The Rock and Turner Investment Podcast

Three Compounding Payments Giants, One Opportunity, All Hiding in Plain Sight While investors flock to the next shiny thing, currently AI and space related businesses, payments companies with far better unit economics have become unfashionable and are being overlooked. This creates an interesting contrarian investment set up. This podcast provides an introduction to three compelling investment opp...

Is Kinsale Capital (KNSL) A Good Investment? Kinsale Capital Group (KNSL) is an insurance company with a difference. Since its 2016 IPO, the stock has surged over 2,000%, powered by a staggering 41% EPS CAGR that has left the rest of the industry in the dust. As the only publicly traded pure-play in the Excess & Surplus (E&S) market, Kinsale has carved out a massive advantage by insuring the “hard...

Slowly, the market seems to be waking up to a major issue that the likes of Michael Burry, Warren Buffett and Terry Smith have been warning about for years. The issue was highlighted in a recent article in The Wall Street Journal entitled Meta Rakes It In, Yet Still Borrows Billions for AI. Stock based compensation is not the villain most investors think it is. Used with discipline it conserves ca...

DISCLAIMER & DISCLOSURE: The author holds a position in Kingsway Corporation at the date of publication but that may change. The views expressed are those of the author and may change without notice. The author has no duty or obligation to update this information. Some content is sourced from third parties believed to be reliable, but accuracy is not guaranteed. Forward-looking statements involve...

Judges Scientific Plc (JDG.L), listed on AIM, has built its entire identity around one thing: a disciplined and highly effective buy-and-build strategy. Over the years, that strategy has turned the company into a respected specialist in high-end, niche scientific instruments: pieces of mission-critical kit used by universities, research labs, manufacturers and regulators around the world. Since it...

In this short 10 minute interview, Sundar Pichai, CEO of Google owner Alphabet (GOOG)(GOOGL), emphasizes the importance, and dangers, of AI. Cautiously optimistic, is the best way to sum up his views. He is realistic as he declares that not even Google is immune if the AI bubble bursts. Well worth a listen. Get full access to Rock & Turner Investment Analysis at rockandturner.substack.com/subscrib...

Show Notes In this podcast, we explore the fascinating intersection of psychology and investing — why our brains are wired to crave instant gratification and how that shapes our behaviour, valuations and investment decisions. With reference to the behavioural economics concept of hyperbolic discounting, we explore how this can create excellent trading opportunities. We also examine why the type of...

This podcast continues our investigative journey on the theme of programmatic and serial acquirers. Links to the other episodes in this series are: * The Secret of Investing in Programmatic Acquirers podcast - [ unlocked ] * Relais Group investment analysis - [ unlocked ] * Teqnion - [ unlocked ] * Fairfax India (podcast/video presentation) - [ unlocked ] * Topicus - [ 45 day partial paywall, afte...

Acquisition-as-a-Business (AaaB) This podcast continues our investigative journey on the theme of programmatic and serial acquirers. The first episode in this series was an Introduction to the AaaB model . It explains the compounding power of the AaaB business model and distinguishes between serial and programmatic acquirers. Despite many using these terms interchangeably, they are not the same an...

Acquisition-as-a-Business (AaaB) This is now the first post in the ‘AaaB’ series. If you missed the others, here are the links: * The Secret of Investing in Programmatic Acquirers podcast * Relais Group investment analysis * Teqnion * Fairfax India (podcast/video presentation) * Topicus - Part 1 * Valuing Programmatic Acquirers * Topicus - Part 2 - How to value Topicus * Judges Sceintic (podcast)...

Bogumil Baranowski interviews James Emanuel for his Talking Billions podcast. Their conversation leads them into discussions on a wide range of fascinating topics including: * personality traits of a successful investor * stock selection criteria * red flags * concentrated portfolios * buy and hold strategies * long-term investing * compounding * dividends * stock based compensation Enjoy! And ple...

DISCLAIMER & DISCLOSURE: The author, James Emanuel, holds a position in Enterprise Group, but that may change. The views expressed are those of the author and may change without notice. The author has no duty or obligation to update this information. Some content is sourced from third parties believed to be reliable, but accuracy is not guaranteed. Forward-looking statements involve assumptions, r...

