Unicus
@UnicusResearch
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An independent short-only invst. research firm. X is Not Fin Advise. Short: https://t.co/ofRJpAEMjI Macro Credit: https://t.co/zJJixDTTDn
Ridgefield, CT
Joined March 2021
🚨 Regional banks now hold almost one-third of all U.S. commercial mortgages and a majority of non-owner-occupied CRE, and “latent distress” is about 4X larger than what current delinquency rates imply.🧵 CRE: ~ $4.8 T Consumer debt: $5.58T (auto: $1.66T, Student loan: $1.65 T)
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🔵 Dreamcash is now live! Trade digital markets 24/7 with 40x leverage. Seamlessly trade everything from Bitcoin, Ethereum, XRP and 100+ other cryptocurrency to NVIDIA, GOOGL and AAPL. Fast. Simple. Addictive. Fun.
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With all due respect to the “experts” they are incorrect. This statement is misleading and oversimplified. $KMX is losing market share to $CVNA and the management has no idea what the heck they’re doing. ABS is the catalyst for $CVNA and others. The deterioration in their
Carmax/Carvana control ~3.5% of 38M total used car sales in the U.S. every year: And no other organization come close to their numbers. Look at these charts from auto finance expert Bill Ploog that compare dollars of used vehicle retail sales and loan originations for each
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This is everything. Know what’s in your 401Ks Ask yourself this: Does KKR, Blackstone, Blackrock or any other private credit- want and know what’s best for me and my family? Think about it.
I have stressed this over and over - Know what is in your 401k - where do you think they’ll put the bad debt? Their portfolio or your’s?
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6. Individual investors are clueless as to what is Private credit investments are and these guys are shoving it down investors portfolio. We track the private credit mischiefs, bankruptcies and frauds - like First Brands and Tricolor. https://t.co/9UkY3uHPNE
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With smart policies, we can continue to expand American recycling to meet the demand for products made with recycled plastic while keeping the U.S. competitive. Find out more.
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5. Blue Owl sits at the center of the private-credit boom: its flagship lender, Blue Owl Capital Corporation (OBDC), makes mostly first-lien, floating-rate loans to large, sponsor-backed middle-market companies. https://t.co/jWQKEntQRN
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4. Approximately half of private credit’s $2 trillion in global assets, including assets of BDCs, is in direct loans to middle-market firms that typically generate $50 million to $1 billion in revenues. https://t.co/RgKDyPcIJS
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3. The BDC selloff began this summer, after falling interest rates reduced income from the loans they own. A $14 billion fund managed by KKR reported heavy losses from loans gone wrong, and a rash of alleged frauds in companies such as the auto supplier First Brands spooked
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2. BDC slump shows how the hot investment product can extract a harsh penalty from anyone who tries to get out at the wrong time, as individual investors often do. YES, read that again, slowly.
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1. Culprits: KKR and Blackrock the worst performers in the publicly traded private-credit funds called BDCs. Who's who: More than $2 trillion private-credit universe has been restricted to big investors and wealthy individuals. BUT, there is a TRAP.
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🚩BREAKING: Private credit fund managers have been shoving private assets into individual investors 401(k). Note: Similar 401(k) products have already been sold to individual investors are in sharp decline this year.🧵 Yep. First Brands is one of them.
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A great read.
Desperate times call for desperate measures it seems, and the GSEs and powers that be are getting desperate Retained MBS up by 25%? Such news sends shivers down my GFC-hardened spine Plus what Nov home sales and price results tell us about what’s next https://t.co/NvrDwThUnT
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🚨 DON JR: “PROFITS DON’T MATTER MORE THAN HEALTH” @DonaldJTrumpJr torched Big Pharma at @TPUSA’s AmFest, calling out drug companies for price gouging Americans while selling the same meds cheaper overseas. Don Trump Jr. also touted the fix for the price gouging, which is one
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this...
Desperate times call for desperate measures it seems, and the GSEs and powers that be are getting desperate Retained MBS up by 25%? Such news sends shivers down my GFC-hardened spine Plus what Nov home sales and price results tell us about what’s next https://t.co/NvrDwThUnT
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We recommended $FAT as a short to our client a while ago and wrote a cover.
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🚩BREAKING: A shareholder accuses FAT Brands of misrepresenting debt as cash to try to win fresh financing and disguise its liquidity issues. Culprits: Jefferies Financial Group and 352 Capital (private credit). 352 Capital was a private credit fund associated with significant
bloomberg.com
One of FAT Brands Inc.’s shareholders is suing the restaurant-chain owner for allegedly hiding the true extent of its debt amid a darkening financial outlook that saw its stock hit a multiyear low...
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BREAKING: New Fortress Energy, a liquefied natural gas company, missed its int. payments and is effectively in default / near-default, and creditors are giving it a temporary “standstill” so everyone can try to hammer out a restructuring. New Fortress Energy is owned by a
bloomberg.com
New Fortress Energy said Friday that it struck new forbearance agreements with holders of its term loans after failing to make interest payments and informing the lenders that it didn’t plan to make...
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A growing number of young Americans are being pushed by social media and doctors to to take hormones and undergo surgery—now they're detransitioning and sounding the alarm.
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