Intro

Gary Mishuris is a CFA and managing partner of Silver Ring Value Partners who combines MIT computer science training with behavioral discipline to practice intrinsic value investing while pioneering practical AI integration in fundamental research.

The episode is sponsored by TenzingMEMO — the AI-powered market intelligence platform I use daily for smarter company analysis. Code BILLIONS gets you an extended trial + 10% off.

https://www.tenzingmemo.com/

And if you haven't yet, find me on Substack!

3:00 - Gary frames AI through personal experience: recalls Fidelity portfolio manager using legal pad instead of Excel 25 years ago—illustrates how refusing modern tools creates disadvantage, not discipline.

5:30 - The two extremes of AI: Luddite view (AI pollutes your process) vs. magic genie fallacy (ask AI for winning stocks). Reality: AI enables more efficient work, but you still do the hard work.

7:15 - “AI natives” concept: younger professionals naturally integrate AI like digital natives adopted technology. Gary warns against becoming dinosaurs by refusing to explore AI’s capabilities.

12:00 - Key insight: AI forces introspection about your investment process. Where do you add unique value and judgment? Where are repetitive tasks easily enhanced by machines? Must stay “on the loop” and verify outputs.

22:00 - Practical AI applications: earnings call analysis, pattern recognition across transcripts, competitor analysis, business model breakdowns. AI excels at synthesis and organization tasks.

35:00 - Critical limitation: AI hallucinates and makes mistakes. Never trust blindly. Use AI to generate drafts, frameworks, and organize information—then apply human judgment and verification.

45:00 - Discussion of behavioral traps: AI can create illusion of thoroughness through volume. Don’t confuse encyclopedic reports with quality analysis. Reference to Buffett’s one-page 1951 Geico analysis.

58:00 - Warning about endless research: Know when to stop turning rocks. AI makes it too easy to keep researching instead of making decisions. Investment case should fit on one page.

1:05:00 - Shorting discussion: timing challenges, asymmetric risk. Emphasis on finding your own process—what works for others may not work for you.

1:10:00 - Final wisdom: “Don’t equate length with quality. Quality is quality”—whether generated with AI assistance or not. Process matters more than tools.

Podcast Program – Disclosure Statement

Blue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm’s employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice.

Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed.