Happy June 1st. This month’s newsletter is light on writing and heavy on links because I’m focused on my upcoming CFA test. After I take the bloody test, I’ll write and publish more.
Salona Global Medical Device Corp. ($SGMD) provided an update! I encourage you to watch their recent webcast and read their filings. The snowball is almost formed and it’s at the top of a long hill. The stock will soon trade freely again.
SPACs and de-SPACs are interesting right now.
Some SPACs with great investors as sponsors (Altimeter Growth Corp. 2 (long), Bridgetown Holdings Limited, Bridgetown 2 Holdings Limited, and Dragoneer Growth Opportunities II and III) are trading close to NAV. The gist of it is, heads you win, tails you don’t lose much. I could be wrong, but I think I’d be comfortable having SPACs take up a large (30%) plus position in my portfolio because, so long as you buy close to NAV, it’s like owning a stock with T Bill downside and potential Shopify upside. Seems like a good risk-reward ratio.
Until next time,