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Defense primes — Boeing, Lockheed, Raytheon (basket)

ITABearish

ETF tracking US aerospace and defense companies including major contractors and manufacturers.Yahoo Finance ↗

A sector/theme exposure, not a company — priced via the ITA ETF as a clean proxy. Excluded from the index and host funds.

1 take · first discussed Jan 4, 2025

Since their bearish call
-64.9%
$144.97 → $239.06 · since Jan 6, 2025· stance 555d old
Stock +64.9% since first discussed Jan 4, 2025
since first discussed · 1yr 6mo

How the calls played out

Click a call to see the price move since it aired.

prices through Jul 13, 2026
0%$250.58$137.40Friedberg on ITA · +64.9% since Jan 4, 2025+64.9%Jan 6, 2025Jul 10, 2026
click a chip for the quote + move since call

The discussion

The panel's view on legacy defense primes is represented solely by Friedberg, who holds a high-conviction bearish stance on Boeing, Lockheed Martin, and Raytheon as a group heading into 2025. He argues that defense budgets are rotating toward tech-driven, ROI-focused spending, leaving traditional "Defense 1.0" contractors — reliant on cost-plus government contracts — exposed to serious disruption. Friedberg specifically cites DOGE scrutiny of government contracting as an additional headwind that could deeply challenge these companies' core business models. No other hosts offered a competing or corroborating view on this basket.

How they got there

FriedbergFriedberg1 mention since Jan 4, 2025
NegativeE209Jan 4, 2025⚑

Friedberg predicts legacy defense and aerospace primes (Boeing, Lockheed Martin, Raytheon) will be the biggest business losers of 2025, as defense budgets shift toward tech-oriented ROI-driven spending and their cost-plus model faces DOGE scrutiny.

I went with the kind of old defense and aerospace providers, Boeing, Lockheed Martin, Raytheon, Defense 1.0... I think that this government contracting business across the board is going to be deeply challenged this year.”41:30
iAbout these quotes
Quotes are machine-transcribed from the episode audio — use the Listen links to verify any take against the source, or the ⚑ link to report a problem. Takes marked unverified, low-conviction, or commentary-only never move stances, the index, or the funds.