QAV America (free feed)

On this episode we dig into Trump’s claim that America doesn’t need the Strait of Hormuz — and why it’s complete nonsense once you look at where US refineries actually get their oil. We also run through the QAV America portfolio, which is up 113% since inception and 30% year-to-date, before Cameron does a deep dive on PagSeguro Digital (PAGS) — a Brazilian FinTech that’s ba...

On the club episode we do a deep dive on Commercial Vehicle Group (CVGI) — a boring-as-batsh*t truck cab outfitter that somehow jumped 20% the day after Cameron added it to the QAV Light portfolio. We also run through some big portfolio wins (Kodak up 47%, Zep up 326%, CEMEX up 100%), and Tony shares his takes on horse racing, Jeff Beck, and Moby’s new ambient record.   This week’...

Episode 46 of QAV America opens on Tony Kynaston’s birthday — complete with a QAV cap gift — before Cameron and Tony dig into a week of market chaos, with their main US portfolio down 12% over 30 days but still up an extraordinary 83% since inception in September 2023 versus the S&P’s 42%. The guys tackle the big macro picture, riffing on a Fortune article declaring US government...

In Episode 45 of QAV America, recorded on March 24, 2026, Cameron Reilly and Tony Kynaston open with a geopolitical check-in on the ongoing US-Iran conflict and its impact on oil prices and market volatility, before diving into portfolio performance updates showing the QAV dummy portfolio up 92% all-time versus the S&P 500’s 48% since September 2023. The star segment is Cameron’s...

In Episode 44 of QAV America, Cameron and Tony open with a geopolitical tour of the Strait of Hormuz crisis — still very much closed — unpacking what a prolonged shutdown could mean for global oil supply, economies, and living standards, including Australia's precarious one-month oil reserve. From there, Cameron pivots to his deep dive on Geo Park Limited (GPRK), a Latin American oil and gas explo...

In this episode of QAV America, recorded on March 12, 2026, Cameron and Tony navigate a market defined by "Trump Chaos," exploring how a rules-based system provides a psychological anchor during periods of high volatility. The duo discusses the fallout from trade tensions with Spain and the impact of attacks on Qatari LNG infrastructure on global energy prices. The "Pulled Pork" deep dive features...

In this episode, recorded on March 3, 2026, Cameron and Tony navigate a “punch-drunk” week for the markets following the escalation of war in the Middle East. They discuss how the QAV system provides a stress-free mechanical roadmap—buy, sell, or hold—regardless of geopolitical chaos. The duo reviews the US portfolio’s impressive 106% gain since late 2023 and examines why shipping stoc...

In this episode of QAV America, Cameron and Tony navigate the “completely bonkers” landscape of 2026, where a Supreme Court reversal on Trump’s previous tariffs and the looming shadow of AI bubbles have left investors guessing. The duo breaks down the hidden “gotchas” of American Depository Receipts (ADRs), specifically examining the tax hurdles and custody fees associated...

In this episode of QAV America, Cameron and Tony navigate the “completely bonkers” landscape of 2026, where a Supreme Court reversal on Trump’s previous tariffs and the looming shadow of AI bubbles have left investors guessing. The duo breaks down the hidden “gotchas” of American Depository Receipts (ADRs), specifically examining the tax hurdles and custody fees associated...

In this episode of QAV America, Cameron and Tony navigate a volatile week in the US markets, lead by Ford’s staggering $8.2 billion loss for 2025 and their strategic retreat from full electrification. The duo reviews the impressive performance of their “deep dive” portfolio, noting that many previously analyzed stocks have seen triple-digit or high double-digit gains. The centerpiece o...

In this high-stakes episode, Cameron and Tony celebrate a “bonkers” run for the QAV America portfolio, which is currently outperforming the S&P 500 by nearly double. After reviewing news on Seneca Foods (SENEA) and the curious 15% share price drop for Regional Management (RM) following record earnings, the duo dives into the murky waters of Mammoth Energy Services (TUSK). What begi...

In this episode, Cameron and Tony navigate a turbulent week in the American markets, touching on the downturn of Bitcoin, gold, and the “Magnificent Seven” tech stocks. Despite the macro-volatility, they celebrate the continued outperformance of their US dummy portfolio, which has nearly doubled its value since September 2023. The conversation shifts to a critical look at “stores...

