Pitch The PM

Get early episode drops, episode feedback from HF's & LO's, & the PTPM Job Board on Substack: https://pitchthepm.substack.com "I see a tsunami heading to that space. And it feels like the investors are just very complacent and sitting on the beach.""It really is going to be winner take all. You can justify spending almost anything to make sure you are the consumer ag...

Free Personalized AI Moderator Trial “If you want to generate alpha, you can’t be sharing all this information.” “That interviewer needs to think and feel and act like you do. It needs to have all the context that you do.” “We’re just making primary research faster, cheaper, and embedded. If I had to summarize the whole thing, that’s what Qualitate is doing.” Sagar Kadakia has spent nearly 20 year...

Carmen Li, CEO of Silicon Data and Compute Exchange, joins the show to explain how compute is becoming a brand-new asset class. A former energy options market maker at DRW who later ran global data integrations at Bloomberg, Carmen was pre-seeded by DRW founder Don Wilson to build the GPU industry benchmarks. Silicon Data is the referee — "the Bloomberg for compute" — while Compute Excha...

My long time confidant, Jarrett Harris, Director of Research at IronAdvisor Insights joins the show to share his latest insights. He is quintessentially mid-western and was my go to source for learning about the on the ground pulse of the industrial economy when I was at Citadel and Millennium. As part of IronConnect, a heavy equipment industry service provider, Jarrett has unparalleled access to...

Prediction markets are surging, but DraftKings is moving in the opposite direction. Is the issue market share? Rising customer acquisition costs? Or simply a reset from last year’s growth expectations? In this episode, Bernie McTernan, CFA, Managing Director and Senior Analyst at Needham & Company, breaks down the rapidly changing prediction-market landscape. We discuss Kalshi’s first-mover ad...

Chandler Bocklage spent nearly two decades working alongside Steve Cohen, managing a portfolio before leading Business Development at Point72. In this episode, we discuss what separates good investors from great ones, how Point72 develops portfolio managers, why intellectual curiosity matters more than almost anything else, and how AI is reshaping the future of fundamental investing. If you've...

In 2001, Ed Salib walked into TimesSquare Capital Management as the firm's first intern. Twenty-five years later, he's co-PM of the TimesSquare Quality Mid Cap Growth ETF ($TSCM). So what does a 25-year fundamental investor do when one of the market's most debated stocks goes on sale? Ed passed on DoorDash's 2021 IPO, kept it in his research “bullpen,” and bought the 20% sell-off o...

In 2019, Ken Griffin, Founder & CEO of Citadel, was looking for some of the best risk-takers on Wall Street. He landed on Rich Falk-Wallace, then a top analyst at Viking, who went on to become a Portfolio Manager at Citadel’s Surveyor Capital. So what comes next after becoming a PM at Citadel at 29? For the past five years, Rich has been building Arcana, a financial technology platform designe...

Daniel Pilling, Co-PM of the Sands Capital Global Growth Fund, has spent nearly 20 years investing across long-only and long-short strategies, including time at Fidelity, Millennium, and Balyasny. Today at Sands Capital, he takes a very different approach: concentrated, deep-dive investing in high-quality growth companies with the potential to compound for years. In this episode, Daniel breaks dow...

Tom Hardin, formerly known as “Tipper X,” helped the FBI unravel one of the largest insider trading investigations in hedge fund history. The FBI flipped him, convinced him to wear a wire that built more than 20 cases. The hero of the story was Tom’s wife, who stood by him the entire time, allowing him to survive the intense emotional weight. In this episode, Tom walks through how he crossed the l...

My former colleague and banking guru, James Abbott, is living his passion with the launch of Diligence Capital Management (DCM). DCM runs a concentrated, net-long financials strategy alongside a tighter-net long/short financials portfolio. James and his team bring more than 50 years of combined experience in financial services—and a deep understanding of how banks operate, where they underperform,...

I met Tim Arthurs, the second week when I joined Millennium and knew he was an “A” player. He still has notes from every time he called me on a stock. He’s a process guy. And it has led to his success.  He founded Seaport Research Partners, which has become the fastest-growing independent equity research platform by attracting the top research analysts and empowering them with aligned incentives....

Gil Luria and I dig into the bull case after another blockbuster quarter with 93% YoY growth. The reason Palantir wins is their head start on building an enterprise-wide ontology, unconventional usage of forward-deployed engineers in their SaaS model, and customer-aligned, outcome-based pricing. We debate $PLTR’s valuation, future growth trajectory, and AI-driven software budget crowd-out. “Retail...

