Daily Brief Thematic (Sector/Industry): Jerry Derevyanny: Frameworks for Cannabis Investing – [Making Markets and more

• Jerry Derviani, partner at Bengal Capital, discusses investing in the regulated cannabis industry since 2014
• Focus on unit economics and value creation in cannabis companies like Grown Rogue
• Opportunities for growth and success in expanding cannabis markets, such as New Jersey

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• Beji Sasaki is an unusual investor. He made a name for himself during the bubble economy of the 80s/90s as the ‘takeover man’ and despite not getting too much attention lately, he’s still active in the markets.
• He takes stakes in public companies and aims to improve profitability and wrest control.
• He’s an aggressive corporate raider looking to take control of public companies and maximize profits, a concept that’s anathema in Japan.

• U.S. stocks closed higher on Monday, with the S&P 500 rising 0.3% to a new record high of 5,719
• Tesla (+5%) shares rose after Wall Street issued a bullish delivery forecast ahead of its October robotaxi even
• Six of Japan’s seven major automakers are set to break records in capital expenditures and R&D spending this fiscal year

• Japan set to tick higher with more cuts on the horizon and markets mostly unchanged after yesterdays holiday.
• 6758 Sony announced a ‘State of Play’ where it will showcase 20 upcoming PS5 and PS VR2 games from 3rd party studios a day ahead of the Tokyo Games Show.
• Defence names may be in focus after Japan fighters fired flares at a Russian military plane which violated Japanese airspace three times off Hokkaido on Monday afternoon.

• AI is being recognized as a megaforce with trillions of dollars of impact on the global economy and broad implications across various sectors
• Investors are increasingly interested in the AI theme and its potential impact on portfolios, with a focus on what’s next in AI development
• The AI theme is still in its early stages, with advancements in technology, data growth, and computing power expected to drive exponential growth and value in AI over the next decade.

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• HDFC Bank is set to close a loan sale worth over $1 billion by September 2024
• Reliance Consumer Products Ltd. (RCPL) plans a nationwide FMCG expansion, extending its in-house brands
• SJVN generated 8,489 million units of green energy in FY24, despite hydrological challenges

• Meta faces $1.4 billion Texas biometric lawsuit settlement and a €1.2 billion GDPR fine for data transfers, alongside an FTC antitrust challenge targeting Instagram and WhatsApp acquisitions.
• Apple’s $26 billion annual deal with Google is under DOJ investigation for antitrust violations, while its App Store commission model faces increasing scrutiny, threatening a key revenue source.
• Google, holding 90% of the search market, is battling DOJ lawsuits targeting its advertising dominance, risking forced divestitures that could severely impact its $224 billion annual ad revenue.