Pitch The PM

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...

In this episode of Pitch The PM, Doug Garber speaks with Chris Murphy about his pre-IPO investment strategy and why $CBRS is his largest investment. Chris previously spent 17 years scaling a multi billion fund and is now focused on his pre-IPO PA (personal account) investment strategy. Chris has dug-in deep, hitting the road and reading heaps of expert call transcripts from Alpha Sense and Third B...

In this episode of Pitch The PM, Doug Garber sits down with Priyal Maniar , Global Energy Investor at T. Rowe Price | Investment Analyst and Portfolio Manager of Natural Resources ETF (TURF) to discuss the path that led her to one of the most coveted firms on the street. Priyal walks through her journey from BlackRock to T.Rowe, how an early passion for equity research and mentorship shaped her in...

In this episode, Doug Garber joins The Investment Memo to break down how hedge fund investors navigate macro volatility, manage risk inside low vol pod structures and stay focused on generating alpha. Doug shares how portfolio managers think during “risk-off” environments, why macro should not be your core thesis, and how strategies evolve inside multi-manager platforms. The conversation also dive...

Ep. 29: War & Markets | How a Former Sr. Millennium PM Invests in Equities In this episode, Doug joins Hyun Hong of The Investment Memo to break down how a buy-side investor is navigating today’s market backdrop. Doug shares how he thinks about building a variant view, managing risk in uncertain macro environments, and what’s actually driving the current conversation around oil, war, and reces...

Teamshares: The Next Programmatic Acquirer. Coming Soon: $LOKV → $TMS Doug Garber chats with Michael Brown (Teamshares, TMS) and Rick Hendrix (Live Oak, LOKV) about taking a programmatic acquirer of small businesses public via a DSPAC — the sourcing tech, capital plan, and why this opens a new asset class for investors. 🚀 In this episode: How Teamshares buys retirement-sale SMEs, systemizes sourc...

In this episode of Pitch The PM, Doug Garber sits down with Sean Emory, founder of Avory & Co., an investment firm focused on high-conviction, fundamentals-driven investing. Sean recently launched the Avory ETF ($AVRY), bringing his firm’s research-driven stock-picking approach to public investors. Sean outlines his “6 M” investment process that has allowed him to compound at nearly 20% for th...

$HSY: Historic Price/Cost Tailwinds as Historic Cocoa Price Spike Reverses 🍫📈Pitch The PM sat down with Mark Rogers (SIGMIT Advisors / Heddy Creek Research) to break down what may be one of the cleanest price-cost setups in consumer staples right now: Hershey ($HSY).After a brutal cocoa inflation cycle crushed margins, cocoa prices are now reversing sharply. The Street has started revising numbe...

Opening the Strait of Hormuz with Kevin Book of ClearView Energy Partners | Pitch The PMThe Strait of Hormuz is closed. Twenty million barrels of oil per day flow through that narrow channel. When it shuts down, the world feels it. The duration of the closure is the key to accessing the global ripple effects. Doug Garber sits down with Kevin Book, one of Washington's most respected energy poli...

Doug Garber sits down with Paul Sankey (Sankey Research) and Xavier Smith (AlphaSense) to break down what it would actually take to “unlock Venezuela” — and why the biggest oil-market impact may be second-order (US capex behavior), not an overnight flood of barrels. Despite the headline excitement around a post-Maduro reset and a new hydrocarbons law, Sankey argues Venezuela remains a long-road “i...

Doug Garber sits down with Sean Kumar (Humbucker Capital) to break down why Disney may be a value trap in disguise. Despite Disney’s evergreen IP and brand cachet, Kumar believes the street is mispricing the economics of DTC, overestimating ARPU growth, and underestimating park fatigue. He walks through his short framework grounded in bottoms-up segment analysis and consensus vs. internal modeling...

🎧 The better oil equity bet is in Colombia not Venezuela | with Venezuelan-American, Danny Pidert Hernández | Pitch The PMAfter the U.S. extracted Maduro, investors scrambled to re-underwrite the LatAm energy map. Doug Garber sits down with Danny Pidert Hernández — hedge fund manager, Venezuelan-American, and boots-on-the-ground LatAm research pro — to break down the real variant play emerging po...

Eli Lilly’s oral GLP-1 is going to change how the obesity market can scale. In this episode of Pitch the PM , Doug Garber speaks with Sriker Nadipuram, a founding member of Critical Value Asset Management, a long/short equity fund focused on biotechnology and pharmaceuticals. Doug and Sriker unpack why oral delivery matters for access, and long-term earnings power. The discussion focuses on how be...

In this episode, Doug sits down with Gil Luria, head of technology research at D.A. Davidson, for a wide-ranging and candid discussion on the current state of the AI arms race. Key Takeways:OpenAI has over-promised on the $1.4T of commitments to ORCL, CRWV, etc… and likely has to renegotiate and reduce the scope of its ambitions across the AI value chain to focus on their core like ChatGPT. There...

In this Alpha Sense sponsored webinar, we discuss how AI’s power demand is rewriting the energy equation. What started as a “data problem” has become an energy story — and few people have thought more deeply about that intersection than Arjun Murti, former Goldman Partner and author of Super-Spiked. Together, we unpacked:- How data centers consistent energy requirements are changing natural gas ma...

Doug Garber, former Citadel analyst and Millennium Senior PM, joins the Odds On Open podcast to unpack his experience  inside two of the top multi-manager platforms. Up and comer, Ethan Kho, explores the culture inside these two leading alternative asset management firms. We explore what defines success at each firm and what really separates the PMs and analysts who thrive from those who don’t. Do...

In this conversation, Doug sits down with Sinan Xin, managing partner at Amber Road, to discuss the “lost art” of international investing and dive deep on Nebius ($NBIS) — a misunderstood name in the global AI infrastructure ecosystem. Sinan has followed the company since its spinout from Yandex and built a position around $25 post-relisting earlier this year. Here he explains why Nebius now repre...

In this episode of Pitch the PM, Doug Garber sits down with Jeff Geygan, CEO of Rocky Mountain Chocolate Factory (RMCF), and Carrie Cass, the company’s CFO, to discuss how they’re rebuilding one of America’s most recognizable confectionery brands. The conversation goes far beyond chocolate — it’s a candid look at what real operational transformation looks like inside a small-cap public company. Th...

Jonathan Kasen spent over a decade as a portfolio manager at Fidelity, analyzing industrial and energy companies through the lens of four key elements: organic growth, operating leverage, free cash flow conversion, and reinvestment opportunities. Today, he’s applying those same principles to his latest venture: chocolate. In this episode of Pitch The PM, Jonathan joins Doug Garber to talk about hi...