She Quit at 29 With No Code, No Co-Founder, No Funding – Now Hudson Labs Is Finance AI that has a “No Hallucination Guarantee” Kris Bennatti (@)  CEO Hudson Labs (Toronto), a former forensic-accounting data scientist who built the first LLM for finance, back in 2019 before anyone knew what to make of it. Her co-founder/CTO Suhas Pai literally wrote the book – O'Reilly's "Designing Lar...

"Our numbers are not even half of consensus. Treat the syndicate's number as an extremely optimistic bull case." "We think we're already very optimistic—but consensus is even more optimistic." "Launch is what makes 100% of the value of SpaceX." "Frontier AI is building very high barriers to entry." "Everybody wants to be part of the SpaceX story...

"Our data is powering the infrastructure of this massive new market."   "Building Data-as-a-Service is a very, very hard business."   "difficult problems have big rewards" "You're making decisions on complete gut."   Braden Dennis is the true definition of an entrepreneur. He started a podcast in his college dorm room and now runs an industry leading Fintech. Fiscal.ai has pivoted three times sinc...

"When I see short interest go up into the right... I want to dig deeper." "We came in as a long at first... then we followed the evidence to get to the short side." "Magic has been the crown jewel of the company—but we think expectations have gotten too high." [Using Carbon Arc data] “average weekly users on the app through quarter to date to q2 it's down 11 percent” "You have to be intellectually...

“These [oil] cycles, and we can get into it, they move up in three waves. They go doubt, pullback, optimism, a pullback, and then parabolic euphoria.” “The well count is starting to bottom out, and even as of the latest Texas Railroad Commission data that was just updating for this call, it looks like that's bottoming out too.” “So I think the best ones that is now front and center is obviously th...

Sean Emory, CIO and Founder of Avory & Co., is one of my go-to investors when I want to pressure-test an investment thesis. While I tend to focus on earnings revisions and the Variant View checklist , Sean goes deep on products, competitive positioning, and invests where the world is heading. In this episode, we debate one of the biggest questions in tech investing today: Is Meta overspending...

Jarrett Harris, from Iron Advisor Insights was my go to person for industrial channel checks when I was at Citadel and Millennium. He’s from Peoria, IL, the original HQ of Caterpillar ($CAT) and spends his days talking to heavy equipment dealers. He is now part of Iron Connect, a dealer wholesale network with proprietary data that gives me an edge on when the heavy equipment cycles are inflecting....

Part 2 of the interview with Sonu Chawla, Co-Portfolio Manager at TimesSquare Capital Management, about one of her team's highest-conviction investment ideas in enterprise AI. Sonu explains why Snowflake sits at the center of the AI data ecosystem, how her team developed conviction to increase its position during a sharp software selloff, and why they believe enterprise AI adoption remains in...

Against all odds, Sonu has shined at every step of her career. From getting into the Indian Institute of Technology to becoming a Co-PM at TimesSquare Capital Management. We get into what it's like to stand in the Wall Street arena everyday after proving the “nah-sayers” wrong.  And why she invests in mid-cap equities at TimesSquare Capital Management and the benefits of being early to investi...

In the new Pitch The PM series, The Wall Street Entrepreneur premier, Doug Garber speaks with former Citadel colleague, Eric Moster, CEO of Portrait Analytics and former portfolio manager at Millennium and Analyst at Surveyor Capital. Eric shares his transition from hedge fund investing into building AI-powered research tools purpose-built for institutional investors. The discussion explores how P...

Priyal Maniar, Co-PM of TURF and Global Energy Analyst, dives deep into why T. Rowe - who manages $1.8 Trillion - is structurally bullish the oil cycle. The marginal cost of production is increasing and US shale geology has peaked meaning the next well is more expensive and less productive. The recent U.S. - Iran war, wipes out the over supply from the start of the year and pulls forward the bulli...

In this episode of Pitch The PM, Doug Garber speaks with Doug O’Laughlin, President of SemiAnalysis, about the explosive demand for AI infrastructure and the market reaction to Cerebras’ IPO. Doug O breaks down Cerebras’ wafer-scale chip architecture, its advantages in ultra-fast inference, and the limitations caused by memory scaling constraints. The discussion examines how NVIDIA continues to do...