Yet Another Value Podcast

Doug from Fabricated Knowledge on the Semis industry and his RMBS thesis

Jun 10, 2022

01:15:27

Creator website

Highlights

AI Chapters

Episode notes

Is It a Competitive Market?

02:54

Semi Conductors

03:09

Crypto Mining - Is Demand Going Down?

03:09

Introduction

4min

Semi Conductors Are Power in It

2min

Semi Conductor - What Are You Thinking About?

3min

How Do Semi Conductors Grow?

3min

Semi Conductors

3min

Semi Conductors, Where Do You Think Were in the Cycle Right Now?

2min

Semi Constructors - What's the Biggest Fear?

5min

Is There a Short Term Inventory Issue?

3min

What Mors Laws Is?

2min

10.

The Cost Relationship

4min

11.

Red Box, R D B X, the Ticker

2min

12.

Is There Fragility in the Supply Chain?

4min

13.

The Biggest and Most Fragile Part of the Supply Chain

3min

14.

The World Is a Scary Place

2min

15.

Crypto Mining - Is Demand Going Down?

3min

16.

I've Already Got My Wey

3min

17.

The Value Shock

2min

18.

The Dark Arts of Corporate Governance

4min

19.

C X L Unlocks Memory From the Cpu

3min

20.

The Datacentor Market

3min

21.

What Do You Think the Market Is Missing?

2min

22.

Is Free Cash Going to Go Down a Lot?

3min

23.

Why Aren't They Buying Back Shares?

3min

24.

Buying Rambus

2min

25.

Is This a Good Acquisition for a Company of This Size?

2min

26.

Is It a Competitive Market?

3min

27.

Compde Data Center Market

2min

28.

The Change of Control Is Not Really What I'm Betting On

2min

Doug Olaughlin, founder of fabricated knowledge, comes on the podcast to talk about the semiconductor space in general and then dive into his thesis on Rambus (RMBS) and why the market might be missing their big growth call option.

Fabricated knowledge website: https://www.fabricatedknowledge.com
Doug's RMBS thesis: https://www.fabricatedknowledge.com/p/a-pure-play-on-datacenter-memory?s=w

Chapters
0:00 Intro
3:00 Why semis are so compelling
4:10 What's driving the auto / semi shortage
6:55 What Doug's seeing in the semi world
11:30 Why generalists struggle with semis
15:15 Where are we in the semi-cycle right now?
21:30 Separating semi inventory issues from long term supply coming on
31:45 How fragile is the semi supply chain
39:40 Does a crypto winter impact semis?
44:40 Diving into RMBS
56:00 What Doug is seeing the market is missing
58:30 How sustainable is RMBS's FCF?
1:02:30 Why is insider ownership so awful here?
1:06:30 RMBS's acquisition program
1:08:05 Will RMBS really own CXL?
1:14:30 closing thoughts

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