#35: Leigh Goehring On The Generational Opportunity In Energy Stocks Today
Play episode · 1 hr
You could say that natural resources run in Leigh Goering's blood. The son of two oil and gas engineers, Leigh has spent nearly his entire life studying markets and investments related to commodities. Over the past 30 years, he has become one of the most brilliant and passionate analysts and money managers in the industry. In this conversation, Leigh shares the details of his macro and micro research process and how he applies them to investing in natural resource stocks. He also details the case for a coming energy crisis and why energy stocks present investors with a generational opportunity today. For notes and links related to this episode visit TheFelderReport.com.
The Contrarian Investor Podcast
The Contrarian Investor Podcast
Nathaniel E. Baker
Opportunities May Be Brewing in Cyclical Stocks: Christian Putz, ARR Investments
Become a premium member and receive episodes earlier and without ads or announcements! Sign up here for just $8/month or $88/year (these prices increase Nov. 1) Christian Putz is an Austrian-born hedge fund manager currently based in London. His fund has outperformed benchmarks this year during one of the more unpredictable periods in recent memory. Behind this success is an understanding and appreciation of the big-picture macro environment. Only when that is taken into account does the fund look at individual stocks. Right now the macro picture is mostly benign with the U.S. election looming. Many sectors remain strong. There are buying opportunities brewing, especially in the oil and gas industry. Content (Spotify users can skip to the segment directly by clicking on the timestamp) * The macro picture versus individual stocks and where things stand right now (7:28); * Economically, things look rather benign. Buying opportunities may abound in the energy industry especially (13:09); * Risks "are more to the upside," with steepening yield curve. This may bode well for the financial sector (16:05); * Recent months have seen a rebound in copper prices. That may be overdone. There is a bear market case to be made post election (18:38); * Background on the guest (22:39); * The fund's current portfolio allocation (32:10); * The benefits of utilities right now (33:42); For more information on the guest: * Website: ARRinvestments.com * LinkedIn Not intended as investment advice.
44 min
The Acquirers Podcast
The Acquirers Podcast
Tobias Carlisle
Value: After Hours S02 E41 Sushi Roll Economics, Loeb's Mickey Mouse Activism $DIS, $CMCSA
Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, Bill Brewster and Jake Taylor. See our latest episodes at https://acquirersmultiple.com/  Donate to the FinTwit Value vs Growth War here (it's for a good cause--The American Foundation for Suicide Prevention): https://www.gofundme.com/f/fintwit-war-value-vs-growth About Jake: Jake is a partner at Farnam Street. Jake's website: http://www.farnam-street.com/ Jake's podcast: https://twitter.com/5_GQs Jake's Twitter: https://twitter.com/farnamjake1 Jake's book: The Rebel Allocator https://amzn.to/2sgip3l About Bill: Bill runs Sullimar Capital Group, a family investment firm. Bill's website: https://sullimarcapital.group/ Bill's Twitter: @BillBrewsterSCG ABOUT THE PODCAST Hi, I'm Tobias Carlisle. I launched The Acquirers Podcast to discuss the process of finding undervalued stocks, deep value investing, hedge funds, activism, buyouts, and special situations. We uncover the tactics and strategies for finding good investments, managing risk, dealing with bad luck, and maximizing success. SEE LATEST EPISODES https://acquirersmultiple.com/podcast/ SEE OUR FREE DEEP VALUE STOCK SCREENER https://acquirersmultiple.com/screener/ FOLLOW TOBIAS Website: https://acquirersmultiple.com/ Firm: https://acquirersfunds.com/ Twitter: https://twitter.com/Greenbackd LinkedIn: https://www.linkedin.com/in/tobycarlisle Facebook: https://www.facebook.com/tobiascarlisle Instagram: https://www.instagram.com/tobias_carlisle ABOUT TOBIAS CARLISLE Tobias Carlisle is the founder of The Acquirer’s Multiple®, and Acquirers Funds®. He is best known as the author of the #1 new release in Amazon’s Business and Finance The Acquirer’s Multiple: How the Billionaire Contrarians of Deep Value Beat the Market, the Amazon best-sellers Deep Value: Why Activists Investors and Other Contrarians Battle for Control of Losing Corporations (2014) (https://amzn.to/2VwvAGF), Quantitative Value: A Practitioner’s Guide to Automating Intelligent Investment and Eliminating Behavioral Errors (2012) (https://amzn.to/2SDDxrN), and Concentrated Investing: Strategies of the World’s Greatest Concentrated Value Investors (2016) (https://amzn.to/2SEEjVn). He has extensive experience in investment management, business valuation, public company corporate governance, and corporate law. Prior to founding the forerunner to Acquirers Funds in 2010, Tobias was an analyst at an activist hedge fund, general counsel of a company listed on the Australian Stock Exchange, and a corporate advisory lawyer. As a lawyer specializing in mergers and acquisitions he has advised on transactions across a variety of industries in the United States, the United Kingdom, China, Australia, Singapore, Bermuda, Papua New Guinea, New Zealand, and Guam.
