Monetary Matters with Jack Farley Deep Engagement: A Banking Approach to Classical Value Investing | Donald Zilkha of Zilkha Investments
Aug 5, 2025
Donald Zilkha, founder of Zilkha Investments, shares insights from his extensive banking and deal-making experience. He discusses his investment approach, emphasizing deep research and management engagement to drive change. Zilkha reveals fascinating case studies, including Nathan's Famous Hot Dogs, highlighting the strategies that turned it around. He contrasts engagement with activism, delves into the evolution of investment strategies, and discusses the balance between classical value investing and modern challenges in the tech sector.
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Legacy of Middle East Banking
- Donald Zilkha's grandfather pioneered modern banking in the Middle East despite early hardships and political upheaval.
- His family built a banking empire that spread across the Middle East and then moved operations to the US after WWII dangers.
SPVs and Deal-by-Deal Challenges
- Donald applied his M&A and venture experience by creating single-deal SPVs backed by a few families.
- He learned the deal-by-deal approach didn't match public equity investing due to timing and investor decision delays.
Engage Management with Respect
- Engage management quietly and respectfully rather than public activism to build trust and foster cooperation.
- Provide deep external research and constructive advice to gain access and influence without hostile tactics.