Random Ramblings March 2025: the market sell off, relationships with management teams, corp gov

Yet Another Value Podcast

#Andrew Walker #Trading #Business #Value Investing

26:18

How do you know when it’s time to make your next big career move? With International Women’s Day around the corner, we are excited to feature Avni Patel Thompson, Founder and CEO of Milo. Avni is building technology that directly supports the often overlooked emotional and logistical labor that falls on parents—especially women. Milo is an AI assistant designed to help families manage that invisible load more efficiently. In this episode, Avni shares her journey from studying chemistry to holding leadership roles at global brands like Adidas and Starbucks, to launching her own ventures. She discusses how she approaches career transitions, the importance of unpleasant experiences, and why she’s focused on making everyday life easier for parents. [01:26] Avni's University Days and Early Career [04:36] Non-Linear Career Paths [05:16] Pursuing Steep Learning Curves [11:51] Entrepreneurship and Safety Nets [15:22] Lived Experiences and Milo [19:55] Avni’s In Her Ellement Moment [20:03] Reflections Links: Avni Patel Thompson on LinkedIn Suchi Srinivasan on LinkedIn Kamila Rakhimova on LinkedIn Ipsos report on the future of parenting About In Her Ellement: In Her Ellement highlights the women and allies leading the charge in digital, business, and technology innovation. Through engaging conversations, the podcast explores their journeys—celebrating successes and acknowledging the balance between work and family. Most importantly, it asks: when was the moment you realized you hadn’t just arrived—you were truly in your element? About The Hosts: Suchi Srinivasan is an expert in AI and digital transformation. Originally from India, her career includes roles at trailblazing organizations like Bell Labs and Microsoft. In 2011, she co-founded the Cleanweb Hackathon, a global initiative driving IT-powered climate solutions with over 10,000 members across 25+ countries. She also advises Women in Cloud, aiming to create $1B in economic opportunities for women entrepreneurs by 2030. Kamila Rakhimova is a fintech leader whose journey took her from Tajikistan to the U.S., where she built a career on her own terms. Leveraging her English proficiency and international relations expertise, she discovered the power of microfinance and moved to the U.S., eventually leading Amazon's Alexa Fund to support underrepresented founders. Subscribe to In Her Ellement on your podcast app of choice to hear meaningful conversations with women in digital, business, and technology.…

9 days ago 31:35

MP3•Episode home

[0:00] Introduction + Episode sponsor: Daloopa

[2:30] The market sell off

[15:45] Developing relationships with management teams

[22:02] Corporate governance and activism

[25:26] Where to live

[28:58] Planet MicroCap Showcase: VEGAS 2025 in partnership with MicroCapClub

Today's sponsor: Daloopa

Post-earnings reports are more than just a data dump—they’re a goldmine of opportunities waiting to be unlocked. And with Daloopa, you can turn those opportunities into actionable insights.

Daloopa’s dynamic scenario-building tools integrate updated earnings data, letting you model multiple strategic outcomes, like what happens if a company revises guidance upward. And with automated sensitivity analysis, you can quickly understand the impact of key variables like cost pressures, currency fluctuations, or interest rate changes.

This means you’ll deliver more actionable insights for your clients, helping them navigate risks and seize opportunities faster. Ready to enrich your post-earnings narratives? Visit http://daloopa.com/YAV today to get started.

307 episodes

Random Ramblings March 2025: the market sell off, relationships with management teams, corp gov

Yet Another Value Podcast

68 subscribers

published 9 days ago

MP3•Episode home

Chapters:

[0:00] Introduction + Episode sponsor: Daloopa

[2:30] The market sell off

[15:45] Developing relationships with management teams

[22:02] Corporate governance and activism

[25:26] Where to live

[28:58] Planet MicroCap Showcase: VEGAS 2025 in partnership with MicroCapClub

Today's sponsor: Daloopa

Post-earnings reports are more than just a data dump—they’re a goldmine of opportunities waiting to be unlocked. And with Daloopa, you can turn those opportunities into actionable insights.

