The Super Commodity Changes Everything

Welcome all new subscribers to Alpha Letter. Every week I write about interesting opportunities in the public market. I focus on stocks off the beaten path. Broken businesses. Assets trading under liquidation value. I don’t like investing in large, popular companies and find a fascination with assets no one else is looking at. Today’s piece will be about commodities and how the super commodity cycle has completely changed capital structures. But before we get in today’s piece, first a word from our sponsor…

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