1 hr 4 min
Top Traders Unplugged
Top Traders Unplugged
Niels Kaastrup-Larsen
112 The Art of Investing with Scott Lynn of Masterworks
"You have this asset class which has been around for hundreds of years, but up until recently I think people haven't fully appreciated the characteristics." - Scott Lynn (Tweet) Scott Lynn is the Founder and CEO of Masterworks. He began his career as a serial entrepreneur, starting tech companies focused on casual gaming, online advertising and financial technology. All along the way he collected art, and after seeing the data available in the last twenty years thanks to the Internet, Scott decided to pursue art as an investment. Art as an asset class has been around for hundreds of years, but only recently has been seen as a viable investment opportunity - made possible by Masterworks. Listen in on today's episode to find out why art is becoming more popular as an asset class among investors, what the key macro drivers are for art, and how Masterworks is making art an accessible investment opportunity. Thanks for listening and please welcome our guest Scott Lynn. Subscribe on: In This Episode, You'll Learn: How the art market is different today than it was twenty five years ago How old art is as an asset class How analyzing art is different from analyzing other asset classes When did art as an asset class begin to be studied How art returns are related to the growth of the top 1% "There's so much opportunity in the art market compared to other asset classes." - Scott Lynn (Tweet) How art prices are driven by a decreasing supply of new works How should an art collector think about risk What is a bad environment for art investment How Masterworks invests in art What is a standard commission when buying a piece of art What are the trends among art investors Connect with Masterworks: Visit the Website: Masterworks Call Masterworks: +1 203-518-5172 E-Mail Masterworks: support@masterworks.io Follow Scott Lynn on LinkedIn   "The thing that amazes me about the art market is how it's still very much in its infancy." - Scott Lynn (Tweet) Subscribe on: Full Transcript The following is a full detailed transcript of this conversion. Click here to subscribe to our mailing list, and get full access to our library of downloadable eBook transcripts! Scott You think about the art market, art as an asset class is 1.7 trillion dollars. That's a number that's published by Deloitte and has been (more or less) confirmed by Sotheby's. Last year 68 billion dollars in art sold, so think it as a couple of percent turnover every year. Compare that to venture and private equity, which is 3.5 trillion dollars. There are six thousand firms that operate in venture, private equity, late-stage buyout, whatever, that help people allocate to the asset class. In the art market, there is nobody. Introduction Imagine spending an hour with the world's greatest traders, imaging learning from their experiences, their successes, and their failures. Imagine no more, welcome to Top Traders Unplugged, the place where you can learn from the best hedge fund managers in the world so you can take your manager due diligence or investment career to the next level. Before we begin today’s conversation remember to keep two things in mind: all the discussion that we’ll have about investment performance is about the past, and past performance does not guarantee or even infer anything about future performance. Also understand that there’s a significant risk of financial loss with all investment strategies and you need to request and understand the specific risks, from the investment manager, about their products before you make investment decisions. Here’s your host, veteran hedge fund manager Niels Kaastrup-Larsen. Niels Hey everyone and welcome to another edition of Top Traders Unplugged where today I'm joined by Scott Lynn, who is the founder and CEO of Masterworks. Today we are really going to talk alternative investments. So, first off, Scott, thanks so much for coming on the podcast. I'm excited about our conversation today because it's a new asset class for me...
