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Hi LewisBraham thankyou for the post We have been following HTZ since 4 5 yrs ago after buying their bonds. they have great fleet car [FLASH FIRE] sales if interested [even corvette, bmws, other luxury cars usually 15ks-25k miles so consider very good]... unfortunately we did held a bond in HTZ, they may not pay and suspend these coming up dividends. We are not sure if they will stay afloat in 9-12 months and may declare chapter 7 after all
This week’s Barrons also contains an interview with the co-managers of the YCG Enhanced Fund (YCGEX). One is Brian Yactman, son of legendary investor Don Yactman. An important lesson father taught son - at age 10: Never invest in “capital intensive” companies like airlines and autos. Suppose the same might be said of car rental companies. My heart goes out to all those fine people who work in the hospitality and related industries like airline and car rental. I came to know a few at the small EYW airport quite well on repeated visits to the Keys. Nice folks.
Ted was highly knowledgeable about corporate bonds, always finding some good yielding issues to buy. (But what in investing was he not highly knowledgeable about?) I think he owned Hertz bonds once, but can’t confirm that.
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We have been following HTZ since 4 5 yrs ago after buying their bonds. they have great fleet car [FLASH FIRE] sales if interested [even corvette, bmws, other luxury cars usually 15ks-25k miles so consider very good]... unfortunately we did held a bond in HTZ, they may not pay and suspend these coming up dividends. We are not sure if they will stay afloat in 9-12 months and may declare chapter 7 after all
https://ktla-com.cdn.ampproject.org/v/s/ktla.com/news/nationworld/struggling-rental-car-companies-expected-to-sell-vehicles-at-deep-discounts/amp/?amp_js_v=a3&amp_gsa=1&usqp=mq331AQFKAGwASA=#referrer=https://www.google.com&amp_tf=From %1$s&ampshare=https://ktla.com/news/nationworld/struggling-rental-car-companies-expected-to-sell-vehicles-at-deep-discounts/
hertz
and then on the results page search for [space] Ted
and you can see 2019 discussion including msf of ted's htz junk (b-, iirc)