109 episodes

The Marketplace Roundtable Podcast features interviews with our Marketplace authors about their investing approach, views on the market today, and some of their favorite investing ideas.
The Seeking Alpha Marketplace is a platform for investing services that helps investors take their investing to the next level. Authors provide exclusive ideas, subscriber chat rooms, model portfolios, and one-on-one access with subscribers. In these interviews, you’ll hear how these authors approach their investing and how they try to improve their process and results over time, and hopefully it will give you a few ideas for how to raise your investing game.

Marketplace Roundtabl‪e‬ Seeking Alpha

    • Investing

The Marketplace Roundtable Podcast features interviews with our Marketplace authors about their investing approach, views on the market today, and some of their favorite investing ideas.
The Seeking Alpha Marketplace is a platform for investing services that helps investors take their investing to the next level. Authors provide exclusive ideas, subscriber chat rooms, model portfolios, and one-on-one access with subscribers. In these interviews, you’ll hear how these authors approach their investing and how they try to improve their process and results over time, and hopefully it will give you a few ideas for how to raise your investing game.

    The Bullish Case For The Containership Sector Is Clearer Than Ever

    The Bullish Case For The Containership Sector Is Clearer Than Ever

    In this special iteration of the Marketplace Roundtable, Daniel Shvartsman interviews J Mintzmyer, Head of Research at Value Investor's Edge. J reviews the current shipping market conditions and outlines the bullish thesis in the containership sector. Several top picks in the sector are reviewed along with a macro overview for 2021.
    Show Notes


    2:30 – The different sectors of shipping


    4:00 -  The containership thesis/trade


    6:30 – The core drivers for the containership sector


    9:30 – The port clogging issue in containerships


    13:00 – How long can this run last?


    17:30 – Breaking down the economics and key variables


    19:00 – Why is this not just a repeat of the tankers story?


    21:30 – How these rates fit into historical cycles


    24:15 – What do costs look like for container leasers


    26:00 – What about a COVID hangover as spending shifts to experiences and away from goods


    28:30 – J’s favorite sector picks: DAC, NMCI, ATCO


    31:30 – SA PRO: Diving into the ZIM long case


    35:00 – Catching up on Value Investor’s Edge


    39:45 – Importance of diversification in the shipping sector and managing volatility


    Learn more about your ad choices. Visit megaphone.fm/adchoices

    • 44 min
    Three ETF Picks For 2021 With BOOX Research

    Three ETF Picks For 2021 With BOOX Research

    After 15 years as an analyst at top financial institutions, Dan Victor stepped out on his own in 2018 as an independent investor and market strategist. The result is his increasingly popular Seeking Alpha handle, BOOX Research, where he combines a data-driven, fundamentals-first approach to offer nearly daily stock and ETF ideas, as well as his Seeking Alpha Marketplace service, Conviction Dossier. In today's podcast, we stress test three of his' top ETF picks for 2021: Emerging Markets (IEMG), shorting the long-end of the Treasury yield curve (TBF) and international dividend growth (VIGI).
    Show Notes

    2:15 - BOOX Research's back-story

    3:15 - What does it take for an investor to be sufficiently diversified?

    8:15 - Process for finding new investing ideas

    9:45 - Top ETF picks for 2021: 1) iShares Core MSCI Emerging Markets ETF (IEMG)

    13:15 - After a decade of underperformance, what's the long case of emerging markets right now?

    16:00 - Why IEMG over other comparable ETFs like (EEM), (VWO) and (SCHE)?

    23:45 - Top ETF picks for 2021: 2) ProShares Short 20+ Year Treasury ETF (TBF)

    34:15 - Top ETF picks for 2021: 3) Vanguard International Dividend Appreciation ETF (VIGI)

    39:30 - Would you recommend the US-focused version of VIGI, (VIG)?


    Learn more about your ad choices. Visit megaphone.fm/adchoices

    • 45 min
    Insights From 6-Bagger Danaos Corp. (DAC)

    Insights From 6-Bagger Danaos Corp. (DAC)

    Evangelos Chatzis, CFO of Danaos Corp. (DAC), a major containership lessor, joined J Mintzmyer's Value Investor's Edge Liveon Nov. 12, 2020, to discuss the containership markets and forward free cash flow potential.
    Danaos was a top pick at the time at Value Investor's Edge and traded at a more than 50% discount to net asset value even as underlying market conditions were surging. We had allocated shares to this position at $5.05 in early-September, making DAC a potential 6-bagger as of the 2nd week of January (6x in 4 months). Admittedly DAC outperformed even our wildest expectations and our current 'fair value estimate' is $25/sh. 
    Show Notes


    (1:30) Intro/Disclosures 


    (1:30) What are the primary drivers of the containership market strength? 


    (6:00) Any more opportunities to acquire ships in this market? 


    (8:15) Discussion on current adjusted NAV. 


    (9:50) Locking in lower cost interest rates? Target liquidity levels? 


    (14:00) Potential for more private share repurchases? 


    (15:30) Excess free cash for distribution or investments? Dividend plans? 


    (22:30) Upcoming plans for the Gemini Joint Venture? 


    (23:30) How far ahead can vessels be fixed? For what duration? 


    (27:00) Impact of rechartering levels on future free cash flow? 


