James Telfser Airboss of America BOS-T BUY Oct 13, 2023

Did well during Covid, but then contracts got pushed. Has been bidding on meaningful contracts. He thought market would respond more favourably to improvements in AEP, but people seem to be waiting for more contracts. Optionality to unlock value in defense, property, AEP. Great buy here.

Go-to supplier during Covid. Struggling. Ukraine conflict has depleted stockpiles, which will need to be filled. Be patient for government contracts to appear. Incredibly cheap. Lots of levers to pull. Great new CEO.

Just look at the chart. Technically, it's not one you want. The stock went vertical, and then it's given it all back and more. What's the catalyst? Margin compression from cost inflation. Interesting, but wait and see what happens.

Has come off since Covid. Too niche for his global growth fund. Very orders-based, so when orders dry up, stock falls. Lots of competition. Not interested, despite drop in price. Better opportunities elsewhere.

It did well during Covid but has fallen off and it will be difficult to get back to Covid volumes. Its results are bumpy and he wants more consistency.

Company performing very well. Rubber products very profitable. US growth continues with defensive spending. Management team performing well with good strategic review. Expecting company to focus on traditional rubber compounding business - will increase cash flows.