DISCLAIMER & DISCLOSURE: This interview was recorded for the MOI Global investment community, but is reproduced here on James’ own Substack for the benefit of his subscribers. James and Cristiano may hold positions in the companies discussed. The views expressed are those of the participants and may change without notice. Past performance is not indicative of future results. All investments carry...

Annie Lennox, the singer-songwriter from Eurythmics, achieved great success in the 1980s. One of her songs, ‘ Sisters Are Doin’ It for Themselves’ , includes the famous line: “Behind every great man, there’s a great woman.” While I can’t speak to the accuracy of that sentiment, I firmly believe that behind every great company is a great CEO. Take Apple, for example. Under John Sculley, the company...

Disclaimer: This is for information purposes only. It is not investment advice. The author has a position in the securities discussed. Seek professional advice before investing. I posted some analysis on Monday of this week on a small and largely unknown business which I believe is ridiculously mispriced. That analysis seems to have gone viral and so for the benefit of anyone who missed it, here i...

Best Ideas 2025 is the thirteenth edition of a fully online investment conference, hosted by MOI Global. A small number of investors were chosen to pitch strong conviction investment ideas to the MOI community and the video/podcast above includes my pitch focused on Haivision. There is also a bonus section included in this video which features the CEO of Haivision, Mirko Wicha, explaining the comp...

Ben Claremon, of Devonshire Partners , hosts the Compounders podcast . He recently published an episode featuring an interview with me which he kindly allowed me to reproduce here. We discussed risk management, geographic diversification, the nuances of investing in Japan and China, dividend policies, stock based compensation, factors distorting the markets, relative valuations of US and European...

This is a special podcast, capturing an interview that I gave to MOI Global. In it, we discuss the book, Fabric of Success and investing themes more generally, including the importance of management, capital allocation, the importance of location, dividend policy and so much more. Enjoy! About MOI Global MOI Global, which originated from ‘The Manual of Ideas’ over a decade ago, has evolved into an...

This podcast is the latest in our series on mental models. Part 3 focuses on what gives a business a durable advantage. It isn’t about being incrementally better than the competition, but fundamentally different. Be sure to read the full article: Get full access to Rock & Turner Investment Analysis at rockandturner.substack.com/subscribe

In today's special episode we're exploring the BRICS summit in Kazan, Russia, happening from October 22nd to 24th, 2024. This summit brings together leaders from Brazil, Russia, India, China, and South Africa to discuss a bold initiative: reducing the bloc's dependence on the US dollar. Amidst ongoing efforts to reshape the global financial landscape, Russia and Iran are leading the charge toward...

This podcast accompanies the series of articles exploring mental models. This one "The Democratization of Goods and Services" is a podcast based on a post of the same title ( click here ). It explores the idea that a company's success is more dependent on reaching a broad customer base than on the quality of its products or services. Drawing on Charlie Munger's concept of a latticework of mental m...

This podcast focuses on a speech that Charlie Munger gave back in 1994 at the University of Southern California, entitled ‘The Art of Stock Picking’. It explains the approach that he and Warren Buffett deployed to achieve outstanding results. It’s not complicated, and easy to follow, but most people do the exact opposite. If you want to do more reading, the podcast was based on text that may be fo...

Another short podcast, based on a Rock and Turner Substack post. To read the full post, please see: A Free Lunch? | No Such Thing . Who else would enjoy this? Receive future posts and podcasts direct to your inbox: Bookmark on Apple podcasts: Get full access to Rock & Turner Investment Analysis at rockandturner.substack.com/subscribe

As a taster of some of the posts on the Rock & Turner Substack, here is a quick 12 minute podcast. The podcast is based on the following post if you are interested in doing more detailed follow on reading: > How Dividends Destroy Shareholder Value If you enjoyed it, share it. Receive future publications direct to your inbox: Get full access to Rock & Turner Investment Analysis at rockandturner.sub...

As a taster of some of the posts on the Rock & Turner Substack, here is a quick 12 minute podcast. The podcast is based on the following post if you are interested in doing follow on reading: Phil Carret | Learn From The Best by James Emanuel ~ Lessons From One Of Warren Buffett's Investment Heroes If you enjoyed it, share it! Receive future content direct to your inbox: Get full access to Rock &...