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Clujso (David)
@d
I’ve been reading investor letters recently, and one caught my eye. Ruane Cunniff’s 2024 Overall portfolio results have been in tandem with the market, but there’s two outperformers worth highlighting 1/ Rolls Royce (535% return in the last 2 years): More flying hours of engines than 2019’s ATHs. 2 out of 3 new aircrafts have a Rolls Royce motor. Ukraine boosts their defense line. They are creating nuclear power plants in the Czech Republic, UK, Sweden and the Netherlands. Trading at low to mid tweenties in fwd eps. 2/ Liberty Media Formula One (46% return in last year): Two new races added this year, LVMH signed as the highest ever paid sponsor for 100M deal, and upcoming large media deals including movies and series are making this sport great. Liberty Media also acquired MotoGP. Trading at thirties fwd eps.
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Luiz Ramalho
@luiz
Any comps for them?
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