Jim Royal, Author of 'Zen of Thrift Conversions', provides the basics of 'Thrift Conversions' in this podcast. He discusses the safety and management incentives associated with these conversions. Jim also explains how investors can participate in IPOs of thrift conversions and explores the current banking environment. He highlights the characteristics of poor conversions and the importance of investor activism. Additionally, he shares three interesting de-mutualizations to look at. Overall, this podcast offers valuable insights into the world of thrift conversions and their potential benefits for investors.