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NA.TO/HCG.TO: Four Things I Learned in the Past Week about Canadian Financial Institutions – Rhetoric vs. Reality

December 7th, 2015

We spent much of last week reading, listening, and analyzing the slew of earnings releases, financial supplements, and conference calls from the largest banks across Canada.  Had we known the results and...

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Canadian Housing: The Demographic Crisis No One Seems to Talk About

October 5th, 2015

Let’s play a little game called “guess the country with a pending demographic crisis”. Here are some hints to start out with, for this country:   1) the median age has increased from 32.9 in 1990 to 40.5 in 2015, 2) the percentage of population...

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NA.TO: Surprising Capital Raise Could Spook Investors, It Might Not Be the Last…

October 1st, 2015

After the close, National Bank of Canada announced that it plans to raise $300MM through a common equity offering of 7.2MM shares at a price of $41.90. The deal is “bought” and is expected to close on 10/9/15.  Considering that much...

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Canadian Housing: The Pressure Point – MIC’s and Private Mortgages Have Become the Central Lynchpin Holding Up the...

July 16th, 2015

“The vulnerability associated with household indebtedness remains important and is edging higher, owing to an increase in the level of household debt and the ongoing negative impact on incomes from...

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NA.TO/HCG.TO/RON.TO: The Canadian Housing Market - Dancing on the Edge of a Razor Blade, Time to Get Short

March 10th, 2015

“Get busy with the facts, No zodiacs or almanacs, No maniacs in polyester slacks, Just the facts…. The small gets big, It’s a rig…. You better run homeboy, A fact’s a fact… Roll the...

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Current Ideas

CTC

SHORT

$101

ATGE

SHORT

$15

AYI

SHORT

$108

HCG.TO

SHORT

$0

RON.TO

SHORT

$9

BIG

SHORT

$28

ESI

SHORT

$0

BGG

PAIR - LONG BGG/SHORT TTC

25%

TTC

PAIR - LONG BGG/SHORT TTC

25%

Z

SHORT

$14.00

NA.TO

SHORT

$22

ING.PA

SHORT

$35

ZU

SHORT

$15

TRLA

SHORT

$20

MCRS

SHORT

$31

APOL

SHORT

$35

OPEN

SHORT

$30

BCO

LONG

$35

WWE

LONG

$25

KNL

PAIR - LONG KNL/SHORT MLHR

25%

XOXO

LONG

$20

CSGP

SHORT

$100

GCA

LONG

$8

IPSU

LONG

$20

MLHR

SHORT

$22

ARC

LONG

$12.50

LOOP

PAIR - LONG CSGP/SHORT LOOP

40%

THQI

LONG

$35

WPO

SHORT

$275

COCO

SHORT

$0

HNI

SIG

RGR