[Full Transcript] Sunny Puri Short This Mid-Cap Weapons Maker- 2018 Kase Learning Shorting ConferenceJacob Wolinsky
Full transcript of Sunny Puri, the Portfolio Manager of Anson Funds, from the 2018 Kase Learning Shorting Conference.
Please note this transcript may contain mistakes – this was done by a human but its impossible to get every word correct and the audio was a bit unclear at times – enjoy
…which we quantify our shorts. There’s thematic shorts, there’s <inaudible> 0:00:03.7 shorts, there’s major divergent expectations, fads, roll-ups, and expectations where analysts are living in denial. And asymmetries were sudden negative changes can change things. And misperceptions like fraud and accounting shenanigans, if you will.
A good example of a name that we have been involved with in the past is Nintendo. Everyone will remember a few years ago, everyone was walking around the streets of New York and everywhere else with their iPhones out and playing augmented reality through Pokémon Go. The stock after the long weekend went up <inaudible> 0:00:40.4. and for anyone who did the work with me thereafter, you would have realized the small company called Niantic, which was backed by Google, effectively had over 90% of the economics and Nintendo wasn’t set to benefit so it was a pretty easy, short to train and an example of a thematic investment.
Lakeland Industries is another example of short that we were previously involved in. Lakeland sold hazmat suits which were theorized to be particularly helpful during the Ebola scare of 2014. So the stock reacts for four points of gain dissipating, and did the same during SARS and H1N1.
Other thematic shorts we are looking at right now, which would probably require textbooks so I won’t go into them. I think, a year ago at thanksgiving, everyone was talking about watching cryptocurrencies. Today, not so much. In cannabis, there’s already been two presentations today so I won’t bore you guys with that. Just as a quick comment, <inaudible> 0:01:38.2 a year ago, 9% of their trading was on cryptocurrency-related stocks or the actual cryptocurrencies. And today, it’s 1%. And if you look at cannabis, it’s 6% trading today and it’s interesting to see where it goes in a year.
On to our presentation and I will start with a quick video to introduce it.
Okay, kids, you’re in for a real treat today! These gentlemen have currently volunteered to demonstrate how stun gun is used to subdue a suspect. Well, there is two ways to use a stun gun. Up close and personal or you could shoot it from a distance. Now, got any volunteers? Wanna come up here and do some shooting, huh? Come on up here. Let’s go handsome, come on. Now, it’s real simple. All you gotta do is point and shoot. All right? Okay. You don’t really want to do this. You can do this. Just focus. Don’t listen to this man. Let’s think this thing through. Finish Him!
Without further ado, our idea for the day is
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