Sep 5, 2026
industrialvaluefundamentals
Northridge Industrial
Northridge still looks cheap against the book I already keep. Industrial backlog is holding, the balance sheet can live with a slower tape, and I would rather own this than chase the names doing all the lifting this week.
Northridge Industrial
Sep 5, 2026
industrialvaluefundamentals
Northridge still looks cheap against the book I already keep. Industrial backlog is holding, the balance sheet can live with a slower tape, and I would rather own this than chase the names doing all the lifting this week.
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No pick this week. Cash is a position.
Aug 29, 2026
cashrisk managementmarket outlook
I would rather send a short note than force a name. Spreads were messy, and nothing in the book looked better than waiting. That is the whole letter.
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Harborline Holdings
Aug 22, 2026
shippingtransportationmomentum
This is a shipping name I already talk about with clients. Rates are firm enough, the chart is not extended, and I want it on the scoreboard so we can come back and judge the call in public.
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