DAC Overview

Global Market Trends: Investors are currently favoring narratives over financial fundamentals, leading to many companies trading below their book value despite strong balance sheets and financial health, particularly in the U.S., Europe, Japan, and China.

U.S. Market Insights: In the U.S., many asset-intensive businesses, especially in the financial sector, are undervalued despite solid capital positions and liquidity, reflecting a market mindset of crisis rather than current financial realities.

European Financial Strength: European banks and industrial companies are well-capitalized and generating profits, yet they are trading below tangible book value due to market perceptions of impending downturns, creating investment opportunities.

Japanese and Chinese Opportunities: Japan's companies often have strong balance sheets with net cash positions, while in China, a distinction exists between companies with solid financials and those facing real risks, presenting a selective investment landscape focused on financial strength.

Upcoming Ex-Dividend Dates: Alight Inc (ALIT), Danaos Corp (DAC), and Watts Water Technologies Inc (WTS) will trade ex-dividend on 12/1/25, with respective dividends of $0.04, $0.90, and $0.52 scheduled for payment on 12/15/25 and 12/11/25.

Expected Stock Price Adjustments: Following the ex-dividend date, shares of Alight Inc are expected to open 1.72% lower, Danaos Corp 0.92% lower, and Watts Water Technologies Inc 0.19% lower, based on their recent stock prices.

Dividend Yield Estimates: The estimated annualized yields for the upcoming dividends are 6.87% for Alight Inc, 3.70% for Danaos Corp, and 0.75% for Watts Water Technologies Inc, indicating varying levels of dividend stability.

Current Trading Performance: As of the latest trading session, Alight Inc shares are up about 4%, Danaos Corp shares are up about 0.3%, while Watts Water Technologies Inc shares are trading flat.