I’m a skier. 

You may not be. 

But you’re an investor, and you’re always on the lookout for an undervalued stock. 

I may have one – but I have something more: A deep discussion about the past, present, and future of the ski industry with Stuart Winchester, founder of stormskiing.com, the only journalistic resource dedicated to lift-serviced skiing. Stuart knows everybody in the ski industry, and everybody knows him.

Stuart’s first big takeaway: Global warming is NOT killing skiing. 

His second? The declining number of ski areas in the US does NOT mean skiing is on the decline. Quite the contrary: While mom-and-pop rope tows may be disappearing, skiable acreage in the US has massively increased, as have skier visits. Skiing is alive and well.

So what, then, to make of Vail Resorts’ 53% stock price decline over the past 5 years? 

We can’t tell you for sure – nobody can in the social science of investing – but Stuart makes a compelling case that after Covid, multiple PR and staffing debacles, and other corporate chicanery, Vail Resorts (NYSE: MTN) is back with its new/old CEO – the sharp-elbowed Rob Katz — and at least could be a potentially undervalued play.

But this summary almost does our conversation a disservice, because we go so much deeper about so many things in the industry. It's a must-watch if you have any feelings about skiing or the ski industry whatsoever.