Stock Spotlight

Michael
  • 4.7 (3)
  • Investing
  • Monthly

Stock Spotlight is an independent investing podcast focused on fundamental stock research, business quality and long-term shareholder returns. Hosted by Michael, the show features company deep dives, industry comparisons, valuation analysis and investing frameworks designed to better understand what drives business performance and investment returns. Episodes also feature conversations with other investors, exploring their research processes, investment philosophies and portfolio strategies.

  1. 2d ago

    The Business of Trash: Which Waste Stock Is the Best Investment?

    Trash collection might seem like a boring business, but behind those garbage trucks and landfills are some surprisingly attractive economics. In Episode 42 of Stock Spotlight, I'm putting three of North America's largest waste operators head-to-head: Waste Management ($WM), Republic Services ($RSG) and Waste Connections ($WCN). From route density and landfill ownership to pricing power and competitive advantages, we explore what makes these businesses so difficult to disrupt. Then I dig into their historical shareholder returns and financial performance, comparing free cash flow growth, capital efficiency, operating leverage and the consistency of cash generation. Of course, a great business doesn't always make a great investment at the wrong price. That's why I'm also evaluating management incentives, capital allocation, future growth opportunities and historical valuations before building a 5-YR Total Shareholder Return (TSR) model for all three stocks. The findings aren't as straightforward as you might expect. $RSG stands out for its financial quality and management alignment, $WM has opportunities to unlock cash flow from recent investments and $WCN combines a differentiated operating strategy with the strongest modeled shareholder returns. After 5 rounds of analysis, only one company comes out on top. Tune in to find out who wins. ---------------------------------------------------------------- 00:00 Intro 01:16 Why This Comparison Matters 04:15 Performance & Correlation 07:20 Business Models 15:23 Quality Profiles 19:48 Future Growth Potential 25:33 Management & Ownership 30:13 Final Verdict 30:52 Outro ---------------------------------------------------------------- Intro Music: Andrey Rossi – Seize the Day Outro Music: Ra – Prospect *Music provided by Uppbeat Premium Follow me on X: https://x.com/invest091 Listen on YouTube: https://www.youtube.com/@stockspotlightpodcast Subscribe to my Substack: https://stockspotlightpodcast.substack.com/ ---------------------------------------------------------------- Disclosure: The host of Stock Spotlight is not a licensed financial advisor. The information and opinions shared during the show are for entertainment purposes only.

    The Business of Trash: Which Waste Stock Is the Best Investment?

  2. Oct 21

    Introducing a Composite Momentum Score for the S&P 500

    Can we systematically measure whether a business is gaining momentum and whether it's performing better or worse than Wall Street expected? In this episode of Stock Spotlight, I introduce my new Composite Momentum Score, a research framework built to evaluate business fundamentals and earnings expectations across the S&P 500 and beyond. Unlike traditional price momentum strategies, this model separates Business Momentum from Expectations Momentum, then combines the two into a single score designed to identify improving businesses, deteriorating fundamentals and potential disconnects between company performance and market expectations. I'll walk through the methodology behind the model, explain why separating these two dimensions matters, share a few surprising findings and discuss how I plan to incorporate the framework into my investment process. Over time, I hope it becomes a useful starting point for deciding where to focus my research. ---------------------------------------------------------------- 00:00 Intro 01:22 Why I Built It 02:24 The 11 Signals 04:50 How the Score Works 06:18 What Surprised Me 07:25 A Few Company Examples 09:20 How I Plan To Use It 11:19 Outro ---------------------------------------------------------------- Intro Music: Andrey Rossi – Seize the Day Outro Music: Ra – Prospect *Music provided by Uppbeat Premium Read the companion Substack article: https://stockspotlightpodcast.substack.com/p/building-a-composite-momentum-score?r=73vbqm Follow me on X: https://x.com/invest091 Listen on YouTube: https://www.youtube.com/@stockspotlightpodcast ---------------------------------------------------------------- Disclosure: The host of Stock Spotlight is not a licensed financial advisor. The information and opinions shared during the show are for entertainment purposes only.

