Value Hive Podcast

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China Tech Sell-off Explained: Twitter Spaces Feat. Rui Ma Jul 30, 2021

Show notes

This week we're releasing the recording of a Twitter Spaces I hosted on Tuesday (07/27).

Topic: China Tech Sell-Off

Co-hosts: Rui Ma (@ruima), Jessica Ablamsky (@jablamsky), BuyandHold (@BuyandHoldd), and Mayhem For Markets (@Mayhem4Markets)

This was a fantastic discussion on all things Chinese investing from VIEs to venture capital flows, and even a few stock pitches. At one point we had nearly 300 people listening to the conversation.

I learned a ton about the Chinese public and private markets through this conversation, and I know you'll learn just as much!

Please follow the co-hosts on Twitter, your feed will be better for it.

As always, if you like what we're doing, please subscribe and tell your friends about the podcast. It's a great (and free!) way to help grow our audience and produce even better content.

This episode is brought to you by TIKR. Join the free beta today at TIKR.com/hive . They're constantly releasing new updates that make the platform better including a new Business Owner Mode that hides share count, market cap, and enterprise value. Also, they've introduced their new Global Stock Screener. Check it out now! I couldn't be more excited to partner with TIKR

We're also proud to introduce our newest sponsor, Quartr! Quartr is revolutionizing the way investors interact with IR departments, listen to conference calls, and engage in investment research. The best way to think of Quartr is like Spotify for investor conference calls. Quartr is 100% free and includes markets from twelve countries (with plans to expand in the future!). Investors can easily request new companies, and Quartr is quick to add them.

You can learn more about Quartr by visiting their site, Quartr.se

If you're interested in changing the way you research companies, download the app today and give it a try on Apple and Android.

SinStockPapi: Tobacco Stocks, ESG Signaling & Limbic Investing Jul 23, 2021

Show notes

This week we have @sinstockpapi joining the Value Hive. We dive into why invests in sin stocks, what is limbic capitalism, everything you need to know about tobacco companies such as British Tobacco, what is the Lindy Effect, the bull and bear case for Swedish Match, his thoughts on ESG investing, and a Q&A from the FinTwit Community.

Here is the time-stamp:

[0:00] Who is @sinstockpapi?
[4:30] Investment Philosophy
[9:00] Understanding the Business as a Customer
[13:00] Lessons Learned from the Covid 19 Crash
[16:00] Sins Stock: What is Limbic Capitalism?
[22:00] Sin Stocks’ Misconceptions: Tobacco
[26:00] Making Money on Tobacco Stocks.
[29:00] What It feels to have a Nicotine Withdrawal.
[33:00] What is the Lindy Effect?
[39:00] Sinstockpapi’s Portfolio
[40:30] British Tobacco (BTI)
[43:00] Who is Kenneth Darth?
[44:00] The Bull Case for Swedish Match (SWMA)
[49:00] The Bear Case for Swedish Match (SWMA)
[52:00] ESG Investing
[56:00] Twiter Q&A
[57:00] Is TPB a future 10x Compounder?
[1:02:00] Unlevered vs Levered Multiples when Analyzing Tobacco Companies
[1:04:00] Favorite Juul Flavor?
[1:05:00] Why is SWMA better than BTI?
[1:07:00] Should Tobacco Companies Abolish Dividends?
[1:09:00] Closing questions

Make sure to check out SinStockPapi's new Substack here.

You can learn more about Quartr by visiting their site, Quartr.se

If you're interested in changing the way you research companies, download the app today and give it a try on Apple and Android.

Kyla Scanlon: Tik-Tok, Creator Economies, and DAOs Jul 16, 2021

Show notes

This week’s guest is the one and only FinTwit/TikTok celebrity Kyla Scanlon. Kyla tells her experience on creating financial content specifically for Tik Tok. She gives us an insight into the creative content grind: how she comes up with ideas, how she produces her videos, managing feedback, mistakes learned, creator wellness and burnouts. Plus we have a little side conversation about Decentralized Autonomous Organizations (DAOs).

[3:00] Kyla’s First TikTok Video
[7:30] The Creative Process of Producing a Finance Tok Tok Video
[11:20] TikTok as a Platform for Financial Education/Content?
[13:00] Video Mistakes
[16:00] Working with Patrick O’Shaughnessy on the Business Breakdowns Podcast.
[19:00] What are Decentralized Autonomous Organizations (DAOs)?
[25:00] The Grind of Creating Content
[30:00] What is Creator Wellness
[34:00] Receiving Positive and Negative Feedback
[38:00] More from Kyla Scanlon and Closing Questions

If you want to learn more about Kyla or watch her awesome videos, check her out at these links:

You can learn more about Quartr by visiting their site, Quartr.se

If you're interested in changing the way you research companies, download the app today and give it a try on Apple and Android.

