Gregmal

It's kind of a question to anyone who is playing this "rally". My trade, is effectively shorting the calls. TLRY for example selling ITM calls, IE $50 strike at least several months out(this is basically the best way to outright short while getting around the hard to borrow fees), and/or selling the far OTM calls for massive premiums(more or less betting this doesn't appreciate an insane amount further, plus also holds those insane levels).

In the marijuana space. Just depends on what side. Curious to see if anyone is playing this and how they are putting their ideas into action. Personally I think there are several money in the bank opportunities with to sell longer dated calls on names that have gone up 3-4x in the past few weeks, 30-50% higher than their current prices, for staggering premiums. Some examples, CRON has calls going out to 2019 at $25 where you can get $1-$2 share. TLRY you can sell the $115 March Calls for $12, which also happens to get you past the IPO lockup. Valuations were said to be stupid at much lower prices, this lately just seems to be a squeeze and the retail idiots trying to retire early, so I can't really think of a better and cheaper way to play it than above. Certainly better than paying 50-100% borrows or paying massive premiums for puts. Did the same thing with some of the Bitcoin plays like RIOT and also several of the other "fad" stories we've seen the past few years. Have found this to be effective along with selling deep in the money calls as well.

Shorted some longer dated OTM TLRY calls

Sanjeev, I applaud your transparency and effort to go above and beyond. While I believe PDH to be terminally ill, I think you have done a ton to be truthful and transparent, and if you were ever to start with a completely clean slate, I'd be willing to throw you some money. I just think this one is too far gone. I'm not being facetious when I say this, but I feel like I have better odds going to AC and putting it all on red than investing in PDH.

IDK, you can literally make 10% a year without trying being 50% in cash and 50% in high quality US equities. Why screw around with Turkey?

https://nypost.com/2018/08/29/paul-singers-hedge-fund-values-sky-at-more-than-34b/ LOL he's at it again. And then tomorrow he'll agree to take less...This guy is so predictable.

I will also point out that there are certain internal goals that the company is looking to achieve in order to uplist. This likely includes getting a greater institutional presence, specific market cap, and in general awareness within the capital markets. This deal certainly helps that goal. I would also point out, that there is a good liklihood that this deal was struck at a premium to the then current market price of HTL. These deals typically take at least a few weeks to work out. At the time of my write up a couple weeks ago, this was trading at .94 CDN.

Yup, great move for many reasons. Have made up my mind about the relevance of a rollup strategy beating the odds in this specific industry. The criteria I have used and will use are: 1-operational capacity to create value 2-premium paid for acquisitions 3-financing strategy for the shareholders already on board @Gregmal, Obviously, the 3 criteria above are interdependent but, if your fair value of the shares now is at least between 1.85 and 2.45, what to you mean by "great move" if new shares are issued at 1.10? I place greater importance on the company being able to execute on it's longer term growth initiatives than I do on shaving a few percent off of the current FV. They will need to raise funds, and given the run this has had and the willingness of an institutional shareholder to step up(in certain ways, this is essentially a strategic partner) all in all this is a good move. If for instance, they find another Gynamed, well then you justify doing this deal every single time.

https://www.cnbc.com/2018/08/29/tesla-ceo-elon-musk-reignites-pedo-guy-cave-diver-controversy.html This guy is just insane

Yup, great move for many reasons.

From what I've heard, Musk is one of those on the floor guys. He's at times been said to be too involved. Kind of like the opposite of the Steve Jobs quote about how he can do pretty much anything anyone else at Apple can do but doesn't waste his time because he rather do things that everyone else can't. Musk has struck me as much more of a delegater of tasks, who then happens to tag along to boost morale. While also doing his own stuff. He is definitely trying to do too much. And as far as posting on Twitter, that's kind of irrelevant. It seems to come up a lot with Musk, or even Trump, but the reality is it takes next to no time or effort to do. It's just kind of a silly talking point for detractors. I mean I probably post on this site more than most, and it literally takes next to no time out of my day to do so. Nothing. Musk probably spends a lot of time reading and following the news. All his tweeting together might take up a few minutes of his time per day.

Oh man. Good luck. Went through this nonsense is 2013. A year removed from college and self employed. The magic equation didn't work unless I got rid of my $700 a month car lease. The catch was I needed to show proof I owned a car. Ended up having to buy out the lease early and then buy a $5,000 used car so we could substitute to $700 with a $0. Lease buyout was $5,500 as well. Didn't have student loans but can relate to the bs of having to make the equation work even when you can clearly afford it. Normally I'm incredibly sensitive to making the right financial moves, but when it comes to buying your home, especially the one you plan to live in, and raise a family in for the next 20-30, just make it work.

https://www.engadget.com/2018/08/27/robot-hunts-lionfish/?yptr=yahoo Pretty darn cool here. Could help solve a big problem. It would be cool if they could then harvest the fish in a manner that maintains it's freshness. Lionfish is absolutely fantastic eating. AFAIK it's only available in south Florida currently.

