EFTA02453576.pdf

From: Sent: To: Subject: jeffrey E. <jeevacation@gmail.com> Sunda , Jul 8, 2018 9:58 AM Re: 1/ ok 2 ok 3 ok. =C2 . 1 bonds that receive intersest is no= a gain !. 1 the coupon is 10 but that is immaterial as=C2 the current yield is 916. On Sat, Jul 7, 2018 at 10=43 PM, <mailto w=ote: Hi Jeffrey > > We just got back tonight. I avoid putting on new pos=tions ahead of payrolls but this is what I recommend for Monday:=/u> 1. Fixed Income Idea - We own $2MM of the Exela=10% 2023 bonds. I bought them in October 2017. Currently we are up $250K (=113K from price appreciation and the balance from interest). This is an Ap=llo sponsored technology services company (Apollo owns 20%). Currently the bonds are trading at $102.75 yielding 9.1=%. The JPM credit team this can trade up to $105 plus the 10% coupon givin= a —12% annual return. I think this is a partial replacement for the $3MM =indred bonds that were called this week. I would add $1-2MM. 2. Equity Idea from the team who gave the CD Projekt (polish gaming stock) =dea - Buy InterActive Corp (IA=) on the back of continued success of Match.com and Tinder. Stock trades a= 19x 2019 estimates. Fits the mold of asset light platform company with 80=+ gross margins and a large digital moat. Stock at $155.50 =1u> =80 Tinder creates around 12 million matches every single day and users s=end 90 minutes a day reviewing their match. Tinder users log in, on average, 11 times a day. Tinder's mo=etization on the platform is leading to accelerating growth. Tinder subscr=bers are willing to pay for Plus and Gold services if they increase the ch=nces to connect. And subscription growth remains impressive with 87% sub growth YoY in 01 leading to 37% ARPU growt= and 3.5M subscribers. Tinder is the second highest grossing app (non-gami=g) worldwide and across Match dating products there are products in 42 lan=uages, 190 countries and 7M average subscribers." EFTA_R1_01554458 EFTA02453576 3. I am still long the August 280 SPY call. It was also a small $50K positi=n. We paid $1.55 for the options. It closed yesterday at $1.92. Time decay=will start to hurt and I plan to unwind next week. I expect equity inflows to continue next week and will u=e any market strength to unwind (targeting $3.00). • • Alpha Group Capital LLC 142 W 57 <https://maps.google.com/?q=142+W+57&=entry=gmail&source=g> th Street, llth<=sup> Floor, New York, NY 10019 /a> <mailto =/span> From: jeffrey E. <jeevacation@gmail.com <mailto:jeevac=tion@gmail.com> > Sent: Saturda Jul 7, 2018 11:48 AM To: <mailto Subject: Very odd not to have suggestions? For whole we=k!! please no=e > > The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com <mailto:jeevacation@gmail.com> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 2 EFTA_R1_01554459 EFTA02453577 =AO please note The information contained i= this communication is confidential, may be attorney-client privileged,=may constitute inside information, and is intended only for the use =f the addressee. It is the property of JEE Unauthorized use, disclos=re or copying of this communication or any part thereof is strictly pro=ibited and may be unlawful. If you have received this communication =n error, please notify us immediately by return e-mail or by e-mail to =a href="mailto:jeevacation@gmail.com" target="_blank">jeevacation@gmai=.com, and destroy this communication and all copies thereof, inc=uding all attachments. copyright -all rights reserved 3 EFTA_R1_01554460 EFTA02453578