AerCap Holdings N.V.
Thesis
AerCap is one of the cheapest stocks in the portfolio, trading at 7.9x earnings despite having appreciated 1,200% since initial investment. It operates in the commercial airplane leasing sector, which is expected to generate stable earnings.
Did it work?
worked
confidence: high
The long thesis on AerCap decisively played out: the stock returned +4816% over the ~17.6 years since the pitch, an exceptional outcome for a value-based pitch premised on cheap valuation (7.9x earnings) and stable leasing earnings. The valuation-discount framing was validated by massive long-run appreciation well beyond the 1,200% already achieved at the time of the pitch. With nearly two decades elapsed, the horizon is more than fully covered.