Pacific Gas and Electric Company
PCG
position
long
Ray Kennedy, Hotchkis & Wiley
Thesis
Ray Kennedy mentions that PG&E bonds, especially post-bankruptcy, are attractive as they are undervalued. He believes that the company's issues are tied to specific risks rather than broader macroeconomic challenges, making their bonds a compelling investment.
Did it work?
inconclusive
confidence: low
Without specific price performance data or a defined time frame since the pitch, it's difficult to assess whether the thesis regarding PG&E bonds being undervalued has played out. The lack of information on bond performance or any significant events related to PG&E's situation leaves the outcome uncertain.
Raw excerpt
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