In this episode of QAV America, Cameron and Tony navigate the extremes of global weather and market volatility. After discussing the impact of recent geopolitical “deals” on their US portfolios, they dive into a success story from the Bakken formation: **Chord Energy (CHRD)**. The conversation explores the “Shale 2.0” era, detailing how modern horizontal drilling and leaner...

In this episode of QAV America, Cameron and Tony navigate the complex intersections of the 2026 US economy, where the AI boom is currently offsetting the drag of ongoing tariffs. The duo explores the shifting AI landscape, notably Apple’s decision to build the next Siri on Google Gemini rather than homegrown technology, leaving significant questions about the future of OpenAI. The heart of the sho...

Episode overview In this episode, Cameron and Tony range from bushfires in Australia to political pressure on the US Federal Reserve, before digging into portfolio performance and a detailed QAV-style teardown of Mexican ultra-low-cost airline Volaris (VLRS). They unpack why airlines keep showing up on the QAV America buy list, how VLRS built a Ryanair-style model aimed at converting long-haul bus...

In the first QAV America episode of 2026, Cameron and Tony reset the framework for the year ahead. With geopolitical shocks rattling oil markets, bullish Wall Street forecasts predicting another US equity rally, and political noise everywhere, the hosts reiterate the core QAV philosophy: ignore predictions, stick to the rules, and let disciplined process do the work. The episode’s deep dive focuse...

Episode Overview In the final QAV America episode of 2025, Cameron and Tony reflect on a turbulent but revealing year for markets, value investing, and the QAV system. The conversation opens with a recap of US market conditions and the launch of QAV Light US, designed to give American listeners a live, transparent way to learn the QAV process through real weekly trades. Cameron then reviews the lo...

Episode Overview In this episode of QAV America, Cameron and Tony open with reflections on the tragic Bondi attack and Australia’s long-standing gun laws before turning to the week’s U.S. stock market action. They discuss recent market jitters, AI-driven volatility in tech stocks, and the ongoing rotation into “value” names. Cameron then delivers a deep dive on Ziff Davis (ZD) — a little-known but...

Overview In this episode, Cam and Tony dig into the strange, noisy twilight zone of the current US market: rate-cut expectations, mega-cap fatigue, and a broadening rally that’s finally throwing some love toward the small and mid-caps that QAV thrives on. They walk through the performance of the US portfolio, poke at the rotation narrative, and then Cam takes everyone deep into the iron-ore jungle...

Overview In this episode of QAV America, Cameron and Tony take a tour through the strange split-brain mood of the US markets, where weak economic data is somehow bullish because investors are convinced the Fed will cut rates in December. They break down the odd macro setup, check in on the portfolio, and walk through fresh results from star performer **Willis Lease Finance (WLFC)** and a big buyba...

Episode Overview This week we dive into Korea Electric Power (KEP), a deep-value, government-linked Korean utility that has quietly swung from crisis-level losses to massive operating cash flow. We explore the company’s unusual history stretching back to a royal electrification project in the 1890s, its modern political entanglement with tariff controls, its nuclear-heavy energy mix, and why the m...

Episode Overview This episode dives into Pacific Gas & Electric (NYSE: PCG) and its strange mix of monopoly power, criminal convictions, billions in liabilities, climate exposure, and a CEO who says she’s “leading with love.” Cameron takes us through PG&E’s century-old origins, deadly infrastructure failures like the Camp Fire manslaughter convictions, the bizarre history of repeat explosi...

Overview In this episode of QAV America, Cameron and Tony dig into the state of the U.S. market, exploring how AI investment is distorting capital flows, weakening job markets, and reshaping traditional sectors. They discuss how “the Great Freeze” in hiring and the surge in data-centre spending are reshaping the economy. Then Cameron serves up a Pulled Pork deep dive on MODG (Topgolf Callaway Bran...

Episode Overview In this episode of QAV America, Cameron and Tony dive into a deep analysis of American Airlines (AAL) — exploring its towering debt, its loyalty program goldmine, and its future prospects. They unpack how AAL’s Advantage points system, underpinned by a major new 10-year co-branded card deal with Citi, might serve as both ballast and buoy for a company flying through turbulence. Al...

**Episode Overview** In this episode of *QAV America* (Ep. 25), Cameron and Tony unpack a wild few weeks in the U.S. markets following Donald Trump’s latest tariff threats on China and the subsequent “birthday crash.” They discuss Australia’s surprising role in rare earths, portfolio moves including DAC and GTN, and new additions VSAT and RNR. The main feature is a deep dive into Cal-Maine Foods (...