The Intelligent Investing Podcast
Eric Schleien
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Eric Schleien discusses value investing, rational investment analysis, and vital mental models.
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Jan 30, 2023
#173: The Ultimate Value Investment - Robbie Kramer
In today's episode, I sit down with my buddy Robbie Kramer to discuss the ultimate value investment, relationships. Last week, I had the pleasure discussing investing on his show. You can listen to the episode, here. If you prefer to watch it on YouTube, you can watch the episode, here.
The most important relationship you'll ever invest in is probably who you end up marrying. Choosing quality romantic partners is Robbie Kramer's specialty. It was an absolute joy to sit down with him and chat all things relationships, romance, and dating.
* Watch this episode on YouTube
Transcript
For a transcript of today's episode, click here. Show Notes
[00:01:18] Marrying the right person
[00:02:35] People who are successful in their careers yet stunted in their relationships
[00:10:05] Common Mistakes Men Make
[00:13:07] Instagram and Online Dating
[00:14:53] Three Prompts for Dating Profiles
[00:19:56] Socially Awkward Men
[00:22:29] “...Some of these guys are worth a hundred million dollars, running big funds, very wealthy. Social, but either they're still single or they have a wife who they're pretty much like in an emotionally abusive relationship, like they're just not happy. If they're very honest with themselves, they're not happy with their romantic life, and that stuns me how you could be actually fairly socially incompetent.”
[00:23:35] Unhappy Relationships
[00:24:51] Social Freedom Exercises
[00:27:41] The Wealthy Executive Who Hides Behind Masks
[00:33:14] Optimizing your life Links From The Episode
* Profile Prompts
* Photo Feeler Get In Touch With Robbie Kramer
* Instagram
* Inner Confidence
* The Leverage Podcast
My Other Podcast
Hey All! I’ve started a second show completely devoted to the field of Ontology which is another huge passion of mine. Please check out The Eric Scheien Podcast which is an ontological podcast where I break down distinctions of human consciousness as an access to enhancing performance. HELP OUT THE PODCAST
If you like The Intelligent Investing Podcast, please consider leaving a rating and review on Apple Podcasts. It takes less than 30 seconds to do and makes a huge difference! You can also join the Facebook page!
You can subscribe to the podcast on the following platforms:
* Apple Podcasts
* Stitcher
* TuneIn
* Spotify
* Podbean
* iHeart Radio
* YouTube GET IN TOUCH WITH ERIC SCHLEIEN
Facebook | LinkedIn | Twitter | YouTube | GSCM | Instagram
Email: IntelligentInvesting@gmail.com
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Jun 2, 2022
#172: The New Model For Shareholder Activism; The BS Myth Around ”Soft Skills”; Measuring The Wrong Stuff
Summary
In this episode, I break down the current paradigm for shareholder activism, speak to the new model that I invented which is vastly superior both in results and reliability. We discuss the myth of "if it can't be measured, it doesn't exist", the myth around "soft skills", and how people often ask the wrong questions or measure the wrong stuff due to perverted influences by HR departments.
If you're interested in more discussion of the new model for shareholder activism I developed, see the following links below:
* A New Model For Shareholder Activism (Podcast)
* The Proxy Activism Project
* A New Model For Shareholder Activism (Blog)
* A New Model For Shareholder Activism (YouTube)
* A New Model For Shareholder Activism (Eric Schleien / John King)
* Netflix, Sears, and Tribal Leadership (Eric Schleien / John King)
* How To Keep Large Companies Innovative (Eric Schleien / Scott Forgey)
* Eric Schleien discussing Tribal Leadership
* Eric Schleien discussing Activist Investing
* CBRE Case Study – Tribal Leadership
* Comparing Transformational & Transactional Leadership (Eric Schleien)
* Cultural Issues In The Hospital Industry (Eric Schleien) New Podcast
Hey All! I’ve started a second show completely devoted to the field of Ontology which is another huge passion of mine. Please check out The Eric Scheien Podcast which is an ontological podcast where I break down distinctions of human consciousness as an access to enhancing performance. HELP OUT THE PODCAST
If you like The Intelligent Investing Podcast, please consider leaving a rating and review on Apple Podcasts. It takes less than 30 seconds to do and makes a huge difference! You can also join the Facebook page!
You can subscribe to the podcast on the following platforms:
* Apple Podcasts
* Stitcher
* TuneIn
* Spotify
* Podbean
* iHeart Radio
* YouTube GET IN TOUCH WITH ERIC SCHLEIEN
Facebook | LinkedIn | Twitter | YouTube | GSCM | Instagram
Email: IntelligentInvesting@gmail.com
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May 16, 2022
#171: Rebuttal To Some Trupanion Hate $TRUP; Discussing the Toxicity Of Twitter $TWTR
NEW PODCAST
Hey All! I’ve started a second show completely devoted to the field of Ontology which is another huge passion of mine. Please check out The Eric Scheien Podcast which is an ontological podcast where I break down distinctions of human consciousness as an access to enhancing performance. Summary
I received this email last year about Trupanion and wanted to address some points made. The entire email is here:
Hi Eric, I come in peace as a Chester County native who still very much prefers Wawa over Sheetz, despite living in Pittsburgh. You seemed very open to hearing counterpoints, as per your podcast on TRUP, so I wanted to give you some things to chew on. You made two points (I'll summarize): 1) It is justifiable to exclude development expenses from IRR and 2) there are "no accounting shenanigans" going on. I would love, then, to hear your thoughts on the following: Let's first level set with the IRR methodology: the company allocates fixed expenses between Subscription and Other based on their relative revenue contributions. This includes a pro-rata allocation of G&A expenses. So let's get into G&A expenses -- what's in there? Typical back office stuff, finance, accounting, etc. But also a couple million bucks of rental income related to subleasing of the company HQ. Per their 2019 10-K: "The change was primarily due to a $3.1 million increase in compensation expenses, a $0.8 million increase in professional service fees, and a $1.5 million increase in depreciation expense mainly due to owning our home office building since August 2018, partially offset by a total of $2.6 million in savings from additional lease income and less rental expense." The rental income has the effect of reducing reported G&A (i.e. it's netted against expenses). So my first question for you is as follows: if you firmly believe development expenses that aren't related to acquiring new pets are justifiably excluded from IRR calculations, how are you comfortable with several million dollars of sublease income that's clearly not related to acquiring subscription pets benefitting IRR? Next up is their pet-food VIE. Also from the 10-K: The Company has also entered into a series of agreements to provide ancillary services to the variable interest entity at cost. The Company provided $1.2 million and $1.4 million of these services for the years ended December 31, 2020 and 2019, respectively, which were recorded against its operating expenses. So TRUP provides back office support to the VIE and reduces its reported opex to account for the compensation for providing the services. So the next question is the same as the first: Would you bucket this in line with "development expenses" as being rightly excluded from IRR, or are you OK with the company getting the tailwind from the expense reduction? Now here's where the situation becomes a bit more nefarious. The VIE has received a total of $9.5 million of funding from TRUP, including $7.0MM of preferred capital and $2.5MM from a line of credit. Think for a minute about what's going on here: the company pushed $9.5MM of cash down to another legal entity, and now reduces its reported OpEx for services provided to the VIE, with the payments being made with money TRUP used to finance the VIE. Money coming out of one pocket and right into the other. Third question: Do you think this is an accounting shenanigan? Lastly, management knows PAC is getting out of hand and pulled a fast one in the first quarter to make it look like they've got things under control. Aren't you the slightest bit curious how they're going to hold PAC at $280 for the balance of this year in an increasingly competitive environment? Management casually slipped in the following comment during the earnings call: "We expect stock-based compensation to be around $6-$7 million per quarter for the remainder of the year." Coupled with the $8.4 million of SBC already booked in 1Q'21, TRUP is on track to recognize $28 million of SBC expense in 2021. Putting this figure into perspective, it is 3x higher than last year's $8.9 million of total recognized SBC expense. Last year SBC expense was 1.8% of revenue; this year it will be 4.1%. What does SBC have to do with PAC and IRR? Well, for the purposes of calculating PAC (a key input into the IRR calculation), management excludes SBC because it's non-cash. By upping the portion paid in the form of equity, management is artificially reducing the level of PAC incorporated in their IRR calculation. in 1Q'21, fully-loaded PAC (including SBC) was $328/pet, representing 22.4% y/y growth. SBC embedded in Sales and Marketing was $40/pet -- leaps and bounds above historical levels ($20/pet). See the charts at the bottom of the email. Had SBC been more in-line with historical levels ($20/pet), PAC (for the purposes of the company's IRR calculation) would have been ~$310...much closer to the full year figure I was expecting. This is all a long winded way of saying, if you were to run the company's IRR calc with PAC of $315 or above, there is absolutely no way they would be within the boundaries of their self-imposed 30-40% target range. The only reason they'll print numbers within range this year is a result of their increased use of SBC in compensating their employees. The table below illustrates Restricted Stock grants (not expense, but grants) since 1Q'19. The grants in the most recent quarter -- $66 million! -- jump off of the page and explain why SBC will be elevated in the quarters to come. But don't just take my word for it. From what I can tell, we both respect Buffett a lot, and here's what he's got to say on the topic: "I have no objection to the granting of options. Companies should use whatever form of compensation best motivates employees -- whether this be cash bonuses, trips to Hawaii, restricted stock grants or stock options. But aside from options, every other item of value given to employees is recorded as an expense." When it comes to SBC, RSUs are a functional cash equivalent, so there is no legitimate justification to exclude the related expense from any measure of profitability -- GAAP or otherwise. Perhaps using RSUs makes sense for the time being given the extreme overvaluation of TRUP. Management can handsomely compensate employees and gloss over the dilutive impact on the company's financials. But what happens when shares are back at $30, but territory partners are expecting their compensation to remain flat in nominal terms? Shareholders will either be 1) massively diluted or 2) the company would have to lean more heavily on cash compensation. The latter of the two options is a functional non-starter at the current juncture given the company's persistently negative free cash flow (another topic the bulls don't understand, but I'll let sleeping dogs lie on this one). Last question: Do you believe SBC is a true expense? If it is, should the company be including it in its IRR calculation? Management updated guidance, and frankly, I think the financial outlook is worse than I was expecting. "Adjusted Operating Income" -- which is ex. SBC, D&A, and Pet Acquisition -- is forecast at $75MM. PAC -- ex. SBC -- is forecast at $66MM. That leaves us to $9MM. "Development expense" will be $4MM (at the mid), SBC is $28MM, D&A will be $12MM, resulting in a pre-tax net loss of $35MM. This is larger than the company's cumulative net loss for the past six years combined! I know this is a battleground stock and don't expect everyone to come around. But I also think: 1) there's only one set of correct answers to the questions I've laid out above, 2) none of the afforementioned points are "dumb", and 3) management is using sleight of hand to paint a picture of the company that is out of step with reality. As someone who puts a lot of value in associating with the right people, I certainly don't appreciate the games / shenanigans that Daryl and team are pulling. $MM Adjusted Operating Income 75 - PAC (66) - Development expe…
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Jan 12, 2022
#170: Westell; A Ben Graham Net-Net; Evan Bleker
NEW PODCAST
Hey All! I’ve started a second show completely devoted to the field of Ontology which is another huge passion of mine. Please check out The Eric Scheien Podcast which is an ontological podcast where I break down distinctions of human consciousness as an access to enhancing performance. NET NET HUNTER
This episode is sponsored by Net Net Hunter. If you’re interested in finding high-quality stocks trading at fractions of liquidation value – this research service is for you. I personally use this service at my firm to help me research tiny and obscure net-net stocks all around the world. Using Net Net Hunter comes out to way less money than hiring an analyst to do the exact same thing manually. It’s a service I love and I am proud to be able to offer this service to my listeners. If this is something you’re interested in, please click here. Summary
Evan Bleker is a professional investor who has built his track record by buying high quality net net stocks. When not researching stocks, he focuses his time on helping small investors learn the strategy so they can earn great returns.
Evan manages two investing websites: Net Net Hunter and Broken Leg Investing.
* Net Net Hunter
* Complete guide to net net stocks
* Broken Leg Investing
* Deep Value Guide
Evan discussed Warren Buffett’s net net investing practice during his partnership. Further resources available here:
You can follow Evan’s portfolio performance here:
You can sign up for his free newsletter on the Net Net Hunter home page.
Show Notes
* 1:06 - What is Westell (WSTL)?
* 2:24 - Estimating liquidation value
* 3:07 - A simplified approach to finding high quality net-net stocks
* 3:55 - The 5G rollout
* 5:10 - Potential catalyst
* 5:26 - Dark Companies; The new SEC rule
* 8:57 - Westell quarterly update HELP OUT THE PODCAST
If you like The Intelligent Investing Podcast, please consider leaving a rating and review on Apple Podcasts. It takes less than 30 seconds to do and makes a huge difference! You can also join the Facebook page!
You can subscribe to the podcast on the following platforms:
* Apple Podcasts
* Stitcher
* TuneIn
* Spotify
* Podbean
* iHeart Radio
* YouTube GET IN TOUCH WITH ERIC SCHLEIEN
Facebook | LinkedIn | Twitter | YouTube | GSCM | Instagram
Email: IntelligentInvesting@gmail.com
Disclosure: Eric Schleien and some SMA clients of Eric Schleien through GSCM own shares of WSTL. Nothing here is investment advice. Do your own due diligence.
