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Saidal

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Posts posted by Saidal

  1. If you invest in equity stubs, then you must read the credit agreements and fully understand the Company's covenant position, cushions and ancillary items (equity cures, sweeps,etc). A company can spew FCF, however if their going to breach a covenant, and the lender group isn't full of commercial banks, you'll have a rough situation.

  2. The best part of it for him....he just bought an asset manager with over $250MM in AUM for $1.7MM. I wish I had that kind of deal thrown at me all day long. A huge value and credit negative for BH. I'm curious to what Ragu has to say about this! ;)

  3. It's definetly a great way to build your resume for future positions on the buyside. But be warned, from my experience interviewing with a couple sellside shops, a majority of them are the furthest thing from value investors. A lot of the focus in my opinion is relatively short-term. On the  flip side, you can build some solid industry connections.  I would also look at a corporate credit/lev.fin role at a reputable shop.

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