Exploring the depths of distressed investing can occasionally uncover undeniable proof that the asset is far from lifeless, revealing a scenario much more promising than the market price once suggested. All it takes is a catalyst to turn a dead investment into an opportunity with huge asymmetric returns. In the latest episode of the Thematic Investors podcast, host, Kieran Cavanna, Chief Investment Officer and Co-Founder, Old Farm Partners sits down with the ‘dynamic duo’ of PlusTick Management LLC – Tommy Hill, Managing Partner and Portfolio Manager, and Adrian Keevil, Managing Partner and Portfolio Manager.  Tommy and Adrian discuss:  investment risk taking and what it truly mean to be a distressed investor when you’ve beaten the MSCI World benchmark. their distressed flags that they target to highlight a potential investment opportunity and why they’re constantly swinging the bat to hit winners out of the park while insulating them from any larger losses. how investing in one distressed investment (regardless of oil, gas, AI, datacenters, telecom, etc) could lead to many other investments that have been overlooked, yet hold an opportunity for stronger upswings. the application of models to aid their thesis in distressed opportunities and how to understand the business, key stakeholders, outstanding litigation cases, and more. what is stakeholder theory and how it can help predict what a distressed opportunity will look like in the future. why they largely ignored early investing advice from past mentors, stating ‘nothing with wheels’, and how it played out with American and US Air. And more All opinions expressed by Tommy Hill, Managing Partner, and Senior Portfolio Manager, and Adrian Keevil, Managing Partner, of PlusTick Management, LCC in this podcast (the “Podcast”) are solely their own opinions and do not necessarily reflect the opinion of PlusTick Management, LLC. This Podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Clients of PlusTick Management, LLC may maintain positions in the securities discussed in this Podcast. This is not an offer to sell, nor a solicitation of an offer to buy, any security in any fund managed by PlusTick Management, LLC. The statements and opinions contained herein may change at any time, based on market or other conditions.  This Podcast includes forward-looking statements, including projections of future economic conditions, and information that is provided for illustrative purposes.  PlusTick Management, LLC does not make any representation, warranty, guarantee, or other assurance whatsoever that any of such forward-looking statements will prove to be accurate.   Connect with Tommy Hill and Adrian Keevil: LinkedIn: Tommy Hill LinkedIn: Adrian Keevil  PLUSTICK Partners Connect with Kieran Cavanna:  Old Farm Partners LinkedIn: Kieran Cavanna Source

In this latest episode of Thematic Investors Podcast, host Kieran Cavanna, Chief Investment Officer and Co-Founder, Old Farm Partners is joined by Will Homan-Russell, Chief Investment Officer, WMC Capital. Will brings his expertise on global shipping investment plays and how various market forces can impact the future of this industry.  Each year, there are around 70,000 vessels carrying 12.5 billion tons of goods by sea. These staggering numbers are broken down into carrying containers (between 15-20%) filled with cars and finished products, while the remaining transports carry commodities (80-85%) to keep the world running. These sectors come with specific supply and demand dynamics based on utilization levels, which can be a signal to institutional investors to get involved. Additional key points that are highlighted in this podcast include:  discover the remarkable evolution of the shipping industry over the past half-century and uncover the key supply and demand dynamics that empower investors to accurately forecast utilization trends and performance. with current geopolitical tensions running high globally, how does the shipping industry navigate these shocks to the system, and how can allocators take advantage of these investment opportunities? an exploration of the dynamic nature of the shipping industry, where the ebb and flow of demand drive the need for new builds and replacements. Dive into the transformative impact of cutting-edge emission regulations on vessel design, and what the new carbon intensity index standards will be as the industry moves forward. as the International Maritime Organization mandates a 40% reduction in shipping’s carbon intensity by 2030 and a shift to carbon neutrality by 2050, what groundbreaking innovations will rise to the challenge? Possibilities include retractable sails, advanced rotors, and cutting-edge propulsion technologies like green ammonia or methanol. what factors have led to the decline of shipbuilding in the US and UK, and where are the innovative hubs of production emerging globally today? And more Connect with Will Homan-Russell: LinkedIn: Will Homan-Russell WMC Capital Connect with Kieran Cavanna:  Old Farm Partners LinkedIn: Kieran Cavanna Source

Gavin Baker, CIO & Managing Partner, discusses technology investments inspired by history and literature. Topics include AI bubbles, data center investments, risks of startups vs. industry giants like Google, Meta, and Microsoft, and the impact of AI on application software. The podcast also explores how science fiction and fantasy influence investing, exceptional talent in engineering, and the challenges and advancements in the tech industry.

Global macro veteran Scott Bessent shares insights on interpreting data, global financial markets, and investment strategies. From his career journey to Soros Fund Management to navigating economic landscapes in Japan, China, and the US, Scott discusses the importance of diverse perspectives in investing. Dive into discussions on tech, finance, geopolitics, and the upcoming US election's financial implications. Plus, learn about hiring decisions and the value of hard work in the investment industry.

