I completely disagree with your comments on macro analysis. There are some fantastic macro analysts on twitter, @macroalf, for example. Macro Alf runs a free newsletter & is brilliant. To ignore macro factors while managing a portfolio is not wise. Macro headwinds are equally important to macro tailwinds, and yet most equity participants accept risk-on during a macro tailwind environment without questioning why risk-on is working? I feel that an overall understanding of the macro environment is extremely important in making capital allocation decisions. Just my 2 cents.
I didn’t even realize A&W was a thing. Some nostalgia there for sure. Loved that stuff as a kid! Will have to look into it...
"increasing same-store sales and the addition of new restaurants to the royalty pool. "
Don't they issue new units to match store count growth? So you basically just get SSS?
I completely disagree with your comments on macro analysis. There are some fantastic macro analysts on twitter, @macroalf, for example. Macro Alf runs a free newsletter & is brilliant. To ignore macro factors while managing a portfolio is not wise. Macro headwinds are equally important to macro tailwinds, and yet most equity participants accept risk-on during a macro tailwind environment without questioning why risk-on is working? I feel that an overall understanding of the macro environment is extremely important in making capital allocation decisions. Just my 2 cents.