to follow
JH considers himself a value investor who evaluates businesses based on outdated investment concepts he learned while earning his MBA and CFA, such as dividend yield, discounted cash flow, and relative value financial metrics. He is dumbfounded by growth stocks with undefined P/E ratios or P/S multiples greater than 10x. He also often wonders how much of market gains are due to inflation and a decline in the money supply rather than actual output growth. In the past, JH has focused on technology during the dot-com bubble, financials leading up to 2008, and the energy sector (IOCs, refiners, oilfield services) before spot prices turned negative in 2020. He has also dabbled in consumer staples and memory storage companies. Recently, JH started following Office CRE and Utilities. Occasionally, JH uses options to add leverage to an overleveraged market. Before condemning himself to the fate of indexing growth stocks, he is making one last attempt to incur losses in the special situation of distressed and HY debt.
Analyst Disclosure: I or the Company have favorable long positions in the stock of OPI and OPINL through stock ownership, options, or other derivatives. This article was written by me and expresses my own opinions. I have not received any compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
I am long 2026 bonds and have token positions in OPI stock and OPINL bonds.
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