Archive for the ‘RESI’ category


Altisource Asset Management (AAMC) – A $2 Billion Dollar Parasite

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Bill Erbey’s empire is a complicated web of companies with inter-related interests. The history first:

AAMC Corporate Structure

 

The Host-Parasite Relationship between RESI & AAMC

The focus here is on RESI and AAMC’s parasitic relationship – here’s how it works:

With shared upside, no bills and no downside, the question is:

Is AAMC disproportionately benefitting at the expense of RESI shareholders?

The conclusion from Glaucus Research is an emphatic YES. RESI massively overpays AAMC.