On this Dialogue episode of The Synopsis, we debreif on our Todd Haushalter interview and give an update on Evolution and Airbnb. We also talk about the "blue sky" scenario of Airbnb's ambitions. Check out our written business updates for $ABNB and $EVO below! Evolution 4Q24 Business Update Airbnb 4Q24 Business Update For full access to all of our updates and in-depth research reports, including our Airbnb and Evolution Extensive Research Reports, become a Speedwell Member here . Please reach ou...
Feb 25, 2025•57 min•Ep. 75
In this wildly insighful conversation with Evolution's Chief Product Officer Todd Haushalter , we have a wide ranging conversation on everything from Evolution's moats and why its so hard to make great product to game innovation and how Evolution plans to stay ahead of the competition. Todd Haushalter joined Evolution in 2015 and is responsible for having created billions of dollars of value for the company, in addition to having created many new live casino gaming formats that are among players...
Feb 18, 2025•2 hr 1 min•Ep. 74
In this episode of The Synopsis we read our latest Speedwell Research memo. If you prefer to read instead of listen to the memo, you can find access to the article below. This weeks memo is "The Invisible Competitor: When Creating Value is Better than Fighting for It " Memo Link: https://www.speedwellmemos.com/p/the-invisible-competitor-when-creating -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) – A Bit About this Memo (0:59) –Memo Reading Starts (21:08) – Connecting this Memo -*-*-*-*-*-*-*-*-*-*- Pu...
Feb 08, 2025•22 min•Ep. 73
In this fun and insightful conversation we talk to Matt Reustle . Matt was a credit analyst and then equity analyst at Goldman Sachs in New York. He later worked on the buy-side and then moved to become Colossus's CEO, which is the podcast group responsible for Business Breakdowns and Invest Like The Best. We talk about what people misunderstand about the Sell-side, why most investors fail with management meetings, what he learned from 200+ business breakdowns, and a few investing successes, as ...
Feb 06, 2025•1 hr 14 min•Ep. 72
In this interview, we talked with Barry Schwartz and Ernest Wong from Baskin Wealth Management on their investing philosophy and we cover a great variety of businesses. We discuss if you can quality invest in the energy sector, high multiple stock valuations, Costco vs Transdigm, how to rebase expectations, and differences in management of a fund versus seperately managed accounts, as well as much more! We hope you enjoy! *~*~*~*~* Get access to all of Speedwell Research's in-depth Research Repo...
Jan 29, 2025•1 hr 12 min•Ep. 71
In this company focused interview, we talk with "MBI", or Mostly Borrowed Ideas , as he is known on Twitter. We focus on just two companies: Spotify and Lululemon. In our Spotify segment we cover what an investor would have thought in 2021 about Spotify without the ex post facto analysis and walk through developments in the audio company up to current day. Our Lululemon discussion is centered around the recent shift in market sentiment on the business and how valid the adverse risks are. You can...
Jan 22, 2025•1 hr 58 min•Ep. 70
In this episode of The Synopsis we read an excerpt from our extensive research report of Axon! If you prefer to read instead of listen to the memo, you can find access to the article below. Memo Link: https://www.speedwellmemos.com/p/axon-business-history Become a Speedwell Member or Purchase the Axon Single Report Here -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) – Intro (1:25) –Memo Reading Starts (24:30) – Closing Comments -*-*-*-*-*-*-*-*-*-*- Purchase a Speedwell Membership to gain access to Spe...
Jan 17, 2025•25 min•Ep. 69
In this company focused interview, we talk with The Science of Hitting's Alex Morris on the Dollar Tree, Netflix, Disney, Match Group, Airbnb, and Spotify, in addition to touching on thoughts around when to exit a postion and how to stay open to new information. The Science of Hitting Research (or TSOH for short) is an investment research service that provides subscribers in-depth analysis on public equities. Learn more about it here . You can purchase Alex's new book, Buffett and Munger Unscrip...
Jan 14, 2025•1 hr 42 min•Ep. 68
On this Dialogue episode of The Synopsis, we took notes on all of our listener questions and answered different ones instead. In this wide ranging discussion we talk about lessons from the most boring business we covered, investing myths, our research process, and, yes, our listeners' questions too. Enjoy! For full access to all of our updates and in-depth research reports, become a Speedwell Member here . Please reach out to info@speedwellresearch.com if you need help getting us to become an ap...
Dec 27, 2024•1 hr•Ep. 67
On this Company episode of The Synopsis we cover Perimeter Solutions. Perimeter Solutions is the sole provider of a key fire fighting product, as well as other fire safety solutons. They went public through an acquistion vehicle controlled by Transdigm Founder and Billionaire, Nick Howley, as well as "The Outsiders" Author, William Thorndike. Nick Howley wants to apply the same model that made Transdigm so succesful to Perimeter Solutions. Access the Free Portion of our Perimeter Solutions Explo...
