Takeaway Tuesday #7

A couple weeks I noted how bad sentiment was...this was posted by @jasongoepfert "Last week, retail traders bought $19.9 billion worth of puts to open. They bought only $6.5 billion in calls to open. This is the first time in history that puts were 3x calls."

My prediction: We are going to have a bad recession, and the market will start discounting that 6-9 months in advance just like every time in the future. Multiples still generally high, rates are going higher (market has never bottom when rates were rising), and the credit market is awful. Reorg usage is up dramatically versus last year and everyone is gearing up for a big restructuring cycle in 2023. No one can catch the bottom though...

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Something I Bet You Didn't Know You Could Do On Reorg

Our Docket / PACER technology is still one of the most used features on the site with thousands of users getting alerted to docket updates in real time. We applied a data science model to our millions of dockets to parse them down into what the actual dockets point to. So for instance if you were looking for backstop motions you can do that:

What's great is that you can then filter by Judge, districts, industry, time, law firm etc. Its incredible. And lots of associates are using it to help with docket research, writing motions, getting comps etc.



hunter [at] distressed-debt-investing [dot] com

About Me

I have spent the majority of my career as a value investor. For the past 8 years, I have worked on the buy side as a distressed debt and high yield investor.