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 […]
Tag Archives: UAL
[DHR] Danaher
[scuttlebit] Danaher update
It’s been nearly three years since I last wrote up Danaher and Thermo Fisher, so [...]
Continue reading →[RYAN] Ryan Specialty
[RYAN] Ryan Specialty – the middlemen have middlemen
This is a companion piece to the Kinsale writeup from a few weeks ago, where [...]
Continue reading →[MCO] Moody's Corp
S&P, Moody’s, and the limits of AI disruption: Part 2
I briefly discussed credit ratings in my S&P write-up. It’s a great business, we all [...]
Continue reading →[WIX] Wix.com
[scuttlebit] Wix at the AI Crossroads
What are scuttlebits? Wix was conceived to democratize the creation of websites at a time [...]
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Continue reading →[SPGI] S&P Global
S&P, Moody’s, and the limits of AI disruption: Part 1
(Part 1 concerns S&P Global; Part 2 will be published next week and discusses Moody’s) [...]
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