It's time to welcome back Chris DeMuth for his monthly state of the markets. For this November 2023 edition, Chris provides his take on the opacity and aggression of the FTC, how he is thinking about the Spirit trial, Amazon / iRobot deal and reflections on Charlie Munger. For more information about Rangeley Capital, please visit: http://www.rangeleycapital.com/ Chapters: [0:00] Introduction + Episode sponsor: Alphasense [2:07] What is on Chris' mind this month: M&A, arbitrage, anti-trust, recent podcast with Lena Khan, Chair of the FTC [7:49] How Chris is thinking about the Spirit trial, and the implications if the merger does not go through [21:07] Spirit trial: airplane shortages and expert witnesses [29:35] Spirit / JetBlue bear argument about hot docs [33:47] Amazon / iRobot deal [40:16] Final thoughts: reflections on Charlie Munger Today's episode is sponsored by: Alphasense This episode is brought to you by AlphaSense, the AI platform behind the world's biggest investment decisions. The right financial intelligence platform can make or break your quarter. AlphaSense is the #1 rated financial research solution by G2. With AI search technology and a library of premium content, you can stay ahead of key macroeconomic trends and accelerate your investment research efforts. AI capabilities, like Smart Synonyms and Sentiment Analysis, provide even deeper industry and company analysis. AlphaSense gives you the tools you need to provide better analysis for you and your clients. As a Yet Another Value Podcast listener, visit alpha-sense.com/fs today to beat FOMO and move faster than the market.