Yet Another Value Podcast

Evan Tindell, CIO of Bireme Capital, discusses the circus that is the Elon Musk and Twitter merger agreement and explains why he thinks Delaware law and precedent suggest Elon would lose in court and be forced to close the merger on terms. My piece on Twitter: https://yetanothervalueblog.substack.com/p/twitter-the-circus-will-have-a-happy?s=w This podcast was taped afternoon of May 23; things are...

Ales Morris, founder of The Science of Hitting, returns to the podcast to discuss all things media, including his investment in Disney and Netflix. Alex's first podcast appearance on Spotify: https://twitter.com/AndrewRangeley/status/1388122956837097482?s=20 Alex's / TSOH substack: https://thescienceofhitting.com Chapters 0:00 Intro 2:55 What's going on in media? 6:15 What is the ma...

Luis Sanchez, founder of LVS Advisory, discusses his bull case for Endor AG, including why competitors can't recreate their product and how they benefit from the current boom in motor sports like F1 and NASCAR. My notes on Endor: https://twitter.com/AndrewRangeley/status/1526577674801520642?s=20&t=wqYSVMYKfG3kx8M9qhkB9w Luis's MOI pitch: https://twitter.com/LuisVSanchez777/status/152...

Chris DeMuth returns to the podcast for a new monthly segment talking about the current state of the markets My note on event driven situations; https://yetanothervalueblog.substack.com/p/weekend-thoughts-the-rich-set-of?s=w My note on energy companies: https://yetanothervalueblog.substack.com/p/when-are-the-activists-and-pe-funds?s=w Chapters 0:00 Intro 1:55 Chris's state of the markets 11:0...

Bill Chen makes his second podcast appearance to discuss Clipper Realty (CLPR). Clipper owns a bunch of NYC apartment buildings, and Bill thinks the current boom in apartment rentals will drive strong returns for the company going forward. Bill's first podcast appearance: https://yetanothervaluepodcast.substack.com/p/bill-chen-breaks-down-frphs-sotp?utm_source=url 0:00 Intro 2:05 CLPR overvie...

In this special bonus episode, Randy Baron provides updates on his prior podcast appearances on RNLX and AMRS. Randy's appearance on GDS: https://twitter.com/AndrewRangeley/status/1517512427071545346?s=20&t=UyPsEybQEnbnE9riOPd5yQ Randy's appearance on AMRS: https://twitter.com/AndrewRangeley/status/1407669290241777666?s=20 Randy's appearance on RNLX: https://twitter.com/AndrewRa...

One of the people's favorite guests, Randy Baron, returns to the podcast to talk about his thesis for GDS. GDS is a Chinese data center company, and Randy goes in depth into the company, including why their tier 1 footprint gives them a moat, how GDS is trading at a discount to private market values, and why ADR and VIE fears may be overblown. My notes on GDS: https://twitter.com/YetAnotherVa...

Andrew Wagner, CIO of Wagner Road Capital Management, discusses his thesis on Copart (CPRT). My Copart (CPRT) notes; https://twitter.com/YetAnotherValue/status/1514627334464323589?s=20&t=yjNrQXKvqPrQdJZ_Z00Tdw Andrew's post on Copart: https://www.wagnerroadcm.com/blog/2022/4/8/what-i-like-about-copart-and-how-i-found-it Andrew's Book: The Economics of Online Games: https://amzn.to/3K...

Bob Robotti, founder of Robotti Advisors, discusses his thesis on Westlake Corporation (WLK) and why he thinks "old economy" stocks are poised for a comeback. My notes on WLK: https://twitter.com/AndrewRangeley/status/1513885052974899200?s=20&t=QiY-1L2H5U3GZ-S5YjGFww Chapters 0:00 Intro 2:50 WLK Overview 6:10 Diving into WLK's segments and products 10:45 WLK's favorable sup...

Conor Maguire, founder of Value Sits, discusses his thesis on Wickes (WIX:LSE). Wickes is a cheap retailer that Conor thinks is both recession resistant and suffering from typical post-spin dynamics. My notes on WIX: https://twitter.com/AndrewRangeley/status/1511702344022609922?s=20&t=2lChWyeIhR6HZWw938bR8Q Conor's write up: https://valuesits.substack.com/p/wickes-group-plc-wixln?s=w Chap...

Swen Lorenz, founder of https://www.undervalued-shares.com, discusses his thesis on IWG. IWG owns a variety of co-working brands that compete with WeWork, and Swen believes IWG's scale, cheap valuation, and variety of catalysts makes them a terrific value investment. Note: We had some connectivity issues on Swen's side during the podcast; I tried to edit the best I could but ultimately i...

Tim Weber, a private investor, returns to the podcast to provide an update on the $AMPY thesis and then discuss his double dog index, why it's been crushing the market so far this year, and his outlook for the dogs from here. Twebs double dog post: https://twebs.substack.com/p/introducing-the-double-dog-index?r=f389n&utm_campaign=post&utm_medium=web&s=r Note that there was a sligh...

