Contrarian Calls, Revisited: Liz Hall’s Bullish Calls on Games Workshop, Nintendo

Published March 1, 2022

Liz Hall said she was interested in Games Workshop (GMWKF) and Nintendo (NTDOY), in a September 2020 visit to the podcast.

Hall said she discovered Games Workshop, which manufactures Warhammer figurines and hobby collections, and knew she had to invest “because the people were so passionate.”

She saw similar potential in Nintendo (NTDOY) and purchased the stock at approximately $30 per share.

“I saw Nintendo Switch was coming out and everyone I knew who was into video games was raving about this thing,” she said.

Hall said she goes down “rabbit holes” on YouTube and Reddit learning about topics and cultures that interest her to find investment opportunities.

“I think there’s a lot of [investing opportunities] if you just chill and catch the vibe of what’s going on on the internet.”

What Happened

Contrarian Calls Revisited: Tobias Carlisle’s Bearish COVID Outlook in March 2020

Published February 23, 2022

Aquirers Fund founder Tobias Carlisle said the market was underestimating the impact of COVID-19 and made a case for value investing and his preferred shorts in a March 2020 episode, recorded on Feb. 26.

Carlisle said he could see “the market get hammered again” later in the year and that unlike other public health scares, COVID-19 had an impact on supply chains.

“I think it’s very likely that we see material weakness all year long due to coronavirus,” he said at the time.

Szn 4, Ep. 1: Barry Knapp on Uncertainty Shocks, Inflation, Economic Growth, and What Else to Expect in 2022

Published January 7, 2022

Barry Knapp of Ironsides Macroeconomics rejoins the podcast to discuss his 2022 outlook for the economy and markets. He is broadly optimistic on the former, but less enthusiastic about the latter — at least in the first half of the year — with strong possibility of ‘uncertainty shocks,’ especially around Fed events (sound familiar?) There is also some interesting discussion around interest rates, inflation, and China, among others.

Content Highlights

(Spotify users can link to the start of the section by clicking on the timestamp)

A lot has changed in a year, though probably nothing quite as much as the inflation outlook (3:04);
Markets and economics should diverge significantly in the first half of the year (4:51);
The Federal Reserve is due to embark on a rate-tightening cycle, which should be negative for markets but will be net-neutral, or perhaps even positive for the economy (8:00);
Inflation is running hot, but the guest has done some deep research on similar historical epochs and finds the concern less pressing than most (17:20);
The key level for inflation is 4% — if the CPI exceeds it consistently there could be trouble. Link to the Fed paper referenced here (21:33);
Still, there is a strong possibility for ‘uncertainty shocks’ in the first half of the year (29:52);
Finally, China: Reasons to be bearish. Very bearish (34:58).

More Information on the Guest

Website: IronsidesMacro.com;
Newsletter: IronsidesMacro.Substack.com;
Twitter: @BarryKnapp.

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