highalpha1 wrote: @JayBanks: I will preface this response by stating at the onset that it is not meant to sound adveserial. However, your message is factually incorrect on so many point. I will do what I can do address just a few of those factually incorrect points.
First, the list of Nuttall's top 10 stocks are his actual top 10 holdings of his fund (i.e., Ninepoint Energy Fund) as of May 31, 2021) and NOT 'opportunties'. He is required by financial regulators to publicly disclose his top 10 holdings as is the case for all mutual funds in Canada.
Second, Nuttall has NEVER claimed to have held 20-25 companies in his fund. He takes on concentrated positions and consistently says that he holds only between 11-14 names in his fund at any given time.
I kind of addressed that case if I miss-understood the list if it was current holdings with this statements. Which I accept as the correct reasoning of the list, but as I said, it might be his Top 10 doesn't mean it's not a holding. And I was pretty sure in the past he has stated more than that but as I said before I don't follow him too closely, I'm not about to look through all his appearances, but I think we can agree his fund has more than just 10 holdings which is the main point I was trying to hit.
"And if that top 10 was current holdings, just because he has 7% of CJ, that doesn't mean it is one of his top 10 positions in a company. He likely has larger value positions in other company's especially since his acquisition was fairly recent, longer term holdings are likely much more valued in the Fund"
Third, there is no verifiable proof that he has completely sold out of his position in Cardinal. Read my original message carefully. What I said was that as compared to his public disclosure of top 10 holdings from April 30, 2021, Cardinal is no longer among them as of May 31, 2021. This means that he has either sold out of his position in CJ completely or he has significantly reduced the percentage of the net asset value (NAV) of his fund allocated to CJ. The proof of this is on the Ninepoint Energy Fund webpage, which discloses that CJ is no longer a top 10 holding. See: https://www.ninepoint.com/funds/ninepoint-energy-fund/
Your Message was not actually one I was referring to, JohnBP1 and a few others before his were just thrown out statements on it with nothing to back it up which is what got me going. And if those claims that he sold out were known, it would be nice to present verification, not just assume based on a large block of shares that showed up, increased volatility and it not being included on a top 10 list.
Fourth, at the time of Nuttall's last appearance on BNN (two weeks ago), he may have been the second largest holder of CJ stock. He will not tell you he is about to sell his stake in any of his holding before he actually sells it as that would drive the stock price down before he unloads. Likewise, he will not publicly tell you what he plans on buying before he does as that might riase share price before he buys in. This is not him being unethical -- this is what he should be doing to fulfill his fudiciary duties to his clients.
And I understand this and I agree with this, my issue was others where talking about him selling as fact, he may have, but I've been presented with nothing that has shown this, and so as you say since there is no proof unless he states it, it can't be used for fact by people.
There are a few other points about which you are incorrect, but I'll end this message for now. Hope you find the details of some use.