big_triece

there's been some recent insider buying at UPWK, FTDR, OFIX, and VRNS

does anyone have concerns that HEI's covenants could get tripped with what's sweeping thru the airline industry? they have a 3.5x max Total Debt covenant, and while there's plenty of cushion in a normalized environment, you can paint a scenario in which that EBITDA # is severely impaired in 2020.

FSCT - $1.2 billion cybersecurity company with ~25-30% of its revenues coming from the government vertical. while it won't impact Q4 results, it could cause a deceleration from the company's 20% p.a. revenue growth going into 1Q19.

https://www.investors.com/news/management/leaders-and-success/family-ties-help-this-ceo-take-small-aerospace-firm-into-orbit/

Scuttlebutt Investor's presentation on brands - https://static1.squarespace.com/static/5309a1aee4b0695e51427115/t/5ac9afbd352f53a44fd71bd3/1523167186878/Brand+as+a+Competitive+Advantage+4.7.18.pdf includes a case study on FIZZ

latest issue of graham & doddsville, containing a piece on RACE by ADW Capital https://www8.gsb.columbia.edu/valueinvesting/sites/valueinvesting/files/Graham%20%20Doddsville_Issue%2027.pdf

S&P Downgrades Valeant After Default Notice From Shareholder http://www.wsj.com/articles/s-p-downgrades-valeant-after-default-notice-from-shareholder-1460632704?cb=logged0.6966716363057295 Lowered from B+ to B

http://www.wsj.com/articles/valeant-finishes-accounting-and-philidor-review-with-no-more-problems-1459862081?cb=logged0.8082989672431766

http://www.bloomberg.com/news/articles/2016-03-21/valeant-ceo-pearson-to-step-down-after-company-finds-replacement Pearson out as CEO. Also noted "improper conduct" by the CFO.

http://globenewswire.com/newsroom/nitfitem/814399/en?f=22&fvtc=10&fvtv=4567 solid results to start the year. total sales and EBIT up 14% and 20%, respectively. raised guidance for the year. business as usual for these guys.

Attached is a great writeup on Exor from Greenwood Investors. FCA__RACE__EXO_-_What_if_the_Market_is_Right__05a7ae4c6c.pdf

I've been digging into it for a couple weeks now. Like the business a lot. Take a look at the most recent investor day materials. They talk a lot about the investments they have going on. One recurring theme is management's intense focus on ROIC for these projects. Cimpress_Investor_Day_2015_for_Nasdaq_upload.pdf 2015_Analyst_Day_Transcript.pdf

http://www.wsj.com/articles/fiat-chryslers-goal-for-alfa-romeo-slipping-1452335407

RACE shares still haven't shown up in Schwab either >:(

3D printing is not the game changer you think it is for aerospace. For each part that you are going to utilize 3D printing, you have to get that process approved by the FAA, which takes lots of time and money. You can't just say, we are switching to 3D printing for all parts. Mission critical or not, each one of those parts and the manufacturing processes have to undergo an approval process by the FAA, or foreign counterpart. For a company like Transdigm (or HEICO or PCP) that has hundreds, if not thousands, of parts / systems in the supply chain, it will be a long time before a competitor can eat away at their market share via a lower-cost manufacturing process. The playing field may start to shift away from them, but it will not occur quickly (IMHO).