u/pittluke

Reiterating positive outlook and great recent results. Fairly banal.

1. Authorizing the BOD to do the split passed. I believe up to 23 -1? shares. So they are just giving themselves the option. Personally assuming they will split when the have the uplist all lined up and the most efficient ratio calculated.
2. Mentioned they had "started buy backs" and will continue. So that accounts for some of the volume and could reasonably expect some more. Definitely need retail to join the party.

I appreciate the professionalism. All the numbers sound great and this thing is very undervalued relative to industry comps. They are a well oiled machine at this point and they are laser focused on their current footprint. Which is good for now.

Americans look poised to flip the house and senate, so there is going to be a push to legalize state by state, then maybe nationwide with more green friendly leadership in the next two years. The states are ready for this and it is very populist.

Sounds like they are planning a little capex to further improve margins particularly with pre-roll. They are going to be leaning into imperial for international expansion. Sounds like a solid partner/owner. Wonder how the margins look outside of footprint.

Petty complaint is I cant stand the amount of times Hugo mentioned "innovation." Its a buzzword they think analysts like. They are trying new higher premium lines with Southpoint. Thats all. Seems to be going well. Just reminds me of calls that over mention "vertical integration" or "flywheels" or something.

Keep smoking and buying Canada

You have to know these cold (not get thrown off by red herring info):

• Total Return
• Current yield / dividend yield
• Nominal / Real return
• Future Value compounding problem
• Tax equivalent yield for Muni comparison
• Price to Earnings calc
• Assets = L + OE
• Cost basis and capital gains

Lower value calcs that could show up:

• Rule of 72
• Once in a blue moon there will be a CAPM problem
• Simple options premium paid for buys or collected as income when selling
• Tax on ISO
• Convertible bond or Preferred stock parity

Feel free to add more!

The standard thing I hear is: "I picked up my calculator ~3 times." Ive heard it being as low as none, and as high as 8. But out of 140 questions, that should tell you something.

Every persons test is different!

Oil, and uncorrelated commodity, had a sharp decline over the weekend but volatility continues. Futures traders, who buy and sell contracts on exchanges, are still pricing in a sharp decline in oil over the summer. They are assuming the War in Iran will end soon and the strait of hormuz will open unabated. This systemic shock has affected global markets and has been fuel, pun intended, for a rise in inflation, which we measure with CPI.

As inflation rose, yields have followed, pushing up interest rates across the yield curve up with all maturities. Prices, of course, have moved in the opposite direction, with 30 year treasury bonds falling to 20 year lows.

Micron and chip manufacturers which is a "specialized" sector we call semis, have been on a moonshot recently. Partially due to the ongoing AI capex. But also, this move has been driven by much higher than normal (buying) call volume from options traders. Shrugging off the glut of economic uncertainties, the market continues to float higher.

For advisors looking to hedge these record valuations, perhaps buying puts may be an option you speak to your clients about. But also keep in mind, that betting on the market going down, especially via shorting is an extremely risky endeavor. We measure risk adjusted return via the Sharpe ratio, which could surely help you sort through the riskier investment opportunities going forward. Remember, no amount of technical analysis can predict the top. So keep dancing according to the Efficient Market Hypothesis?

The move is not without naysayers. Some bears say this bullish move is nothing but momentum trading and FOMO. P/E ratios, which measure price to earnings valuations of companies, across the SP 500 continue to push much higher than their historic averages. Passive investing which gives a constant bid (or buy) automatically on SP 500 indices, normally via ETFs or mutual funds, have pushed Americans defined contribution plans or 401ks to record levels. Market bears warn this hands off, low cost, marketed weighted automatic buying could cut both ways in the case of economic or earnings slow downs. We will see!

Watch out of the Space EX IPO coming soon!

We get a lot of questions about where to start? and what to do last? before the test...

Aside from the typical "watch the furu videos on youtube" my answer is always, review the official study guide from the test writers themselves. Make sure you have summary knowledge of everything on these guides.

Series 65 Study Guide

Series 66 Study Guide