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The Razor’s Edge is an investing podcast that combines a prop trader’s viewpoint and deep-dive fundamental research to provide a unique take on the markets. The show is co-hosted by Akram’s Razor, a trader and investor with decades of experience and a track record of truly differentiated ideas and analysis, and by Daniel Shvartsman, a long-time editor and director for Seeking Alpha who has see thousands of investing pitches and ideas, and has seen how these things play out. The duo start with a theme or idea from Akram’s investing, then break it down to understand what goes into the idea, what could go wrong, and what else investors and traders need to know. They also interview industry leaders, executives, and other investors to get a wider perspective. The show has thousands of listeners around the world.

The Razor's Edge Shortman Studios

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The Razor’s Edge is an investing podcast that combines a prop trader’s viewpoint and deep-dive fundamental research to provide a unique take on the markets. The show is co-hosted by Akram’s Razor, a trader and investor with decades of experience and a track record of truly differentiated ideas and analysis, and by Daniel Shvartsman, a long-time editor and director for Seeking Alpha who has see thousands of investing pitches and ideas, and has seen how these things play out. The duo start with a theme or idea from Akram’s investing, then break it down to understand what goes into the idea, what could go wrong, and what else investors and traders need to know. They also interview industry leaders, executives, and other investors to get a wider perspective. The show has thousands of listeners around the world.

    The Razor's Edge #21: Captain Twilio On His Only Position, Twilio

    The Razor's Edge #21: Captain Twilio On His Only Position, Twilio

    Today’s episode continues our conversation with Captain Twilio. Our guest, a financial professional and a friend of Akram’s, invests personally in a very concentrated fashion. Last time, we spoke about his previous position, Netflix. This time, we cover his current position, that’s a single position, Twilio. Akram and he talk about why he’s so confident in the stock, the risks of such concentration, and how to think about SaaS companies or really any sort of company in the current market. Topics Covered- 5:00 minute mark – The initial TWLO long case and the inherent risks from the start  - 12:30 – The Uber ‘gift’ and the shift to selling to firms; and Flex  - 15:30 – The value of new technologies – cost savings – and do they really deliver?  - 18:15 – Uneconomic end markets for Twilio – a risk?  - 21:00 – The dynamics of pricing models, and Twilio’s competitiveness  - 28:00 – The relative value of valuation vs. focus  - 31:45 – What cost savings means for TAM analysis, and the importance of TAM analysis (or its limits)  - 36:00 – Wild IPO pricing and what it means  - 40:15 – Why the concentration  - 45:40 – Survivorship bias and growth investing  - 49:00 – Market multiples and the importance of company culture  - 53:30 – Revisiting the macro element, and what sort of 100-year events are happening  - 59:00 – Echoes of 2000  - 1:01:00 – If things go back to normal, what happens to SaaS  - 1:07:00 – Risk to Q2 earnings season and guidance   

    • 1 時間16分
    The Razor's Edge #20: Captain Twilio on Netflix's Dominant Position And The Streaming Wars

    The Razor's Edge #20: Captain Twilio on Netflix's Dominant Position And The Streaming Wars

    We're joined by friend of The Razor's Edge and professional investor Captain Twilio, as he's known. As someone who has only owned two stocks in his portfolio since 2012 - Netflix from 2012-2017 and Twilio in the three years since - he has a laser focused approach to growth investing, and it's worked. In the wake of Netflix's most recent, pandemic-fueled earnings report, we brought him on to see where he thinks the company sits, and what we all make of the report and Netflix's positioning. We also cover Captain's Twilio position at length, though that will be part two of this episode, coming out around Twilio's earnings. Topics Covered  3:30 - Background on the Captain's positioning  7:30 - Understanding the old Netflix long case and the growth investor mindset 12:30 - Why swap out? 14:30 - Attention span issue and the new threat of Tiktok 21:00 - The competitive landscape 27:00 - The old distribution vs. content question 30:00 - The streaming wars and what attrition looks like 34:30 - The most recent earnings call, and what lands are left for Netflix to conquer? 43:00 - Peak Hollywood and our changing viewing habits Relevant Links:Akram's Razor - Netflix: This Stock's Story Is OverVox - Land of the Giants Podcast Season 2

    • 53分
    The Razor's Edge #19: Superhuman Founder/CEO Rahul Vohra On Email's Enduring Role In Modern Workplace Collaboration

    The Razor's Edge #19: Superhuman Founder/CEO Rahul Vohra On Email's Enduring Role In Modern Workplace Collaboration

    Superhuman Founder/CEO Rahul Vohra speaks on The Razor's Edge about email's fundamental role in the modern, distributed workplace.

    • 1 時間10分
    The Investing Edge Announcement

    The Investing Edge Announcement

    A quick update about the programming on this channel - this channel will be only featuring the Razor's Edge going forward. To get new Value Investor's Edge Live podcasts, subscribe to the Marketplace Roundtable Podcast channel, available here:iTunes/Apple PodcastsSpotifyStitcherSeeking Alpha

    • 59秒
    The Razor's Edge #18: The Bankruptcy Market With Sam Zughayer

    The Razor's Edge #18: The Bankruptcy Market With Sam Zughayer

    One of the stranger dislocations in 2020 has been the behavior of stocks that are bound to or have already filed bankruptcy, with Hertz's offering of new equity this week as the biggest example of the phenomenon. We speak with Sam Zughayer, managing director of Berenson & Company, about what might explain this, what he's seeing, and where this may end up.Topics Covered4:00 – Where Sam gets involved in the process normally8:00 – What makes this time different14:00 – What the government learned in 2009 and how that affects things18:30 – Rule of contract law in the current climate21:00 – The implication of the Hertz ruling27:00 – The capital structure component and the structural effects for business32:00 – The Hertz precedent and effect on other bankruptcies35:00 – The longer-term legacies of this period38:30 – The problem with shale oil45:00 – Is this unhealthy? The Zombie element of sustaining firms.47:00 – And the formerly healthy companies that fall, what of them?50:00 – Looking back at stock buybacks53:00 – Will behavior change?

    • 54分
    The Razor's Edge #17: The Guidance Question For SaaS - Zoom vs. Slack and PagerDuty

    The Razor's Edge #17: The Guidance Question For SaaS - Zoom vs. Slack and PagerDuty

    We visit the software as a service sector for the third time in a row, as the earnings week we were waiting for came to pass. Zoom reported the so-called 'greatest quarter ever in software', and skewed expectations for peers like PagerDuty and Slack. So, does the market have the reaction right, and where do we go from here? Akram's Razor and Daniel Shvartsman break it down. Topics Covered2:00 minute mark – Digging into Zoom's guidance6:00 – The timing of PagerDuty and Slack's earnings (two days after Zoom's). 8:00 – What about the expansion in large clients for Zoom and potential new verticals13:30 – How did Zoom's report affect PagerDuty/Slack's reports18:00 – Why isn’t guidance going higher for some of these SaaS names?28:00 – The longer onboarding cycle for Slack/PagerDuty33:00 – The convergence of the attention economy36:00 – The Dropbox angle42:00 – Ramping up of adoption curves48:00 – Macro and sector context to keep in mind

    • 55分

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