Marc Chalfin, CIO, Founder & Portfolio Manager, and Jay Upadhyay, Senior Research Analyst, at Windward Management LP, join the podcast to share their thesis on Groupon (NASDAQ: GRPN).
For more information about Windward Management LP, please visit:https://www.windwardmg.com/
Chapters:
[0:00] Introduction + Episode sponsor: Daloopa
[1:16] What is Groupon $GRPN and why is it so interesting right now to Marc and Jay
[3:24] $GRPN overhaul, why now is interesting and Windward's thesis
[11:49] $GRPN set up
[18:26] What is Marc and Jay seeing with $GRPN that the market is missing
[24:33] Inventory and Technology
[31:48] SumUp / BaseRate
[37:37] Final thoughts: web traffic, understanding the tailwinds
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Jeremie Eliahou Ontiveros, Technology Analyst at SemiAnalysis, joins the podcast to share his thoughts on the supply/demand dynamics of AI and data centers. For more information about SemiAnalysis, please visit:https://semianalysis.com/
Chapters:
[0:00] Introduction + Episode sponsor: Daloopa
[1:22] Supply and demand dynamics of AI; perspective on data centers
[9:03] Thoughts on DeepSeek; Jeremie's worry on the whole AI trade in general; AI training
[13:58] Is there a rush to generate more data right now?
[17:24] Jeremie's thoughts on NVIDIA
[26:32] What breaks the up cycle for AI / is subscription ultimately the way to monetize AI
[32:17] Interesting power plays (picks and shovels to support AI); bitcoin miners as potential AI plays
[40:58] Bitcoin miner/AI play that Jeremie is interested in; deep dive on AIRian
[50:27] Management activities from bitcoin miners; why are some of these companies not seeing the AI opportunity
[57:26] Final thoughts on AI, bitcoin mining, power, data centers; why this all domestic activity focused
Today's sponsor: Daloopa
Earnings season is hectic—there’s no way around it. But what if you could take back the time you spend on manual model updates? With Daloopa, you can.
Daloopa automates your audit and update process, instantly pulling accurate, fundamental data from filings and reports directly into your models. That means no more wasting hours on repetitive tasks. Instead, you can focus on analyzing trends, refining strategies, and staying ahead of the competition.
Stop letting manual work slow you down. Set up a free account today by visitingdaloopa.com/YAV and see how Daloopa can transform your workflow.
Shomik Ghosh, Partner at Boldstart Ventures, joins the podcast for the second time to discuss his thesis on Kelly Partners (ASX: KPG / OTCQX: KPGHF), a specialist chartered accounting network established in 2006 to provide a better service to private clients, private businesses & their owners, and families.
For more information about Shomik Ghosh and Boldstart Ventures, please visit:https://boldstart.vc/
Chapters:
[0:00] Introduction + Episode sponsor: Daloopa
[2:20] Who is Kelly Partners and why they are so interesting to Shomik
[5:31] What is Shomik seeing that the market is missing with Kelly Partners
[9:09] $KPG's secret sauce for rolling up accounting firms / incentive risks / back office secret sauce that $KPG can do that PE firm can't
[23:36] International expansion / is there enough growth runway of acquisitions
[30:27] Why not relist in US from Australia?
[37:10] Expanding into other areas outside accounting / AI tail risk
[46:49] Management
[52:13] Why are they so focused on McDonald's
[55:22] Final thoughts
[57:26] What does Shomik think would be the cause for the thesis breaking with Kelly Partners / how does Shomik look at fair value here
[1:02:24] Quick thoughts on Match Group
Today's sponsor: Daloopa
Earnings season is hectic—there’s no way around it. But what if you could take back the time you spend on manual model updates? With Daloopa, you can.
Daloopa automates your audit and update process, instantly pulling accurate, fundamental data from filings and reports directly into your models. That means no more wasting hours on repetitive tasks. Instead, you can focus on analyzing trends, refining strategies, and staying ahead of the competition.
Stop letting manual work slow you down. Set up a free account today by visitingdaloopa.com/YAV and see how Daloopa can transform your workflow.
Aaron Chan, Founder and Managing Partner at Recurve Capital LLC, joins the podcast to discuss his thesis on Carvana Co. (NYSE: CVNA), the leading e-commerce platform for buying and selling used cars.
For more information about Aaron Chan and Recurve Capital, please visit: https://recurvecap.com/
Carvana - Recurve’s Response to Hindenburg’s Short Attack (article): https://recurvecap.com/insights/carvana-recurves-response-to-hindenburgs-short-attack
Chapters:
[0:00] Introduction + Episode sponsor: Daloopa
[1:20] What is Carvana and why are they so interesting to Aaron
[5:00] What is Aaron seeing with $CVNA thesis that that the market is missing; differentiated view on CVNA
[9:39] Why the volatility and addressing that fear; factors for the wild swings
[16:49] Competitive analysis - why is no one copying the $CVNA model
[22:44] How much of an advantage is the national level of $CVNA's exposure
[26:47] Brand building / advertising
[30:30] $CVNA economics
[37:09] Why are so many short sellers attracted to $CVNA
[52:18] What Aaron thinks would be the reason $CVNA thesis doesn't work 3-5 years from now; downside risks to thesis
[57:05] Can $CVNA profitably serve rural places and discussion on valuation
[1:03:50] Why isn't every used car dealer dead and final thoughts
Today's sponsor: Daloopa
Earnings season is hectic—there’s no way around it. But what if you could take back the time you spend on manual model updates? With Daloopa, you can.
Daloopa automates your audit and update process, instantly pulling accurate, fundamental data from filings and reports directly into your models. That means no more wasting hours on repetitive tasks. Instead, you can focus on analyzing trends, refining strategies, and staying ahead of the competition.
Stop letting manual work slow you down. Set up a free account today by visiting daloopa.com/YAV and see how Daloopa can transform your workflow.
Yaron Naymark, Founder of 1 Main Capital, is back for the fifth time on the podcast to provide an update on his thesis for International Workplace Group plc (LSE: IWG), and how he overcomes the general investor skepticism associated with the company.
For more information about Yaron Naymark and 1 Main Capital, please visit: https://www.1maincapital.com/
Yaron's original YAVP appearance talking $IWG.L: https://www.youtube.com/watch?v=QmVjVOoG6Sc
Yaron's last YAVP appearance talking $IWG.L (June 2024): https://www.youtube.com/watch?v=FkZng2PSdxM
Chapters:
[0:00] Introduction + Episode sponsor: Daloopa
[1:31] Overview of $IWG.L and why it's interesting to Yaron
[10:36] Valuation
[13:42] Franchisees happiness levels with IWG / IWG's "secret sauce"; competitive advantage
[21:44] Funding is an obstacle? / RevPAR
[33:00] Overcoming general investor skepticism
[44:36] Recent transactions in the IWG (shared space) industry, and what that means for IWG valuation / why doesn't Regis own WeWork right now
[53:15] Valuation
[57:02] What the most likely reason Yaron thinks the thesis doesn't play out / final thoughts
Today's sponsor: Daloopa
Earnings season is hectic—there’s no way around it. But what if you could take back the time you spend on manual model updates? With Daloopa, you can.
Daloopa automates your audit and update process, instantly pulling accurate, fundamental data from filings and reports directly into your models. That means no more wasting hours on repetitive tasks. Instead, you can focus on analyzing trends, refining strategies, and staying ahead of the competition.
Stop letting manual work slow you down. Set up a free account today by visiting daloopa.com/YAV and see how Daloopa can transform your workflow.