Value Investor @Penderfund - Patiently waiting for the fat-pitch.
Vancouver, British Columbia
Joined November 2013
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Amar Pandya retweeted
Is the private equity model of running companies materially different from public companies? Can we see that difference in the financials? We built a database of 993 deals that had public debt and public financials to answer this question.
Amar Pandya retweeted
Only 13% of chess players are tricky enough to solve this puzzle 🥷
White to mate in 1! 🤔
Amar Pandya retweeted
How this #portfolio manager is using #mergerarbitrage to #invest in more than 100 deals a year. “Historically it has exhibited a positive correlation with #interestrates; returns increase as rates increase,” says @AmarPandya @Penderfund @brendabouw reports theglobeandmail.com/investin…
Amar Pandya retweeted
Booming M&A & #SPAC bargains fuelling profitable, low-risk #arbitrage plays. “Balance sheets are stronger … trillions in #privateequity firms being deployed in M&A #deals” says @AmarPandya @Penderfund tgam.ca/3wPO1w7 @TravisDowle @MaxamCap @JulianKlymochko @AccelerateFT
Amar Pandya retweeted
I join @mpacella, @amarpandya & @penderFelix for our final #podcast for 2021. We look back at a year of exits with 11 public and 6 private liquidity events & maybe reveal some of our secret sauce! bit.ly/3lSdTkx
M&A is red hot with 2021 a record year for deal activity. The M&A outlook is bright with arb spreads at historically wide levels. The inaugural commentary for the Pender Alternative Arbitrage Fund discusses where we're seeing opportunities in this market. nitter.gq/Penderfund/status/1457…
Some amazing visuals from SpaceX’s Inspiration4 mission. A historic all-civilian and privately funded space flight. An exciting time for space exploration and an exciting new investment frontier. usatoday.com/story/news/nati…
It’s been an exciting summer for the space industry. Here’s part 2 of my series on The Commercialization of Space.
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Amar Pandya retweeted
Join us this week for panels on #ESG, #privateequity, #digitization and #inflation. Join @AmarPandya , leading M&A lawyer Cam Belsher & I on 9 June, & Sharon Wang, Geoff Scott & I on #small cap #tech investing on 10 June
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Great summary of Druckenmiller’s recent thoughts on the markets, valuations, inflation and position sizing.
“Diversification may preserve wealth, but concentration builds wealth.” - Warren Buffett
$VMEO is spin-off #11 from “digital golden goose” $IAC. Net of their stake in $ANGI and $MGM, $IAC stub is bargain. Balance sheet is cashed up and ready to find the next opportunity. #Rinseandrepeat
Amar Pandya retweeted
Someone correct me on my math here.
Nintendo’s Market Cap: $66B
Nintendo’s Net Cash Position: $18B
Nintendo’s TTM Free Cash Flow: $5.57B, up 79% YoY
Current EV/FCF = 8.6x
Guidance was ridiculously conservative like always.
What am I missing here?
Amar Pandya retweeted
Beware megacaps.
The curse of size is real.
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With the SPAC boom bust. There's a goldmine of arb and event-driven opportunities. Interesting that many of the top performing SPACs are consumer businesses. There's limited EV & tech targets left, but we could see more sponsors focusing on other industries.
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$NOC is the only provider of satellite extension services. Developing refuel, repair and debris removal services in the near future. Extending a satellite's lifespan by 33%-100% has massive implications for space infrastructure sustainability and costs.
space.com/northrop-grumman-m…
$ANGI is fully focused on their fixed price strategy which is key to establishing their flywheel. A difficult market to tackle, but they’ll have a strong moat with a massive TAM if successful. $IAC
Why I think $ANGI could be a $70bn+ company in 10 years (vs. ~$7.5bn today). Long thread below 👇
In short, it's fixed price, fixed price, fixed price.
Amar Pandya retweeted
1/ Colliers International, $CIGI.TO $CIGI is a global leader in CRE services whos valuation does not accurately reflect its high-margin, recurring revenue growth opportunities. People associate Colliers with the low-margin, cyclical sales & lease brokerage w/ lots of competition.
