This episode is brought to you by TIKR. Join the free beta today at TIKR.com/hive. They're constantly releasing new updates that make the platform better including a new Business Owner Mode that hides share count, market cap, and enterprise value. I couldn't be more excited to partner with TIKR. Shomik Ghosh is a principal at Boldstart VC by day and resident Enterprise Software savant by night. Shomik's job at Boldstart VC is to find and become Day One partners with passionate, technical Enterprise Founders. This means Shomik spends all his time thinking, analyzing, and valuing enterprise software businesses.  Our conversation dives deep into the world of Enterprise Software. More importantly, Shomik takes us on a journey through his slide deck "Framework For Evaluating Enterprise Software Companies". This is one of those podcasts you'll want to listen to twice. Shomik breaks down competitive advantages, favorite stacks within Enterprise Software, as well as rebuking common myths investors believe about the space.  Here are the show-notes:  [0:00] Who is Shomik? [6:00] The Importance of Founders [10:00] Differences between Investing in the Private Markets and Public Markets [16:00] 6 Steps for Evaluating Enterprise Software Companies. [20:00] What is Alignment of Cost Structures? [27:00] The Importance of Switching Costs [45:00] Distribution in Software Companies [53:00] Security as Enterprise Software [1:03:00] Exciting Areas in the Enterprise Software Industry [1:13:00] More from Shomik and Closing Questions If you like what you heard from Shomik, check him out on Twitter @shomikghosh21 --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Jamie Catherwood is a Client Portfolio Associate at O’Shaughnessy Asset Management. He’s also the founder of Investor Amnesia. Investor Amnesia is passionate about bringing the world of financial history to life. Jamie’s passion for history started at an early age, and in his eyes, is a family affair. His father loves history. And his uncle was a historian by trade. Jamie provides a weekly read for subscribers every Sunday filled with financial history literature, stories of human psychology and bubbles gone by. From reading Jamie’s content one thing is certain: markets change, humans dont. Our broad-ranging conversation dives into the history of railroad stocks, Cicero the value investor, and Jamie’s latest research course. Check out the time-stamp below: [0:00] Who is Jamie Catherwood? [18:00] The First Value Investor [25:00] History of Railroad Stocks [39:00] Are Tobacco and Energy Stocks the Railroad Stocks of Today? [40:00] Investing Across Different Countries and Time. [50:00] Investor Amnesia: Bubbles, Manias & Fraud [1:02:00] More from Jamie and Closing Questions If you liked what you heard and are interested in learning more about Jamie, check out these resources: Jamie’s Twitter Investor Amnesia Investor Amnesia Course --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

This episode is brought to you by TIKR. Join the free beta today at TIKR.com/hive. They're constantly releasing new updates that make the platform better including a new Business Owner Mode that hides share count, market cap and enterprise value. I couldn't be more excited to partner with TIKR. Packy McCormick is the founder and creator of The Not Boring Newsletter and Not Boring Syndicate. What started as a COVID side-hustle quickly spiraled into a full-time job and never-ending passion. After graduating from Duke, Packy went to work as an investment banking associate at Bank of America Merrill Lynch. From there he joined a start-up, Breather, and became VP of Experience.  Today Packy writes a weekly newsletter for thousands of technology investors, thinkers and entrepreneurs. And he's loving every bit of it.  I’m a huge fan of Packy’s writing and he’s quickly becoming one of my favorite reads on the internet. Our wide-ranging conversation dives deep into Packy’s writing and research process, how Packy creates new frameworks from old ideas, lessons learned from David Perrell’s writing course, emerging markets and his pitch on FEMSA. We end our conversation with Packy’s plans for the future of Not Boring, and which President he’d like to shoot hoops with. If you liked what you heard, please check out Packy at the following links:  Packy's Twitter Not Boring Newsletter Not Boring Syndicate Mainstreet.us I want to thank Packy again for coming on the show. I know we'll have him on again soon! --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

This episode is brought to you by TIKR. Join the free beta today at TIKR.com/hive. They're constantly releasing new updates that make the platform better including a new Business Owner Mode that hides share count, market cap and enterprise value. I couldn't be more excited to partner with TIKR. Brett Winton is the Head of Research at Ark Investment Management. Winton manages a team of analysts and helps forecast disruptive technologies. If that sounds like a hard job, it's because it is. And Brett will be the first to tell you that.  I learned so much from this conversation and I couldn't wait to share it with you.  Brett and I discuss all things innovative disruption, growth investing, venture capital and how Brett thinks about valuing these high growth names. We also touch on Tesla (TSLA) and what Ark went through when they released their open source valuation model on the company in 2018. We finished our chat discussing ways Brett's improved over the year and what he wants to improve on in 2021.  Here's the time-stamp of the podcast:  [2:42] Brett's Early Days Working With Cathy Wood [11:48] Forecasts and Embedded Price Expectations [24:23] Deep Value Investments in Technology  [40:35] Why You Need A Unique Perspective To Succeed [52:10] The Rapid Acceleration of Technological Improvement [1:01:23] Neural Networks [1:11:03] Closing Questions  If you liked what you heard from Brett, please give him a follow on Twitter @wintonARK. While you're at it, check out Ark Investment's website. They have a ton of great white-papers that make for excellent weekend reads.  Thanks again to Brett for coming on the show, you don't know how much it means to me and my listeners.  --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