307 episodes

#Andrew Walker #Trading #Business #Value Investing

All episodes

Yet Another Value Podcast

1
Plural Investing's Chris Waller on the entertainment and hospitality turnaround at Seaport $SEG 1:09:50

6 days ago1:09:50

1:09:50

Chris Waller, Founder and CIO at Plural Investing, joins the podcast for the third time to discuss his thesis on Seaport Entertainment Group Inc. (NYSE American: SEG), whose focus is to deliver unparalleled experiences through a combination of restaurant, entertainment, sports, retail and hospitality offerings integrated into one-of-a-kind real estate that redefine entertainment and hospitality. For more information about Plural Invest, please visit: https://www.pluralinvesting.com/ Plural Investing/Hidden Gems write up on $SEG: https://www.hiddengemsinvesting.com/p/special-report-seaport-entertainment Chapters: [0:00] Introduction + Episode sponsor: Fintool [2:22] What is Seaport Entertainment and why it's interesting to Chris [7:40] What is Chris seeing with $SEG that makes Seaport a risk adjusted alpha opportunity [9:20] Cash burn / is the district really that valuable, good [17:41] What attracted Andrew to $SEG - how the opportunity came about (spin off from Howard Hughes) [22:36] Ackman involvement [27:25] Overview of Pier 17 and the new lease they've got there / Meow Wolf concept [36:37] Tin Building and the vision for it / kitchen consolidation / competitive analysis [48:50] Overview of 250 Water and Vegas assets (air rights, Triple A team) [59:33] Overview of "The Historic District" [1:02:38] How the $SEG thesis doesn't play out / new management team [1:06:06] Final thoughts Today's sponsor: Fintool Fintool is ChatGPT for SEC Filings and earnings calls. Are you still doing keyword searches and going to the individual filing and using control F? That’s the old way of doing things before AI. With Fintool, you can ask any question and it’s going to automatically generate the best answer. So they may pull from a portion of an earnings call, or a 10k, whatever it may be and then answer your question. The best part- every portion of the answer is cited with the source document. Now- if you’ve tried to do any of this in ChatGPT you may know that the answers are often wrong or hallucinations. The way Fintool is able to outperform ChatGPT is their focus on the SEC filings. If you’re an analyst or a portfolio manager at a hedge fund, check them out at https://fintool.com?utm_source=substack&utm_campaign=yavb&utm_content=podcast280 See our legal disclaimer here: https://www.yetanothervalueblog.com/p/legal-and-disclaimer…

Yet Another Value Podcast

1
Random Ramblings March 2025: the market sell off, relationships with management teams, corp gov 31:35

9 days ago31:35

31:35

Welcome to the March 2025 edition of Andrew's Random Ramblings on the Yet Another Value Podcast. Once a month, Andrew will share thoughts on a few topics - this episode includes: the market sell off, relationships with management teams - pros and cons, activism and corporate governance, and where to live Chapters: [0:00] Introduction + Episode sponsor: Daloopa [2:30] The market sell off [15:45] Developing relationships with management teams [22:02] Corporate governance and activism [25:26] Where to live [28:58] Planet MicroCap Showcase: VEGAS 2025 in partnership with MicroCapClub Today's sponsor: Daloopa Post-earnings reports are more than just a data dump—they’re a goldmine of opportunities waiting to be unlocked. And with Daloopa, you can turn those opportunities into actionable insights. Daloopa’s dynamic scenario-building tools integrate updated earnings data, letting you model multiple strategic outcomes, like what happens if a company revises guidance upward. And with automated sensitivity analysis, you can quickly understand the impact of key variables like cost pressures, currency fluctuations, or interest rate changes. This means you’ll deliver more actionable insights for your clients, helping them navigate risks and seize opportunities faster. Ready to enrich your post-earnings narratives? Visit http://daloopa.com/YAV today to get started.…

