Buy Now, Pay Later QVC & HSN $QRTEA

During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed Buy Now, Pay Later QVC & HSN $QRTEA. Here’s an excerpt from the episode:[Klarman]Q2 2020 hedge fund letters, conferences and moreReasons To Avoid QVC and HSNBill: Yeah. So, in case you don’t think QVC is bad enough to own, why don’t we heap leverage on it. So, you’re looking at a $10 billion EV with $6.7 billion of debt, $1 billion of cash, 4.5 of market cap. You got $1.6 billion of free cash flow to equity. So, you’re paying $1059 a share today. For that, not only do you get all that debt, …

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HEDGE accordingly