No position. I only own two stocks in my portfolio - CUTR and CCL. Just thought I'd share with the thread whenever I come across something that comes up on my screen.
ALGT seems to have a decent operating history and is largely a profitable enterprise. It fits in my category of "classic" value. Problems, undoubtedly, but all of these companies with low ratios have problems.
GRVY is different and, to be honest, I don't get it. Same with CSCO - you'll notice I haven't commented on it because I haven't got a clue! NGL also probably isn't the right fit for me - it's an LP and I'm foreign.
Very competitive space. Lots of debt, labor issues, potential for disasters, how can you even consider the airlines as an investment..?
Imo, young Buffett would have salivated over airlines. Recall that he bought all sorts of terrible companies with no moat, structural problems (Dempster Mill comes to mind and that was quite "late") etc at cheap valuations and he made a killing.
In fact, he hasn't been able to ever replicate those returns ever since he became "mainstream."
Even then, I truly believe the stocks you pick don't matter too much so long as your thesis remains unbroken and is somewhat rational (in most cases, I feel people on this thread are right and will probably get rewarded in the l-t so long as they're disciplined - it's the discipline I haven't mastered yet).
You understand GRVY better than anyone - if what you say is correct, my belief is that the market will agree with you. |
