I'm excited to share my podcast with Chris Abbott of 1035 Capital. Chris is a dumpster diver investor. He scours the corners of the market looking in the ugliest places and finding the ugliest stocks. I love it. I've got a soft spot for distressed/hated ideas. Maybe its because I'm reading/studying distressed investing currently. Or maybe its because dumpster diving feels like "real" value investing. We discussed a handful of ideas, including CSSE, VTNR, LFMD, and SLNH. It's wild that Chris has fewer than 200 followers on Twitter. Let's change that. Follow him @1035_capital. Finally, thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠emergingmanagers.org⁠, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to ⁠tegus.co/valuehive⁠ for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠TIKR.com/hive⁠. Marhelm Marhelm is an information service for investors to find real value in an overvalued market. With a focus on shipping and commodities, Marhelm helps you stay on the pulse of global trade, track global sentiment, and identify compelling investment opportunities. Get 20% of your subscription by using the code VALUE at checkout. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Happy Thanksgiving! I hope you had a great time with family and friends this Holiday Weekend. This week, I've got Dan Bianchini on the podcast. Dan is a retail investor that knows more about $MEEC than almost anyone. He's heavily invested (as of this episode) in the special situation, and he spends an hour discussing why. This was a thoughtful conversation. Dan is a serious retail investor and doesn't shy away from company red flags or legitimate bear arguments. It was very refreshing. I learned a ton, and I know you will too. If you enjoyed this podcast, check out Dan on Twitter @danban__. Finally, thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠emergingmanagers.org⁠, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to ⁠tegus.co/valuehive⁠ for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠TIKR.com/hive⁠. Marhelm Marhelm is an information service for investors to find real value in an overvalued market. With a focus on shipping and commodities, Marhelm helps you stay on the pulse of global trade, track global sentiment, and identify compelling investment opportunities. Get 20% of your subscription by using the code VALUE at checkout. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

This week we're continuing our Investor Audibles series with Q3 2023 letters from the following investors/funds: ⁠Cedar Creek Capital ⁠Laughing Water Capital⁠ ⁠Alta Fox Capital Please let me know what other letters you'd want to hear on future Investor Audible series episodes! Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠emergingmanagers.org⁠, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to ⁠tegus.co/valuehive⁠ for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠TIKR.com/hive⁠. Marhelm Marhelm is an information service for investors to find real value in an overvalued market. With a focus on shipping and commodities, Marhelm helps you stay on the pulse of global trade, track global sentiment, and identify compelling investment opportunities. Get 20% of your subscription by using the code VALUE at checkout. Check it out ⁠here⁠. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

If you enjoyed this podcast, check out Calvin on Twitter @CalvinFroedge. Also, Value Hive listeners get 20% off Calvin's Shipping Data service Marhelm. Just enter the code "Value" at checkout. Finally, thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠emergingmanagers.org⁠, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to ⁠tegus.co/valuehive⁠ for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠TIKR.com/hive⁠. Marhelm Marhelm is an information service for investors to find real value in an overvalued market. With a focus on shipping and commodities, Marhelm helps you stay on the pulse of global trade, track global sentiment, and identify compelling investment opportunities. Get 20% of your subscription by using the code VALUE at checkout. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

I first interviewed Judd in April. Since then, the interview has become my most popular episode. This is partly due to Judd's acumen, deep knowledge on the subject matter, and my ability to shut up and listen. The offshore energy thesis has played out as Judd described in April. And this episode is a great way to get up to speed if you want to learn more about it. I still think we're in the early innings of this offshore energy cycle. If you'd like to learn more about Judd, DM him on Twitter ⁠@CorneliaLake⁠. Finally, thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns to support MIT's mission. To help the emerging manager community more broadly, they created ⁠emergingmanagers.org⁠, a website for emerging manager stockpickers. I highly recommend the site for those looking to start a stock-picking fund or learn how others have done it. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, all from those who know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to ⁠tegus.co/valuehive⁠ for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR daily in my process, and I know you will too. Make sure to check them out at ⁠TIKR.com/hive⁠. Capital Employed If you are seeking new investing ideas make sure you subscribe to Capital Employed.  A newsletter that interviews small and microcap fund managers who share their best ideas.  They also publish a biweekly newsletter which features a curation of excellent stock pitches from renowned investors, both private and professional.  To receive this newsletter visit ⁠⁠www.capitalemployed.com⁠⁠. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

I'm excited to have Conor Maguire on the podcast. Conor is a good friend and I can't believe it took this long to get him on the show. I enjoy Conor's work at Value Situations on Substack (link here). He's an excellent analyst who covers under-followed situations from an event-driven angle. This week, we dove deep into the Fertilizer industry and OCI. Conor shares how he goes from zero to one on a new industry, tools and tips for researching an industry, and why he chose OCI. If you liked Conor's thoughts, give him a follow on Twitter @ValueSituations Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠⁠⁠emergingmanagers.org⁠⁠⁠, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to ⁠⁠⁠tegus.co/valuehive⁠⁠⁠ for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠⁠⁠TIKR.com/hive⁠⁠⁠. Capital Employed If you are seeking new investing ideas make sure you subscribe to Capital Employed.  A newsletter that interviews small and microcap fund managers who share their best ideas.  They also publish a biweekly newsletter which features a curation of excellent stock pitches from renowned investors, both private and professional.  To receive this newsletter visit ⁠www.capitalemployed.com⁠. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