    Learn more about your ad choices. Visit megaphone.fm/adchoices

    • 35 min
    Navigating Product Tanker Markets With Ardmore Shipping (ASC)

    Navigating Product Tanker Markets With Ardmore Shipping (ASC)

    Paul Tivnan, CFO of Ardmore Shipping (ASC), a leading product tanker shipping company, joined J Mintzmyer's Value Investor's Edge Live on Nov. 17, 2020, to discuss the product tanker markets and forward capital allocation priorities. Ardmore trades at a nearly 50% discount to net asset value, so their repurchase program is of particular interest. This interview and discussion of the underlying product markets is relevant for anyone with tanker investments or interests, including Diamond S (DSSI), DHT Holdings (DHT), Euronav (EURN), Frontline (FRO), International Seaways (INSW), Navios Acquisition (NNA), Nordic American Tankers (NAT), Scorpio Tankers (STNG), Teekay Tankers (TNK), Torm (TRMD), and Tsakos Energy Navigation (TNP).
    Topics Covered


    (1:20) Intro/Disclosures


    (1:30) Update on product tanker market? Any near-term optimism? 


    (6:00) What is the expected impact of new refineries on ton mileage? 


    (8:30) How much is lower jet fuel demand impacting trade? 


    (10:30) Updated capital allocation policy? Repurchases? 


    (13:45) Levers to build liquidity? Timeframe for repurchase program? 


    (17:30) Commentary on repurchase program. Interest in selling ships? 


    (22:30) Focus on per share returns for capital allocation? 


    (24:50) What is your current estimate of ‘excess liquidity?’ 


    (28:00) Justification for rejecting HAFNIA offer? Trading below that range? 


    (32:50) How do your ‘Eco-Mod’ ships compare to Eco-Design ships? 


    (35:15) Differentiating factors of ASC's chemical tankers? 


    (37:00) Reasonable timeline for product tanker markets to normalize?


    Learn more about your ad choices. Visit megaphone.fm/adchoices

    • 42 min
    Containership Market Profits With Global Ship Lease (GSL)

    Containership Market Profits With Global Ship Lease (GSL)

    The full management team of Global Ship Lease (GSL), a leading containership company, joined J Mintzmyer's Value Investor's Edge Live on Nov. 12, 2020, to discuss the containership transport markets and forward opportunities and refinancing prospects into 2021. We were joined by Executive Chairman George Youroukos, CEO Ian Weber, CFO Tassos Psaropoulos, and CCO Thomas Lister. This interview and discussion of the underlying containership markets is relevant for anyone with interest in GSL or in related containership shipping companies, including Atlas Corp (ATCO), Capital Partners (CPLP), Costamare (CMRE), Danaos Corp (DAC), Euroseas (ESEA), Matson (MATX), MPC Containers (MPZZF), Navios Containers (NMCI), Navios Partners (NMM), and SFL Corp (SFL).
    Topics Covered

    (1:30) Intro/Disclosures 


    (1:35) What is driving containership markets up, how long can it last? 


    (7:45) Is this rally sustainable? What are the recent charter structures? 


    (15:15) Progress on the debt refinancing? Reasonable timeline? 


    (18:00) Plans with preferred and/or baby bond issuances? 


    (20:00) Dividend commentary? Near-term potential? 


    (22:30) Potential asset acquisition opportunities? 


    (26:30) How many charter rolls occur during Q4-20 and early 2021? 


    (27:15) Primary market strength indications and risk factors? 


    (29:45) Differentiating factors for Panamax and Post-Panamax tonnage? 


    (37:00) Is a mid-2021 timeline for refinancing realistic? 


    Learn more about your ad choices. Visit megaphone.fm/adchoices

    • 40 min
    Surging LNG Markets: Flex LNG Insights

    Surging LNG Markets: Flex LNG Insights

    Oystein Kalleklev, CEO of Flex LNG (FLNG), a leading ultramodern LNG shipping company, joined J Mintzmyer's Value Investor's Edge Live on Nov. 24, 2020, to discuss the LNG shipping markets and forward opportunities and capital allocation priorities for Flex LNG. This interview and discussion of the underlying LNG global markets is relevant for anyone with LNG shipping or LNG export infrastructure investments, including Cheniere (LNG), Cheniere Partners (CQP), GasLog (GLOG), GasLog Partners (GLOP), Golar LNG (GLNG), Golar LNG Partners (GMLP), Hoegh LNG Partners (HMLP), Teekay LNG Partners (TGP), and Tellurian (TELL).
    Topics Covered

    (1:20) Intro/Disclosures


    (1:20) Current state of the LNG market?


    (7:20) Expected duration of winter strength? Impact to market balance?


    (11:40) Views on the current orderbook overhang?


    (17:20) Economics on ship classes? When will vintage ships be scrapped?


    (23:30) Breakdown of the $30-$50kpd difference in rates between vintage steam propulsion ships and modern MEGI/X-DF tonnage.


    (25:50) Review of capital allocation priorities at FLNG into 2021-2022.


    (31:30) How does repurchasing shares today compare with newbuilds?


    (35:15) Thoughts on deleveraging as a priority today?


    (37:30) Dividend policy and forward payout potential?


    (44:30) Liquidity requirement and target levels?


    (49:10) What are the key risk factors and things to watch into 2021?


    Learn more about your ad choices. Visit megaphone.fm/adchoices

    • 55 min

Top Podcasts In Investing

Listeners Also Subscribed To

More by Seeking Alpha