It would be interesting to start a list of interesting investment prospects (NOT trades) for discussion - and track them over time. Of course said thread would need to be resuscitated often but "C'est la vie!"
I have started taking these too. The "moat" seems less important in light of the sheer number of specialised subsidiaries. It is not going to pick up competition from "big" companies; by the same token - very small players won't have the clout to compete.
Crazy deal. AND Conduit lost the plot and went off and bought FGL at the top, back this deal specifically. CONDUIT also bought a whack of EQS which has collapsed. Yeah, yeah... I know I punted CND but it was below a R1 at that point - I dumped them at R3 and have no intention of going back. I think Kohanowitz has gone power mad - you know: "size at any cost."
GND - the BALTIC DRY INDEX has risen steadily off the bottom - added 200% since bottoming. She earns USD, has an effective port concession, a Commercial Shipper (banker) onboard and her assets are housed in non RSA companies. Can't say I'm mad about shipping but it looks cheap.
Took a big loss on TRE. I don't like their business model. To easy to copy. With yields being this low - everyone must be trying the old "syndicate a container" business. They are no longer the biggest player in the space by a long way. They have R50 Billion DEBT at this point, I think. If interest rates turn upwards in the states... Add t this the woes which are forcing some of their clients to go belly-up - most notably giant Hanjin who's operations have been suspended.