I focus on thematic investing, crisis investing, systematic options trading through both premium selling and long-vol positions, and discretionary global macro. I have experience with private M&A along with many years of publicly-traded equities and equity-based derivatives trading experience.Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and i ...

FS KKR Capital Corp ( FSK ) is down 33% YTD from $21.72 to $14.51 and now has a listed forward yield of around 20% with a deep discount to NAV. For this reason, it's on many investors' radars.I focus on thematic investing, crisis investing, systematic options trading through both premium selling and long-vol positions, and discretionary global macro. I have experience with private M&A along with many years of publicly-traded equities and equity-based derivatives trading experience.Analyst’s Disclosure:I/we ...

Core Viewpoint - Various Business Development Companies (BDCs) have faced drawdowns recently due to concerns about a potential private credit bubble, indicating a cautious sentiment in the market [1]. Group 1: Market Sentiment - The sentiment regarding BDCs reflects a broader concern about the stability of private credit markets, suggesting that investors are wary of overvaluation and potential risks in this sector [1]. Group 2: Investment Focus - The focus on thematic investing, crisis investing, and systematic options trading highlights a strategic approach to navigating market volatility and identifying opportunities [1]. - The experience in private M&A and publicly-traded equities indicates a comprehensive understanding of market dynamics and investment strategies [1].

Core Insights - Carvana (CVNA) has experienced a dramatic increase of over 12,000% from its lows in December 2022, rising from $3.56 to $450, indicating a significant turnaround from near bankruptcy to inclusion in the S&P 500 [1] Group 1: Company Performance - The remarkable rise in Carvana's stock price highlights its recovery and potential for future growth [1] Group 2: Investment Focus - The analysis emphasizes thematic investing, crisis investing, and systematic options trading, showcasing a diverse approach to investment strategies [1]

Arbor Realty Trust ( ABR ) is going for 0.74x book with a forward yield of 13.45%, so it shows up on many screeners as a value play. But I remain sceptical due to the current macroI focus on thematic investing, crisis investing, systematic options trading through both premium selling and long-vol positions, and discretionary global macro. I have experience with private M&A along with many years of publicly-traded equities and equity-based derivatives trading experience.Analyst’s Disclosure:I/we have no stoc ...

Core Viewpoint - Arbor Realty Trust (ABR) is currently trading at 0.74 times its book value with a forward yield of 13.45%, indicating it is perceived as a value investment opportunity. However, there is skepticism regarding its attractiveness due to the prevailing macroeconomic conditions [1]. Group 1 - Arbor Realty Trust (ABR) is highlighted as a value play based on its low book value multiple and high forward yield [1]. - The investment strategy discussed includes thematic investing, crisis investing, and systematic options trading, indicating a diverse approach to market conditions [1]. - The analyst has extensive experience in private M&A and trading publicly-traded equities and equity-based derivatives, suggesting a strong background in financial analysis [1].

Group 1 - Carnival (CUK, CCL, OCTPK: CUKPF) is being considered for investment due to its lower valuation multiples compared to peers, particularly Royal Caribbean (RCL) [1] - The company has a low price-to-earnings (P/E) ratio, indicating potential undervaluation in the market [1] Group 2 - The analysis focuses on thematic investing, crisis investing, systematic options trading, and discretionary global macro strategies [1] - The analyst has extensive experience in private mergers and acquisitions, as well as trading publicly-traded equities and equity-based derivatives [1]

Company Overview - Dynex Capital, Inc. (DX) primarily invests in agency mortgage-backed securities (MBS) focusing exclusively on the secondary market rather than originations [1] Investment Focus - The company invests in agency MBS issued by Fannie Mae, Freddie Mac, and Ginnie Mae [1]

Company Overview - Dynex Capital, Inc. (DX) primarily invests in agency mortgage-backed securities (MBS) [1] - The company focuses exclusively on the secondary market rather than originations [1] - Agency MBS is issued by Fannie Mae, Freddie Mac, and Ginnie Mae [1] Investment Strategy - The company emphasizes thematic investing, crisis investing, and systematic options trading through both premium selling and long-vol positions [1] - It also has experience with private M&A and publicly-traded equities along with equity-based derivatives trading [1]

Group 1 - Prospect Capital (PSEC) has gained attention as one of the Business Development Companies (BDCs) that provided loans to First Brands, amidst concerns of a potential private credit bubble [1] - The focus of the analysis includes thematic investing, crisis investing, systematic options trading, and discretionary global macro strategies, highlighting the diverse investment approaches [1] Group 2 - The article does not provide any specific financial data or performance metrics related to Prospect Capital or the broader industry [2][3]