and useful.
dkotok.substack.com/p/terrific-i... #Markets #Investing
Inflation may surge again thanks to the tax-law giveaways
“There will be some additional fiscal jolt,” said David Kotok, co-founder of Sarasota, Florida-based Cumberland Advisors
Continued: www.usatoday.com/story/money/... #Inflation #Economy
“There will be some additional fiscal jolt,” said David Kotok, co-founder of Sarasota, Florida-based Cumberland Advisors
Continued: www.usatoday.com/story/money/... #Inflation #Economy
Inflation may surge again thanks to the tax-law giveaways
The Trump administration's signature tax law changes may stoke inflation in the early part of next year. Here's why that's worrisome.
www.usatoday.com
December 3, 2025 at 1:03 AM
Inflation may surge again thanks to the tax-law giveaways
“There will be some additional fiscal jolt,” said David Kotok, co-founder of Sarasota, Florida-based Cumberland Advisors
Continued: www.usatoday.com/story/money/... #Inflation #Economy
“There will be some additional fiscal jolt,” said David Kotok, co-founder of Sarasota, Florida-based Cumberland Advisors
Continued: www.usatoday.com/story/money/... #Inflation #Economy
I have fond memories of the time Ed D'Agostino and I were in Havana with a GIC delegation visit to the Cuban Central Bank and various government ministries. Unfortunately for Cuba’s citizens, recommendations from our dialogue were ignored by their government.
dkotok.substack.com/p/terrific-i...
dkotok.substack.com/p/terrific-i...
Terrific Interview for Understanding Today’s Markets
Ed D’Agostino’s interview with Michael Howell, former director of research at Salomon Brothers, on global liquidity and asset markets is a must for any thoughtful investor. It’s an incisive discussion
dkotok.substack.com
December 2, 2025 at 3:29 PM
I have fond memories of the time Ed D'Agostino and I were in Havana with a GIC delegation visit to the Cuban Central Bank and various government ministries. Unfortunately for Cuba’s citizens, recommendations from our dialogue were ignored by their government.
dkotok.substack.com/p/terrific-i...
dkotok.substack.com/p/terrific-i...
In this OpsTalk episode, host Martin Mezei chats with David Kotok, who co-founded Cumberland Advisors in 1973 and managed to run it for 52 years without a single fine or violation. This conversation is packed with old school wisdom that still works today: www.youtube.com/watch?v=y7dA...
5 Decades, Zero Fines: The Business Rules That ACTUALLY Work | David Kotok Interview
Your competition is probably still burning cash on overpriced local hires while you could be building a killer team for a fraction of the cost. Book a call with our team to hire top overseas talent…
www.youtube.com
December 2, 2025 at 1:20 AM
In this OpsTalk episode, host Martin Mezei chats with David Kotok, who co-founded Cumberland Advisors in 1973 and managed to run it for 52 years without a single fine or violation. This conversation is packed with old school wisdom that still works today: www.youtube.com/watch?v=y7dA...
The Ukrainian soldiers I have met and spoken with are reflective of a citizen army. They are not politicians or professional soldiers. That said, they have become more battle hardened, and they seem determined to protect their country from Russian invaders. dkotok.substack.com/p/an-after-a...
An After-Action Report from Camp Kotok 2025
Ukrainian soldiers are a citizen army trying to defend themselves and their families against tyranny and murder from Putin’s Russian thugs. We profile an effort to help, featured at Camp Kotok 2025.
dkotok.substack.com
November 30, 2025 at 7:55 PM
The Ukrainian soldiers I have met and spoken with are reflective of a citizen army. They are not politicians or professional soldiers. That said, they have become more battle hardened, and they seem determined to protect their country from Russian invaders. dkotok.substack.com/p/an-after-a...
An After-Action Report from Camp Kotok 2025
- Ukrainian soldiers are a citizen army trying to defend themselves and their families against tyranny and murder from Putin’s Russian thugs. We profile an effort to help: dkotok.substack.com/p/an-after-a... #RussiaUkraineWar #Ukraine #SlavaUkraine
- Ukrainian soldiers are a citizen army trying to defend themselves and their families against tyranny and murder from Putin’s Russian thugs. We profile an effort to help: dkotok.substack.com/p/an-after-a... #RussiaUkraineWar #Ukraine #SlavaUkraine
An After-Action Report from Camp Kotok 2025
Ukrainian soldiers are a citizen army trying to defend themselves and their families against tyranny and murder from Putin’s Russian thugs. We profile an effort to help, featured at Camp Kotok 2025.
dkotok.substack.com
November 30, 2025 at 4:20 PM
An After-Action Report from Camp Kotok 2025
- Ukrainian soldiers are a citizen army trying to defend themselves and their families against tyranny and murder from Putin’s Russian thugs. We profile an effort to help: dkotok.substack.com/p/an-after-a... #RussiaUkraineWar #Ukraine #SlavaUkraine
- Ukrainian soldiers are a citizen army trying to defend themselves and their families against tyranny and murder from Putin’s Russian thugs. We profile an effort to help: dkotok.substack.com/p/an-after-a... #RussiaUkraineWar #Ukraine #SlavaUkraine
Crescent moon setting over Lido Key, FL.
November 26, 2025 at 3:29 AM
Crescent moon setting over Lido Key, FL.