100 episodes

Eric Schleien interviews great value investors from around the world.

The Intelligent Investing Podcast Eric Schleien

    • Investing
    • 4.8, 86 Ratings

Eric Schleien interviews great value investors from around the world.

    #107: Calloway's Nursery (CLWY) | Jan Svenda

    #107: Calloway's Nursery (CLWY) | Jan Svenda

    OTC Stock Manual
     
    If you’d like to purchase Jan Svenda’s Manual Of Stock (like an updated online Walker’s Manual)…click, here.
     
    You can see samples to Jan’s manual, here.
     
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    Summary
    Calloway's Nursery was first discussed in Episode #22.
    In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with Jan Svenda to discuss Calloway's Nursery, Inc. (CLWY).
    This may possibly be the least obscure stock that Jan has ever discussed on the show.
    The company runs a small chain of garden centers in Texas. There is an activist investor in the management who has been a good steward of capital. The original pitch was that the company was trading below liquidation while business was solid. New management came in and realized value. There’s been about an extra 10% return with special dividends. The company currently spits out $3,000,000 a year in free cash flow which is backed up by real estate and a healthy balance sheet. The company is opening up new stores. There’s also the possibility of future improvements in free cash flow. The company is currently valued at about a 10% free cash flow yield. The coronavirus should not hurt them too badly.
     
    About Jan Svenda
    Jan is a “deep value” investor/analyst mainly focused on the US small-cap and micro-cap universe. He started out with a long-only bias (stocks trading close to NCAV etc.) which led to his interest in the OTC world.
    Jan now covers this space through his exclusive newsletter service where he shares his latest long ideas and a watchlist of OTC stocks which should help subscribers generate material returns and allow them to “monitor” the OTC space more efficiently.
    The service also acts as a community of engaged members who share the same focus. On top of this, he is interested in short-focused research especially in the thesis revolving around accountancy or earnings manipulation.
    From time to time he also contributes to Safety in Value’s marketplace ‘Microcap Review’.
     
    STAYING IN TOUCH WITH JAN SVENDA
    To learn more about Jan and his manual of OTC stocks, you can visit his website.
    He can also be reached via LinkedIn.
     
    Staying In Touch With Eric Schleien
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    GSCM
     

    • 8 min
    #106: Jeremy Raper; Endor AG

    #106: Jeremy Raper; Endor AG

    For the full video interview on YouTube, click here.
     
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    Overview
    Endor AG is a Munich-listed holding company whose sole asset is Fanatec, the premium provider of racing wheels and other accessories for sim racing games played on consoles and PCs

    Despite being a German-listed small-cap, the company has ~80% market share in the premium wheel/accessories segment and has essentially locked up exclusive branding rights for all the major OEMs and racing organizations (F1/Nascar/WRC) to produce branded replica racing wheels.
     
    Growth
     
    Endor AG grew 70-80% last year and has compounded revenues at 40% over the last 10yrs, as iRacing/simulated racing has grown organically in popularity at very high rates
    COVID-19 Impact
    Current growth is exploding due to COVID-19 and the mainstream recognition sim racing has garnered with normal sports closed for the last three months.
     
    The current business is growing 100-200% per annum, so much so that the company can barely keep up with demand.
     
     
    The company has already leaked they are targeting 150-200mm in revenues at 25-30% EBIT margins in the next couple of years (versus 40mm revenues last year and 80mm this year).
     
    Going Forward
    The stock currently trades at ~11x 2021 earnings, and ~2x 2021E sales, despite a multi-year runway where the business could grow 30% for a very long time.
     
    Fair value on a 'normal' exchange with English disclosures/investor relations would probably be 4-5x the current price. Jeremy believes that even on the minor German exchange, it's hard to see how the stock doesn't double or triple again.
     
     

    Staying In Touch With Jeremy Raper
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    Twitter
     



    Staying In Touch With Eric Schleien
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    • 36 min
    #105: Pinelawn Cemetery (PLWN); An OTC Dark Stock; Jan Svenda

    #105: Pinelawn Cemetery (PLWN); An OTC Dark Stock; Jan Svenda

    OTC Stock Manual
     
    If you’d like to purchase Jan Svenda’s Manual Of Stock (like an updated online Walker’s Manual)…click, here.
     
    You can see samples to Jan’s manual, here.
     
    Other Episodes Featuring Jan Svenda
    Altair
    Vulcan International
    Millennium Investment & Acquisition Company
    Conair Corp
    Mills Music Trust
    OTC Investing Primer
     
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    IF YOU’D LIKE TO WATCH THE INTELLIGENT INVESTING PODCAST ON YOUTUBE, CLICK HERE.
     
    Summary
    In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with Jan Svenda to discuss Pinelawn Cemetery (PLWN), a dark OTC stock.
     
    Articles
    A Dark OTC Stock with a 9% Dividend Yield (Elementary Value)
     
    About Jan Svenda
    Jan is a “deep value” investor/analyst mainly focused on the US small-cap and micro-cap universe. He started out with a long-only bias (stocks trading close to NCAV etc.) which led to his interest in the OTC world.
    Jan now covers this space through his exclusive newsletter service where he shares his latest long ideas and a watchlist of OTC stocks which should help subscribers generate material returns and allow them to “monitor” the OTC space more efficiently.
    The service also acts as a community of engaged members who share the same focus. On top of this, he is interested in short-focused research especially in the thesis revolving around accountancy or earnings manipulation.
    From time to time he also contributes to Safety in Value’s marketplace ‘Microcap Review’.
     
