The following are notes from Carson Block's presentation from the 10th annual Sohn London Investment Conference, which took place on December 6th, 2023.
Carson Block on Shorting Blackstone Mortgage Trust
- Carson Block, representing Muddy Waters, discusses the shorting of Blackstone Mortgage Trust Inc (NYSE:BXMT).
Blackstone Mortgage Trust Overview:
- Muddy Waters is shorting Blackstone Mortgage Trust, citing concerns about its business fundamentals, predicting a liquidity crisis, and recommending dividend cuts.
- Blackstone Mortgage Trust has a market capitalization of 4 billion.
Business Model and Risks:
- Blackstone Mortgage Trust operates by capturing spreads...