From my own portfolio: Cereno Scientific got a FAST TRACK decision today. The stock briefly touched 11 SEK, now back to 10.3 SEK -- still up 6.5% on the day and 87% YTD. Should be another +87% in the cards if the promised news flow holds this fall. My preliminary target, albeit admittedly on pretty shaky grounds being a biotech, "phase", company, is SEK 17.50-20- Mineros (3.22 CAD), my absolut favorite gold mine, 50 y old, 4.5% dividend yield, run rate 'P/E' (EV/E) och just 2.5 based on H1 numbers and spot gold price of $3350 has started moving. They seem to be looking into debt financing now, potentially to expand business faster, maybe more acquisitions like the recent La Pepa purchase. So, strong growth, aggressive new owners/management vid Sun Valley + Gold Logic holding 68% of the company, high dividend, and extremely low cash adjusted PE. This could ptentially be a 10x stock over 4 years [to 30 CAD], and if it doesn't go to 3x in 2 years, i.e. around 10 CAD, I'll swallow one of my Kruger rand 1 oz coins! Canagold (0.485 CAD) is pausing just below the 0.50 CAD mark, up 3x (+200%) since my entry at 0.17 CAD. It's up by 75% YTD and should likely increase by at least 75% the coming 12 months as the environmental and mining permits situation becomes clearer, as well as the collaboration/agreement with Taku River Tlingit First Nations who are the key land owners. Cana has much more explosive upside than Mineros, being a potential 100-bagger over 7-10 years. However, Cana admittedly has several key hurdles to manage, including permits and mine construction -- both political and weather related risks, not to mention financing and construction/organizational challenges. EMX (4.60 CAD) is also moving higher, +85% YTD, being a royalty holder of both copper and gold and an asset light royalty streamer. Both EMX and Mineros are stocks with a clear path to going to "11". Literally, i.e., the shares going to 11 CAD. That entails just little more than a doubling for EMX vs 3.5x for Mineros. EMX however has a lot lower risk, and is asset light, not burdened by fixed asset investments and mining operations. EMX on the other hand is higher valued and doesn't pay a dividend like Mineros does.

Hi, Have four small caps that would be interesting to go through. I have concluded that it’s much easier to get a grasp around smaller companies and find values before others start to get interested. All companies are earning money and have a solid BS. For disclosure, I have invested in all of them. The companies are: Norditek - Technology to recycling of materials. Still early but with EU rules coming that demands builder's to increase the proportion of recycled materials the future looks interesting. Intellego Technologies - have a technology to measure colorimetric ultraviolet indicators with a huge global market. Even though the stock has rallied the stock is cheap if the contract they have signed will materialize. Sustainable Group - The main owners built Opus and sold it. Now they want to do a new journey with Sustainable through building a company around products that could enhance sustainability. They just bought a company that will double the turnover and increase earnings. Waystream - access switches to FTTx. After Europe banded Huawai and DZS have gone busted the way for Waystream is open. They are the number one player in the nordics for community owned fiber networks and they have now started to sell to the Nordic telecom companies. They could easily double its turnover when the existing buyers will go back to a normal replacement cycle. They also have started to expand to Europe. The Europe market is far behind with broadband and will expand like crazy after decisions from EU the next 2-5 years. Every European country has its own expanding plan reporting back to EU. Would be really interesting if someone would like to have a look or if we could do a deep dive into these companies. Have a great weekend!!

- First Test of Live Webinars and Tesla Shorting - Future Hype Cycles and Tesla's Valuation - Tesla's Irrational Valuation and Future Prospects - Psychology of Investing - Emotional Control - Psychology of Investing - Position Sizing - Psychology of Investing - Additional Resources - Market Priced for Perfection - Mega-Cap Returns Over the Next Decade - Sources of Growth for Tech Giants - Valuation Multiples and Economic Limits - Comfort with High PE Ratios - Impact of Size on Opportunity - Historical Examples of Tech Dominance - Challenges for Large Companies - Risks for Mega-Caps Over the Next Decade - Competition and Innovation Disruptions - Potential for Radical Innovation and Geopolitical Impact - Consumer Behavior and Future Trends - Question about Transocean (RIG) - Transocean Analysis Karl-Mikael Syding discussed Transocean, an offshore contract trading service for oil and gas wells, noting its small market cap of 2.2 billion. Despite having high cash production when profitable, the company's share price has significantly declined since 2008 and is near all-time lows. - Financial Situation Karl-Mikael Syding observed that Transocean has reduced its debt but still holds 6.6 billion, with an enterprise value of 8.6 billion, questioning what supports this valuation. While EV to sales appears low, EV to EBITDA is seven times, which isn't expensive if profitability and growth are expected. However, Karl-Mikael Syding pointed out they haven't produced profits recently, although cash flows from operations seem stable at around 500 million. - Sustainability and Risks Karl-Mikael Syding questioned the sustainability of Transocean's strategy of maintaining existing rigs without building new ones, relying on higher oil prices. The company's cash from operations translates to very small free cash flow, making it a highly leveraged play on oil prices. Karl-Mikael Syding highlighted risks including oil market prices, demand for deep-sea rigs, and potential political restrictions due to environmental concerns. - Investment Conclusion Karl-Mikael Syding stated that with the current high leverage, reliance on oil price improvement, potential recession, and political risks, they cannot recommend Trans Ocean as a good investment at this time. Karl-Mikael Syding concluded the session and mentioned future Q&A opportunities to expand their audience.

