If you are looking for the best ideas for your portfolio you may want to consider some of Long Cast Advisers top stock picks. Long Cast Advisers, an investment management firm, is betting on CynergisTek Inc (NYSE:CTEK) stock. In its Q2 2019 investor letter – you can download a copy here – the firm discussed its investment thesis on CynergisTek Inc (NYSE:CTEK) stock. CynergisTek Inc (NYSE:CTEK) provides information technology (IT) consulting services.
In July 2019, Long Cast Advisers had released its Q2 2019 investor letter. The investment firm said that CynergisTek Inc (NYSE:CTEK) stock was one of the top five positions held in Q2 2019. CynergisTek Inc (NYSE:CTEK) stock has posted a return of -60.1% in the trailing one year period, underperforming the S&P 500 Index which returned 12.6% in the same period. This suggests that the investment firm was wrong in its decision. On a year-to-date basis, CynergisTek Inc (NYSE:CTEK) stock has fallen by 63.9%.
In Q2 2019 investor letter, Long Cast Advisers said the fund posted a return of 1.0% in the second quarter of 2019, underperforming fund’s benchmark the S&P 500 Index which returned 4.3% in the same period. Let’s take a look at comments made by Long Cast Advisers about CynergisTek Inc (NYSE:CTEK) stock in the Q2 2019 investor letter.
“CTEK hired a new CEO, Caleb Barlow, who until recently was a VP for IBM’s IT Security division and founded it’s “X-Force Incident Response” team. I’ve seen models of success and models of failure when small companies hire large company folks as CEOs. Since it’s impossible to know the future, we will have to wait and see. The current CEO Mac Macmillan made no secret of his desire to retire. Mac is expected to remain both on the Board and a large shareholder. I sent Caleb a note welcoming him to our company; it’s appended here.”
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Video: Top 5 Stocks Among Hedge Funds
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