Filtering Ideas: Learning to Say No
Dean’s latest post in the "How I Run My Portfolio" series argues that mastering the art of saying no is essential for both managers and investors. He describes how, after becoming a manager of 30+ reports, he learned to prioritize and delegate rather than try to do everything. The same principle translates to investing, where refusing to evaluate every opportunity preserves mental bandwidth and capital for higher‑conviction ideas. He also ties the habit to personal life, emphasizing boundaries that protect family time, health, and creativity.
Geodrill Q1 2026 Update – GEO.TO / GEODF
Geodrill (GEO.TO) posted Q1 2026 revenue of $48.4 million, essentially flat year‑over‑year, but gross profit plunged 47% to $7.2 million and adjusted EBITDA fell 57% to $5.9 million. The decline drove gross margin to 15% and adjusted EBITDA margin to 12%, well below the...
Cronos Group Q1 2026 Update – CRON
Cronos Group posted a strong Q1 2026, with revenue climbing 40% YoY to $45.2 million and adjusted EBITDA more than doubling to $5.1 million, lifting the stock 6.4% intraday. Gross margin held steady at 42% while adjusted EBITDA margin expanded to 11%, reflecting...
ACDC Q1 2026 Update – ACDC
ACDC reported a disappointing Q1 2026, with revenue falling 25% YoY to $449.6 million and adjusted EBITDA plunging 58% to $54 million, yielding a 12% margin. Stimulation Services saw a 22% revenue decline, while the Flotek segment posted a 183% jump in...
Cipher Pharmaceuticals Q1 2026 Update – CPH.to
Cipher Pharmaceuticals delivered a stronger‑than‑expected first‑quarter 2026, posting $12.5 million in revenue, a 4 percent year‑over‑year rise, and an 82 percent gross margin—up six points from the prior year. Adjusted EBITDA jumped 25 percent to $7.7 million, pushing the adjusted EBITDA margin to 62 percent, well...
Book Review: Influence by Robert Cialdini
Robert Cialdini’s *Influence* maps seven psychological levers—reciprocity, commitment, social proof, liking, authority, scarcity and unity—that drive human decision‑making. The book argues that mental shortcuts help us conserve cognitive effort but also make us vulnerable to persuasion tactics. The reviewer finds...
Ensign Energy Services Inc. Q1 2026 Update – ESI.TO
Ensign Energy Services (ESI) posted Q1 2026 revenue of C$418 million (≈US$309 million), a 4% decline year‑over‑year, while adjusted EBITDA slipped 7% to C$94.8 million (≈US$70 million) and margin fell to 22.7%. The company boosted total capital expenditures 69% to C$65.3 million (≈US$48 million), emphasizing maintenance...
DIRTT Environmental Solutions Q1 2026 Update – DRT.to
DIRTT Environmental Solutions posted Q1 2026 revenue of $42.4 million, a modest 2.7% year‑over‑year increase, but gross margin slipped to 30.6% and adjusted EBITDA fell to $1.4 million, reflecting a 3.3% margin. One‑time reorganization expenses surged to $2.4 million, pressuring profitability. Despite the...
Viemed Healthcare Q1 2026 Update – VMD
Viemed Healthcare posted Q1 2026 revenue of $75.4 million, up 27% from a year ago, and gross profit of $42.8 million. Adjusted EBITDA reached $14.3 million, though margin fell to 19% as capex declined to $5.5 million and debt was trimmed to $8.3 million. Strong...
PHX Energy Services Q1 2026 Update – PHX.TO
PHX Energy Services posted Q1 2026 revenue of C$183.9 million (≈US$136 million), a 5% decline from a year ago, while gross profit fell 25% to C$30.4 million (≈US$22.5 million). Adjusted EBITDA dropped 26% to C$30 million (≈US$22.2 million), pushing the dividend yield to 6.8% on a C$11.80...
Selling
Dean Pettycash’s latest post in his "How I Run My Portfolio" series tackles the often‑overlooked art of selling. He argues that exits are not a single decision but a set of context‑driven choices, each requiring its own rationale. By categorizing...
Position Sizing
Dean outlines a judgment‑driven approach to position sizing, emphasizing that it’s the single biggest driver of portfolio outcomes. He recommends starting with 5‑10% of capital for an initial idea, using 2‑3% “half‑positions” for basket components, and scaling up or down...
Foraco International Q1 2026 Update – FAR.TO
Foraco International posted Q1 2026 revenue of $66.3 million, a 20% year‑over‑year increase, led by a 30% jump in mining services. Gross profit slipped to $7.1 million, pulling the margin down to 10.7%, while EBITDA rose modestly to $7.4 million (11.1% margin). The company...
Pulse Seismic Q1 2026 - PSD.to
Pulse Seismic (PSD) posted a dramatic revenue decline in Q1 2026, dropping to C$1.85 million (≈US$1.37 million) from C$22.76 million a year earlier. EBITDA swung to a C$1.47 million loss, and cash fell to C$13.1 million after a C$6 million dividend payout. The board raised the...
What Has to Go Right to Make Money
Dean outlines a practical framework for dissecting any equity investment by explicitly mapping the sequence of events that must occur for the trade to succeed. He shows how this roadmap informs position sizing, risk identification, and valuation ranges, especially for...