How Small-Caps Can Win In Volatile Markets: Arcstone Securities & Investments
CEO.CA Sep 10, 2026 5:52
Summary
Small-caps that prepare financing documents before volatility hits raise capital at fair valuations, while unprepared issuers miss brief windows.
ArcStone and Kingswood formed a full-service investment bank in December 2025, adding equity research, roadshows, and an institutional sales desk.
Michael Astone argues the Fed has little room to raise rates and calls oil above $90 short-lived given Iran tensions.
Metals and mining dominate summit interest as attendees debate whether gold retests $4,000 or climbs back above $5,000.
Pre-PEA (Preliminary Economic Assessment) miners look undervalued ahead of summer drilling news flow hitting in the fall.
Michael Astone's takeaways
- Top takeaway Argues the Fed has little room to move interest rates, saying the system, middle-class mortgage holders, and the real estate sector are already under pressure, and expects oil above $90 to be short-lived.
- Says investors should focus on fundamentals: many small-caps are undervalued, especially pre-PEA names, and summer metals-and-mining drilling news flow should hit the market from fall 2026 into Q1.
- Calls this a 'market of windows' — companies that do not prepare their shelf, audits, and research in advance miss financing windows when headline risk, like an 800-point Dow drop, closes the market.
- Expects a 3-to-5-year defense tech bull market on rising government spending, sees quantum computing in its early innings and good opportunities in AI, and is staying long a number of names.
- Says Arcstone and U.S.-based Kingswood formed Arcstone Kingswood, a full-service investment bank, in December 2025 after SEC and CMA approval, and that another acquisition is underway.