Monday’s new plan is bigger than expected, but we believe markets have over-reacted and a patient investor can potentially double their money by 2026.
A lot of this analysis is based on mgmt guidance/costings etc. How do you get comfortable in their credibility given the string of GTF issues, guidance reaffirmed at Paris air show, then cut on initial announcement, then cut again recently, without telling MTX. How do we know this isn’t rolls royce style death by 1,000 cuts? It’s obv cheap if you just plug in their fcf guide but how do we diligence that guide?
Thanks for the note. Well written, as always. Are you concerned about the lack of insider trading in recent times? I would have thought mgmt would like to take advantage of the opportunity. Thanks again!