similar thesis to Chipotle?
It appears he is not short DPZ from his recent letter ( did not disclose at least).
We, however, believe that the downside is much greater than the upside and are initiating a short position today.
2013 EPS estimates are way to high at $2.3.
Barriers to entry are low.
margins have peaked
Insiders are selling
What if DPZ were valued at a "market multiple"?
Sentiment: Strong Sell
"Pizza Hut spends millions on delivery revamp. Pizza Hut Delivery says it wants to expand to 700 stores with a multimillion-pound investment that could create up to 2,000 jobs"