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To: Sun Tzu who wrote (7620)	10/3/2023 4:06:47 PM
From: Sean Collett	Read Replies (2) \| Respond to of 10713

I shared my take on the value investing side here but I do not see the QRTEP as the best use of money if you're bullish on Qurate at all. I have my value analysis there in the recent posts too. From one of those posts I made this morning: << If you are bullish on their turnaround and do see them as a value play then the common seems to be the better buy right now. If I took $1,000.00 I only get 44 shares of QRTEP at a current price of $22.90/s, but with QRTEA I get 1,818 shares at a current price of $0.55/s. Complete hypothetical, but let's say the positive impacts from Project Athens begin to be felt and the fear of bankruptcy subsides and investors return. If I held QRTEP to collect all dividend payments and the stock, again hypothetical here, returned to its 52-week high of $53.96 ($61.96 would be price with dividend payments included), this turns a $1,000 investment into $2,705.54 for a profit of $1,705.54. If QRTEA returned to its 52-week high of $2.84/s, then this turns the $1,000.00 investment into $5,170.00 for a profit of $4,170.00. Both have same assumed risk of bankruptcy but given how beaten down the common is the potential for return is greater even with the dividend that QRTEP is paying.>> Just some thought on them if you are adding them to the watch list. -Sean

To: Sun Tzu who wrote (7620)	10/4/2023 10:17:21 AM
From: sixty2nds	1 Recommendation Recommended By Sun Tzu Respond to of 10713

Happy Hump Day to all All comments appreciated. I have, and will again be, wrong at Scale. QRTEP is in a very small part of the Total Portfolio. IF This portion of the Total Portfolio went to ZERO it changes nothing. IF I get Lucky and make a run it will provide a slight enhancement. QRTEP is not a short or medium time frame trade for me.. I plan to hold until March 2031 when the Preferred Stock is mandated to be redeemed at $100/sh. My best guess... The FCF burned by he now sold off Zulilly division was larger than commonly estimated.... Zulilly was "sold" in May for future considerations. There was $80,000,000 in Zulilly debt paid off. Zulilly is 100% off the books. There was a hint at that FCF burn in the last Q reported August 4th. We will have more info when the current Q reports. I remain committed to DRIP and buying QRTEP this 4th calendar Q. Based on the upcoming Q report I will decide to The Boat is loaded at 2X or proceed to 3X. I will most likely evaluate on a Q X Q basis. I do not need to proceed directly to 3X. If I have a "better" opportunity I might stop at 2X or 2.25X From my perspective... The Common needs a successful QURATE turnaround. By that I mean a return to profitable growth. THAT will push the common price to $3 and above where I think the common is buyable again. THAT will take at least 4 more Q's, probably 8. The Preferred just needs the business to muddle through. Cheers, 60