Value Hive Podcast

Welcome back Harris Kupperman! This is the second time Kuppy is on the Value Hive Podcast. This time around we talked about different event-driven strategies found on his Kuppy’s Event Driven Monitor (KEDM) such as investing in post-bankruptcy stocks and IPO unlocks ($AFRM), what is like managing an event-driven portfolio and at the end of the episode, he answered some of the questions from the Twitter community! This episode is brought to you by BullpenCareers.com. BullpenCareers.com is a job board exclusively for finance jobs. If you or someone you know is looking for a job in finance, check out BullpenCareers.com today! Here is the time stamp: [0:00] Intro [1:30] What is the IPO Unlocks Arbitrage Trade. [5:40] IPO Unlocks: $AFRM [11:00] Kuppy’s Event Driven Monitor (KEDM) [16:00] Event Driven Strategies: Post-Bankruptcy [23:00] Managing an Event Driven Portfolios [33:00] $POWW [35:00] Bitcoin [43:00] Michael Burry’s Portfolio [46:00] Tankers Bull Thesis ($STNG) [50:00] Inflection Point Investing [52:00] Twitter Q&A [52:00] How to use the KEDM as a noob investor? [54:00] Uranium Equities? [1:00:00] Playboy [1:03:00] Why is $JOE not moving? [1:04:00] Kuppy’s Future If you liked what you heard and want to learn more about Kuppy, follow him on Twitter here. You can also check out his website AdventuresInCapitalism.com, and for qualified investors, his fund Praetorian Capital.

Let’s talk about the 4.2% elephant in the room, that’s right! This week is all about inflation and luckily we had the privilege to talk to James Davolos, Portfolio Manager at Horizon Kinetics, to help us understand inflation at a deep level.  We talked about what is the CPI and how it is measured, the effect that inflation has on risk assets, what is duration on risk assets, how not to hedge against inflation, but most importantly he shared how we can effectively hedge against inflation by investing in companies that are Direct Beneficiaries, Indirect Beneficiaries or Opportunistic Beneficiaries of Inflation, which are exactly the types of companies that you can find on Horizon Kinetics’ Inflation Beneficiary ETF ($INFL). This episode is brought to you by BullpenCareers.com. BullpenCareers.com is a job board exclusively for finance jobs. If you or someone you know is looking for a job in finance, check out BullpenCareers.com today! [0:00] Who is James Davolos?  [3:44] What is the CPI and How is it Measured?  [8:15] Fiat Currencies Always Go to Zero  [10:30] Modern Monetary Theory [14:20] What Inflation Means to Risk Assets [15:00] What is Duration on a Risk Assets? [20:00] The Inflationary Beneficiary ETF [21:00] What are Hard Assets?  [23:00] Direct Beneficiaries, Indirect Beneficiaries, Opportunistic Beneficiaries of Inflation   [32:00] TIPS: The Biggest Misconception Regarding Inflation Hedging. [35:00] Cryptocurrency  [37:00] Western Ideology vs Eastern Ideology for Gold [40:00] Texas Pacific Land Corp ($TPL ) [42:00] Exchanges The Ultimate Indirect Beneficiaries of Inflation: London Stock Exchange ($LSEG), Honk Kong Stock Exchange ($388), Singapore Exchange ($SGXR) [50:00] How not to Hedge Against Inflation [53:00] Closing Questions and More from James Davolos If you want to learn more about Horizon Kinetics, check them out on Twitter and their website. 