This episode is brought to you by TIKR. Join the free beta today at TIKR.com/hive. They're constantly releasing new updates that make the platform better including a new Business Owner Mode that hides share count, market cap and enterprise value. I couldn't be more excited to partner with TIKR. Kris (@FromValue on Twitter) is the author of From Value To Growth premium research service on Seeking Alpha. Kris has grown his audience to >21K followers on Twitter and Seeking Alpha each. Kris' job is simple: he tries to find stocks that he can own for the next 10-20 years. Then he wants to hold them for the long-term. Some of his most recent winners include Shopify (up >1,000%), Livongo (up >400%) and Okta (up >200%).  Here's Kris' investment thesis from his Seeking Alpha page: "That means that I look for stocks that have either growth or value or combine the two. It has been proven that the group of dividend initiators and fastest dividend growers outperforms the markets by far in the long run. So I select stocks from this group, although I also select high growth non-dividend payers that I believe will grow out to great multibaggers." I loved this conversation as it got to the heart of why we invest: to create life-changing wealth through high risk-adjusted compound returns. Here's the time-stamp:  [0:00] Who is Kris? [10:00] Kris’ Investing Style [14:00] Potential Multi baggers [18:00] Portfolio Management [22:00] Kris’ Exclusive Metrics [30:00] Is Value Investing Market Timing? [35:00]  How to Cope with Drawdowns? [44:00] Multi Baggers can Change Lives [50:00] Conviction in your Investments [56:00] Beginners Mistakes [59:00] More from Kris and Closing Questions If you liked this conversation, check out some more @FromValue resources:  FromValue Twitter From Growth To Value Seeking Alpha --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

This episode is brought to you by TIKR. Join the free beta today at TIKR.com/hive. They're constantly releasing new updates that make the platform better including a new Business Owner Mode that hides share count, market cap and enterprise value. I couldn't be more excited to partner with TIKR. Stephen Clapham has one of the most decorated resumes of any guest I've interviewed. He's traveled Europe as an equity analyst. Worked his way up to partnership status at multiple multi-billion dollar hedge funds. And now he runs a website dedicated to training investment analysts in the art of reading financial statements.  Clapham's learned A LOT over his tenure as an investment analyst and coach and he joined the Hive to share his knowledge with us. Along with the podcast, Clapham just finished writing a new book: The Smart Money Method -- which listeners can get for $1.99 on Kindle by the end of this Sunday.  Our conversation spanned myriad topics including:  Working for a Tiger Cub Investing in IPOs How To Plan Your Day As An Investor How To Spot Frauds and more! I thoroughly enjoyed this conversation and look forward to chatting with Stephen again soon. Check out the time-stamp below:  [0:00] Who is Stephen Clapham? [12:00] Working for Hedge Funds? [20:00] IPOs [27:00] Writing a Book [33:00] Planning in the Stock Market [37:30] What is an Easy Idea? [41:30] Horrible Investments [47:06] Shady Accounting [58:00] From the Hedge Fund World to Training Analysts t[1:07:50] More from Stephen Clapham & Closing Questions If you liked listening and want to learn more about Stephen Clapham, check out these links:  Behind The Balance Sheet The Smart Money Method Stephen Clapham Twitter --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

This episode is brought to you by TIKR. Join the free beta today at TIKR.com/hive. They're constantly releasing new updates that make the platform better including a new Business Owner Mode that hides share count, market cap and enterprise value. I couldn't be more excited to partner with TIKR. There's a theory that the best and smartest analysts on Twitter are anonymous. Our guest this week fits that mold. Mule (@FoolAllTheTime) is a generalist investment analyst with a passion for the semiconductor industry. The conversation covers a wide range of semiconductor topics like Intel as a value trap, a better play than Micron (MU) and why Mule loves Discord.  You can easily tell the passion Mule has for the semis space and its various end-markets. Check out the time-stamp below:  [0:00] What got Mosfet Mule into Semiconductors? [4:00] Moore’s Law is Dead [8:00] Mosfet Mule’s Alpha [10:00] Discord [15:30] Heterogeneous Compute [22:00] CPU, GPU, FPGA, ASIC for AI? [27:30] NVIDIA and ARM [31:00] Google’s TPU [37:00] AI and First Move Advantage  [39:00] INTEL ($INTC) a Value Trap? [48:00] Lam Research ($LRCX)  [57:30] Common Questions about Semiconductors. [1:04:20] Where to find semiconductor ideas? [1:06:00] The CDT Hike [1:08:00] More about Mule [1:10:00] Closing Questions We can't wait to have Mule back on the show and are extremely humbled to host their first-ever podcast appearance.  If you liked this podcast and want to learn more about Mule, check out the following links:  @FoolAllTheTime Twitter Mule's Substack Newsletter --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

