Выпусков: 238

Yet Another Value Podcast is a new podcast from Andrew Walker, the founder of yetanothervalueblog.substack.com/. We interview top investors and dive deep into stocks and companies they are currently working on and investing in. While nothing on this channel is investing advice and everyone should do their own diligence, our goal is to frequently feature edgy and actionable value and/or event driven ideas.

Please see our legal and disclaimer at: https://yetanothervalueblog.substack.com/p/legal-and-disclaimer

Yet Another Value Podcast Andrew Walker

    • Бизнес
    • 4,5 • Оценок: 84

Yet Another Value Podcast is a new podcast from Andrew Walker, the founder of yetanothervalueblog.substack.com/. We interview top investors and dive deep into stocks and companies they are currently working on and investing in. While nothing on this channel is investing advice and everyone should do their own diligence, our goal is to frequently feature edgy and actionable value and/or event driven ideas.

Please see our legal and disclaimer at: https://yetanothervalueblog.substack.com/p/legal-and-disclaimer

    Lake Cornelia Research's Judd Arnold describes MiX Telematics $MIXT and Powerfleet $PWFL merger

    Lake Cornelia Research's Judd Arnold describes MiX Telematics $MIXT and Powerfleet $PWFL merger

    Judd Arnold, Lake Cornelia Research Management @CorneliaLake, joins the podcast to discuss the MiX Telematics $MIXT and Powerfleet $PWFL merger.

    $PWFL / $MIXT Memo: https://drive.google.com/file/d/1eONP4_CF6UPAKXYuZiDedUt2jRimujTa/view

    For more information for Lake Cornelia Research Management and Judd Arnold, you can can Follow on Twitter/X @CorneliaLake: https://twitter.com/CorneliaLake

    Chapters:

    [0:00] Introduction + Episode sponsor: Tegus

    [2:53] Overview of $MIXT / $PWFL

    [10:18] Why $MIXT / $PWFL merger is so interesting to Judd

    [21:21] Pushback on the bull case for the merger

    [27:56] Switching costs / AI

    [34:22] Open vs. closed systems

    [37:38] Management and incentives

    [48:44] Management's comments and vision post-deal

    [53:58] Thoughtful pushback Judd has received on thesis

    [59:20] Merger background

    [1:07:26] Why Judd publishes these long notes?

    Today's episode is sponsored by: Tegus

    This episode is brought to you by Tegus, the future of investment research.

    From the beginning, Tegus has been committed to creating efficiencies in the research process by making it easy to access the content that investors need to get to differentiated insights.

    Today, they’re taking it one step further by bundling qualitative content, quantitative data, and better automation and technology together in the same platform. Instead of piecing together data from fragmented sources, just log in to Tegus to get expert research, company- and industry-specific metrics and KPIs, SEC filings, and more, all under the same license cost.

    You can even take your work offline with an Excel Add-in that updates almost any model with the latest financial data — keeping all your custom formatting intact.

    Tegus is the fastest way to learn about a public or private company and the only platform you’ll need for fundamental research.

    To try it free today, visit Tegus.com/value

    • 1 ч. 14 мин.
    Matt Warder shares state of the coal markets + $AMR $HCC

    Matt Warder shares state of the coal markets + $AMR $HCC

    Matt Warder, @mfwarder on Twitter/X, joins the podcast to discuss all things Coal, including: high level thoughts on coal, investing narrative from last few years, regulation, "greening" of metallurgical coal, $AMR, $HCC, upcoming election's impact on coal investment case and more!

    You can Follow Matt Warder on Twitter/X @mfwarder: https://twitter.com/mfwarder

    Range Global Resources Coal ETF: https://rangeetfs.com/coal

    Chapters:

    [0:00] Introduction

    [1:27] High level thoughts on Coal

    [6:07] Coal's investment narrative from last few years

    [12:50] "Commodities don't die down, they die up" / down cycle in thermal coal

    [16:07] Biden admin on coal

    [21:38] Metallurgical coal ideas

    [26:17] Global cost curve for metallurgical coal "met coal" / are we mining less efficiently?

    [35:41] "Greening" of metallurgical coal?

    [42:53] Domestic coal plays $AMR

    [48:54] $HCC / Blue Creek Mine

    [57:17] Does upcoming election matter for the coal investment case

    [1:00:28] $HCC $AMR valuations

    [1:06:09] Final thoughts on coal

    • 1 ч. 9 мин.
    Broyhill Asset Management's Chris Pavese on $AVTR, pick and shovel play for life sciences

    Broyhill Asset Management's Chris Pavese on $AVTR, pick and shovel play for life sciences

    Christopher Pavese, President & Chief Investment Officer at Broyhill Asset Management, joins the podcast to discuss Avantor, Inc. (NYSE: AVTR), a leading global provider of mission-critical products and services to customers in the life sciences and advanced technology industries.

