aftermarket
2 articles
- The Conviction-Weighted Restructuring of Portfolio Exposure
The 5% hurdle-rate regime sorts capital by asset duration, financing structure, and pricing power. Conviction-weighted portfolio restructuring captures structural rents — nuclear uprate rent, energy delivery premium, defense industrial base — while hedging the mechanical repricing risk of concentrated technology valuations. Calibrated probabilities for a 10–15% correction, a systemic bear market, and multiple persistence are illustrated.
- The Commercial Aviation Aftermarket Chokepoint: Why OEM Rent Extraction Is Not Just a Software Problem
The commercial aviation aftermarket is not a free market. We outline the causal chain from flight-hour authorization to mandatory shop visits to digital telemetry locks, exposing how engine OEMs extract monopoly rent through FAA compliance architecture — and why the PMA alternative market remains structurally capped.