The Compound and Friends The Joby bull case with Charles Lemonides, Roaring 2020’s with Ed Yardeni, Alphabet vs Nvidia
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Nov 26, 2025 
In this engaging discussion, Charles Lemonides, founder of ValueWorks, shares his insights on Joby and the future of flying cars. He highlights Joby's unique advantages in the eVTOL industry, including its quiet, fixed-wing design and strategic acquisition of Blade. Ed Yardeni, a renowned economist, presents his bullish outlook on the Roaring 2020s, emphasizing resilience through tech-driven productivity and potential S&P growth. The hosts also analyze market dynamics and dissect the performance of major stocks, making for an intriguing episode.
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Joby’s Real-World Lead
- Joby leads the eVTOL field because it has a flying prototype, revenue via Blade, and manufacturing partners in place.
- Charles Lemonides argues that noise, infrastructure, and manufacturing readiness give Joby a durable edge.
Buy What’s Built, Not Just Cheap Names
- Look for quality assets trading at discounts to invested capital, not just cheap struggling businesses.
- Charles Lemonides buys growth stories with significant cash and tangible build-to-date as margin-of-safety.
Seeing Joby Fly Won Skeptics
- At the Dubai Air Show Joby flew daily while many competitors only had models and stories.
- Seeing a silent Joby in the air convinced skeptics it could operate in cities.