Compounders Podcast

My guest on the show today is Jim Cunniff, President and CEO of Electromed, Inc. (NYSE American: ELMD). Electromed is best known for its main products, the SmartVest, a medical device that helps people with a chronic lung condition breathe easier and have a better quality of life. After working at Baxter and Stryker, Jim became CEO in 2023 and has brought a new level of focus and urgency to the Electromed. In this conversation, covered: Why Jim decided to take the CEO role at Electromed; What is special about the SmartVest, as well as the drivers of growth; Why Bronchiectasis remains an underdiagnosed condition; What he has learned from being an operating partner at Shore Capital; and How the company generates 70%+ gross margins. For full disclosure, I am not an Electromed shareholder. For more information about Electromed, please visit: https://investors.smartvest.com/overview/default.aspx 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.

Jim Edwards, founder and managing partner of Maestria Partners, shares his journey from university endowments to launching his own investment firm. He discusses key lessons in differentiation and effective investment strategies. Jim reveals his approach to valuing well-regarded companies and explains why he prefers a concentrated portfolio. The conversation delves into the dynamics of major tech investments and the importance of learning from past mistakes, offering valuable insights for anyone navigating the investing landscape.

My guest on the show today is Carl Herberger, the CEO or Corero Network Security. Carl joined Corero, a UK-listed microcap company, at an exciting time for the company. Cybersecurity is such a hot space that I was excited to speak with Carl about: What he thought was so compelling about the opportunity to lead Corero; Where the company’s products play in the cybersecurity ecosystem; How a small company lands partnerships with well-known, large companies; Ways in which AI is going to impact the cybersecurity market going forward; and How he is currently balancing the tension between achieving growth and better profitability For full disclosure, I am not a Corero shareholder. For more information about Corero, please visit: https://www.corero.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.

My guest on the show today is Yuri Khodjamirian, the CIO at Tema. Tema is an innovative company that is trying to revolutionize the ETF industry. The company has a passion for providing investors, especially those in retail space, with access to institutional quality managers and strategies. In this in-depth discussion, we covered: Tema’s mission at it relates to providing quality access to ETF strategies How Tema is trying to differentiate its ETFs within a very crowded space Why some prominent venture firms thought was so attractive about Tema to warrant an investment; The strategy behind the Tema Monopolies and Oligopolies ETF, ticker TOLL; and His approach to establishing an edge in well-known stocks. For more information about Tema ETFs, please visit: https://temaetfs.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.

Mathieu Martin is a microcap specialist and Portfolio Manager of the Rivemont MicroCap Fund, with a keen eye on Canadian stocks. He shares how his love for microcaps ignited and discusses the inefficiencies he observes in this market. U.S. investors often overlook these opportunities, but Mathieu highlights the current undervaluation of Canadian microcaps, especially in sectors like technology and healthcare. He also reflects on the lessons learned from a tough year in 2022 and emphasizes the importance of disciplined research and risk management in navigating this unique investment landscape.

Brendan Hughes, an author and investment advisor at Lafayette Investments, shares insights from his book, Markets in Chaos. He discusses critical lessons from historical market cycles, emphasizing the importance of diversification and management trust. Hughes critiques the labels of 'value' and 'growth' in investing and argues for focusing on quality companies. He also draws parallels between today and the 1970s energy crisis, offering a unique perspective on navigating current market dynamics.

My guest on the show today is Chet Rastogi, Partner and Portfolio Manager of Heron Bay Capital Management. Chet is a seasoned investor who helps the firm run both its discretionary and systematic strategies. In this interesting conversation, we discussed: Heron Bay’s definition of a quality company; What it means to be a good steward of clients’ capital; Why the firm employs both discretionary and systematic strategies; How he thinks about concentration in both types of strategies; and The case for continuing to run a microcap strategy For more information about Heron Bay Capital Management, please visit: https://www.heronbaycap.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.

Bogumil Baranowski, founder of Blue Infinitas Capital, talks about his investment philosophy, types of companies he focuses on, and attracting clients. He discusses the importance of an infinite time horizon, writing books, and investing in quality businesses for long-term growth.

Tom Bachrach, an eclectic investor, discusses his approach to finding undervalued smaller companies in unconventional markets. Topics include seeking healthy financials, investing in commodities, and the importance of insider alignment. He also explores the investments in uranium, coal, and other unconventional assets within his portfolio.

Meb Faber, the Founder & CIO of Cambria Investment Management, discusses Cambria's journey to $2 billion in AUM, target audience for ETFs, Trinity portfolios, shareholder yield strategies, and ETF differentiation. They delve into global exposure, power law insights, content creation, efficient investing strategies, and investment opportunities like EYLD and T-YLD fund.