Value Hive Podcast Q2 2024 Investor Audibles: Legacy Ridge Capital, Kathmandu Capital, Alluvial Capital
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Aug 23, 2024 Dive into insightful discussions on the latest Q2 fund letters from Legacy Ridge and Kathmandu Capital. Discover their cautious cash allocation strategies and sector performances amid volatile market conditions. The podcast highlights an intriguing recovery perspective on NagaCorp, showcasing its growth potential post-COVID. Additionally, explore the strategic expansion of Caspi and Voujian Group in Kazakhstan along with a comparative analysis of small-cap versus large-cap stocks. It's a treasure trove of investment insights!
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Focus on Absolute Returns
- Legacy Ridge Capital prioritizes absolute returns over relative returns.
- They believe a concentrated, high-quality portfolio is key for long-term success.
Vistra Investment
- Legacy Ridge Capital maintained a high cash position (30%) in H1 2024.
- Their investment in Vistra (VST) outperformed, reaching intrinsic value sooner than expected.
Summit Midstream Restructuring
- Summit Midstream Partners (SMLP) is restructuring, divesting assets, and converting to a C-Corp.
- Share repurchases are considered a better use of capital than dividends at the current valuation.