Six Bravo, you are so kind! I am glad that you found my short story entertaining to read.
I sometimes consider writing a few more pieces but the truth is, compared to such awesome writers like you guys, Compounding Quality, The Rational Walk, etc, I just have nothing substantial to offer to the world.
It would be a great honor and pleasure to meet you in Omaha next year if you guys plan on attending. Or some other time and place!
Great article SB and congrats on getting close to 100 episodes!
Not only are coal companies hated, but as you point out they are also ignored, due to their small market caps and investors perception that coal doesn’t have a future. The 2 main coal analysts in the US are from B Riley Securities and The Benchmark. These are not exactly bulge bracket firms. Most quality information on coal companies is actually found on Twitter (Matt Warder, Chris Dyer, Bruce Morelan, the Koala) and on Substack, such as your newsletter.
I think CEIX and AMR share another trait besides their focus on buybacks — operationally they execute well. Mining isn’t easy and they face issues, but it seems to me that for some reason they run into fewer issues — such as lack of trains, explosions, or roof falls — than their competitors.
I love what you guys do! Keep up the great work. Wondered if you saw Monish's recent 13F disclosing a new position in ARCH (only his 3rd position with CEIX and AMR as the other two).
Thank you kindly for this great post!
Pavel, thank you for your kind comment. We loved researching and writing this piece, so we’re glad you enjoyed it as well.
We just read the article you wrote on your investment journey. Holy smokes, great stuff! We encourage everyone to read it!
https://davidjwaldron.substack.com/p/from-building-income-to-embracing?utm_source=profile&utm_medium=reader2
Six Bravo, you are so kind! I am glad that you found my short story entertaining to read.
I sometimes consider writing a few more pieces but the truth is, compared to such awesome writers like you guys, Compounding Quality, The Rational Walk, etc, I just have nothing substantial to offer to the world.
It would be a great honor and pleasure to meet you in Omaha next year if you guys plan on attending. Or some other time and place!
I wish you both a wonderful weekend!
Writing is such a great way to clarify and hone your thoughts and theses. We encourage you to create those few pieces.
We are considering a trip to Omaha. It’d be fantastic to meet up. Stay tuned.
Great article SB and congrats on getting close to 100 episodes!
Not only are coal companies hated, but as you point out they are also ignored, due to their small market caps and investors perception that coal doesn’t have a future. The 2 main coal analysts in the US are from B Riley Securities and The Benchmark. These are not exactly bulge bracket firms. Most quality information on coal companies is actually found on Twitter (Matt Warder, Chris Dyer, Bruce Morelan, the Koala) and on Substack, such as your newsletter.
I think CEIX and AMR share another trait besides their focus on buybacks — operationally they execute well. Mining isn’t easy and they face issues, but it seems to me that for some reason they run into fewer issues — such as lack of trains, explosions, or roof falls — than their competitors.
Tian, we believe you know more about these coal companies than we do! We appreciate all your on-point comments. Thanks!
Terrific note!
Thanks, Blind Squirrel! We are a new subscriber of yours. Keep up the great work!
The coal situation in India has so many fascinating aspects. We might write a stand-alone piece in it in the future.
Look forward to that! I took Coal India public in 2010!!
Okay, wow. Maybe we should just interview you.
It was 2010! You may need to give my memory some latitude 😂
Came via the Blind Squirrel, and grateful that I did. Duly subbed.
Hariod, we’re honored. Thank you.
Loved this episode guys, keep up the great work!
That is high praise coming from a writer such as yourself. Thank you, Michael.
You're too kind. What's the best way to get in touch with you guys? I would love to connect.
We can be reached at specialsituationinvesting@protonmail.com.
Not to nitpick... but its Natural Resource Partners. Easy mistake! Otherwise, very nice article.
Dude, thank you. Wow. We searched our pieces and found a number of the same slip-ups. Thanks for calling us out! 🫡
I love what you guys do! Keep up the great work. Wondered if you saw Monish's recent 13F disclosing a new position in ARCH (only his 3rd position with CEIX and AMR as the other two).
Thanks, Steve.
Yes, we saw it drop today. We posted it as a Note a few minutes ago. We are writing a follow-up piece as we speak.
Many thanks :-)
Writing this piece was amazingly fun. We’re glad you enjoyed it. Hopefully readers have enjoyed AMR’s rise in price as well!