Our theme remains the same as past weeks. We have a commodity focus. In commodities we can find reasonable values. We are gun shy in chasing after the priced to infinity stocks. We have been here before. From experience we can say that the party is great until its not. The correction with the amount of money in passive investing through ETF’s combined with computer trading can and will create the types of corrections as March of 2020. Down 30% in three weeks. One of these times, the market isn’t going to snap back and it’s game over for a year or so.
We also like a strong exposure to Blockchain. Notice I did not say Bitcoin. Blockchain industry is multiple times larger than Bitcoin and Crypto, over the coming decade. We will get exposure to Bitcoin, but we really want a strong exposure to Blockchain apps and development. At this time Galaxy Digital (BRPHF) is the best play in our humble opinion.
I know I sound like your old man or grandpa. It’s ok. I would be defensive except that since we started writing, we have hit double digit numbers, of price doubles. In the Nat Gas Industry list we published, we have nine doubles since August.
We are close to getting another couple of doubles in the Ten Under $10 for the Double in Calumet (CLMT) and Galaxy Digital (BRPHF). Bitcoin is breaking out to new highs as we write this so positive news for Galaxy Digital if the price on Bitcoin holds through the weekend. That would make five more, none repeating, names for price doubles in addition to the Nine Nat Gas industry list.
I am pretty sure we have a chance to get a double of better in Karora Resources (KRRGF). The fundamentals, additional resources, growth prospects and valuations are at a great combination of levels we rarely see. Of course, we are in a world where reality doesn’t mean too much – until it does. I am being cheeky, so don’t mind me. There are multiple deep value ideas that will play out in an upward direction. We are hunting for more to share. We also have been in this game long enough to know that this market is special and it’s not me or my super stock picking skills. Its simple profiling and trying to be in the right place at the right time.
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* An account related to LOTM holds a position in this security.
Neither LOTM nor Tom Linzmeier is a Registered Investment Advisor.
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