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Just $1.83 a share

Apr 19, 2022

Good morning!

The markets are flat in the early going as you’d expect given geopolitics and rising rates but there’s a catch.

The street has gotten way too negative.

I’ve learned over the years that is almost always a sign that the markets are closer to a turn than people think. Short-term or longer term is still up for debate.

Call options – a bet on higher prices – are being given away which supports the narrative and reinforces my thinking BTW. No guts, no glory as the old saying goes.

Meanwhile …

Here’s my playbook.

1 – Masks off but no take off

People thought surely “this” would do it when it comes to airline stocks regaining their mojo but nooooooo.

Jet fuel is 30-35% higher than it was at the beginning of the year. There are massive staffing shortages and business travelers are slow-walking back onboard. UBS downgraded United! (Read) Delta, though, got an upgrade. (Read)

I’ll stick with Alaska which I think is a) a better airline and b) a far better investment. (Watch)

2 – Finance bros just got taken (again)

When you talk to anyone in the industry about DeFi (decentralized finance), they’ll tell you it’s great and fantastic because “it’s unregulated, bro!”Try telling that to Beanstalk DAO which just got cleaned out of $182 million. Interestingly, the exploit used to filch it all was completely legal according to the smart contracts … because the people who originally came up with the code didn’t think to prevent this. (Read)

Ironically, Beanstalk reportedly contacted the FBI for assistance which is logically looking at ‘em like are you stupid or what … oh, wait…Anyway, DAOs will hit the big time at some point but are better off left to the FinBros for now while they work the kinks out.Meanwhile, consider investing in a company that has the data engineering expertise needed to conduct widescale security testing as it develops. Like I dunno, Palantir.

3 – The mother of all rent rolls

Last year we talked about Blackstone’s $6 billion bet on buying and renting homes. Now the company’s rolling into what could be the motherlode … student housing … with a $13 billion acquisition of American Campus Communities. (Read)I think the “out of left field” play could be student loan companies like Navient because Blackstone is sure to raise rent across the board as students return, and not by small amounts either!

4 – TWTR: now there’s a stalking horse

Apollo Global Management – the massive global buyout firm that owns Yahoo – has apparently stepped into the fray. Sources report that the company is in discussions with not one but several Twitter suitors. (Read)

5 – Only $1.84 a share … what?

The global hearing aid market is a $10 billion market and one that insurance companies will protect at all costs because it’s forecast to double by 2030. But what if you could regrow the hair in your ear that enables hearing?Forking over a few grand for hearing aids could be a thing of the past. Shares of Frequency Therapeutics, an MIT incubator startup are trading at just $1.83 if you fancy a punt or a lottery ticket this morning.The average “target” is between $10 and $13 a share but I think that’s pie in the sky baloney or hype or both … it could just as easily go to $0.This is the kind of dirt cheap off the radar company that could morph into something a lot bigger years from now as part of an investing trend I call “Investing in Immortality.”