Yet Another Value Podcast

1
Optimist Fund's Jordan McNamee on ThredUp's value proposition $TDUP 59:11

11 days ago59:11

59:11

Jordan McNamee, Founder and CIO of Optimist Fund, joins the podcast to share his thesis on ThredUp Inc. (Nasdaq: TDUP, LTSE: TDUP), one of the largest online resale platforms for apparel, shoes, and accessories. For more information about Optimist Fund, please visit: https://www.optimistfund.com/ Chapters: [0:00] Introduction + Episode sponsor: Daloopa [1:39] What is ThredUp $TDUP and why they are interesting to Jordan [13:45] Why is this going to be a good business in the long-term [18:16] Why are customers choosing $TDUP over eBay or other competitors / why is this enough of an opportunity (from an investment perspective) / comparison to DoorDash [30:50] Growth potential that Jordan sees [35:15] Rhymes of other marketplaces; what's different with $TDUP [41:18] What would break the $TDUP thesis for Jordan [47:17] Insider ownership [53:46] Final thoughts / current stock price Today's sponsor: Daloopa Post-earnings reports are more than just a data dump—they’re a goldmine of opportunities waiting to be unlocked. And with Daloopa, you can turn those opportunities into actionable insights. Daloopa’s dynamic scenario-building tools integrate updated earnings data, letting you model multiple strategic outcomes, like what happens if a company revises guidance upward. And with automated sensitivity analysis, you can quickly understand the impact of key variables like cost pressures, currency fluctuations, or interest rate changes. This means you’ll deliver more actionable insights for your clients, helping them navigate risks and seize opportunities faster. Ready to enrich your post-earnings narratives? Visit http://daloopa.com/YAV today to get started.…

Yet Another Value Podcast

1
Simon Kold, Author of "On the Hunt for Great Companies", on what makes a great company 47:50

16 days ago47:50

47:50

Simon Kold, Author of "On the Hunt for Great Companies" and Founder & Portfolio Manager at Kold Investments, joins the podcast to discuss what makes a great company based on his research and writing of his new book, "On the Hunt for Great Companies." You can buy your copy of Simon's new book, "On the Hunt for Great Companies" here: https://www.amazon.com/Hunt-Great-Companies-Evaluating-Durability/dp/1394285744 Chapters: [0:00] Introduction + Episode sponsor: Fintool [2:30] Why Simon decided to write the book [4:30] Authenticity of communication as an indicator of management passion / deviations from the norm [12:53] Maximizing shareholder value (pretenders vs. reality) / Founder CEOs / Project IRRs vs. buybacks [23:09] Value capture / over-earning vs. over-extraction [33:47] Industries with staying power / longer-term predictability (example of Alcohol industry) / building competitive advantages ($COST example) [44:42] Premise / value add of the book + final thoughts Today's sponsor: Fintool Fintool is ChatGPT for SEC Filings and earnings calls. Are you still doing keyword searches and going to the individual filing and using control F? That’s the old way of doing things before AI. With Fintool, you can ask any question and it’s going to automatically generate the best answer. So they may pull from a portion of an earnings call, or a 10k, whatever it may be and then answer your question. The best part- every portion of the answer is cited with the source document. Now- if you’ve tried to do any of this in ChatGPT you may know that the answers are often wrong or hallucinations. The way Fintool is able to outperform ChatGPT is their focus on the SEC filings. If you’re an analyst or a portfolio manager at a hedge fund, check them out at https://fintool.com?utm_source=substack&utm_campaign=yavb&utm_content=podcast280 See our legal disclaimer here: https://www.yetanothervalueblog.com/p/legal-and-disclaimer…

Yet Another Value Podcast

1
Alex Morris, TSOH & Author of "Buffett and Munger Unscripted", talks 2024 Berkshire Annual Letter 48:00

19 days ago48:00

48:00

Alex Morris, Author of "Buffett and Munger Unscripted" and Owner & Analyst at TSOH Investment Research, joins the podcast to discuss the 2024 Berkshire Annual Letter. You can buy your copy of Alex's new book, "Buffett and Munger Unscripted" here: hhttps://amzn.to/4asUWNi Chapters: [0:00] Introduction + Episode sponsor: Fintool [2:40] Alex's initial thoughts on Berkshire's 2024 annual letter [4:23] Was there anything different for Alex reading the letter this year (having worked on the Buffett book and spending a lot more time studying him and Berkshire) [6:52] Buffett's macro take on 2024 [9:59] Would it shock Alex if this is Buffett's last letter and/or he retires at the annual meeting [14:10] Capital allocation - changing strategy on the horizon [21:17] Discussion on $OXY [24:43] Buffett addressing his mistakes [31:08] Japanese investments [37:22] Results in the insurance business [39:27] Thoughts on Class A / Class B structure Today's sponsor: Fintool Fintool is ChatGPT for SEC Filings and earnings calls. Are you still doing keyword searches and going to the individual filing and using control F? That’s the old way of doing things before AI. With Fintool, you can ask any question and it’s going to automatically generate the best answer. So they may pull from a portion of an earnings call, or a 10k, whatever it may be and then answer your question. The best part- every portion of the answer is cited with the source document. Now- if you’ve tried to do any of this in ChatGPT you may know that the answers are often wrong or hallucinations. The way Fintool is able to outperform ChatGPT is their focus on the SEC filings. If you’re an analyst or a portfolio manager at a hedge fund, check them out at https://fintool.com?utm_source=substack&utm_campaign=yavb&utm_content=podcast280 See our legal disclaimer here: https://www.yetanothervalueblog.com/p/legal-and-disclaimer…

