Investment Insights and Big Tech Comparisons

This chapter opens with sponsor advertisements promoting investment opportunities, including Public Investing, Vanta, and Fundrise. It then transitions to a comparative analysis of the business models of Alphabet and Amazon, emphasizing the impact of capital intensity on their operations.

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Episode notes

On today’s episode, Clay is joined by Adam Seessel to discuss the developments of Big Tech over the past couple of years. Adam is an investor in Alphabet and Amazon, and in this discussion, he shares his updated thoughts on the two since he published his book, Where the Money Is, back in 2022.

Adam began his investing career doing research for Sanford C. Bernstein, Baron Capital, and Davis Selected Advisors. After these stints, he started his own firm, Gravity Capital Management. Since beginning a track record in the mid-2000’s he’s beaten the S&P 500. He’s been a contributor for financial writing in Barron’s and Fortune.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:47 - Adam’s key realizations as a value investor over the past 20+ years.

13:36 - How the concept of intrinsic value can help anchor us in reality even though it’s just a mental model we use to evaluate businesses.

27:37 - Adam’s updated views on Alphabet and Amazon since he published his book in 2022.

47:40 - Adam’s approach to taking advantage of the AI wave without paying hefty valuations.

54:01 - Why Progressive Insurance is dominating the auto insurance space.

And so much more!

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Adam’s Book: Where the Money Is.
Follow Adam on LinkedIn.
Related Episode: Listen to TIP465: Value Investing in the Digital Age w/ Adam Seessel.
Email Shawn at shawn@theinvestorspodcast.com to attend our free events in Omaha or visit this page.
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