Judd Arnold from Lake Cornelia Research Management on Offshore and Tidewater $TDW
Yet Another Value Podcast
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Is the Mid Cycle Earnings Number a Multiple?
I just have a horror false precision in this space because you just can't do it. These things are going to trade at the end of the day, every rig and every OSB is going to be scrapped. They're all worth zero. The only time in my career where I can argue with some reasonable certainty that we're probably going to have a market perception of an extension of useful life over the term and see of the trade which is like an unbelievable bonus.
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