Yet Another Value Podcast

1
Advanced Portfolio Management: A Quant's Guide for Fundamental Investors (Fintwit Book Club) 54:01

25 days ago54:01

54:01

Welcome to the latest edition of Yet Another Value Podcast's Book Club. Once a month, Andrew and co-host, Byrne Hobart, will discuss their thoughts on the book, "Advanced Portfolio Management: A Quant's Guide for Fundamental Investors" by Giuseppe A. Paleologo. See Byrne's writing at: https://www.thediff.co/ "Advanced Portfolio Management: A Quant's Guide for Fundamental Investors" on Amazon: https://www.amazon.com/Advanced-Portfolio-Management-Fundamental-Investors/dp/1119789796 Chapters: [0:00] Introduction + Episode sponsor: Fintool [2:24] First thoughts and overall impressions of "Advanced Portfolio Management" [5:54] Which pieces do you use to implement into your investing process that Byrne picked up from this book / how they implement "stop-losses" [19:00] It's not enough to have great ideas / "it only takes one" vs. concentrated portfolio / making good calls over time [29:17] Is there anything to buying things that are classified wrong in order to generate alpha? [32:54] How much are these factor and pod-shop models gameable [40:23] How much does Byrne think matching uncorrelated data is going to be taken over by AI vs. fundamental investors going forward [48:25] Beating the bots / final thoughts Today's sponsor: Fintool Fintool is ChatGPT for SEC Filings and earnings calls. Are you still doing keyword searches and going to the individual filing and using control F? That’s the old way of doing things before AI. With Fintool, you can ask any question and it’s going to automatically generate the best answer. So they may pull from a portion of an earnings call, or a 10k, whatever it may be and then answer your question. The best part- every portion of the answer is cited with the source document. Now- if you’ve tried to do any of this in ChatGPT you may know that the answers are often wrong or hallucinations. The way Fintool is able to outperform ChatGPT is their focus on the SEC filings. If you’re an analyst or a portfolio manager at a hedge fund, check them out at https://fintool.com?utm_source=substack&utm_campaign=yavb&utm_content=podcast280 See our legal disclaimer here: https://www.yetanothervalueblog.com/p/legal-and-disclaimer…

Yet Another Value Podcast

1
Random Ramblings FEB 2025: Libra, changing your mind, lucky vs. unlucky stocks, hands-on research 29:12

30 days ago29:12

29:12

Welcome to the February 2025 edition of Andrew's Random Ramblings on the Yet Another Value Podcast. Once a month, Andrew will share thoughts on a few topics - this episode includes: Libra and Argentina, some things you've learned that changed your mind recently, lucky or unlucky stocks and doing hands-on research and personal experience. Chapters: [0:00] Introduction + Episode sponsor: Alphasense [2:45] Libra and Argentina [7:38] Changing your mind [16:32] Lucky or unlucky stocks [18:46] Hands-on research and personal experience Today's sponsor: Alphasense If you’re unfamiliar with AlphaSense, it’s a market intelligence platform with the world’s premier library of proprietary expert insight. For years now, I’ve used Tegus for their expert call transcript library, and with AlphaSense’s acquisition, the depth and breadth of market research content available has expanded significantly. Why I chose AlphaSense? Unparalleled expert insights—access 150,000+ proprietary expert transcripts, growing by 6,000 per month, covering 24,000+ public and private companies. Comprehensive market intelligence—search 450M+ documents, including company filings, analyst research, expert interviews, and more, all connected for deeper analysis. AI-powered research at scale—complete qualitative research 5-10x faster with advanced generative AI, delivering instant, high-confidence insights. Start your free trial now at: https://www.alpha-sense.com/yavp/…

