QSR 是一只估值便宜、管理良好的股票，转型已见成效；尽管 Popeyes 存在问题且短期波动较大，仍优于同业。

One of the stocks I mentioned is QSR. What do you think of QSR? and we analyzed QSR a few years ago, and in terms of absolute value, it performed well. She performed well.

Compared to the S&P 500, it performed very poorly, but compared to other restaurant stocks, it performed well, which is something to consider. Um, regarding QSR, the problem with Q...let's take a step back .

QSR owns Burger King, Tim Hortons , Popeyes, and Firehouse Subs.

For a time, Burger King in North America was the bad boy. It seems they have fixed the problem. So they are in the midst of a transformation process that appears to be successful.

Now, people don't like Popeyes chicken. People prefer to go to Chickville A, and they need to fix that. The problem with diversification is that there is always something that goes wrong. But you have a cheap and well-managed stock.

They are run by a person who is the CEO, Patrick Doyle, whom I hosted on my podcast . It's great. He brought about a transformation at Domino's. He is the person who transformed Domino's.

I don't know if you remember. He was the CEO and the stock rose approximately 20 times under his management. He made those advertisements in which he essentially criticized his own product.

And he does, he followed the same business plan with Burger King and... the Whopper. Yes, with the Wubber, they redesigned it and put it in a new cover. It's the new...container or whatever you want to call it. So, the situation is improving.

and that's why we prefer QSR a little more . It's also slightly cheaper. You get a return of 3%, or 3.5%, maybe a little more while you wait.

They also bought a whole group of restaurants that relied on an asset-light business model , but one of the franchisees ran into problems. They bought Carols. There were approximately 1,000 stores, and over the next two years, those stores will be converted to a franchise system, and the business model will become completely asset-light.

So, there is a lot to admire in this story. I think it's a story where investors, if they can tolerate the short-term noise, can expect fuel prices to return to normal at some point, and interest rates to stabilize as well, hopefully at some stage.

If you are in a more stable environment, things should go well.

Yes, I mean that is a contributing factor, but companies are adapting to it by taking smaller quotas and selling different products. As you know, you have to decide whether that actually gives you a license to eat more Burger King than you have been doing before.

I think, I think it's a combination of GLP-1 medications, fuel prices, and consumer unease. Um, I think it's all of the above, you know, there's a greater trend towards healthy eating, but restaurants will adapt to that.

So, I don't think, I don't think you can point to just one thing . I think it's a combination of things, but you know, Burger King in North America is finally seeing positive sales in the same stores.

So people are going, and they are going more than they did the previous year.