    Introducing a Composite Momentum Score for the S&P 500

  3. Oct 5

    Building a Quality Growth Portfolio (with Will Biddy)

    In this episode of Stock Spotlight, host Michael is joined by investor and content creator Will Biddy to discuss how they build and manage quality growth portfolios. Will shares how he got started in investing, what makes a business “world class” and how he balances business quality with valuation. Michael and Will also use Toast ($TOST) and Intuitive Surgical ($ISRG) as case studies, comparing what attracted them to each company, the key metrics they follow and the risks that could challenge their investment theses. They finish by discussing position sizing, when to add or sell and a rapid-fire lightning round. ---------------------------------------------------------------- 00:00 Intro 01:14 Will's Investing Background 05:53 Defining a Quality Growth Business 11:23 Balancing Quality and Valuation 15:43 Shared Stock Case Studies 24:41 Building and Managing the Portfolio 29:49 Rapid-Fire Lightning Round 32:43 Outro ---------------------------------------------------------------- Intro Music: Andrey Rossi – Seize the Day Outro Music: Ra – Prospect *Music provided by Uppbeat Premium Follow Will on X: https://x.com/WillBiddy_/ Listen to Will YouTube: https://www.youtube.com/@Will_Biddy Follow me on X: https://x.com/invest091 Listen on YouTube: https://www.youtube.com/@stockspotlightpodcast Subscribe to the newsletter: https://stockspotlightpodcast.substack.com/ ---------------------------------------------------------------- Disclosure: The host of Stock Spotlight is not a licensed financial advisor. The information and opinions shared during the show are for entertainment purposes only.

    Building a Quality Growth Portfolio (with Will Biddy)

  4. Sep 30

    $IPAR: The Fragrance Compounder That Doesn’t Own Its Best Brands

    In this episode of Stock Spotlight, Michael takes a deep dive into Interparfums ($IPAR), the fragrance company behind major licensed brands including Coach, Jimmy Choo, Montblanc, GUESS and Lacoste. He breaks down the economics of its licensing model, brand concentration, U.S. and European operations, competitive position, financial quality, founder ownership and the upcoming 2027 product cycle that management believes could reaccelerate growth.The episode also examines $IPAR’s management incentives and key company KPIs to watch before translating the thesis into Bear, Base and Bull 5 year expected returns. With strong returns on capital and a healthy balance sheet offset by uneven free cash flow, rising marketing intensity and reliance on brands it does not own, the key question is whether Interparfums is still a durable compounder moving forward or simply a very successful tenant of valuable brand equity. ---------------------------------------------------------------- 00:00 Intro 01:50 Business Overview 09:43 Industry Overview 14:53 Quality Growth Profile 19:09 Financial Statement Overview 26:30 KPIs to Track 27:41 Leadership & Incentives 31:45 Expected Return Profile (2026-2030) 33:45 Verdict 35:15 Outro ---------------------------------------------------------------- Intro Music: Andrey Rossi – Seize the Day Outro Music: Ra – Prospect *Music provided by Uppbeat Premium Follow me on X: https://x.com/invest091 Listen on YouTube: https://www.youtube.com/@stockspotlightpodcast Subscribe to the newsletter: https://stockspotlightpodcast.substack.com/ ---------------------------------------------------------------- Disclosure: The host of Stock Spotlight is not a licensed financial advisor. The information and opinions shared during the show are for entertainment purposes only.