Yet Another Value Podcast

1
Kerrisdale Capital's Sahm Adrangi on $ACMR's price dislocation between Shanghai and NASDAQ listings 54:45

5 weeks ago54:45

54:45

Sahm Adrangi, Chief Investment Officer at Kerrisdale Capital, joins the podcast to share his thesis on ACM Research, Inc. (NASDAQ: ACMR), develops, manufactures and sells semiconductor process equipment spanning cleaning, electroplating, stress-free polishing, vertical furnace processes, track, PECVD, and wafer- and panel-level packaging tools, enabling advanced and semi-critical semiconductor device manufacturing. Kerrisdale Capital's $ACMR write-up: https://www.kerrisdalecap.com/investments/acm-research-acmr/ For more information about Kerrisdale Capital, please visit: https://www.kerrisdalecap.com/ Chapters: [0:00] Introduction + Episode sponsor: Alphasense [3:28] What is ACM Research and why are they so interesting to Sahm [7:27] Chinese competitors [10:24] What is Sahm seeing with $ACMR that the market is missing [12:54] Discounts [15:34] $ACMR business vs. politics/regulatory risks [22:48] China risk / listing in Asian market / US-listed company with operations in China, CEO being US citizen [29:54] Is there a lack of urgency from management? (Capital Allocation strategy) [33:54] $ACMR valuation [37:33] Technical sophistication of the cleaning tools [41:19] How exposed to slow down in AI spending and business growth prospects [48:10] $ACMR final thoughts [50:39] What could go wrong / what could break $ACMR thesis for Sahm Today's sponsor: Alphasense If you’re unfamiliar with AlphaSense, it’s a market intelligence platform with the world’s premier library of proprietary expert insight. For years now, I’ve used Tegus for their expert call transcript library, and with AlphaSense’s acquisition, the depth and breadth of market research content available has expanded significantly. Why I chose AlphaSense? Unparalleled expert insights—access 150,000+ proprietary expert transcripts, growing by 6,000 per month, covering 24,000+ public and private companies. Comprehensive market intelligence—search 450M+ documents, including company filings, analyst research, expert interviews, and more, all connected for deeper analysis. AI-powered research at scale—complete qualitative research 5-10x faster with advanced generative AI, delivering instant, high-confidence insights. Start your free trial now at: https://www.alpha-sense.com/yavp/…

Yet Another Value Podcast

1
Yet Another Value's special situation: Sage Therapeutics $SAGE 36:34

5 weeks ago36:34

36:34

In today's episode of the Yet Another Value Podcast, Host, Andrew Walker, shares his thesis and presentation on Sage Therapeutics, Inc. (NASDAQ: SAGE), a biopharmaceutical company committed to pioneering solutions to deliver life-changing brain health medicines, so every person can thrive. For more information and to subscribe to the Yet Another Value Substack, please visit: https://www.yetanothervalueblog.com/ Disclosure: long SAGE Chapters: [0:00] Episode sponsor: Alphasense [3:21] Introduction - passive vs. active investing [7:32] Overview of $SAGE and why its interesting to Andrew: passive owners in the company, shareholder engagement [13:40] Biogen offer (rejected by Sage) - what happened [17:34] Expert call with OBGYN (thank you, Alphasense!) [21:38] Board needs to weigh opportunity cost of cash burn and options [25:49] Shareholder engagement and IRWD cautionary tale / SAGE board and management compensation [30:54] Biogen / Sage merger - why it makes sense and final thoughts Today's sponsor: Alphasense If you’re unfamiliar with AlphaSense, it’s a market intelligence platform with the world’s premier library of proprietary expert insight. For years now, I’ve used Tegus for their expert call transcript library, and with AlphaSense’s acquisition, the depth and breadth of market research content available has expanded significantly. Why I chose AlphaSense? Unparalleled expert insights—access 150,000+ proprietary expert transcripts, growing by 6,000 per month, covering 24,000+ public and private companies. Comprehensive market intelligence—search 450M+ documents, including company filings, analyst research, expert interviews, and more, all connected for deeper analysis.AI-powered research at scale—complete qualitative research 5-10x faster with advanced generative AI, delivering instant, high-confidence insights. Start your free trial now at: https://www.alpha-sense.com/yavp/…

