February 17, 2016
Published by Kuppy at February 17, 2016
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Until early this summer, certain promoters seemed to believe that they could do a magic trick that no one would catch. A larger entity would “drop down” an asset at twice what it cost to purchase or build, add a bit more leverage and call it a “yield vehicle” that would then be sold to retail investors. Adding hubris to this whole charade of Read More
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February 14, 2016
Published by Kuppy at February 14, 2016
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A few years back, I was at dinner with a British ship-owner who had just sold part of his fleet for almost $250 million (which was about $200 million more than he had paid for the ships only a few years earlier). He couldn’t stop laughing. Sure, they threw off about $50 million in cash (20% yield for the buyers) based on this year’s Read More
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November 11, 2015
Published by Kuppy at November 11, 2015
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My Buddy Tal, publisher of Beijing Perspective (http://www.beijingperspective.com) sent me the following last week. It’s both prescient and obvious advice. I felt the need to share as I agree completely. If you want more of his notes, I recommend signing up at his site. Kuppy November 7, 2015 Two cents on interest rates Cent #1) “Anyone familiar with asset markets know that it is Read More
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November 8, 2015
Published by Kuppy at November 8, 2015
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It has now been three weeks since CitronResearch.com accused Valeant (VRX: NYSE) of being Pharmron (Pharma + Enron). Ever since then, I’ve read a bunch of articles and tried to find an actionable angle. When there are rumors, innuendo and allegations of fraud, there’s a potential for opportunity. However, the deeper I dug; something increasingly struck me as rather odd about Valeant. At its Read More
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A Crisis In Ponzi-Land (The “Drop-Down”)