Harris Perlman: Finding Hidden Treasure w/ @OtterMarket Jul 09, 2021

Show notes

We're stoked to have Harris Perlman join The Hive this week. Harris is a full time investor specializing in micro-cap/nano-cap stocks all across the globe. If it's tiny, obscure, off-the-beaten-path and with a bit of hair, odds are Harris has studied it. To get an idea of who he is, know this. Harris has gone from A-Z on both the OTC Market Exchange and the Canadian TSX Exchange. Yep, that's dedication.

This week Harris dives deep into his investment process and philosophy. He shares mistakes he's made along the way, lessons learned from past (and current) winners, as well as revealing his process for finding such unique stocks. There are loads of golden information nuggets along our 1.5HR conversation. I know you'll love it.

Here are the time-stamps:

[2:00] Intro Questions
[4:00] Finding Patterns in Companies
[16:00] Learning From Past Mistakes
[28:00] Starting With The A's ... And Actually Finishing
[36:00] All Things Energy Stocks
[50:00] XPEL & Finding Your Strike Zone
[69:00] Modeling & Conviction Levels
[90:00] Closing Questions

If you liked Harris please follow him on Twitter @OtterMarket

This episode is brought to you by BullpenCareers.com. BullpenCareers.com is a job board exclusively for finance jobs. If you or someone you know is looking for a job in finance, check out BullpenCareers.com today!

You can learn more about Quartr by visiting their site, Quartr.se

If you're interested in changing the way you research companies, download the app today and give it a try on Apple and Android.

Robert Mulcahy: Tiny Stocks, Lemonade $LMND, and Letting Winners Run Jul 02, 2021

Show notes

This week is all about the micro-cap space and we have Robert Mulcahy or the @tinystockninja on Twitter. We covered a variety of topics ranging from how Robert started his investing journey, identifying mistakes and how to correct them, how he manages his portfolio and allocates capital, his view, as former insurance professional, on the $LMND AI Twitter debacle, and last but not least his bull thesis on his latest high conviction micro-cap bet: Crexendo ($CXDO).

You can learn more about Quartr by visiting their site, Quartr.se

If you're interested in changing the way you research companies, download the app today and give it a try!

Here's this week's timestamp:

[0:00] Who is Robert Mulcahy?
[4:00] Rob’s Investing Philosophy
[6:00] Selling to Early: $JYNT and $ROKU
[15:30] When to Update Your Estimated Fair Value
[19:00] Portfolio Management
[23:00] Artificial Intelligence in the Insurance Industry? $LMND
[30:00] What is $LMND’s Bull Case?
[35:00] Disrupting the Insurance Industry
[39:30] Crexendo ($CXDO)
[47:40] Rob’s Screening Process
[49:00] Crexendo’s Value
[53:00] Crexendo’s Bear Thesis
[1:00:00] The First 1 Trillion Market Cap.
[1:03:00] What’s on Rob’s Radar?
[1:08:00] More from Rob and Closing Questions

David Kaye: The Business of Video Game Development Jun 25, 2021

Show notes

This week we had a fantastic conversation with David Kaye, the president and co-founder of Snapshot Games. We talked about a variety of different topics such as David’s first video game company, how different types of video games companies will allocate capital, how NFTs could be used in the video game industry, Unity vs. Epic Games, and what are some KPIs that investor should look for when investing in the video game industry.

This episode is brought to you by BullpenCareers.com. BullpenCareers.com is a job board exclusively for finance jobs. If you or someone you know is looking for a job in finance, check out BullpenCareers.com today!

[0:00] Who is David Kaye?
[8:00] David’s First Company: Iron Realms.
[14:00] Iron Realms’ Live Auction In-game Purchases.
[22:00] Founding Snapshot Games
[27:00] Capital Allocation in the Video games Industry
[32:00] How to Increase Player Liquidity
[41:00] Game Companies as Entertainment Power Houses
[46:00] The Video Game Metaverse
[48:00] NFTs in Video Games
[54:00] Unity vs. Epic Games
[1:01:00] What Investors Should Look For When Analyzing Video Game Companies
[1:11:00] Closing Questions

If you liked what you heard and want to learn more about David Kaye, check out his Twitter @DavidKaye, and PLEASE follow him.

Chris Barto: Mitek Systems $MITK, Swing Trading w/ Options, & Fiducia Invest Jun 18, 2021

Show notes

This week we're stoked to have Chris Barto join The Hive. Chris is a former investment analyst at a boutique RIA in Pittsburgh and current founder of Fiducia Investment Research LLC. Chris runs a concentrated, transparent, and in-depth research service covering high-quality businesses with durable competitive advantages. The site is perfect for people who are interested in learning about different businesses, read market commentary, as well as develop a place to interact with other investors who are willing to put in the time to read and learn.

During our hour-long chat, Chris and I discuss the absence of valuation in today's investing framework, how Chris developed his own investment philosophy, an overview of Mitek Systems $MITK, and his short-term options swing trading system.