Chris Colvin returns to the podcast to discuss why he invested in Houghton Mifflin Harcourt (HMHC) and why he thinks the deal to sell HMHC to Veritas is much too cheap. Breach Inlet's letter to HMHC: https://www.businesswire.com/news/home/20220223005845/en/Breach-Inlet-Capital-Sends-Public-Letter-to-Board-of-Houghton-Mifflin-Harcourt My notes on HMHC: https://twitter.com/AndrewRangeley/status...

Louis Camhi provides an update on his thesis for ORGN and then walks through where he's finding opportunities in the SPAC market today. Louis's first podcast appearance: https://twitter.com/AndrewRangeley/status/1428710432848613377?s=20 Chapters 0:00 Intro 1:45 Origin Update 5:55 Origin today versus their SPAC projections 8:45 When will we start seeing unit economics for ORGN plants? 12:...

Jeremy Raper returns to the podcast to discuss his recent semi-activism at FAR Ltd. FAR recently received a bid that Jeremy thinks dramatically undervalues the company, so Jeremy is pressuring the company to cut costs and aggressively return capital to shareholders. My tweet thread on FAR: https://twitter.com/AndrewRangeley/status/1496863885122539520?s=20&t=UK4pHbZdyRecEFP_I46_UQ Chapters 0:00...

Bill Chen, an institutional real estate investor, goes through his thesis for FRPH. FRPH is a conservatively managed real estate company with a great management team and a history of growing NAV and monetizing assets at opportunistic times. You can find all my writings here: https://yetanothervalueblog.substack.... My notes on FRPH: https://twitter.com/AndrewRangeley/st... A rough SOTP for FRPH: h...

Jon Boyar from the Boyar Value Group returns to the podcast to discuss his high conviction thesis for Scotts Miracle-Gro (SMG). SMG was a massive COVID beneficiary, and shares have sold off in kind with other COVID beneficiaries. Jon thinks the market is too pessimistic here, SMG's brands have Coke like market share, and the company has a rapidly growing "picks and shovels" cannabis...

Rich Howe, founder of stock spinoff investing, walks through the bull case for NXDT. NXDT is a closed end fund trading at a huge discount to NAV; the fund is planning to transition to a REIT and Rich thinks that makes the stock very catalyst rich. A related company, NXRT, pursued a similar move ~6 years ago and their stock has gone up ~6x since. You can find all my writings here: https://yetanothe...

Josh Young, CIO of Bison Investments, discusses his thoughts on the oil market and why he thinks energy prices are going much higher. Then he dives into his thesis for Journey Energy (JOY CN in Canada), a micro cap Canadian company that he thinks is dramatically undervalued. You can find all my writings here: https://yetanothervalueblog.substack.com/ Josh's Twitter: https://twitter.com/Josh_Y...

Keith Smith, Portfolio Manager at Bonhoeffer Capital, discusses his thesis for Millicom ($TIGO). TIGO is trading at a super low multiple and a recent deal that the CEO described as a "no brainer" will result in a rights offering for TIGO, which could set the stock up as a special situation as well. Keith breaks down why he likes TIGO versus other telecom stocks, why he thinks the stock i...

Vadim Perelman goes through his thesis on Basic-Fit (BFIT) and why he thinks it could be a ~10x in ~10 years. Key topics include a detailed walk through the unit economics and why competitors won’t be able to open new gyms once the company “fortresses” their markets. My notes on BFIT: https://twitter.com/AndrewRangeley/st... Vadim's BFIT write up: https://punchcardstocks.substack.com/... Chap...

Chris DeMuth discusses his best idea for 2022, RENN. RENN was on a previous podcast pitched by Ian Bezek as a legal play; since then, RENN settled with minority shareholders for a record payout. However, in December, RENN's shares sold off massively as a judge rejected their proposed settlement with minority shareholders and ruled the payout should instead go to former shareholders; Chris exp...

In Part 2 of this two part podcast, Jacob Rubin discusses his thesis for GLNG, including why the company trades at a huge discount to its SOTP and why an upcoming spin can delever the core business and serve as a catalyst for the company. Part 1 of the podcast on FTAI: https://yetanothervaluepodcast.substack.com/p/podcast-87-jacob-rubin-is-flying My notes on GLNG: https://twitter.com/AndrewRangele...

In Part 1 of this two part podcast, Jacob Rubin returns to the podcast. We start by wrapping up his prior podcast appearance on ESGC, and then we move into discussing FTAI and why he thinks the stock is dramatically undervalued and an upcoming spinoff could unlock significant value. My FTAI notes: https://twitter.com/AndrewRangeley/status/1470841498048634885?s=20 Jacob's first podcast appeara...

Kuppy comes on the show to discuss his recent activism at LEE and why he thinks the stock is dramatically undervalued. My notes on LEE: https://twitter.com/AndrewRangeley/st... Kuppy's LEE thesis: https://adventuresincapitalism.com/20... KEDM: https://www.kedm.com/what-is-kedm/ Chapters 0:00 Intro 2:00 LEE Overview 7:55 Why does Kuppy think Alden's LEE offer is so undervalued? 12:35 Why...