I'm excited to have Lobo Tiggre on the podcast this week. We dove deep into Junior Mining Speculation. If you like what you heard, go follow him on Twitter @duediligenceguy. Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠⁠emergingmanagers.org⁠⁠, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to ⁠⁠tegus.co/valuehive⁠⁠ for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠⁠TIKR.com/hive⁠⁠. Capital Employed If you are seeking new investing ideas make sure you subscribe to Capital Employed.  A newsletter that interviews small and microcap fund managers who share their best ideas.  They also publish a biweekly newsletter which features a curation of excellent stock pitches from renowned investors, both private and professional.  To receive this newsletter visit www.capitalemployed.com. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

I'm excited to have Keith Smith of Bonhoeffer Capital on the podcast this week. Keith previously joined The Hive almost four years ago. During our first conversation, Keith dove deep on his investment process, valuation analysis, and how he sources new ideas. This week, we dove deep on mining and metals services companies, including: FerreyCorp Wajax North American Construction (disclosure: I own some and this is NOT investment advice) Mader Group And more! If you enjoyed this podcast and want to learn more, check out Keith on Twitter @Bonhoeffer_KDS Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠emergingmanagers.org⁠, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to ⁠tegus.co/valuehive⁠ for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠TIKR.com/hive⁠. Marhelm Marhelm is an information service for investors to find real value in an overvalued market. With a focus on shipping and commodities, Marhelm helps you stay on the pulse of global trade, track global sentiment, and identify compelling investment opportunities. Get 20% of your subscription by using the code VALUE at checkout. Check it out here. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

I'm excited to have Brian Laks of Old West Capital Management on the podcast this week. Brian previously joined The Hive almost four years ago. During our first conversation, Brian dove deep on uranium and how he finds investment opportunities in the market's most hated corners. This week, we discussed a host of topics, including: Brian's Uranium thesis and how he's playing it Could tin be the next uranium? How Brian finds hated ideas Brian's research process Patience when investing in themes Doing the work before an inflection turns And more! If you enjoyed this podcast and want to learn more, check out Brian on his firm's website OldWestIm.com Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠emergingmanagers.org⁠, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to ⁠tegus.co/valuehive⁠ for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠TIKR.com/hive⁠. Marhelm Marhelm is an information service for investors to find real value in an overvalued market. With a focus on shipping and commodities, Marhelm helps you stay on the pulse of global trade, track global sentiment, and identify compelling investment opportunities. Get 20% of your subscription by using the code VALUE at checkout. Check it out here. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

I'm excited to have Toff Capital on the podcast this week. Toff is a professional investor who publishes the Substack, ToffCap.Substack.com. This week, we discussed a host of topics, including: Toff's research process Idea generation Toff's background and why he studied physics Becoming a valuation expert Specialty Chemicals Distribution ADF Group $DRX Mongolia Growth Group $YAK If you enjoyed this podcast, please check Toff out on Twitter @ToffCap. Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠emergingmanagers.org⁠, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to ⁠tegus.co/valuehive⁠ for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠TIKR.com/hive⁠. Marhelm Marhelm is an information service for investors to find real value in an overvalued market. With a focus on shipping and commodities, Marhelm helps you stay on the pulse of global trade, track global sentiment, and identify compelling investment opportunities. Get 20% of your subscription by using the code VALUE at checkout. Check it out here. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

This week we're continuing our Investor Audibles series with Q1 2023 letters from the following investors/funds: Buckley Capital Immersion Investments Greenlight Capital Please let me know what other letters you'd want to hear on future Investor Audible series episodes! Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. Marhelm Marhelm is an information service for investors to find real value in an overvalued market. With a focus on shipping and commodities, Marhelm helps you stay on the pulse of global trade, track global sentiment, and identify compelling investment opportunities. Get 20% of your subscription by using the code VALUE at checkout. Check it out here. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

I'm excited to share my first episode in my Uranium Industry Primer Series. This week, Daren Heitman of Azarias Capital joined the podcast to discuss the broad uranium bull thesis. Specifically, we discussed: Supply-side economics, drivers, incentives, and risks Demand-side economics, drivers, incentives, and risks How to structure a trade to express a bullish uranium hypothesis How to model supply and demand Getting to the 80/20 of the Uranium thesis The importance of the Fuel Cycle If you enjoyed the podcast, follow Daren and Azarias on X @AzariasCapital Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠emergingmanagers.org⁠, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to ⁠tegus.co/valuehive⁠ for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠TIKR.com/hive⁠. Marhelm Marhelm is an information service for investors to find real value in an overvalued market. With a focus on shipping and commodities, Marhelm helps you stay on the pulse of global trade, track global sentiment, and identify compelling investment opportunities. Get 20% of your subscription by using the code VALUE at checkout. Check it out here. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

