Cheniere: Fully Valued Given Looming Oversupply

Core Viewpoint - Cheniere has shown significant improvement in its performance due to better margins, increased capacity, and a tighter global LNG market, leading to strong stock performance [1] Company Analysis - Cheniere has successfully navigated past solvency concerns and is now experiencing growth driven by favorable market conditions [1] - The company is positioned to capitalize on secular growth opportunities in the LNG sector, which is characterized by barriers to entry [1] Industry Insights - The investment landscape is shifting due to an aging population, low population growth, and stagnating productivity, creating new opportunities distinct from historical trends [1] - Many industries may face stagnation or secular decline, which could paradoxically enhance business performance as competition diminishes [1] - The economy is increasingly influenced by asset-light businesses, leading to a reduced need for infrastructure investments over time [1] - A large pool of capital is pursuing a limited number of investment opportunities, resulting in rising asset prices and compressed risk premiums [1]