Dec 19, 2024•1 hr 19 min•Ep. 66
In this episode of The Synopsis we read our latest Speedwell Research memo. If you prefer to read instead of listen to the memo, you can find access to the article below. This weeks memo is "What is a Fair Investment Assumption? " Memo Link: https://www.speedwellmemos.com/p/what-is-a-fair-investment-assumption -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) – Housekeeping / Intro (0:25) –Memo Reading Starts (15:25) – Closing Comments -*-*-*-*-*-*-*-*-*-*- Purchase a Speedwell Membership to gain access t...
Dec 13, 2024•16 min•Ep. 65
On this Dialogue episode we give an update on two of our companies: Copart and Coupang! We talk about Coupang's new entrance into the luxury market and two call options for Copart. Plus a short diatribe on Temu and Aliexpress. You can read the 3Q24 business update on Coupang here and on Copart here . *Note: it is Copart's 1Q25 fiscal year* *Apologies, but it seems the mic recorded lower sound quality at times. We will fix it for future episodes* *~*~*~*~*~*~*~*~*~*~*~* For Coupang and Copart we ...
Dec 05, 2024•1 hr 5 min•Ep. 64
On this Dialogue episode we give an update on three of our companies: Axon, Constellation Software, and Dream Finders Homes. Plus a short tirade on the OTAs business model and companies that don't host quarterly earnings calls! You can read the 3Q24 business update on all three companies here . ( The written update is partially paywalled, so become a Speedwell Member today! Please reach out to info@speedwellresearch.com if you need help getting us to become an approved research vendor in order t...
Nov 27, 2024•45 min•Ep. 63
In this investment focused interview, we talk with Twitter's Compounding Quality on his investment philosophy, 3 step approach to valuation, how he screens for companies, when to sell, and much more! Find out more about Compounding Quality here and follow him on Twitter @QCompounding The mentioned Speedwell memo on Sell Side Price Targets can be found here . *~*~*~*~* Get access to all of Speedwell Research's in-depth Research Reports here. If you need help getting Speedwell added as an approved...
Nov 21, 2024•1 hr 26 min•Ep. 62
In this episode of The Synopsis we read our latest Speedwell Research memo. If you prefer to read instead of listen to the memo, you can find access to the article below. This weeks memo is "How Axon's Founder Built a $35bn Business: 10 Lessons from Rick Smith" Memo Link: https://www.speedwellmemos.com/p/how-axons-founder-built-a-35bn-business Get access to our full $AXON Research Report here . -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) – Housekeeping / Intro (1:03) –Memo Reading Starts (19:28) – C...
Nov 08, 2024•20 min•Ep. 61
On this Dialogue episode we talk about 3Q24 earnings for Floor & Decor, Meta, and Etsy. You can read this entire 3Q24 earnings update for free here . For full access to all of our updates and in-depth research reports, become a Speedwell Member here . *~*~*~*~* Link for Podcast Mentioned in the Show: "Dialogue. Meta, Etsy, and Snowballing Risks" ( Apple , Spotify ) *~*~*~*~* For all three companies we have longer, in-depth podcast episodes which you can listen to below. These are evergreen a...
Nov 05, 2024•1 hr 6 min•Ep. 60
On this episode we talk about 3Q24 earnings for CoStar Group ($CSGP) and Evolution ($EVO). The free versions of the earnings updates can be found here: CoStar Group , Evolution For full access to all of our updates and in-depth research reports, become a Speedwell Member here . For both companies we have longer, in-depth podcast episodes which you can listen to below. These are evergreen and give a lot of more details on each companies' history, business, industry, and competitve dynamics. Liste...
Oct 25, 2024•1 hr 1 min•Ep. 59
In this investment focused interview, we talk with Twitter's Sidecar Investor on partnering with great managers, position sizing, sourcing ideas, "stable assumptions", and when to not trust an operator, among much more! Find out more about Sidecar Investor here and follow him on Twitter @sidecarcap The Mentioned Memo on Home Depot can be found here . *~*~*~*~* Get access to all of Speedwell Research's in-depth Research Reports here. If you need help getting Speedwell added as an approved researc...
Oct 22, 2024•1 hr 12 min•Ep. 58
In this episode of The Synopsis we read our latest Speedwell Research memo. If you prefer to read instead of listen to the memo, you can find access to the article below. This weeks memo is "Minimum Viable Products versus Maximum Possible Products " Memo Link: www.SpeedwellMemos.com/mvps-versus-mpps -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) – Housekeeping (1:06) –Memo Reading Starts (13:24) – Closing Comments -*-*-*-*-*-*-*-*-*-*- Purchase a Speedwell Membership to gain access to Speedwell's Exten...
Oct 18, 2024•14 min•Ep. 57
On this episode we talk about a recent memo, Investing is Just Answering a Series of Questions: Explaining the Reverse DCF We cover what a Reverse DCF is, how do use one, common errors, and how an investor should conceptulize the outputs. We hope you enjoy! *~*~* For full access to all of our in-depth research reports, become a Speedwell Member here . *~*~* Other Speedwell Memos Mentioned in the Discussion The Investment Matching Principle (on the connection between position sizing and risk/ rew...
Oct 16, 2024•45 min•Ep. 56
In this wide spanning interview episode we talk with Biz Almanac's Andy on investment philosophy, the differences of Founder-led businesses, as well as many different companies he's written up on his Substack, including TerraVest, Alimentation Couche Tard, Burford, Progressive, TFI, Old Dominion, Spotify, Mercardo Libre, and more! Find out more about Biz Almanac's research and writings here and follow him on Twitter @BizAlmanac. -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) Intro (0:59) What is your I...
Oct 09, 2024•1 hr 42 min•Ep. 55
In this episode of The Synopsis we read our latest Speedwell Research memo. If you prefer to read instead of listen to the memo, you can find access to the article below. This weeks memo is "Investing is Just Answering a Series of Questions: Explaining the Reverse DCF" Memo Link: https://www.speedwellmemos.com/p/investing-is-just-answering-a-series Recomended Article Podcast on Hurdle Rates: ( Spotify , Apple ) Or read it here: How Pies, Proofs, and Punch Cards Hold Key Insights into the Cost of...
Oct 03, 2024•20 min•Ep. 54
In this company episode on CoStar Group, Speedwell Research draws on their extensive research report to cover everything from Founder Andy Florance's entrance into the real estate data space from his Princeton dorm room to becoming the dominant real estate data and analytics provider. Florance not only beat out competition in the commerical data space, but succesfully entered several new markets including taking a fledging apartments listing platform and driving it to the #1 spot. Today CoStar i...
Sep 27, 2024•3 hr 16 min•Ep. 53
On this episode we talk about a recent memo, What You Don't Know About Sell-side Price Targets We cover several factors that influence a sell-side analysts' recommendations and explain that price targets don't mean what you think they do. We hope you enjoy! For full access to all of our in-depth research reports, become a Speedwell Member here . -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) Intro (1:19) Memo Overview (4:51) What Does the Sell-side Do? (10:12) Tech Bubble Era Sell-Side Analyst (15:14) ...
Sep 05, 2024•41 min•Ep. 52
In this episode of The Synopsis we read our latest Speedwell Research memo. If you prefer to read instead of listen to the memo, you can find access to the article below. This weeks memo is "What You Don't Know About Sell-side analyst Price Targets" Memo Link: https://www.speedwellmemos.com/p/what-you-dont-know-about-sell-side -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) – Intro (1:19) –Memo Reading Starts (20:38) – Closing Comments -*-*-*-*-*-*-*-*-*-*- Purchase a Speedwell Membership to gain access...
Aug 23, 2024•21 min•Ep. 51
On this episode we talk about 2Q24 earnings for Floor & Decor ($FND) and Evolution ($EVO). For both companies we have longer, in-depth podcast episodes which you can listen to below. These are evergreen and give a lot of more details on each companies' history, business, industry, and competitve dynamics. Listen to the Floor & Decor Company Podcast Episode here: Apple , Spotify Listen to the Evolution Company Podcast Episode here: Apple , Spotify For full access to all of our in-depth re...
Aug 15, 2024•57 min•Ep. 50
In this episode of The Synopsis we read an excerpt from our extensive research report of Coupang! If you prefer to read instead of listen to the memo, you can find access to the article below. Memo Link: https://www.speedwellmemos.com/p/coupang-business-history Become a Speedwell Member or Purchase the Coupang Single Report Here The Synopsis Coupang Company Podcast Episode: Apple , Spotify -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) – Intro (1:05) –Memo Reading Starts (15:32) – Closing Comments -*-*...
Aug 09, 2024•16 min•Ep. 49
On this Company episode of The Synopsis we cover Porsche AG. Porsche is a brand that has tried to become "luxury at scale" with over 300k units produced annually versus undisputed luxury car brands who produce closer to ~10k. While their strategy might have diluted their brand, they still enjoy superior positioning compared to most premium car manufacturs like BMW and Mercedes-Benz. Listen to this episiode to learn not just about Porsche's history and business model, but also about the car indus...
Jul 31, 2024•1 hr 2 min•Ep. 48
On this episode we talk about a recent memo, What is a Great Business? Other Memos Mentioned: The Consumer's Hierarchy of Preferences: The Other Side of the Consumer Value Prop For full access to all of our in-depth research reports, become a Speedwell Member here . -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) Intro (1:53) Observing versus Creating a Great business (6:07) Great Businesses through the lens of The Consumer's Hierarchy of Preferences (8:27) Pressure Cooker Metaphor (15:15) Is Reinvestme...
Jul 18, 2024•47 min•Ep. 47
On this episode we talk Constellation Software and RH! Listen to our full company-specific episodes on Constellation Software and RH in our feed if you haven't already! *Note* After this recording we switched how we record our podcasts, so you should enjoy better sound quality in the future! Memo Mentioned: The Investment Matching Principle -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) Intro (1:40) Constellation Software Update (33:09) RH Update (52:42) Conclusion -*-*-*-*-*-*-*-*-*-*- Become a Speedw...
Jul 09, 2024•54 min•Ep. 46
