Yet Another Value Podcast
Cliff Sosin from CAS on Carvana and a bunch of other stuff $CVNA
May 8, 2025
Cliff Sosin of CAS Investment Partners, known for his focused long-term investment style, returns for a compelling discussion. He delves into Carvana's distinctive lending model and the intricacies of subprime finance, revealing misconceptions and opportunities in this sector. The conversation also highlights the impact of alternative data on investment decisions and explores Carvana's operational resilience amidst market challenges. Additionally, Cliff tackles the future of used cars in the age of self-driving technology, making a case for why the traditional ownership model might endure.
01:24:30
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Quick takeaways
- Cliff Sosin emphasizes the intricacies of Carvana's lending model, highlighting its unique balance between prime and subprime lending markets.
- He advocates for understanding market dynamics and leveraging alternative data to identify mispriced opportunities in subprime finance.
Deep dives
Return of Cliff Sosen
Cliff Sosen makes a second appearance on the podcast, discussing his insights on investing, particularly focusing on Carvana. He shares that the interaction was motivated by nostalgia and the desire to explore the evolution of Carvana's narrative over the years. Cliff emphasizes the importance of maintaining friendships in the investment community, which foster valuable discussions and idea exchange. The conversation showcases a blend of personal rapport and deep dives into investment perspectives that have developed over their shared history.
