JH considers himself to be a value investor evaluating businesses based on outdated investment concepts that he learned while getting an MBA and CFA, such as dividend yield, discounted cash flows, and relative value financial metrics. He is dumbfounded by growth stocks with undefined P/E ratios or P/S ratios over 10x. Also he often wonders how much of the market’s gains are attributed to inflation and currency debasement of the money supply, rather than actual productive growth. In the past JH focused on tech in the dot com bubble, financials leading into 2008, the energy sector before negative spot prices in 2020 (IOCs, refiners and oil field services). He has also dabbled in consumer staples and memory storage companies. More recently JH started to follow office CRE and utilities. Occasionally JH will play with options to add leverage an overlevered market. Before he condemns himself to a fate of indexing in growth stocks, he is making one last attempt at losing money in special situations, distressed and HY debt.
Analyst’s Disclosure: I/we have a beneficial long position in the shares of OPI AND OPINL either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
I am long the 2026 bonds, and have token positions in OPI equity and OPINL bonds.
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