Yet Another Value Podcast

Chris Waller, Founder and CIO at Plural Investing, returns to discuss his investment insights on The Watches of Switzerland Group. He reveals what the market overlooks about WOSG's potential and breaks down its intriguing ties with Rolex. The conversation spans Rolex's retailer strategies, including the unique dynamics of their supply chain relationships, and the challenges posed by luxury trends among younger consumers. Waller also explores why Rolex doesn't sell online and the implications of their selective distribution methods.

Kyle Mowery, Managing Partner and Portfolio Manager at GrizzlyRock Capital, offers sharp insights on Driven Brands Holdings Inc. He highlights market missed opportunities in the automotive services sector, especially amid a backdrop of overinvestment. Mowery delves into the competitive growth of quick oil change services and discusses why brand strength protects against oversupply. He also touches on the complexities of financial reporting and the effects of private equity ownership on valuation, raising intriguing points about future growth and capital allocation strategies.

Matt Warder, a coal market expert and returning guest, dives into the intricate world of coal in the context of AI technology and politics. He discusses how coal's role is evolving amid rising energy demands, especially from AI data centers. Warder analyzes the upcoming elections' potential impact on the coal market and provides insights on the Peabody $BTU situation, as well as the $CEIX and $ARCH merger. He highlights the significance of met coal in current market dynamics and explores innovative strategies to unlock value in this sector.

Dive into the intriguing world of selection bias and how it affects investment strategies. Explore the risks of focusing on one company or sector and challenge your perceptions of probability. Discover the significance of terminal value risk and its varied impact across industries like coal, tobacco, and Uber. Plus, learn how fame can enhance financial opportunities, particularly in entertainment and sports. This lively discussion seamlessly merges finance with engaging insights.

Michael D. Cohen, CEO & Director of Research at MDC Financial Research, shares his insights on the high-stakes $ACI and $KR case following the trial's conclusion. He analyzes courtroom dynamics and the judge's demeanor, shedding light on the influential testimonies, particularly from 'Joe the Grocer.' Cohen discusses the complexities of legal definitions in mergers and the potential outcomes for the case. His expert opinions provide a glimpse into the intricate financial implications and strategic maneuvers impacting this significant merger in the grocery sector.

Mitchell Scott, Founder and Portfolio Manager at Choice Equities Capital Management, shares insights on Crocs, Inc. and Magnite. He updates his investment thesis on $CROX, discussing its transformation from a fad to a sustainable brand, alongside strategic partnerships and the impact of the HeyDude acquisition. Mitchell also explores Magnite’s role in digital advertising, highlighting its partnerships with Netflix and Disney, and the challenges in CTV ad personalization. His thoughts on both companies reveal potential opportunities for savvy investors.

Conor Maguire, founder and editor of the Value Situations Newsletter, returns to share insights on Dowlais Group Plc, focusing on its pivotal role in the transition to sustainable vehicles. He highlights what the market may overlook about Dowlais, including its strategic review and management performance. The discussion dives into trends in the automotive industry, the impact of China's market, and investment strategies in undervalued stocks. Conor also tackles concerns like goodwill write-offs and the cyclical nature of powder metallurgy, providing a comprehensive view of potential growth opportunities.

Vincent Bolloré, a renowned French business magnate, discusses his remarkable investment journey and the evolution of Bolloré SE and Compagnie de l'Odet. He shares his insights into the competitive investment landscape and why his firms present unique alpha opportunities now. Risk factors like potential regulatory challenges and corporate strategies, including share repurchases, are examined. The conversation also highlights Vivendi's valuation and its key assets, offering listeners a deep dive into the complexities of French capital management.

Mario Cibelli, Managing Partner at Marathon Partners Equity Management, discusses Remitly Global, a leader in digital remittances. He highlights the market's oversight in valuing $RELY and delves into customer trust issues and transaction complexities. The conversation addresses the competitive landscape between Remitly and Wise, as well as the operational hurdles posed by cybercrime. Cibelli also evaluates the potential of stablecoins in transforming remittance costs while pondering what keeps him up at night regarding his investment thesis.

Michael D. Cohen, CEO & Director of Research at MDC Financial Research, provides a deep dive into the Albertsons and Kroger merger case. He discusses courtroom insights that are often overlooked, the complexities of market definitions, and the critical pricing arguments at play. Cohen raises concerns about divestitures and draws parallels to previous failed mergers, emphasizing the potential consumer impact. The conversation also touches on labor dynamics and the political elements influencing the case, making it a fascinating exploration of the grocery industry's future.