J Mintzmyer
Global shipping and trade, Deep Value, short ideas, portfolio strategy

Scorpio Tankers: Generational Opportunity On Faulty Oil Correlation

Overview Over the past year, I've closely watched this company execute its growth strategy to near perfection, turning in quarter after quarter of record profit and easily exceeding the expectations of early investors and current analysts. Despite this gangbusters performance, a fairly generous dividend, a sharp management team, and an aggressive repurchase program, the common stock has struggled to perform. This disconnect has led to an opportunity to acquire shares at near-record lows, at a sharp discount to real-time book values, after already witnessing the proof of enormous earnings capacity. This report is focused on Scorpio Tankers (NYSE:STNG), a pure play on the product tanker segment, which has seen its stock price plummet 45% over the past 6 ...
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