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 Nov 14, 2019
Thursday Nov 14, 2019
Ted Young, CFO of Dorian LPG (LPG) joined us live this morning (1 November 2019) to discuss the LPG shipping markets and specific company prospects and capital allocation potentials. This interview and discussion is relevant for anyone with LPG sector investments including Avance Gas (OTCPK:AVACF), BWLPG (OTCPK:BWLLF), and Navigator Holdings (NVGS). Topics covered 1:00 minute mark - Overall VLGC market review 4:00 - Does the arbitrage curve and forward cycle still look strong? 7:40 - What sort of risks should investors look for? 10:40 - Leverage is away down, what are your targets now? 12:50 - Capital allocation priorities for Dorian? Enough cash reserved? 14:40 - Priority for dividends, repurchases, financing deals 20:00 - Repurchases low thus far? Any reason for this? 23:30 - Possibility for a buyback deal with BW Group? Any covenants? 26:40 - Scrubber update on timing? Delay with shipyard? 28:30 - Discussion on scrubber fuel spreads? Savings per day? 34:00 - LPG retrofit potential? Any expenses in 2021? 37:50 - Reviewing utilization numbers - expectations for Q4/Q1? 39:40 - Update on the 4x charters coming off Q4-19?
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