Hi - I recently have been buying some TUC shares, and wanted to get people's take on the company and its current valuation. I feel the company is relatively cheap trading near 3 to 4 time FCF, but I worry that it is pretty heavily levered. On the other hand, high leverage is to be expected from a business that could be considered recession-proof. It is also good to hear there is some potential positive news / catalyst from some activist activity. Would love to hear people's thought.

Klarman Fan