I was an original SH under the old regime - and at a substantial level right from seed capital level. Also from seed in Titomic so understand the history very well. I bet we share similar stories.
Our holdings are significant here and we continue to add to the position. Agree that the old 3DA was problematic but they did achieve some positioning advantages but the future looked bleak. I disagree that Hank is polishing a turd - he has flushed that down the toilet already and bought a new Japanese high tech toilet - for want of that analogy. We are very impressed with the team - and I say that from personal interactions. I continue to hold Hank and the team (McMaster included) in the highest regard re integrity, patriotism and intellect. Hank is very very well connected and holds a position with the Hoover Institute. He would be in my top three execs over our 25 years in this business. To take on 3DA from where it was, to where it is now strategically and practically given his background is beyond impressive.
Re a CR, no issue for us. We will participate if invited and whether it is before or after any announcement doesn't matter as we are building a major long term position - as we do with most of the businesses we invest in.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)