focused1

My favorite tool is openinsider.com but I always check the SEC website for companies manually and read the filing documents if I really care about accuracy.

my thought on this was always the following… 1). Never go anywhere close to anything resembling insider trading or the appearance of it. 2). If you have any role with the company whatsoever and legitimately see dollar signs and opportunity ahead then consult a lawyer on valid exclusions or carve outs under the law. if you can’t afford # 2 stick to # 1.

I think hertz is an interesting idea and want to learn more. The stock is recapitalizated post bankruptcy emergence and trading at lower levels than before, but they have essentially done a levered recap via buybacks. When you look at how they run the business; you pretty much know the 2050 warrants offer leverage on leverage on leverage (leverage from inside the OpCo that is earning a spread on cars purchased with a securitization, leverage from being a levered recap at the parent level with non secured debt, and leverage from the long term warrants that have various anti dilutive protections). And the management incentives are very equity oriented so you know they are going to try to make the free cash flow to equity juiced. This seems like it could be a chapter in You can be a stock market genius Baby needs some shoes?