Evangelos Chatzis, CFO of Danaos Corp. (DAC), a major containership lessor, joined J Mintzmyer's Value Investor's Edge Liveon Nov. 12, 2020, to discuss the containership markets and forward free cash flow potential.
Danaos was a top pick at the time at Value Investor's Edge and traded at a more than 50% discount to net asset value even as underlying market conditions were surging. We had allocated shares to this position at $5.05 in early-September, making DAC a potential 6-bagger as of the 2nd week of January (6x in 4 months). Admittedly DAC outperformed even our wildest expectations and our current 'fair value estimate' is $25/sh.
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