Lou Whiteman

We like to say things like, they're doomed, they're a success.

A lot of times, the truth is the boring middle.

Nike is fine as a company and it's just not interesting as a stock.

Both of these things are true.

For all the gloom and doom, it's a profitable company generating $45 billion in annual sales

Anemic growth, but growth.

It's not going anywhere.

There is a turnaround plan.

I don't think it's going to be like the rocket ship from the 80s again, but there is signs that the turnaround plan is working.

It's just not an attractive investment.

To your point on valuation, I don't know what it could be.

We talk about they have to out-innovate on holdings, but the point is that on holdings exists.

It used to be that with your muscle and marketing, Nike could just flood the market and dominate.

That was before Instagram.

That was before TikTok.

One good influencer can get you in the game now, especially for kind of a niche or a sport.

The world has changed in ways that don't benefit Nike.

I'm not saying it can't continue on as a company.

I'm not saying that it won't be the biggest seller of athletic shoe wear from here.

I think it could be.