The Intrinsic Value Podcast - The Investor’s Podcast Network

TIVP050: Portfolio Review: Performance and New Positions w/ Daniel Mahncke & Shawn O’Malley

67 snips
Dec 14, 2025
Discover insights from a year-long portfolio review, examining standout performers and potential new additions. The discussion delves into Reddit's rapid price increase and contrasts long-term holding strategies. Explore intriguing investment opportunities in Crocs and Uber, with debates on each company's future. The hosts also analyze the merits of Salesforce versus Adobe, revealing insights on AI risks and valuation. Tune in for a lively exploration of trends and strategies shaping their investment approach!
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INSIGHT

Strong Returns Despite High Cash

  • The Intrinsic Value Portfolio returned about 9% despite large cash holdings early on.
  • High cash reduced performance but preserved optionality while they learned portfolio construction.
INSIGHT

Reddit’s Rapid Monetization Shift

  • Reddit skyrocketed after the IPO, driven by rapid revenue and ARPU growth.
  • The hosts view Reddit as differentiated with a long monetization runway despite being volatile.
ADVICE

Let Winners Run When Core Thesis Holds

  • Avoid trimming fast-growing winners purely because they exceed your fair value estimate.
  • Let multi-decade compounders run if you believe in their long-term upside.
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