Artem Fokin

In this engaging discussion, Artem Fokin, a prominent figure from Caro-Kann and a seasoned investor, delves into the art of refining investment strategies. He shares insights on the evolving role of AI in research, highlighting its potential to transform market efficiency. Artem and host Andrew Walker debate the significance of long-term process improvements and the dangers of groupthink in investing. Their conversation underscores the importance of independent thought and the growing accessibility of research tools, essential for navigating the complexities of today’s market.

In this discussion, Artem Fokin, Head of Caro-Kann Capital and a specialist in research workflows, reveals how AI and expert call libraries are transforming investment strategies. He shares insights on integrating AlphaSense’s latest tools into the research process. The conversation highlights the benefits of expert calls, best practices for sourcing participants, and the challenges of bias. Artem also details how AI enhances efficiency through transcript filtering and data analysis, showcasing the profound impact of technology on modern investing.

Artem Fokin, a leading figure at Caro-Kann Capital, discusses investment 'superpowers,' the unique advantages investors can leverage. He delves into sell discipline, explaining when to exit a position based on broken theses, and the psychological resilience required to navigate market volatility. The conversation also highlights the importance of evaluating management teams and the dynamics between microcap versus large-cap investments, providing practical insights for maintaining focus and composure in uncertain times.

Artem Fokin revisits Burford's YPF ruling, discussing validation of the business, risks and appeals, estimated proceeds, cash flow, and asset recovery. Insights on Argentina's options, capital plans, monetizing stakes, and shareholder returns are explored. Legal intricacies, financial analysis, and international dynamics surrounding the case are dissected, emphasizing implications for the company's valuation and potential strategies for maximizing returns.

Artem Fokin, Portfolio Manager at Caro-Kann Capital LLC, discusses Burford winning the YPF case and the fundamental thesis post-trial. Topics include enforcement and collection efforts, timing of enforcement and potential settlement payouts, tax implications, $BUR core business, $BUR asset management business model, $BUR valuation without YPF included, and ROE on the core business on a per share basis.