Care Investment Trust
Thesis
I propose a long position in the common shares of Care Investment Trust as the stock is meaningfully undervalued on the basis of its assets and near-term catalysts leading to value realization are probable. The company is trading at 63% of book value and 70% of estimated NAV, with a strong balance sheet and liquidity position, and a dividend yield of 10%.
Did it work?
The long thesis for Care Investment Trust has failed as the stock has declined by 65.1% since the pitch, which contradicts the expectation of value realization and appreciation based on its assets. The significant drop in price indicates that the anticipated catalysts did not materialize, and the stock remains undervalued without any recovery in sight over the elapsed time of 203 months.
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