I'm excited to share the replay of my conversation with Nicholas Radice. Nicholas, now gone from Twitter, shares unique insights into his investment process. We dive deep into distressed investing as Nicholas shares his strategy of combining Ian Cumming & Peter Thiel's investment philosophies to create something highly differentiated. This was my first podcast exploring the corners of distressed investing Twitter, and I know you'll love it. Hey guys! This week we have Nicholas E. Radice on the podcast. Nicholas is a distressed and real asset investor with a unique approach to markets. Nicholas is from Upstate NY and got his start in distressed investing after growing up in the midst of a manufacturing collapse in his hometown. After graduating from Cornell University, Nicholas worked under famous distressed investor Ian Cumming, before starting his own private investment holding company, backed by Peter Thiel.  This podcast dives into Nicholas's unique investment approach as he combines lessons from Cumming and Thiel into the forgotten corners of the markets like microcaps, dark stocks, and real asset plays.  If you enjoyed this conversation, make sure to follow Nicholas on Twitter @NICKRADICAL4.  Here's a time-stamp of our discussion:  [0:00] Introduction  [6:00] Reducing Complexity  [9:02] Finding What Matters Most [16:15] Defining Circle of Competence [28:00] Short Term Skeptic, Long Term Optimist [35:00] Lessons from Ian Cumming & Peter Thiel [60:00] Discarding Ideas Quickly [72:00] Dark Stocks, OTC Stocks, and Microcap Ideas [74:23] Mistakes of Omission  [80:05] Closing Questions Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠emergingmanagers.org⁠, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to ⁠tegus.co/valuehive⁠ for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠TIKR.com/hive⁠. Marhelm Marhelm is an information service for investors to find real value in an overvalued market. With a focus on shipping and commodities, Marhelm helps you stay on the pulse of global trade, track global sentiment, and identify compelling investment opportunities. Get 20% of your subscription by using the code VALUE at checkout. Check it out here. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Also, a big thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠emergingmanagers.org⁠, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to ⁠tegus.co/valuehive⁠ for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠TIKR.com/hive⁠. Marhelm Marhelm is an information service for investors to find real value in an overvalued market. With a focus on shipping and commodities, Marhelm helps you stay on the pulse of global trade, track global sentiment, and identify compelling investment opportunities. Get 20% of your subscription by using the code VALUE at checkout. Check it out here. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

This week we're continuing our Investor Audibles series with Q1 2023 letters from the following investors/funds: Gator Capital Palm Harbour Capital SaltLight Capital Please let me know what other letters you'd want to hear on future Investor Audible series episodes! Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. Marhelm Marhelm is an information service for investors to find real value in an overvalued market. With a focus on shipping and commodities, Marhelm helps you stay on the pulse of global trade, track global sentiment, and identify compelling investment opportunities. Get 20% of your subscription by using the code VALUE at checkout. Check it out here. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

This week we engage in a conversation with John Evans, CEO of Subsea 7. The discussion covers a wide range of topics, including the history and dynamics of the offshore space, factors crucial for success, the structure of the offshore value chain, customer relationships, barriers of entry, and future industry prospects. John also addresses misconceptions about Subsea 7 and provides insights into managing backlog. [0:00] Who is John Evans? [7:00] The History of the Offshore Space [13:00] Things need to succeed [15:00] The Offshore Value Chain [30:00] Customer Base [40:00] Business Relationship [45:00] Supply, Demand, and Barriers of Entry [55:00] What is to come? [1:00:00] Managing Backlog [1:11:00] Misconceptions about Subsea7 [1:14:00] More from John Evans, Subsea7 & and closing questions. Also, a big thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠emergingmanagers.org⁠, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to ⁠tegus.co/valuehive⁠ for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠TIKR.com/hive⁠. Marhelm Marhelm is an information service for investors to find real value in an overvalued market. With a focus on shipping and commodities, Marhelm helps you stay on the pulse of global trade, track global sentiment, and identify compelling investment opportunities. Get 20% of your subscription by using the code VALUE at checkout. Check it out here. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

I'm excited to share the two-year anniversary of the most popular Value Hive episode to date! This week we chat with Dan McMurtrie, co-founder and Portfolio Manager of Tyro Partners. Tyro manages assets for Institutions and High Net Worth Individuals. We utilize a deep dive research process focused on evaluating the secular trends and supply chains driving Technology, Healthcare, Industrial, and Consumer markets. Today Dan joins The Hive for a three-hour podcast with topics ranging from post-consciousness, Maslow's Hierarchy of Needs, Fad Investing, and Lessons For Emerging Managers.  Dan is a fantastic investor and an even better human. I hope you listen to the show in its entirety as Dan continually drops knowledge bombs about life as an emerging manager.  If you don't already, please follow Dan on Twitter @SuperMugatu. Also, if you're interested in Dan's firm Tyro Partners, check them out here. Also, a big thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠emergingmanagers.org⁠, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to ⁠tegus.co/valuehive⁠ for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠TIKR.com/hive⁠. Marhelm Marhelm is an information service for investors to find real value in an overvalued market. With a focus on shipping and commodities, Marhelm helps you stay on the pulse of global trade, track global sentiment, and identify compelling investment opportunities. Get 20% of your subscription by using the code VALUE at checkout. Check it out here. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