Yet Another Value Podcast

1
Redwheel's Shaul Rosten unpacks thesis on French leasing company, Ayvens $AYV.PA 52:32

6 weeks ago52:32

52:32

Shaul Rosten, Equity Analyst, Global Value at Redwheel, joins the podcast to share his thesis on Ayvens ($AYV.PA), a provider of full-service leasing, flexible subscription services, fleet management and multi-mobility solutions to large international corporates, SMEs, professionals and private individuals. For more information about Redwheel, please visit: https://www.redwheel.com/uk/en/institutional/ Chapters: [0:00] Introduction + Episode sponsor: Daloopa [1:39] What is Ayvens and why are they so interesting to Shaul [3:04] What is Shaul seeing with Ayvens that the market is missing [5:46] How do they compete against capital Finco's / understanding the business, how they make money [14:58] Red flags: what's going on with the "big merger" they did (LeasePlan) [23:12] Electric vehicles [28:02] Right to grow right now [32:54] SocGen's 52% ownership [38:29] Regulatory risks [42:20] What could go wrong / what could break Ayvens thesis for Shaul [46:14] Final thoughts: revisiting question - what does Shaul think the market is missing here, how'd they do during the GFC [49:19] Financing business Today's sponsor: Daloopa Earnings season is hectic—there’s no way around it. But what if you could take back the time you spend on manual model updates? With Daloopa, you can. Daloopa automates your audit and update process, instantly pulling accurate, fundamental data from filings and reports directly into your models. That means no more wasting hours on repetitive tasks. Instead, you can focus on analyzing trends, refining strategies, and staying ahead of the competition. Stop letting manual work slow you down. Set up a free account today by visiting daloopa.com/YAV and see how Daloopa can transform your workflow.…

Yet Another Value Podcast

1
Windward's Marc Chalfin and Jay Upadhyay describes the overhaul and new vision at Groupon $GRPN 45:32

6 weeks ago45:32

45:32

Marc Chalfin, CIO, Founder & Portfolio Manager, and Jay Upadhyay, Senior Research Analyst, at Windward Management LP, join the podcast to share their thesis on Groupon (NASDAQ: GRPN). For more information about Windward Management LP, please visit: https://www.windwardmg.com/ Chapters: [0:00] Introduction + Episode sponsor: Daloopa [1:16] What is Groupon $GRPN and why is it so interesting right now to Marc and Jay [3:24] $GRPN overhaul, why now is interesting and Windward's thesis [11:49] $GRPN set up [18:26] What is Marc and Jay seeing with $GRPN that the market is missing [24:33] Inventory and Technology [31:48] SumUp / BaseRate [37:37] Final thoughts: web traffic, understanding the tailwinds Today's sponsor: Daloopa Earnings season is hectic—there’s no way around it. But what if you could take back the time you spend on manual model updates? With Daloopa, you can. Daloopa automates your audit and update process, instantly pulling accurate, fundamental data from filings and reports directly into your models. That means no more wasting hours on repetitive tasks. Instead, you can focus on analyzing trends, refining strategies, and staying ahead of the competition. Stop letting manual work slow you down. Set up a free account today by visiting daloopa.com/YAV and see how Daloopa can transform your workflow.…

Yet Another Value Podcast

1
SemiAnalysis' Jeremie Eliahou Ontiveros on the supply/demand dynamics of AI and data centers 1:03:13

7 weeks ago1:03:13

1:03:13

Jeremie Eliahou Ontiveros, Technology Analyst at SemiAnalysis, joins the podcast to share his thoughts on the supply/demand dynamics of AI and data centers. For more information about SemiAnalysis, please visit: https://semianalysis.com/ Chapters: [0:00] Introduction + Episode sponsor: Daloopa [1:22] Supply and demand dynamics of AI; perspective on data centers [9:03] Thoughts on DeepSeek; Jeremie's worry on the whole AI trade in general; AI training [13:58] Is there a rush to generate more data right now? [17:24] Jeremie's thoughts on NVIDIA [26:32] What breaks the up cycle for AI / is subscription ultimately the way to monetize AI [32:17] Interesting power plays (picks and shovels to support AI); bitcoin miners as potential AI plays [40:58] Bitcoin miner/AI play that Jeremie is interested in; deep dive on AIRian [50:27] Management activities from bitcoin miners; why are some of these companies not seeing the AI opportunity [57:26] Final thoughts on AI, bitcoin mining, power, data centers; why this all domestic activity focused Today's sponsor: Daloopa Earnings season is hectic—there’s no way around it. But what if you could take back the time you spend on manual model updates? With Daloopa, you can. Daloopa automates your audit and update process, instantly pulling accurate, fundamental data from filings and reports directly into your models. That means no more wasting hours on repetitive tasks. Instead, you can focus on analyzing trends, refining strategies, and staying ahead of the competition. Stop letting manual work slow you down. Set up a free account today by visiting daloopa.com/YAV and see how Daloopa can transform your workflow.…

