Thematic Investors

Thematic Investors: James Davolos on why investors can’t paint-by-the-numbers in real asset investing

Mar 20, 2024

James Davolos, Portfolio Manager at Horizon Kin, talks about tackling high inflationary markets and the changing investment playbook. He discusses being a bottom-up investor using unconventional data collection techniques, the concept of 'immaculate disinflation,' and the benefits of AI for investors. Davolos also shares insights on the evolution of financial exchanges and the firm's unique investment strategies in real assets.

45:36

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Episode guests

James Davolos

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Episode notes

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Quick takeaways

Successful investing requires chasing inefficiencies and using unconventional data collection techniques.

Shift in investing strategies due to changing economic dynamics like inflation and interest rates.

Seeking investments in businesses with resilient models to navigate uncertainties and capitalize on opportunities.

Deep dives

James Tobalos' Background and Success in Fund Management

James Tobalos, the Co-PM of the Inflation Beneficiaries ETF and PM of the Internet Fund, has a remarkable journey starting from the trading desk to managing successful funds. His small cap fund in 2022 outperformed 1,400 funds, showcasing his rising star status in the value world. With a background shaped by his family's experience during the SNL crisis, James learned invaluable lessons about business and finance, leading to his current achievements in fund management.

Introduction

2min

Navigating Inflation: Insights from a Finance Expert

10min

Exploring the Unique Case of Texas Pacific Land

21min

Exploring the Evolution and Profitability of Financial Exchanges

3min

Diversifying with Real Assets and Compounders

5min

Exploring the Firm's Unique Investment Strategies and Core Competencies

3min

Looking for asymmetry in the institutional investing space, and making it a part of your core competencies is not an easy task. In many instances, this requires hard work built on chasing down inefficiencies in the market and going into research overdrive on an idea where very little sell-side coverage exists. This is where great success stories are made.

In this week’s episode of the Thematic Investors podcast, host Kieran Cavanna, speaks with guest James Davolos, Portfolio Manager, Horizon Kinetics who shares his methodology on tackling high inflationary markets while becoming a rising star in the value investing space.

James also covers:

his early hotel beginnings on the New Jersey Shore and how that evolved to the trading desk at Horizon Kinetics.
the end of the ‘Goldilocks’ scenario of low inflation, volatility, interest rates, and how the playbook has changed from the last 10-20 years.
what it means to be a bottom-up investor, going after investment opportunities using unconventional data collection techniques.
the prevailing logic around the topic of “immaculate disinflation” and whether investors are considering the full picture?
easy gains in AI for investors, and what does the full net benefit look like over time.
And more

Connect with Kieran Cavanna:

Connect with James Davolos:

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