We Study Billionaires - The Investor’s Podcast Network TIP264: Mastermind Discussion 3Q 2019 (Business Podcast)
Oct 13, 2019
In this discussion, Tobias Carlisle, a deep value investor and bestselling author, teams up with Hari Ramachandra, a Silicon Valley executive, to share insights on various stock picks. They assess intrinsic value for companies like AT&T and Stamps.com, arguing the latter may still be undervalued despite recent gains. The duo explores the case for shorting Vonage Holdings and draws parallels between Reliance Industries and Alibaba, painting a picture of the evolving tech landscape in India.
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Value vs. Growth in Different Interest Rate Environments
- Value stocks perform well when interest rates rise and poorly when they fall.
- Growth stocks, with back-end loaded earnings, benefit from lower interest rates.
Short Vonage
- Consider shorting Vonage ($VG) due to its declining consumer business and high valuation.
- The company's transition to business offerings is expensive and yields anemic returns.
Vonage's Disruption
- Vonage's consumer business faces disruption from WhatsApp and Skype due to cheaper data plans.
- Their voice-over-IP technology has become less appealing as data costs decrease.
