Frustratingly changed my mind on Emergent Capital. original post here.
I’m concerned about debt level / lack of liquidity and the fact the company has 9 months (approx) opex on hand. I wasnt right about my initial belief red falcon had liquidity available – I’d misread the statement.
There is an opportunity with the strategic alternatives process for this to do very well but re-reading this – the possibilities are not all are positive. It has also now been over 3 months – should have been done.
Continue reading “Closed Emergent Capital – 12% loss”
Just bought some Emergent Capital at $2.90 a share (yet another truly awful fill) -7.4% portfolio weight EDIT 8/11/2016 *Cut to 3.7%*. This, in essence is a portfolio of life insurance policies. It is trading at a market cap of about $76m. The NAV is $220m so there is the potential for a near tripling in value.
This has been written up on Seeking Alpha and in the Value Investor’s club. I havent read the Seeking Alpha one (no subscription).
The key facts are:
Continue reading “New position Emergent Capital EMG 100%-150% upside”