    $IPAR: The Fragrance Compounder That Doesn’t Own Its Best Brands

  5. Sep 29

    What 15 Years of Advising Investors Teaches You About Money (with Jon Tan)

    In this episode of Stock Spotlight, host Michael sits down with his longtime college friend and financial advisor Jon Tan to explore what more than 15 years of working with investors has taught him about building lasting wealth. They discuss how Jon’s investing philosophy has evolved, the behavioral and planning mistakes he sees investors make, why performance chasing is so difficult to avoid and what separates successful long-term wealth builders from everyone else. The conversation also covers portfolio construction, rebalancing, the role of individual stocks within a broader financial plan, when a financial advisor can add value and why investing success often comes down to a few simple habits practiced consistently. Michael and Jon then close with a lightning round covering investing books, savings rates, alpha vs. beta and the advice Jon would give his 25 year old self. ---------------------------------------------------------------- 00:00 Intro 01:18 From Marine Biology to Financial Advice 08:22 California to South Carolina 12:33 Investor Behavior 16:55 Building Better Portfolios 24:09 When a Financial Advisor Adds Value 29:50 Rapid-Fire Lightning Round 33:20 Outro ---------------------------------------------------------------- Intro Music: Andrey Rossi – Seize the Day Outro Music: Ra – Prospect *Music provided by Uppbeat Premium Email me (stockspotlight24@gmail.com) if you're interested in connecting with Jon Follow me on X: https://x.com/invest091 Listen on YouTube: https://www.youtube.com/@stockspotlightpodcast Subscribe to the newsletter: https://stockspotlightpodcast.substack.com/ ---------------------------------------------------------------- Disclosures: The host of Stock Spotlight is not a licensed financial advisor. The information and opinions shared during the show are for entertainment purposes only. References to specific securities do not constitute a recommendation from Ali Financial, Palmetto Private Wealth Management or Jonathan Tan. Opinions and forward looking statements expressed reflect the opinions of the speakers and are subject to change without notice.

    What 15 Years of Advising Investors Teaches You About Money (with Jon Tan)

  6. Aug 19

    Q2 ‘26 Portfolio Review: What I Sold, Bought & Still Own | $TOST, $BKNG

    In this episode of Stock Spotlight, host Michael opens up his portfolio and walks through what has changed since his last quarterly review, including the stocks he sold, bought and how his individual stock positions fit together today. Michael explains why he exited Nintendo ($NTDOY) and Honeywell Aerospace ($HONA), why he added Intuitive Surgical ($ISRG) and Karman Holdings ($KRMN) and then goes deeper on two current holdings: Toast ($TOST) and Booking Holdings ($BKNG). For Toast and Booking, he breaks down: ​ Why he owns each company and what has changed​ The KPIs he’s watching most closely​ The biggest debate around each stock​ How he’s thinking about valuation today​ A Green / Yellow / Red rating The goal is to make portfolio management more transparent: not just what Michael owns, but why each position earns its place and what could cause him to change his mind. ---------------------------------------------------------------- 00:00 Intro 00:50 Portfolio Snapshot 02:25 Portfolio Changes 09:55 Company 1: Toast ($TOST) 17:43 Company 2: Booking Holdings ($BKNG) 26:44 Outro ---------------------------------------------------------------- Intro Music: Andrey Rossi – Seize the Day Outro Music: Ra – Prospect *Music provided by Uppbeat Premium Follow me on X: https://x.com/invest091 Listen on YouTube: https://www.youtube.com/@stockspotlightpodcast Subscribe to the newsletter: https://stockspotlightpodcast.substack.com/ ---------------------------------------------------------------- Disclosure: The host of Stock Spotlight is not a licensed financial advisor. The information and opinions shared during the show are for entertainment purposes only.