Yet Another Value Podcast

1
Boldstart Ventures' Shomik Ghosh on Kelly Partners' $KPG.AX unique accounting firm roll-up strategy 1:07:07

7 weeks ago1:07:07

1:07:07

Shomik Ghosh, Partner at Boldstart Ventures, joins the podcast for the second time to discuss his thesis on Kelly Partners (ASX: KPG / OTCQX: KPGHF), a specialist chartered accounting network established in 2006 to provide a better service to private clients, private businesses & their owners, and families. For more information about Shomik Ghosh and Boldstart Ventures, please visit: https://boldstart.vc/ Chapters: [0:00] Introduction + Episode sponsor: Daloopa [2:20] Who is Kelly Partners and why they are so interesting to Shomik [5:31] What is Shomik seeing that the market is missing with Kelly Partners [9:09] $KPG's secret sauce for rolling up accounting firms / incentive risks / back office secret sauce that $KPG can do that PE firm can't [23:36] International expansion / is there enough growth runway of acquisitions [30:27] Why not relist in US from Australia? [37:10] Expanding into other areas outside accounting / AI tail risk [46:49] Management [52:13] Why are they so focused on McDonald's [55:22] Final thoughts [57:26] What does Shomik think would be the cause for the thesis breaking with Kelly Partners / how does Shomik look at fair value here [1:02:24] Quick thoughts on Match Group Today's sponsor: Daloopa Earnings season is hectic—there’s no way around it. But what if you could take back the time you spend on manual model updates? With Daloopa, you can. Daloopa automates your audit and update process, instantly pulling accurate, fundamental data from filings and reports directly into your models. That means no more wasting hours on repetitive tasks. Instead, you can focus on analyzing trends, refining strategies, and staying ahead of the competition. Stop letting manual work slow you down. Set up a free account today by visiting daloopa.com/YAV and see how Daloopa can transform your workflow.…

Yet Another Value Podcast

1
Recurve Capital's Aaron Chan on the scalability of Carvana's $CVNA business model 1:12:43

8 weeks ago1:12:43

1:12:43

Aaron Chan, Founder and Managing Partner at Recurve Capital LLC, joins the podcast to discuss his thesis on Carvana Co. (NYSE: CVNA), the leading e-commerce platform for buying and selling used cars. For more information about Aaron Chan and Recurve Capital, please visit: https://recurvecap.com/ Carvana - Recurve’s Response to Hindenburg’s Short Attack (article): https://recurvecap.com/insights/carvana-recurves-response-to-hindenburgs-short-attack Chapters: [0:00] Introduction + Episode sponsor: Daloopa [1:20] What is Carvana and why are they so interesting to Aaron [5:00] What is Aaron seeing with $CVNA thesis that that the market is missing; differentiated view on CVNA [9:39] Why the volatility and addressing that fear; factors for the wild swings [16:49] Competitive analysis - why is no one copying the $CVNA model [22:44] How much of an advantage is the national level of $CVNA's exposure [26:47] Brand building / advertising [30:30] $CVNA economics [37:09] Why are so many short sellers attracted to $CVNA [52:18] What Aaron thinks would be the reason $CVNA thesis doesn't work 3-5 years from now; downside risks to thesis [57:05] Can $CVNA profitably serve rural places and discussion on valuation [1:03:50] Why isn't every used car dealer dead and final thoughts Today's sponsor: Daloopa Earnings season is hectic—there’s no way around it. But what if you could take back the time you spend on manual model updates? With Daloopa, you can. Daloopa automates your audit and update process, instantly pulling accurate, fundamental data from filings and reports directly into your models. That means no more wasting hours on repetitive tasks. Instead, you can focus on analyzing trends, refining strategies, and staying ahead of the competition. Stop letting manual work slow you down. Set up a free account today by visiting daloopa.com/YAV and see how Daloopa can transform your workflow.…

Yet Another Value Podcast

1
1 Main Capital's Yaron Naymark on some general investor skepticism with $IWG.L thesis 1:03:32

8 weeks ago1:03:32