SkiesCapital Captain’s Log

Captain Pierce
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A calm, disciplined investing podcast breaking down earnings, business quality, valuation, and long-term thesis risk through an aviation lens. Hosted by Captain Pierce of SkiesCapital.

Episodes

  1. May 13

    How to Evaluate REITs: AFFO, Dividend Safety & Rate Risk

    REITs require a different instrument panel. This episode explains the gauges investors should use before buying real estate through the stock market. In this Day 17 SkiesCapital episode, Captain Pierce breaks down how to evaluate Real Estate Investment Trusts using REIT-specific gauges instead of standard stock metrics that can mislead investors. We cover why P/E and EPS often fail for REITs, why AFFO matters more than FFO for dividend safety, how to use P/AFFO and AFFO Yield for valuation, and how to think about payout ratios, leverage, occupancy, same-store NOI, cap rates, sector context, and interest-rate sensitivity. The goal is simple: use the right gauges to separate durable REIT income from fragile yield. Topics covered:AFFO and FFOAFFO payout ratioP/AFFO and AFFO YieldNet Debt / EBITDAreOccupancy and same-store NOICap ratesREIT sector differencesInterest-rate sensitivity Think Clearly. Invest Better. For educational purposes only. Not investment advice.

    42 min

  2. May 12

    Novo Nordisk Q1 2026: Wegovy Pill Beat Changes the NVO Thesis

    Novo Nordisk just reported Q1 2026 earnings, and the setup changed. Heading into the quarter, NVO was flying through rough weather: pricing pressure, Ozempic slowing, Lilly competition, and questions about whether the GLP-1 growth story was weakening. But Q1 gave the thesis its first real lift in several quarters. In this Captain’s Log, we review the Wegovy pill launch, adjusted sales pressure, the 340B reversal, Ozempic trends, Lilly and Foundayo competition, Novo’s raised guidance, valuation after earnings, and the price zones where NVO may become more attractive. My conclusion: the thesis is improving, valuation looks attractive, but the right posture is still discipline — not chasing aggressively. For educational purposes only. Not investment advice.

    19 min

  3. May 8

    Stryker Q1 2026 Earnings Review | Captain’s Log | SYK

    Stryker’s Q1 2026 quarter missed on revenue and earnings after a late-quarter cyber incident disrupted manufacturing and delayed shipments. But did the business actually break? In this Captain’s Log, I break down: what missedwhat heldthe key headwindsvaluation after the selloffwhat price makes SYK worth boardingwhat I need to see in Q2Hosted by Captain Pierce of SkiesCapital. Think Clearly. Invest Better. This episode is for educational purposes only and is not investment advice.

    21 min

  4. May 7

    GOOGL Q1 2026 Earnings Review | Cloud +63% | Captain’s Log

    Alphabet reported a critical Q1 2026 quarter, with Google Cloud growth accelerating 63% and the investment case looking stronger than many expected. In this Captain’s Log, I break down: what the quarter provedwhat mattered mostthe key risksvaluation after earningswhat I’m watching nextHosted by Captain Pierce of SkiesCapital. Think Clearly. Invest Better. This episode is for educational purposes only and is not investment advice.

    23 min
  • 4 Episodes

About

A calm, disciplined investing podcast breaking down earnings, business quality, valuation, and long-term thesis risk through an aviation lens. Hosted by Captain Pierce of SkiesCapital.

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