Value Hive Podcast

The Value Hive Podcast 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. This week we chat with Erick Mokaya. Erick is a Ph.D. student at the Stockholm School of Economics, lead author for Transcript, and a life-long learner. He loves studying businesses and finding companies in the Nordic and African markets. Our conversation starts with Erick's inspirational background, working harder than anyone else to get into the best schools. Erick got his work ethic from his mother. There are some great stories in there about her work ethic too.  From there, we dive into the opportunity set in Nordic countries, discuss the importance of Africa as the next investment frontier, and end with a few closing questions.  You can find the time-stamp below:  1:05 - Intro Questions & Why Erick Works So Hard 6:05 - From Kenya to Sweden 11:33 - Ted Lasso & Warren Buffett 17:25 - Working At Colossus 19:01 - Learning The Power of Inactivity 26:23 - Investing in Nordic Markets 37:26 - Where To Find Value in Nordic Markets 46:10 - Why You Need To Care About Africa 54:01 - Jumia (JMIA) 61:01 - Africa: The Fast-Growing Continent 64:09 - Closing Questions If you like what you heard and want to learn more about Erick, check out these links:  Erick's Twitter Erick's Website

This week we chat with Rihard Jarc, SaaS founder and author of the Uncover Alpha SubStack newsletter. Rihard has spent his life analyzing, investing, and creating software-based businesses. If you go by his Twitter bio, he's a growth investor, ex-portfolio manager, and CEO of TyplessAPI. Rihard's background makes him the perfect investor to dive deep into the Pinterest (PINS) bull thesis. PINS is one of Rihard's largest holdings and one he started buying for around $20. Our conversation dives deep into Rihard's bull pitch, the future of AR-based realities, and why PINS is just getting started with monetizing its audience. We also spend the early part of our conversation on Rihard's background before investing and what he thinks is his market edge over competitors. Here's the time-stamp: [0:00] Who is Rihard Jarc? [3:00] Rihard’s Start-Ups. [17:30] Qualities of a Fantastic Technology Business. [24:40] Major Red Flags of a Technology Company. [35:00] Assessing Early Customer Base in Businesses. [39:00] Pinterest [43:00] Pinterest’s Demographics, Behavior, and Growth [50:00] The Pinterest Experience [1:02:00] Pinterest Comparables [1:08:00] Augmented Reality [1:12:00] Pinterest’s ARPU [1:16:00] Valuing Pinterest [1:23:00] Pinterest Risks [1:27:00] Rihard Jarc's Watchlist [1:32:00] Closing Questions If you liked our conversation and want to learn more about Rihard Jarc, check out these links: Rihard's Twitter Uncover Alpha Newsletter The Value Hive Podcast 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.

The Value Hive Podcast 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. This week I chat with Tiho Brkan. Tiho is a private investor managing a family office. Tiho provides HNWIs & Family Offices with attractive deal flow from Real Estate (Rehab, Developments, Distressed) & Stock market (Indexes & Sectors) asset buckets. I'm stoked to bring you this conversation. Tiho is an incredible investor, thinker, and genuinely great human being. Listening to him talk you can feel the excitement he has for his craft. He's a devout student of history, which you'll learn as you listen. Our conversation runs the gambit and includes: How to find deals Lessons from the family business What it means to invest globally Why you should travel if you want to invest around the world The power of studying history Finding asymmetric and uncorrelated ideas And more! Here's the time-stamp: [4:10] Tiho's Early Life And Background [19:17] Asia's Exploding Middle Class [35:01] Tremendous Opportunity In Europe [51:02] Investment Idea: Litigation Finance [75:05] High Valuations & High Returns ... For How Long [93:42] 50%+ Returns in Luxury Real Estate [111:18] You Can Be Bearish & Long [116:13] Closing Questions If you enjoyed our conversation please leaving a rating and review! It helps spread the word about our podcast and helps us make it better.

