Everyday Capitalist

Q3 update - primary brokerage accounts were roughly flat at $1.6M over the past 3 months despite quick pullbacks in $csu.to and $tvk.to. Onwards and upwards.

@deepvalueco Hard to launch without a more shareholder friendly capital allocation policy

I wonder... $mrd.to

@bizalmanac The best! What it’s all about!

Fucking awesome to be able to celebrate wins w/ friends Was able to do so tonight with somebody who had two this week over hot wings, smash burgers and a pitcher of Michelob 🥳🍔🍻

Reasonable Q4 and FY25 earnings out today on $NWC.to

@plasticnewt3 @KairosPraxis Shorted this hard last year and make good money. Shareholders were given a gift today. They can gripe all they want about premium, this company was an absolute dog.

The price is low. We're awaiting the formal valuation, but I can already guarantee the discount rate used will be punishingly high because of the completely biased and mechanical way in which formal valuations are performed – formal valuations discount cash flows using the cost of equity + a company specific premium + a size premium. For $BLN.TO, this means the DCF has a very high discount rate and it's discount presently non-existent cash flows. Doing this type of valuation mathematically results in a low valuation of equity. We're told this is fair game because the stock is a smallcap and the transaction provides liquidity. Of the rolling shareholders, only Cody is getting CVRs and his stake is dwarfed by the PE firm and rolling shareholders, creating a perverse incentive for the enterprise not to achieve ARR targets. I suspect we're going to get a formal valuation that doesn't base valuation on ARR (e.g., EV/ARR multiple), yet shareholders are being handed a CVR dependent on it. I will have more to say once I see the takeover bid circular. In general, formal valuations for Canadian smallcaps are a joke and the justification behind the use of such punitive discount rates is incredibly suspect. My favourite example is the $OM.V takeout – the discount rate used was 20-22%, cash flow negative at t=0.

@myownadvisor Maybe if you’re in the likes of Regina, are without hobbies, and have an aversion to nice things 😆

Canadians now need $1.7 million to retire myownadvisor.ca/canadians-now-…

@TheWiseIC @mythmakrr Most definitely. Also likely to have taken more accounting courses than your accountant. Cheers.

@EverydayCap @mythmakrr Are you retarded?

How did $bam $bam.to get absolutely decimated

@dividendbuff Keep grinding. Compounding works such that a good day in the future will equate to today’s entire portfolio. It’s a game of decades. 📈

A solid day for the portfolio 📈

Well, if you’re sitting on a bunch of cash, now comes the easy part. You just buy the bottom.

Sad to see $gh.to taken out today, even after the 30% premium to my purchase price of $10.30 just over a year ago.

“Bear in mind it is the hard reality of investment life that it is almost impossible to have both cheap valuations and good news.”  - Barton Biggs

@realnotbuffett You and I seem to turn over the same rocks

$TWM.TO currently trading at 1x EBITDA guidance... tremendous buying opportunity here

@ShaleTier7 Any thoughts on $hme.v expanding production?

Very slow to start this morning, if anyone wants any questions answered on any Western Canadian plays comment below and I'll share the recent well results and some thoughts and maps.

Could it be that the economics of the incremental toll volumes at $vci.c no longer work with higher energy (transport) costs?

@tsxman Slowly getting filled…. Block by block.

$MRC.TO George Armoyan continues to buy. He has taken down $2.8 million worth of sleepy Morguard in March. Almost everybody who held this has capitulated on it due to the inaction over the years. He's rich enough to wait and prob triple his money w/ wide margin of error I guess.

A lot of investing success comes down to playing offense when others are playing defense and vice-versa. Now is the time to play offense.

@nachkari Great opportunity for those willing to overlook the lower ‘26 production forecast and buy for what this looks like in ‘28 onwards.

Scary proposition

@ABDanielleSmith Ditch it 👌

Should Alberta ditch changing the clocks and stick to one time year round? Tell me what you think below 👇