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Dec 14, 2021
#169: Update On Solitron (SODI) - Trey Henninger
NEW PODCAST
Hey All! I’ve started a second show completely devoted to the field of Ontology which is another huge passion of mine. Please check out The Eric Scheien Podcast which is an ontological podcast where I break down distinctions of human consciousness as an access to enhancing performance. NET NET HUNTER
This episode is sponsored by Net Net Hunter. If you’re interested in finding high-quality stocks trading at fractions of liquidation value – this research service is for you. I personally use this service at my firm to help me research tiny and obscure net-net stocks all around the world. Using Net Net Hunter comes out to way less money than hiring an analyst to do the exact same thing manually. It’s a service I love and I am proud to be able to offer this service to my listeners. If this is something you’re interested in, please click here. Summary
Today’s interview guest is Trey Henninger where discuss a recent update on Solitron Devices (SODI)
Trey Henninger runs the blog and podcast, DIY Investing. Trey is a private value investor focused on microcap and dark stocks in the United States. His focus is on high-quality companies with predictable durable earnings where management has skin-in-the-game. Trey runs a concentrated portfolio. By focusing on small companies, Trey hopes to find overlooked compounders at value prices. His favorite opportunities have a market cap below $50 million.
RESOURCES
* My Book on Amazon
* Alex Bossert's VIC writeup on Solitron
* Trey Henninger's Stock Thesis on Solitron Connect With Trey Henninger
* Twitter
* Blog
* Spotify
* Apple Podcasts
* YouTube HELP OUT THE PODCAST
If you like The Intelligent Investing Podcast, please consider leaving a rating and review on Apple Podcasts. It takes less than 30 seconds to do and makes a huge difference! You can also join the Facebook page!
You can subscribe to the podcast on the following platforms:
* Apple Podcasts
* Stitcher
* TuneIn
* Spotify
* Podbean
* iHeart Radio
* YouTube GET IN TOUCH WITH ERIC SCHLEIEN
Facebook | LinkedIn | Twitter | YouTube | GSCM | Instagram
Email: IntelligentInvesting@gmail.com
Disclosure: Eric Schleien and some SMA clients of Eric Schleien through GSCM own shares of SODI. Nothing here is investment advice. Do your own due diligence.
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Dec 7, 2021
#168: Discussing Uber‘s Business Model - Vitaliy Katsenelson
Summary
In this episode, I sit down with Vitaliy Katsenelson of IMA to discuss Uber's business model. We ended up chatting for about an hour and went pretty deep into the weeds around ride-sharing, Uber, and also what the future holds for the industry both in the United States and globally. Show Links
* Investor.fm
* Contrarian Edge
* The Six Commandments
* Was Our Money Manager Kidnapped? More About Vitaliy Katsenelson
Vitaliy N. Katsenelson, CFA, is CEO at Investment Management Associates in Denver, Colo. He is the author of Active Value Investing (Wiley, 2007) and the The Little Book of Sideways Markets (Wiley, December 2010). He runs the blog ContrarianEdge.com. He writes monthly for Institutional Investor. More About Eric Schleien
To learn more about me, Eric Schleien, check out my personal website and business website. You can also reach out to me on Twitter, Instagram, and LinkedIn.
If you'd like to read my book, you can find it on Amazon. Reviews are appreciated. New Podcast
Hey All! I’ve started a second show completely devoted to the field of Ontology which is another huge passion of mine. Please check out The Eric Schleien Podcast which is an ontological podcast where I break down distinctions of human consciousness as an access to enhancing performance. To learn more about Eric's work, check out his ontological coaching firm, Transformational Leadership Associates. Help Out The Podcast
If you like The Intelligent Investing Podcast, please consider leaving a rating and review on Apple Podcasts. It takes less than 30 seconds to do and makes a huge difference! You can also join the Facebook page!
You can subscribe to the podcast on the following platforms:
* Apple Podcasts
* Stitcher
* TuneIn
* Spotify
* Podbean
* iHeart Radio
* YouTube Contact Eric Schleien
Facebook | LinkedIn | Twitter | YouTube | GSCM | Instagram
Email: IntelligentInvesting@gmail.com
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Oct 14, 2021
#167: Quick Idea; Update On LAACO ($LAACZ); Possible Catalyst | Eric Schleien
It's Eric Schleien with episode #167 of The Intelligent Investing Podcast. Today I discuss one of my current positions LAACO with a quick update. Summary
I originally invested in LAACO when the stock was trading at roughly $2000/unit. The thesis was that you could buy the entire company at a significant discount to the private market value of the assets. You can read my original thesis, here. Recently, there has been news reports that the company may be in the process of selling their self-storage business which would be huge for shareholders. You can see a link to an article, here. More About Eric Schleien
To learn more about me, Eric Schleien, check out my personal website and business website. You can also reach out to me on Twitter, Instagram, and LinkedIn.
If you'd like to read my book, you can find it on Amazon. Reviews are appreciated. New Podcast
Hey All! I’ve started a second show completely devoted to the field of Ontology which is another huge passion of mine. Please check out The Eric Schleien Podcast which is an ontological podcast where I break down distinctions of human consciousness as an access to enhancing performance. To learn more about Eric's work, check out his ontological coaching firm, Transformational Leadership Associates. Help Out The Podcast
If you like The Intelligent Investing Podcast, please consider leaving a rating and review on Apple Podcasts. It takes less than 30 seconds to do and makes a huge difference! You can also join the Facebook page!
You can subscribe to the podcast on the following platforms:
* Apple Podcasts
* Stitcher
* TuneIn
* Spotify
* Podbean
* iHeart Radio
* YouTube Contact Eric Schleien
Facebook | LinkedIn | Twitter | YouTube | GSCM | Instagram
Email: IntelligentInvesting@gmail.com
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Sep 29, 2021
#166: Eric Schleien Discussing BE Semiconductor Industries NV (BESIY) w/ Jason Rivera
It's Eric Schleien back atcha with Episode #166 of The Intelligent Investing Podcast. Today I bring on Jason Rivera to discuss BE Semiconductor Industries NV (BESIY). Summary
Jason found the company when they were a $640 million dollar market cap company. Since then, the stock is up ~10x. Not a bad return! When Jason found them, they were a pick and shovel play in the semiconductor industry. The company builds testing kits. They also build plastic casings for the actual semiconductor pieces. They're a necessary business for the semiconductor industry. Jason believes you can expect that trend rapidly grow because of the internet of things and 5G.
Jason found the stock by going one by one through the OTC markets database. There's around 20,000 companies listed there. More About Eric Schleien
To learn more about me, Eric Schleien, check out my personal website and business website. You can also reach out to me on Twitter, Instagram, and LinkedIn.
If you'd like to read my book, you can find it on Amazon. Reviews are appreciated! Get In Touch With Jason Rivera
To learn more about Jason Rivera, check out his website: Value Investing Journey
New Podcast
Hey All! I’ve started a second show completely devoted to the field of Ontology which is another huge passion of mine. Please check out The Eric Schleien Podcast which is an ontological podcast where I break down distinctions of human consciousness as an access to enhancing performance. To learn more about Eric's work, check out his ontological coaching firm, Transformational Leadership Associates.
Help Out The Podcast
If you like The Intelligent Investing Podcast, please consider leaving a rating and review on Apple Podcasts. It takes less than 30 seconds to do and makes a huge difference! You can also join the Facebook page!
You can subscribe to the podcast on the following platforms:
* Apple Podcasts
* Stitcher
* TuneIn
* Spotify
* Podbean
* iHeart Radio
* YouTube Contact Eric Schleien
Facebook | LinkedIn | Twitter | YouTube | GSCM | Instagram
Email: IntelligentInvesting@gmail.com
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Sep 27, 2021
#165: Eric Schleien Discussing The Ultimate Sin Stock w/ Jason Rivera; Altria (MO)
Join Eric Schleien as he discusses Altria Group Inc (NYSE: MO) with Jason Rivera from Value Investing Journey. Eric Schleien has been following Altria for many years and brought Jason on after he saw that he’s talked about it on his website. For those who don’t know, Altria is the maker of Marlboro cigarettes and is considered the ultimate sin stock. You can make the argument that the stock has often been cheap due to the fact it is a sin stock leading to high rates of returns over many decades. About Eric Schleien
To learn more about Eric Schleien, check out his personal website and business website. You can also reach out to him on Twitter, Instagram, and LinkedIn. Microcap Shareholder Activism
If you are an executive of a microcap public company or a large shareholder of a microcap company where the executives are not doing right by shareholders, I'd be happy to see if me and my team can help with our novel approach to shareholder activism. For more information, see our offering at Transformational Leadership Associates and would be happy to do a free consult.
If you'd like to read Eric Schleien’s book, you can find it on Amazon. What Are Sin Stocks?
Sin stocks are public companies involved in activities that are considered unethical by society, such as alcohol, tobacco, gambling, adult entertainment or weapons. ESG investors tend to exclude sin stocks, as the companies involved are thought to be making money from exploiting human weaknesses and vices. Why Do People Avoid Sin Stocks?
A common question people ask is why do people avoid sin stocks? In reality, a stock doesn’t know you own it. As long as you aren’t participating in a secondary offering, you buying stock in Altria in no way contributes to the tobacco industry. However, even though that is the reality, there are many reasons why people avoid sin stocks. For example, there is an entire investment industry around what is coined ESG. ESG stands for Environmental, Social, and Governance. Companies are given a score based on a variety of metrics. This has led to a whole new money making scheme in the name of “feeling good” about what you’re investing in despite the fact it makes no actual impact to the planet. However, this ESG fad has led to opportunities for prudent investors. Altria Stock Valuation
Jason discusses how he values Altria. Jason assumes the company is worth 11x EBIT which he considers high for most companies but appropriate for Altria. That would get you to a value of about $129.5 billion. Then, if you add cash of just under $2 billion and subtract the company’s $28.2 billion in debt, that gets you to a value of about $101
Most companies, I wouldn't value it. An 11 X EBIT, multiple them. I would, again, for the competitive advantage we already talked about, so that gets us to a value of about 129.5 billion. Plus cash they had about just under $2 billion cash minus all of their debt at $28.2 billion. That gets us to a value of about $101.3 billion. This contrasts to a current market cap of about $93 billion. What’s The IRR For Altria Stock?
Jason assumes that the future returns for Altria will essentially be their dividend of just over 7%. In addition, Jason believes the company will be a good hedge for inflation. This IRR is much higher than a US Treasury Bond and he believes it is a good fit for a long-term portfolio with someone who is extremely risk averse. About Jason Rivera
To learn more about Jason Rivera, check out his website: Value Investing Journey
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Sep 24, 2021
#164: An Undervalued Government Contractor Microcap Stock; WidePoint Corporation (WYY); Eric Schleien & Jason Rivera
Hi, it's Eric Schleien, and welcome back to another episode of The Intelligent Investing Podcast! In this episode, I had the pleasure of sitting down with the wonderful Jason Rivera who runs Value Investing Journey. I've always liked government contractors due to the sticky nature of their business, high margins, and lots of recurring revenue. I also love them when they are tiny and undiscovered and filling some interesting niche or segment of their market. A company that seems to possibly fit that bill is WidePoint Corporation (WYY). What Is WidePoint Corporation?
WidePoint Corporation (WYY) is the leading provider of Trusted Mobility Management (TM2) solutions. TM2 converges at the intersection of WidePoint’s pioneering Telecom Lifecycle Management (TLM), Telecom Bill Presentment & Analytics, Mobile and Identity (IdM) Management solutions.
Market demand for secure mobile management such as WidePoint TM2 solutions is increasing due to security risks and vulnerabilities that could result from allowing mobile devices and cloud-based applications access to an organization’s technology infrastructure. In today’s connected world with high-profile data breaches, it is important for an enterprise to have a TM2 solution in place to protect valuable mobile assets and infrastructure while complying with changes in privacy and data protection laws and regulations. WidePoint TM2 solutions provide security, manageability, and visibility of an enterprise’s mobile assets and services through a single platform supported by our secure TM2 framework.
WidePoint is the leading provider of customized telecom and mobile management solutions to the U.S. public sector. WidePoint has a diverse portfolio of government and commercial clients, serving global and international enterprises and the Fortune 100 across a multitude of industries. More About Eric Schleien
To learn more about me, Eric Schleien, check out my personal website and business website. You can also reach out to me on Twitter, Instagram, and LinkedIn.
If you'd like to read my book, you can find it on Amazon. Reviews are appreciated! Get In Touch With Jason Rivera
To learn more about Jason Rivera, check out his website: Value Investing Journey
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Sep 21, 2021
#163: Eric Schleien Hosts Finance Podcast Week
Eric Schleien hosts the September Roundtable for Finance Podcast Week. Join Eric Schleien, host of the Intelligent Investing Podcast, with Andrew Sather and Jason Rivera for a jam packed hour long finance roundtable. Eric Schleien Discusses Real Estate Stocks
In this episode, Eric Schleien sits down with Andrew Sather and Jason Rivera to discuss two real estate stocks.
