NAVI: Left for Dead and Under-covered. But Things Have Changed
A value trap no more hiding a growth engine with an accounting shift that helps the timing of earnings.
Disclosure: I own NAVI at 3.7% of NAV. I may buy more.
This is a borrowed idea, but not a borrowed thesis.
Borrowed idea because it sounds like a friend of a friend, Gator Capital’s Derek Pilecki, posted it as a long. I have a huge amount of respect for Derek, not just for the performance he’s posted, but for what I believe to be his mental frameworks and attitude towards investing. From what I’ve heard/read it looks like he is a good human having fun, we need more people like that.
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