New Corp
Thesis
Zell refers to acquiring New Corp, which had $250 million in NOLs, indicating his strategy of capitalizing on tax advantages that were not recognized by the market.
Did it work?
inconclusive
confidence: low
The thesis describes Zell's strategy of acquiring New Corp to capture $250 million in unrecognized NOL tax advantages, but no price performance data is available and the time elapsed is unknown. Without price data, the verdict rests on whether the thesis events occurred, yet the pitch does not specify a measurable catalyst, horizon, or outcome that can be confirmed. There is no evidence the market ultimately recognized the tax value or that the position generated a return, so no confident judgement is possible.