I'm excited to share my latest conversation with Derrek aka @real_MikeBarnes on Twitter. Derrek is a retail trader who specializes in resource stocks, particularly gold miners. I like Derrek because he's a multi-dimensional investor. Not only does he invest in resource stocks, but he's also heavily invested in names like Nintendo $NTDOY and Phillip Morris $PM. You will love this conversation. Derrek is a real trader and a testament to the value of the FinTwit community. If you like what you heard, follow Derrek on Twitter @real_MikeBarnes Also, a big thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠emergingmanagers.org⁠, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to ⁠tegus.co/valuehive⁠ for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠TIKR.com/hive⁠. Marhelm Marhelm is an information service for investors to find real value in an overvalued market. With a focus on shipping and commodities, Marhelm helps you stay on the pulse of global trade, track global sentiment, and identify compelling investment opportunities. Get 20% of your subscription by using the code VALUE at checkout. Check it out here. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

This week we're continuing our Investor Audibles series with Q1 2023 letters from the following investors/funds: Alluvial Capital Laughing Water Capital Cedar Creek Capital Please let me know what other letters you'd want to hear on future Investor Audible series episodes! Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. Marhelm Marhelm is an information service for investors to find real value in an overvalued market. With a focus on shipping and commodities, Marhelm helps you stay on the pulse of global trade, track global sentiment, and identify compelling investment opportunities. Get 20% of your subscription by using the code VALUE at checkout. Check it out here. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

A big thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠emergingmanagers.org⁠, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to ⁠tegus.co/valuehive⁠ for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠TIKR.com/hive⁠. Marhelm Marhelm is an information service for investors to find real value in an overvalued market. With a focus on shipping and commodities, Marhelm helps you stay on the pulse of global trade, track global sentiment, and identify compelling investment opportunities. Get 20% of your subscription by using the code VALUE at checkout. Check it out here. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

This week our guest is Avram (or Avi) Fisher. Avi discusses his Perfect Investment Hypothesis, highlighting key factors that make an investment ideal. The conversation then delves into the topic of the industrials supercycle, exploring trends and dynamics in the industrial sector. Avi also discusses construction accounting and its complexities. Additionally, Avi highlights Matrix Service ($MTRX) as an investment opportunity. [0:00] Who is Avi Fisher? [9:00] The Perfect Investment Hypothesis [13:00] Industrials Supercycle [18:00] Construction Accounting [33:00] Matrix Service ($MTRX) [1:00:00] More from Avram Fisher and Closing Questions Finally, a big thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠emergingmanagers.org⁠, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to ⁠tegus.co/valuehive⁠ for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠TIKR.com/hive⁠. Marhelm Marhelm is an information service for investors to find real value in an overvalued market. With a focus on shipping and commodities, Marhelm helps you stay on the pulse of global trade, track global sentiment, and identify compelling investment opportunities. Get 20% of your subscription by using the code VALUE at checkout. Check it out here. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

This week we have Jeremy Rapper as a returning guest. We had a very interesting discussion on what I call Social Activism. He discusses lessons on shorting, including the Silicon Valley Bank case. The conversation then shifts to event-driven investing with the Hunter Douglass Saga as an example of Social Activism.Jeremy also provides insights on Japanese capitalism and the importance of idea generation through pattern recognition. He mentions FAR Limited ($FAR.ASX) as another example of Social Activism and touches on commodity investing. [0:00] Catch Up since Last Podcast [4:00] Lessons on Shorting: Silicon Valley Bank [19:00] Event Driven Inverting: The Hunter Douglass Saga [38:00] Japanese Capitalism [58:00] Idea Generation < Pattern Recognition [1:02:00] FAR Limited ($FAR.ASX) [1:08:00] Commodity Investing [1:35:00] More from Jeremy and Closing Questions Finally, a big thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠emergingmanagers.org⁠, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to ⁠tegus.co/valuehive⁠ for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠TIKR.com/hive⁠. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Hey Guys! This week we have Judd Arnold as a returning guest. Judd discusses why Tidewater is the best energy stock at the moment. He explores offshore opportunities, like VAL, RIG, and NE. Judd highlights the importance of liquidity and provides insights on finding post-bankruptcy ideas. He also mentions Pagaya (PGY) as an interesting company and shares additional investment ideas. [0:00] Why Tidewater is the best? [10:00] You are long CAPEX, not price. [15:00] Sub Sea 7 [25:00] Offshore opportunities ($VAL $RIG $NE) [30:00] Liquidity is King [40:00] Finding Post Bankruptcy Ideas [55:00] Pagaya $PGY [1:20:00] Other Ideas Finally, a big thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠emergingmanagers.org⁠, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to ⁠tegus.co/valuehive⁠ for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠TIKR.com/hive⁠. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Hey all! I am on vacation with my wife's family this week and do not have a new episode! Instead, I'm replaying one of my most popular podcasts, "Shrubbery Capital Pt. 2." The podcast has grown since that original airing and new Value Hive listeners should learn a ton from The Shrub! This episode was all about idea generation, what happens when we go from an Inflationary Environment to Recessionary Environment, why he is bullish on Bayer ($BAYN) and how at the end of the day most analyst in the industry are Tik Tok investors. Check out the time stamp below: [0:00] What has changed the last time we talked? [5:00] From Inflationary Environment to a Recessionary Environment [18:00] Idea Generation: Betting on Farfetch [32:00] Bayer ($BAYN): Bull Thesis [55:00] Learning about the Energy Industry [1:07:00] Tik Tok Investing [1:12:00] More from Shrub Capital and Closing Questions If you like what you heard, go follow Shrub on Twitter @agnostoxx.  Finally, a big thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Hey guys! I'm stoked to have Mike Alkin on the podcast this week. Mike runs Sachem Cove Capital, a private investment fund. Mike is known as the "Uranium Guy" on Twitter and this week he provides the Ultimate Uranium Crash Course. It's everything you need to get up to speed on the Uranium Bull Thesis. We discuss supply/demand drivers, how to build demand and supply models, forecasting potential uranium prices, and how to structure a trade based on the underlying macro/fundamental thesis. I know you'll love this episode. If you enjoy it, check out Mike on Twitter @Footnotesfirst. Check out the time-stamp here: [0:00] Who is Mike Alking? [2:00] The Uranium Industry [20:00] The supply and Demand Model [30:00] Decorbanization [43:00] The best risk reward in the Uranium Value Chain [1:00:00] Input Cost Inflation [1:15:00] The Uranium Bear Case [1:26:00] More from Mike Alkin and Closing Questions Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

