Q: Big speculative winners this year. Any merit for continuation in 2025? Thanks...

Q: Hello 5i team,
In light of ANRG slowly going back up, I am curious what the underlying problems were with the company? Ultimately it always comes down to too much debt, but that is only a result. Was it bad management or simply a bad high capital idea (converting waste to fuel). Looking at the recent new money being put in (Marny/insider purchases) it seems people are still confident in this company.

Are there other companies in this space that have actually succeeded in doing this?

Thank You,
Andrew

Q: Puzzled by the big move in the last 3 months, absent any big news. Bloomberg have anything? Thanks for all you do - John