* Laaco Ltd (LAACZ), which owns the Los Angeles Athletic Club and has a Self-Storage Business.
* Cedar Realty Trust (CDR), which owns grocery anchored retail outlets across the United States.
Eric Schleien believes that both of these are cheap real estate stocks that would be some of the best picks for 2021. Both of these stocks are special situations as it is likely that both of these will be selling core assets for a higher price than the current market value. In Cedar’s case, they may sell the entire company. With Laaco, they may sell their self-storage business at what would almost certainly be a higher pri…
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Aug 3, 2021
#162: Discussing McCoy Global $MCB
Principles Of Power
My book Principles Of Power: The Art & Wisdom of Badassery is now available on Amazon. I would be extremely grateful if you could pick up a copy and write an honest review. Would mean the world! New Podcast
Hey All! I’ve started a second show completely devoted to the field of Ontology which is another huge passion of mine. Please check out The Eric Scheien Podcast which is an ontological podcast where I break down distinctions of human consciousness as an access to enhancing performance. To learn more about Eric's work, check out his ontological coaching firm, Transformational Leadership Associates. Summary
In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with Evan Bleker of Net-Net Hunter to discuss a tiny little company, McCoy Global Inc. (MCB.TO) with a current market cap of $21 million. Show Notes
[00:48] Tiny little company traded on Canadian Venture Exchange
[2:14] A study on net-nets that buying at a huge discount to net c…
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Jul 29, 2021
#161: Discussing ADDvantage Technologies Group, Inc. (AEY)
I had a blast chatting with Evan Bleker who runs Net-Net Hunter. We discussed an interesting little company that many of you may be familiar with called ADDvantage Technologies Group, Inc. (AEY). Show Notes
[00:35] Overview of ADDvantage
[1:23] The 5G Rollout
[2:05] How 5G Cell Towers Work
[4:13] The Impact of COVID on ADDvantage
[5:15] What it will take for the company to breakeven
[6:18] The Delta COVID strain & Telecom Companies
[7:52] The company may go bankrupt
[9:53] Large upside in stock if they don't go to 0
[11:41] Brief discussion on American Tower (AMT)
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Jul 6, 2021
#160: Discussing Dorian LPG trading below NAV - Braxton Gann
New Podcast
Hey All! I’ve started a second show completely devoted to the field of Ontology which is another huge passion of mine. Please check out The Eric Scheien Podcast which is an ontological podcast where I break down distinctions of human consciousness as an access to enhancing performance. To learn more about Eric's work, check out his ontological coaching firm, Transformational Leadership Associates. Summary
In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with Braxton Gann to discuss another shipping company, Dorian LPG (LPG). Braxton believes the business is cheap due to the business trading at a steep discount to its Net Asset Value. Show Notes
[2:10] Shipping has been in a bull market
[2:37] Track record of management
[4:45] Eric Schleien pushing back on Braxton on concerns about shipping stocks
[8:08] How to make money with shipping stocks
[10:26] Recap on Scorpio Tankers Help Out The Podcast
If you like The Intelligent Investing Pod…
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Jul 1, 2021
#159: Stealth Gas Trading Below NAV - Braxton Gann
New Podcast
Hey All! I’ve started a second show completely devoted to the field of Ontology which is another huge passion of mine. Please check out The Eric Scheien Podcast which is an ontological podcast where I break down distinctions of human consciousness as an access to enhancing performance. To learn more about Eric's work, check out his ontological coaching firm, Transformational Leadership Associates. Summary
In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with Braxton Gann to discuss Stealth Gas (GASS). Braxton believes the business is cheap due to the business trading at a steep discount to its Net Asset Value. Show Notes
[1:19] About the company [2:19] "Shipping has been one of the worst industries over the past decade..."
[3:13] Value of the second hand market for ships
[3:54] Resource Recommendation: Value Investors Edge
[5:02] Investment Risks
[6:58] Salaries in the shipping industry Help Out The Podcast
If you like The Intelligent…
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Jun 22, 2021
#158: Discussing General Mills $GIS, Intel $INTC JM Smucker $SJM, Apple $AAPL - Jason Rivera
New Podcast
Hey All! I’ve started a second show completely devoted to the field of Ontology which is another huge passion of mine. Please check out The Eric Scheien Podcast which is an ontological podcast where I break down distinctions of human consciousness as an access to enhancing performance. Podbean
This podcast is sponsored by Podbean. Podbean is probably the easiest way to create your own podcast. We use Podbean to host the Intelligent Investing Podcast and my new podcast, The Eric Schleien Podcast. Download the free Podbean Podcast App, to start, record, and publish your very own podcast in minutes. Podbean provides everything you need to run your podcast and you can record and publish episodes directly from the app on your phone. Check it out! TIKR.COM
This episode is brought to you by TIKR.com. This is a product I personally use for researching stocks at my firm. TIKR.com is focused on bringing institutional-quality investment research tools to individual investors. TIK…
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Jun 17, 2021
#157: Martin Marietta $MLM - Andrew Sather
New Podcast
Hey All! I’ve started a second show completely devoted to the field of Ontology which is another huge passion of mine. Please check out The Eric Scheien Podcast which is an ontological podcast where I break down distinctions of human consciousness as an access to enhancing performance. Podbean
This podcast is sponsored by Podbean. Podbean is probably the easiest way to create your own podcast. We use Podbean to host the Intelligent Investing Podcast and my new podcast, The Eric Schleien Podcast. Download the free Podbean Podcast App, to start, record, and publish your very own podcast in minutes. Podbean provides everything you need to run your podcast and you can record and publish episodes directly from the app on your phone. Check it out! TIKR.COM
This episode is brought to you by TIKR.com. This is a product I personally use for researching stocks at my firm. TIKR.com is focused on bringing institutional-quality investment research tools to individual investors. TIK…
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Jun 15, 2021
#156: Analyzing Target Corporation $TGT - Andrew Sather
New Podcast
Hey All! I’ve started a second show completely devoted to the field of Ontology which is another huge passion of mine. Please check out The Eric Scheien Podcast which is an ontological podcast where I break down distinctions of human consciousness as an access to enhancing performance. Podbean
This podcast is sponsored by Podbean. Podbean is probably the easiest way to create your own podcast. We use Podbean to host the Intelligent Investing Podcast and my new podcast, The Eric Schleien Podcast. Download the free Podbean Podcast App, to start, record, and publish your very own podcast in minutes. Podbean provides everything you need to run your podcast and you can record and publish episodes directly from the app on your phone. Check it out! TIKR.COM
This episode is brought to you by TIKR.com. This is a product I personally use for researching stocks at my firm. TIKR.com is focused on bringing institutional-quality investment research tools to individual investors. TIK…
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Jun 11, 2021
#155: $WFC / $BAC / $JPM; Analyzing Bank Stocks & The Banking Industry - Andrew Sather
New Podcast
Hey All! I’ve started a second show completely devoted to the field of Ontology which is another huge passion of mine. Please check out The Eric Scheien Podcast which is an ontological podcast where I break down distinctions of human consciousness as an access to enhancing performance. Podbean
This podcast is sponsored by Podbean. Podbean is probably the easiest way to create your own podcast. We use Podbean to host the Intelligent Investing Podcast and my new podcast, The Eric Schleien Podcast. Download the free Podbean Podcast App, to start, record, and publish your very own podcast in minutes. Podbean provides everything you need to run your podcast and you can record and publish episodes directly from the app on your phone. Check it out! TIKR.COM
This episode is brought to you by TIKR.com. This is a product I personally use for researching stocks at my firm. TIKR.com is focused on bringing institutional-quality investment research tools to individual investors. TIK…
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Jun 8, 2021
#154: Pershing Square Tontine $PSTH - Andrew Walker
New Podcast
Hey All! I’ve started a second show completely devoted to the field of Ontology which is another huge passion of mine. Please check out The Eric Scheien Podcast which is an ontological podcast where I break down distinctions of human consciousness as an access to enhancing performance. Podbean
This podcast is sponsored by Podbean. Podbean is probably the easiest way to create your own podcast. We use Podbean to host the Intelligent Investing Podcast and my new podcast, The Eric Schleien Podcast. Download the free Podbean Podcast App, to start, record, and publish your very own podcast in minutes. Podbean provides everything you need to run your podcast and you can record and publish episodes directly from the app on your phone. Check it out! TIKR.COM
This episode is brought to you by TIKR.com. This is a product I personally use for researching stocks at my firm. TIKR.com is focused on bringing institutional-quality investment research tools to individual investors. TIK…
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Jun 2, 2021
#153: Multi-bagger Potential in Solitron Devices $SODI; a recap of Entercom $ETM/$AUD and Northfield Precision $NFPC - Trey Henninger
NEW PODCAST
Hey All! I’ve started a second show completely devoted to the field of Ontology which is another huge passion of mine. Please check out The Eric Scheien Podcast which is an ontological podcast where I break down distinctions of human consciousness as an access to enhancing performance. Podbean
This podcast is sponsored by Podbean. Podbean is probably the easiest way to create your own podcast. We use Podbean to host the Intelligent Investing Podcast and my new podcast, The Eric Schleien Podcast. Download the free Podbean Podcast App, to start, record, and publish your very own podcast in minutes. Podbean provides everything you need to run your podcast and you can record and publish episodes directly from the app on your phone. Check it out! TIKR.COM
This episode is brought to you by TIKR.com. This is a product I personally use for researching stocks at my firm. TIKR.com is focused on bringing institutional-quality investment research tools to individual investors. TIK…
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May 27, 2021
#152: The Discovery Communications $DISCA $DISCK / WarnerMedia $T Merger
New Podcast
Hey All! I've started a second show completely devoted to the field of Ontology which is another huge passion of mine. Please check out The Eric Scheien Podcast which is an ontological podcast where I break down distinctions of human consciousness as an access to enhancing performance. TIKR.com
This episode is brought to you by TIKR.com. This is a product I personally use for researching stocks at my firm. TIKR.com is focused on bringing institutional-quality investment research tools to individual investors. TIKR.com is powered by S&P Global CapitalIQ and has coverage of 50k+ stocks globally with financials, estimates, valuation metrics, ownership, transcripts, news, filings, and more. Join TIKR.com's free beta today with tikr.com/intelligent Net Net Hunter
This episode is sponsored by Net Net Hunter. If you're interested in finding high-quality stocks trading at fractions of liquidation value - this research service is for you. I personally use this service at my firm…
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May 26, 2021
#151: Some Quick Thoughts On My Largest Position, Liberated Syndication (LSYN)
This episode is also brought to you by TIKR.com. This is a product I personally use for researching stocks at my firm. TIKR.com is focused on bringing institutional-quality investment research tools to individual investors. TIKR.com is powered by S&P Global CapitalIQ and has coverage of 50k+ stocks globally with financials, estimates, valuation metrics, ownership, transcripts, news, filings, and more. Join TIKR.com's free beta today with tikr.com/intelligent
This episode sponsored by Net Net Hunter. If you're interested in finding high-quality stocks trading at fractions of liquidation value - this research service is for you. I personally use this service at my firm to help me research tiny and obscure net-net stocks all around the world. Using Net Net Hunter comes out to way less money than hiring an analyst to do the exact same thing manually. It's a service I love and I am proud to be able to offer this service to my listeners. If this is something you're interested in, please cli…
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May 24, 2021
#150: How To Invest In Outer Space...seriously! - Robert Jacobson
This episode is also brought to you by TIKR.com. This is a product I personally use for researching stocks at my firm. TIKR.com is focused on bringing institutional-quality investment research tools to individual investors. TIKR.com is powered by S&P Global CapitalIQ and has coverage of 50k+ stocks globally with financials, estimates, valuation metrics, ownership, transcripts, news, filings, and more. Join TIKR.com's free beta today with tikr.com/intelligent
This episode sponsored by Net Net Hunter. If you're interested in finding high-quality stocks trading at fractions of liquidation value - this research service is for you. I personally use this service at my firm to help me research tiny and obscure net-net stocks all around the world. Using Net Net Hunter comes out to way less money than hiring an analyst to do the exact same thing manually. It's a service I love and I am proud to be able to offer this service to my listeners. If this is something you're interested in, please cli…
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May 21, 2021
#149: Discussing some incredibly OBSCURE net-net stocks - Evan Bleker
This episode sponsored by Net Net Hunter. If you're interested in finding high-quality stocks trading at fractions of liquidation value - this research service is for you. I personally use this service at my firm to help me research tiny and obscure net-net stocks all around the world. Using Net Net Hunter comes out to way less money than hiring an analyst to do the exact same thing manually. It's a service I love and I am proud to be able to offer this service to my listeners. If this is something you're interested in, please click here.
