A great interview by Mariusz, Classic Value Investor and Microcap Explosions, with Voxtur CEO Jim Albertelli. The interview is focused on understanding the basics of mortgage service rights (MSR), importance of MSR in the current high inflation/interest rate market and how Voxtur benefits from the acquisition of Blue Water.
2 responses to “Voxtur: Interview with Jim Albertelli”
Hi Paras,
Any update on Voxtur ?
Thanks,
Guy
Guy,
Voxtur has struggled due to COVID and now the high interest rates. The company has delivered on everything they promised, except the elusive cash flow positive. The integrations have happened as mgmt said, the services they promised are delivered, the signing of the top players in the industry is also happening as mgmt mentioned. So mgmt has been executing but they have had their challenges.
In hindsight, Voxtur has been a venture capital company but just publicly listed. I typically don’t invest in venture type companies. So I would not have invested in it if I had be aware of few things (like the time it would need to hit cash flow positive, the m&a and dilution that was needed to get to this position).
But I think Voxtur is almost there in terms of cash flow positive. Probably in Q4 ’23 or early ’24 they will deliver it. Plus w/ a technology play the leverage is huge for them. So we will see the leverage as the growth comes.
So it has been a painful process but I think we are close to the end of that process. It is best to stay a bit patient and give mgmt a few more quarters to execute.