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Cohen & Steers Quality Income R Message Board

mss256 2 posts  |  Last Activity: Jul 16, 2014 12:55 PM Member since: Oct 4, 1999
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    Interesting article about OAK on Motley Fool

    by mss256 Jul 15, 2014 8:36 PM
    mss256 mss256 Jul 16, 2014 12:55 PM Flag

    Not schooled enough in these matters. Common sense tells me that rising interest rates will reduce the NAVs of current investments, even thought the interest and returns are more or less locked by the covenants. Cash flow will remain safe. On the other hand, rising rates will also create more distressed debt, paying higher interest, and they have a lot of guns in their arsenal to go after it. I'll leave it to management to figure out how to play it; I'm just confident they'll play it well.

  • Forgive me if anyone else has pointed this out already. It's from late June called WhyI'm Buying More Oaktree Capital. Author's thesis is basically that Oaktree's business is cyclical. Lots of M&A activity ultimately leads to distressed debt that's Oaktree's business. Right now we're in a lots of M&A stage of the cycle, so shares are down, but Oaktree, especially coming off the secondary, is well capitalized to take advantage of opportunities as soon as they arise.

    Not pumping the stock, but it's probably worth a read if you're thinking of buying or selling shares at this time. Good luck to all.

    Sentiment: Buy

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