"We try to buy dramatically undervalued assets, and we try to be creative, as we have [been] with MPCC and Anglo International," he said.
Today, many of his undervalued assets have caught fire, and Maupin's fund is facing interesting strategic choices, especially about red-hot MPCC.
Last month, MPCC's acquisition of Arne Blystad's Songa Containers put a spotlight on his interesting position, when Maupin and Mallin cashed in some of their MPCC chips.
In simultaneous sales worth together NOK 550m ($62m), Pilgrim Global and Star Capital took profits on some 25m shares to bring their number three and number one holdings down 4.80% and 18.22%, respectively. To TradeWinds, Maupin described it purely as a portfolio-balancing move.
The timing of that sale at NOK 22 per share benefited from MPCC's just-completed acquisition of Blystad's Songa Containers, but more generally from a booming liner market that had boosted MPCC's share from a 12-month low of NOK 1.9. Darren Maupin -> kilde Shareville