April 2023

Aaron Edelheit, founder of Mindset Capital, explains why he’s bullish on consumer finance, telecommunications, and educational loan servicing firm Nelnet (NNI) (from Mindset Value on March 9)…

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“It’s no secret that Nelnet is complex as we continue to diversify. Our financials reflect short-term “book” gains and losses, and we think and operate using a long-term horizon. Because of this strategy, many areas of value do not appear on today’s financials—but we are confident they will down the road as we continue to

Harris “Kuppy” Kupperman – chief investment officer of Praetorian Capital and founder of Kuppy’s Event-Driven Monitor – shared his bullish thesis on small-cap oil exploration and production company Journey Energy (JOY.TO/JRNGF) on the Value Hive podcast (from Kuppy via Twitter on March 24)…

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You can access the podcast directly right here. The Journey Energy discussion begins around the 28:30 minute mark.

Nine under-the-radar investment opportunities in “litigation finance, defaulted debt, and expropriation claims (from Undervalued-Shares.com on April 14)…

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Cuban creditors recently achieved a partial win in a court case in London, when a judge confirmed that defaulted debt issued in the 1980s in deutschmarks had to be repaid. Then came Burford Capital’s high-profile win over Argentina, which will unlock billions in decade-old claims from an expropriation case involving American investors. Progress in cases

Recent research suggests the past four decades of equity-like returns in bonds were an historical exception that’s unlikely to continue (from the Financial Times on February 25)…

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Last year was the worst for bond markets in more than a century and marked the end  of a four-decade long “golden age” for the asset class which is unlikely to be repeated, according to a trio of academics. Global bonds lost 31 per cent in 2022, the worst annual performance for fixed income in

U.S. Treasury market volatility was unprecedented in March (from the Financial Times on March 30)…

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As the screams of agony from macro hedge funds and CTAs have indicated, this month has been, well, mental for the Treasury market. It’s incredible what a small sudden banking crisis can do isn’t it? First, some back-story: A weird anomaly about the US bond market is that Treasuries — arguably the single most important

Most analysts believe this demand for 1-month T-Bills is due to the impending debt-ceiling “showdown” in Washington, D.C. (from Barron’s on April 21)…

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Federal tax receipts due April 18 have come in weaker than expected, which could result in the government running out of money before the middle of June unless Congress raises the debt ceiling. That has prompted strong demand for one-month T bills, which mature before the potential default. The T-bill due on May 23 fell