BCC updated valuation. +$1 by FY23 end, page-331

pretty much sums it up for me:

1) they state often ‘satellite products have a long shelf life/ use period’. I think this should be restated as ‘to date’ as the pace of change is going to accelerate exponentially the next couple of years. This is very clear from the competition from new entrants I have posted previously.

2) they have had a market leading product and price point for 2/3 years and not really hit substantial numbers outside US. The patience I would have had to just let this unfold was anchored to the hypothesis they would continue to have a market leading product. whether this remains to be the case we will see

hopefully a CF+ and overall strong qtrly for all holders and I continue to worship Beam well, but yes on an opportunity cost basis I have backed other horses now

cheers