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Disclaimer:
This video is for entertainment and informational purposes only and does not constitute financial, investment, or legal advice. I am not a financial advisor. The views expressed are my personal opinions. All investing involves risk, and you should conduct your own research and consult with a professional before making any investment decisions. Past performance is not indicative of future results.

09:04 - Introduction & Video Thesis
09:17 - What TAV Airports Does (Operator + Services)
09:31 - My 22.4% CAGR as a Mohnish Pabrai "Clone"
09:47 - Key Point: TAV Reports in EUROS (Not Lira)
10:07 - The TAV Story: Post-Pandemic Turnaround
10:25 - The Crown Jewel: Almaty (Perpetual Ownership)
10:44 - The Problem: Pandemic + Heavy Capex
11:15 - The Payoff: Capex Period is Over, Growth Begins
11:34 - Recent Earnings: Why is Net Profit Down 59%?
11:53 - Why Consolidated Financials are Misleading
12:28 - Why TAV is Still Cheap (Complex Structure)
13:06 - Analysis: Consolidated Revenue & EBITDA
13:42 - Analysis: Ankara Airport (New Concession)
13:52 - Analysis: The "Explosive Growth" in Service Companies
14:23 - Analysis: Net Debt is Under Control (De-leveraging)
14:47 - My Opinion: Pay Down Debt vs. Paying Dividends
15:10 - Analysis: Shareholders' Equity (A True Compounder)
15:18 - Valuation: Why TAV is So Cheap
15:33 - My Thesis: 200%+ Upside in 2-3 Years
15:40 - The Almaty Thesis: Worth Multiples of Market Cap
16:03 - The TAV Moat (Airports & Cargo)
16:29 - Final Investment Thesis Summary
17:11 - Outro