There’s a lot of opportunity out there right now. That’s shouldn’t come as a crazy surprise. Markets are down ~25% over the past six months (and, honestly, it feels a lot more brutal than that!), and it feels like everyone is bear-ish and prepping for a crash (count me out of that camp! I’m very bullish). With a drawdown that heavy generally comes a decent bit of opportunity.
I've seen so many offers hanging out there like low fruit, but with equities selling off so much and interest rates rising, that it begs the question: will it get to the point where the PE firms are credit crunched and won't be able to raise debt for these deals? TWTR being an outlier, I'm thinking about TROX, LAZY, BALY (TO), SRT, to name a few. In other words, at what point do the PE firms back off, let the stocks get hammered and buy in at even lower prices?
Andrew, it is so welcome to read a bull as we head through such bumpy times, and it is also great to hear that CdM will be creating a little Rangeley Capital Podcast magic with you! I made the mistake of $ cost averaging into ATUS, GOED, PL, and the like, and my only way to take advantage of new opportunities is to realize a loss. Ah well, now I learned about cash management :)
have you looked at hmtv as a risk arb?
I've seen so many offers hanging out there like low fruit, but with equities selling off so much and interest rates rising, that it begs the question: will it get to the point where the PE firms are credit crunched and won't be able to raise debt for these deals? TWTR being an outlier, I'm thinking about TROX, LAZY, BALY (TO), SRT, to name a few. In other words, at what point do the PE firms back off, let the stocks get hammered and buy in at even lower prices?
Andrew, it is so welcome to read a bull as we head through such bumpy times, and it is also great to hear that CdM will be creating a little Rangeley Capital Podcast magic with you! I made the mistake of $ cost averaging into ATUS, GOED, PL, and the like, and my only way to take advantage of new opportunities is to realize a loss. Ah well, now I learned about cash management :)