Longacre's Vladimir Jelisavcic's Presentation on Dryships
A few weeks ago, we discussed the opportunity set in the shipping sector. This week at the Value Investing Congress, Vladimir (Vlad) Jelisavcic, a founder at legendary distressed debt firm Longacre, did a remarkable presentation on the situation at DryShips and Ocean Rig UDW. I've spoken to Vlad a number of times and have always come away impressed by the due diligence he brings to the table. Longacre has been in the news as of late, but nonetheless, I have no doubt that with work and ideas like this, we haven't seen the last of this strong group of talent. And here's to hoping Brecker keeps the end of year distressed parties going.
Enjoy the presentation (hat-tip to Market Folly)
1 comments:
Hi Hunter,
Not sure if you looked into this at all. At first glance 2 things jumped out to me:
1. The case laid out by Vlad seemed really compelling.
2. The corporate governance, related party transactions, and poison pill provisions brought up by others within the first 30 minutes of random searches on this company made me felt very, very uneasy about the company as an investment.
I was just wondering what your initial thoughts were on his presentation (understand if you have or plan to initiate a position that you won't be able to talk much on this). I'm pretty new at investing and am wondering if my 'gut' reaction to the negatives is justified, or if I'm just missing something.
P.S. As a relatively novice investor, love reading ideas/analysis that you or guests share on the blog. I definitely learn a lot from your site, so thanks for all your work!
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