Maintaining conviction and dynamic blind spots

Nick Kapur is co-founder of Tenzing Memo, an AI-powered market intelligence platform, bringing extensive experience as a former equity analyst and product leader who specializes in building investment research technology for asset managers.

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/

3:00 - Nick shares his origin story: born to self-made bankers in Washington DC, his mother broke barriers working in banking in the 1970s, and his father came to the US on an athletic scholarship before joining the World Bank organization.

5:50 - A pivotal 2009 tragedy: Nick’s uncle, a successful retail banker, was killed in a terrorist attack. His uncle’s advice—”Lawyers can only scale to a limited extent. You might be better for business”—became a catalyst for Nick’s entrepreneurial journey from intrapreneurship to founding companies.

8:32 - The birth of Tenzing Memo: Co-founder Tom Saber-Agan identified a fundamental problem—the time-intensive process of gathering, collating, and printing research materials for multiple companies didn’t scale with his ambition to “turn over a lot of rocks” in his investment process.

10:15 - The research gap: Nick explains how sell-side coverage has become less expansive, leaving investors without consolidated qualitative looks at companies, especially in small and mid-cap spaces where coverage is thin or nonexistent.

19:15 - Michael Burry’s observation resonates: fewer people are doing in-depth research today due to passive investing’s rise, creating advantages for active researchers who use modern tools to go deeper.

25:30 - How Tenzing works: The platform synthesizes earnings calls, SEC filings, and other materials into digestible sections—briefing, story, bar case, bull case, bear case—providing “almost superhuman powers in research.”

43:00 - The amplification effect: Nick emphasizes AI doesn’t replace human judgment but amplifies it—”you still need to pick which companies to look at and make the final investment decision.”

57:47 - Future developments: International coverage coming within weeks, including first non-US major exchange; new features like estimates reconciliation, “five surprises” (underappreciated catalysts), and enhanced PDF export for mobile research.

1:01:40 - Core mission delivered: “Get up to speed faster”—not 10% faster but exponentially faster, enabling investors to look at more ideas with greater depth.

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.