This episode is brought to you by TIKR. Join the free beta today at TIKR.com/hive. They're constantly releasing new updates that make the platform better including a new Business Owner Mode that hides share count, market cap and enterprise value. I couldn't be more excited to partner with TIKR. Richard Chu is an investment analyst at Saga Partners where he seeks to find high-growth, highly asymmetric investment opportunities. How Richard ended up at Saga Partners is anything but traditional. Chu didn't have much investing experience after graduating college. Yet his passion for compounding wealth and knowledge boiled over into his first public investment write-up: Livongo (now, TDOC).  Richard's first write-up caught the eyes of Joe Frankenfield at Saga Partners. This led to a conversation and eventual job for Chu at the firm. Now, Richard spends his time scouring the markets for new ideas.  I loved this conversation as we covered a lot of ground. Our focus was on a few key topics:  GoHealth (GOCO) GoodRx (GDRX) Healthcare Investing UnHealthcare (Book) Here's the time-stamp:  [0:00] Who is Richard Chu? [10:30] Why Healthcare? [13:40] The Journey to Zero to One in Finance [16:50] What is it like working for Saga Partners? [19:40] Go Health ($GOCO) [38:40] Go Health’s Competitors: Walmart [48:40] Go Health’s Valuation [1:02:00] Richard’s Next Ideas [1:13:50] A Day in The Life of Richard Chu [1:16:00] Closing Questions If you'd like to learn more about Richard, check out these links:  Richard's Twitter Richard's Substack Newsletter --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

This episode is brought to you by TIKR. Join the free beta today at TIKR.com/hive. They're constantly releasing new updates that make the platform better including a new Business Owner Mode that hides share count, market cap and enterprise value. I couldn't be more excited to partner with TIKR. Christopher Seifel is an equity research analyst and runs the newsletter Seifel Capital (link here). Chris is one of the sharpest investors/analysts on Twitter, and it shows. He's quickly grown his Twitter following to over 13K. Chris focuses on high growth companies, portfolio construction and general market commentary. His newsletter articles feature deep dives on new and interesting companies while distilling the thesis down into the 1-3 most important drivers. It's a tremendous skill and something I'm constantly working on.  We spend over an hour discussing Crowdstrike $CRWD (Chris' largest holding), Unity Technology $U (disc: I am a shareholder), the CANSLIM method and how to do deep work analysis on an investment. This is one of those episodes you'll have to hear twice.  Here's the time-stamp for the conversation:  [0:00] Who is Chris Seifel? [3:00] Life’s Inflection Points [6:40]  Growth Investing [10:30] Technicals and Value Investing [14:00] Risk and Portfolio Management [22:00] The Five Rules [36:00] Deep Diving into a Stock [40:00] Generalist vs Specialist [43:00] Crowdstrike ($CRWD) [58:40] BAIT Framework [1:04:00] Crowdstrike’s Risks [1:12:00] DCF: What discount rate to use? [1:14:00]  Chris’ Newsletter [1:31:00] Closing Questions If you want to learn more about Chris and his newsletter, check out the following links:  Chris Seifel Substack Chris Seifel Twitter As always, big thanks to Chris for coming on the show! I already know we'll have him back on in the future. And thanks again to you, the listener for taking the time out of your day to learn alongside us. We can't thank you enough. If you like what we're doing, please leave a rating and review on Apple Podcasts. It helps get the word out about what we're doing here.  ***Disclaimer: Nothing you hear on this podcast is in any way, shape or form to be construed as investment advice. The guest on this podcast may hold positions in any/all names mentioned during the podcast. This is not investment advice and investors should always conduct personal due diligence before investing in any security. Past performance of any funds mentioned are not indicative of future returns.** --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

This episode is brought to you by TIKR. Join the free beta today at TIKR.com/hive. They're constantly releasing new updates that make the platform better including a new Business Owner Mode that hides share count, market cap and enterprise value. I couldn't be more excited to partner with TIKR. Will Thrower is one of the most under-followed investors on Twitter. In fact, his Twitter profile is like the companies he hunts for: undervalued with long runways for growth. Our conversation took us from chicken farms in China to equity trading offices in London. How Will got started in markets is such a fascinating story. It was one blog post, picked up by Bloomberg, that led to a job as an equity analyst.  We spend over an hour discussing how Will finds ideas, the opportunity set in Japan and Australia, and why US investors should think twice before passing over an International business because, "A US competitor can do the same thing." Here's the time-stamp for our chat:  [0:00] The Chicken Farm [5:30] What led you to become an equity researcher? [20:30] The Beenos Thesis (3328.T) [33:20] Questions that You Want Management to Answer. [35:20] An Ideal Investment [40:40] Nano Cap Investments and Competitive Advantages  [54:00] Positioning Sizing [1:01:10] Advance Nano Tek (ASX: $ANO) [1:16:00] More from Will Thrower [1:19:22] Closing Questions If you enjoyed our conversation and want to learn more about Will, check out the following resources:  Will's Twitter  Will's Personal Investment Blog ***Disclaimer: Nothing you hear on this podcast is in any way, shape or form to be construed as investment advice. The guest on this podcast may hold positions in any/all names mentioned during the podcast. This is not investment advice and investors should always conduct personal due diligence before investing in any security. Past performance of any funds mentioned are not indicative of future returns.** --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support