James Davolos, Portfolio Manager at Horizon Kin, talks about tackling high inflationary markets and the changing investment playbook. He discusses being a bottom-up investor using unconventional data collection techniques, the concept of 'immaculate disinflation,' and the benefits of AI for investors. Davolos also shares insights on the evolution of financial exchanges and the firm's unique investment strategies in real assets.

When looking at European investments how will the UK, France, Germany, Spain, and Italy align on energy transition, innovative technology growth, financial services, and more? How can institutional investors capture this market when comparing them against more attractive U.S. opportunities? In our latest episode of the Thematic Investors podcast, host, Kieran Cavanna, speaks with Stuart Mitchell, Managing Partner | CIO and Investment Manager, S.W. Mitchell Capital LLP. Learn more about Stuart’s background that took him from studying medieval history through the values of detaching emotions from investing, an appreciation of analytical research, and managing over $2bn AUM of European equity assets.  Stuart discusses:  His background in investing and how he shed the bureaucracy, controls, procedures, and politics of large organizations and created his own investment firm. How the UK market differs in valuations, sectors, and discounts when compared to America and why this isn’t explained by profitability or growth rates. The fanatic move to electric vehicles and other forms of energy in light of oil demand going up in the short term just to keep supply and production at stable levels. Why is Europe having a Hamiltonian moment? What investments will be prioritized by a joining of European states in terms of infrastructure, energy, defense, and more?  How are investment opportunities in defense positioned across the UK and will it ever go above 2% in GDP? If extra spending does occur (due to geopolitical events) why would America get the investment? Why are alternative investments (from BP, Chevron, Exxon, and others) in wind, solar, and hydrogen simply not covering their costs of capital and are predicted to lose money over the long term. European banks appear stronger than those in the US when reviewed for capitalization, leveraged ratios, liquidity, and more.   how culture plays a role in hiring people at S.W. Capital, from year-long internships to individual specialized areas of expertise. And more! Please note that the information covered and posted represents the views and opinions of the guest and does not necessarily represent the views or opinions of Vidrio Financial and or our host, Kieran Cavanna. The content has been made available for informational and educational purposes only. The content is not intended to be a substitute for professional investing advice. Always seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding investment planning. Connect with Kieran Cavanna:  Old Farm Partners LinkedIn: Kieran Cavanna Connect with Stuart Mitchell: LinkedIn: Stuart Mitchell S.W. Mitchell Capital LLP About Stuart Mitchell: Stuart is the Managing Partner and CIO of S. W. Mitchell Capital and the Investment Manager of the SWMC European Fund, as well as a number of managed accounts. Prior to founding SWMC in 2005, Stuart was a Principal, Director, and Head of Specialist Equities at J O Hambro Investment Management (JOHIM, now Waverton Investment Management). At JOHIM he set up and managed the Charlemagne Fund, a long/short European fund, and the JOHIM European Fund, a long-only European fund. The JOHIM European Fund rose by 133%, from inception in December 1998 until March 2005, compared with 8% for the benchmark index. It was rated number one within its sector by Micropal as well as awarded three stars by Standard & Poor’s. Upon leaving university in 1987, Stuart joined Morgan Grenfell Asset Management (MGAM) and soon afterward assumed responsibility for managing the continental European equity assets for MGAM’s British pension fund clients. Stuart was appointed a Director of MGAM in 1996. He subsequently took on the role of Head of European Equities and was responsible for $27 billion of equity assets. Whilst at MGAM he managed the Morgan Grenfell European Fund, which rose by 123% from January 1990 to June 1996, compared with 85% for the benchmark index. It was awarded first place in its sector in the Micropal Five Year Awards in 1996. Stuart was born in Scotland and educated at the University of St. Andrews, where he read Medieval History. He is also a graduate of the Owner/President Management program at the Harvard Business School. Stuart speaks English and French. Source

Alan Bezoza, telecom investor at DigitalBridge, discusses telecom sector evolution, cloud wars, AI-driven power demands, and strategic investments by tech giants like Google and Amazon. He explores the future of telecom, chips, and AI, highlighting the balance of power requirements and the advantages of residing in Denver for telecom investing.

