Short Attack - Price Manipulation, page-64

of everything I own, NTD is the cheapest

it is also a distributor, but in an industry where the tailwinds are not nearly as strong as tech. Until 2020, there was a squeeze on margins. The trough of the cycle is when NTD management bought a very large competitor at NTA. Since then, they've been flying. And still 5m in synergies to realise (Easy ones, like consolidating distribution centres)

id much rather that at 5-6 times forward earnings, versus something at 30 times. Even though DDR has a very nice tailwind from the ever expanding tech device world.

A 20% FCF yield is very hard to pass up