1H'24 Position Review / Newsletter Update
1H'24 Position Review / Newsletter Update
Performance Review and Position Updates (August 2024)
🚨 Connect with me on Twitter / Instagram / Threads | Estimated Read Time: 28 Minutes
💡 Got a credit long/short idea to share? I’m open to hearing your pitch and having you publish— drop me a message!
🚀 We’re expanding! Interested in part-time or internship opportunities? Get in touch!
Hi all,
The first half of this year has been an exciting period of growth, and I wanted to share some updates. As I’ve done in the past, I’m also providing a quarterly review of the companies I’ve published on since my last 1Q’24 update (see below).
First, big news: I’ve added a credit analyst to the team. This addition will allow me to increase the frequency of new content, expand the coverage universe, and provide more frequent position updates. To date, I’ve published 55 unique “initiation of coverage”-style write-ups on credits or credit-oriented equities, and with our growing team, you can expect this number to increase over time. What this means is if you sign-up now, you’re guaranteed to lock-in today’s prices indefinitely for increasingly more value-add.
Second, as you may have seen earlier this week, going forward, I will be sending out weekly updates on #LevFin markets every Monday morning to ALL subscribers. These updates will provide a regular pulse on the credit markets and highlight any significant developments or opportunities I’m seeing. You can read the latest edition below.
Third, about the position updates. As you can imagine, providing prompt and comprehensive updates on 55 names (and growing) is quite challenging. Therefore, I’m limiting this quarter’s detailed update to the top 20 price movers, using some judgment when considering equity vs. debt. I’m also skipping recent write-ups as they haven’t seasoned enough to provide a meaningful update beyond the original post. In addition, certain names (e.g., Intrum, AMC) deserve their own posts so stay tuned for updates there. If there are any names not on this list that you’d like updated views on, please reach out, and I’ll provide my opinion directly. For the detail-oriented among you, I’ve included links to my original posts. Feel free to review them; transparency is key here.
Last, for those new to the newsletter, my focus remains on complex, credit-oriented situations that often lack widespread coverage. Sure, I could write about the largest, most liquid issuers, but let’s be honest—you probably already have plenty of research on those names, so what value would another write-up add? Instead, I’m focusing on these niche, small, illiquid credits. Granted, this focus may change over time, but for now, that’s where my attention lies. Let’s dive in.
Disclosure: The information provided is for informational purposes only and should not be considered as investment advice. Any investment decisions made based on the information provided are at your own risk. I may have a financial interest in the securities discussed, which could influence my views. It is essential to conduct your own research and consult a qualified financial advisor before making any investment decisions. Investing involves risks, and past performance is not indicative of future results. By using this information, you acknowledge that you are responsible for your own decisions and release me from any liability. Seek professional advice tailored to your financial situation and objectives.