The Intelligent Investing Podcast

OTC Stock Manual   If you’d like to purchase Jan Svenda’s Manual Of Stock (like an updated online Walker’s Manual)…click, here.   You can see samples to Jan’s manual, here.   Subscribe If you like The Intelligent Investing Podcast, please consider subscribing on: Apple Podcasts YouTube Stitcher TuneIn Spotify Podbean iHeart Radio   Summary Calloway's Nursery was first discussed in Episode #22. In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with Jan Svenda to discuss Calloway's Nursery, Inc. (CLWY). This may possibly be the least obscure stock that Jan has ever discussed on the show. The company runs a small chain of garden centers in Texas. There is an activist investor in the management who has been a good steward of capital. The original pitch was that the company was trading below liquidation while business was solid. New management came in and realized value. There’s been about an extra 10% return with special dividends. The company currently spits out $3,000,000 a year in free cash flow which is backed up by real estate and a healthy balance sheet. The company is opening up new stores. There’s also the possibility of future improvements in free cash flow. The company is currently valued at about a 10% free cash flow yield. The coronavirus should not hurt them too badly.   About Jan Svenda Jan is a “deep value” investor/analyst mainly focused on the US small-cap and micro-cap universe. He started out with a long-only bias (stocks trading close to NCAV etc.) which led to his interest in the OTC world. Jan now covers this space through his exclusive newsletter service where he shares his latest long ideas and a watchlist of OTC stocks which should help subscribers generate material returns and allow them to “monitor” the OTC space more efficiently. The service also acts as a community of engaged members who share the same focus. On top of this, he is interested in short-focused research especially in the thesis revolving around accountancy or earnings manipulation. From time to time he also contributes to Safety in Value’s marketplace ‘Microcap Review’.   STAYING IN TOUCH WITH JAN SVENDA To learn more about Jan and his manual of OTC stocks, you can visit his website. He can also be reached via LinkedIn.   Staying In Touch With Eric Schleien Facebook YouTube LinkedIn Twitter Instagram GSCM  

For the full video interview on YouTube, click here.   Subscribe If you like The Intelligent Investing Podcast, please consider subscribing on: Apple Podcasts Stitcher TuneIn Spotify Podbean iHeart Radio YouTube   Overview Endor AG is a Munich-listed holding company whose sole asset is Fanatec, the premium provider of racing wheels and other accessories for sim racing games played on consoles and PCs Despite being a German-listed small-cap, the company has ~80% market share in the premium wheel/accessories segment and has essentially locked up exclusive branding rights for all the major OEMs and racing organizations (F1/Nascar/WRC) to produce branded replica racing wheels.   Growth   Endor AG grew 70-80% last year and has compounded revenues at 40% over the last 10yrs, as iRacing/simulated racing has grown organically in popularity at very high rates COVID-19 Impact Current growth is exploding due to COVID-19 and the mainstream recognition sim racing has garnered with normal sports closed for the last three months.   The current business is growing 100-200% per annum, so much so that the company can barely keep up with demand.     The company has already leaked they are targeting 150-200mm in revenues at 25-30% EBIT margins in the next couple of years (versus 40mm revenues last year and 80mm this year).   Going Forward The stock currently trades at ~11x 2021 earnings, and ~2x 2021E sales, despite a multi-year runway where the business could grow 30% for a very long time.   Fair value on a 'normal' exchange with English disclosures/investor relations would probably be 4-5x the current price. Jeremy believes that even on the minor German exchange, it's hard to see how the stock doesn't double or triple again.     Staying In Touch With Jeremy Raper Blog Twitter   Staying In Touch With Eric Schleien Facebook YouTube LinkedIn Twitter Instagram GSCM

