Value Hive Podcast Q4 2025 Investor Audibles: Laughing Water Capital, Plural Investing, Kathmandu Capital
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Jan 23, 2026 This discussion dives into fascinating investment strategies from Laughing Water Capital, Plural Investing, and Kathmandu Capital. Hear insights on Lifecore’s market disconnect and NextNav's ambitious plans for terrestrial GPS. The hosts tackle the intriguing case of Watches of Switzerland and its role in Rolex retail economics. Additionally, Kathmandu provides a unique look at gold allocation amidst US-China tensions. Expect sharp critiques on holdings and a thought-provoking exploration of evolving investment philosophies!
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Focus On Cumulative, Not Annual, Returns
- Matt Sweeney argues one-year results tell little about skill versus luck in investing.
- He emphasizes cumulative returns and long-term compounding as the real performance metric.
Size, Growth, Momentum Drive Markets Now
- Sweeney notes markets currently reward size, growth, and momentum, often irrespective of business fundamentals.
- He views passive flows and winner-take dynamics as reinforcing large-cap outperformance.
Business Fundamentals Will Win Eventually
- Sweeney believes buying good businesses with temporary problems yields outsized returns if you don't overpay.
- He laments that factor-based markets often ignore company-specific improvements like new contracts or cleaned balance sheets.