Chris Waller, Founder and CIO at Plural Investing, joins the podcast for the third time to discuss his thesis on Seaport Entertainment Group Inc. (NYSE American: SEG), whose focus is to deliver unparalleled experiences through a combination of restaurant, entertainment, sports, retail and hospitality offerings integrated into one-of-a-kind real estate that redefine entertainment and hospitality.
For more information about Plural Invest, please visit: https://www.pluralinvesting.com/
Plural Investing/Hidden Gems write up on $SEG: https://www.hiddengemsinvesting.com/p/special-report-seaport-entertainment
Chapters:
[0:00] Introduction + Episode sponsor: Fintool
[2:22] What is Seaport Entertainment and why it's interesting to Chris
[7:40] What is Chris seeing with $SEG that makes Seaport a risk adjusted alpha opportunity
[9:20] Cash burn / is the district really that valuable, good
[17:41] What attracted Andrew to $SEG - how the opportunity came about (spin off from Howard Hughes)
[22:36] Ackman involvement
[27:25] Overview of Pier 17 and the new lease they've got there / Meow Wolf concept
[36:37] Tin Building and the vision for it / kitchen consolidation / competitive analysis
[48:50] Overview of 250 Water and Vegas assets (air rights, Triple A team)
[59:33] Overview of "The Historic District"
[1:02:38] How the $SEG thesis doesn't play out / new management team
[1:06:06] Final thoughts
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