Hi Stu
Yup have read the Macquarie one a while back. These notes are always backward looking, as the market priced in these issues long before the notes came out.
I also feel stocks that have manufacturing facilities in the US will slowly get re-rated. The impact of cheap gas is going to give them a huge competative advantage. Long term story, but good nevertheless.
austal's second lcs launched in us, page-32
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