Hey everyone,

It’s been a while since I did a full write-up, so this was really overdue. This idea actually came about while I was just sitting on my hands, waiting for my price targets to hit and for some options to mature. I was looking for a place to park some cash and stumbled upon an arbitrage opportunity in Mount Logan Capital ($MLCI). What started as a quick, short-term trade turned into a bit of a rabbit hole. Once I looked past the "nightmare" accounting, I found a deeply undervalued business hiding in plain sight.

In today's update, I talk about the arbitrage mechanics, and the hidden "Brain & Muscle" engine underneath that makes this such an interesting special situation.

Hope you enjoy the return!

Cheers, Dan

Read the full write-up & see the diagrams:  https://open.substack.com/pub/andreevdan/p/write-up-arbitrage-opportunity-mount?r=4klyy7&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true

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