    For more information about Broyhill Asset Management, please visit: https://www.broyhillasset.com/

    Chapters:

    [0:00] Introduction + Episode sponsor: Tegus

    [1:35] As a generalist, how Chris and team arrived looking at healthcare + GLP-1 tangent

    [9:16] Overview of Avantor, Inc. $AVTR and why it's interesting to Chris

    [13:56] Laboratory Solutions (accounts for 2/3's of $AVTR revs) / how embedded is $AVTR with customer base (CDMO business)

    [20:19] VWR acquisition

    [23:02] Disconnect between reported numbers and large cap comparisons / understanding cyclicality in life sciences/healthcare

    [32:36] Variant opinion that generates alpha in $AVTR

    [37:14] Why not own $TMO or $DHR over $AVTR?

    [42:06] Capital allocation and M&A

    [46:22] Build vs. sell

    [48:35] Recovery story: bull or base case when $AVTR shared guidance

    [54:01] Return on due diligence work with $AVTR, perception as a complicated business

    [1:02:04] Tail risks

    [1:06:39] Final thoughts

    Today's episode is sponsored by: Tegus

    This episode is brought to you by Tegus, the future of investment research.

    From the beginning, Tegus has been committed to creating efficiencies in the research process by making it easy to access the content that investors need to get to differentiated insights.

    Today, they’re taking it one step further by bundling qualitative content, quantitative data, and better automation and technology together in the same platform. Instead of piecing together data from fragmented sources, just log in to Tegus to get expert research, company- and industry-specific metrics and KPIs, SEC filings, and more, all under the same license cost.

    You can even take your work offline with an Excel Add-in that updates almost any model with the latest financial data — keeping all your custom formatting intact.

    Tegus is the fastest way to learn about a public or private company and the only platform you’ll need for fundamental research.

    To try it free today, visit Tegus.com/value

    • 1 ч. 8 мин.
    Gator Capital Management's Derek Pilecki shares his thoughts on Banks and Financials in 2024

    Gator Capital Management's Derek Pilecki shares his thoughts on Banks and Financials in 2024

    Derek Pilecki, CFA, Managing Member and Portfolio Manager at Gator Capital Management, joins the podcast to have a general conversation about the Financial Sector: banks, crypto and more!

    For more information about Gator Capital Management, please visit: https://gatorcapital.com/

    Chapters:

    [0:00] Introduction + Episode sponsor: Tegus

    [1:49] What's most interesting to Derek in Financials sector today / $NYCB / Valley and Western Alliance

    [12:28] Western Alliance

    [19:43] Capital One and thoughts on Discover merger

    [28:36] Overall regulatory environment with banks and financials

    [30:51] Election and how that affects banks

    [33:26] Robinhood

    [41:47] Fannie's and Freddie's

    [47:50] $NYCB cont'd.

    [50:32] Thoughts on buybacks based on conversations with bank CEO's

    [1:01:18] Why Derek thinks banks are below average businesses

    Today's episode is sponsored by: Tegus

    This episode is brought to you by Tegus, the future of investment research.

    From the beginning, Tegus has been committed to creating efficiencies in the research process by making it easy to access the content that investors need to get to differentiated insights.

    Today, they’re taking it one step further by bundling qualitative content, quantitative data, and better automation and technology together in the same platform. Instead of piecing together data from fragmented sources, just log in to Tegus to get expert research, company- and industry-specific metrics and KPIs, SEC filings, and more, all under the same license cost.

    You can even take your work offline with an Excel Add-in that updates almost any model with the latest financial data — keeping all your custom formatting intact.

    Tegus is the fastest way to learn about a public or private company and the only platform you’ll need for fundamental research.

    To try it free today, visit Tegus.com/value

    • 1 ч. 5 мин.
    Plural Investing's Chris Waller shares thesis on industrial roll-up compounder, TerraVest $TVK.TO

    Plural Investing's Chris Waller shares thesis on industrial roll-up compounder, TerraVest $TVK.TO

    Chris Waller, Founder and CIO at Plural Investing, joins the podcast to discuss his thesis on TerraVest Industries Inc. (TSX: TVK), a manufacturer of home heating products, propane, anhydrous ammonia (“NH3”) and natural gas liquids (“NGL”) transport vehicles and storage vessels, energy processing equipment and fiberglass storage tanks.

