It's good to see interest rates (3YR below) start to unwind...

It's good to see interest rates (3YR below) start to unwind after last week's spike.

We know that interest rate management is not their forte, despite being in the lending business - I chuckled at mgt's incompetence as they said this like it wasn't a self-own (FS companies cannot be surprised by rate movements as that's your job!).

Anyway, over at ANO (different sector obv), the major SH is the CEO and he's trying to take it private with SP at the lows - that's a worry here as AA as said he thought about doing the same a decade ago.

Bollies are tight - waiting for quarterly update....

[As an aside, understanding top-line growth and credit quality are obv important but the update needs to address bottom-line too as that's the quandary here - they need to convert to FCF - a 10% ROE is ~$60m which is easily achievable and that would light a rocket under the SP]