The Business Brew

Bill shares insights from a recent investor meeting, tackling Kinsale's management and valuation worries. He critiques cable industry trends, linking customer losses to rising operational costs. A personal experience with Comcast showcases service failures. Diving into investment strategies, he weighs buying cheap cable stocks now against future risks. Bill also discusses the potential of beaten-up stocks, evaluates Disney's leadership challenges, and expresses concern over the tech landscape dynamics featuring figures like Sam Altman.

Mark Cooper, founder and CIO of MAC Alpha Capital Management, stops by The Business Brew to discuss the potential opportunity in international markets. Mark has 20 years of experience in equity investing and almost 9 years in commodity trading, working at top-tier hedge funds and mutual funds with some legendary value investors.Mark’s experience prior to founding MAC Alpha Capital Management:Co-Portfolio Manager, First Eagle Investment Management, 2014 to 2019 | International Small Cap Value strategy.Portfolio Manager and Analyst, PIMCO, 2010 to 2014 | Global generalist managing a diversified quantitative U.S. equity fund.Partner and Portfolio Manager, Omega Advisors, 2005 to 2010 | Global industrials, capital goods, and commodities/energy sectors.Analyst, Pequot Capital Management, 2002 to 2004 Portfolio Manager, JP Morgan, 1992 to 2000 | Fixed income, commodities, and foreign exchange asset classes, co-managing a $50 billion notional value portfolio investing in both European and exotic options and managing a $10 billion portfolio focused on long-dated gold and silver.Adjunct Professor of Finance and Economics, Columbia Business School, 2004 to 2025| Applied Value InvestingEducation and Credentials:MBA - Columbia Business School 2002 | Bachelor of Science - Massachusetts Institute of Technology 1991. Former US Army officer Former Vice Chairman of Harlem success academy HSA #2 (a charter school) |Co-author of Value Investing: From Graham to Buffett and Beyond  – Second Edition.Sponsorship InformationThank you to ⁠⁠⁠Fiscal.ai⁠⁠⁠ for sponsoring the show. DISCOUNT INFO: If you use the affiliate link ⁠⁠⁠⁠fiscal.ai/brew⁠⁠⁠⁠, you will automatically get 2 weeks of Fiscal Pro for Free and if you find that you want to upgrade, my link will get you 15% off any paid plans. About ⁠⁠⁠Fiscal.ai⁠⁠⁠⁠⁠⁠Fiscal.ai⁠⁠⁠ is the complete modern data terminal for global equities.The ⁠⁠⁠Fiscal.ai⁠⁠⁠ platform combines a powerful user experience with all the financial data capabilities that professional investors need. Users get up to 20 years of historical financials for all stocks globally that they can easily chart, compare, or export into their own models. And unlike legacy data terminals where it can take hours or even days, ⁠⁠⁠Fiscal.ai⁠⁠⁠’s data is updated within minutes of earnings reports. ⁠⁠⁠Fiscal.ai⁠⁠⁠ also tracks all the company-specific Segment & KPI data so you don’t have to. Like to track Amazon’s Cloud Revenue? They’ve got it.How about Spotify’s premium subscribers? Or Google’s quarterly paid clicks?They’ve got all of it.

Matthew Quigley, Founder of DraftLine Capital and former FSU booster program leader, dives into the evolving landscape of athlete financing. He shares insights on lending to athletes, emphasizing how NIL deals and changing regulations are reshaping recruiting. Quigley explains the importance of responsible lending, teaching athletes to monetize their social media, and the complexities of ensuring repayment through direct deposits. He also addresses the ethical considerations of athlete lending and discusses the impact of large NIL contracts on sports. A fascinating blend of finance and athletics!

Peter Mantas, co-founder of Logos LP and expert in life sciences investing, shares insights on the recent developments in biotech. He discusses uniQure's promising Huntington's data and its implications for treatment. Mantas explains macro drivers behind the biotech rally and highlights key companies like Twist Bioscience for their DNA-synthesis technology. He emphasizes the importance of cautious investment in de-risked biotechs and assesses the sustainability of the current biotech rally, urging listeners to be mindful of potential volatility.

Maja Vujinovic, CEO of FGNX and an early crypto innovator, shares her journey from mobile payments in emerging markets to the world of crypto. She highlights the significance of Bitcoin and Ethereum in addressing remittance issues and providing financial access. Maja discusses her involvement in stablecoin development and the challenges she's faced with traditional institutions. As she contrasts Ethereum and Bitcoin, she emphasizes Ethereum's growing role in tokenization and the future of decentralized finance.

Dan Rasmussen, Founder of Verdad Advisors and author of The Humble Investor, brings his sharp insights into private equity risks and investment patience. He critiques current heavy allocations to private equity and discusses how recent market dynamics, including falling distributions, have trapped capital. Dan also dives into the unpredictability of growth and the unique challenges of biotech investing. He emphasizes the importance of balancing quality and valuation, and shares how his firm manages overconfidence and volatility in market strategies.

David Gardner, co-founder of The Motley Fool and author of 'Rule Breaker Investing', shares insights on long-term investing. He emphasizes the importance of patience and a long-term mindset, especially during market volatility. Gardner discusses strategic concentration in strong investments and the significance of understanding a company's brand and leadership. He also highlights the role of AI in enhancing investment strategies, urging investors to align their portfolios with personal values while focusing on sustainable growth opportunities.

Braden Dennis, co-founder of Fiscal.ai and former Stratosphere.io innovator, dives into his entrepreneurial journey. He shares insights on building a financial platform that democratizes access to data and integrates AI. The discussion highlights customer acquisition challenges and competition with giants like FactSet. Braden reflects on investment strategies and the importance of clear KPIs in finance. He also touches on effective sales tactics and his personal growth from a small apartment to leading a 40-employee company, blending business with a love for travel.

Spencer Cibelli, an Investment Associate at Robotti & Company, dives into the world of Haypp Group, the largest online retailer of nicotine pouches. He highlights the unique benefits for consumers and suppliers, showcasing how this niche market can be a 'Win-Win-Win.' The discussion also navigates the regulatory landscape surrounding nicotine products, examining societal attitudes, and the impact of online purchasing on consumer behavior. Cibelli's insights reveal both the challenges and growth potential in this evolving industry.

Jeff Collins, Managing Partner of Cloverlay, shares his expertise in niche private assets that promise uncorrelated and predictable returns. He discusses unique opportunities in telecom spectrum auctions and dark fiber investments, highlighting their strategic advantages for smaller investors. Jeff emphasizes the significance of understanding correlation in portfolio management and reflects on past investments to inform future strategies. Throughout the conversation, he reveals insights on regulatory changes and the evolving landscape of private assets, providing valuable lessons for institutional investors.