OTC Stock Manual   If you’d like to purchase Jan Svenda’s Manual Of Stock (like an updated online Walker’s Manual)…click, here.   You can see samples to Jan’s manual, here.   Other Episodes Featuring Jan Svenda Altair Vulcan International Millennium Investment & Acquisition Company Conair Corp Mills Music Trust OTC Investing Primer   Subscribe If you like The Intelligent Investing Podcast, please consider subscribing on: Apple Podcasts Stitcher TuneIn Spotify Podbean iHeart Radio     IF YOU’D LIKE TO WATCH THE INTELLIGENT INVESTING PODCAST ON YOUTUBE, CLICK HERE.   Summary In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with Jan Svenda to discuss Pinelawn Cemetery (PLWN), a dark OTC stock.   Articles A Dark OTC Stock with a 9% Dividend Yield (Elementary Value)   About Jan Svenda Jan is a “deep value” investor/analyst mainly focused on the US small-cap and micro-cap universe. He started out with a long-only bias (stocks trading close to NCAV etc.) which led to his interest in the OTC world. Jan now covers this space through his exclusive newsletter service where he shares his latest long ideas and a watchlist of OTC stocks which should help subscribers generate material returns and allow them to “monitor” the OTC space more efficiently. The service also acts as a community of engaged members who share the same focus. On top of this, he is interested in short-focused research especially in the thesis revolving around accountancy or earnings manipulation. From time to time he also contributes to Safety in Value’s marketplace ‘Microcap Review’.   STAYING IN TOUCH WITH JAN SVENDA To learn more about Jan and his manual of OTC stocks, you can visit his website. He can also be reached via LinkedIn.   Staying In Touch With Eric Schleien Facebook YouTube LinkedIn Twitter Instagram GSCM   Disclosure Eric Schleien and clients of his company Granite State Capital Management have no position in Pinelawn Cemetery. I, Eric Schleien, recorded this podcast myself, and it expresses my own opinions. This episode should not be considered investment advice. Please do your own due diligence.

OTC Stock Manual   If you’d like to purchase Jan Svenda’s Manual Of Stock (like an updated online Walker’s Manual)…click, here.   You can see samples to Jan’s manual, here.   Subscribe If you like The Intelligent Investing Podcast, please consider subscribing on: Apple Podcasts Stitcher TuneIn Spotify Podbean iHeart Radio     IF YOU’D LIKE TO WATCH THE INTELLIGENT INVESTING PODCAST ON YOUTUBE, CLICK HERE.   Summary In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with Jan Svenda to discuss Altair (ATCD), a dark OTC stock.   Articles Altair Corp Update (SeekingAlpha) Obscure, But Likely Attractive (SeekingAlpha)   About Jan Svenda Jan is a “deep value” investor/analyst mainly focused on the US small-cap and micro-cap universe. He started out with a long-only bias (stocks trading close to NCAV etc.) which led to his interest in the OTC world. Jan now covers this space through his exclusive newsletter service where he shares his latest long ideas and a watchlist of OTC stocks which should help subscribers generate material returns and allow them to “monitor” the OTC space more efficiently. The service also acts as a community of engaged members who share the same focus. On top of this, he is interested in short-focused research especially in the thesis revolving around accountancy or earnings manipulation. From time to time he also contributes to Safety in Value’s marketplace ‘Microcap Review’.   STAYING IN TOUCH WITH JAN SVENDA To learn more about Jan and his manual of OTC stocks, you can visit his website. He can also be reached via LinkedIn.   Staying In Touch With Eric Schleien Facebook YouTube LinkedIn Twitter Instagram GSCM   Disclosure Eric Schleien and clients of his company Granite State Capital Management have no position in Altair. I, Eric Schleien, recorded this podcast myself, and it expresses my own opinions. This episode should not be considered investment advice. Please do your own due diligence.

