The 8.625% baby bonds (HROWL) from Harrow Healthcare (HROW) are now trading on NASDAQ and last traded at $24.86 after trading as low as $24ish.
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5/14/2024
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HROW?
Let’s refresh.
HQL has been around since 1992, before SPY came into existence in 1993. HQL squeaks past the SPY during those 29 years at 10.49%/yr ATRs.
If your take is “I’m looking for 80 b.p. then sell” – HQL has volatility, plenty of volatility, together with a mere .49 correlation with the SPY.
Multiple tops and bottoms through the year.
Hold a core position to gather the 8.78% divie; then hold another that you trade through the year.
Fredson Jacobs, could you clarify? What is the relationship between HQL and HROWL?
furcal – they are 1) both healthcare, 2) carry 8.75% payouts, and 3) bear the potential for 80 b.p. trades.
If those are the goals for those of us looking at HROWL, HQL is arguably a safer and better way to accomplish it.
I think the point is that HQL provides a better risk adjusted return than HROWL, so why go for HROWL? I would agree, perhaps with the qualifier that HQL is richly priced right now and this may not be the best entry point.
Put another way, if you’re going to take equity kinds of risks – as you are with HWORL – why not do it for equity returns?
I picked up some at 24.90 , its a risk but so is everything. I know about the eye business and read up on the company. Some of the equity they have in some of the other ophthalmic corps is valuable.
Picked up a small amount @24.9. Haven’t really studied the company but now I have an incentive. Curious they also sold $11mm of PFD B to BRiley privately. Wonder what kind of yield? Lots of fund raising for a small company.
I picked up some at 24.90 , its a risk but so is everything. I know about the eye business and read up on the company. Some of the equity they have in some of the other ophthalmic corps is valuable.
Thanks rvert
Same here rvert. I picked up a starter position at $24.90. Will do some research to decide if I want to expand the position. Nothing focuses my attention more than having some skin in the game!