    For more information about Plural Invest, please visit: https://www.pluralinvesting.com/

    Plural Investing write up on TerraVest $TVK.TO: https://static1.squarespace.com/static/57eff176e58c621a298bfa61/t/65c1736ea99cbe30a72634d1/1707176815309/Plural+Investing+Report+on+Terravest+%282024.01.24%29.pdf

    Chapters:

    [0:00] Introduction + Episode sponsor: Tegus

    [1:54] What is TerraVest and why are they so interesting to Chris

    [4:51] Why is TerraVest underfollowed?

    [6:47] Why can their acquire at a discount and $TVK.TO's business model, overview, value proposition

    [14:21] Propane tank industry / location moat

    [19:44] How TerraVest pulls off the reduction in steel costs

    [22:27] Why hasn't Private Equity stepped in to roll up the propane tank industry?

    [25:48] How does TerraVest get labor cost down?

    [29:35] Tanker and Boiler businesses / recent Highland Tanks acquisition

    [35:13] Terminal value questions

    [40:49] Management, insider ownership and incentives

    [44:50] Valuation / Organic growth / How much accretive acquisitions to drive real performance here

    [51:29] Cyclicality[54:27] Capital allocation

    [57:40] $TVK.TO bear case

    [1:00:46] Final thoughts

    Today's episode is sponsored by: Tegus

    This episode is brought to you by Tegus, the future of investment research.

    From the beginning, Tegus has been committed to creating efficiencies in the research process by making it easy to access the content that investors need to get to differentiated insights.

    Today, they’re taking it one step further by bundling qualitative content, quantitative data, and better automation and technology together in the same platform. Instead of piecing together data from fragmented sources, just log in to Tegus to get expert research, company- and industry-specific metrics and KPIs, SEC filings, and more, all under the same license cost.

    You can even take your work offline with an Excel Add-in that updates almost any model with the latest financial data — keeping all your custom formatting intact.

    Tegus is the fastest way to learn about a public or private company and the only platform you’ll need for fundamental research.

    To try it free today, visit Tegus.com/value

    • 1 ч. 2 мин.
    Speedwell Research's Drew Cohen shares thesis on FinTwit favorite, Constellation Software $CSU.TO

    Speedwell Research's Drew Cohen shares thesis on FinTwit favorite, Constellation Software $CSU.TO

    Drew Cohen from Speedwell Research, joins the podcast to discuss his thesis on Constellation Software (TSX: CSU), who acquires, manages and builds vertical market software businesses.

    For more information about Speedwell Research, please visit: https://speedwellresearch.com/

    Speedwell Research profile on Constellation Software: https://speedwellresearch.com/companies/reports/constellation-software/

    Chapters:

    [0:00] Introduction + Episode sponsor: Tegus

    [1:41] Who is Constellation Software and why are they interesting to Drew

    [6:05] How $CSU.TO is scaling their business model / competing with private equity

    [13:00] Reverse DCF, deploying capital, competing now with other billion dollar software businesses

    [21:02] Mark Leonard - is $CSU.TO a jockey bet / capital allocation / sellers

    [28:32] $CSU.TO - what takes this company out

    [30:57] AI risk?

    [32:52] Price increases / TransDigm comparison / competition risk

    [40:08] $CSU.TO vs. parking capital at index fund / likelihood of deploying at least 50% of their cash flow over next 10-ish years

    [45:07] Operating synergies with 6 verticals? Why not more spin-offs?

    [47:07] Additional worry about $CSU.TO - changing incentive system

    [51:58] Aside from Berkshire, what are other examples of Constellation-like culture

    [54:57] Speedwell's favorite write-ups he's done recently + quick thoughts on $RH

    Today's episode is sponsored by: Tegus

    This episode is brought to you by Tegus, the future of investment research.

    From the beginning, Tegus has been committed to creating efficiencies in the research process by making it easy to access the content that investors need to get to differentiated insights.

    Today, they’re taking it one step further by bundling qualitative content, quantitative data, and better automation and technology together in the same platform. Instead of piecing together data from fragmented sources, just log in to Tegus to get expert research, company- and industry-specific metrics and KPIs, SEC filings, and more, all under the same license cost.

    You can even take your work offline with an Excel Add-in that updates almost any model with the latest financial data — keeping all your custom formatting intact.

    Tegus is the fastest way to learn about a public or private company and the only platform you’ll need for fundamental research.

    To try it free today, visit Tegus.com/value

    • 1 ч.

Отзывы покупателей

4,5 из 5
Оценок: 84

Оценок: 84

JQC3 ,

John C

Andrew’s guest provide great insight in to the ways professional investors analyze companies. Love the deep dive format. Love the coverage of small companies I would never hear about elsewhere.

Pzbokker ,

Sound quality is horrible

The content is interesting, but recently the audio quality is so horrible I can’t listen. Too bad…

jscchhh ,

Do content. Nix ads. Get more stars.

^^^^

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