Subscribe If you like The Intelligent Investing Podcast, please consider subscribing on: Apple Podcasts Stitcher TuneIn Spotify Podbean iHeart Radio YouTube   Summary In this episode of The Intelligent Investing Podcast, I sit down with David J Flood to discuss TSR, Inc (TSRI).     About David Flood David runs the blog, Elementary Value, and is a private value investor based in the UK. His investing approach is grounded in the fundamental precepts of value investing based upon Ben Graham’s core concepts of ‘Intrinsic Value’ and ‘Margin of Safety’. His investment strategy involves looking at both ‘Deep Value and ‘Franchise Value’ situations and using the value investing framework to analyze the financial and corporate facets of a given prospective investment.   Staying In Touch With David Flood Twitter Blog   Staying In Touch With Eric Schleien Facebook YouTube LinkedIn Twitter Instagram GSCM

Subscribe If you like The Intelligent Investing Podcast, please consider subscribing on: Apple Podcasts Stitcher TuneIn Spotify Podbean iHeart Radio YouTube   Summary In this episode, Eric Schleien interviews Zach Schleien, the founder of Filter Off which was recently featured in The New York Times. You can read other articles about Filter Off below: Lockdown Love Does Dating During Quarantine Seem Impossible? Quarantine Dating Coronavirus Sees High Spike In Dating Apps Virtual Dating Is The New Normal  Zach Schleien built his first company going into senior year of college called BeginU, a platform for college students to find projects and work opportunities to develop their skills. Following BeginU, he then launched his second company, Top Romp an online dating blog that reviewed hacks and apps for the modern dater. Zach then pursued his Masters in Information Management from Syracuse University where he soon launched his third company, LIFT Protein Muffins. Starting LIFT was where he first dipped his toe into crowdfunding, raising over $5,000 in 30 days on Kickstarter. That Summer he worked for bitly as a Data Analyst. While in school, he co-authored the book, Hacking The Internship Process, which became #2 bestseller for internships on Amazon. One year later he sold his first company, Top Romp. Following graduation, he secured a job in IT with Johnson & Johnson. After his friend’s passing with mental illness, Zach dedicated himself to helping people with mental illness. He launched a $9,500 project on CaringCrowd (a crowdfunding platform for non-profits) with the funds going to the National Alliance on Mental Illness – NAMI New Jersey. He attained his goal within 2 1/2 weeks. The proceeds went to the NAMI Basics program, which supported 360 parents with children who have a mental illness. Zach wanted to do more, so he teamed up with his best friend David, and launched the mental health Slack community, 18percent. With mental health awareness month coming up, he launched another project with the goal to raise $30,000 on CaringCrowd to support 600 families where at least one member of their family had a mental illness. The funds would go to NAMI El Dorado. He attained this mark within 3 weeks. Zach’s passion for helping people, combined with his love for entrepreneurship has helped him grow these companies and non-profits, allowing them to hit their crowdfunding goals. Zach currently runs, Filter Off.   Staying In Touch With Zach Schleien Website Twitter   Staying In Touch With Eric Schleien Facebook YouTube LinkedIn Twitter Instagram GSCM

Subscribe If you like The Intelligent Investing Podcast, please consider subscribing on: Apple Podcasts Stitcher TuneIn Spotify Podbean iHeart Radio   If you'd like to watch this episode on YouTube, click here.   Coronavirus Investing Series: Part 12 This is Part 12 of a special Coronavirus Investing Series. If you have not listened to Part 1, please click here to get the overall context/market overview during this unprecedented time. You can also listen to: Part 2 Part 3 Part 4 Part 5 Part 6 Part 7 Part 8 Part 9 Part 10 Part 11   Summary  In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with Jack Bosch to discuss land arbitrage. It's a pretty unique value investing strategy with low competition due to the non-scalable nature of the investment. For those interested in obscure kinds of investments, you may find this useful.   Staying In Touch With Jack Bosch Website   Staying In Touch With Eric Schleien Facebook YouTube LinkedIn Twitter Instagram GSCM  