I hope you guys enjoy this podcast with Thomas Bachrach, Principal at PFH Capital. This is Thomas's third time on the show and I always learn something when we chat. This week, Thomas pitches NRP, discusses how value investors can underwrite mining/commodity stocks, and other interesting ideas in Latin America that have his attention. If you enjoyed this episode, please follow Thomas on Twitter @PFHCapital and check out his website pfhcapital.com Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

This week we're continuing our Investor Audibles series with Q1 2023 letters from the following investors/funds: Alluvial Capital Greenhaven Road Capital 1 Main Capital Please let me know what other letters you'd want to hear on future Investor Audible series episodes! Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Hey guys! This episode, we have James Davolos, from Horizon Kinetics, as a returning guest, sharing valuable insights on various topics. James discusses the nature of sticky inflation and the distinction between structural and cyclical inflation. He also dives into the royalty business model in the precious metals industry, exploring its history and the concept of streaming agreements. James provides insights on exiting a royalty business and emphasizes the importance of conducting due diligence on high-quality royalty companies. [0:00] Inflation is going to be sticky [6:00] Structural vs Cyclical Inflation [12:00] Royalty Business Model in Precious Metals [15:00] History of the Royalty Business Model [20:00] Streaming Agreements [28:00] Getting out of a Royalty Business [33:00] Due Diligence on a High Quality Royalty Company [46:00] The worst time to be in a Royalty Business [1:02:00] More from James and Closing Questions If you like what you heard, find out more about Horizon Kinetics here. Finally, thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns to support MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. I highly recommend the site for those looking to start a stock-picking fund or learn how others have done it. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, all from those who know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR daily in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