    STAYING IN TOUCH WITH JAN SVENDA
    To learn more about Jan and his manual of OTC stocks, you can visit his website.
    He can also be reached via LinkedIn.
     
    Staying In Touch With Eric Schleien
    Facebook
    YouTube
    LinkedIn
    Twitter
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    GSCM
     
    Disclosure
    Eric Schleien and clients of his company Granite State Capital Management have no position in Pinelawn Cemetery. I, Eric Schleien, recorded this podcast myself, and it expresses my own opinions. This episode should not be considered investment advice. Please do your own due diligence.

    • 9 min
    #104: Jason Osborne; Credit Adjustments Inc, CEO; The Auto Loan Bubble; Being Agile During COVID-19

    #104: Jason Osborne; Credit Adjustments Inc, CEO; The Auto Loan Bubble; Being Agile During COVID-19

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    Summary
    In this episode, Eric sits down with Jason Osborne who is the CEO of Credit Adjustments, Inc. We discuss everything from what Jason sees as a bubble in the auto loan market to being agile as a company during COVID-19. Jason has been with his family business for over 20 years. He holds a BS in economics and mathematics from Hillsdale College.
     
    Resources From The Show
    Punished By Rewards by Alfie Kohn
    insideARM
     
    Staying In Touch With Eric Schleien
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    • 49 min
    #103: Altair (ATCD); Obscure Dark Company; Jan Svenda

    #103: Altair (ATCD); Obscure Dark Company; Jan Svenda

    OTC Stock Manual
     
    If you’d like to purchase Jan Svenda’s Manual Of Stock (like an updated online Walker’s Manual)…click, here.
     
    You can see samples to Jan’s manual, here.
     
    Subscribe
    If you like The Intelligent Investing Podcast, please consider subscribing on:
    Apple Podcasts
    Stitcher
    TuneIn
    Spotify
    Podbean
    iHeart Radio
     
     
    IF YOU’D LIKE TO WATCH THE INTELLIGENT INVESTING PODCAST ON YOUTUBE, CLICK HERE.
     
    Summary
    In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with Jan Svenda to discuss Altair (ATCD), a dark OTC stock.
     
    Articles
    Altair Corp Update (SeekingAlpha)
    Obscure, But Likely Attractive (SeekingAlpha)
     
    About Jan Svenda
    Jan is a “deep value” investor/analyst mainly focused on the US small-cap and micro-cap universe. He started out with a long-only bias (stocks trading close to NCAV etc.) which led to his interest in the OTC world.
    Jan now covers this space through his exclusive newsletter service where he shares his latest long ideas and a watchlist of OTC stocks which should help subscribers generate material returns and allow them to “monitor” the OTC space more efficiently.
    The service also acts as a community of engaged members who share the same focus. On top of this, he is interested in short-focused research especially in the thesis revolving around accountancy or earnings manipulation.
    From time to time he also contributes to Safety in Value’s marketplace ‘Microcap Review’.
     
    STAYING IN TOUCH WITH JAN SVENDA
    To learn more about Jan and his manual of OTC stocks, you can visit his website.
    He can also be reached via LinkedIn.
     
    Staying In Touch With Eric Schleien
    Facebook
    YouTube
    LinkedIn
    Twitter
    Instagram
    GSCM
     
    Disclosure
    Eric Schleien and clients of his company Granite State Capital Management have no position in Altair. I, Eric Schleien, recorded this podcast myself, and it expresses my own opinions. This episode should not be considered investment advice. Please do your own due diligence.


     

    • 12 min
    #102: David Flood; TSR Inc (TSRI)

    #102: David Flood; TSR Inc (TSRI)

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    Summary
    In this episode of The Intelligent Investing Podcast, I sit down with David J Flood to discuss TSR, Inc (TSRI).
     
     
    About David Flood
    David runs the blog, Elementary Value, and is a private value investor based in the UK. His investing approach is grounded in the fundamental precepts of value investing based upon Ben Graham’s core concepts of ‘Intrinsic Value’ and ‘Margin of Safety’. His investment strategy involves looking at both ‘Deep Value and ‘Franchise Value’ situations and using the value investing framework to analyze the financial and corporate facets of a given prospective investment.
     
    Staying In Touch With David Flood
    Twitter
    Blog
     
    Staying In Touch With Eric Schleien
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    GSCM

    • 7 min

Customer Reviews

4.8 out of 5
86 Ratings

86 Ratings

NiravPatel007 ,

Curious Mind

Simple, easy to follow lessons and ideas on investing. The only podcast on investing that you need.

Dating afficionado ,

Edgy, off-the-cuff & actionable insights

Imagine if Tim Ferriss and Warren Buffett had a baby, and he started a podcast. Eric does an outstanding job getting his guests to open up about their backgrounds and investing strategies. I’ve literally made money listening to this show.

Eric-Schleien ,

Best podcast for value investing

Great show

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