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. Alex Barrow is the Co-Founder and Cheif Market Strategist at Macro-Ops.com. Alex joined the US Marine Corps on his 18th birthday just one month after the 9/11 terrorist attacks. He subsequently spent a decade in the military. Serving in various capacities from scout sniper to interrogator and counterintelligence specialist. Following his military service, he worked as a contract intelligence professional for a number of US agencies (from the DIA to FBI) with a focus on counterintelligence and terrorist financing. He also spent time consulting for a tech company that specialized in building analytic software for finance and intelligence analysis. After leaving the field of intelligence he went to work at a global macro hedge fund. He's been professionally involved in markets since 2005, has consulted with a number of the leading names in the hedge fund space, and now manages his own family office while running Macro Ops. He's published over 300 white papers on complex financial and macroeconomic topics, writes regularly about investment/market trends, and frequently speaks at conferences on trading and investing. This conversation spanned EVERYTHING from Alex's time at the Marines to his days as a bodyguard for Brittney Spears. We even managed to fit in some market discussions and our 2020 Macro Ops Portfolio Performance.  Here's the time-stamp:  [5:34] Cold Calling Jack Schwager [14:32] Working at Bridgewater [23:13] How Alex Became A Bodyguard For A Gem Dealer [33:13] Lessons Learned From Losing $100K+  [47:58] Transparency in The Newsletter Business [57:56] When Does Cloning Go Too Far?  [67:13] Alex's Biggest Errors of 2020 [78:56] Aligning Micro With Macro [80:04] What We Did Right & Wrong in The Portfolio [86:26] Closing Questions If you like what you heard, check us out over at Macro-Ops.com. And make sure to follow Alex on Twitter @MacroOps

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. Yaron Naymark is the founder and portfolio manager of 1 Main Capital. On his website, Yaron "makes concentrated investments in high-quality reasonably valued businesses with long reinvestment runways and in special situations that are experiencing a temporary dislocation or undergoing an element of change that will cause investors to revalue an investment in the near term." This week we dive deep into a few specific companies:  KKR RCI Hospitality (RICK)  Mastercraft (MCFT) Malibu Boating (MBUU)  We also discuss the two latest minority shareholder sagas penetrating the FinTwit universe:  Collectors Universe (CLCT) Enlabs, Inc. (NLAB) I also enjoyed our conversation on position sizing, risk management, and how to analyze errors of omission. Then we ended the podcast dreaming about having dinner with the one and only, Bill Gates.  Here's the time-stamp:  1:09 - Yaron’s Background 11:18 - Selling Too Early: Xpel, Inc. 27:07 - Robinhood/FinTwit Traders 37:43 - CLCT & NLAB Buyout Hysteria 51:42 - The RCI Bull Thesis 62: 51 - The Future of RICK 74:35 - Water Sports (MBUU, MCFT) 81:33 - COVID & Boating Thesis 86:37 - KKR Bull Thesis 98:19 - Closing Questions If you like Yaron's philosophy on investing and want to learn more, you can find more information here:  Yaron's Twitter 1 Main Capital Website

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. Lawrence Hamtil is a sixteen-year veteran of the financial services industry, having served clients in all aspects of the business during his career, which started in 2002. In 2005, he joined Dennis Wallace of Fortune Financial Services, LLC, becoming, at the time, one of Multi-Financial Securities, Inc’s youngest registered representatives. We spend our time discussing six industries ESG investors love to hate: tobacco, railroads, defense, waste disposal, airports and specialty chemicals. We also chat about virtue signaling, brand building, and weightlifting.  If you like what you hear, please give Lawrence a follow on Twitter @lhamtil.  Here's the time-stamp:  [0:00] Intro questions [12:35] Quality Tilt To Moat Businesses [21:22] Six Types of Durable Moat Industries [28:46] International Investing Approach [40:14] Railroads [49:11] Ark Invest's Bad Ideas Report [51:53] Get Rich Slowly  [64:09] Craft Breweries & Brand Disruption [75:32] Barbell Portfolio [81:18] Bitcoin & Speculative Investments

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. Michael Batnick is the author of Irrelevant Investor, Director of Research at Ritholz Wealth Management, and co-host of the Animal Spirits Podcast with Ben Carlson.  Michael is one of the most prolific finance thinkers on Twitter and often provides high-quality, comedic insight into myriad financial topics. I had a blast chatting with Michael and cannot wait to bring you our conversation. We start by discussing favorite finance/non-finance movies, while I reveal how little I've actually seen.  From there we dive into the craziness in the IPO and SPAC IPO markets and see where the Animal Spirits hide in the market. After that we discuss the ever-challenging topic of "when to sell". You're going to love Michael's answer to this by the way.  Finally we wrap up with Michael's thoughts on various investment strategies for beginners/amateurs and why its helpful to think of markets like golf.  Here's the time-stamp:  [0:00] The best movies [6:40] IPO Mania? [19:00] SPACs [30:00] When to Sell? [38:00] Investment Strategies for the Average Investor [49:00]More from Michael Batnick and Closing Questions If you want more Michael Batnick content, check out these links:  Michael's Twitter Animal Spirits Podcast Irrelevant Investor Blog

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

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

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!