I'm stoked to share my conversation with Calvin Froedge. Calvin has one of the most unique investing backgrounds I've encountered in four years of the podcast. He didn't graduate high school. Instead, he spent his late teen years working for his dad's machinery business. He explored other business ventures in his early twenties before moving to Panama. Today, Calvin spends his time researching new investments and running his Shipping Data company, Marhelm. I thoroughly enjoyed this conversation. Calvin is a breath of fresh air. He brings a common sense approach to real asset investing. There's no fancy math or excel work. Calvin can explain all his investments on the back of a napkin. You will enjoy his insights. We spend the hour discussing Petrobras $PBR, Ecopetrol $EC, and other ideas on Calvin's radar. If you enjoyed this podcast, check out Calvin on Twitter @CalvinFroedge. Also, Value Hive listeners get 20% off Calvin's Shipping Data service Marhelm. Just enter the code "Value" at checkout. Finally, thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns to support MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. I highly recommend the site for those looking to start a stock-picking fund or learn how others have done it. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, all from those who know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR daily in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Hey Guys! This episode, we hear from Tavi Costa, portfolio manager at Crescat Capital, and get his insights into the precious metals industry. Tavi talks about the importance of precious metals CAPEX and explains how the demand for precious metals, specifically gold, affects the industry. He also discusses the differing opinions of gold bears. Tavi shares his thoughts on the inflation super cycle and how it impacts investing criteria. He also talks about identifying mistakes and valuing precious metals equities. [0:00] Who is Tavi Costa? [6:00] Precious Metals CAPEX [22:00] PM Demand: The Use of Gold [33:00] Gold Bears [40:00] The Inflation Super Cycle [50:00] Investing Criteria [59:00] Identifying Mistakes [1:08:00] Valuing PM Equities [1:19:00] More from Tavi Costa and Closing Questions If you enjoyed this podcast, please check out Otavio on Twitter @TaviCosta and read his latest research at Crescat Capital. Finally, thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns to support MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. I highly recommend the site for those looking to start a stock-picking fund or learn how others have done it. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, all from those who know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR daily in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Hey guys! This episode features Alex Verge, CEO of Journey, who shares his insights and experiences in the energy industry. Alex explains his “buy and exploit” game plan and emphasizes the importance of owning the land. He also talks about the cycles of the energy industry and how understanding them is crucial for success. Alex discusses the increasing costs in the energy space and shares his experiences during the 2014-2020 cycle. He reflects on the challenging times when oil prices went negative and how he and his team survived. Towards the end of the podcast, Alex shares the lessons he has learned from surviving the March 2020 crash and what he sees coming up next in the industry. Here's the time stamp: [0:00] Who is Alex Verge? [11:00] The Gameplan: Buy and Exploit [18:00] Own the land [32:00] The Energy Cycles [38:00] Costs are increasing in the energy space [43:00] Living through the 2014-2020 Cycle [48:00] The Red Water Decision [1:07:00] Surviving when oil went negative [1:14:00] Lessons Learned [1:26:00] What comes next? [1:28:00] Closing Questions If you enjoyed this podcast, please check out Alex on Twitter @AlexVergeJOY Finally, thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns to support MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. I highly recommend the site for those looking to start a stock-picking fund or learn how others have done it. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, all from those who know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR daily in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Welcome to another episode of the Value Hive Podcast, folks! Today, we have a real treat for y'all as we've got Jared Dillian in the house. This guy's a top-notch writer and author of "Those Bastards," and he drops some serious knowledge bombs on us. Now, if you're into finance and investing, you're going to love this one. Jared and I dive deep into important topics, like writing, idea generation, and the lessons we can learn from the history of finance. We discuss Jared's approach to generating fresh and exciting ideas, and how he turns those ideas into killer content. We also chat about his experiences on Wall Street during the 2008 financial crisis, and the valuable insights he gained from that time. Finally, Jared shares some inspiring insights into his own journey of becoming a writer. So, grab yourself a cup of coffee, settle in, and get ready to learn from one of the best in the biz. This is gonna be one episode you don't wanna miss, folks. Let's dive in! Here's a time-stamp: [0:00] Intro [2:00] Who is Jared Dillian? [10:00] Jared’s Writing Story [13:30] Finding your Writing Style [17:00] Writing Routine [21:00] Writing Mental Hurdles [25:00] Editing [28:00] Improving [30:00] Favorite Writers [35:00] Daily Dirt Nap [37:00] Essay Finance Depraved [40:00] A time of Spectacular Excess [43:00] From Trading to Creating [45:00] Lessons Learned from Writing Those Bastards [49:00] More from Jared Dillian and Closing Questions Finaly, thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns to support MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. I highly recommend the site for those looking to start a stock-picking fund or learn how others have done it. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, all from those who know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR daily in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Hey guys! In the latest episode of The Value Hive Podcast, I had the pleasure of speaking with Will Thomson, the managing partner at Massif Capital. Will's investment focuses on tangible assets that can help decarbonize the world. Throughout our conversation, we covered various topics related to investing in this space. We started by discussing the importance of copper and cobalt in transitioning to a lower-carbon future. Will shared his insights on how to evaluate companies that produce these metals. He also discussed where he finds the most attractive investment opportunities along the mining value chain. Will then shared his bear theses for copper and explained his thoughts on the risks associated with investing in this metal. We also delved into the intricacies of valuing mining companies and how to approach this task as an investor. Throughout the episode, Will provided several book recommendations that have influenced his thinking and approach to investing. Whether you're interested in investing in tangible assets or simply looking to broaden your industry knowledge, plenty of value can be gained from this insightful conversation. Overall, this episode of The Value Hive Podcast with Will Thomson was an engaging and informative discussion on investing in tangible assets to decarbonize the world. If you're interested in learning more about this topic, be sure to give it a listen. Finally, thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns to support MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. I highly recommend the site for those looking to start a stock-picking fund or learn how others have done it. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, all from those who know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR daily in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Hey guys! This week I'm stoked to have Judd Arnold on the podcast. Judd runs Lake Cornelia Research Management, a hedge fund and bespoke investment research firm. Judd joined The Value Hive to break down the Offshore Energy Industry. Most of the podcast discusses convexity, how to find it within the offshore space, and how to compare various convexity levels between industry opportunities. You can easily tell Judd knows his industry inside out, which makes for a highly educational (and entertaining!) conversation. If you'd like to learn more about Judd, DM him on Twitter @CorneliaLake. Finally, thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns to support MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. I highly recommend the site for those looking to start a stock-picking fund or learn how others have done it. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, all from those who know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR daily in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

This week we're continuing our Investor Audibles series with Q4 2022 letters from the following investors/funds: SRK Capital HCM Capital Bonhoeffer Capital Please let me know what other letters you'd want to hear on future Investor Audible series episodes! Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

