Last Tuesday SumZero gathered highly ranked members at Bloomberg Headquarters in Midtown, NYC for liquid refreshment and pitches from three top fund managers on liquid special situation opportunities.
Peter Lupoff of Tiburon Holdings, Daniel Lawrence of Elmrox Investment Group, and David Tawil of Maglan Capital spoke on their favorite liquid names.
- Peter Lupoff: Short Woolworths (WOW:ASE)
- David Tawil: Long Globalstar (GSAT:US)
- Daniel Lawrence: Long Ashland Chemical (ASH:US)
The Australian supermarket chain is suffering from economic headwinds from China, an unprofitable and abortive home improvement joint venture with Lowe's, and intense competition from ALDI and others.
While the core satellite phone business has been far from successful, GSAT owns an important swatch of electromagnetic spectrum useable for WiFi. However the process of opening up this spectrum and afterwards monetizing it is currently under review with the FCC. Tawil thinks there is a good chance the proceedings will end favorably for Globalstar, partially because of recent insider buying.
Mr. Lawrence has spoken on Ashland numerous times as one of the top chemical companies in the world. The company as it is today trades cheaply, and further corporate restructuring, particularly the reverse spin-off of core brand Valvoline that could unlock value for investors.
The atmosphere was intimate, and investment professionals in the audience interacted frequently with questions, comments, and critiques. After moderated discussion ended, members gathered for cocktails, networking, and further stock-focused conversation.