I too am suspicious of such well considered views coming from burner accounts with one post to their name. Of course, they're just doing it for our benefit ;-)
Though regardless of the genuiness of the poster, the points raised are useful to review. If one considers the balance sheet, it looks like Transurban (capital up front, revenue downstream) - and if one doesn't understand the business, it'd look pretty horrific.
The bet remains the same to my mind. Can the operations continue to expand, while capital requirements diminish? All signs from the market analysis of SFG and HUO make me think yes, but then again CSS had horrific results this morning. Lets see.
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