The end of summer is near. That means brokers, bankers and management teams are straggling back into the plush offices of downtown Vancouver and Toronto.
Many of them are coming back to smaller accounts and market caps than when they took off for their vacation homes.
The posterchild sectors of high risk capital in the first half of 2018 were the 3 C’s; Cannabis, Crypto and Cobalt. Today, crypto and cobalt stocks are heavily underwater.
Cannabis stock are trading at levels that make most stock market bubbles blush.
I’ve never been a big fan of the hype sectors.
Call me boring, old fashioned and value investor oriented. I don’t put millions of dollars into the pipedream of some market individual who is unblemished with success.
But the colossal busts that happened this year will set the stage for a chaotic and opportune next 4 months