Insider commitment remains strong at steelmaker Stelco Holdings (STLC). INK Research takes a look at the stock which is a member of the inflation-sensitive INK Canadian Insider Index. The Index has been a top-performer in North America this year. (See the subscriber version for the INK Canadian Insider constituents link).
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Insider commitment remains strong at steelmaker Stelco Holdings (STLC). INK Research takes a look at the stock which is a member of the inflation-sensitive INK Canadian Insider Index. The Index has been a top-performer in North America this year, and INK institutional subscribers can view the constituents here: https://index.inkresearch.com/constituents.php
Exco Technologies short positions are cruising for a bruising
Exco Technologies (XTC) is turning out to be a case study on contrarian insider signals. Today, INK Research provides an update on the stock which it has been covering since Exco pulled out of its prolonged bear market in 2019.
Investing in Psychedelics: The "New Cannabis" for Investors
Psychedelics have been studied for decades, and investors are starting to take note this year with increased public awareness around mental health issues from the Covid-19 pandemic and more support from clinical research that proves the potential for doctor-prescribed drugs like psilocybin, ketamine, and MDMA to hold significant promise as therapeutics for depression, anxiety, addiction, and PTSD. Steve Hawkins, president and CEO of Horizons ETFs, recently launched the world’s first psychedelics ETF, providing investors with a new way to get exposure to this emerging healthcare sector. Horizons ETFs is one of Canada's largest ETF companies and the firm behind the world’s first marijuana ETF and the world’s first inverse Bitcoin ETF. Filmed April 28, 2021. Key Learnings: In 2019, the psychedelics industry was valued at approximately $2 billion US dollars. By 2027, it’s predicted that the sector will reach a market cap of nearly $7 billion. There are more than a dozen publicly traded psychedelic companies, several of which are on the Canadian market. MindMed and Compass Pathways are the first and only psychedelics companies to be listed in the U.S. on the Nasdaq. Big pharmaceutical companies have also entered the space such as Johnson & Johnson and AbbVie.
In this interview with Jason Buck of The Mutiny Fund, famed short-seller Marc Cohodes of Alder Lane Farm pulls no punches as he diagnoses the true culprits behind the exponential volatility in stocks such as GameStop: extreme leverage and the hedge funds who use it in order to juice returns. Cohodes argues that hedge funds like Point72 and Melvin Capital are creating significant systemic risk for all market participants, most notably themselves, and he congratulates the retail trades on r/WallStreetBets but warns them that, generally, buying a stock merely because it has high short interest is a very bad idea. He closes by sharing with Buck his personal journey during the 2008 Great Financial Crisis. Filmed on February 1, 2021. Key learnings: The stock market is not a game – it is a serious thing for serious people. The reckless use of leverage ought to be constrained by regulators, and all investors, institutional as well as retail, should be prepared to lose if they are wrong.
Real Vision CEO and co-founder Raoul Pal makes an emergency update to all Real Vision members on his current views as founder of GMI. The combination of market maker positioning, hedge fund positioning, retail positioning, excessive leverage, market technicals, and real economic risk from COVID are the biggest set of sell signals Raoul has ever seen, and although he understands why everyone is jumping on the current anti-establishment narratives around Robinhood, he believes people are missing the bigger story here of unprecedented market risk. All the stars are aligning, and Raoul is extremely concerned about what could unfold as soon as this week. In addition to outlining the major risks looming large, he updates his positioning and makes the case for owning equity puts, bonds, dollars, gold and bitcoin. Filmed on January 30, 2021.
Byrne Hobart, writer at The Diff, joins Taylor Pearson, co-chief investment officer of Mutiny Fund, for a wide-ranging discussion on everything from monopolization within technological companies to "Straussian" readings of Jerome Powell and Anthony Fauci to what the 800-year chart of real interest rates indicates about the history of capital markets. Hobart scrutinizes what the tendency of technological firms to mimic the major winners in the space means for the future of technological innovation and the venture capital industry as well as the capital that tracks it. After Pearson asks Hobart about the notion of "optionality" as applied to Airbnb, they discuss their risk/reward analysis of Bitcoin as well as the recent companies that went public via special purpose acquisition companies (SPACs). Filmed on January 8th, 2021. Key learnings: This interview contains many contradictory propositions such as the notion that bubbles can be useful and that citizens living during the fall of an empire have a better quality of life than those that lived during its rise. Hobart argues that SPACs as a whole offer little upside and that Bitcoin has a favorable (if skewed) risk/reward profile.