Due diligenceI queried some friends and colleagues recently and the concensus is BBD is still money losing dog that owes the government a ton of money.
I see this as a positive because the street investor is the last one to jump into equities. Just like last year when the wheels were coming off during covid and I was buying office/mall reits, restaurants, nursing homes, curise lines, hotels the average street beat consensus was to stash money under the mattress.
This is why the street always gets burned in the market, they buy too late and too high. When others start pumping BBD to me, that's my cue to trim.