Contra The Heard
@contratheheard.bsky.social
Contra the Heard is an information service for investors. Our goal is to profitably invest while sharing the choices that we make. Views are not advice.
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There are dozens of ways to succeed in capital markets. Half the battle is to match your strategy and philosophy with your temperament and skill set. Here is our investment philosophy:
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Click the link below to subscribe or sign up for free content here: contratheheard.com/subscribe-now/
Crowds create noise. Independent thinking creates opportunity. If everyone agrees with you, the alpha is probably gone.
June 10, 2026 at 2:04 PM
Crowds create noise. Independent thinking creates opportunity. If everyone agrees with you, the alpha is probably gone.
Skip the IPO and SPAC hype. To understand a company, you need history. Avoiding stocks listed under five years lets you focus more on business prospects and less on hype.
June 5, 2026 at 1:52 PM
Skip the IPO and SPAC hype. To understand a company, you need history. Avoiding stocks listed under five years lets you focus more on business prospects and less on hype.
While everyone is chasing data center stocks and flashy software apps, Neo Performance Materials (#$NEO.TO) is uniquely positioned to succeed in the AI race. In our latest Globe & Mail feature, Phil MacKellar breaks down why.
Read the breakdown here.👇 www.contratheheard.com/the-contra-g...
Read the breakdown here.👇 www.contratheheard.com/the-contra-g...
Neo Performance Materials: Look Past the AI Data Centre Hype to the Critical Metal Buildout – Contra the Heard
"description" content="Neo Performance Materials offers investors exposure to the critical minerals powering AI infrastructure, electrification, and advanced manufacturing. Philip MacKellar explains w...
www.contratheheard.com
May 30, 2026 at 2:26 PM
While everyone is chasing data center stocks and flashy software apps, Neo Performance Materials (#$NEO.TO) is uniquely positioned to succeed in the AI race. In our latest Globe & Mail feature, Phil MacKellar breaks down why.
Read the breakdown here.👇 www.contratheheard.com/the-contra-g...
Read the breakdown here.👇 www.contratheheard.com/the-contra-g...
The sweet spot is 20 to 35 names; it’s diversified enough to offer protection but concentrated enough to move the needle when stocks move.
May 25, 2026 at 3:38 PM
The sweet spot is 20 to 35 names; it’s diversified enough to offer protection but concentrated enough to move the needle when stocks move.
You don’t need a "perfect" stock, just a good business at a cheap price.
May 22, 2026 at 12:04 PM
You don’t need a "perfect" stock, just a good business at a cheap price.
Big names grab the headlines, but small caps deliver the growth. While the crowd argues about overvalued giants, we hunt for small, unloved, companies with reasonable valuations.
May 19, 2026 at 4:59 PM
Big names grab the headlines, but small caps deliver the growth. While the crowd argues about overvalued giants, we hunt for small, unloved, companies with reasonable valuations.
Real stock picking is uncomfortable. You’ll buy when others think you’re wrong and sell when others think you’re crazy. Conviction isn’t a feeling; it’s the result of doing work so deep that volatility can’t shake you out.
May 16, 2026 at 10:56 AM
Real stock picking is uncomfortable. You’ll buy when others think you’re wrong and sell when others think you’re crazy. Conviction isn’t a feeling; it’s the result of doing work so deep that volatility can’t shake you out.
Portfolio management is often about what you don’t do. Trade sparingly, ignore the market "pulse," and embrace uncertainty. Being a forced seller is the quickest way to kill your returns.
May 14, 2026 at 9:59 AM
Portfolio management is often about what you don’t do. Trade sparingly, ignore the market "pulse," and embrace uncertainty. Being a forced seller is the quickest way to kill your returns.
Forecasts tell you more about the forecaster than the future.
May 11, 2026 at 12:43 PM
Forecasts tell you more about the forecaster than the future.
Great businesses don’t guarantee great returns. The price you pay sets your margin of safety, and overpaying can turn excellence into underperformance.
May 4, 2026 at 1:02 PM
Great businesses don’t guarantee great returns. The price you pay sets your margin of safety, and overpaying can turn excellence into underperformance.
In his latest Globe & Mail article, Phil MacKellar explores why Bird Construction (#$BDT) is a prime example of why you should "let your winners run" and why heavy insider buying is a signal you can't ignore.
Read the full article here: www.contratheheard.com/the-contra-g...
Read the full article here: www.contratheheard.com/the-contra-g...
Bird Construction: Let your winners run and don’t sell to insiders – Contra the Heard
"Bird Construction’s strong execution and insider alignment highlight a key investing lesson: let your winners run. Philip MacKellar explains why insider buying—not selling—is often the more important...
www.contratheheard.com
April 29, 2026 at 2:46 PM
In his latest Globe & Mail article, Phil MacKellar explores why Bird Construction (#$BDT) is a prime example of why you should "let your winners run" and why heavy insider buying is a signal you can't ignore.
Read the full article here: www.contratheheard.com/the-contra-g...
Read the full article here: www.contratheheard.com/the-contra-g...
You have 0% control over what the market does tomorrow.
You have 100% control over:
- Your risk exposure
- Your reaction to the news
- Your adherence to your principles
You have 100% control over:
- Your risk exposure
- Your reaction to the news
- Your adherence to your principles
April 27, 2026 at 4:21 PM
You have 0% control over what the market does tomorrow.
