Frazis Capital Podcast Michael Frazis

Alexander began his career investing in technology for UK funds management giant Neptune, before joining London-based VC fund Redline Capital. It's rare indeed to speak to someone with experience across the public and private side of tech investing. 

We had a fascinating chat covering robotic process automation, innovation investing, and life in venture capital vs public markets. 

https://www.linkedin.com/in/alexander-portz-3a265236/

https://www.redline-capital.com/

0:50 - Alex talks about his start in public markets
2:30 - Tech investing at Neptune Capital
3:50 - Alex discusses a high-performing company during his time at Neptune
6:20 - Michael and Alex discuss a stand-out semiconductor manufacturer
8:05 - The importance of investing in high quality companies
9:25 - Investing using an EV/Sales ratio and sales growth (Shopify as an example)
9:50 - The opportunity presented by Blue Prism
10:00 - Alex and Michael extensively discuss Blue Prism
15:05 - Alex outlines his firm's investment in Catalytic, an innovative 'SAAS-linker'
18:10 - How Alex is finding the change between public markets and venture capital (VC)
20:40 - Carrying out due diligence on a VC deal compared to public markets research (sourcing, sector research etc)
23:05 - The incentives of public companies' management to always be positive
25:45 - How Alex splits his time within VC
29:20 - Some exciting thematics, such as quantum computing
30:55 - The concept of Moore's law
33:00 - The highest quality sources of learning in quantum computing
34:24 - The opportunity in mental health software such as Catasys
36:50 - Expensive data paid for by hedge funds
39:30 - The importance of reviewing companies' real-time data before the rest of the market
41:10 - Some useful data points that can be gathered from LinkedIn
42:40 - Alex's recent public markets' investments in high growth SAAS
44:00 - Michael outlines the fund's recent strategy of buying coronavirus 'recovery plays'
47:10 - Are MongoDB and Shopify overvalued?
49:50 - Alex discusses his positive outlook on lithium
52:00 - Michael and Alex reminisce on their scientific research projects at Oxford

Eti Amegor of Axius Partners & www.suitsandkicks.com joins us to talk allocating and investing in the strange current environment.

0:52 - Opportunities during the coronavirus
1:55 - Current investor trends regarding liquidity
3:30 - The new private equity fund being launched by Eti's firm
6:30 - Why the coronavirus is the best environment for active investment managers
8:00 - Life Sciences stocks and the coronavirus
9:30 - Mike talks through Moderna, which focuses on drug discovery and  development based on messenger RNA
10:50 - Eti and Mike talk Afterpay (again)
14:00 - The endgame... Afterpay vs Paypal
16:55 - Why Frazis Capital does not buy Big Tech
17:10 - Mike introduces MercadoLibre, a new portfolio holding
18:30 - Mike introduces Sea, another new portfolio holding
20:00 - Shopify has performed superbly... is it still worth the valuation?
23:55 - Investment thematics within Frazis Capital Partners
25:20 - Mike discusses three digital health investment opportunities
28:30 - Frazis Capital's recent approach to a more diversified portfolio construction
34:30 - The fund's approach to adding new positions to the portfolio
37:10 - The underperformance of 70+ stock portfolios
41:00 - The issues that fund managers face when running highly consolidated portfolios
43:50 - Why Eti believes that Frazis Capital is in the 'sweet spot'
52:00 - Frazis Capital's up and coming webinar

Peter Stevens joins us once again - and will upload notes for this shortly. 

Michael Frazis and Peter Stevens discuss the latest developments.

Peter Stevens joins us to talk about the market sell-off, how we're positioned, and interesting opportunities that we've found. 

If you'd like to know more about us see:

www.fraziscapitalpartners.com

Peter writes his own market commentary here: 

https://insufficientcapital.com/

0:24 – Peter wipes away his tears

0:50 – There’s growth and then there’s growth (e.g. Afterpay vs Zip)

1:30 – Why you should pay up for quality businesses

2:17 – Illiquidity during sell-offs

2:50 – Electro Optic Systems (ASX:EOS), a great business that does not fit ESG criteria

3:35 – Analysing quality within the WAAAX (the Australian equivalent of the FAANG)

4:54 – Frazis Capital’s avoidance of education and tourism stocks

5:50 – Peter and Michael look at Qantas (ASX:QAN), Australia’s major airline

7:40 – Theoretically maintaining a 20% cash position

8:00 – Michael discusses Ray Dalio’s “Principles”

9:25 – Carvana (NYSE:CVNA), Frazis Capital’s largest coronavirus casualty

10:22 – Afterpay’s (ASX:APT) accelerating growth and Frazis Capital’s internal forecasts

11:40 – Afterpay’s US in-store opportunity

12:30 – The benefits of an equities/treasuries strategy over popular options strategies

13:43 – Global stimulus packages and expansionary monetary policy

14:13 – Renewable energy businesses and how they may benefit from stimulus packages

14:45 – Twist Bioscience (NASDAQ:TWST), a well-performing Frazis Capital position

15:30 – Viruses tend to become less dangerous with time because of evolutionary pressures

16:55 – Gilead’s (NASDAQ:GILD) antiviral drug and the coronavirus

17:25 – Some Aussie smallcaps touting business expansion into virus-induced growth industries (e.g. hand sanitizers, diagnostics)

18:30 – The panic in supermarkets parallels the panic on markets

19:08 – “Buy when there is blood in the streets” (Baron Rothschild) and its relevance to this sell-off

19:25 – The origins of Rothschild’s famous blood in the streets quote

20:45 – Frazis Capital portfolio construction during the coronavirus sell-off

21:55 – Zoom’s (NASDAQ:ZM) coronavirus rally and its rich valuation

23:00 – Peloton (NASDAQ:PTON) and Carnival (NYSE:CCL), two stock picks from NYU Professor, Scott Galloway

Three things you didn't know about the the virus, an Aussie company that stands to benefit, and two in the United States. Afterpay's results... this was a quick one, but a good one.
If you'd like to know more about us see:

www.fraziscapitalpartners.com

You can find Claude at 

www.arichlife.com.au

0:50 – Michael gives an update on the underlying science of the latest coronavirus

1:44 – The importance of understanding the spike protein

2:05 – Why the coronavirus is so much more infectious than SARS

3:14 – Claude shares his thoughts on how the spread of the coronavirus may play out

3:30 – Michael discusses the recent coronavirus tests using SARS antibodies

5:02 – Claude reveals his plan of action if Australian coronavirus transmission increases

6:20 – Discussion of Swine Flu

7:30 – The issue with unpredictable virus mutation

9:30 – The effects of temperature on the coronavirus

11:00 – Discussion of Biotron (ASX:BIT), an Australian biotech which could combat coronavirus

11:23 – Claude discusses his position in Teledoc (NYSE:TDOC), a company benefiting from the coronavirus

15:16 – Portfolio performance during sell-offs and the resilience of the healthcare sector

16:50 – Afterpay (ASX:APT) results discussion

21:10 – The coronavirus sell-off, a glitch in the long-term charts

23:00 – How systematic trading in markets exaggerates moves