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August 20, 2019

Weed Stocks Get “Smoked”


Last month, I wrote an article about the cannabis sector, pointing out that supply growth is massively overshooting limited legal demand growth in Canada. Since then, Q2 earnings proved out this point. You know it’s bad when industry leader Canopy Growth (CGC – USA) grows net revenue by 249% but sees gross margin shrink from 43% to 15% (yea, I know, there’s some moving ... Read More
Categories: Investments
Positions Mentioned: MJ
August 19, 2019

Shipping Update


I have now written a number of bullish pieces on the shipping sector (article 1, article 2, article 3). My previous articles speculated that a confluence of factors would mark a bottom and lead to a rather impressive recovery in the sector. Those articles were all theoretical, speculating on a recover. Now, we’re finally starting to see dramatically increased charter rates. At the same ... Read More
Categories: Investments
Positions Mentioned: STNG
August 12, 2019

Altisource


A few weeks back, I wrote about “long-shorts.” These are companies that see their businesses improve when the overall economy deteriorates. I’m increasingly convinced that we’re about to see a real doozy of a recession here in America. It will likely be exaggerated by whatever happens in Asia. While shorting gets all the attention, I would much rather own businesses that do well when ... Read More
Categories: Investments
Positions Mentioned: ASPS
August 5, 2019

If He’s Tweeting It…


About a year ago, I was watching Real Vision (highly recommend subscribing if you aren’t already subscribed) and saw an interview with Kyle Bass where he made a very prescient observation. Eventually, President Trump will discover that the President has the power to wield tariffs against any country as he wishes. Then all hell will break loose. It really was one of those “aha ... Read More
Categories: Investments
Positions Mentioned: DXY
July 15, 2019

These Shareholders Must All Be Stoned…


I have watched the publicly traded Canadian cannabis sector in stunned awe for the past few years. I really cannot think of a worse place to be invested. You have the basic economics of growing celery, with all the government regulation of an HMO, complete with the regulatory risk of manufacturing pharmaceuticals, with a two-tier system of legal and illegal producers—where legal prices are ... Read More
Categories: Investments
Positions Mentioned: MJ
July 8, 2019

Prime Minister Mitsotakis Goes On His Honeymoon…


Much as I predicted 6 weeks ago, New Democracy won by a landslide. In fact, their majority is larger than expected and they can now form a government without a coalition. Additionally, the Nazi party has lost all seats in Parliament (usually a good thing for fund flows). As I write this, my position in the Greek ETF (GREK – USA) is up 14% ... Read More
Categories: Investments
Positions Mentioned: GREK
July 1, 2019

Clean-Up Print In The Russell…


“Yo Kuppy!! I’ve been working this order for 5 million shares for the past two months, I have 400k left. Gonna print em in the hole ‘cause it’s end of quarter and seller needs out. I’m taking 300 for the house account. You want the rest? “Hell yea!! Take 25 cents a share on that!!” Did it matter what I was buying? Not really, ... Read More
Categories: Investments
Positions Mentioned:
June 25, 2019

Giga-Roll


Given the amount of time I’ve spent talking about Tesla (TSLAQ – USA) on this site, I’d be remiss if I didn’t point out that I materially changed my position over the past few days. Back in October of 2018, I felt that shorts were pressing their bets a bit too hard and noted that, “…All evidence seems to show that they’ve used every ... Read More
Categories: Investments
Positions Mentioned: TSLAQ
June 7, 2019

CAD Is “Breaking Out”…


I don’t talk much about currencies on this site, but that doesn’t mean I don’t “play” them. As an equity market participant, I have to figure out which currencies I want my accounts denominated in. The mere fact that your account is denominated in USD on day 1, is the tacit admission that you have a structural view on USD. For this reason, I ... Read More
Categories: Investments
Positions Mentioned: CAD
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