You have 100% control over:
- Your risk exposure
- Your reaction to the news
- Your adherence to your principles
You have 100% control over:
- Your risk exposure
- Your reaction to the news
- Your adherence to your principles
Markets test your patience before they reward your foresight.
April 20, 2026 at 2:32 PM
Markets test your patience before they reward your foresight.
Friendly Reminder that we have Philip MacKellar presenting at the MoneyShow Virtual Expo on April 21st.
Presentation Times:
📉 1:05 PM EST – Common Value Investing Pitfalls
📊4:40 PM EST – Expert Stock Picking Panel
Register for FREE today to secure your spot:
online.moneyshow.com/2026/april/v...
Presentation Times:
📉 1:05 PM EST – Common Value Investing Pitfalls
📊4:40 PM EST – Expert Stock Picking Panel
Register for FREE today to secure your spot:
online.moneyshow.com/2026/april/v...
MacKellar, Philip
<font>Philip MacKellar is an analyst, portfolio manager, and investor at <i>Contra the Heard Investment Newsletter</i>. He has been with the company since 2011 and has been investing since 2004. The n...
online.moneyshow.com
April 18, 2026 at 10:11 AM
Friendly Reminder that we have Philip MacKellar presenting at the MoneyShow Virtual Expo on April 21st.
Presentation Times:
📉 1:05 PM EST – Common Value Investing Pitfalls
📊4:40 PM EST – Expert Stock Picking Panel
Register for FREE today to secure your spot:
online.moneyshow.com/2026/april/v...
Presentation Times:
📉 1:05 PM EST – Common Value Investing Pitfalls
📊4:40 PM EST – Expert Stock Picking Panel
Register for FREE today to secure your spot:
online.moneyshow.com/2026/april/v...
The higher the euphoria climbs, the thinner the margin of safety becomes.
April 16, 2026 at 3:02 PM
The higher the euphoria climbs, the thinner the margin of safety becomes.
Markets reward those who survive their mistakes. You don’t need perfection, you need durability.
April 8, 2026 at 12:52 PM
Markets reward those who survive their mistakes. You don’t need perfection, you need durability.
Markets can stay excited or scared longer than fundamentals justify. Don’t let momentum in either direction replace analysis.
April 3, 2026 at 11:19 AM
Markets can stay excited or scared longer than fundamentals justify. Don’t let momentum in either direction replace analysis.
The bottom of the market is the last day before the recovery begins. That is a prediction no one can accurately make.
March 30, 2026 at 12:20 PM
The bottom of the market is the last day before the recovery begins. That is a prediction no one can accurately make.
When you stop checking your portfolio every day, you start investing instead of speculating.
March 25, 2026 at 11:25 AM
When you stop checking your portfolio every day, you start investing instead of speculating.
Most investors mistake recent performance for brilliance. A stock goes up, it’s a “core holding.” A stock goes down, the thesis was “never that strong.” If your conviction changes faster than the share price, you never had conviction in the first place.
March 20, 2026 at 1:42 PM
Most investors mistake recent performance for brilliance. A stock goes up, it’s a “core holding.” A stock goes down, the thesis was “never that strong.” If your conviction changes faster than the share price, you never had conviction in the first place.
Outperformance comes not from comfort, but from conviction when others can’t see what you do.
March 12, 2026 at 3:43 PM
Outperformance comes not from comfort, but from conviction when others can’t see what you do.
M&A is often a gamble, but Enerflex’s (EFX.TO) acquisition of Exterran shows how patience can pay off for contrarian investors. Phil MacKellar breaks down why re-evaluating is key when fundamentals shift. 📈
Read more: www.contratheheard.com/the-contra-g...
Read more: www.contratheheard.com/the-contra-g...
Enerflex, Exterran, and How M&A Can Change the Equation – Contra the Heard
Enerflex’s share rally highlights why patience in merger & acquisition situations can be rewarding. Philip MacKellar explains how strategic waiting and disciplined valuation support better investment ...
www.contratheheard.com
March 4, 2026 at 1:26 PM
M&A is often a gamble, but Enerflex’s (EFX.TO) acquisition of Exterran shows how patience can pay off for contrarian investors. Phil MacKellar breaks down why re-evaluating is key when fundamentals shift. 📈
Read more: www.contratheheard.com/the-contra-g...
Read more: www.contratheheard.com/the-contra-g...
The market has no ego; it will gladly take your money while you try to prove you're right. Intelligence gets you in the door, but humility is what keeps you in the game.
March 3, 2026 at 1:23 PM
The market has no ego; it will gladly take your money while you try to prove you're right. Intelligence gets you in the door, but humility is what keeps you in the game.
Our General Manager, Phil MacKellar recently sat down with Trevor Abes on Stock House to discuss the discipline of contrarian investing, navigating overvalued markets, and why volatility is an opportunity, not a threat.
Read the interview here: stockhouse.com/news/newswir...
Read the interview here: stockhouse.com/news/newswir...
stockhouse.com
March 1, 2026 at 3:15 PM
Our General Manager, Phil MacKellar recently sat down with Trevor Abes on Stock House to discuss the discipline of contrarian investing, navigating overvalued markets, and why volatility is an opportunity, not a threat.
Read the interview here: stockhouse.com/news/newswir...
Read the interview here: stockhouse.com/news/newswir...