After a break of several months from the markets its time to get back on the saddle and start searching again for those hidden gems that might become very profitable investments. One such potential gem is Apex Clearing. Apex Clearing mainly provides custody, clearing and settlement for fintech companies and (online) brokers. The business itself […]
It’s almost been a year since I started this blog and it is about time to have a discussion on performance. I took some time to think about how to address this topic appropriately. Do I only discuss the companies mentioned in previous posts? That would make sense, however I almost never mention when I […]
While the largest part of my portfolio consists of long term investments (generally cheap stocks), currently a relatively large portion comprises short(er) term trades. The size of this bucket within the portfolio varies throughout time depending on the opportunity set available. Interestingly, over the past few years these trades have mostly been related to spac […]
Some months ago Churchill Capital Corp (CCX), a spac, announced that it would be taking Skillsoft public. Back in December, I wrote why I think this deal is interesting and why I believe this might be a good entry point for someone willing to bet on the success of the new Skillsoft (subscription model + much improved […]
When it comes to analyzing potential investments, I spend a good amount of time on assessing the up- vs downside potential of a certain investment. I have no problems investing in a bad company if the pay-off seems asymmetric enough. A company might be fundamentally horrible in my opinion but if I can get it […]
Spin-offs are very well known and followed special situations. Spin-offs are segments or business units of companies that become independent businesses with assets and employees taken from the parent company. In a spin-off of a public company, shareholders of the parent company receive equivalent shares in the new company (which is part of the parent […]
Given the recent run-up in my spac-warrant book, particularly the warrants in the ESG-related theme, I have closed the LOAK, EOSE and XL warrant trades. Returns have been very strong since the write up: LOAK warrants +410%EOSE warrants +500%XL Fleet warrants: +280% These returns certainly warrant (pun-intended) a victory run! As a reminder, these have […]
Sometimes, boring is better. If you follow me on twitter you’ll know that over the past week I’ve been talking about the soon-to-be-public company Skillsoft, which recently announced a deal with Churchill Capital Corp (CCX), a spac. As this deal is not related to EV / batteries / sustainability, CCX shares basically went nowhere. I […]
My last article focused on the opportunity related to the Legacy Acquisition Corp. spac-warrants. What was supposed to be an ‘easy’ trade turned out to be a lesson in margin of safety. Legacy’s (LGC) intention at the closing of the business combination with Onyx (CarID) was to buy out all warrants outstanding for a total […]
As you probably noticed by now I tend to keep close track of spacs and spac-warrants. You might not be aware of it but 2020 is the year of the spac – there are currently more than 200 spacs listed, having raised more than three times the funds raised during 2019. It is not their […]