At Cobas Asset Management's first-ever annual investor meeting, its leader Francisco Garcia Parames gave a talk on his "company of the month," Teekay LNG. As Cobas described it in his first-quarter shareholder letter:
"Teekay LNG (NYSE:TK), a subsidiary of Teekay Corporation, is the world's major independent owner and operator of LNG (liquefied natural gas) carriers. Its assets, a fleet of sixty ships, have a useful life of 35 years and it has signed guaranteed charter agreements for an average of 13 years."
The flagship Cobas Seleccion Fund owns about 7.7% of the company and just increased its position by 115% in the second quarter.
The video of Parames' case study is in Spanish, but they expect an English version soon. Watch the video here.