    Q2 ‘26 Portfolio Review: What I Sold, Bought & Still Own | $TOST, $BKNG

  7. Aug 3

    $MELI: What Investors May Be Misreading Heading Into Earnings

    MercadoLibre ($MELI) is widely followed, but some of the most important parts of the investment case remain misunderstood. In this episode of Stock Spotlight, host Michael reconnects with Shivam following his trip to Brazil and his presentation on the company to professional investors. They discuss what Shivam’s local observations revealed about the strength of MELI’s ecosystem, why investors may be misreading the credit book and near-term margin pressure, and how the company is gaining ground in Mexico while confronting Chinese cross-border competition. The conversation then turns to the key questions heading into earnings: whether current spending is strengthening MELI’s moat or weakening its economics, how investors should normalize reported cash flow and whether the company is best valued through a DCF or Sum-of-the-Parts framework. The episode closes with the expectations embedded in today’s valuation, the metrics that could break the thesis and a rapid-fire round on topics not covered earlier. ---------------------------------------------------------------- 00:00 Intro 01:22 What Brazil Revealed 04:28 The Geographic Playbook 10:14 The Credit Book: Moat or Hidden Leverage? 16:13 Finding MELI's True Cash Flow 19:17 How Should Investors Value MELI? 22:24 Market Expectations Moving Forward 24:26 Rapid-Fire Questions 28:46 Outro ---------------------------------------------------------------- Intro Music: Andrey Rossi – Seize the Day Outro Music: Ra – Prospect *Music provided by Uppbeat Premium Follow me on X: https://x.com/invest091 Follow Shivam on X: https://x.com/shivamkashan Check out Shivam's website: https://kvcapitalgroup.com Listen on YouTube: https://www.youtube.com/@stockspotlightpodcast Subscribe to the newsletter: https://stockspotlightpodcast.substack.com/ ---------------------------------------------------------------- Disclosure: The host of Stock Spotlight is not a licensed financial advisor. The information and opinions shared during the show are for entertainment purposes only.

    $MELI: What Investors May Be Misreading Heading Into Earnings

  8. Jul 30

    Great Business, Bad Stock? Valuing Ferrari and Costco with Fajasy

    A great company is not automatically a great investment at any price. That is one of the hardest lessons for quality-focused investors because the better the business looks, the easier it becomes to justify paying too much. In this episode, host Michael is joined by Fajasy, founder of StableBread, to examine how much future growth is already embedded in two high-quality businesses: Ferrari and Costco. Using Residual Earnings valuation, Reverse DCF analysis and market-implied Competitive Advantage Period models, Michael and Fajasy separate the value supported by current fundamentals from the portion investors are paying for years of future growth. Why does Ferrari's premium valuation appear easier to defend? And what would Costco need to achieve for its current price to make sense? Tune in if you want a practical framework for deciding when business quality is already fully priced into a stock. ---------------------------------------------------------------- 00:00 Intro 01:17 Introducing Fajasy and StableBread 05:14 What Residual Earnings Means 12:19 Ferrari Residual Earnings Analysis 17:00 Costco Residual Earnings Analysis 21:41 Michael's Reverse DCF Analysis 25:38 Michael's Competitive Advantage Period (CAP) Model 28:21 Final Thoughts 32:11 Rapid-Fire Questions 34:58 Outro ---------------------------------------------------------------- Intro Music: Andrey Rossi – Seize the Day Outro Music: Ra – Prospect *Music provided by Uppbeat Premium Follow me on X: https://x.com/invest091 Follow Fajasy on X: https://x.com/stablebread Check out his website: https://StableBread.com Listen on YouTube: https://www.youtube.com/@stockspotlightpodcast Subscribe to the newsletter: https://stockspotlightpodcast.substack.com/ ---------------------------------------------------------------- Disclosure: The host of Stock Spotlight is not a licensed financial advisor. The information and opinions shared during the show are for entertainment purposes only.

    Great Business, Bad Stock? Valuing Ferrari and Costco with Fajasy
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Ratings & Reviews

4.7
out of 5
3 Ratings

About

Stock Spotlight is an independent investing podcast focused on fundamental stock research, business quality and long-term shareholder returns. Hosted by Michael, the show features company deep dives, industry comparisons, valuation analysis and investing frameworks designed to better understand what drives business performance and investment returns. Episodes also feature conversations with other investors, exploring their research processes, investment philosophies and portfolio strategies.

Information

  • Creator
    Michael
  • Years Active
    2024 - 2026
  • Episodes
    43
  • Rating
    Clean
  • Copyright
    © Michael
  • Show Website
    Stock Spotlight

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