OTC Stock Manual    If you'd like to purchase Jan Svenda's Manual Of Stock (like an updated online Walker's Manual)...click, here.     You can see samples to Jan's manual, here.   Subscribe If you like The Intelligent Investing Podcast, please consider subscribing on: Apple Podcasts Stitcher TuneIn Spotify Podbean iHeart Radio    IF YOU’D LIKE TO WATCH THE INTELLIGENT INVESTING PODCAST ON YOUTUBE, CLICK HERE.   Summary In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with Jan Svenda to discuss Vulcan International (VULC), a dark OTC stock that has an extremely nefarious and secretive history. The company is currently in liquidation and Jan believes it could potentially be an attractive investment.   Articles Vulcan International Is The Epitome Of A Dark Company | Seeking Alpha East 72 - Vulcan International Corp | Seeking Alpha   About Jan Svenda Jan is a “deep value” investor/analyst mainly focused on the US small-cap and micro-cap universe. He started out with a long-only bias (stocks trading close to NCAV etc.) which led to his interest in the OTC world. Jan now covers this space through his exclusive newsletter service where he shares his latest long ideas and a watchlist of OTC stocks which should help subscribers generate material returns and allow them to “monitor” the OTC space more efficiently. The service also acts as a community of engaged members who share the same focus. On top of this, he is interested in short-focused research especially in the thesis revolving around accountancy or earnings manipulation. From time to time he also contributes to Safety in Value’s marketplace ‘Microcap Review’.   Staying In Touch With Jan Svenda To learn more about Jan and his manual of OTC stocks, you can visit his website. He can also be reached via LinkedIn.   Staying In Touch With Eric Schleien Facebook YouTube LinkedIn Twitter Instagram GSCM   Disclosure  Eric Schleien and clients of his company Granite State Capital Management have positions Vulcan International Corp. I, Eric Schleien, recorded this podcast myself, and it expresses my own opinions. This episode should not be considered investment advice. Please do your own due diligence.

Subscribe If you like The Intelligent Investing Podcast, please consider subscribing on: Apple Podcasts Stitcher TuneIn Spotify Podbean iHeart Radio   IF YOU’D LIKE TO WATCH THE INTELLIGENT INVESTING PODCAST ON YOUTUBE, CLICK HERE.   Summary In this episode of The Intelligent Investing Podcast, I sit down with David J Flood to discuss Microwave Filter Co (MFCO). You can read more about the company on David's Blog, here.   About David Flood David runs the blog, Elementary Value, and is a private value investor based in the UK. His investing approach is grounded in the fundamental precepts of value investing based upon Ben Graham’s core concepts of ‘Intrinsic Value’ and ‘Margin of Safety’. His investment strategy involves looking at both ‘Deep Value and ‘Franchise Value’ situations and using the value investing framework to analyze the financial and corporate facets of a given prospective investment.   Staying In Touch With David Flood Twitter Blog   Staying In Touch With Eric Schleien Facebook YouTube LinkedIn Twitter Instagram GSCM

IF YOU’D LIKE TO WATCH THE INTELLIGENT INVESTING PODCAST ON YOUTUBE, CLICK HERE.  Subscribe If you like The Intelligent Investing Podcast, please consider subscribing on: Apple Podcasts Stitcher TuneIn Spotify Podbean iHeart Radio   Summary In this episode of The Intelligent Investing Podcast, I sit down with David J Flood to discuss Koss Corporation (KOSS). The company is tiny, illiquid, and has been around for decades. Koss also has high insider ownership. As some of you may know, a lot of what David buys revolves around buying stocks when they are selling below book value and the stock sat in a low range on the long-range price chart.       About David Flood David runs the blog, Elementary Value, and is a private value investor based in the UK. His investing approach is grounded in the fundamental precepts of value investing based upon Ben Graham’s core concepts of ‘Intrinsic Value’ and ‘Margin of Safety’. His investment strategy involves looking at both ‘Deep Value and ‘Franchise Value’ situations and using the value investing framework to analyze the financial and corporate facets of a given prospective investment.   Staying In Touch With David Flood Twitter Blog   Staying In Touch With Eric Schleien Facebook YouTube LinkedIn Twitter Instagram GSCM