This is a podcast about finding undervalued stocks, deep value investing, hedge funds, shareholder activism, buyouts, and special situations.
We uncover the tactics and strategies for finding good investments, managing risk, dealing with bad luck, and maximizing success.
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Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, and Jake Taylor. We are live every Tuesday at 1.30pm E / 10.30am P. ────────────────────── VALUE OPTIONS LETTER Three to five curated ideas every week — cash-secured puts, covered calls, and spreads on businesses we'd want to own at strikes we'd be willing to pay. Every trade includes the business thesis in plain English, the fair-value estimate and its key assu...
Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, and Jake Taylor. We are live every Tuesday at 1.30pm E / 10.30am P. ────────────────────── VALUE OPTIONS LETTER Three to five curated ideas every week — cash-secured puts, covered calls, and spreads on businesses we'd want to own at strikes we'd be willing to pay. Every trade includes the business thesis in plain English, the fair-value estimate and its key assump...
Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, and Jake Taylor. We are live every Tuesday at 1.30pm E / 10.30am P. ────────────────────── VALUE OPTIONS LETTER Three to five curated ideas every week — cash-secured puts, covered calls, and spreads on businesses we'd want to own at strikes we'd be willing to pay. Every trade includes the business thesis in plain English, the fair-value estimate and its key assumpti...
Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, and Jake Taylor. Soldier of Fortune: Warren Buffett, Sun Tzu and the Ancient Art of Risk-Taking ( Kindle ) We are live every Tuesday at 1.30pm E / 10.30am P. See our latest episodes at https://acquirersmultiple.com/podcast About Jake Jake's Twitter: https://twitte...
Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, and Jake Taylor. Soldier of Fortune: Warren Buffett, Sun Tzu and the Ancient Art of Risk-Taking ( Kindle ) We are live every Tuesday at 1.30pm E / 10.30am P. See our latest episodes at https://acquirersmultiple.com/podcast About Jake Jake's Twitter: https://twitter.co...
Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, and Jake Taylor. Soldier of Fortune: Warren Buffett, Sun Tzu and the Ancient Art of Risk-Taking ( Kindle ) We are live every Tuesday at 1.30pm E / 10.30am P. See our latest episodes at https://acquirersmultiple.com/podcast About Jake Jake's Twitter: https://twitter.com/fa...
Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, and Jake Taylor. Soldier of Fortune: Warren Buffett, Sun Tzu and the Ancient Art of Risk-Taking ( Kindle ) We are live every Tuesday at 1.30pm E / 10.30am P. See our latest episodes at https://acquirersmultiple.com/podcast About Jake Jake's Twitter: https://twitter.com/fa...
Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, and Jake Taylor. Soldier of Fortune: Warren Buffett, Sun Tzu and the Ancient Art of Risk-Taking ( Kindle ) We are live every Tuesday at 1.30pm E / 10.30am P. See our latest episodes at https://acquirersmultiple.com/podcast About Jake Jake's Twitter: https://twitter.com/farnam...
Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, and Jake Taylor. Soldier of Fortune: Warren Buffett, Sun Tzu and the Ancient Art of Risk-Taking ( Kindle ) We are live every Tuesday at 1.30pm E / 10.30am P. See our latest episodes at https://acquirersmultiple.com/podcast About Jake Jake's Twitter: https://twitter.com/farnamjake...
Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, and Jake Taylor. Soldier of Fortune: Warren Buffett, Sun Tzu and the Ancient Art of Risk-Taking ( Kindle ) We are live every Tuesday at 1.30pm E / 10.30am P. See our latest episodes at https://acquirersmultiple.com/podcast About Jake Jake's Twitter: https://twitter.com/farnamjake1 Ja...
Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, and Jake Taylor. Soldier of Fortune: Warren Buffett, Sun Tzu and the Ancient Art of Risk-Taking ( Kindle ) We are live every Tuesday at 1.30pm E / 10.30am P. See our latest episodes at https://acquirersmultiple.com/podcast About Jake Jake's Twitter: https://twitter.com/farnamjake1 Jake's...
