News & Insights
Featuring commentary from Andrew Axelrod on navigating complexity in middle market credit and unlocking value through active involvement.
The Nucleus: Why a Failed Balance Sheet Doesn’t Mean a Failed Business
In 1976, GEICO’s stock fell from $61 to $2 a share. Management had mispriced risk so badly that the company nearly ran...
September 24th, 2026|6 min read
The AI Value Gap
Your inbox is probably already full of the pitch for AI. What’s harder to find is a description of the work itself:...
August 21st, 2026|8 min read
Switching Costs, The Moat Customers Don't Notice They're Trapped By
A revenue decline and a customer defection look identical on a P&L. They are not the same event, and confusing them is...
August 19th, 2026|4 min read
The Compounders Built on Overlooked Balance Sheets
See's Candies. Nebraska Furniture Mart. Borsheim's. Berkshire Hathaway's formative deals were not famous companies....
August 5th, 2026|4 min read
H2 2026 Distressed Outlook: Elevated cost of capital, software debt in focus
We at Axar Capital are excited to see our CIO Andrew Axelrod cited in the informative 2H 2026 Distressed Outlook piece...
August 3rd, 2026|0 min read
2026 2H Market Outlook – the “Velvet Rope Market”
When we published our annual outlook in January, the defining feature of leveraged credit markets, from where Axar...
July 9th, 2026|7 min read