Compounders Podcast

Our guest on the show this week was Andrew Hollingworth, the Portfolio Manager at HollAnd Advisors. Andrew has an eclectic background and, like many of previous guests, has centered his investment strategy around the search for compounders. In this informative conversation, we covered: How Andrew developed the investment philosophy he is employing today; Why he likes to invest behind owner-managers; His definition of a supernatural compounder; His contrarian stance on Biglari Holdings; and Why he is OK investing behind executives that other investors dislike To learn more, please visit Andrew's LinkedIn page and the HollAnd Advisors website.  Thanks for listening. 

My guest on the show today is Andy Kurita, the Portfolio Manager at Kettle Hill Capital Management. Andy has a track record in long-short investing in small cap US equities that goes back to the early 2000s. We haven’t had many managers who actively short on the podcast and I was curious to hear from Andy about: How Kettle Hill is differentiated versus other hedge funds; What he thinks about the small cap investing landscape today; The difference between a stock that fits in the long book versus in the short book; What it has been like to be a short investor in recent years; and How he thinks about concentration and risk management.

My guest on the show today is Joe Magyer, the Founder and Managing Partner at Seaplane Ventures. Joe spent the first part of his career in public equities and in 2022, founded Seaplane to focus on early stage investing. We have not had many VCs on the podcast before, and I was excited to speak with Joe about: • His journey from public markets to venture investing; • What the name Seaplane means to him; • Where the firms plays in the VC ecosystem; • Why he has decided to concentrate his investments; and • How the skill set he developed after a long time in public markets helps him with his new venture today Here is the link to Joe's bio: https://www.linkedin.com/in/joemagyer/ Here is the link to Seaplane's website: https://www.seaplaneventures.com/  

My guest on the show today is Matt Blair, the co-founder and CEO of REI Capital Management. Private real estate has been an asset class that has performed well over many years—but has largely been inaccessible to the average individual investor. In co-founding REI, Matt has the goal of democratizing access to private real estate investments. In this enlightening conversation, Matt and I discussed: How retail investors can typically access private real estate investments today; Why REI has gone through a lengthy SEC process to try to expand access to private real estate; The investment strategy REI is employing; Important investor considerations such as diversification and liquidity; and The types of property Matt is looking to acquire—without overpaying of course. For more information about REI Capital Management, please visit: https://reicapitalmanagement.net/team-member/matthew-blair/ Listen to all Compounders Podcast episodes on either Apple or Spotify iTunes: https://apple.co/3xlUvPY Spotify: https://spoti.fi/3jxkxLl All opinions expressed by your hosts and the podcast guests are solely their own opinions and do not reflect the opinion of SNN or its affiliates. This podcast is for informational purposes only, it is not investment advice, and should not be relied upon for any investment decisions. We are not recommending the purchase or sale of any securities. The hosts and guests may be beneficial owners of the securities discussed. You should not assume that the securities discussed are or will be profitable.

Our guest on the show this week is Tim Call, the President and CIO of The Capital Management Corp., a long-only investment firm that focuses on cash cows. The firm has been around since the 1960s and has remarkable client retention numbers. In this enlightening conversation, Tim and I covered: The lasting legacy of the firm; What a cash cow means to CMC; Why they think SMID cap is a great place to be investing; The philosophy surrounding portfolio concentration; and How to get the most out of a small investment team. For more information about The Capital Management Corp., please visit: https://cmcva.com/ Listen to all Compounders Podcast episodes on either Apple or Spotify iTunes: https://apple.co/3xlUvPY Spotify: https://spoti.fi/3jxkxLl All opinions expressed by your hosts and the podcast guests are solely their own opinions and do not reflect the opinion of SNN or its affiliates. This podcast is for informational purposes only, it is not investment advice, and should not be relied upon for any investment decisions. We are not recommending the purchase or sale of any securities. The hosts and guests may be beneficial owners of the securities discussed. You should not assume that the securities discussed are or will be profitable.

Tal Keinan, CEO of Sky Harbor Group, discusses the unique challenges in the business aviation industry, particularly the pressing shortage of hangar space. He shares insights into the company's transition to public status and debates whether it's a real estate firm, an operating company, or a blend of both. Keinan also addresses competition from emerging players and the strategic use of tax-exempt bonds to enhance financial growth. Listen for his innovative solutions to bridge the supply-demand gap in hangar development.

Tania Pouschine, Founder and Portfolio Manager of Fithian and a former investigative journalist, discusses her unique approach to investment based on journalistic principles. She shares the inspiration behind founding Fithian and highlights the significance of deep due diligence in identifying quality stocks. Tania also explores the strategic use of structured investment insights and collaborative environments within her firm. With real-world examples, she emphasizes risk management and navigating market anomalies to uncover investment opportunities.

