Macquarie Infrastructure: Decent Risk/Reward Even After Outrageous Payments To Manager

|
About: Macquarie Infrastructure Corporation (MIC)
by: CashFlow Hunter
This article is exclusive for subscribers.
CashFlow Hunter
Long/short equity, special situations, debt, Deep Value
Summary

Company announced they are exploring strategic alternatives that may include a sale of the entire company.

Stock has never recovered from 2018's shock horrendous performance.

External manager has virtually no chance of ever collecting incentive fee again.

OK risk/reward even after external manager gets paid ludicrous fees for doing a terrible job.

Summary

For those of you who aren't familiar with Macquarie Infrastructure (MIC), it is an externally managed collection of three businesses that have virtually zero synergies and no reason to be under the