Value Hive Podcast Brandon Beylo

This week we're continuing our Investor Audibles series with Q1 2023 letters from the following investors/funds:


Alluvial Capital
Greenhaven Road Capital
1 Main Capital

Please let me know what other letters you'd want to hear on future Investor Audible series episodes!

Finally, a big thanks to the following sponsors for making the podcast a reality.

Mitimco

This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers.

For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more!



Tegus

Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best.

I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself.



TIKR

TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive.


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Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Hey guys! This episode, we have James Davolos, from Horizon Kinetics, as a returning guest, sharing valuable insights on various topics. James discusses the nature of sticky inflation and the distinction between structural and cyclical inflation.

He also dives into the royalty business model in the precious metals industry, exploring its history and the concept of streaming agreements. James provides insights on exiting a royalty business and emphasizes the importance of conducting due diligence on high-quality royalty companies.


[0:00] Inflation is going to be sticky
[6:00] Structural vs Cyclical Inflation
[12:00] Royalty Business Model in Precious Metals
[15:00] History of the Royalty Business Model
[20:00] Streaming Agreements
[28:00] Getting out of a Royalty Business
[33:00] Due Diligence on a High Quality Royalty Company
[46:00] The worst time to be in a Royalty Business
[1:02:00] More from James and Closing Questions

If you like what you heard, find out more about Horizon Kinetics here.

Finally, thanks to the following sponsors for making the podcast a reality!

Mitimco

This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns to support MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers.

I highly recommend the site for those looking to start a stock-picking fund or learn how others have done it. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more!

Tegus

Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, all from those who know it best.

I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself.

TIKR

TIKR is THE BEST resource for all stock market data, I use TIKR daily in my process, and I know you will too. Make sure to check them out at TIKR.com/hive.


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Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

I'm stoked to share my conversation with Calvin Froedge. Calvin has one of the most unique investing backgrounds I've encountered in four years of the podcast. He didn't graduate high school. Instead, he spent his late teen years working for his dad's machinery business. He explored other business ventures in his early twenties before moving to Panama.

Today, Calvin spends his time researching new investments and running his Shipping Data company, Marhelm.

I thoroughly enjoyed this conversation. Calvin is a breath of fresh air. He brings a common sense approach to real asset investing. There's no fancy math or excel work. Calvin can explain all his investments on the back of a napkin. You will enjoy his insights.

We spend the hour discussing Petrobras $PBR, Ecopetrol $EC, and other ideas on Calvin's radar.

If you enjoyed this podcast, check out Calvin on Twitter @CalvinFroedge.

Also, Value Hive listeners get 20% off Calvin's Shipping Data service Marhelm. Just enter the code "Value" at checkout.

Finally, thanks to the following sponsors for making the podcast a reality!

Mitimco

This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns to support MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers.

I highly recommend the site for those looking to start a stock-picking fund or learn how others have done it. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more!

Tegus

Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, all from those who know it best.

I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself.

TIKR

TIKR is THE BEST resource for all stock market data, I use TIKR daily in my process, and I know you will too. Make sure to check them out at TIKR.com/hive.


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Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Hey Guys! This episode, we hear from Tavi Costa, portfolio manager at Crescat Capital, and get his insights into the precious metals industry. Tavi talks about the importance of precious metals CAPEX and explains how the demand for precious metals, specifically gold, affects the industry. He also discusses the differing opinions of gold bears. Tavi shares his thoughts on the inflation super cycle and how it impacts investing criteria. He also talks about identifying mistakes and valuing precious metals equities.


[0:00] Who is Tavi Costa?
[6:00] Precious Metals CAPEX
[22:00] PM Demand: The Use of Gold
[33:00] Gold Bears
[40:00] The Inflation Super Cycle
[50:00] Investing Criteria
[59:00] Identifying Mistakes
[1:08:00] Valuing PM Equities
[1:19:00] More from Tavi Costa and Closing Questions

If you enjoyed this podcast, please check out Otavio on Twitter @TaviCosta and read his latest research at Crescat Capital.