Derek Pilecki from Gator Capital discusses long/short financials investing, focusing on regional banks, non-banks, and insurance. He explains his deep value strategy, highlights opportunities in small-cap banks, and addresses risks like AI's impact on banking and credit quality. The episode also covers the valuation discrepancies between large and small-cap financials and investment opportunities in European banks and financial advisors, concluding with Jake Taylor's philosophical take on AI and human decision-making using Munger's orangutan analogy.
Jonathan Tepper, founder of Private Capital, shares his investment philosophy, heavily influenced by his book "The Myth of Capitalism," focusing on dominant companies and high free cash flow. He provides a case study of Booking.com, discusses AI's potential disruption across various industries, and reflects on his new memoir, "Shooting Up." The episode also includes Jake Taylor's "Veggie Segment" on the evolution of intelligence, investor mastery levels, and a comprehensive market analysis covering Mag Seven, value vs. growth, and specific company challenges like Tesla.
Juan Torres from Neuberger Berman provides an in-depth look at emerging market equities, noting current valuation dispersion, with cheap opportunities in various countries and sectors despite some expensive pockets like Taiwan. He explains their value-driven strategy, focusing on country-specific risks and bottom-up analysis over macro-led approaches. Jake Taylor then presents a compelling "veggie" segment, using a rat experiment analogy to illustrate how repetitive market behaviors, such as "buying the dip," can become ingrained habits, potentially leading to poor decisions when market conditions fundamentally shift.
Jay Hatfield from Infracap provides insights into their income-focused investment strategies, including the use of preferred stocks, high-yield bonds, and actively managed, short-term covered calls to generate stable income and alpha. He also shares his unique macroeconomic views, expressing significant concerns about the BLS's delayed and flawed inflation reporting, arguing that it misleads the Federal Reserve into maintaining overly tight monetary policies. The discussion also covers the concept of communication resolution, distinguishing between low and high-fidelity information in public discourse, and its implications for understanding complex topics like economic data.
Value investor Steve, known as "Unemployed Value Degen," discusses the recent outperformance of small value stocks and its implications. He provides in-depth analyses of Newell Brands' turnaround and Abacus Global Management's life settlements business. The episode also explores the multifaceted impact of AI, balancing its potential as a speculative bubble with its role as a transformative economic force, and offers insights into the metals, energy, and critical minerals markets.
This episode features Ian Cassel on MicroCapClub's acquisition of Planet Microcap, offering insights into the current microcap market, investment opportunities, and the benefits of public listings for small businesses. Jake Taylor then delves into Thomas Aquinas' Four Idols—Wealth, Power, Pleasure, and Honor—translating them into investor archetypes and offering diagnostic questions to help investors avoid self-sabotage and cultivate better habits. The conversation also covers optimal position sizing and the art of execution.
Andrew Summers of Summers Value Partners discusses the unique complexities and current opportunities within the healthcare and biotech sectors, highlighting attractive valuations, an ongoing innovation cycle, and anticipated M&A activity driven by patent expirations. He shares his firm's targeted, de-risked investment approach, activist experiences, and insights into specific investments like Restore 3D's personalized orthopedics. The episode also features a segment on Vavilovian Mimicry in financial markets and the importance of non-consensus investing.
Value investor Gary Mishuris of Silver Ring Value Partners discusses his intrinsic value philosophy, emphasizing predictable businesses, honest management, and a large margin of safety. He illustrates his approach with case studies on Finia and Warner Brothers Discovery, highlighting the importance of understanding how price asks questions, identifying catalysts, and navigating market irrationality through auction dynamics and even strategic option use. Jake Taylor also shares ant colony wisdom, providing unique mental models for investor networks and idea flow.
This episode features Russell Napier explaining why understanding financial history is crucial, particularly when challenging the "rational economic man" assumption. He details the rise of the regulatory state and financial repression, where governments manipulate capital allocation for national security and debt reduction, rather than relying solely on fiscal or monetary policy. Napier also explores the inflationary implications of global supply chain shifts and the exciting, albeit lonely, opportunities for value investors in this new economic regime, drawing parallels to the 1966-1982 period.
Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, and Jake Taylor. Soldier of Fortune: Warren Buffett, Sun Tzu and the Ancient Art of Risk-Taking ( Kindle ) We are live every Tuesday at 1.30pm E / 10.30am P. See our latest episodes at https://acquirersmultiple.com/podcast About Jake Jake's Twitter: https://twitter.com/farnamjake1 Jake's book: The Rebel Allocator https://amzn....
Todd Wenning of K&A Capital and Flyover Stocks discusses his approach to finding quality small cap companies with economic moats, exemplified by Games Workshop and Old Dominion Freight Lines. The conversation also explores broader economic indicators, consumer behavior, and the challenges faced by industries like trucking and CPG. Jake Taylor introduces "The Library of Mistakes," categorizing common financial errors to emphasize the importance of learning from history in investing.
Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, and Jake Taylor. Soldier of Fortune: Warren Buffett, Sun Tzu and the Ancient Art of Risk-Taking ( Kindle ) We are live every Tuesday at 1.30pm E / 10.30am P. See our latest episodes at https://acquirersmultiple.com/podcast About Jake Jake's Twitter: https://twitter.com/farnamjake1 Jake's book: The Rebel Allocator https://amzn.to/2sgip...
Jonathan Boyar of Boyer Value Group shares his firm's opportunistic value investing approach, focusing on identifying mispriced assets and catalysts over a 2-4 year horizon. He explains their shift from deep value to quality, the importance of time arbitrage and small-cap opportunities, and his detailed idea generation process. The discussion also covers specific investment cases such as Unifirst, Uber, MSG Sports, and Braves, highlighting their unique value drivers and Boyar's perspective on market inefficiencies and the future of fundamental investing.
This episode features Seth Cogswell of Running Oak, who outlines his unique "consistently not stupid" investment philosophy, emphasizing disciplined valuation, earnings growth, and downside risk mitigation. He offers a critical perspective on passive investing, highlighting its overlooked risks and impact on market efficiency. The discussion also delves into the AI investment boom, questioning the sustainability of current spending versus revenue and exploring its potential societal implications beyond first-order thinking.
Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, and Jake Taylor. Soldier of Fortune: Warren Buffett, Sun Tzu and the Ancient Art of Risk-Taking ( Kindle ) We are live every Tuesday at 1.30pm E / 10.30am P. See our latest episodes at https://acquirersmultiple.com/podcast About Jake Jake's Twitter: https://twitter.com/farnamjake1 Jake's book: The Rebel Allocator https://amzn.to/2sgip3l ABOUT THE...
Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, and Jake Taylor. Soldier of Fortune: Warren Buffett, Sun Tzu and the Ancient Art of Risk-Taking ( Kindle ) We are live every Tuesday at 1.30pm E / 10.30am P. See our latest episodes at https://acquirersmultiple.com/podcast About Jake Jake's Twitter: https://twitter.com/farnamjake1 Jake's book: The Rebel Allocator https://amzn.to/2sgip3l ABOUT THE POD...
In this episode, author Luca Dellanna explains ergodicity through compelling examples, revealing why survival is paramount over performance in the long run. He then delves into "Winning Long-Term Games," contrasting short-term tactics with sustainable strategies like building trust and relationships. The discussion also covers the Kelly Criterion, reproducible success, the "63% Rule," and the psychological traps of hindsight bias and FOMO, providing practical insights for achieving durable success.
Colin King, founder of Circle City Capital Group, shares his unique approach to entrepreneurship through acquisition, highlighting his opportunistic strategy, the challenges of his first trucking business, and the benefits of remote, e-commerce-focused ventures. He offers practical advice for aspiring acquirers, emphasizes starting small, and explores future growth avenues, including customer-funded public offerings. The episode also delves into a philosophical discussion on the role of human vice in societal progress and current market dynamics.
Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, and Jake Taylor. Soldier of Fortune: Warren Buffett, Sun Tzu and the Ancient Art of Risk-Taking ( Kindle ) We are live every Tuesday at 1.30pm E / 10.30am P. See our latest episodes at https://acquirersmultiple.com/podcast About Jake Jake's Twitter: https://twitter.com/farnamjake1 Jake's book: The Rebel Allocator https://amzn.to/2sgip3l ABOUT THE PODCAST Hi, I'm...
