Greg Canavan (fat tail investment advisory) is advising followers to take profits in IZZ – up a genuine 45% since his recommendation. His charting suggests a lengthy consolidation or correction might not be far off. Part of his comments:
“Since the January 2024 low, the ETF is up nearly 90%. Since the initial recommendation in June last year, it’s up 45%. And since the portfolio kicked off on 1 December, it’s up around 30%.
Following this strong move, IZZ now trades on a PE of 15 times, and a trailing yield of 2.6%.
China is no longer the bargain it was .. “
Not Held
