Making Markets

Evan Tindell: Value Investing in 2025 - [Making Markets, EP.57]

9 snips
Mar 28, 2025
Evan Tindell, co-founder and CIO of Bireme Capital, has made waves with his classic value investing strategy, yielding over 19% annualized returns since 2016. In this engaging chat, he discusses his journey from poker player to investor, the cyclical nature of value investing, and the complexities of shorting meme stocks. Tindell shares insights on Japan's corporate governance changes, the impact of major tech on investment trends, and how he's using AI tools to enhance research strategies. Tune in for a wealth of investment wisdom!
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INSIGHT

Value Investing's Cyclical Nature

  • Value investing is cyclical, with periods of outperformance and underperformance.
  • Remember this during challenging times, as seemingly “broken” markets create the best opportunities.
ANECDOTE

Shorting Challenges in 2024

  • In 2024, Evan Tindell's fund lost money on short positions in MicroStrategy, Digital World Acquisition Corp (DWAC), and GameStop.
  • These losses stemmed from the difficulty of shorting meme stocks driven by retail speculation, despite their lack of viable business models.
ADVICE

Shorting Strategy

  • When shorting worthless companies, wait for a price surge before entering.
  • Consider borrow fees and diversify your short book to manage risk.
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