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

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

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

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