Here is the time stamp:

3:12 - Working At Boutique RIA Firm

13:34 - Making The Decision To Start Fiducia Invest

26:40 - Bad Investment Idea: $CSCO

37:09 - Mitek Systems $MITK

43:28 - Options Swing-Trading Strategy

50:36 - Just Doing Shorter-Term Trading

56:09 - Long-term Vision For Fiducia Investment Research LLC

58:37 - Closing Questions

If you liked what you heard and what to learn more about Chris and his service, check him out on Twitter @FiduciaInvest and his website

@the10thman1: Carvana $CVNA Deep Dive Jun 11, 2021

Show notes

Today’s episode we had a conversation with the anonymous twitter account @the10thman1 about his exceptional Carvana’s bull thesis. We covered everything that an investor needs to know about Carvana, whether it is Carvana’s history, the used car industry, Carvana’s Competitive advantages, what Carvana needs to improve in order to succeed, the bear thesis against Carvana and @the10thman1’s fair value for Carvana.

[0:00] Who is @the10thman1?
[8:30] Expectation Investing
[12:00] From Energy to Carvana ($CVNA )
[15:30] CVNA’s History
[19:40] The Used Car Industry
[26:00] A Better Way to Present Inventory Online
[28:00] Exceptional Quality Control
[30:00] Test Driving an used card with CVNA
[31:30] Seamless, Easy and Fast with CVNA
[36:00] CVNA’s Competitive Advantages
[36:10] Market Network Effects
[40:00] Economies of Scale
[44:00] Increasing Retail GPU
[55:00] Customer Financing
[58:00] Carvana Will Issue Equity
[1:00:00] CVNA’s Bear Thesis
[1:01:00] Insiders are Selling
[1:04:00] Trusting Management with a Rocky Past
[1:06:00] Competition
[1:08:00] Carvana’s Fair Value
[1:15:00] @the10thman1’s watchlist
[1:17:00] Closing Questions

If you liked what you heard, PLEASE go follow @the10thman1 on Twitter and subscribe to his website. He writes excellent content that's always worth a read.

Utako Kojima & Aya Weissman: Special Situation Investing In Japan Jun 04, 2021

Show notes

This week I'm thrilled to be joined by Utako Kojima and Aya Weissman. Both women work at Horizon Kinetics and help run the Japan Special Opportunity Strategy.

Aya is a Co-Portfolio Manager and Director of Asia Strategy at Horizon. With over 30 years of investment experience, Aya was previously a founder and Chief Investment Officer of AS Hirota Capital Management, LLC.

Prior to that, her experiences included acting as a portfolio manager specializing in Japanese securities for Kingdon Capital Management, LLC, a New York–based hedge fund; two years as a partner and Portfolio Manager of Feirstein Hirota Japan Partners, a Japanese long/short hedge fund; and 12 years at Salomon Smith Barney Asset Management, as a Managing Director and Senior Portfolio manager in the US value equity group where she was a founding member of the large cap value equity group, with responsibility for approximately $2 billion in assets

Utako joined the Firm in 2010 as a Portfolio Analyst, primarily focusing on the Firm’s Asia Strategy. Prior to this, Utako was an equity analyst at AS Hirota Capital Management, LLC. Her experience includes consulting in the Valuation Division at Shin-Nihon Ernst & Young Transaction Advisory Services, Tokyo, Japan.

Aya and Utako join the podcast to discuss a unique investment opportunity in Japan called the Parent-Subsidiary Relationship. In short, there's tremendous alpha to be had investing in smaller subsidiaries of larger companies at the point of inflection when the larger company buys back its smaller subsidiary.

The near hour-long conversation dives deep into the strategy, how they filter the 3,800 Japanese equity universe, The Mother's Index, and the changing cultural dynamics in Japanese business.

Thomas Bachrach: Kaspi.kz $KSPI, Allegiance Coal $AHQ, & Exotic Ideas May 28, 2021

Show notes

This week we have another returning guest, Thomas Bachrach! Thomas Bachrach is PFH Capital’s Principal and an OG Value Hive guest! He focuses on esoteric, off-the-beaten-path micro-cap companies, and on this episode, he shares two of his latest investments: Kaspi ($KSPI), a Kazakhstan fin-tech business, and Allegiance Coal ($AHQ.ASX), an Australian Coal Company. He also shares how he finds, researches, and manages companies located in different countries, and the investment mistakes he made in 2020, and what he learned from those mistakes.

[0:00] Who is Thomas Bachrach?
[4:00] What is PFH Capital’s Strategy?
[5:30] 2020 Mistakes
[13:00] Managing Investments in Different Countries During Covid.
[17:00] Why not invest in China?
[23:00] How to Find Companies in Different Countries?
[26:00] Investments in Malaysia: $MYEG
[32:00] Investment Thesis: Kaspien ($KSPI)
[43:00] Kazakhstan: The Asian Geneva
[50:00] Why Kaspien is so cheap?
[1:01:00] Investment Thesis: Allegiance Coal ($AHQ)
[1:23:00] Closing Questions

If you want to learn more about Thomas or his strategy at PFH Capital, check out these links:

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