Michael Fritzell is a Swedish Investor based in Singapore and the owner of the Asian Century Stocks Newsletter.  During our talk Fritz shares the path that took him to live in Beijing, the cultural differences that he noticed while living there, the geopolitical issues between China and Taiwan, and of course his investing experience as a Swedish investor in the Asian equities market, including:  Diligence for Asian companies The role of the Chinese Government inside companies Some misconceptions that investors have about investing in China Why he is bullish on Delfi ($P34), China Unicom ($762) and Sanrio Company ($8126). Here is the time-stamp:  [0:00] Who is Fritz? [4:00] Learning Chinese in Beijing [7:00] Major differences between living in Sweden and China. [11:00] Being a Buy Side Analyst Based in Shanghai  [13:00] The Chinese Government’s Role Inside Companies  [21:00] Chinese State Owned Enterprises [24:00] The Chinese Invasion Threat [25:00] The CCP wants to invade Taiwan before 2049 [34:00] Delfi ($P34) [44:00] China Unicom ($762) [52:00] Sanrio Company ($8136)  [1:01:00] Misconceptions about investing in China. [1:08:00] Closing Questions and More from Fritz If you want to learn more about Fritz, shoot him a follow on Twitter and subscribe to his Substack Newsletter!

Myles Danielsen joins the Hive this week to chat all things Institutional Investment Allocation. According to his firm's website, Myles is a Principal at Hall Capital Partners LLC in the Public Equity group, responsible for research, identification, due diligence, and monitoring of long-only public equity investments and long-short equity hedge funds. In addition to his core role in public equities, he is a key member of the Cross Asset Research & Strategy team. Myles spends an hour and a half dissecting the institutional investment business, giving us an inside look at where allocators invest, why they choose one firm over another, and where they see opportunities ahead.  This podcast is a MUST LISTEN for new/emerging fund managers who want to learn what it takes to get a check from an institutional allocator.  We discuss a wide range of topics, including:  Emerging market investing Why Institutional investing is a black box Personality and its role as a deal-breaker/maker Why track record isn't the only thing that matters Crypto investing  Japanese Mother's Market If you want to learn more about Myles, check him out on Twitter! You can also reach him at his firm's website, Hall Capital. 

This week I chat with Kyler Hasson, investment manager and founder of ConcentratedCapital.com. Kyler loves buying great businesses that can compound invested capital over long periods of time. In other words, he's a Compounder Bro. Kyler didn't follow the "normal" investor path, if there is one.  He started dabbling in investing at age 18 and was immediately hooked on quality investing. Hasson skipped much of the cigar-butt stage and instead spent his time learning about the best businesses possible, and trying to hold them for long periods of time.  Our conversation covered a wide breadth of topics, including:  Competitive advantages and churn rates in banking Quality and Valuation  Portfolio Allocation Psychology of managing other people's money  And more! Here is the show time-stamp:  1:00 - Intro 9:11 - TransDigm $TDG 20:44 - Portfolio Construction  28:05 - Underwriting Returns 36:59 - Banking and Competitive Advantages 43:04 - Holding Only The Best Ideas 49:58 - Managing Other People's Money  58:24 - When To Give People Their Money Back 65:51 - Where Kyler's Finding Ideas  75:06 - Closing Questions If you want to learn more about Kyler, check out these resources:  Concentrated Compounding Website Twitter

Kelvin Seetoh (aka @SlingshotCap on Twitter) joins the Hive this week to chat about all things emerging moats, $ORGS, and the importance of staying young in investing.  I recorded this episode at 9:00 PM my time (EST), so big thanks to Kelvin for showing up with his A-game at 9 AM sharp Singapore time! If you like what you heard from Kelvin, make sure to follow him on Twitter @SlingShotCap.  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. We're also excited to announce our newest sponsor, Eight Sleep! Eight Sleep makes products that improve your sleep through personalized temperature, smarter data, and patented technology. There is truly nothing like Eight Sleep on the market. With Eight Sleep, you can see exactly how well you sleep, how often you toss and turn, resting/variable heart rate, and more! The technology is unlike anything you've seen from a mattress company. Try an Eight Sleep mattress yourself! Use the code HIVE to get $100 off your mattress purchase!

