Only thing I would add is that the new F1 cars for 2026 season will be a big spike too, they will all need totally new and redesigned cooling systems as they are such different drive trains. (more EV, less ICE.)
I happily took a large position on what I believe is a serious misjudgement by Mr Market of the intrinsic value of this business. It had been on my watchlist for years, it requires patience to get a position in the great businesses at any sort of discount to value.
That sort of catalyst should be obvious to the market, and yet, it is still in the naughty corner. Probably something to do with the still high valuation.
Though yeah, I think it is well set up longer-term.
It should be obvious to the market, but short termism is everywhere, most people dont even hold long enough for the effect of something happening next year!
Only thing I would add is that the new F1 cars for 2026 season will be a big spike too, they will all need totally new and redesigned cooling systems as they are such different drive trains. (more EV, less ICE.)
I happily took a large position on what I believe is a serious misjudgement by Mr Market of the intrinsic value of this business. It had been on my watchlist for years, it requires patience to get a position in the great businesses at any sort of discount to value.
That sort of catalyst should be obvious to the market, and yet, it is still in the naughty corner. Probably something to do with the still high valuation.
Though yeah, I think it is well set up longer-term.
It should be obvious to the market, but short termism is everywhere, most people dont even hold long enough for the effect of something happening next year!
Hope it works out well for you. It looks like a good business at a fair value kind of opportunity ( with a long-term view)
Nice write up. Thanks for sharing
Thanks.