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AlphaNorth Asset Management Addresses Cannabis Boom Impact on Resource Investing
AlphaNorth Asset Management is an investment firm primarily focused on Canadian small cap names. Portfolio Manager Tina Byers, CFA explains that AlphaNorth manages a hedge fund prioritizing sub-$100 million market cap companies with the potential for high-growth as well as two mutual funds with focused on companies with market caps between $100 million and $1 billion. Byers reveals that the hedge fund is focused on technology and biotechnology companies but also has a stake in several resource plays. She discusses the impact of the cannabis sector on the resource space and admits that the cannabis boom has impacted retail commodities investing. This is especially true in the case of industrial metals, which are slower moving and cannot currently compete with the returns generated in the cannabis space. Byers points to Yangarra Resources Ltd (TSE:YGR) (OTCMKTS:YGRAF) (FRA:702B) as a name to watch because the company grew its production by 65 percent in 2018.