Camp Kotok
Camp Kotok (“CK”) is an “by invitation” event initially developed and implemented by David R. Kotok and now in conjunction with Cumberland Advisors and the Global Interdependence Center for prominent economists, wealth managers, traders, heads of research, pundits, financial luminaries, and often a few journalists, authors, and individuals associated either directly with Cumberland Advisors or with the financial industry.
Fishing, wine, and conversation are the hallmarks of this annual event held at Leen’s Lodge in Grand Lake Stream, Maine, one of the state’s most remote venues (www.leenslodge.com). In recent years, craft beer has also made a prominent appearance, many brewed locally in Maine further making a positive economic impact on the area's communities.
Here, attendees spend a long August weekend fishing on some of the most pristine lakes in the country; a place to breathe deeply, feel the earth, and replenish the mind with intellectual and stimulating conversation. Vigorous debates are regular and run the gamut from market valuations and the rise of exchange-traded funds to Federal Reserve policy, virtual currencies, and health care. It’s easy to see why some even in the financial press refer to Camp Kotok as the “Shadow Fed.”
Attendees are bound to “Chatham House Rules” (participants are free to use the information received, but neither the identity nor the affiliation of the speaker(s), nor that of any other participant, may be revealed). General thoughts, ideas, forecasts and comments, however, can and are discussed and published outside of CK with implicit permission. Cumberland Advisors has published a series of videos and written interviews with campers desiring to go on the record.
This annual gathering broadened in 2002, after David Kotok invited several other September 11, 2001 “survivors” to spend the weekend reflecting on the one-year anniversary of the attacks. Many of the original Camp Kotok attendees had escaped from the World Trade Center and surrounding buildings, and lost friends on that fateful day. Those who attended that year decided to go back the following year… and so on.
Now, these weekends in Maine have become a staple for those “in the know” in the financial industry. Please see Sharon Prizant's thoughts on "What is Camp Kotok???" here where she brings her observations through many years of attendance into a thoughtful synopsis: https://www.cumber.com/camp-kotok/what-camp-kotok
A glimpse behind the screen door at Camp Kotok
Posted: Thu August 9, 2018
Riding Shotgun With a Bear Behind the Wheel
ByCrystal KimAug. 7, 2018
Bear country beckoned. Economists, portfolio managers, pundits, and Barron’s flocked to Leen’s Lodge in the backwoods of Maine for the annual fishing trip hosted by Cumberland Advisors’ David Kotok lovingly dubbed “Camp Kotok.” The five-day confab promised discussions about the state of the economy, markets, and, of course, the day’s catch.
To get there, we hailed a ride…
Posted: Fri December 1, 2017
[caption id="" align="aligncenter" width="480"] Richard Yamarone sings Folsom Prison Blues[/caption]
By now many know that Richard Yamarone passed away on November 28th, 2017 at age 55. There are many of us who enjoyed his company in Montana and in Maine as part of annual gatherings of fishing, discussions, and camaraderie. We mourn his loss.
I can picture in my mind when he picked up the guitar and sang Folsom Prison Blues. I can picture him standing on the deck at Leen’s…
Posted: Thu August 24, 2017
What is Camp Kotok???
Originally published August 2017, featuring minor updates as time progresses.
This is not a routine Cumberland Advisors Commentary! Rather than offering commentary on issues and events of importance to the investment and advisory community, this Commentary reports on a very unique and special event for the investment and advisory community known as "Camp Kotok", held annually at Leen's Lodge in Grand Lake Stream, Maine, one of the State’s most remote…
Posted: Thu August 24, 2017
What is Camp Kotok???
This is not a routine Cumberland Advisors Commentary! Rather than offering commentary on issues and events of importance to the investment and advisory community, this Commentary reports on a very unique and special event for the investment and advisory community known as "Camp Kotok", held annually at Leen's Lodge in Grand Lake Stream, Maine, one of the State’s most remote venues (www.leenslodge.com). Many have asked about this event; here is an overview.
…Posted: Tue August 22, 2017
I have returned from mandatory block leave and from my annual pilgrimage to Camp Kotok. The trip is a gathering of economists, current and ex-Fed staff, traders and journalists in the bucolic backwoods of Maine. This year’s gathering also included a visit from Susan Collins, one of three Republican senators voting “No” to the hastily-crafted skinny repeal health care bill. Most time was spent talking about the economy, markets and the financial industry. Here are the topics and themes I…
Posted: Wed August 16, 2017
John Mauldin of Mauldin Economics shares some musings about his time and participation at Camp Kotok. His full account at the URL below.
Camp Kotok is an invitation-only gathering of economists, market analysts, fund managers, and a few journalists. It takes place at the historic Leen’s Lodge in Grand Lake Stream, Maine. We fish, talk, eat, drink, and talk some more. It’s a three-day economic thought-fest (and more rich food and wine than is good for me or anyone else at the camp).…
Posted: Wed August 16, 2017
Asjylyn Loder, reporter for the Wall Street Journal, writes about Camp Kotok in the following article.
The economic predictions from the annual gathering known as Camp Kotok resemble two smart people trying to steer a canoe: lots of zigging and zagging to get back to the same place.
Every year, David Kotok, chief executive of Sarasota, Fla.-based Cumberland Advisors, invites about 50 economists, money managers, former central bankers and others to a fishing camp at the northern…
Posted: Tue August 15, 2017
This is the second article by Katie Darden in a two-part series about Camp Kotok, a yearly gathering of economists and financial professionals organized by Cumberland Advisors Chairman and Chief Investment Officer David Kotok. Click here to read the first part.
There was plenty of pessimism at Camp Kotok this year about the direction of U.S. leadership both at home and abroad. But while the gathering's namesake sees ample cause for concern, he also sees some reasons for optimism.…
Posted: Tue August 15, 2017
Yesterday, I flew home from five days in Maine that I spent with John Mauldin and other top economists and fund managers at the annual Camp Kotok economics/fishing retreat. The weather was beautiful; I even caught some delicious fish.
I’ll describe some of the fascinating late-night discussions in future letters. One reason why they were so fascinating is no doubt the peace and quiet at camp that encourages deep conversation. You see, the Camp Kotok venue, Leen’s Lodge, is in a remote…
Posted: Tue August 15, 2017
This is the first article by Katie Darden in a two-part series about Camp Kotok, a yearly gathering of economists and financial professionals organized by Cumberland Advisors Chairman and Chief Investment Officer David Kotok. Click here to read the second part.
Camp Kotok's horizons extend far beyond the woods of Maine and the borders of the United States, but achieving a truly international perspective remains a challenge.
Every summer, David Kotok invites economists, money…
“CNBC and others began calling Camp Kotok the “Shadow Fed” but it is really just a meeting of wickedly smart people focused on economics and markets.”
John Mauldin