This week we chat with Rob Mahan. Rob's a part-time investor and founder of DeepValueInvestments.wordpress.com. Rob's blog is dedicated to finding massively discounted stocks from every part of the world. His findings take him through Eastern Europe, Asia, and all across the market cap spectrum.  Rob is a traditional deep value investor. He seeks businesses trading <6x earnings with double digit yields. To him, anything over 10x earnings is expensive. So far his strategy has worked. Since 2008, Rob has generated a 20% CAGR, crushing any All World Index.  We spent an hour discussing:  How Rob started investing Rob's current investment strategy  Where he finds ideas How Rob screens for companies War stories from investing in emerging markets Investing in Chinese banana company frauds Searching the world for deep value If you like what you heard, give Rob a follow @DeepValueInvestments. Make sure to subscribe to his website DeepValueInvestments.wordpress.com. 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. We're also excited to announce our newest sponsor, Eight Sleep! Eight Sleep makes products that improve your sleep through personalized temperature, smarter data, and patented technology. There is truly nothing like Eight Sleep on the market. With Eight Sleep, you can see exactly how well you sleep, how often you toss and turn, resting/variable heart rate, and more! The technology is unlike anything you've seen from a mattress company. Try an Eight Sleep mattress yourself! Use the code HIVE to get $100 off your mattress purchase!

This week we're stoked to bring you our conversation with Jason Greenwald. Jason is a full-time investor allocating capital between private real estate and public markets. On the real estate side, Jason buys all his properties in foreclosure auctions. In public equities, he wants to buy great businesses at great prices.  Jason's real estate experience biases him towards a long-term public equity mindset. He'll gladly buy and hold investments as long as the thesis is working and his returns are as good or better than his real estate holdings.  We covered a whole host of topics, including:  The power of luck Stories from the live auctions Staying patient when others are greedy  Buying at the right price Knowing when your ego is getting in the way  And more!  This was my first free-form podcast format and I loved it. Please let me know what you think with a rating and review. Do you want to see more free-form styles? If so, let me know! Make sure to follow Jason @JGreenwald86 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. We're also excited to announce our newest sponsor, Eight Sleep! Eight Sleep makes products that improve your sleep through personalized temperature, smarter data, and patented technology. There is truly nothing like Eight Sleep on the market. With Eight Sleep, you can see exactly how well you sleep, how often you toss and turn, resting/variable heart rate, and more! The technology is unlike anything you've seen from a mattress company. Try an Eight Sleep mattress yourself! Use the code HIVE to get $100 off your mattress purchase!

Ben Gordon, founder and head portfolio manager at Blue Grotto Capital, shares his journey from analyst to managing his own hedge fund. He discusses his unique research methodologies, emphasizing historical regressions and the resilience of specific business models. Gordon reveals insights on successful investments in Spectrum Brands and Cedar Fair, while also highlighting the challenges of shorting stocks—a 'dark art.' He reflects on lessons learned from past investment missteps, particularly in the fashion industry, underscoring the need for adaptability in fluctuating markets.

In this week’s episode, we had a conversation with Nik Lentz a former UFC fighter with a 30-12 fighting record that has a passion for trading. He is arguably one of the most unique guests of the show. During our conversation, Nik shared why he became a UFC fighter and what it's like to be a UFC fighter, how he got into trading options and derivatives, and of course, tells us about the parallels that exist between fighting and trading. [0:00] Nik’s Fighting Journey. [3:00] How Nik Became A UFC Fighter [20:00] From Fighting to Trading [40:00] Nik’s Trading Strategy [55:00] Nik’s View on Shorting Stocks [1:00:00] Wall street Bets and Breaking Points  [1:13:00] Best Part of the UFC   [1:19:00] Closing Questions If you liked the conversation and want to learn more about Nik Lentz, follow him on Twitter @NikLentz 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. We're also excited to announce our newest sponsor, Eight Sleep! Eight Sleep makes products that improve your sleep through personalized temperature, smarter data, and patented technology. There is truly nothing like Eight Sleep on the market. With Eight Sleep, you can see exactly how well you sleep, how often you toss and turn, resting/variable heart rate, and more! The technology is unlike anything you've seen from a mattress company. Try an Eight Sleep mattress yourself! Use the code HIVE to get $100 off your mattress purchase!