An excellent way to find interesting stocks to analyze is to look at good companies that have fallen sharply. They might of course actually be value traps, but it's a nice place to start if a lot of other people used to think it was worth 5x as much and it's still the same company. EVOLUTION might be such a fallen angel. WHAT WERE THEY DRINKING? The risk in Evolution is in a way 20% lower now after the 20% price fall on weak earnings today. An investor today still faces the same coming future stream of cash flows as an investor yesterday. The difference only being that the investor today has more clarity regarding this past quarter, and possibly a slightly better guess for the following few. After that the water turns just as dark as before It certainly looks like a good time to be accumulating shares starting here at 675 SEK -- quite the opposite from during the buying frenzy around 1700 SEK four years ago. WHAT were the thinking?! I thought it was overpriced back then due to political risk and high valuation multiples. Now, however, at the current P/S and P/E, it’s a totally different story -- a 2,5x different story, and 4 years closer the future stream of cash flows, i.e., another factor of 1.75 less discounting to do (15% per year for four years)! Evolution thus has 4.4x more upside now than it did then. It’s still not a certain money maker of course, but way, way, wayyyyy better today at 675 SEK than at 1709 SEK in spring 2021. Please note, however, that we’re still likely facing a year of global economic slowdown, and Evolution probably has to get through a few tough quarters, so don’t spend all your money at once. But do start analyzing, setting price alarms and start nibbling, for example a tenth of your desired number of shares per month.

5-pagepitch Metacon Som alltid när bubblor spricker dras hela sektorer över en kam, även bolag som faktiskt har ngt vettigt på gång. Cleantech-bubblan inget undantag. Att grovt summera svenska ”vätgas-produktionsutrustningsbolaget” Metacons förutsättningar och jämföra med andra nu döda eller halvdöda bolag inom cleantech är en intressant övning: 1) Ovanpå cleantech-bubblans krasch har två emissioner under 2024 urholkat priset på Metacons aktie, trots att pengarna relativt uppenbart har genererat långsiktiga bolagsvärden. 2024 har renderat i ett flertal fundamentala framsteg som marknaden än så länge helt förbisett. Metacon har därmed inte bara lyckats överleva, utan också manövrerat till förbättrad och billigare slagsida. Vid mitten av Q1 2025 hade Metacon ish 80 miljoner i kassa. Merparten av genombrottet ”Motor Oil-ordern”, värd 344 miljoner kronor, förväntas under andra halvan av 2025. Applicera standardmarginal 20% och standard P/E 20 ger ett – om än isolerat för just denna transaktion– bv på ish 1,6 miljarder. I skrivande stund värderas Metacon till 184 miljoner kronor. Jämför: Undvika köp på toppen och sälj på botten är något man kommer långt med på börsen. Cleantech värderades orimligt högt för ett par år sedan. Många brände sig i kortsiktiga spekulationer om aktiers pris. Idag är cykeln i andra änden av spektret. Metacon just nu är en möjlighet till kalkylerad långsiktig risk i billigt fundamentalt värde. 2) Den stora trenden som drev och fortfarande driver cleantech, klimatförändringar, är förmodligen ännu mer aktuell nu än då. Nearshoring och energioberoende har senaste åren blivit ytterligare två drivande makrotrender. Olika former av förnyelsebar energi kan med god verkningsgrad omvandlas till vätgas för att lagras, förflyttas och användas i en mängd olika applikationer och former som egenproducerat drivmedel. Jämför: Vätgas överbryggar glappet mellan förnyelsebara energikällor och applikationer med krav på styrbarhet och kraft. Tidigare en makrotrend i ryggen, idag tre.