Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Equity Bottom-Up

AdvisorShares Pure US Cannabis ETF / Equity Bottom-Up

<ul>
<li>A bombed-out sector down 80% from the peak is worth another look</li>
<li>Weaker companies have exited the industry or have already gone under </li>
<li>The sector ETF has a good risk reward  with catalysts ahead</li>
</ul>


A bombed-out sector down 80% from the peak is worth another look
Weaker companies have exited the industry or have already gone under 
The sector ETF has a good risk reward  with catalysts ahead


High Conviction Concentrated Growth Investing, Fallacy Alarm

Fallacy Alarm

High Conviction Concentrated Growth Investing

High conviction concentrated growth investing. Blends single stock, macro and thematic research into powerful long and short ideas. I am convinced that a robust and comprehensive investment process requires macro and micro considerations. And it requires a deep understanding what you are looking for and what you are invested in. Digitization has changed the dynamics both how businesses operate and how investors compete for returns. Ideas can scale much faster and fail much faster than before. The biggest value creation happens before it can be spotted in financial statements. As a result, my approach can be best summarized as high conviction, high concentration growth investing, embedded into a macro framework built on the realization that our current demographic set-up, monetary paradigm and innovation cycle will likely deliver a strong decade for nominal and real returns of productive assets.

<ul><li>Investing into cannabis stocks has been a soul-crushing experience for investors over the past 10 years.</li><li>Check out the performance of the Global Cannabis Stock Index below.</li><li>It’s effectively a complete wipe-out.</li></ul>

Investing into cannabis stocks has been a soul-crushing experience for investors over the past 10 years.Check out the performance of the Global Cannabis Stock Index below.It’s effectively a complete wipe-out.

Cross Asset Strategy

<ul>
<li>A monthly review of how the markets and our themes are currently performing</li>
<li>Analysing what went wrong and what went right in stocks and sectors</li>
<li>Highlighting positions added or removed from the thematic investment portfolio</li>
</ul>


A monthly review of how the markets and our themes are currently performing
Analysing what went wrong and what went right in stocks and sectors
Highlighting positions added or removed from the thematic investment portfolio


April Themes and Thematic Portfolio Review

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>Rescheduling Is the Single Biggest Catalyst for US Cannabis.</li><li>It removes the 280E tax burden that prevents US plant-touching operators from deducting ordinary operating expenses, which in many cases doubles the effective tax rate.</li><li>280E only applies to Schedule I and II drugs, so the proposed move to Schedule III would remove 280E.</li></ul>

Rescheduling Is the Single Biggest Catalyst for US Cannabis.It removes the 280E tax burden that prevents US plant-touching operators from deducting ordinary operating expenses, which in many cases doubles the effective tax rate.280E only applies to Schedule I and II drugs, so the proposed move to Schedule III would remove 280E.

WTR Small-Cap Spotlight Recap - Five Cannabis Trends for 2025

November Themes and Thematic Portfolio Review

United States

The AdvisorShares Pure US Cannabis ETF is an actively managed exchange-traded fund incorporated in the USA.  The fund seeks to seeks long-term capital appreciation by investing in the US Cannabis industry.

AdvisorShares Pure US Cannabis ETF (MSOS US)

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AdvisorShares Pure US Cannabis ETF (MSOS US)

MSOS – Going Higher!

A bombed-out sector showing good potential upside. The sector ETF offers good risk reward with catalysts on the horizon.

Rikki Malik

Dope or Nope?

Investing into cannabis stocks has been a soul-crushing experience for investors over the past 10 years. Check out the performance of the Global...

Fallacy Alarm

April Themes and Thematic Portfolio Review

We review overall market performance, our investment themes, highlighting additions and substractions in the thematic portfolio.

Rikki Malik

WTR Small-Cap Spotlight Recap - Five Cannabis Trends for 2025

Rescheduling Is the Single Biggest Catalyst for US Cannabis. It removes the 280E tax burden that prevents US plant-touching operators from...

Water Tower Research

November Themes and Thematic Portfolio Review

We review overall market performance, our investment themes, highlighting additions and substractions in the thematic portfolio.

Rikki Malik

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

MSOS – Going Higher!

​A bombed-out sector showing good potential upside. The sector ETF offers good risk reward with catalysts on the horizon.

Rikki Malik

Dope or Nope?

Investing into cannabis stocks has been a soul-crushing experience for investors over the past 10 years. Check out the performance of the Global...

Fallacy Alarm

April Themes and Thematic Portfolio Review

We review overall market performance, our investment themes, highlighting additions and substractions in the thematic portfolio.

Rikki Malik

WTR Small-Cap Spotlight Recap - Five Cannabis Trends for 2025

Rescheduling Is the Single Biggest Catalyst for US Cannabis. It removes the 280E tax burden that prevents US plant-touching operators from...

Water Tower Research

November Themes and Thematic Portfolio Review

We review overall market performance, our investment themes, highlighting additions and substractions in the thematic portfolio.

Rikki Malik

A bombed-out sector showing good potential upside. The sector ETF offers good risk reward with catalysts on the horizon.