Kyle Mowery, Founder & Portfolio Manager at GrizzlyRock Capital stops by The Business Brew to discuss his investment philosophy. Kyle is a traditional value investor that tends to focus on smaller, cyclical companies. In this episode he talks about why he fishes in that pond, where he has found his biggest winners, how he thinks about investing, and much more. GrizzlyRock does very deep due diligence and Bill thinks highly of their work.
We hope you enjoy the conversation!
You can find Kyle’s Orion Engineered Carbons conversation with Andrew Walker at https://open.spotify.com/episode/7xmapUv85wtAoHpGlcMxmP?si=3wZXGogJT5-zbU5aJxv1NA
or https://yetanothervalueblog.com/podcast
Thank you to @mathewpassy (on Twitter) for the show production.
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Detailed Show Notes:
4:30 – Kyle’s view on the macro environment
7:00 – What Kyle learned in 2008
8:00 – What working in mezzanine debt did for Kyle’s career
10:50 – A case against microcaps
12:00 – Due diligence
14:50 – What was interesting about Darling International?
19:50 – What GrizzlyRock sees in OEC
26:05 – The merits of running a long/short strategy
29:15 – Chicago chit chat
35:15 – Back to investment discussion
36:30 – Why Kyle prefers more of a deep value philosophy
40:57 – What got Kyle interested in Orion Engineered Carbons?
51:14 – What is CoVest Select
1:01:10 – Thoughts on starting a fund