58 min
Resolve's Gestalt University
Resolve's Gestalt University
ReSolve Asset Management
ReSolve Riffs on a Post-Factor World
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. Before you begin, we highly recommend that you first watch this short video, which serves as a foreword and sets the table for this episode. After enjoying many years of immense popularity, factor investing (also known as alternative risk premia or smart beta) is suffering from significant underperformance, both across asset-classes and especially within security selection. While some factors have fared worse than others, there’s no doubt that the space as a whole is enduring an intense and prolonged winter. The team at ReSolve has been thinking deeply about this theme for the past two years, and this episode expands on the framework we have developed to understand the current environment for factors – and for the generation of sustainable alpha more broadly. Topics include: * The origins of factor investing and why they used to work * The adoption curve – similarities and differences between investment edges and new technologies * Reflexivity and the “hard problem of investing” * Value investing – why the most intuitive risk premium has suffered the most * How changes in markets’ microstructures and the macroeconomic backdrop affect these dynamics We also offer ideas on how investors might seek sustainable edges going forward and how to position their portfolios to this new reality. This is an ongoing and open-ended discussion, and we certainly welcome your thoughts and feedback. Thank you for watching and listening. See you next week.
1 hr 28 min
Mining Stock Education
Mining Stock Education
Mining Stock Education
Gold Going Parabolic But Not Yet says Pro Trader Nick Santiago
Professional Trader Nick Santiago shares how he is currently trading and discusses his approach to trading stocks. Nick sees gold going parabolic but not yet as it needs to still find a near-term bottom. Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He successfully managed money for a large, affluent private client group. Nick is an expert in Technical Analysis. He is a highly regarded and accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. Nick now co-heads the education department at InTheMoneyStocks.com and enlightens thousands of members, along with providing consulting services to hedge funds and institutions. 0:00 Introduction 1:33 Gold going parabolic but not yet 4:25 Silver can go to $40/oz but might take longer than a year 7:10 Money printing fuels general equities higher 8:04 Discerning the coming stock market crash 9:59 Short trades you are engaged in? 11:30 Your best option trades? 12:29 If Biden wins, when will you start shorting the market? 13:48 Earning season trades? 15:14 My options trading is up 1,000% this year Nick’s website: https://inthemoneystocks.com/ Show sponsor: http://www.aurcana.com/ TSXV: AUN OTC:AUNFF Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39 The content found on MiningStockEducation.com is for informational purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. It is based on opinions, SEC filings, current events, press releases and interviews but is not infallible. It may contain errors and MiningStockEducation.com offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on MiningStockEducation.com or our videos. We may hold equity positions in and/or be compensated by some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. MiningStockEducation.com may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on MiningStockEducation.com is to be used at your own risk. By reading MiningStockEducation.com, you agree to hold MiningStockEducation.com, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred.
20 min
Value Hive Podcast
Value Hive Podcast
Brandon Beylo
Deep Value Opportunities in Japan & Australia w/ Will Thrower, Dumile Capital (Episode 47)
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. I couldn't be more excited to partner with TIKR. Will Thrower is one of the most under-followed investors on Twitter. In fact, his Twitter profile is like the companies he hunts for: undervalued with long runways for growth. Our conversation took us from chicken farms in China to equity trading offices in London. How Will got started in markets is such a fascinating story. It was one blog post, picked up by Bloomberg, that led to a job as an equity analyst.  We spend over an hour discussing how Will finds ideas, the opportunity set in Japan and Australia, and why US investors should think twice before passing over an International business because, "A US competitor can do the same thing." Here's the time-stamp for our chat:  * [0:00] The Chicken Farm * [5:30] What led you to become an equity researcher? * [20:30] The Beenos Thesis (3328.T) * [33:20] Questions that You Want Management to Answer. * [35:20] An Ideal Investment * [40:40] Nano Cap Investments and Competitive Advantages  * [54:00] Positioning Sizing * [1:01:10] Advance Nano Tek (ASX: $ANO) * [1:16:00] More from Will Thrower * [1:19:22] Closing Questions If you enjoyed our conversation and want to learn more about Will, check out the following resources:  * Will's Twitter  * Will's Personal Investment Blog ***Disclaimer: Nothing you hear on this podcast is in any way, shape or form to be construed as investment advice. The guest on this podcast may hold positions in any/all names mentioned during the podcast. This is not investment advice and investors should always conduct personal due diligence before investing in any security. Past performance of any funds mentioned are not indicative of future returns.**
