The Razor’s Edge is an investing podcast that combines a prop trader’s viewpoint and deep-dive fundamental research to provide a unique take on the markets. The show is co-hosted by Akram’s Razor, a trader, tech enthusiast, meat lover, Marvel fanboy, battle tested activist short-seller and humble market servant, and by Daniel Shvartsman, VP of Content at Investing.com and someone who has seen thousands of investing pitches and ideas and how they play out over the past decade. The duo start with a theme or idea from Akram’s investing, then break it down to understand what goes into the idea, what could go wrong, and what else investors and traders need to know. They also interview industry leaders, executives, and other investors to get a wider perspective. The show has thousands of listeners around the world.
Episodes
Thursday Oct 31, 2019
Thursday Oct 31, 2019
Hamish Norton, President of Star Bulk Carriers (SBLK), along with Simos Spyrou and Christos Begleris, Co-CFOs, and Constantinos Simantiras, Head of Market Research joined Value Investor's Edge Live on October 1 2019 to discuss the dry bulk shipping markets and disruptions ahead of pending IMO 2020 regulations. We reviewed their sizable scrubber program and expectations for slow steaming into 2020 along with capital allocation priorities as results turn strongly profitable. This conversation is relevant for anyone long dry bulk shipping names including Diana Shipping (DSX), Eagle Bulk (EGLE), Genco Shipping (GNK), Golden Ocean (GOGL), Navios Maritime Partners (NMM), Safe Bulkers (SB), Scorpio Bulkers (SALT), or Seanergy Maritime (SHIP). Topics covered: 0:30 minute mark - Start of discussion / How is the overall dry bulk market developing? 4:15 - How is IMO 2020 developing so far? Any distortions in the markets? 5:15 - Have there been any delays to SBLK's scrubber installations? 8:20 - Where is your fleet positioned, Atlantic vs. Pacific? Rate differences? 10:20 - What is the impact of the US-China trade war? Meaningful impact? 13:45 - Are Chinese environmental initiatives impacting the markets? 16:00 - What is causing the recent Capesize rate decline? 18:20 - Can we expect dividends soon? End of year? 21:30 - Potential for more fleet acquisitions? Criteria? 22:45 - Impact of scrubbers on future earnings potential? 26:30 - Is there any charter activity for scrubber-equipped vessels? 30:30 - Star Bulk still trades at a huge discount to NAV, any plans to fix? 33:00 - Repurchases v. Dividends Discussion.
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