The Value Investing Podcast with Fexingo: Buffett, Graham, and Long-Term Stock Picking

In this episode of The Value Investing Podcast, Lucas and Luna explore the cash conversion cycle (CCC) as a tool for identifying undervalued companies with operational efficiency. With the S&P 500 hovering around 7,575 and interest rates steady at 3.63%, they discuss why a shorter CCC signals management quality and competitive advantage. Using examples from Costco and Home Depot, they show how a n...

Lucas and Luna examine why free cash flow yield – traditionally a gold-standard metric for value investors – is being sidelined in the current market. With the S&P 500 at 7,575 and the Russell 2000 lagging at 2,978, many cheap stocks offer double-digit FCF yields that get dismissed as 'value traps.' The hosts unpack a real example from the energy sector (Chevron's 4.9% weekly gain) and a contraria...

In this episode of The Value Investing Podcast, Lucas and Luna explore how to evaluate economic moats in the current market environment. They discuss Warren Buffett's concept of durable competitive advantages, using recent data from the S&P 500 and energy sector to illustrate moat strength. The hosts examine Chevron's 2.9% weekly gain as a case study for moat-based investing, contrasting it with B...

In episode 101 of The Value Investing Podcast, Lucas and Luna explore return on invested capital (ROIC) as a core metric for identifying durable competitive advantages. They anchor the discussion in current market conditions—with the S&P 500 at 7,544 and Berkshire Hathaway down 2.4% in the past week—and contrast ROIC with the price-to-earnings ratio. Using Coca-Cola and a regional bank as examples...

For the 100th episode of The Value Investing Podcast, Lucas and Luna mark the milestone by examining the energy sector's resurgence in mid-2026. With Chevron up 6.2% and Exxon up 3.6% over the past five days, the hosts dissect how traditional value metrics like owner earnings and price-to-book apply to Big Oil today. They contrast the Buffett playbook—Berkshire's 2020 exits from Chevron—with the c...

In this episode of The Value Investing Podcast with Fexingo, Lucas and Luna revisit Benjamin Graham's net net working capital strategy — buying stocks trading below their current assets minus total liabilities. With the Russell 2000 down 1.9 percent over the past five days and small-cap valuations compressed, they drill into why the net net approach is resurfacing in 2026. They walk through a real...

In this episode, Lucas and Luna dig into a subtle but crucial concept for value investors: owner earnings. Warren Buffett popularized the idea that a company's true earnings power isn't captured by net income or even free cash flow alone. They walk through the actual formula, using ExxonMobil's latest annual report as a real-world example—highlighting how maintenance capex differs from growth cape...

In this episode of The Value Investing Podcast, Lucas and Luna explore the Owner Earnings Ratio, a metric popularized by Warren Buffett as a more honest measure of a company's true profitability than net income. Using today's market data including Berkshire Hathaway at $504.00 and the S&P 500 at 7,504, they walk through how to calculate owner earnings from cash flow statements, why it matters for...

Lucas and Luna explore why the Altman Z-Score, a classic bankruptcy-risk metric from 1968, is gaining new relevance in mid-2026. With the Fed holding rates at 3.63% and markets near all-time highs — the S&P 500 at 7,537 and the Dow at 53,056 — the hosts examine how the Z-Score helps value investors spot hidden stress in seemingly healthy companies. They walk through the five ratios that make up th...

In this episode, Lucas and Luna explore how value investors are adapting their approach to dividend stocks in a 3.63% Fed Funds rate environment. They examine why traditionally defensive sectors like utilities and consumer staples are now competing directly with risk-free Treasury yields, and how the 'bond proxy' framework forces investors to rethink what counts as a safe income stream. Lucas walk...

Lucas and Luna dive into the Dividend Discount Model, a classic valuation tool that has quietly returned to relevance as dividend payers have outperformed growth stocks so far in 2026. They walk through a real-world example: a boring regional bank trading at 12 times earnings with a 4.5% dividend yield, showing how DDM reveals whether the market is pricing in a dividend cut or a long-term payout g...

In this episode of The Value Investing Podcast with Fexingo, Lucas and Luna explain how value investors can use the Graham Number in the current market environment of July 2026. With the S&P 500 at 7,483 and small caps lagging, they walk through a concrete example: a hypothetical company with trailing earnings per share of $2.50 and book value per share of $20, yielding a Graham Number of $35. The...

