Value Hive Podcast

Please enjoy my podcast with Scott Willis, Portfolio Manager of the Grizzle ETF ($GRZZ). We covered everything that an investor needs to know about investing in energy companies, whether it is the most common mistakes done while valuing energy stock, where are we in the energy cycle, why ESG is a briefcase full of money for energy stocks, Russia and OPEC and what is the Cost Curve Explainer. [0:00] Most common mistakes done while valuing energy stocks? [8:00] Where are we on the energy cycle? [14:00] ESG = Briefcase Full of Money [18:00] Russia and OPEC [26:00] The Cost Curve Explainer [34:00] Plateau, Recovering, Expansion [41:00] Scott Willis Energy Watchlist [48:00] What is the Grizzle ETF (GRZZ)? [49:00] More from Scott and Closing Questions If you enjoyed this episode, follow Scott on Twitter (here) and check out his Grizzle ETF here.  Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive.

This week we're continuing our Investor Audibles series with three Q3 2022 letters from the following investors/funds: Third Point Capital (02:00 - 24:00) Ensemble Capital (25:00 - 46:00) Greenlight Capital (47:00 - 65:00) Please let me know what other letters you'd want to hear on future Investor Audible series episodes! Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive.

Today’s episode we had a conversation with Jeremy Kokemar, Founder of Right Tail Capital. We covered everything that an investor needs to know about Ferguson ($FERG), whether it is Ferguson’s history, what is their business, Ferguson’s Competitive advantages, its unit economic, value chain and why they still have future margin expansion and revenue growth. Plus, Jeremy shares his investment journey and what could possible go wrong with his Ferguson Investment. [0:00] Who is Jeremy Kokemar and what is Right Tail Capital? [8:30] Buying an Asset at any Price. [14:50] Finding Ferguson ($FERG) [17:40] Procuring a Watchlist [20:00] Ferguson’s ($FERG) History [21:00] Value Chain [24:30] Unit Economics [28:00] Ferguson’s Customers [31:30] Ferguson’s Competitors [35:00] Ferguson’s Profitability and Revenue Growth? [41:00] What happens to Ferguson in a Housing Recession? [48:00] $FERG added to the S&P 500? [51:00] More from Jeremy and Closing Questions If you like what you heard, make sure to follow Jeremy on Twitter here.  Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive.

Hey Guys! Continuing our theme of interviewing anonymous accounts, this week’s guest is @Mr_Neutral_Man. Our conversation focus on Real Estate investing in the Public Markets. He shared with us what are his dream investments, crazy stories about doing on the ground research, what was like to live and invest during the GFC, what is his hedging protocol, why inflation will be more persistent and why we might never see mortgage rates sub 3%. Check out the time stamp below:  [0:00] Mr. Neutral Investment Thesis. [8:00] Housing for the Retail Investor. [13:00] Mortgage Rates: The Three Cap. [19:00] Doing on the Ground Research. [30:00] Living and Investing through the GFC. [47:00] The Fixed Income Collapse [58:00] Investing in Corporate Debt [1:10:00] Mr. Neutral’s hedging protocol. [1:37:00] Inflation will be more persistent. [1:46:00] More from Mr. Neutral and Closing Questions Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive.

Hey Guys! This week our guest is Leandro, he is the lead contributor at Best Anchor Stocks. This episode was all about Leandro investing process and journey. He shared some of his investment ideas featured at Best Anchor Stocks such as Five Below ($FIVE), Topicus ($TOI) and Texas Instruments ($TXN). He gave us context on their specific industry, their competitive advantage, and the management team. [0:00] What happens to Five Below ($FIVE) in a recession or in an inflationary environment? [4:50] Possible pitfalls for Five Below [7:25] Adobe buying Figma: Eliminating a Threat [14:00] The Inception of Best Anchor Stocks [17:00] Important Lessons Learned [18:00] Leandro’s Investment Process: Vetting the Management Team [27:00] Finding the Things that Matter on an Investment [33:00] Topicus ($TOi) [44:00] Texas Instruments ($TXN) [57:00] Luxury Brands [1:02:00] Finding Ideas [1:04:00] Sharing Ideas Publicly [1:08:00] More from Leandro and Closing Questions Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Quartr Quartr is revolutionizing the way investors interact with IR departments, listen to conference calls, and engage in investment research. The best way to think of Quartr is like Spotify for investor conference calls. Quartr is 100% free and includes markets from 12+ countries (with plans to expand in the future!). Investors can easily request new companies, and Quartr is quick to add them. You can learn more about Quartr by visiting their site, Quartr.se If you're interested in changing the way you research companies, download the app today and give it a try on Apple and Android. Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive.