When it comes to institutional investors exploring alternative energy sources uranium and nuclear energy present an intriguing opportunity. With the pressing need to address high global energy demands and combat climate change, this is an energy source that should not be underestimated. However, concerns still exist in terms of supply and demand as well as the geopolitical environment on the global stage. In our highly anticipated second episode of the Thematic Investors podcast, host, Kieran Cavanna, engages in a captivating discussion on uranium investing with Daren Heitman, CFA, Managing Partner & Chief Investment Officer, and Chris Gillespie, Partner and Co-Portfolio Manager at Azarias Capital Management. Daren and Chris discuss:  is now the right time for institutional investors to take a serious look at uranium investing options. why haven’t we seen this commodity start to spike? When will contracting start to build true momentum? how is the industry leader, Cameco changing their approach to uranium production to be more responsible for longer-term investors. the risks associated with the United States’ dependence on Russia and Kazakhstan for nuclear fuel supply. the increasing acceptance of nuclear power as a viable solution for meeting climate change goals. the buildouts and extensions that the US, China, and Japan are planning versus a country like Germany who is looking to shut their plants completely. and more! Connect with Kieran Cavanna:  Old Farm Partners LinkedIn: Kieran Cavanna To learn more about our host visit:  Connect with Azarias Captial Management: Azarias Capital Management LinkedIn: Daren Heitman, CFA LinkedIn: Chris Gillespie About Daren Heitman:  Daren Heitman was most recently a Partner and Portfolio Manager at Philadelphia-based Cooke & Bieler (2005-2014), where he led the firm’s successful launch of its Small Cap Value strategy and co-managed over $4 billion in mid/large-cap equities for institutional clients. He was previously a Senior Analyst and Partner at Schneider Capital Management (2000-2005), where he conducted in-depth research and analysis, mainly on small-cap value stocks. He began his investment management career in 1994 at Skyline Asset Management, a Chicago-based investment advisory firm specializing in small-cap value management, where he was engaged full-time in small-cap value fundamental research. Daren earned an MBA with Honors from the University of Chicago – Graduate School of Business. He is also a graduate of Iowa State University with a B.S. in Finance. About Chris Gillespie: Chris Gillespie joined Azarias Capital in March 2015. Chris was previously a Senior Analyst and Partner at Schneider Capital Management (1999-2015). While at Schneider, he conducted in-depth, fundamental research on small and mid-cap value companies across a broad range of sectors, including industrial, machinery, autos, food & beverage, metal & mining, commodities, and trucking. Chris earned an MBA in Finance from Columbia Business School and graduated with Honors from Boston College with a B.S. in Economics.  Source

Back in 1962, President Kennedy declared that by the end of the decade the United States would have a man on the moon. Energy transition is an entirely different animal where the  technology, consumer sentiment, and politics will require further progress before we can declare victory. In this inaugural episode, Kieran Cavanna, CIO, Old Farm Partners and host of the Thematic Investors podcast, is joined by Todd Kantor, Founder and Managing Member of Encompass Capital Advisors LLC. This is a critical podcast for those interested in energy transition and the investment strategies that are required to play in this arena. Kieran and Todd discuss:  How Todd and the Encompass team define above and below surface risk, and how they apply it in investment decisions today. Are we fighting a losing battle in climate change if China emissions have increased over 7 billion tons since 1999? How much are Americans willing to spend in the fight on climate change? Hint: there’s a significant mismatch between responses and what’s actually needed. The difference in active investing and passive investing in this sector. The critical importance of data analytics, and why being a data junkie is especially important when analyzing energy transition strategies. And more! Any statements provided by Encompass Capital Advisors LLC are for informational purposes only and shall not constitute an offer to sell or a solicitation to buy any investment product or services offered.  While all the information discussed is believed to be accurate, Encompass makes no express warranty as to its completeness or accuracy, nor can it accept responsibility for any errors.  The views and opinions expressed maybe forward looking and are subject to change without notice.  Any projections, outlooks or assumptions should not be construed to be indicative of the actual events which occur. Connect with Kieran Cavanna:  Old Farm Partners LinkedIn: Kieran Cavanna To learn more about our host visit: https://www.vidrio.com/blog/thematic-investors-podcast-kantor-encompass  About Todd Kantor:  Todd Kantor is a founder and Managing Member of Encompass Capital Advisors LLC, an SEC-registered investment adviser. He has over 21 years of experience in the global energy markets as a portfolio manager, analyst, trader, and investment banker. Mr. Kantor is the Portfolio Manager of the Encompass Funds. Mr. Kantor manages an alpha-driven long/short equity strategy focused on bottom-up fundamental research analysis across a variety of global energy sub-sectors which include traditional exploration & production, and oil field services, energy transition, renewables, and energy-related cyclical sub-sectors. Encompass Capital launched on February 1, 2012, when Mr. Kantor and his core team spun out from Citadel LLC PioneerPath Capital platform where Mr. Kantor managed an energy-focused portfolio from May 2008 to January 2012. With a team of fifteen professionals, Mr. Kantor oversees an eight-person investment team. The Encompass investment process developed by Mr. Kantor is underpinned by rigorous modeling of equities and commodities, coupled with extensive data analysis and communication with management teams globally. Mr. Kantor started his career at JP Morgan in the Global Oil & Gas Investment Banking Group, and subsequently held analyst positions at Solstice Equity Management, a fund within the Bass Brothers Taylor Fund L.P, and Touradji Capital, a “Tiger cub”. Mr. Kantor has a B.B.A. degree from the Goizueta Business School at Emory University with a concentration in Finance.   Source