This episode is also brought to you by TIKR.com. This is a product I personally use for researching stocks at my firm. TIKR.com is focused on bringing institutional-quality investment research tools to individual investors. TIKR.com is powered by S&P Global CapitalIQ and has coverage of 50k+ stocks globally with financials, estimates, valuation metrics, ownership, transcripts, news, filings, and more. Join TIKR.com's free beta today with tikr.com/int…
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May 11, 2021
#148: Discussing Trupanion (TRUP)...again! - Reaction To Steel City Capital Letter
This episode is brought to you by TIKR.com. This is a product I personally use for researching stocks at my firm. TIKR.com is focused on bringing institutional-quality investment research tools to individual investors. TIKR.com is powered by S&P Global CapitalIQ and has coverage of 50k+ stocks globally with financials, estimates, valuation metrics, ownership, transcripts, news, filings, and more. Join TIKR.com's free beta today with tikr.com/intelligent
This episode is also sponsored by Net Net Hunter. If you're interested in finding high-quality stocks trading at fractions of liquidation value - this research service is for you. I personally use this service at my firm to help me research tiny and obscure net-net stocks all around the world. Using Net Net Hunter comes out to way less money than hiring an analyst to do the exact same thing manually. It's a service I love and I am proud to be able to offer this service to my listeners. If this is something you're interested in, please…
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May 6, 2021
#147: Shaking Things Up At Firsthand Technology Value Fund; Should They Liquidate? - Don Chambers
This episode is brought to you by TIKR.com. This is a product I personally use for researching stocks at my firm. TIKR.com is focused on bringing institutional-quality investment research tools to individual investors. TIKR.com is powered by S&P Global CapitalIQ and has coverage of 50k+ stocks globally with financials, estimates, valuation metrics, ownership, transcripts, news, filings, and more. Join TIKR.com's free beta today with tikr.com/intelligent
This episode is also sponsored by Net Net Hunter. If you're interested in finding high-quality stocks trading at fractions of liquidation value - this research service is for you. I personally use this service at my firm to help me research tiny and obscure net net stocks all around the world. Using Net Net Hunter comes out to way less money than hiring an analyst to do the exact same thing manually. It's a service I love and I am proud to be able to offer this service to my listeners. If this is something you're interested in, please…
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May 4, 2021
#146: How To Become An Expat; Lowering Your Taxes; Increasing Your Standard Of Living - Mikkel Thorup
This episode is sponsored by Net Net Hunter. If you're interested in finding high-quality stocks trading at fractions of liquidation value - this research service is for you. I personally use this service at my firm to help me research tiny and obscure net net stocks all around the world. Using Net Net Hunter comes out to way less money than hiring an analyst to do the exact same thing manually. It's a service I love and I am proud to be able to offer this service to my listeners. If this is something you're interested in, please click here.
Summary
Join Eric Schleien with today's interview guest, Mikkel Thorup, as they talk real about the many possibilities of living life as an expat in foreign countries. Due to dyslexia and being made to study in special classes, Mikkel was poorly treated by many peers during his younger years – an experience with discrimination he did not feel when he got to live life outside the country.
Mikkel shares in this episode the key points he gets clea…
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Apr 27, 2021
#145: My Favorite Stock Idea for 2021, Why I Don't Short Stocks, and More: Q&A w/ Eric Schleien
Join Eric Schleien in this Q&A format as he answers questions on short positions, investment strategies, destroying your own conclusions on business and investments, and so much more. When asked about the mistakes he's made with investments and what can be learned from them, Eric expounds on what he thinks is a rear-view mirror thinking and on how he managed to lose more money to areas of omission than commission.
Summary
While it's common for others to work on becoming large firms, Eric's unique gameplay is to stay boutique and manageable. For Eric, it's not necessarily rejecting growth. Instead, it's more about being able to hold control and balance on different elements. When you're running multiple large funds, it will reach a point where you start losing the competitive advantage by becoming too large, he explains.
In this episode, the group also brings up the relevance of Environmental and Social Trends in determining the long-term value of companies. Quoting from Brookfi…
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Apr 19, 2021
#144:Value Investing In The Cannabis Industry, Trulieve, and Green Thumb Industries - Julian Lin
Join Eric Schleien with today's interview guest, Julian Lin, as they discuss the different names in the country's cannabis industry and the stocks he entered and exited in light of the pandemic. For some of these companies, leaving the pandemic with so much debt and having to spend so much for redevelopment isn't going to be an excellent spot to have.
Summary
In this episode, Julian also talks about the presence of Canadian cannabis brands in American markets. Despite them being 'okay,' because they're the only names people can invest in when in America, the evaluations of these brands coming from across the border remain to sore insanely. Nonetheless, cannabis brands have challenges unique to them in general.
Julian acknowledges that when you look at these companies, they scream expensive. In reality, if cannabis is decriminalized and is not to pay a particular type of tax in the future anymore, their shares will trade at multiple folds in earnings. For Julian, the macro picture for…
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Apr 15, 2021
#143: Game Stop, Robinhood and the Merrymen of Reddit - What actually happened?
The GameStop short took many by surprise and brought the world of short selling into the mainstream. Join us for this in-depth panel moderated by Eric Schleien of the Intelligent Investing Podcast with Jake McClure of The Personal Wealth Coach Podcast and Rick Bloom from Rick Bloom Talks Money on the nuances of what actually happened, and how all the pieces fit together. Eric Schleien's Book
Thank you for supporting the podcast. My new book, Principles of Power, is now on Amazon. I would be incredibly grateful and humbled for a purchase with an honest review. About Principles of Power
"Principles of Power can be related to as an advanced Coaching Handbook for Leaders. If you are a leader, an aspiring leader, a coach, consultant, or program facilitator, this book is designed for you. The material is delivered inside of a modern leadership context of service and contribution. Eric features many partnerships in Principles of Power. His inclusion of useful quotes from Warren Buffett, Cha…
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Apr 12, 2021
#142: Andrew Sather on Warren Buffett's Cash Cows, Hedging the US Dollar, Residential Real Estate, Griffon (GFF), and Electronic Arts (EA)
Join Eric Schleien with his guest Andrew Sather as they talk about Warren Buffett's Cash Cows, Hedging the US Dollar, Residential Real Estate, Griffon, and Electronic Arts.
In this episode, Andrew also sheds light on stock buybacks and turning over rocks in order to unearth value even from beat-up ventures and potential investments. He emphasizes the strategy of having enough key players in a business or investment that's enough to stabilize everything.
Stay tuned to this discussion and find out what else Andrew has to say about the current financial industry.
About Andrew Sather
Andrew is a self-taught investor since 2012. He specializes in identifying value traps and avoiding stock market bankruptcies.
"I didn't see a resource to walk beginners through investing, step by step. So I went out and made it.", Andrew said.
* Website
* Linkedin
* Twitter
* YouTube
* Apple Podcast
Show Notes
* [03:31] Warren Buffett's Cash Cows
* [04:55] Companies need to do…
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Mar 25, 2021
#141: Trey Henninger on Entercom, Northfield Precision, and a New SEC Rule Impacting Dark Companies
Join Eric Schleien with today's interview guest, Trey Henninger, as they talk about Entercom, Northfield Precision, and the new SEC rule that impacts dark companies and small businesses. By taking a close look at the outcomes and probabilities close to ETC and the merger made with CBS Radio, he explains what Entercom holds for the next 12-18 months and tells us the technicalities on why he thinks owning shares from the company can still end up positively. Summary
In this episode, Trey will also be getting into all the old news, the expected, and the good with Northfield Precision Instrument Corp. Listen as he discusses the company's performance during the pandemic, their ROI report, and how NFPC will seemingly be affected by the new SEC rule that targets dark companies. For Trey, once the new regulation comes into effect in the following months or years, going expert or grey may become an option to be considered for Northfield.
Going in further on the upcoming SEC rule, tune in as Tr…
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Mar 15, 2021
#140: Peter McCormack on Bitcoin
Join Eric Schleien with his guest Peter McCormack as they talk about podcasting, the unique characteristics of Bitcoin, and what the future holds for it. Because of the oppositions and baseless accusations against it, for Peter, Bitcoin should've already failed. Today, it is still operating and growing even higher.
In this episode, Peter gets into discussing decentralization, Bitcoin mining, his piece of advice to anyone looking into investing in Bitcoin, and so much more. To interested investors, Peter believes there should be a profound investment strategy before throwing money onto Bitcoins. He believes cryptocurrency can be a very punishing investment if done wrong.
Stay tuned to this casual exchange and find out more of what Peter has to say about Bitcoins and investments.
About Peter McCormack:
Peter McCormack is a full-time journalist/podcaster covering topics such as Freedom, Human Rights, Censorship, and Bitcoin. He is the host of the What Bitcoin Did Podcast.
The What Bi…
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Feb 26, 2021
#139: Eric Schleien & Norma Belenky Discuss Finance Podcast Week
Join Eric Schleien with his guest Norma Belenky, the Head of Events of Podbean, as they talk about the evolution of media, Podbean’s exciting podcast features, and most especially the upcoming Finance Podcast Week.
In this episode, Norma shares her story on getting into podcasting and the facet that sets apart a podcast. She also gives us a brief of the stimulating discussions, guests, and perks we can expect from Podbean’s event that every entrepreneur, investor, and alike will gain from.
Stay tuned to their talk to catch a glimpse of Finance Podcast Week’s exciting lineup for everyone.
About Podbean:
Podbean is a podcast publishing and monetization service, providing free and premium hosting packages for individuals and businesses. Podbean offers a user-friendly interface that integrates publishing, management, syndication, and analysis tools into an easy-to-use podcasting package.
Facebook: https://www.facebook.com/NormaJeanBali/
Instagram: https://www.instagram.com/norm…
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Feb 15, 2021
#138: Thrift Shop Arbitrage
Join Eric Schleien with the founders of Alluring Oddities, as they share stories about their income-generating passion for thrift shopping and what it took to make this side-project grow and continue growing.
More than just a business, the founders treat their passion as a venture wherein they can cultivate experiences for their friends, loved ones, and Buffalo's whole community. Community over competition is a general outlook that they endorse.
Learn more from their experiences as you tune in further to what the founders have have to share.
About Alluring Oddities:
Alluring Oddities is a curated and cultivated gallery of mostly 60s or 70s offbeat thrifted treasures in Buffalo, NY.
Outline of the episode:
* [07:45] The fascination towards everything timeless in condition.
* [09:53] Make money out of it, not: get rid of it.
* [11:03] More than just a business, it's a lifestyle.
* [13:22] Alluring Oddities: a thrift store's gross margin.
* [14:37] Set your brand different…
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Feb 11, 2021
#137: Eric Schleien & Rafael Resendes discuss how to value and measure the intrinsic value of Tesla (TSLA) and GameStop (GME)
Join Eric Schleien & Rafael Resendes discuss how to value and measure the intrinsic value of Tesla (TSLA) and GameStop (GME). Rafael Resendes is the portfolio manager & co-founder of Applied Finance Capital Management. To watch this on YouTube (which for this one, I would recommend) - you can click, here. Resources
* For listeners interested in some of the research presented on the show today, you can sign up for the monthly newsletter, The Valuation Edge.
* For listeners interested in actually modeling companies they can join the waiting list for the Intrinsic Value Tool.
*
Value Investing 2nd Edition, on Amazon.
* Eric Schleien's Book: Principles Of Power: The Art & Wisdom of Badassery, on Amazon
About Eric Schleien
Over the past decade, Eric has trained thousands of individuals including board members of public companies as well as several Fortune 500 CEOs. Eric specializes in organizational culture and has become a leading authority on organizational culture in the in…
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Feb 5, 2021
#136: Eric Schleien & Julian Lin discussing selling GME put options and buying AMC put options/put spreads | Quick Thoughts
Welcome to the Intelligent Investing Quick Thoughts Series, where I just spend a few minutes on relevant topics, thoughts, or things in the news. Episodes are all under 10 minutes.
You can also watch the conversation on YouTube by clicking here.
Summary
In this episode, Eric Schleien discusses how to play GameStop (GME) from a value investing standpoint and what he is doing around selling Put Options.
Other episodes discussing GameStop (GME)
* Eric Schleien discussing GME Puts
* Eric Schleien discussing why he hates shorting stocks - GME About Eric Schleien
Over the past decade, Eric has trained thousands of individuals including board members of public companies as well as several Fortune 500 CEOs. Eric specializes in organizational culture and has become a leading authority on organizational culture in the investment industry.
Eric has been investing for 15 years and has been using breakthrough coaching methodologies for over a decade. Eric had the insight to combine p…
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Feb 4, 2021
#135: Eric Schleien discussing selling GameStop (GME) Put Options
Welcome to the Intelligent Investing Quick Thoughts Series, where I just spend a few minutes on relevant topics, thoughts, or things in the news. Episodes are all under 10 minutes. Summary
In this episode, Eric Schleien discusses how to play GameStop (GME) from a value investing standpoint and what he is doing around selling Put Options. About Eric Schleien
Over the past decade, Eric has trained thousands of individuals including board members of public companies as well as several Fortune 500 CEOs. Eric specializes in organizational culture and has become a leading authority on organizational culture in the investment industry.
Eric has been investing for 15 years and has been using breakthrough coaching methodologies for over a decade. Eric had the insight to combine proven coaching methodologies with shareholder activism techniques to create an entirely new model for shareholder activism that was more reliable and created greater sustainable results in a rapid period of time. On…
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Jan 26, 2021
#134: Eric Schleien Discussing Why He Hates Shorting Stocks, Thoughts on GameStop (GME)
I discuss why I hate shorting stocks and discuss the recent example of GameStop (GME).
About Eric Schleien
Over the past decade, Eric has trained thousands of individuals including board members of public companies as well as several Fortune 500 CEOs. Eric specializes in organizational culture and has become a leading authority on organizational culture in the investment industry.
