Call me a sucker, but I’m tentatively a believer. With both stocks priced at under 10x trailing earnings (and 11x forward earnings assuming 1%-2% guided margin compression in 2017 at DAL), the market is skeptical about margin sustainability. Given the industry’s ignominious legacy of undisciplined competition, where the dumbest competitor has historically set the price […]
Category Archives: [UAL] United Continental
[FOUR] Shift4
[scuttlebit] yet another Shift4 take
MBI and I recorded an episode of Never Sell recently (The Big Tech Capex Debate, Amazon Retail, Align’s [...]
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Continue reading →scuttlebits [FI] Fiserv
[scuttlebit] Fiserv’s October Massacre
What are scuttlebits? On the heels of my Global Payments post, another boomer payments stock [...]
Continue reading →[AZEK] Azek [JHX] James Hardie
[JHX] Will James Hardie’s big acquisition pay off?
In last summer’s building materials series, I explained how branded manufacturers, like James Hardie in [...]
Continue reading →scuttlebits [GWRE] Guidewire Software
[scuttlebit] Guidewire scales
What are scuttlebits? Nowhere is the insurance industry’s notorious resistance to change more evident than [...]
Continue reading →scuttlebits [WISE] Wise plc
[scuttlebit] Wise is probably going to be fine
What are scuttlebits? “we fundamentally believe whoever has the best infrastructure in this space will [...]
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