I hope you guys enjoy my podcast with Twitter's own WTI Realist. We spend nearly 90 minutes dissecting the oil bull thesis, emphasizing under-followed parts of the value chain like midstream and royalty businesses. If you enjoyed the podcast, please follow WTI Realist on Twitter here. Also, check out his Substack here! Here's the time-stamp: [0:00] Meet our guest, WTI Realist [7:00] The Simplicity of the Oil Industry [14:45] Understanding the “Full Cycle” in the Oil Industry [16:30] Should Exploration and Production (E&P) Companies Hedge? [23:00] Dividends vs Buybacks vs Paying Down Debt: Maximizing Shareholder Value [30:00] Importance of Reserve Life in the Oil Industry [34:00] WACC vs Interest Rates vs Discount Rates: Which is the Best Metric? [41:00] The Royalty Business (PrairieSky Royalty $TSX:PSK): Exploring the Benefits [49:00] How to Identify the Best E&P? The Role of Management [1:00:00] Spotlight on Pine Cliff (TSX:PNE) [1:09:00] Exploring Frontera Energy ($FEC) [1:16:00] Is the Oil Market Getting Boring? [1:23:00] More Insights from WTI Realist and Closing Questions Finally, thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns to support MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. I highly recommend the site for those looking to start a stock-picking fund or learn about how others have done it. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, all from those who know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR daily in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Hey guys! This week we're excited to have our friend Harris Kupperman (aka Kuppy) back on the podcast. Kuppy is a dear friend and one hell of an investor. We spend the podcast discussing the idea of patience and boredom as keys to successful investing. We also touch on Kuppy's Inflection Investing framework. Finally, we dive deep into one of Kuppy's newest equity positions: Journey Energy (JOY). Full disclosure, Kuppy owns ~2% of the company and I own shares in my retirement account. Please do your own work. None of this is investment advice. If you like what you hear, please follow Kuppy on Twitter @hkuppy. Also, check out his Event-Driven product KEDM.com. Give it a free test drive and see for yourself. You might not want to trade without it. Finally, a big thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns to support MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, all from those who know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR daily in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Hey guys! This week is all about Post Bankruptcy Investing and we have Ferguson Cullen to show us his investing philosophy. He explained his concept of Subsidized Asymmetry, how he tries to not become an emotional Basket Case, investing in Peabody Energy, what are the red and green flags when you invest in bankruptcy ideas, how to find ideas and how he manages his portfolio, they exits and build a position. [0:00] Investing Journey [9:00] Using Social Media to Gauge Sentiment [15:00] Analyzing a Post Bankruptcy. Subsidized Asymmetry [23:00] Peabody Energy $BTU [26:00] Emotional Basket Case [32:34] Red Flags [38:00] Green Flags [41:00] Wrong Data [46:00] Finding Bankruptcy Ideas [51:00] Exiting a Position [56:30] Portfolio Construction: Sizing [1:05:00] More from Ferguson and Closing Questions If you enjoyed the podcast, please follow Ferg on Twitter @trader_ferg. Also, check out his Substack here.  Finally, a big thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns to support MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Hey Guys! This week we have Christine Guerrero. She is one of the most unique guests from our Oil & Gas Journey. She has spent actual time working as an Engineer in various Energy Producers. She shares how she got into the industry, why scalability is very important, her favorite stocks ($HES, $APA, $CGXEF & $FECCF), what are good unit economics, and what was like investing in energy companies when oil went negative. [0:00] Who is Christine Guerrero? [7:30] Working in Chevron ($CVX) [13:00] Deepwater Drilling [16:00] How to Analyze Margins and Scalability [18:00] Shale Drilling [24:00] Hess Corporation ($HES) [30:00] Investing When Oil went Negative: Selling Your House [39:00] APA Corporation ($APA) [45:00] Suriname and Guyana [49:00] Oil Small Cap Investing ($CGXEF & $FECCF) [1:04:00] Assessing Management [1:07:00] What are good unit economics? [1:10:00] How to learn the energy industry? [1:16:00] Talos Energy ($Talo) [1:24:00] Different Energy Subsectors [1:26:00] More from Christine and Closing Questions Make sure to go follow Christine on Twitter @SheDrills! Finally, a big thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns to support MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

This week our guest is the number one performing manager from last year the one and only Josh Young, from Bison Interest. During our conversation we talk all things about the Onshore and Offshore Energy Space, the most common mistakes naive investors make, managing an energy portfolio and position sizing, what are Drilled but Uncompleted and what are some of Josh’s favorite books. [0:00] Introduction and book recommendations. [8:00] The onshore space [18:00] How to approach the onshore value chain ($VTLE, $DVN) [33:00] Common Mistakes naive investors make. [36:00] Drilled but Uncompleted (DUC) Wells [44:00] The Offshore Space [1:02:00] Portfolio Management: Position Sizing [1:07:00] Hurdle Rates [1:17:00] A day in the life with Josh Young [1:21:00] Closing Question and More From Josh Young If you enjoyed the podcast, please follow Josh on Twitter here. Also check out his new Substack here. Finally, a big thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns to support MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

We continue our pilgrimage through the oil and gas space and today we have Victor Swishchuck from Letko Brosseau to help us dive into the upstream section of the Energy Sector. Victor gives us a summary of what it means to really understand the energy sector from zero to one. We go from understanding the different types of crude oil to the different types of Upstream Oil and Gas Businesses, to how to value them and the most common pitfalls every naive investor faces when getting into the industry. [0:00] Who is Victor Swishchuck? [5:00] Intuition Guided by Experience [10:00] Studying Credit and Bonds before Equities [18:00] Analyzing the Energy Sector: From Zero to One [30:00] What does it mean for Oil to be Sweet, Sour, light, etc [42:00] Upstream Oil and Gas Businesses [1:00:00] Valuation: Implied Oil Price by Reversed NAV. [1:13:00] Common Pitfalls and Where can you get burned? [1:30:00] How to learn the industry? [1:47:00] Closing Questions and more from Victor Swishchuck Finally, a big thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns to support MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Hey Guys! This week is another episode on our 3 Month Journey through every corner of the energy space. Our guest today is Brian Gritt and he is kind enough to help us understand some of the myths surrounding the energy industry. We learn about his background, how he changed his mind from only solar energy to a more diverse portfolio of energy sources, why we should’t demonize fossil fuels, why Nuclear Energy is the best energy return / energy invested source, the downside of wind energy, and why relying on battery metals is a national security issue. Check out the time stamp below: [0:00] Brian Gritt’s Background [3:00] Energy Myths [7:50] The Process of Changing Your Mind [15:30] We shouldn’t demonized Fossil Fuels [23:00] People Embrace Technology when is better. [28:00] Is a National Security Issue to rely on Battery Metals. [33:00] Could Electric Utilities become High Growth? [37:00] Nuclear Energy: Is the best Energy Return / Energy Invested? [48:00] Wind Energy is too Uneconomical. [52:00] More from Brian and Closing Questions. If you enjoyed the podcast, check out Brian on Twitter @BrianGitt. Finally, a big thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