Eric has been investing for 15 years and has been using breakthrough coaching methodologies for over a decade. Eric had the insight to combine proven coaching methodologies with shareholder activism techniques to create an entirely new model for shareholder activism that was more reliable and created greater sustainable results in a rapid period of time. On average, Tribal Leadership produces a 3-5x increase in profits of culturally troubled companies within an average of 24 months or less.
Eric currently resides in Philadelphia, PA. Help Out The Podcast
If you like The Intelligent Investing Podcast, p…
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Jan 25, 2021
#133: Quick Thoughts | Overbid Special Situations; Collector's Universe (CLCT); Alaska Communications (ALSK); Think Childcare (TNK)
Welcome to the Intelligent Investing Quick Thoughts Series, where I just spend a few minutes on relevant topics, thoughts, or things in the news. Episodes are all under 10 minutes.
In this episode, I discuss some success I've had with overbid opportunities where you buy a stock that is getting bought out at an absurdly cheap price with the hope for a higher bid and where your downside is low due to the low valuation already. With a low-interest-rate environment, I expect these opportunities to continue to run into 2021.
About Eric Schleien
Over the past decade, Eric has trained thousands of individuals including board members of public companies as well as several Fortune 500 CEOs. Eric specializes in organizational culture and has become a leading authority on organizational culture in the investment industry.
Eric has been investing for 15 years and has been using breakthrough coaching methodologies for over a decade. Eric had the insight to combine proven coaching methodologie…
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Jan 20, 2021
#132: Brian Balbirnie, Founder/CEO of Issuer Direct
Summary
In this episode, I sit down with Brian Balbirnie who is the Founder & CEO of one of my favorite microcap companies, Issuer Direct.
For those interested, a few years ago, I sat down with Travis Wiedower where we discussed the company.
This episode is also available on YouTube. About Eric Schleien
Over the past decade, Eric has trained thousands of individuals including board members of public companies as well as several Fortune 500 CEOs. Eric specializes in organizational culture and has become a leading authority on organizational culture in the investment industry.
Eric has been investing for 15 years and has been using breakthrough coaching methodologies for over a decade. Eric had the insight to combine proven coaching methodologies with shareholder activism techniques to create an entirely new model for shareholder activism that was more reliable and created greater sustainable results in a rapid period of time. On average, Tribal Leadership produces a 3-5x increase i…
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Jan 13, 2021
#131 - Jeremy Raper on his 2021 Investment Strategy, SNEX, BWMX, Peabody Bonds, and TikTok Investors
Summary
In this episode, I bring Jeremy Raper of Raper Capital back on the show to discuss his 2021 Investment Playbook. We also do a recap of some of the investments from 2020.
You can also watch this episode on YouTube.
Show Notes
0:37 - Corona Update
1:34 - The easy money has been made, so now what?
2:46 - Market crises
4:51 - Short-term pain
5:59 - 2021 Investing Playbook
10:47 - Stonex Group (SNEX)
12:14 - Junior Canadian Copper Miners
14:27 - SPAC Warrant Arbitrage
15:57 - Hyliion Holdings Corp (HYLN)
16:06 - Nikola (NKLA) Warrant Spread
18:01 - Robinhood Punters
18:46 - TikTok Investors
24:32 - The Oil & Gas Industry
28:46 - Peabody Energy (BTU) Bonds
29:57 - Canadian Smallcaps
30:19 - Looking outside the United States
31:10 - Betterware de Mexico SAB de CV (BWMX)
43:52 - Martin Werner
About Eric Schleien
Over the past decade, Eric has trained thousands of individuals including board members of public companies as well as several Fortune 500 CEOs. Eric…
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Jan 11, 2021
#130: Founder & CEO of Shift (SFT), George Arison on going public via SPAC, an Industry Outlook on the future of online car buying
Summary
In this episode of the Intelligent Investing Podcast, I sit down with the Founder & CEO of Shift (SFT) which went public recently via a SPAC.
Show Notes
1:29: Background On George Arison 3:50: Getting into the automotive space 4:39: The Auto Financing Market 10:16: Starting Shift 13:49: Company Growth 15:16: Disruption in Cars 16:20: The Traditional Dealer 16:26: Carvana vs Shift 18:49: Older cars are a huge part of the used car market 19:10: "How do you look at internal rate of returns?" 19:26: "it's a kind of a land grab situation" 20:31: "what the business looks like at scale" 27:02: "select dealers that we want to work with that have really high-quality inventory, high-quality service." 27:15: "a win for the dealership." 30:21: "how do you fund the growth right now?" 31:44: SPAC investing 33:16: "SPAC investors might actually get really burned if they're just buying a bunch of things that seem very sexy." 33:51: "There's been many, many, like over a hundred SPACs. I do…
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Dec 15, 2020
#129: Rafael Resendes - portfolio manager & co-founder of Applied Finance Capital Management
Summary
In this episode, I had the pleasure of sitting down with Rafael Resendes who is the portfolio manager & co-founder of Applied Finance Capital Management.
It was pretty exciting to have the co-founder of Applied Finance on the Intelligent Investing Podcast due to the fact they have become a thought leader in valuation and portfolio construction in the value investing community. You could say they are the real deal. Unlike the majority of firms today that focus on low multiples to define “value”, they define value as identifying companies trading below their intrinsic value. Their Valuation Driven™ approach forms the foundation of their investment decisions.
Applied Finance is 100% employee-owned, with the average tenure of our 10 partners being over 18 years. History of Innovation
Research has always been a critical part of Applied Finance’s culture. In 1995, they humbly began in a Chicago basement, with the idea to create a better approach to measuring corporate per…
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Dec 10, 2020
#128: Jason DeBono
Summary
Jason DeBono, corporate Vice President of NuView Trust Company. Jason shares the ins and outs of alternative investing and also offers current investors a deep dive into their world and share with them how they can use their current retirement plans and turn them into funds for alternative investments.
With over 15 years of experience in the self-directed IRA industry, and his role as Vice President of NuView Trust Company – Jason & his team are on a mission to empower people by providing them with valuable information on how to move away from ever-unpredictable wall street stocks and bonds and into more sustainable, “main street” investments. A self-directed custodian with over $1.4 billion of assets under custody, NuView specializes in enabling individual investors and financial professionals to diversify their investment portfolios, using alternative asset classes such as real estate, tax liens and deeds, notes, private equity, cryptocurrency, and precious metals in…
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Nov 30, 2020
#127: I wrote a book! | Principles of Power: The Art & Wisdom of Badassery
My New Book
After 7 years in the making, my book Principles of Power has been released!
***THIS WEEK ONLY*** CYBER MONDAY SALE.... 90% off the Kindle Book...just 0.99 cents :)
Summary
"Principles of Power can be related to as an advanced Coaching Handbook for Leaders. If you are a leader, an aspiring leader, a coach, consultant, or program facilitator, this book is designed for you. The material is delivered inside of a modern leadership context of service and contribution. Eric features many partnerships in Principles of Power. His inclusion of useful quotes from Warren Buffett, Charlie Munger, Werner Erhard, Nassim Taleb, Seth Godin, and many other leaders attests to the thinking and the research that went into the writing of this book. It is now undeniable that the understanding and implementation of powerful Listening, authentic Relationship, and a recognizable Permission to Lead, are cardinal distinctions of effective leadership. The word, ’cardinal’ has a Latin root and…
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Nov 30, 2020
#126: Viktor Nebehaj - cofounder, FreeTrade.io
Viktor is the co-founder of Freetrade, the main commission-free trading app, or neobroker, in the UK, soon launching in Europe. Viktor grew up in Eastern Europe and joined Google's early European team in 2005, where he spent seven years based in Dublin, Ireland. After a year-long gig in Hong Kong, where he headed up search engine optimization Asia-wide at an agency, he began his startup journey both as an operator and investor. When he moved to London, there were no commission-free neobrokers, so he joined forces with founder Adam Dodds to build Freetrade. As an investor, Viktor prefers investing in startups through equity crowdfunding and he's on a personal mission to convince more companies to crowdfund. He is a public equity investor focused on tech companies as well. Viktor holds an MBA from the Central European University and lives in London with his wife. Company Website Viktor's Twitter If you're in the UK, check this out, Freetrade is launching pensions (SIPPs) ABOUT ERIC SCHLE…
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Nov 17, 2020
#125: A New Model For Shareholder Activism
Show Links
* The Proxy Activism Project
* A New Model For Shareholder Activism (Blog)
* A New Model For Shareholder Activism (YouTube)
* A New Model For Shareholder Activism (Eric Schleien / John King)
* Netflix, Sears, and Tribal Leadership (Eric Schleien / John King)
* How To Keep Large Companies Innovative (Eric Schleien / Scott Forgey)
* Eric Schleien discussing Tribal Leadership
* Eric Schleien discussing Activist Investing
* CBRE Case Study - Tribal Leadership
* Comparing Transformational & Transactional Leadership (Eric Schleien)
* Cultural Issues In The Hospital Industry (Eric Schleien) Took 9 Years To Develop
ProxyActivism is a project that has taken 9 years to create over the course of thousands and thousands of hours to develop, and finally launch. This blog post will go into the background into how ProxyActivism came to be, our process, how I see this project unfolding, and how you as a value investor can be involved (and no, for all you cynical fuc…
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Nov 10, 2020
#124: Don Chambers - Update On SVVC Activism
Had the pleasure of bringing back on Don Chambers who is currently involved in an activist campaign against SVVC. To see the first episode where he discusses his ongoing battle with SVVC, you can click here. You watch this as a video on YouTube, click here. Show Links
* BDC Info
* Don's Proposal to SVVC (see page 16)
* Election Results Don's Proposal
PROPOSAL THREE (Non-Binding Stockholder Proposal) THAT THE BOARD SEEK AND PURSUE ANY AND ALL MEASURES TO ENHANCE SHAREHOLDER VALUE
A stockholder, Donald Chambers, submitted the following proposal for inclusion in the Company’s proxy materials. If the stockholder, or a representative of the stockholder who is qualified under state law, is present and properly submits the proposal for a vote, then the proposal will be voted on at the Annual Meeting. The Board of Directors unanimously recommends that you vote AGAINST the proposal. The proposal and the stockholder’s supporting statement, exactly as received from the stockholder,…
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Oct 27, 2020
#123: Ann Hambly - 1st Service Solutions
In this episode, Eric Schleien sits down with Ann Hambly, the Founder/CEO of 1st Service Solutions. I'm a huge fan of Ann, as she transformed the CMBS industry and has also been impacted by the Tribal Leadership technology which I've shared about many times here, here, and here. As one of the managers of Brookfield Asset Management shared with me, "Transforming Culture is the last bastion of alpha due to the low competitive nature of the endeavor."
To watch this episode on YouTube, see below or click here.
Ann has been involved in literally every aspect of the CMBS industry throughout her 35+ year career. She created from scratch and ran many large servicing shops before creating 1st Service Solutions in 2005. She has been an intentionally integral part in shaping the CMBS industry since its inception.
Ann founded 1st Service Solutions in 2005 to address what she saw to be a gaping hole in CMBS. Unlike ‘on book’ commercial real estate loans, there is no ‘banker’ for the borr…
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Oct 23, 2020
#122: Luis Sánchez - Net Net Investing
Summary
In this episode of The Intelligent Investing Podcast, I sit down with Luis Carlos Sánchez. Mr. Sánchez is has a background in commercial law and is an avid net-net investor.
If you are interested in Net Net Investing, I would also recommend listening to a previous episode with the Founder of Net Net Hunter, Evan Bleker.
You can also watch Episode #122 of The Intelligent Investing Podcast on YouTube.
Net Net Stocks Mentioned
In this episode, we discuss three different net net stocks. Two of the companies either via myself or my clients are also shareholders in. One of the companies is a stock that Luis recently sold but it makes an interesting net net stock case study.
Trilogiq SA (Paris: ALTRI)
Trilogiq SA is a company based in France that specializes in the production and design of tubular structures for production lines. The company’s products and services are used to reduce non-productive areas, decrease operator movements, and optimize ergonomics, costs, and…
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Oct 20, 2020
#121: Harris Kupperman
Summary
In this episode of The Intelligent Investing Podcast, I sit down with Harris Kupperman (also known as Kuppy). Kupperman is the Chairman and CEO of publicly-traded Mongolia Growth Group (YAK: Canada and MNGGF: USA). Kupperman is also the founder of Praetorian Capital and writer of one of my favorite investment blogs, Adventures In Capitalism. You can also watch this episode on YouTube.
On this episode we discuss St. Joe Company (JOE) and Cornerstone Building Brands (CNR)
See Blog Posts Below:
* It's Joe Time
* Playing The Housing Recovery
We also discuss Inflection Investing and the Tortoise Acquisition Arb deal in which Hyliion is getting acquired by Tortoise Acquisition (SHLL – USA) Get In Touch With Kuppy
* Blog
* Twitter
* Praetorian Capital
HELP OUT THE PODCAST
If you like The Intelligent Investing Podcast, please consider leaving a rating and review on Apple Podcasts. It takes less than 30 seconds to do and makes a huge difference! You can also join t…
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Oct 13, 2020
#120: Brian Langis - Discussing TikTok and Social Media
SUMMARY
In this episode, Eric Schleien and Brian Langis discuss TikTok, social media, Facebook, and more. This episode was recorded before Oracle announced an intention to buy TikTok. This was more of a free for all and great discussion as always with Brian. Hope you enjoy! You can also watch this episode on YouTube. HELP OUT THE PODCAST
If you like The Intelligent Investing Podcast, please consider leaving a rating and review on Apple Podcasts. It takes less than 30 seconds to do and makes a huge difference! You can also join the Facebook page!
