Exploring the market's runoff.
Joined September 2016
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$ZURA Q3 report looked fine to me. All eyes awaiting H2 readout. Just bought this last week, covered by calls. Options premia were off the charts then and still are quite large (e.g. while the stock was trading 3.36, my net price for the portion I covered with Nov 5C was 2.46. Even less for the portion I covered w Mar 7.5C). I realize readout could occur before Nov expiry and the options reflect the risk of a bad readout. I'm comfortable taking that risk.
Buying $KYIV here. Cheap optionality on a deal imo, and if no deal it should be fine too.
if $OGI grows even close to this, it will be a great play. I'm long Organigram and a few other Canadian weedcos.
Reading financial statements is useless if you don't understand the decisions behind the numbers. Understanding them is what helps you predict what comes next.
Comparing $OGI and Auxly ($CBWTF) on current numbers alone misses it. Ask why management does what it does.
A buyback isn't a growth signal. It can mean management sees nowhere better to invest, or it's propping up the price ahead of the next share offering. Auxly has diluted about 22 times since 2017.
Think like a CEO and stay unemotional.
As a long-time complainer about ADR fees, it is interesting to note the trickle of companies switching from ADR to direct listing.
gentle reminder that pipelines are way safer than oil by rail
build the pipelines
Strathcona Resources is proposing to ship up to 250,000 barrels of Canadian oil a day by rail to Prince Rupert and then on to overseas markets.
Only one thing stands in the way: Mark Carney's tanker ban.
Let’s create more 🇨🇦 jobs, get better prices for our resources, and be less dependent on the U.S. by voting YES to Conservative MP @DMcKenzieCPC's bill on Wednesday to scrap the tanker ban and put Canada first.
options pls on the levered ETFs when listed, preferably out to 1/29 🙏
$ANT - LEVERAGED ANTHROPIC ETFS FILED AHEAD OF IPO
Anthropic could see leveraged ETFs launch shortly after its Nasdaq debut.
🔸 $ANTT: 2x Long Anthropic ETF
🔸 $ANTZ: 2x Short Anthropic ETF
Both products aim to deliver twice the daily performance, in opposite directions.
The key takeaway: Traders are preparing for significant volatility around Anthropic's IPO. These ETFs are designed for short-term trading, not long-term holding.
SG retweeted
$MRNA My primary conclusion from watching retail providing their “hot takes” on ESMO $MRNA full data is that, in general, being long momentum and using AI has led to some extreme arrogance.
You could have the top oncologists in the world say the data were underwhelming, and some plumber would be writing in all caps on how those physicians have no clue what they’re talking about and this data is the best thing that happened to modern medicine ever. 10x better than penicillin.
Making money in a late stage frothy market and having a repeatable process for being fundamentally right about long term outcomes are two very different things. I’m guessing there’s a humbling moment coming in 2027.
SG retweeted
Past Lula victory reactions. Today's -28% is unprecedented, even if you measure from before the first round it's -19%. It is also worth noting the first round rally for Bolsonaro Jr's apparently victory was larger than the one for Millei's victory, which seems like an overreaction.
I like Andre Agassi. Thought his bio was great.
But if I could, I would bet against his company $AASP Agassi Sports Entertainment Corp., "a sports, media, and technology platform focused on the global racket sports ecosystem and built around the iconic brands of Andre Agassi and Stefanie Graf." Sadly, none of my brokers will allow me to do so.
AASP's main push seems to be its "Let's Play" pickleball facility, just formed but with huge ambitions. According to the Oct. 1 press release it will "aggressively pursue growth across four primary pillars: (1) International Master License Agreements, (2) Hotels and Resorts, (3) Domestic Clubs and Facilities, and (4) the Company’s planned Let’s Play Membership, a global community which will be designed with the goal of connecting players to Let’s Play and partner clubs around the world."
That's so out of touch. Agassi was an iconic brand in 2000, but sure not in 2026. Graf was a great player but never a brand. And pickleball, though fun, has peaked. The flagship franchisor of pickleball facilities, The Picklr, just filed for bankruptcy.
Agassi recently invested $1M in convertible debt into AASP. Ludicrously insufficient. That wouldn't even cover a single The Picklr facility, according to its franchise disclosure documents. AASP is sure to need a lot more if it gets off the ground. I expect it to incinerate cash and dilute shareholders to kingdom come.
another bombed out sector that seems ripe for a turn is solar. My faves here (which I own in buy-writes) are $FSLR and $NXT.
