It’s been a long, long time since Hoyer won a game as starting QB originally appeared on NBC Sports Boston

Though the Patriots haven’t confirmed it yet, all signs are pointing to Brian Hoyer starting under center Monday night when New England faces the Chiefs.

If Hoyer earns the start, he’ll be looking to do something he hasn’t done in four years and three days, or a span of 1,465 days: win a football game as starting quarterback.

Since Hoyer’s last victory — a 17-14 Bears win over the Lions on October 2, 2016 — Hoyer has lost 10 straight games as a starter, while predominantly serving as a backup over that stretch.

That losing skid involves three starts with the Bears in 2016, six starts with the 49ers in 2017, and one start with the Colts a season ago. Overall, Hoyer has completed 58.8 percent of his passes during the streak, averaging almost 220 yards per game while throwing seven touchdowns and seven interceptions, good for a QB rating of 75.8.

Perry: Why are Pats going with Hoyer over Stidham?

But while Hoyer hasn’t walked off the field as a starter with a win in over four years, he has managed to keep most of those games close. Eight of those losses came by a total of 24 points, with six coming by a field goal or less. Only two of the losses were double-digit defeats.

Considering the Patriots are 11-point underdogs for the contest — their largest point spread as underdogs since Super Bowl XXXVI against the Rams — oddsmakers aren’t expecting Hoyer and the Pats to keep it that close this time around against the defending champs.

But who knows? Maybe the 34-year-old journeyman can author a shocker.

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In the nearly six years since Greg Abbott has been governor of Texas, the Lone Star State has been the number one destination for U.S. businesses looking to relocate.

That includes California businesses. In 2018 and 2019, as many as 660 California-based companies pulled their stakes up and moved to greener pastures in Texas, where the cost of doing business is roughly 10 percent below the national average.

Next up is Tesla. The electric vehicle (EV) company is currently in the process of building its fourth factory in the Texas capital of Austin, a growing tech hub with a young, highly educated population.

A city in Texas may also be named headquarters to TikTok, the popular video-sharing app whose fate is still in limbo after Oracle and Walmart struck a deal to jointly buy the U.S. service from TikTok’s Chinese parent company, ByteDance. This could bring as many as 25,000 high-paying jobs to the Lone Star State, according to President Donald Trump, who favors Texas as the app’s HQ.

Gov. Abbott touched on jobs, the economy and more during a Young Presidents’ Organization (YPO) event I had the pleasure of attending last week just outside San Antonio. He pointed out that the Texas GDP, at $1.9 trillion, is bigger than the economies of Canada, Brazil and Russia.

“We’re bigger than Putin,” the governor quipped, eliciting laughter.

Abbott also briefly addressed the recent protests across the nation, some of which have unfortunately turned violent. Texas would always support people’s First Amendment right to peacefully protest, he stressed, but the moment a demonstration resorts to rioting and looting, it is no longer protected by the Constitution.

I recently shared with you that the multi-city riots between May and June alone are now estimated to be the costliest civil disorders in U.S. history, 

Even before the legalization of marijuana in Canada in 2018, cannabis companies were busy investing billions of dollars in facilities to meet implausible demand projections, as well as acquiring their competitors at inflated prices. Looking back, the entire series of events placed the foundation for a catastrophe in the sector. Indeed, the Horizons Marijuana Life Sciences ETF (TSX: HMMJ), an index that tracks the performance of sector constituents, is now down nearly 80% from all-time highs. 

Now that the bubble has burst, investors have opportunities to do the previously unthinkable — buy top marijuana stocks at a great value. Today, let us look at two companies in this category and how they can reignite their momentum for long-term growth. 

Hand holding  marijuana leaf towards the sky.

Image source: Getty Images.

1. HEXO

HEXO (NYSE: HEXO) is a weed producer that grossly miscalculated the demand for marijuana but quickly improvised to overcome its headwinds. The company focuses mainly on three production aspects — high-quality cannabis (greater than 20% THC content), value brands, and mass production of low-grade cannabis to squeeze out competitors in the black market. So far, HEXO has a leading market share of 33% in Canada’s second-most populous province, Quebec.

In the first nine months of fiscal 2020, HEXO nearly doubled its gross revenue year over year, from CA$38.7 million to CA$74 million. That’s even though the company sold a mere 25,427 kilograms out of its current annual production capacity of 90,000 kilograms of cannabis in the past four quarters.

As a result of this supply-demand mismatch, HEXO recognized a massive write-off of CA$111.9 million in goodwill and CA$42 million in unsold inventory, and took CA$106.2 million worth of asset impairments in January. Such non-cash losses did not continue into the third quarter.

Right now, the company has about CA$27.3 million in long-term debt

Co-produced with Long Player

The midstream sector is full of challenges, and the current uncertainties are very tough on this sector. There are many reasons for this which includes a rapidly slowing U.S. oil and gas production which could negatively impact many midstream companies. Therefore, in this sector, income investors are clearly best served by investing in the best company with the best management. Clearly the best-of-breed is Enterprise Products Partners (EPD). We explain later in this report on why EPD is one of the best high-yielding companies to buy and hold for the very long term.

Tax Note: EPD issues a K-1.

Recent Performance

The energy sector remains out of favor by investors. However, during the past several months, EPD has been a leader in the industry. It has strongly outperformed all the energy indexes including Energy Index (XLE) and the midstream index (AMLP) over the short-term and long-term periods. During the past six months, EPD has returned 20% including dividends.

ChartData by YCharts

Importantly for income investors, we are patient. We are happy to collect high income from super solid companies until Mr. Market realizes that this is one of the best companies to buy and hold for the long run.

For investors, the good news is that EPD trades at very cheap valuations. EPD shares still have a long way to go to approach historical valuations while still offering a sustainable and growing 11% yield. The appreciation potential for EPD is very rare for an income type investment. When one also considers that EPD traditionally grows at a decent pace, these shares could offer a retiree that unusual combination of appreciation and growing generous distributions for the foreseeable future.

Long-Term Debt

This company has felt the pressure to lower debt levels as have many competitors

With the metal hitting a record $2,075 a troy ounce in August, the concern we’re heading toward peak gold has reared its head again. The industry needs to commission 8 million ounces of projects by 2025 to maintain last year’s production levels, consultants Wood Mackenzie wrote in June, requiring some $37 billion of capital investment. Mine production fell last year for the first time in more than a decade. Even the British Broadcasting Corp. has been asking whether we’re at risk of running out.

At the core of the concern is a longstanding trend in the gold mining industry: The percentage of gold in ore reserves is falling, from more than 10 grams per ton in the late 1960s to barely more than 1 gram per ton nowadays. Those concentrations are extraordinarily low — equivalent to grinding up and separating a Statue of Liberty’s-worth of ore to recover a teaspoon of precious metal. At some point, the grade must get so poor that it becomes impossible to recover the gold economically.

The thing is, we don’t know when that will be — and all the evidence indicates that we’re still a long way from finding out.

Take Newcrest Mining Ltd.’s Cadia East mine 200 kilometers (124 miles) to the west of Sydney. The grade there is just 0.45 grams per ton — more than two Statue of Liberty’s-worth per teaspoon — and yet the mine is one of the world’s most profitable, with costs of $160 per ounce, which would deliver a margin of more than 90% at current gold prices(2).

Two factors drive that. One is economies of scale: Cadia is one of the world’s top 10 gold mines measured by output. Since the dawn of the mining industry, grades of almost every mineral have been falling because, by