Stock Talking

My guest today is Jeffrey Kamys, Chief Investment and Portfolio Manager at Baseline Investments and Inherent Wealth Fund, where he manages the iBET Sports Betting & Gaming ETF (IBET). Jeffrey walks through the current landscape in sports betting in the US today and what the path to legalization looks like. I get Jeffrey's takes on disparities in valuations in sports gambling, including discounts in European companies (FLTR), brick ...

My guest today is J Mintzmyer, Head of Research at Value Investor's Edge and my favorite follow on all things shipping. J discusses where he thinks we are in the shipping cycle and how he gauges risk / reward based on company-specific and industry-specific factors. J uses this risk / reward framework to talk through International Seaways (INSF), Scorpio Tankers (STNG), Danaos (DAC) and more. I get J's thoughts on opportunities in c...

My guest today is Twebs (https://twitter.com/twebs). Twebs writes The Asymmetry Infantry (https://twebs.substack.com/) and is host of Single Stock Spaces (RSS feed: https://api.substack.com/feed/podcast/487271/private/05bd0330-8d56-4df0-8ad3-9051293c432a.rss). He spent 15+ years on the buy side and chats with me on lessons learned there, specifically on what good research looks like. We discuss Twebs' Double Dog Index (https://tweb...

Nick Widmer discusses how NFTs will figure greatly into our relationship with products and services. We talk about LinksDAO and other projects where NFTs could represent value beyond the aesthetic and unlock physical goods and services in the future. Nick discusses why the current ecosystem is the way it is, including the incentives of influencers, advertisers and exchanges, and how that ecosystem could change in the future.

I high...

Diligent Dollar (https://diligent-dollar.com/) and I discuss his Value Trap Coffee Can Portfolio (VTCCP). We discuss the five names currently in VTCCP ($STRT, $ALSN, $AXL, $ANF and $CATO) and why opportunities exist specifically in auto suppliers and retail. Diligent also pitches Bath and Bodyworks ($BBWI) and the potential for the stock to be a compounder with strong organic growth and buybacks. We close out with some updates on T...

"If we talk in two years, I'll be shocked if Nike isn't issuing NFTs."

- Nick Widmer

Nick Widmer (https://nickwidmer.substack.com/, https://twitter.com/nfwidmer) returns to the show to talk about non-fungible tokens, Web3 and the next generation of brand building. Nick explains to me why NFTs are a logical vehicle for companies to use to build their brands. I walked away from this conversation with a much better understanding of NF...

I explain why I think the stock market puck is going to the movie theater industry and how turbo poker tournaments are my mental model for market cycles. I review Cinemark's 2021 quarterly earnings call and why CEO Mark Zoradi's comments demonstrate that 2H 2021 and 2022 are going to be an amazing time for the box office.

Book recommendations:

- The Biggest Bluff, Maria Konnikova https://www.amazon.com/dp/B082ZQYGSL/

- Thinking i...

I discuss why I'm a big fan of Apple's buyback strategy and think buybacks are a better use of capital than acquisitions, any capex they could do, debt paydown, keeping the cash or raising the dividend. Based on the company's capital allocation strategy and earnings growth, Apple still is a great buy and one of my top holdings.

Some links I mention in the show:

- Berkshire 2020 letter - https://www.berkshirehathaway.com/letters/202...

Diligent Dollar is back to explain how he finds opportunities in levered companies that scare away most equity investors. Diligent talks through several examples including Platform Specialty Products (now Element Solutions) to highlight scenarios where debt to EBITDA multiples don't tell the whole story. We discuss Diligent's Civeo ($CVEO) thesis (lodging and hospitality for mining) and dive into the company's de-leveraging story, ...

Phil Andrews of Cathie's Ark returns for an awesome discussion on ARK and how the Cathie's Ark website and trading floor provide valuable data and commentary to the ARK community. Phil responds to the ARK bears and debunks some popular narratives on ARK’s exposure to a sell-off triggered by illiquidity. We discuss the best ARK portfolio holdings to buy during drawdowns and why Phil believes $ARKG is the ETF most well situated to th...

The Impervious and I come together to talk about the market’s new all-time highs and the crush in implied volatility. For once, we both agree energy is well positioned to benefit from technical (potential short squeeze, high amount of options traded) and fundamental (supply constrained, demand growing) factors. Sean talks about opportunities in uranium, implied volatility, gold miners and more. I discuss recent changes in my own po...

I bought both Nintendo (NTDOY) and National CineMedia (NCMI) this week and use this podcast to explain my thinking. I preview Nintendo's earnings ahead of its February 1st Q3 release and discuss why I think growth expectations are too low. Next, I react to the Wall Street Journal's recent article on National CineMedia and the revelation they've engaged lawyers to work with senior lenders. Should NCMI equity holders be concerned abo...

My guest today is Phil Andrews, the creator of Cathie’s Ark (cathiesark.com). I use Cathie’s Ark almost daily to source investing ideas by looking at trade data from the ARK Invest ETFs. Phil has done an amazing job making this data understandable and actionable.

Phil gives the backstory behind Cathie's Ark and the underlying sources of data for the website. He explains the many reasons for changing fund compositions in ARKK, ARKW,...

Sean and I talk about the potential implications of the SolarWinds breach and how we are in the early innings of this developing story. We react to the in-podcast announcement of Congress agreeing to a $900 billion stimulus package and debate to what extent the market has priced in fiscal action. The Impervious breaks down friends of the pod $CRWD, $NET, $SDC and the banks. We also reflect on $TSLA's stunning $50 billion market cap...

Chris Seifel of Seifel Capital Management comes on to talk free cash flow in high growth companies, shortcomings in using P/S multiples, the CANSLIM method, why he is wary of investing in small caps, CrowdStrike’s incredible growth runway and artificial intelligence. Chris’s depth and breadth of knowledge on cyber security and AI - as well as how these opportunities distill down to specific companies and free cash flow growth - mad...