You can subscribe to the podcast on the following platforms:
* Apple Podcasts
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* Spotify
* Podbean
* iHeart Radio
* YouTube CONTACT ERIC SCHLEIEN
Facebook | LinkedIn | Twitter | YouTube | GSCM | Instagram
Email: IntelligentInvesting@gmail.com
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Sep 16, 2020
#119: Alexander Gramatzki; Investing In Music Royalties
To watch this episode on YouTube, click here. Summary
The music industry is growing for the fourth consecutive year, driven by the rise in online streaming. Platforms like Spotify, Youtube, Amazon Music, Pandora, and others are revitalized the industry which presents an opportunity to acquire intellectual property rights that pay royalties each time a song is streamed. Companies like Facebook, TikTok, and SnapChat have also recently announced that they will start paying royalties for music that is being used on their platforms which will only further increase the value of royalties are new users are starting to upload videos. The ICM Crescendo Music Royalty Fund (the “Fund”) is positioned to acquire songs in the $100,000 to $5 million range based on analyzing data such as historical royalty revenue and factors like artists tour schedule, number of playlists a song is on if the artists are releasing songs in the future, amongst other variables.
Data Analytics
To efficiently and…
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Aug 27, 2020
#118: Braxton Gann; Containerships; Shipping; Distressed Mortgage Notes
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* iHeart Radio Summary After global merchandise trade dropped ~20% in the wake of the Covid-19 policy response, shares of shipping companies collapsed, underperforming even the airline ETF. The industry now trades cheaper than at any time on this side of the millennium - less than 25% of liquidation value for some companies. Braxton believes this is unwarranted. Even during the seasonally weakest month of year, tanker earnings are still covering operating costs. In spite of analyst downgrades and widespread panic, tanker companies have used hefty profits from storing excess oil to rapidly deleverage. Structural Balance Although ULCV containerships are currently garnering far better rates than tankers, Braxton feels that this masks a precarious structural balance between supply and demand. Containership demand has ac…
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Aug 25, 2020
#117: Mariusz Skonieczny
To watch this episode on YouTube, click here. Subscribe
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In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with Mariusz Skonieczny. We discuss the shipping industry, COVID recovery stocks, value investing in general, Oroco Resources, and Mitcham Industries. We also discuss his new website, Microcap Explosions.
About Mariusz Skonieczny
Mariusz Skonieczny is the founder of Microcap Explosions and Classic Value Investors and the creator of Value Investing University. He is also the author of several books on the subject of investing.
He is a professional investor meaning and has written books and videos. He also, teach ballroom dancing.
Mariusz graduated from Indiana University in 2003 with a Finance degree. From 2003 to 2008, he was in the commercial real estate industry…
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Aug 20, 2020
#116: Robert Leonard
Summary In this episode of the Intelligent Investing Podcast, I sit down with Robert Leonard who is the VP of Growth & Innovation at The Investor's Podcast Network. He is also the host of the Millennial Investing Podcast and the Real Estate Investing Podcast. To watch the video of this podcast on YouTube, click here.
Robert is a Certified Management Accountant (CMA) who graduated Cum Laude with a BSBA degree in Finance and Economics from the University of Massachusetts, where he also earned his MBA degree in Accounting and Finance. He is an accounting and finance professional with an immense passion for stock and real estate investing, business, entrepreneurship, traveling, and spending time with his friends and family. Show Links
* JL Collins (The Simple Path to Wealth) on Millennial Investing
* Pomp (Bitcoin, COVID-10, and Macro) on Millennial Investing
* Simon Erickson (Growth Investing) on Millennial Investing
* Gary Mishuris (Warren Buffett Value Investing) on Millennial…
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Aug 7, 2020
#115: Shana Sissel; CIO Spotlight Asset Group; Alternative Investments; Mrs. Illinois 2020; Financial Literacy For Women; Women In Finance
OVERVIEW
In this episode of The Intelligent Investing Podcast, Shana Sissel sits down with Eric Schleien to discuss the world of Alternative Investments. Shana is a seasoned investment professional with almost two decades of industry experience. She currently serves as the Chief Investment Officer at Spotlight Asset Group. She also serves as one of the most prominent public faces of the firm. Shana is a frequent contributor on Bloomberg, Fox Business Network, the TD Ameritrade Network, Yahoo Finance and CNBC and travels the globe as a sought-after investment conference speaker.
Mrs. Illinois International 2020
In November 2019 Shana was crowned Mrs. Illinois International 2020 at the North Shore Center for Performing Arts in Skokie, Illinois.
Financial Literacy For Girls
As Mrs. Illinois International she is a prominent advocate for improving financial literacy rates for women and for gender diversity within the finance industry through her platform Investing in Girls.
Throug…
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Aug 6, 2020
#114: Vince Annable; The Household Endowment Model
Summary Most investment portfolios look the same, comprised of 60 percent stocks and 40 percent bonds, and each portfolio moves with the rollercoaster of the stock market. Vince Annable, best-selling author of The Household Endowment Model is here to show an alternative investment method that doesn't leave you whiplashed. Modeled after the Yale Endowment Model, The Household Endowment Model is a similarly diversified, non-correlated investment strategy for individuals and families, enabling them to make private, institutional-style investments with minimums in the $50-$100k range, rather than in the millions. By putting your money into alternative investments such as private equity, venture capital, real estate, natural resources, and more, The Household Endowment Model provides an illiquidity premium that prevents emotionally driven bad investment decisions and may contribute to greater overall yields in the future. About Vince Annable
Vince Annable, CRPC®, is the creator of The Hou…
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Aug 3, 2020
#113: Trey Henninger; Northfield Precision Instruments Corporation (NFPC); A Cheap Dark Stock
Summary Today's interview guest is Trey Henninger. Trey Henninger runs the blog and podcast, DIY Investing. Trey is a private value investor focused on microcap and dark stocks in the United States. His focus is on high-quality companies with predictable durable earnings where management has skin-in-the-game. Trey runs a concentrated portfolio of 5 stocks with a 20% weighting each. By focusing on small companies, Trey hopes to find overlooked compounders at value prices. His favorite opportunities have a market cap below $50 million.
Focus Stock: Northfield Precision Instruments Corporation Basic Company Information: Name: Northfield Precision Instruments Corporation Stock Ticker: $NFPC Location: New York, United States Industry: Industrial Manufacturing Market Cap: $5.3 million TTM Earnings: $668k Shares Outstanding: 234,237 (constant, no change in the last 5 years) Stock Price: $23.00 TTM EPS: $2.85 (based on 2019 FY results) P/B: 1.09 P/E: 8.07 Earnings Yield: 12% Dividend Yield:…
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Jul 30, 2020
#112: Jim White; Opportunity Investing
SUMMARY
In this episode of The Intelligent Investing Podcast, I sit down with Jim White to discuss his book Opportunity Investing.
As the famed value investor, Joel Greenblatt, had to say about the book:
"Jim White's marvelous book Opportunity Investing is conclusive evidence of my belief that the secret to investing is to figure out the value of something - and then pay less. Dr. White offers magical advice on how to make big money while saving on capital gains. At the same time, he vividly illuminates the dire situations in Opportunity Zones and presents a wide range of innovative ideas for Opportunity Funds, including directing them toward education and non-profits."
QUALIFIED OPPORTUNITY ZONES
For those interested in learning more about qualified opportunity zones and opportunity funds, check out Jim's presentation on YouTube.
ABOUT JIM WHITE Jim White, PhD is Chairman and CEO of Post Harvest Technologies, Inc. and Growers Ice Company, Inc., Founder and CEO of PHT Opportu…
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Jul 27, 2020
#111: XLMedia PLC; Malcolm Ingalsbe and Ladislao Zichy
In this episode, I sit down with Malcolm Ingalsbe and Ladislao Zichy Thyssen, co-author Quantrarian Research, a research blog covering microcap equities. We discuss a long position of theirs, XLMedia PLC
Summary
XLMedia PLC (LSE: XLM) is a leading digital publishing and affiliate marketing company that owns 2000+ informational websites across several high-growth verticals. The company generates sales primarily through revenue-sharing agreements; they publish editorials and other informational content (i.e. product reviews, rankings, ongoing deals, etc.) on their websites which drive visitors to their clients’ services.
History and Problems
XLMedia has experienced tremendous growth in the past decade, increasing revenues by over 750%. However, XLMedia’s top-line growth has retracted in recent years as it faces a combination of regulatory headwinds, search engine demotions, and the cancellation of sporting events. Worries over these complications have driven the share price d…
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Jul 16, 2020
#110: IKONICS Corporation (IKNX); David Flood
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Background
David found this stock by screening for the smallest listed companies in the United States. He doesn't bother screening on any value metrics, just lowest market cap company he can find. No mining, financials, crypto or cannabis. Summary
Founded back in 1952. HQ in Duluth, MN. Make emulsions and films in printing. Make different types of glass and etching equipment. Sound deadening equipment. Chemicals and materials.
7m market cap. 1m shares floated. Management owns 30%. 17m Revenue. Loss of 800k. A few bad years, then good thing happens. Sell off legacy business, start a new business. Ebbs and flows over time. Insiders Buying
CEO, COO, and Directors have all been buying
Valuation
Trades at half of book value. At some point there could be good news and a stock pop. Part of David F…
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Jul 14, 2020
#109: Video Display Corp (VIDE) | David Flood
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* YouTube Video Display (VIDE)
The company does video simulation products and video displays. Simulations for military and aerospace. They’ll also do huge video display units that can be installed in huge rooms like NASA.
5.9m Market Cap
Lots of hair on this company. Lots of liabilities. Made 67,000 last year. And loss-making previous 3 years. Why does David like it?
2 reasons:
* Price chart hit support and volume dropped off. Accumulation period. People picking up shares in the stock.
* CEO owns 49% of the company. He doesn't want to see the company go under. VIDEO has been around since 1975 which indicates that it has managed to struggle along for all these years. They have divested a lot of their old legacy businesses in 2014. Had expanded over the decades and "diworsified."
Potential Catalysts…
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Jul 10, 2020
#108: Micron Solutions (MICR); David Flood
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* YouTube Summary https://www.otcmarkets.com/stock/MICR/overview Micron (MICR) is a medical device company founded in 1978. MICR has a heavy debt load and negative working capital. It is sat at an all-time low and has recently announced it is going to de-list. Upon the announcement, the share price got cut in half. >10% owner has been buying more. http://www.openinsider.com/search?q=micr Insiders own 26% of the common. About David Flood
David runs the blog, Elementary Value, and is a private value investor based in the UK. His investing approach is grounded in the fundamental precepts of value investing based upon Ben Graham’s core concepts of ‘Intrinsic Value’ and ‘Margin of Safety’. His investment strategy involves looking at both ‘Deep Value and ‘Franchise Value’ situations and using the val…
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Jun 25, 2020
#107: Calloway's Nursery (CLWY) | Jan Svenda
OTC Stock Manual If you’d like to purchase Jan Svenda’s Manual Of Stock (like an updated online Walker’s Manual)…click, here. You can see samples to Jan’s manual, here. Subscribe
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Calloway's Nursery was first discussed in Episode #22.
In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with Jan Svenda to discuss Calloway's Nursery, Inc. (CLWY).
This may possibly be the least obscure stock that Jan has ever discussed on the show.
The company runs a small chain of garden centers in Texas. There is an activist investor in the management who has been a good steward of capital. The original pitch was that the company was trading below liquidation while business was solid. New management came in and realized value. There’s been about an extra 10% return with special di…
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Jun 22, 2020
#106: Jeremy Raper; Endor AG
For the full video interview on YouTube, click here. Subscribe
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Endor AG is a Munich-listed holding company whose sole asset is Fanatec, the premium provider of racing wheels and other accessories for sim racing games played on consoles and PCs Despite being a German-listed small-cap, the company has ~80% market share in the premium wheel/accessories segment and has essentially locked up exclusive branding rights for all the major OEMs and racing organizations (F1/Nascar/WRC) to produce branded replica racing wheels. Growth Endor AG grew 70-80% last year and has compounded revenues at 40% over the last 10yrs, as iRacing/simulated racing has grown organically in popularity at very high rates COVID-19 Impact Current growth is exploding due to COVID-19 and the mainstream recognition sim racing has garnere…
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May 27, 2020
#105: Pinelawn Cemetery (PLWN); An OTC Dark Stock; Jan Svenda
OTC Stock Manual If you’d like to purchase Jan Svenda’s Manual Of Stock (like an updated online Walker’s Manual)…click, here. You can see samples to Jan’s manual, here. Other Episodes Featuring Jan Svenda
* Altair
* Vulcan International
* Millennium Investment & Acquisition Company
* Conair Corp
* Mills Music Trust
* OTC Investing Primer Subscribe
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IF YOU’D LIKE TO WATCH THE INTELLIGENT INVESTING PODCAST ON YOUTUBE, CLICK HERE.
