Investment ideas come from a variety of sources. In some cases, great ones are already out in the open. One of these is the thesis on Gencorp (GY), articulated by both Nick Toor of Luzich Partners, and Mark Mcguire of Marcato Capital Management over the past year. Much of the thesis remains intact. The company remains in an extremely strong niche that should provide for reasonable growth and stable margins over the future. The company's accounting policies cloud the true profitability of the company. And the acquisition of Rocketdyne from Pratt Whitney will be highly accretive. Consequently, this article will not focus on what is already known. Rather, it will focus on new information,...
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