Research Intensive Investing

Jarden Remains a Compelling Short

Thanks for the nice write-up, Amit. I'd taken a look at this at some point as a short and passed, but it definitely does seem like a catalyst is potentially in sight with an oncoming consumer slowdown and tighter debt markets. The negative tangible book value also makes this a potential zero, which is always a great thing in a short.

Have you taken a look at all at the debt schedule? Will they be forced to refinance some debt at higher rates anytime soon? Have you done any stress testing to see at what EBIDTA levels they begin to run into significantly trouble covering interest payments?

Thanks,
Eric