The Acquirers Podcast

Big Tech’s AI spending spree is running into a costly financing problem, with equity markets, debt, and demand for chips all under scrutiny. The discussion explores Anthropic’s massive losses, AI’s accelerating productivity gains, market volatility, social risks, and whether robots can offset population decline. They also examine durable businesses, post-pandemic inequality, and Netflix’s valuation amid fierce competition from YouTube.

Tim Melvin, a value investor and financial writer, explores overlooked corners of the market. He discusses resilient community banks, thrift conversions, discounted REITs, closed-end funds, private credit, and preferred stocks. The conversation also examines activist catalysts, credit spreads, AI-fueled market excitement, and preparing for unpredictable crashes.

Tim Travis, value investor and co-host of the Value Options Podcast, joins a wide-ranging discussion on AI’s uncertain winners, the potential singularity, and technology’s risks. They explore Buffett-style investments in enduring human needs, overlooked mid-caps, discounted business development companies, real estate options, housing weakness, and the dangers of extreme index concentration.

Artificial intelligence, self-improving machines, and the possibility that the singularity has already begun take center stage. The discussion explores why crash protection, options hedges, and moving averages often disappoint, how valuation forecasts returns without timing markets, and why every crash follows different mechanics. They also consider AI’s promise in medicine, human adaptability, and preparing to survive the next downturn and capture the following boom.

A brutal market selloff puts value investors on alert. The discussion explores rising rates, energy costs, cyclical stocks, Micron’s volatile earnings, and whether AI companies can sustain pricing power. MGM emerges as a potential bargain through Macau, Japan, online gambling, and cash flow. The conversation also examines consumer strain, historical inflation parallels, beaten-down quality stocks, and a discounted business development company.

Ryan Albert, founder of Turton Capital and former Berkshire Hathaway investor, discusses his journey from Princeton baseball to global value investing. He explores Korea’s governance discount, AI-driven market concentration, shareholder activism, and Golfzon’s hidden asset value. The conversation also covers reform tools such as cumulative voting, mandatory tender offers, bear hugs, and lessons from investing across Africa.

Jeff Weniger, chief strategist at Corgi and former WisdomTree strategist, joins a wide-ranging market discussion. They examine collapsing breadth beneath strong indexes, rising bond yields, narrow MAG-7 leadership, and the growing appeal of long-duration bonds. The conversation also explores French fiscal stress, persistent inflation, AI valuations, venture-capital risks, stretched profit margins, and how higher-for-longer rates could challenge equities.

Jonathan Boyar, president of Boyar Research, brings a value investor’s eye to overlooked opportunities. He examines Booking’s durable travel marketplace, Airbnb and AI, Pool Corp’s post-pandemic reset, and hidden value in sports franchises. The conversation also explores Burger King’s turnaround, Markel, Uber’s autonomous future, Nike’s struggles, and why patience matters in a concentrated market.

Alex Edmonds, finance professor and author of The Madness of Markets, explores how emotion, hype, and herd behavior move prices. They discuss soccer losses and stock markets, AI optimism, short-seller danger, and why smart investors rationalize mistakes. Edmonds also examines CEO character as an investment clue, contrarian strategies, and when passive investing beats the pursuit of an edge.

Ian Cassel, microcap investor, author of Stock Picker, and founder of MicroCapClub and Planet MicroCap, explores the temperament behind successful stock picking. He discusses building a premier microcap community, finding quality businesses globally, evaluating management relationships, surviving bear markets, and avoiding costly averaging down. The conversation also covers AI’s impact on research, portfolio construction, and combining growth, value, and story stocks.