End of Sept 2022 Update - $OSS.v, $STC.to & $SANG, $MCB.to, $CPH.to

I don't know if Credit Suisse is a shitco

Thoughts on Market Activity

Another eventful couple of weeks in the market. The indexes took a pretty hard hit and down 5-6% depending which one you use. Even the energy and cyclical heavy TSX is down about 12% YTD. Nasdaq is clocking in down over 30% YTD. Personally, I am off 1-2% YTD. So down less after underperforming in 2021.

$CPH.to, $VMD.to, $STC.to, $KUT.v, ISDR 0.00%↑ are shown here. They comprise about 75% of my portfolio. The reminder is a basket of O&G service cos, $OSS.v and some positions I am building or trying to exit.

Looking at my top 5 holdings I should have sold everything and went all in on CPH. Had I done that, I would have traded almost as good as the anon accounts on Twitter.

What I’m Reading

• This post following up on inflation by Aswath Damodaran is interesting. He does a good job of using data in his explanations.

• I enjoyed this from Nelson over at Uproar Capital. It reminded me of my own journey going full time and all the emotions at the time.

Podcasts I Enjoyed

• Nuclear Power Isn’t Perfect. Is It Good Enough? on Freakonomics Radio.

  Interesting discussion on why it’s so hard to increase our energy being supplied by nuclear. The psychological and political reasonings are pretty hard to comprehend at times. They take the approach of “doing less harm” when it comes to energy policy which may convince a few on the fence.

• The Challenge of Managing Inventory during the pandemic on This Week in Intelligent Investing.

  Really interesting conversation about going all on working capital during the covid boom times and what that looks like now. Perishable vs non-perishable inventory and post covid demand (given different products) is going to be interesting. I hadn’t looked at PTON in a long time, but I remember being pitched it by a few of my gym friends during one of the lockdowns.

• Marc Cohodes on The Business Brew.

  Though I don’t follow Marc closely, this one was entertaining. I really enjoy some passion on podcasts rather than bland and almost emotionless investors.

Posts

• $MCB.to Update

• $HWO.to new profile

Other News

I made my way back to Twitter last week. Feel free to give me a follow or shoot me a DM.

Company Updates    

• OneSoft Solutions - $OSS.v

  • released first phase of integrity-as-a-service

    • pretty big news for the company

    • two quotes from the article

      • “OneBridge intends to charge a flat fee of (US$) $4,950 to conduct Runcoms involving two ILI datasets and $500 for each additional historic ILI dataset that is uploaded for analysis.”

      • “Costs to conduct Runcoms by PIG vendors and third-party consultants using legacy methodologies typically range between (US$) $10,000 and $50,000, depending on how many candidate anomalies are analyzed in the process, and generally require weeks or months to complete.”

    • so they are cheaper, quicker and more accurate

  • announced a partnership with Uptake Technologies

    • another nice collaboration

• Sangoma Technologies Corp - $STC.to

  • reported fiscal Q4 2022

    • results were ahead of what I was expecting from an operational standpoint

    • they had a writedown which I was disappointed with

    • they guided for about 10% growth in top line and ebitda

• McCoy Global - $MCB.to

  • announced the formation of strategy and capital allocation committee

    • all independent directors

    • the chair of the committee will be issued performance share units that vest December 31, 2025 with a 4 times multiple

• Cipher Pharmaceuticals - $CPH.to

  • another NCIB announced for up to 10% of the outstanding

    • good news and nice to see they utilized the previous NCIB well

Long - $OSS.v, $STC.to & $SANG, $MCB.to, $CPH.to