Mark to market: catching up on GAN, WTE, AER, Gold, Tankers, BFAM, and more

(Advance note: thanks again to all new and returning premium subscribers. I highly recommend all subscribers follow me on Twitter @puppyeh1 as I do endeavor to live-tweet key changes in my views/trading positions in any name I have written up.) This will be a bit of a ‘grab bag’ post, intended to catch up new … Continue reading Mark to market: catching up on GAN, WTE, AER, Gold, Tankers, BFAM, and more

Bright Horizons Family Solutions: pre- and post-COVID, major trouble ahead

Trading at 21x LTM (pre-COVID) EV/EBITDA and 33x FCF, the market views Bright Horizons Family Solutions (BFAM), the child-care center operator, as a secular growth story largely untouched by the current maelstrom. Prima facie, this seems justified, as the business has put up high-single-digit revenue/low-double-digit EBIT growth CAGRs over the last decade; sports impressive returns … Continue reading Bright Horizons Family Solutions: pre- and post-COVID, major trouble ahead