5 Comments

Any updated thoughts on ARA? I recently started a position after following the company over the last 2/3 years.

Expand full comment

It looks cheap, but neither of us own it at the moment. definitely a high risk, high reward opportunity.

Expand full comment

What do you see as the biggest risks here? They've always ran the business pretty conservatively.

Expand full comment

The biggest risk is they don't generate much growth and cash flow conversion is weak + don't optimize capital returns to shareholders. This is why stock has floundered, but it is still mighty cheap

Expand full comment

Mighty cheap indeed.

Expand full comment