“Ranking our Portfolio Watchlist – Meta, CSU, Copart, Shopify (Tier List)”
MSGS is now fairly valued with the NAV discount closed; the investment case is weak due to dependence on team performance.
this is one of the this was actually the first company we covered on the podcast. Um, I didn't want to set a precedent of of of buying into businesses that didn't have great, you know, underlying operating uh uh metrics where like, you know, there is a speculative component of it of you're you're saying, hey, you know, billionaires are going to keep getting richer and they're going to, you know, bid up the price of of these uh trophy assets more and more and more.
And then there's some tax loopholes that you do that you don't do or don't know whether they'll uh they'll close.