· 个股论点
嗯，我进一步研究了一下。虽然“异特龙(Allosaurus)”模式很有前景，但对于 $HPP 来说，三次降息对租赁业务的影响远不如对 $Z 或 $$OPEN 等房屋销售业务那么大。降息通常能鼓励招聘，但我们又遇到了 H1-B 签证风波，这也没带来什么好处。 该公司债务众多，其中 85.4% 为固定利率债务，因此不像使用浮动利率的公司那样能从降息中获益。 不过，其股价低于净资产值(NAV)。通常股价低于 NAV 是有原因的，其他对冲基金可能已经将这些因素计入价格。我不够了解，无法判断哪一方是错误的。 我并不太看好，但也许“恐龙”看到了我没看到的东西。
Hmm, looked into it more. While the Allosaurus pattern is promising, for $HPP, triple rate cut doesn't really affect leasing too much compared to home sales like $Z or $OPEN. It usually encourages hiring but we got the H1-B drama, which isn't helpful either. They have a lot of debt, 85.4% of the debt is fixed so it doesn't really benefit from rate cuts like companies that use floating interest do on top. It is below NAV though, usually there's another reason why it's below NAV that other hedge funds priced in. I don't know enough to say whether one party is wrong or not. I'm not too bullish, but maybe the dinosaur sees something I don't.