Shares of America’s largest insurer soared in August after a strong earnings report, Warren Buffett bought into one Big Secret portfolio company, and a beverage company continues to show promise despite months of struggling to increase sales.
This report highlights the opportunity to invest alongside the world’s most sophisticated investors at a significant discount to the prices they paid – while the company we feature is not yet a household name.
The Wall Street Journal has reported today that Verizon is in advanced talks to buy Frontier Communications (Nasdaq: FYBR) in an all-cash transaction. As a reminder, in a change of control Frontier must pay $1,010 for our 5.875% bonds maturing November 1, 2029. The bonds rose over $80 on the news and are currently trading
Within the junk heap of distressed debt are bonds of companies that turn themselves around and get out of distress. Those bonds re-enter the non-distressed ranks, rewarding holders with big price gains on top of the super-high yields earned along the way.
The share prices of the four businesses we review in this issue got whacked by the overall slowdown in the economy – but except for one that we recommend selling, the long-term outlook for them remains bullish.
This monthly update explains why stocks in the Activist Investor portfolio tend not to follow the wild gyrations of market volatility, while also providing a look at most of the recommendations in the portfolio.
We recommend selling the iHeart Media (Nasdaq: IHRT) 6.375% bonds because of concerns about the poor performance of the company’s radio stations. iHeart reported operating results for the quarter ending June 30 that were in line with the company’s lowered expectations. Revenue was $929 million, up 1% in the same quarter last year. Operating profit
We are recommending selling shares of electrical-infrastructure equipment maker Atkore (NYSE: ATKR). The company reported disappointing results for its fiscal Q3 earnings period (ending June 30). We’ll provide an in-depth review of the results in the upcoming portfolio update on August 16. For now, the key takeaway is that the company has suffered from a
The economy has reached a critical inflection point, with widespread consumer distress and a stalling labor market signaling an imminent recession. We’re bracing for a bear market, and providing an update on some of the recommendations in The Big Secret portfolio.
When the King of Bankruptcy Wilbur Ross and Donald Trump negotiated the terms of a distressed-bond settlement, Ross’ knowledge of the casino operator’s ability to pay helped him win the deal.