Value Hive Podcast

Hey guys! This week we have Nicholas E. Radice on the podcast. Nicholas is a distressed and real asset investor with a unique approach to markets. Nicholas is from Upstate NY and got his start in distressed investing after growing up in the midst of a manufacturing collapse in his hometown. After graduating from Cornell University, Nicholas worked under famous distressed investor Ian Cumming, before starting his own private investment holding company, backed by Peter Thiel.  This podcast dives into Nicholas's unique investment approach as he combines lessons from Cumming and Thiel into the forgotten corners of the markets like microcaps, dark stocks, and real asset plays.  If you enjoyed this conversation, make sure to follow Nicholas on Twitter @NICKRADICAL4.  Here's a time-stamp of our discussion:  [0:00] Introduction  [6:00] Reducing Complexity  [9:02] Finding What Matters Most [16:15] Defining Circle of Competence [28:00] Short Term Skeptic, Long Term Optimist [35:00] Lessons from Ian Cumming & Peter Thiel [60:00] Discarding Ideas Quickly [72:00] Dark Stocks, OTC Stocks, and Microcap Ideas [74:23] Mistakes of Omission  [80:05] 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

This week we have the one and only Peter Mantas of Logos LP. This episode is the second time we solely focused on life sciences and the Biotech space. Peter explains how much the biotech and life sciences industry has change since the last time we spoke all the way back in February. He explains why Big Pharma might have a golden age, how to value the pipeline for some pharmaceuticals companies, gaging probabilities, what is bioprocessing, who are the C players and more! [0:00] What has changed since February? [10:30] The Golden Age of Big Pharma [18:00] The possible next big Pharma player [25:00] How to value the pipeline? [30:00] Gaging Probabilities [33:00] Strong Barriers to Entry [43:00] Who are the C players? [49:00] Management Teams [52:00] What is Bioprocessing? [1:09:00] LLY’s Relative Strength [1:16:00]Twitter Questions If you enjoyed this episode, go follow Peter on Twitter @Logos_LP. 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 stoked to have Mike aka @TheRealEstateG6 on the podcast.  Our conversation focuses on all things real estate investing.  He shared with us how he got into Real Estate and his his Real Estate career, what he thinks about Arbnb renting as a business, the most common mistakes that retail investors do, his best and worts investments and how he levered his knowledge on private Real Estate and create his own Real Estate Investing Fund.  So if you are interested in Real Estate investing definitely tune in! I consider this a "Zero To One" course on Real Estate Investing.  Check out the time stamp below: [0:00] Who is the Real Estate God? [6:19] Why not invest in hospitality real estate? [9:00] Best Investments & Worst Investments [18:00] Mortgage Rates and Real Estate [23:00] What are small deals in Real Estate? [28:00] Idea sourcing and Valuations [36:50] Common Mistakes [40:00] More from Real Estate God and Closing Questions If you like what you heard, go follow Mike on Twitter @TheRealEstateG6.  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.

In this conversation, Samer Hakoura, Founder of Alphyn Capital and experienced investor, shares his insights on Ashtead Group, exploring its competitive advantages and growth potential. He recounts his unique journey from managing a Caribbean supermarket to navigating public markets. Listeners gain valuable perspectives on unit economics, the impact of debt, and the dynamics between Ashtead and its competitor, United Rentals. Samer's reflections on investment strategies and the importance of due diligence offer a compelling overview for aspiring investors.

Today’s episode we had a conversation with Robert Brooks, Founder of Brick by Brick Capital. We covered everything that an investor needs to know about Ceco Environmental ($CECO), whether it is Ceco’s history, what is their business, Ceco’s Competitive advantages, its unit economic, value and why they still have future margin expansion and revenue growth. Plus, Robert shares his investment journey and what could possible go wrong with his Ceco Investment. Check out the time stamp below: [0:00] Who is Robert Brooks? [5:30] Brick by Brick Investing Strategy [10:40] Ceco Environmental ($CECO) [14:00] Ceco’s Old Management [17:00] Ceco’s Customer Base [25:00] Ceco’s Unit Economics [30:20] Ceco’s New Management [37:00] What could go wrong? [41:00] Ceco’s Tailwinds [52:00] Ceco’s Price Target [55:00] Closing Questions and More from Robert If you enjoyed the podcast, make sure to follow Rob on Twitter at @BrickByBrickCap.  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 invite Mr. Neutral Man from Twitter back on the Value Hive podcast with our Twitter Spaces Q&A recorded in late October. Mr. Neutral dives deep into his latest fat pitch idea: Howard Hughes $HHC. 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! 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: Nordstern Capital  Praetorian Capital  Maran Capital  Please let me know what other letters you'd want to hear on future Investor Audible series episodes! Also, here are some of the links mentioned in the podcast:  Value Hive Podcast w/ David Kaye 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.

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.