Research Notes: Bottom Fishing
Why mucking in the swamp seems unlikely to pay off
📍 TLDR
In this market, big declines have been warranted. In many cases, business models simply don’t work in a normalized environment. Others don’t work in any environment.
That makes bottom-fishing difficult but we look at a few ideas here.
The market’s negative reaction to the Muddy Waters report on DLocal seems on point.
LYLT still seems intriguing afte…