Yet Another Value Podcast

Derek Pilecki discusses financial sector trends, Western Alliance Bancorporation, Capital One, regulatory environment impact, election effects on banks, Robinhood, Fannie's and Freddie's, buybacks insights, and why banks are viewed as below average businesses.

Chris Waller from Plural Investing discusses TerraVest Industries Inc., highlighting its unique business model, propane tank industry, cost-saving strategies, and management efficiency. The podcast explores the underfollowed nature of TerraVest, its growth potential through acquisitions, and the importance of capital allocation and management in driving long-term success.

Speedwell Research's Drew Cohen discusses Constellation Software's unique acquisition strategy, capital allocation decisions, and potential risks like AI. They explore the company's culture, operational synergies, and ownership structures, comparing it to Berkshire Hathaway. The podcast also touches on favorite write-ups and quick thoughts on $RH.

In this podcast, Chris DeMuth discusses New ETF $BOXX, Bitcoin mania, and anti-trust outlook using Capital One / Discover as an example. He shares insights on market trends, tax advantages, and Bitcoin's evolution. The episode also explores risks in financial markets, Capital One's data-driven approach, and regulatory challenges in various industries.

Austin Crites, CIO at Aurora Financial Strategies, joins the podcast to discuss his thesis on The Lovesac Company (NASDAQ: LOVE), the home furnishing and technology brand best known for its Sacs, The World's Most Comfortable Seat. For more information about Aurora Financial Strategies, please visit: https://www.aurorafinancialstrategies.com/ Chapters: [0:00] Introduction + Episode sponsor: Tegus [1:35] Overview of Lovesac $LOVE and why are they so interesting to Austin [5:44] Bear case: One product company + cheap knockoffs [12:02] Repeat business / Crocs comparison / Reddit and TikTok Lovesac / Target customers [21:27] Shark Ninja comparison [26:09] Valuation / Competitive analysis (La-Z-Boy, Restoration Hardware) [31:07] Inventory turns [34:56] Short interest [38:48] Management and insider ownership [41:27] Barter revenues [43:43] $LOVE final thoughts Today's episode is sponsored by: Tegus This episode is brought to you by Tegus, the future of investment research. From the beginning, Tegus has been committed to creating efficiencies in the research process by making it easy to access the content that investors need to get to differentiated insights. Today, they’re taking it one step further by bundling qualitative content, quantitative data, and better automation and technology together in the same platform. Instead of piecing together data from fragmented sources, just log in to Tegus to get expert research, company- and industry-specific metrics and KPIs, SEC filings, and more, all under the same license cost. You can even take your work offline with an Excel Add-in that updates almost any model with the latest financial data — keeping all your custom formatting intact. Tegus is the fastest way to learn about a public or private company and the only platform you’ll need for fundamental research. To try it free today, visit Tegus.com/value

Pedro Sousa discusses his thesis on The Gym Group plc, competitive analysis, raising prices and margin expansion, discounting membership, new CEO, three-tier pricing, normalized earnings, EBITDA multiples, bear case, and final thoughts on the potential growth of the gym facilities in the UK

Evan Tindell, CIO of Bireme Capital, discusses British American Tobacco, vaping regulations, stock performance, and competition. He also touches on the menthol cigarette ban, $BTI's ownership stake in ITC, and capital allocation strategy. The podcast covers ESG considerations, next-gen products, legal liabilities, and the impact of taxes on non-burning tobacco products.

Alex Morris, Founder of TSOH Investment Research, discusses the 'Letting Winners Run' strategy, exploring hindsight bias, cash flow considerations, examples of timeless businesses, the role of management, position sizing, and dismissing banks as a source of letting winners run.

Financial expert Chris DeMuth discusses anti-trust, Spirit decision, US Steel - Nippon, banks, and $LQDA. He critiques recent legal decisions related to markets, explores the failed Amazon and iRobot deal, and discusses the political implications of US deal mergers. The podcast also includes humorous incidents, flight delays, and explores the interest in credit union deals.

Jon Hook, Senior Analyst at Voss Capital, discusses his thesis on R1 RCM, a healthcare revenue cycle management company. They cover topics such as tax burden, management changes, network effects, stickiness of the business, and competition from Optum. They also address concerns about aggressive accounting and the challenges of outsourcing revenue cycle management.