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Seeking investments without using the ridiculous style-box approach. If I can make a return in excess of what I judge the risk to be, I'll invest. Over time, using a Kelly formula, I tend to weight positions from 2-10%. A diversified portfolio is a career-saving move, not an investment... More
  • Deal Professor On The Apax Role In The RUE Buyout. 0 comments
    Oct 2, 2013 4:30 PM | about stocks: RUE

    NYT DealProf opines on the Apax role on both sides of the table.

    One of the best lines: "If Apax does scuttle the deal, it may be on the hook for a termination fee of nearly $63 million, meaning that the loss has to be pretty severe for Apax to even think about leaving the deal.

    Meanwhile, if the deal collapses, rue21's share price is likely to plummet, leaving the old funds with a loss of possibly more than $100 million."

    Also this: "Recent reports from LCD News say that the loan has been booked in the low area of 80 cents on the dollar and is pricing to close next week. If true, then this is a positive sign for the deal, assuming that solvency certificate comes through."

    Disclosure: I am long RUE.

    Additional disclosure: I may sell at any time, buy at any time based on news or price action.

    Stocks: RUE
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