Summary
In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with Jan Svenda to discuss Pinelawn Cemetery (PLWN), a dark OTC stock.
Articles
* A Dark OTC Stock with a 9% Dividend Yield (Elementary Value)
About Jan Svenda
Jan is a “deep value” investor/analyst mainly focused on the US small-cap and micro-cap universe. He started ou…
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May 20, 2020
#103: Altair (ATCD); Obscure Dark Company; Jan Svenda
OTC Stock Manual If you’d like to purchase Jan Svenda’s Manual Of Stock (like an updated online Walker’s Manual)…click, here. You can see samples to Jan’s manual, here. Subscribe
If you like The Intelligent Investing Podcast, please consider subscribing on:
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* iHeart Radio IF YOU’D LIKE TO WATCH THE INTELLIGENT INVESTING PODCAST ON YOUTUBE, CLICK HERE.
Summary
In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with Jan Svenda to discuss Altair (ATCD), a dark OTC stock.
Articles
* Altair Corp Update (SeekingAlpha)
* Obscure, But Likely Attractive (SeekingAlpha)
About Jan Svenda
Jan is a “deep value” investor/analyst mainly focused on the US small-cap and micro-cap universe. He started out with a long-only bias (stocks trading close to NCAV etc.) which led to his interest in the OTC world.
Jan now covers this space through his exclusive newsletter service whe…
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May 12, 2020
#102: David Flood; TSR Inc (TSRI)
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Summary
In this episode of The Intelligent Investing Podcast, I sit down with David J Flood to discuss TSR, Inc (TSRI).
About David Flood
David runs the blog, Elementary Value, and is a private value investor based in the UK. His investing approach is grounded in the fundamental precepts of value investing based upon Ben Graham’s core concepts of ‘Intrinsic Value’ and ‘Margin of Safety’. His investment strategy involves looking at both ‘Deep Value and ‘Franchise Value’ situations and using the value investing framework to analyze the financial and corporate facets of a given prospective investment.
Staying In Touch With David Flood
* Twitter
* Blog
Staying In Touch With Eric Schleien
* Facebook
* YouTube
* LinkedIn
* Twitter
* Instagram
* GSCM
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May 11, 2020
#101: Zach Schleien | Capital Allocation In Marketing | Quarantine Dating | Filter Off
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Summary
In this episode, Eric Schleien interviews Zach Schleien, the founder of Filter Off which was recently featured in The New York Times.
You can read other articles about Filter Off below:
* Lockdown Love
* Does Dating During Quarantine Seem Impossible?
* Quarantine Dating
* Coronavirus Sees High Spike In Dating Apps
* Virtual Dating Is The New Normal
Zach Schleien built his first company going into senior year of college called BeginU, a platform for college students to find projects and work opportunities to develop their skills. Following BeginU, he then launched his second company, Top Romp an online dating blog that reviewed hacks and apps for the modern dater.
Zach then pursued his Masters in Information Management from Syracuse University where he soon launched his third c…
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May 8, 2020
#100: Coronavirus Investing Series, Part 12; Land Arbitrage; Jack Bosch
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If you'd like to watch this episode on YouTube, click here.
Coronavirus Investing Series: Part 12
This is Part 12 of a special Coronavirus Investing Series. If you have not listened to Part 1, please click here to get the overall context/market overview during this unprecedented time.
You can also listen to:
* Part 2
* Part 3
* Part 4
* Part 5
* Part 6
* Part 7
* Part 8
* Part 9
* Part 10
* Part 11 Summary
In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with Jack Bosch to discuss land arbitrage. It's a pretty unique value investing strategy with low competition due to the non-scalable nature of the investment. For those interested in obscure kinds of investments, you may find this useful.
Staying In Touch With Jack Bosch
* Website
Staying In Tou…
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May 6, 2020
#99: Vulcan International (VULC); A Dark Company Liquidation Play; Jan Svenda
OTC Stock Manual If you'd like to purchase Jan Svenda's Manual Of Stock (like an updated online Walker's Manual)...click, here. You can see samples to Jan's manual, here. Subscribe
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* iHeart Radio IF YOU’D LIKE TO WATCH THE INTELLIGENT INVESTING PODCAST ON YOUTUBE, CLICK HERE.
Summary
In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with Jan Svenda to discuss Vulcan International (VULC), a dark OTC stock that has an extremely nefarious and secretive history. The company is currently in liquidation and Jan believes it could potentially be an attractive investment.
Articles
* Vulcan International Is The Epitome Of A Dark Company | Seeking Alpha
* East 72 - Vulcan International Corp | Seeking Alpha
About Jan Svenda
Jan is a “deep value” investor/analyst mainly focused on the US small-cap and…
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May 4, 2020
#98: Microwave Filter Co; David Flood
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Summary
In this episode of The Intelligent Investing Podcast, I sit down with David J Flood to discuss Microwave Filter Co (MFCO).
You can read more about the company on David's Blog, here. About David Flood
David runs the blog, Elementary Value, and is a private value investor based in the UK. His investing approach is grounded in the fundamental precepts of value investing based upon Ben Graham’s core concepts of ‘Intrinsic Value’ and ‘Margin of Safety’. His investment strategy involves looking at both ‘Deep Value and ‘Franchise Value’ situations and using the value investing framework to analyze the financial and corporate facets of a given prospective investment.
Staying In Touch With David Flood
* T…
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Apr 30, 2020
#97: David Flood; Koss Corporation (KOSS)
IF YOU’D LIKE TO WATCH THE INTELLIGENT INVESTING PODCAST ON YOUTUBE, CLICK HERE. Subscribe
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Summary
In this episode of The Intelligent Investing Podcast, I sit down with David J Flood to discuss Koss Corporation (KOSS). The company is tiny, illiquid, and has been around for decades. Koss also has high insider ownership. As some of you may know, a lot of what David buys revolves around buying stocks when they are selling below book value and the stock sat in a low range on the long-range price chart. About David Flood
David runs the blog, Elementary Value, and is a private value investor based in the UK. His investing approach is grounded in the fundamental precepts of value investing based upon Ben Graham’s core concepts of ‘Intrinsic Value’ and ‘Margin of Safety’. His investment strategy involves looking at…
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Apr 28, 2020
#96: Winston Justice
If You’d Like To Watch The Intelligent Investing Podcast On YouTube, Click Here.
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In this episode of the Intelligent Investing Podcast, Eric Schleien sits down with Winston Justice, former OT for the Philadelphia Eagles and founder of Elixr Coffee Roasters.
By the time Winston graduated, Justice was widely considered one of the best tackles ever to come out of USC, blocking for two future Heisman Trophy winners, Matt Leinart and Reggie Bush.
That's what caught the eye of the Eagles. In the ensuing years with the team from 2006-11, he played in 47 games, with 31 starts, and was named to USA Today's 2009 All-Joe Team.
Winston now serves as a Vice President in Bernstein's Nashville headquarters, serving as an asset manager to multigenerational families, entrepreneurs, and nonprofits.
Winston Justice…
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Apr 27, 2020
#95: Dr. Charles Schleien | COVID-19 | Healthcare Economics
For Dr. Charles Schleien's Op-Ed in the New York Times on his experience with COVID-19, click here. If You’d Like To Watch This Episode On YouTube, Click Here. Subscribe
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Summary
In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with his father, Dr. Charles Schleien to discuss everything from COVID-19 to healthcare economics. We take questions from finance professionals on Twitter as well.
Resources
* Dr. Charles Schleien - New York Times Op-Ed
* Dr. Charles Schleien - CBS
* Dr. Charles Schleien - CNN - Don Lemon (TRANSCRIPT)
* COVID-19 Up To Date Research - NEJM Staying In Touch With Dr. Charles Schleien
* Twitter
Staying In Touch With Eric Schleien
* Facebook
* YouTube
* LinkedIn
* Twitter
* Instagram
* GSCM
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Apr 23, 2020
#94: Coronavirus Investing Series, Part 11 | Alex Portelli | The Economics of Facemasks & COVID-19 Tests
If you'd like to watch this episode on YouTube, click here. Subscribe
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Coronavirus Investing Series: Part 11
This is Part 11 of a special Coronavirus Investing Series. If you have not listened to Part 1, please click here to get the overall context/market overview during this unprecedented time.
You can also listen to:
* Part 2
* Part 3
* Part 4
* Part 5
* Part 6
* Part 7
* Part 8
* Part 9
* Part 10
Summary
In this episode, Eric Schleien and Alex Portelli discuss the economics of facemasks and COVID-19 tests. Alex has started a company shipping in facemasks and COVID-19 tests and has some very interesting stories. He also makes some suggestions on policy and gives his view on what is working and not working.
For a previous episode with Alex, you can listen, here.
Alex is a serial entrepreneur an…
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Apr 22, 2020
#93: Coronavirus Investing Series, Part 10 | Brian Dress
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Coronavirus Investing Series: Part 10
This is Part 10 of a special Coronavirus Investing Series. If you have not listened to Part 1, please click here to get the overall context/market overview during this unprecedented time.
You can also listen to:
* Part 2
* Part 3
* Part 4
* Part 5
* Part 6
* Part 7
* Part 8
* Part 9
Summary
Eric Schleien and Brian Dress discuss investment opportunities in the bond market. Brian Dress is an investment analyst at Left Brain Capital Management, LLC. Brian's angle relates to value opportunities his firm is seeing in the corporate and municipal bond markets, based on the massive selloff in credit markets over the past 6 weeks. Particular discussion points in this episode include:
Discussion of Bond Markets Pre-COVID
Brian thinks the spreads were far to…
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Apr 15, 2020
#92: Don Chambers; The Proxy Battle at Firsthand Tech Value Fund
For a review of this situation, please see: https://savefirsthandtechnology.com/ Subscribe
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Overview
In this episode of The Intelligent Investing Podcast, I had the pleasure of chatting with Don Chambers who is an activist currently involved with shaking things up at Firsthand Technology Value Fund (SVVC)
To see Don's presentation on SVVC or to get in touch with questions if you are a shareholder of SVVC or want to learn more information, please go to the presentation website, here.
About Don Chambers
Donald R Chambers currently runs the website, SaveFirstHandTechnology. He is also a recently-retired (June 2017) professor of finance with 36 years of teaching experience. Dr. Chambers has written several books regarding investments and personal finance that are distinguished by their clear writing and ability to make…
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Apr 9, 2020
#91: Coronavirus Investing Series, Part 9 | Shelly Lombard
This is Part 9 of a special Coronavirus Investing Series. If you have not listened to Part 1, please click here to get the overall context/market overview during this unprecedented time.
You can also listen to:
* Part 2
* Part 3
* Part 4
* Part 5
* Part 6
* Part 7
* Part 8 Overview
In this episode, I interview Shelly Lombard who spent over 30 years on Wall Street. Shelly started her career with financing leveraged buyouts at Citibank and then spent the rest of her career either at a hedge fund investing in high yield and distressed companies or at a research boutique covering those companies.
During the 2007-2009 automotive crisis, Shelly was one of the most quoted auto analysts on Wall Street, frequently appearing in the New York Times, Wall Street Journal, and on CNBC. Currently, she reviews investment ideas for a family office; trains new analysts at several leading investment banks; and guest lectures in the executive education programs at Columbia and Wharton.…
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Apr 1, 2020
#90: Coronavirus Investing Series, Part 8 | Jeremy Raper | Japanese Hotel REITs
This is Part 8 of a special Coronavirus Investing Series. If you have not listened to Part 1, please click here to get the overall context/market overview during this unprecedented time.
You can also listen to:
* Part 2
* Part 3
* Part 4
* Part 5
* Part 6
* Part 7
In this episode of The Intelligent Investing Podcast, I sit down with Jeremy Raper to chat about a potential opportunity in Japanese Mall REIT's which have been hit pretty hard during this coronavirus pandemic.
Overview
If you are willing to look through whatever happens in 2020 and assume we go back to a normalized environment in 2021, then you should be looking at some of the most beaten-down sectors.
You have to ask yourself a few questions when valuing names in the most beaten-down sectors of the economy:
* Is the equity going to survive?
* What losses are they taking along the way?
* What does that post-corona-world look like?
Japanese REITs
Japanese Mall REITs fall within the broader subse…
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Mar 30, 2020
#89: Coronavirus Investing Series, Part 7 | Jeremy Raper | GAN plc
This is Part 7 of a special Coronavirus Investing Series. If you have not listened to Part 1, please click here to get the overall context/market overview during this unprecedented time.
You can also listen to:
* Part 2
* Part 3
* Part 4
* Part 5
* Part 6
You can also listen to a previous episode where we discuss GAN, here.
You can also listen to our YouTube clip about GAN, here.
Overview
In this episode of The Intelligent Investing Podcast, Eric Schleien and Jeremy Raper discuss GAN plc. GAN is a leading developer and supplier of online gaming content and enterprise-level business to business gaming software systems as well as a provider of supporting operational services. GAN has developed the GameSTACK Internet Gaming System (or “IGS”) which the company licenses to online and land-based gaming operators as a turnkey technology solution for both regulated real-money and Simulated Gaming online.
