Waiting for Godot
Waiting for Godot
About that elusive recession, and a few words on Topgolf's free cash flow
Highlights:
Making the case for no recession.
Topgolf as a read through to how people are spending money.
New metrics at Topgolf are a red flag.
Face it folks, this recession that has been supposedly just around the corner for nearly two years...
And now, every other story is about the increased likelihood of a soft landing.
Are we there... yet?
For an answer, I turned to one guy who so far has gotten it right, Donald Broughton of Broughton Capital of Broughton Capital... a longtime transportation and freight analyst and consultant who keeps his own sets of data and proprietary algorithms.
I like talking to Donald because he has been around, does his own work… and is not quoted every five minutes everywhere you turn.
I first quoted him on his lack of concern about a recession in May 2022, in a piece headlined, “What One Obscure, Overlooked but Accurate Recession Indicator Is Saying.”
I followed up earlier this year, in a piece headlined, “Why Talk of a recession might be wrong.” …