My guest on the show today is Todd Wenning, the President and CIO of KNA Capital. Many of our listeners might have come across Todd’s excellent discussions of moats during his time at Morningstar and Ensemble Capital—or on his Substack Flyover Stocks. Todd founded KNA Capital earlier this year and I was eager to speak with Todd about:

• What pushed him to start his own firm;
• Why economic moats are so important to him and his process;
• How he decided on the right level of concentration;
• What he finds so valuable about the process of teaching undergrads; and
• Why nostalgia can be a very attractive theme to invest behind

For more information about KNA Capital, please visit: https://www.kna-capital.com/

For more information about the Flyover Stocks substack, please visit: https://www.flyoverstocks.com/

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