Finally, thanks to the following sponsors for making the podcast a reality!

Mitimco

This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns to support MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers.

I highly recommend the site for those looking to start a stock-picking fund or learn how others have done it. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more!

Tegus

Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, all from those who know it best.

I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself.

TIKR

TIKR is THE BEST resource for all stock market data, I use TIKR daily in my process, and I know you will too. Make sure to check them out at TIKR.com/hive.


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Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Hey guys! This episode features Alex Verge, CEO of Journey, who shares his insights and experiences in the energy industry. Alex explains his “buy and exploit” game plan and emphasizes the importance of owning the land.

He also talks about the cycles of the energy industry and how understanding them is crucial for success. Alex discusses the increasing costs in the energy space and shares his experiences during the 2014-2020 cycle. He reflects on the challenging times when oil prices went negative and how he and his team survived.

Towards the end of the podcast, Alex shares the lessons he has learned from surviving the March 2020 crash and what he sees coming up next in the industry.

Here's the time stamp:


[0:00] Who is Alex Verge?
[11:00] The Gameplan: Buy and Exploit
[18:00] Own the land
[32:00] The Energy Cycles
[38:00] Costs are increasing in the energy space
[43:00] Living through the 2014-2020 Cycle
[48:00] The Red Water Decision
[1:07:00] Surviving when oil went negative
[1:14:00] Lessons Learned
[1:26:00] What comes next?
[1:28:00] Closing Questions

If you enjoyed this podcast, please check out Alex on Twitter @AlexVergeJOY

Finally, thanks to the following sponsors for making the podcast a reality!

Mitimco

This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns to support MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers.

I highly recommend the site for those looking to start a stock-picking fund or learn how others have done it. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more!

Tegus

Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, all from those who know it best.

I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself.

TIKR

TIKR is THE BEST resource for all stock market data, I use TIKR daily in my process, and I know you will too. Make sure to check them out at TIKR.com/hive.


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Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Welcome to another episode of the Value Hive Podcast, folks! Today, we have a real treat for y'all as we've got Jared Dillian in the house. This guy's a top-notch writer and author of "Those Bastards," and he drops some serious knowledge bombs on us.

Now, if you're into finance and investing, you're going to love this one. Jared and I dive deep into important topics, like writing, idea generation, and the lessons we can learn from the history of finance.

We discuss Jared's approach to generating fresh and exciting ideas, and how he turns those ideas into killer content. We also chat about his experiences on Wall Street during the 2008 financial crisis, and the valuable insights he gained from that time.

Finally, Jared shares some inspiring insights into his own journey of becoming a writer.

So, grab yourself a cup of coffee, settle in, and get ready to learn from one of the best in the biz. This is gonna be one episode you don't wanna miss, folks. Let's dive in!

Here's a time-stamp:


[0:00] Intro
[2:00] Who is Jared Dillian?
[10:00] Jared’s Writing Story
[13:30] Finding your Writing Style
[17:00] Writing Routine
[21:00] Writing Mental Hurdles
[25:00] Editing
[28:00] Improving
[30:00] Favorite Writers
[35:00] Daily Dirt Nap
[37:00] Essay Finance Depraved
[40:00] A time of Spectacular Excess
[43:00] From Trading to Creating
[45:00] Lessons Learned from Writing Those Bastards
[49:00] More from Jared Dillian and Closing Questions

Finaly, thanks to the following sponsors for making the podcast a reality!

Mitimco

This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns to support MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers.

I highly recommend the site for those looking to start a stock-picking fund or learn how others have done it. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more!

Tegus

Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, all from those who know it best.

I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself.

TIKR

TIKR is THE BEST resource for all stock market data, I use TIKR daily in my process, and I know you will too. Make sure to check them out at TIKR.com/hive.


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Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support