1 hr 25 min
The Derivative
The Derivative
RCM Alternatives
Debunking Trend Following’s Dead Theories with Kathryn Kaminski
Is trend following too big? Can managed futures do it without the bond tailwind they’ve had for 30 years? Does globalization take away diversification? We’re debunking these trend following myths/truths (?) in today’s podcast – and today’s guest is ideal to take us through the ins-and-outs of these trend following theories. We’re joined by Kathryn Kaminski, PHD, CAIA, and Chief Research Strategist & Portfolio Manager at AlphaSimplex who has written the literal book and research papers on these theories and more. We’re also talking with Kathryn about AlphaSimplex, COVID puppies, the Nashville predators, diversifying across trends,  Dr. Andrew Lo, research papers & books, pure risk premium, crisis alpha, trend following “doesn’t work” theories, alternative data, being an MIT professor, homemade Swedish meatballs, risk/volatility targeting, and being an alternatives person in a stock town. 00:00-01:43 – Intro 01:44-13:18 = An Impressive Background with a touch of Sweden 13:19-35:03 = Alpha Simplex, Trend Models, & Crisis Alpha 35:04-53:19 = Debunking Trend Following’s Dead & Inflation Environments 53:20- 01:09:51 = Risk Targeting & 2020: A year in review 01:09:52-01:13:29 = Favorites Follow along with Katy on LinkedInand check out the AlphaSimplex website. And last but not least, don't forget to subscribe to The Derivative, and follow us on Twitter, or LinkedIn, and Facebook, and sign-up for our blog digest. Disclaimer: This podcast is provided for informational purposes only and should not be relied upon as legal, business, or tax advice. All opinions expressed by podcast participants are solely their own opinions and do not necessarily reflect the opinions of RCM Alternatives, their affiliates, or companies featured. Due to industry regulations, participants on this podcast are instructed not to make specific trade recommendations, nor reference past or potential profits. And listeners are reminded that managed futures, commodity trading, and other alternative investments are complex and carry a risk of substantial losses. As such, they are not suitable for all investors. For more information, visit www.rcmalternatives.com/disclaimer
1 hr 13 min
Alpha Trader
Alpha Trader
Seeking Alpha
Massive opportunity in 'digital transformation' - Jon Markman joins Alpha Trader
This week's Alpha Trader podcast features hosts Aaron Task and Stephen Alpher talking (mostly) tech with Jon Markman, founder and president of Markman Capital Insight. Before getting into individual stock picks, Markman first looks at the big picture: Going back about 80 years, whenever the Fed steps in to put the brakes on a bear market, one should expect the averages to go up five times over the following ten years. The Fed helped end the bear market, says Markman, on March 23 this year. Applying that 5x multiple to what the Dow (DJI) and the Nasdaq (COMP) were that day leads to 91,000 on the Dow and almost 34,000 on the Nasdaq in roughly 10 years. Before considering that extreme, consider that the S&P 500 (SP500) bottomed in 2009 at 666. Markman's target then for that index was 3,330, which was hit late in 2019. This, of course, doesn't mean that there will be any number of scares and sizable corrections along the way. These should be thought of as buying opportunities, particularly for those companies leading and benefitting from the "digital transformation," which Markman defines as the use of data and software to build new business models. A great example of this is Netflix (NFLX), which over two decades went from being a mail-order DVD business to offering bits of data in the cloud. Tap an image on your electronic device of choice, and the show begins. The company has 193M customers, a $234B market cap, and a stock that's up something like 15,000% over 20 years - all from harnessing the digital revolution. As you might imagine given the major wave he's talking about, Markman doesn't have a ton of interest in Netflix's earnings this week. Over the next 10-20 years, Netflix and others leading the digital revolution - think Amazon (AMZN), Peloton (PTON), and Zoom Video (ZM) to name just three - are all going to be multi-baggers (though Peloton and Zoom might be due for a correction). Now the above are very well-known (and hot) names. Maybe not as well-known, but with an equally great opportunity, is a player like Schrodinger (SDGR), a company delivering healthcare using digital tools. Another digital healthcare play is For those wishing to ride the digital revolution, but undecided about which horse to ride, Markman suggests Visa (V) and Mastercard (MA) as - more than any other companies - perfectly levered to e-commerce and the transformation of money to software. Other digital transformation long ideas discussed in the podcast, include The Trade Desk (TTD), a platform for the buying and selling of digital ad inventory, and enterprise workflow platform operator ServiceNow (NOW). Both have eye-popping charts, but massive opportunity over the next decade still awaits. We couldn't let Markman go without comment on two tech megacaps - Microsoft (MSFT) and Apple (AAPL). He's a fan of Microsoft, giving its post-Ballmer management kudos for moving the focus of the company away from selling devices and instead selling into the high-margin areas of digital space. He's not bullish on Apple though, worried about waning iPhone sales, and questioning the ability of the company to replace that revenue with other devices and services.
41 min
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