In Episode 92 of The Value Investing Podcast with Fexingo, Lucas and Luna explore the stock buyback yield as an underappreciated metric for value investors. They anchor the discussion with Berkshire Hathaway's recent buyback activity—$5.2 billion in Q2 2026—and compare it to JPMorgan's buyback yield. The hosts explain how to calculate buyback yield, why it matters more than raw buyback dollars, an...

In this episode of The Value Investing Podcast with Fexingo, Lucas and Luna dive into the concept of the margin of safety — the cornerstone of Ben Graham's value investing philosophy. Using the current market environment as of July 4, 2026, they explore how to calculate a margin of safety in today's elevated S&P 500 (trading at 7,483) and what it means for stock selection. Lucas breaks down a conc...

Episode 90 of The Value Investing Podcast with Fexingo dives into the Graham Number—Ben Graham's quick-fire valuation tool that checks if a stock is cheap relative to its earnings and book value. Lucas and Luna walk through the formula, apply it to a real 2026 example (JPMorgan at $334, with earnings per share around $18 and book value near $110), and discuss where it works, where it breaks, and w...

In this episode of The Value Investing Podcast with Fexingo, Lucas and Luna dive into the earnings yield as a core valuation metric for value investors in mid-2026. With the S&P 500 at 7,483 and the Dow at 52,900, earnings yields on indices are compressing. But rather than dwell on the market, the hosts focus on a concrete case: Exxon Mobil (XOM). Trading at $137 with a P/E around 14, its earnings...

Episode 88 of The Value Investing Podcast with Fexingo examines the Piotroski F-Score, a 9-point fundamental checklist developed by accounting professor Joseph Piotroski in 2000. Lucas and Luna walk through each criterion—profitability, leverage, operating efficiency—and test it against real market data from early July 2026. They discuss why the F-Score works best for small-cap stocks (the Russell...

Lucas and Luna dive into the mechanics and psychology of share buybacks through a value-investing lens. Using recent market data—including Berkshire Hathaway's buyback activity and JPMorgan's repurchase trends—they discuss when buybacks create value and when they destroy it. They walk through a simple framework for evaluating buyback quality: the buyback yield versus the price-to-book ratio. The c...

In this episode of The Value Investing Podcast, Lucas and Luna drill into the payout ratio — a metric that reveals whether a company's dividend is sustainable or at risk. With the Fed funds rate flat at 3.63 percent and value stocks like Chevron down nearly 4 percent in the last five days, the hosts examine how payout ratios signal management discipline and financial health. Lucas walks through re...

In this episode of The Value Investing Podcast, Lucas and Luna explore the value of insider buying as a signal in 2026. They discuss how investors can distinguish between routine insider selling and meaningful buying, drawing on data from Berkshire Hathaway and JPMorgan Chase. The hosts analyze recent insider transactions at companies like CVX and PFE, and explain why a CEO buying shares with thei...

Lucas and Luna explore the price to book ratio as a value investing tool in the current market, using Berkshire Hathaway's recent buybacks and JPMorgan's current valuation as case studies. They discuss why book value matters, how to adjust for intangible assets, and why P/B is particularly relevant in a rising rate environment. With the S&P 500 at 7,499 and the Dow above 52,000, the hosts examine...

In this episode, Lucas and Luna explore the asset turnover ratio—a metric often overlooked by growth investors but crucial for value investors seeking operational efficiency. Using recent market data (small-cap surge, Michael Burry shorting Caterpillar), they explain how asset turnover reveals whether a company generates sufficient revenue from its assets. Lucas breaks down the ratio calculation w...

In this episode of The Value Investing Podcast, Lucas and Luna explore why the cash flow statement is the most reliable document for value investors—not the income statement. They walk through a real example using Cisco in fiscal 2025 to show how cash from operations, capital expenditures, and free cash flow reveal the true earning power of a business. They compare Cisco's free cash flow yield of...

In this episode of The Value Investing Podcast, Lucas and Luna dive into the price-to-earnings ratio, one of the most fundamental yet often misunderstood tools in value investing. They explore how to interpret P/E in the current market environment, using the S&P 500's trailing multiple of 24 as a starting point. Lucas explains the difference between trailing and forward P/E, the pitfalls of compar...

In this episode, Lucas and Luna examine a seemingly dry indicator that can reveal hidden distress or deceptive strength in a company's balance sheet: the current ratio. They walk through what it measures, why a high ratio isn't always good, and how to spot when it's being manipulated by inventory build or receivables stretching. Using real market data from late June 2026—including a look at Pfizer...