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To: Sun Tzu who wrote (7631)	10/15/2023 7:35:39 AM
From: sixty2nds	Read Replies (2) \| Respond to of 10713

Happy Saturday! QRTEP was a play I picked up from The Big Secret On Wall Street, a Porter & Co. publication. The original write up it was rec'd as a Buy up to $50/sh. I did not think QRTEP was in what I call Buying Position at that time. The basic thesis was the Disaster was averted, + FCF was established, and it would grow. The Debt Stack would be handled with a significant margin for error. Yesterday TBSOWS said SELL QRTEP. The reason...Higher interest rests for longer. They see National retail sales slowing. A sharp credit tightening They are in the recession camp, believe the QRTEP FCF will shrink, and NOT handle the Debt Stack. Me... I will continue to hold QRTEP and still plan to add this Q. IMO... The current Q reporting in November and the following are critical Q's. I will not blindly continue to add QRTEP in 2024. In short... I'm raising my odds of BK from 10-15% to 20-25% I will keep QRTEP on a shorter leash. Porter & Co took a 13% loss on the QRTEP AFTER counting $6/sh in 3Qs of dividends. My Cost Basis EXCLUDING $4/sh, 2Q's of dividends is roughly 25% less the theirs was. Cheers, 60