耐克换 CEO 后，市场已经在为复苏定价
达摩达兰读完《鞋狗》后分析耐克的品牌价值：除 2023 年外，耐克的营业利润率一直比行业高 1.5–3 个百分点，说明品牌有溢价；但转向线上直营、绕开鞋店可能削弱了品牌，2023 年是警钟。他按三个时期的增长和利润率估值，如果增长和利润率回不来，价值会大幅下降。六周前 71 美元时胜算在投资者一边，换帅后反弹到 88 美元，市场已在定价复苏。
At the $71 stock price that the stock was trading at, just six weeks ago, the investing odds would have been in your favor, but the bounce back in the stock price to $88, after the new CEO hire, suggests that the market is pricing in the expectation that the company will bounce back to higher growth and better margins.