Apollo Education Group: Short Position Update
Harvesters,
Over the past several months I have been vocal about our short position in for-profit colleges, as well as the student loan industry in general (i.e., Navient/Sallie Mae). As predicted, yesterday's earnings report was atrocious - and that's putting it nicely. This business comes down to one thing, and one thing only: enrollment - and Apollo is losing more and more every quarter.
Holistically, this sector is beyond toxic, a melting pot of moral hazard if you will. I continue to stand by this short position going forward and anticipate a further downfall when the truth about Navient/Sallie Mae and the Department of Education comes to light.
If you have any questions regarding this research or this industry in general, please do not hesitate to reach out by contacting me at taylor@pinecapitalpartners.com.
Respectfully,
Taylor Mann
Over the past several months I have been vocal about our short position in for-profit colleges, as well as the student loan industry in general (i.e., Navient/Sallie Mae). As predicted, yesterday's earnings report was atrocious - and that's putting it nicely. This business comes down to one thing, and one thing only: enrollment - and Apollo is losing more and more every quarter.
Holistically, this sector is beyond toxic, a melting pot of moral hazard if you will. I continue to stand by this short position going forward and anticipate a further downfall when the truth about Navient/Sallie Mae and the Department of Education comes to light.
If you have any questions regarding this research or this industry in general, please do not hesitate to reach out by contacting me at taylor@pinecapitalpartners.com.
Respectfully,
Taylor Mann
Loading PDF
More from Taylor Mann