My guests on the show today are Brent Robinson and Kevin Fogarty of Value Creators, a US-focused public equity firm that has a long track record of success. After working together for a number of years at Dupont Capital Management, Brent and Kevin helped found Value Creators in 2023. When I heard about the proprietary process the firm uses to assess capital allocation, I knew I had to have them on the podcast. In this fascinating conversation, we covered: The long history the Value Creators team has together; The circumstances surrounding the founding of the firm; How they assess capital allocation; Portfolio construction, including concentration; and The process they use to whittle down their investment universe. For more information about Value Creators Capital, please visit: https://www.valuecreatorscapital.com/ This episode is sponsored by: Daloopa Earnings season—two words that can make any analyst’s heart race. The late nights, the endless manual updates, and the constant pressure to deliver timely, accurate insights—it’s overwhelming. But it doesn’t have to be. With Daloopa, you can revolutionize the way you work. Their automated model update solution takes the manual effort out of the equation, delivering complete, accurate, and real-time financial data at the click of a button. No more endless spreadsheets. No more scrambling to keep up. Daloopa empowers you to initiate coverage faster, refine your investment theses with confidence, and focus on what really matters—identifying key opportunities and delivering actionable recommendations that drive results. Plus, with fully auditable data, you’ll always have the confidence that your insights are backed by accuracy. So, if you’re ready to get ahead of earnings season and take your analysis to the next level, visit daloopa.com/comp today. Daloopa—because your time is too valuable to spend it on data entry: https://go.daloopa.com/comp Listen to all Compounders Podcast episodes on either Apple or Spotify iTunes: https://apple.co/3xlUvPY Spotify: https://spoti.fi/3jxkxLl All opinions expressed by your hosts and the podcast guests are solely their own opinions and do not reflect the opinion of SNN or its affiliates. This podcast is for informational purposes only, it is not investment advice, and should not be relied upon for any investment decisions. We are not recommending the purchase or sale of any securities. The hosts and guests may be beneficial owners of the securities discussed. You should not assume that the securities discussed are or will be profitable.

My guest on the show today is Nic Johnson, the founder of Listwise, a company that is trying to revolutionize how residential brokers get paid when helping clients sell their homes. After spending many years at PIMCO as a portfolio manager, Nic founded Listwise in 2022 to help create better alignment between home sellers and their brokers. In this wide-ranging discussion, we covered: What led Nic to start Listwise; The problem associated with selling a home that the company is attempting to solve; How Listwise incentivizes brokers to get the highest price for a seller; Common mistakes homeowners make when they are selling their house; and How the company is attracting customers For more information about Listwise, please visit: https://listwise.com/ This episode is sponsored by: Daloopa Earnings season—two words that can make any analyst’s heart race. The late nights, the endless manual updates, and the constant pressure to deliver timely, accurate insights—it’s overwhelming. But it doesn’t have to be. With Daloopa, you can revolutionize the way you work. Their automated model update solution takes the manual effort out of the equation, delivering complete, accurate, and real-time financial data at the click of a button. No more endless spreadsheets. No more scrambling to keep up. Daloopa empowers you to initiate coverage faster, refine your investment theses with confidence, and focus on what really matters—identifying key opportunities and delivering actionable recommendations that drive results. Plus, with fully auditable data, you’ll always have the confidence that your insights are backed by accuracy. So, if you’re ready to get ahead of earnings season and take your analysis to the next level, visit daloopa.com/comp today. Daloopa—because your time is too valuable to spend it on data entry: https://go.daloopa.com/comp Listen to all Compounders Podcast episodes on either Apple or Spotify iTunes: https://apple.co/3xlUvPY Spotify: https://spoti.fi/3jxkxLl All opinions expressed by your hosts and the podcast guests are solely their own opinions and do not reflect the opinion of SNN or its affiliates. This podcast is for informational purposes only, it is not investment advice, and should not be relied upon for any investment decisions. We are not recommending the purchase or sale of any securities. The hosts and guests may be beneficial owners of the securities discussed. You should not assume that the securities discussed are or will be profitable.

Todd Wenning, President and CIO of KNA Capital, shares his insights into the world of economic moats and investment strategies. He discusses the crucial role of moats in ensuring long-term growth and the complexities of building a concentrated portfolio. Todd also touches on the unique impact of nostalgia in investing, particularly how beloved brands like Nintendo thrive across generations. Additionally, he highlights the rewarding experience of teaching finance and the importance of thoughtful investment decisions drawn from consumer behavior.