This week we're continuing our Investor Audibles series with Q4 2022 letters from the following investors/funds: Praetorian Capital  Gator Capital Management Maran Capital  Please let me know what other letters you'd want to hear on future Investor Audible series episodes! Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Hey Guys! This week we are back for a second round with the anonymous account @agnostoxxx aka The Shrub. This episode was all about idea generation, what happens when we go from an Inflationary Environment to Recessionary Environment, why he is bullish on Bayer ($BAYN) and how at the end of the day most analyst in the industry are Tik Tok investors. Check out the time stamp below: [0:00] What has changed the last time we talked? [5:00] From Inflationary Environment to a Recessionary Environment [18:00] Idea Generation: Betting on Farfetch [32:00] Bayer ($BAYN): Bull Thesis [55:00] Learning about the Energy Industry [1:07:00] Tik Tok Investing [1:12:00] More from Shrub Capital and Closing Questions If you like what you heard, go follow Shrub on Twitter @agnostoxx.  Finally, a big thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Hey Guys! This week our guest is Rory Johnston. He is the savant of all things oil. We discussed how he became an energy analyst, oil’s volatile history, how energy companies started caring about profitability and forgetting about growth at all cost, what is shale energy, the oil and field services and how to understand supply and demand data. [0:00] Who is Rory Jonhston? [7:30] The Energy Lost Decade [16:00] Where to start learning the energy industry? [22:00] Oil is Technology. [27:00] Oil’s Volatile History [32:00] Profitability > Growth [34:00] What is shale oil? [40:00] Oil and Field Services [42:00] Pressure Pumping and Labor Most Likely to Benefit the Most [50:00] The Stone Age did not end for the lack of stones. [52:00] Understanding Demand and Supply: Inventories, Futures Curve, [55:00] Supply and Demand Data: IEA, OPEC, Energy Information Agency [1:05:00] Where to learn? [1:16:00] More from Rory Johnston and Closing Questions Finally, a big thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Hey Guys! This week’s topic is about global outperformers and our guest Dede Eyesan is here to share his knowledge. Last year, Dede published a book titled Global Outperformers, where he studied listed companies that returned more than 1,000% in 10 years. Throughout this episode we get to know who Dede Eyesan is, the process of researching 10 baggers, what are some similarities 10 baggers share between themselves, the differences between a profitable vs an unprofitable 10 bagger, differences between geographies and how we should implement the lessons learned. Make sure to follow Dede on Twitter. Here is the time stamp below:   [0:00] Who is Dede Eyesan? [6:00] Researching Companies that are 10 baggers. [8:00] Factor Analysis on 10 baggers. [16:00] Unprofitable Companies vs Profitable Companies [20:00] Results of Market Cap vs Returns [23:00] Returns and Geography: India [35:00] Chinese Outperformers [45:00] Japanese Outperformers [55:00] Swedish Outperformers [1:01:00] Implementing the Lessons Learned [1:15:00] More from Dede and Closing Questions Finally, a big thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Hey guys! Hope you're 2023 is off to a great start! I'm stoked to share the first interview of 2023! This week, I sat down with Nathalie Sinyard, a Behavioral Economist who specializes in studying burnout. That's right. The thing you and I do, but quietly tell ourselves its okay because we're "grinding." That thing.  Nathalie dispelled a lot of myths I had around burnout. I also opened up about my personal struggles with burnout. Things I still struggle with today.  I found this conversation tremendously enjoyable and I know you will too. There are practical tools you can use to reduce burnout when you're in it, as well as prevent it before it occurs.  If you enjoyed this podcast, check out Nathalie on Twitter @NathalieRach. Also check out her Behavioral consulting agency Cadence Behavioral.  Here is the time-stamp of our conversation:  [0:00] Who is Nathalie Synyard? [6:00] What is Burnout? [11:00] Burnout Stages [21:00] Personal Experience with Burnout [28:00] Burnout and OCD [31:00] Success and Burnout [34:00] Motivation vs Discipline [37:00] Burnout Effects on the Body [40:00] Energy Audits [44:00] The Power of Nature [50:00] Burnout Positives? [54:00] How to avoid Burnout? [01:02:00] More from Nathalie and Closing Questions Finally, a big thanks to the following sponsors for making the podcast a reality! Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

This week we're continuing our Investor Audibles series with Q3/Q4 2022 letters from the following investors/funds: Vlata Fund (Q4 Letter) Greenhaven Road Capital (Q3 Letter) Tourlite Capital (Q3 Letter) Please let me know what other letters you'd want to hear on future Investor Audible series episodes!  Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support