I’ve been a lurker on this board for a long time, with a brief hiatus after Michael Burry went off to do his own thing. Under Paul’s gentle guidance, it has become a platform for civil, informative discussion. Judging from my own limited observation, this makes it unique. I would like to express my gratitude for all I’ve learned here and especially for some of the investment names I’ve picked up. I think I’ve owned Madharry’s EDVMF nearly as long as he has and it has certainly been my premier investment over the years.
Although I am maintaining most of my shorts in the financial sector – MER, ABK, BKUNA, FED, GM (GMAC), GS, WM - I think Paul’s case for CCRT is compelling. The valuation seems reasonable and the recent conference call made me believe that we can look two or three years down the road and expect to be satisfactorily compensated. I picked up a half-position on the opening today. My other long in the credit-related world is ASFI, a gleaner in the world of credit card garbage. It seems to me that they’ll soon have a lot more material to work with and ought to be able to buy it at attractive prices. |
