We Study Billionaires - The Investor’s Podcast Network TIP475: Mastermind Q3 2022 w/ Tobias Carlisle
Sep 11, 2022
Tobias Carlisle, a renowned value investor and host of The Acquirer's Podcast, shares insights on compelling stock opportunities. He discusses his bullish stance on First American Financial and North Media A/S, emphasizing the latter's shift from traditional to digital services. The conversation highlights investment strategies, market behaviors, and the implications of bear market patterns, offering listeners a practical understanding of navigating economic fluctuations and recognizing undervalued stocks.
AI Snips
Chapters
Books
Transcript
Episode notes
Stig's First Job
- Stig Brodersen got his first job as a paperboy for North Media, a Danish company.
- He's had the company on his watchlist for three years, highlighting his long-standing familiarity with it.
North Media's Structure
- North Media is a small-cap company with a market cap of around $200 million, viewed as a "cigar butt" investment.
- It's structured with three distinct components: a declining legacy business, a growing tech business, and a securities portfolio.
Equity Portfolio Rationale
- North Media's equity portfolio, managed by the 82-year-old founder, is about 40% of the market cap.
- This structure might be due to tax advantages and the founder's preference.