This weeks guest is Sean Emory from Avory & Co. This week we dove deep into the weeds on Fiverr. We compared it to Upwork, we talked about how to valuate it, the unit economics of the business, and whether Fiverr has a moat. Plus, Sean shared with us his investing journey. Why he invest in structural growth and transformation and he shared a couple of his transformation bets that are in his portfolio. [0:00] Investing in Structural Growth and Transformation [8:20] Data tells our Stories [11:40] Sean’s Investing Journey [15:30] What is Fiverr? [20:20] Fiverr’s Unit Economics? [26:00] Does Fiverr have a Moat? [34:00] Fiverr’s Valuation [45:00] Why invest in Upwork? [51:00] Differences between Upwork and Fiverr? [59:40] Transformation Bets [1:05:00] More from and Closing Questions Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Quartr Quartr is revolutionizing the way investors interact with IR departments, listen to conference calls, and engage in investment research. The best way to think of Quartr is like Spotify for investor conference calls. Quartr is 100% free and includes markets from 12+ countries (with plans to expand in the future!). Investors can easily request new companies, and Quartr is quick to add them. You can learn more about Quartr by visiting their site, Quartr.se If you're interested in changing the way you research companies, download the app today and give it a try on Apple and Android. Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive.

This week our guest is Taylor Pearson, Principal of Mutiny Fund, author of the book End of Jobs and the Interesting Times Newsletter. Our conversation is a summary of Taylor’s amazing blog posts such as: What is ergodicity, the Sand Pile Effect, Maginot Line, and Attractor Landscapes. He also tells us his investing journey and the origin story of the Cockroach Portfolio. [0:00] Who is Taylor Pearson [3:30] The Cockroach Portfolio [6:00] Ray Dalio’s All Weather Portfolio [11:00] Nassim Taleb’s Black Swan [13:30] What is Ergodicity? [18:00] The Ergodicity Problem in Economics [21:00] Sand Pile Effect: Stability breeds Instability [31:00] The White Moose Problem [33:00] Maginot Line: Soldiers are Prepared to Fight the Last War [43:00] The Beer Game [47:00] Attractor Landscapes [56:00] Driven by Compression Processing [1:02:00] More from Taylor and Closing Questions If you like what you heard, make sure to follow Taylor on Twitter @TaylorPearsonME Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Quartr Quartr is revolutionizing the way investors interact with IR departments, listen to conference calls, and engage in investment research. The best way to think of Quartr is like Spotify for investor conference calls. Quartr is 100% free and includes markets from 12+ countries (with plans to expand in the future!). Investors can easily request new companies, and Quartr is quick to add them. You can learn more about Quartr by visiting their site, Quartr.se If you're interested in changing the way you research companies, download the app today and give it a try on Apple and Android. Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive.

I'm thrilled to bring you my podcast with Brom Rector, founder of Empath VC. Empath is a VC fund investing in early-stage psychedelic companies all across the value chain. We're talking from drug therapeutics to picks and shovels delivery. You can learn more about Brom's fund here.  Brom spends an hour diving deep into the psychedelics business. We discuss every part of the value chain from growth (via ground for mushrooms or lab for LSD/MDMA) all the way to final drug delivery.  If you're looking for a Crash Course on the Business of Psychedelics, you found it. And if you liked listening to Brom, check him out on Twitter @therealbrom.  Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Quartr Quartr is revolutionizing the way investors interact with IR departments, listen to conference calls, and engage in investment research. The best way to think of Quartr is like Spotify for investor conference calls. Quartr is 100% free and includes markets from 12+ countries (with plans to expand in the future!). Investors can easily request new companies, and Quartr is quick to add them. You can learn more about Quartr by visiting their site, Quartr.se If you're interested in changing the way you research companies, download the app today and give it a try on Apple and Android. Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive.

This week we invite Doomberg back on the Value Hive podcast with our Twitter Spaces Q&A recorded August 30. Doomberg chats all things creative process, writing online, creating an online publishing business, the energy markets, political anti-logic, and more.  I hope you enjoy this Twitter Spaces recording. Please let me know who else you'd want me to interview in Q&A fashion. I love these episodes because it gives me a chance to step back and let the audience ask all the questions.  Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Quartr Quartr is revolutionizing the way investors interact with IR departments, listen to conference calls, and engage in investment research. The best way to think of Quartr is like Spotify for investor conference calls. Quartr is 100% free and includes markets from 12+ countries (with plans to expand in the future!). Investors can easily request new companies, and Quartr is quick to add them. You can learn more about Quartr by visiting their site, Quartr.com If you're interested in changing the way you research companies, download the app today and give it a try on Apple and Android. Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive.

This week we're continuing our Investor Audibles series with three Q1 2022 letters from the following investors/funds: Maran Capital (03:00 - 16:13) 1 Main Capital (16:14 - 27:40) Steel City LP (27:41 - 43:06) Bonsai Partners (43:07 - 62:10) Please let me know what other letters you'd want to hear on future Investor Audible series episodes! Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Quartr Quartr is revolutionizing the way investors interact with IR departments, listen to conference calls, and engage in investment research. The best way to think of Quartr is like Spotify for investor conference calls. Quartr is 100% free and includes markets from 12+ countries (with plans to expand in the future!). Investors can easily request new companies, and Quartr is quick to add them. You can learn more about Quartr by visiting their site, Quartr.se If you're interested in changing the way you research companies, download the app today and give it a try on Apple and Android. Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive.