Jim Royal, Author of "Zen of Thrift Conversions", on the basics of Thrift Conversions

Jim Royal, Author of "Zen of Thrift Conversions", joins the podcast to provide the basics of "Thrift Conversions", what that means, as well as examples that help illuminate them.

Jim's book, "Zen of Thrift Conversions", available on Amazon: https://www.amazon.com/Zen-Thrift-Conversions-Hidden-Stocks/dp/B08KH3THCR?crid=1RO9I0CVP07JD&keywords=the+zen+of+thrift+conversions&qid=1704737642&sprefix=zen+of+thrift,aps,161&sr=8-1&linkCode=sl1&tag=andrew613880e-20&linkId=aa5821380d1063911549c0014b02427a&language=en_US&ref_=as_li_ss_tl

Chapters:

[0:00] Introduction + Episode sponsor: Fundamental Edge

[1:49] The basics of "Thrift Conversions"

[8:51] Safety

[11:25] Management incentives

[15:46] How can investors participate in IPO of thrift conversions

[19:58] Needham

[23:50] Thrift Conversions in current banking environment

[27:26] Return on equities and repurchases

[35:39] Characteristics of poor de-mutualizations and thrift conversions

[39:14] Investor Activism

[45:08] Why thrift conversions sell during a given time frame and why some don't

[47:36] Worthwhile for investors to look at second step conversions (because so complicated)?

[51:00] Lightening round: why more mutuals in the Northeast than elsewhere? How much does geography matter?

[53:59] Three (3) interesting de-mutualizations to look at, according to Jim Royal

Today's episode is sponsored by: Fundamental Edge

You’ve probably heard it’s an “apprenticeship” system, or that you’ll “learn by osmosis”? But what if there was a better way to learn the equity analyst job? Fundamental Edge is re-defining training on the buy-side. Website: https://www.fundamentedge.com/

Whether you’re already in the seat or looking to break in, the Analyst Academy from Fundamental Edge offers a thorough and flexible path to developing the tools and frameworks employed by leading hedge funds. Breaking in: https://www.fundamentedge.com/breaking-in

Check out the Academy syllabus and sign up for future free content: https://fundamental-edge.ck.page/academyinfo