AKL Capital Management LLC
Long/short equity, value

BOK Financial: A Valuation Fantasy


BOK Financial (NASDAQ:BOKF) is a US-based financial services holding company that operates predominately in the West South Central States with a long history of lending to the energy sector. In this current boom-bust cycle, it is our opinion that they have become way too exposed to the sector and are vulnerable to the default cycle already underway. As a long/short investor in the energy sector, we went looking for the other side of the debt on energy producers books when it became apparent to us that even senior secured debt will not be spared. At BOKF's current valuation, we feel it represents an attractive short position with a risk reward heavily weighted to the downside because of

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details