Introduction Liberty Global (LBTYA) is the largest telecom company outside the US. It has operations primarily in the UK & Ireland, Belgium, the Netherlands, Switzerland, Poland and Slovakia. LBTYA is a holding company and most of its debt lies at the subsidiary level and is non-recourse to the parent or other subsidiaries. This is critical …
Introduction Over the last few years Intel has faced setback after setback in their R&D, causing them to fall behind their competitors. TSMC is now manufacturing at the 5nm node while Intel has just released their 10nm chips. This technological disadvantage has caused them to lose market share, as fabless chipmakers like AMD and even …
Introduction BHF is one of the largest providers of annuities and life insurance in the US, with $150.2 billion of annuity assets under management (“AUM”) and $568.1 billion of life insurance face amount in-force. Spun off from Metlife in 2017, the stock has been very much unloved, falling steadily from its debut at ~$60 to …
Introduction Prior to the financial crisis, C was the largest financial services company in the world and at one point, the 4th largest company in the world by market cap. By 2008, C was insolvent due to massive losses and asset impairments, but they were bailed out by the U.S. government. C has been on …
