AJ Secrist from Firstlight Management on Lamb Weston $LW

AJ Secrist from Firstlight Management discussed his thesis for Lamb Weston (LW). LW is a very strong business, and AJ thinks the market is missing just how much margin upside there is as COVID era deals with large customers reprice and the company laps 2021’s disastrous potato crop.   Chapters  0:00 Intro  2:25 LW Overview  9:35 LW Valuation  13:00 Isn't LW fully valued at these prices?  19:25 Discussing the current potato crop  26:55 Global margin upside  28:35 Why is scale an advantage for LW?  31:45 Why will LW's margins accelerate now?  34:30 Industry demand and supply dynamics  37:20 Capital allocation and share buybacks  41:30 Management incentives and share price targets  45:00 Potential private equity or BRK end games  48:10 A little more discussion on LW's potential P/E multiple  51:10 What happens if we have a low carb craze again?