You could make the same moat argument for Turtle Beach. I'm not really interested in the moat aspect, but more so the reputation of the company and how the brand continues to be viewed. I'd be curious to hear why people think this has gone out of favor? They are definitely in the right place at the right time. Maintaining the brand image and executing are key here.

Thought I'd bump this. Been buying this recently as valuation has come back a lot and recently traded at around a $1B EV which is more or less half the valuation it traded at in a recent round of funding prior to IPO. More relevantly, is this not basically a pure play on Esports? I think it's compelling here.

At worst you're looking at a de minimus fine and a consent decree IMO

We're all human and we all make mistakes - I think he had a costly anchor bias with Sears. Not sure about other factors. I agree but I mean all three are investments that just jump out as common sense speculative, to at worst utterly terrible. Sears he'd been wrong for so long he had enough information to can it several years ago, before his performance really slipped. FNMA I get, but it's entirely speculative, will consume a ton of resources, and is way to big an allocation. And JOE is just such a no brainer bad investment I don't really know what to say there either. The fact that ALL THREE of these made/make up the bulk of his portfolio is crazy.

Agreed with your sentiment. I've been another company with Ka-Shing ties lately, Razer. It was massively overvalued about a year ago at IPO. Lately you've been able to buy it for about a 1B EV which is half the price it was getting in private funding rounds prior to the IPO.

Agreed. The long term "drivers" for IVF are strong and perhaps not fully appreciated. IMO, the age when pregnancies occur will continue to climb and the male component somehow will play an increasing role. Puzzling reference which corroborates multiple other studies: https://www.ncbi.nlm.nih.gov/pubmed/28981654 IMO the clinical lasers will continue to play a significant, growing and complementary role. Results achieved at IVF clinics are variable and relatively poor. New techniques are evolving and some are promising, especially when couples go for additional cycles after a first attempt. For nonspecific infertility, laser-assisted hatching has potential and for male-based infertility (where HTL plays a diagnostic role with its software), intracytoplasmic sperm injection may become more common. I assume that IVF results will continue to improve by a better selection and match of existing techniques to infertility profiles and by newer techniques. https://www.hamiltonthorne.com/index.php/applications/clinical-laser-applications/clinical-laser-assisted-hatching http://americanpregnancy.org/infertility/intracytoplasmic-sperm-injection/ Looking now at Vitrolife. Good stuff, thanks. Vitrolife is a good investment as well IMO. I just think HTL is following the same playbook and has a longer runway in terms of rolling up the space in a meaningful way. HTL management had indicated they have active discussions with over 150 companies regarding strategic transactions. Simply a law of large numbers thing but many of these companies wouldn't move the needed for Vitrolife but can be very accretive for HTL.

Sold this. Can't argue with 15%+ in under two weeks. Better lucky than good. Still think reducing US exposing would be wise. Canada looking intriguing.

https://seekingalpha.com/pr/17251014-hamilton-thorne-announces-record-revenue-ebitda-quarter-ended-june-30-2018 Record numbers across the board as expected. Organic growth as expected, margins got a bump, and Zandair acquisition more or less indicated to follow the same playbook as thought. Cash pile continues to grow as well. They continue to execute flawlessly.

It's both. I am certain this guy takes more than his fair share in fees for "helping" homeowner meet investor.

Yea I don't think too highly of Elliot. Too many scumbag incidents. The Alcoa or whatever the spin off name situation reeked. The whole NXP is worth at least 135 on a standalone basis and then a day or two later agreeing to 127... They're scoundrels IMO.

I think it all really depends on what they are getting and the potential ROI's. I am new to this completely, so I probably don't have the same insight you or others do yet. But just because the market is cash restricted doesn't mean that buying royalties vs buying their own shares is the best risk adjusted return for shareholders. For example, a company I have invested in called Geospace is notoriously conservative. Yet they sat around and made excuses for the past year why they won't buyback stock when the shares are trading at generational lows and significantly below IV; while the company holds a robust balance sheet. Something I call "conservative bc you're stupid". Too scared to act. Vs "conservative bc you're smart" which is seen no better example than WEB who's conservatism is seen justified when there's blood in the streets and he's firing off bazookas and loading up on tremendous deals. Maybe this is what these guys are doing. I'd lean towards saying it is. I've just never been able to reconcile how management teams talk about how their stock is cheap when they arent buying it both personally and with company resources. If they think it's worth $20, and it's at $12, well you better be getting some pretty damn good royalty deals otherwise it seems you are just "buying royalties cuz we're a royalty biz and that's just what company's like ours are supposedta do". I feel like any competent management group should be prioritizing share repurchases when even a modest undervaluation exists simply because it should be the assets they know best and have the most control over.

Altius does re-purchase shares. It has a very, very long history of significant buybacks, and their timing is usually spot-on (catching the bottom). Check SEDI. I’m sure they’ve bought back more shares, on a percentage basis, over their 20 years of existence than most companies in the royalties/resources space. Buybacks are one tool in the arsenal. Altius uses that tool well. Ok thanks. Perhaps I misread an earlier poster's comment. Been briefly looking at this and Birchcliff as potential investments and in the early stages of DD. This thread is pretty informative, just really long.