GAN will benefit from people staying at home who do online gambling…
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Mar 26, 2020
#88: Coronavirus Investing Series, Part 6 | Jeremy Raper | Opportunities In Gold
This is Part 6 of a special Coronavirus Investing Series. If you have not listened to Part 1, please click here to get the overall context/market overview during this unprecedented time.
You can also listen to:
* Part 2
* Part 3
* Part 4
* Part 5
In this episode of The Intelligent Investing Podcast, Eric Schleien & Jeremy Raper discuss opportunities in the Gold Sector. Macro View
The macro view is that due to the massive debasement of currency during this coronavirus pandemic, that will be bullish for gold prices. In addition, gold companies such as Kinross Gold are shutting down production due to coronavirus outbreak which ends up being a net-positive for the commodity. Unlike commodities such as copper, gold demand is not impacted by economic activity due to less actual functional utility.
Gold Mining Stocks
However, Jeremy prefers Gold Minding stocks to owning actual physical gold outright. The reason for this is that if you can buy a gold miner that has been dumped…
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Mar 25, 2020
#87: Gregory Zuckerman | The Man Who Solved The Market: How Jim Simons Launched The Quant Revolution
In this episode of the Intelligent Investing Podcast, Eric Schleien sits down with WSJ Veteran Reporter, Gregory Zuckerman, to discuss his book "The Man Who Solved The Market: How Jim Simons Launched The Quant Revolution"
Editorial Reviews
“Leave it to the Wall Street Journal’s Greg Zuckerman to lay open the golden mysteries of quantitative investing. With this fine, humane, and eye-opening book, he’s well and truly broken the code.” —James Grant, Grant’s Interest Rate Observer “Captivating.” —New York Times “A compelling read.” —The Economist “Reads like a delicious page-turning novel.” —Barry Ritholtz, Bloomberg “One of the most important stories of our time.” —Financial Times “Zuckerman brings the reader so close to the firm’s inner workings that you can almost catch a whiff of the billionaire’s Merit cigarette.” —Brandon Kochkodin, Bloomberg “A gripping biography of investment game changer Jim Simons… readers looking to understa…
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Mar 23, 2020
#86: Coronavirus Investing Series, Part 5 | Jeremy Raper | Merger Arb
This is Part 5 of a special Coronavirus Investing Series. If you have not listened to Part 1, please click here to get the overall context/market overview during this unprecedented time.
You can also listen to:
* Part 2
* Part 3
* Part 4
OVERVIEW
In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with Jeremy Raper to discuss some merger arbitrage and special situation investment opportunities in this coronavirus market environment.
Staying In Touch With Eric Schleien
* Facebook
* YouTube
* LinkedIn
* Twitter
* Instagram
* GSCM Staying In Touch With Jeremy Raper
* Blog
* Twitter
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Mar 21, 2020
#85: Coronavirus Investing Series, Part 4 | Braxton Gann | Shipping Companies
This is Part 4 of a special Coronavirus Investing Series. If you have not listened to Part 1, please click here to get the overall context/market overview during this unprecedented time.
You can also listen to:
* Part 2
* Part 3
Overview
After a decade of bankruptcies, shipping investors are fed up. The shipping ETF was shuttered a month ago, and the carnage prompted Morgan Stanley and JP Morgan to drop coverage of the entire sector. Investors fear that Covid-19 will crush oil demand, and plummeting oil prices will result in tanker demand evaporating - potentially resulting in bankruptcies. However, tanker companies have used windfall profits to pay down debt, and some are now on solid footing.
Halts In Air Travel
As lockdowns spread and air travel grinds to a halt, oil consumption is collapsing, but Braxton says that's good for tankers because what oil isn't getting burned is going into storage on tankers, which were already in short supply.
Scorpio Tankers
Braxton d…
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Mar 19, 2020
#84: Coronavirus Investing Series, Part 3 | Jeremy Raper | Qantas Airways
This is Part 3 of a special Coronavirus Investing Series. If you have not listened to Part 1, please click here to get the overall context/market overview during this unprecedented time.
Part 2 of the series, can be found here.
OVERVIEW
In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with Jeremy Raper to discuss Qantas Airways, an airliner who has seen it's stock plunge during this coronavirus pandemic. Qantas is part of the Australian air travel market which Jeremy believes to have superior dynamics to most parts of the world. Jeremy believes there is triple-digit upside potential in the name with a low probability the stock goes to 0. We go into detail in the show. Staying In Touch With Eric Schleien
* Facebook
* YouTube
* LinkedIn
* Twitter
* Instagram
* GSCM Staying In Touch With Jeremy Raper
* Blog
* Twitter
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Mar 18, 2020
#83: Coronavirus Investing Series, Part 2 | Jeremy Raper | AerCap (AER)
This is Part 2 of a special Coronavirus Investing Series. If you have not listened to Part 1, please click here to get the overall context/market overview during this unprecedented time. Overview
In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with Jeremy Raper to discuss AerCap (AER), a bombed-out stock during this coronavirus pandemic. AerCap is the world's largest independent aircraft leasing company. Jeremy believes there is triple-digit upside potential in the name with a low probability the stock goes to 0. We go into detail in the show. Staying In Touch With Eric Schleien
* Facebook
* YouTube
* LinkedIn
* Twitter
* Instagram
* GSCM Staying In Touch With Jeremy Raper
* Blog
* Twitter
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Mar 17, 2020
#82: Coronavirus Investing Series, Part 1 | Jeremy Raper | General Market Overview
This is Part 1 of a special Coronavirus Investing Series. Overview
In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with Jeremy Raper to discuss a general market overview during this coronavirus pandemic. We discuss 3 baskets of places to start looking and researching to find potential investment opportunities. Staying In Touch With Eric Schleien
* Facebook
* YouTube
* LinkedIn
* Twitter
* Instagram
* GSCM Staying In Touch With Jeremy Raper
* Blog
* Twitter
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Mar 12, 2020
#81: Julian Lin | The opportunity in mall REITs | Macerich (MAC)
Show Notes
In this episode, Eric sits down with Julian Lin to discuss the mall real estate industry.
Julian is a contributor on Seeking Alpha with over 13,000 followers. Julian runs a stock investment newsletter named Best of Breed which invests in high-quality companies with “moaty” business models, conservative balance sheets, and best in class management teams. You can find out more about the newsletter here - there is a 2 week free trial available.
Stocks of mall real estate investment trusts (‘Mall REITs’) have been crushed over the past several years, with some names having dividend yields up to 30%. While retail bankruptcies and store closures have indeed pressured the sector, there are many misconceptions.
For one, vacant Sears and JCPenney stores do not signal the “death of malls” but instead present opportunity. Mall landlords are replacing these stores with restaurants, fitness centers, movie theaters, all while earning an 8% cash return on investment.
Fur…
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Mar 2, 2020
#80: Guy Spier
In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with Guy Spier who is the founder and investment manager of The Aquamarine Fund.
Eric and Guy discuss the philosophy of value investing beyond just looking at a business and how it impacts our day to day living and develops us as a human being.
Resources
* Think and Grow Rich
* How to Win Friends and Influence People
* The Infinite Game
* Finite and Infinite Games
Staying in touch with Guy
* Twitter
* Linkedin
* Facebook
* Instagram
Staying in touch with Eric
* Facebook
* YouTube
* LinkedIn
* Twitter
* Instagram
* GSCM
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Feb 25, 2020
#79: Gobinath Balasubramanian | Fairfax India | Thomas Cook India
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Summary
Eric Schleien sits down with Gobinath Balasubramanian. We discuss Fairfax India and Thomas Cook India.
Other interviews with Gobinath on The Intelligent Investing Podcast:
*
A Take-Under In Russia; A Cheap Mexican Cable Company That Will Make Its Market Cap Back In 5 Years
* Value Investing In India
About Gobinath
Gobinath Balasubramanian is the Chief Investment Officer of GB Investments LLC, which he founded in 2016.
Gobinath is a graduate from The University of Tampa – Sykes School of Business in Tampa, FL where he earned his Masters Degree in Finance. He performed his undergraduate studies at St. Peters Engineering college, in Chennai, India, earning a Bachelor of Engineering degree in Electronics and Communication. He holds the Series 65 license.
You can reach Gobinath on his LinkedIn or through his website for G…
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Feb 22, 2020
#78: Key Takeaways From The 2019 Berkshire Hathaway Letter To Shareholders | Eric Schleien
Today is one of my favorite Saturday's of the year. Every Saturday for over the past decade now, I have woken up every Saturday morning before the Berkshire Hathaway Letter To Shareholders is released, eagerly excited to take in whatever Warren Buffett has to share with us shareholders. I would imagine many of you do the same!
Once again, Warren Buffett has released his letter to shareholders this morning. In this episode of The Intelligent Investing Podcast, I break down the 2019 Berkshire Hathaway Letter To Shareholders with some of my thoughts and insights and go over some of the key highlights. 2019 Berkshire Hathaway Letter
The full letter can be found, here.
You can also watch this podcast on YouTube Connect With Eric Schleien
If you’d like to connect with me regarding the letter to discuss more, feel free to reach out!
Visit Eric Schleien’s WEBSITE
Visit Eric Schleien’s TWITTER
Visit The Intelligent Investing Podcast’s TWITTER
Like The Intelligent Investing Podca…
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Feb 10, 2020
#77: Alex Portelli | prntly.com
In this episode, Eric Schleien sits down with Alex Portelli to discuss his various entrepreneurial ventures.
Alex is a serial entrepreneur, and has started a diner, an ATM business, a real estate company, and an online news organization. He's now currently working on his next venture.
Alex is currently an investor in short term rental properties and is an owner of several successful websites.
Alex started his privately held AirBnB business 4 years ago and went from owning 0 to 8 properties since then. His web company is prntly.com and he is currently launching another company called prntpage.com which is currently in beta-testing.
Prntly.com became notorious after Donald Trump started re-tweeting some of their posts during the primary election cycle in 2016.
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Jan 29, 2020
#76: Evan Bleker | Net Net Hunter
Evan Bleker is a professional investor who has built his track record by buying high quality net net stocks. When not researching stocks, he focuses his time on helping small investors learn the strategy so they can earn great returns.
Evan manages two investing websites: Net Net Hunter and Broken Leg Investing.
* Net Net Hunter
* Complete guide to net net stocks
* Broken Leg Investing
* Deep Value Guide
Evan discussed Warren Buffett's net net investing practice during his partnership. Further resources available here:
You can follow Evan's portfolio performance here:
You can sign up for his free newsletter on the Net Net Hunter home page.
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Jan 25, 2020
#75: Igor Ciric | Check-Cap Ltd. (CHEK)
Hi Guys, it's Eric Schleien back again bringing you Episode #75! Thank you everyone for supporting the show 75 episodes later! You guys rock! This episode was recorded right before Christmas, however, a month later not much has changed. I sit down with Igor Ciric who is an individual investor who applies engineering frameworks to invest in publicly traded technology and technology-related companies. Check-Cap Ltd. (CHEK)
One of the Igor's holdings is in a company called Check-Cap Ltd. (CHEK). Check-Cap is a clinical-stage medical diagnostics company developing C-Scan®, the first capsule-based system for preparation-free, colorectal cancer screening. Utilizing innovative ultra-low dose X-ray and wireless communication technologies, their capsule generate information on the contours of the inside of the colon as it passes naturally. This information is used to create a 3D map of the colon, which allows physicians to look for polyps and other abnormalities. Designed to improve the patie…
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Jan 5, 2020
#74: Christian Olesen | Cambria Automobiles Update (CAMB)
Watch The Video!
It's been a while since we've talked about Cambria Automobiles on the Intelligent Investing Podcast. You can hear the original episode we did on Cambria, here. Update
Cambria Automobiles came out with earnings around the end of November. The stock was up ~15% on that news. The company increased earnings by ~25% over the previous year whereas the rest of the car dealership industry was down because of poor new car sales in the UK.
Cambria is up mostly because of new dealerships and startup losses are not turning into profits.
There are three categories of profits for car dealerships:
* New Car Sales (NCS)
* Used Car Sales (UCS)-used car
* After Sales (Parts & Service)
All three categories for Cambria were up which is an amazing accomplishment. It's even more incredible for NCS because that's the number one driver for the industry being down this year. Why Is Cambria Different?
Because the company started fibve luxury dealerships around 18-24 months ago. Lu…
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Dec 19, 2019
#73: Brian Dress | Left Brain Investment Research | 3 Distressed Bonds | 3 Undervalued Equities
Today I had the pleasure of having on Brian Dress who is an investment analyst at Left Brain Investment Research. We discuss 3 equity ideas and 3 bond ideas. We also delve into a bit about his firm's process as well.
* Click here for more information on Left Brain Investment Research
* Click here for more information on Left Brain Wealth Management
History/Background of Left Brain
Left Brain opened the wealth management business in 2014, hedge fund in 2016, and investment research platform in 2019. A differentiating characteristic of Left Brain's investing platform is an emphasis on selecting individual securities, particularly individual bonds in the high yield space. Brian genuinely enjoys and gets excited to share his investment philosophy with both individual investors and advisors. The company has slowly built up their investment staff in order to cover a large universe of high yield bonds (about 900) and about 200 stocks. What they've come to realize is that many advisors…
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