Q2 2024 Investor Audibles: Legacy Ridge Capital, Kathmandu Capital, Alluvial Capital

I'm excited to share my conversation with Stefan Lingmerth, founder of Sunshine Kapital (yes, with a K!). Stefan is a distress/stress investor. He buys the common stock of bombed-out, left-for-dead companies that look like they're heading for bankruptcy. If a stock is making new lows, there's a good chance Stefan knows about it and has already analyzed their balance sheet. This week, we discuss distressed investing, Trinseo $TSE, and Borr Drilling $BORR. Note: Stefan holds positions in the stocks mentioned at the time of recording. None of this is investment advice. Do your own work. Also note: I do not own shares in any of the stocks mentioned at the time of recording, nor do I plan on buying shares in the coming weeks. Finally, a big thanks to our sponsors for making this episode happen. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠⁠⁠⁠emergingmanagers.org⁠⁠⁠⁠, a website for emerging manager stockpickers. I highly recommend the site for those looking to start a stock-picking fund or just learning about how others have done it. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more! TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠⁠⁠⁠TIKR.com/hive⁠⁠⁠⁠. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Investor Audibles is back, baby! I hope you enjoy listening to the following Q3 investor letters: Upslope Capital Rowan Capital JDP Capital Management Let me know if there are other letters you want to hear! Finally, a big thanks to our sponsors for making this episode happen. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠⁠⁠⁠emergingmanagers.org⁠⁠⁠⁠, a website for emerging manager stockpickers. I highly recommend the site for those looking to start a stock-picking fund or just learning about how others have done it. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more! TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠⁠⁠⁠TIKR.com/hive⁠⁠⁠⁠. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

I hope you guys enjoy my podcast with Alberto Alvarez. We discuss Boab Metals (BML), silver, tin, and mining stock valuations. I loved this conversation and always enjoy Alberto's company. Make sure you follow him on Twitter/X @AAGresearch. Finally, a big thanks to our sponsors for making this episode happen. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠⁠⁠⁠emergingmanagers.org⁠⁠⁠⁠, a website for emerging manager stockpickers. I highly recommend the site for those looking to start a stock-picking fund or just learning about how others have done it. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more! TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠⁠⁠⁠TIKR.com/hive⁠⁠⁠⁠. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Jenny Chase is a solar analyst with BloombergNEF, goose keeper, and author of "Solar Power Finance Without the Jargon." We spend an hour diving deep into the solar industry. We cover: Solar panel adoption rates •Raw material inputs from ⁠#silver⁠ and ⁠#tin⁠ Solar value chains What investors get wrong about solar And more! I learned a ton and I know you will too. Make sure to follow Jenny on X @solar_chase and check out her work at BloombergNEF. Finally, a big thanks to our sponsors for making this episode happen. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠⁠⁠⁠emergingmanagers.org⁠⁠⁠⁠, a website for emerging manager stockpickers. I highly recommend the site for those looking to start a stock-picking fund or just learning about how others have done it. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more! TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠⁠⁠⁠TIKR.com/hive⁠⁠⁠⁠. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

I'm stoked to have Jerome aka @UzoCapital on the podcast this week. Jerome invests in off-the-beaten path ideas. His speciality of late has been de-SPAC'd companies, warrants, and private music royalties. This was such a fun conversation. Jerome is a great dude, has broad taste and hobbies outside investing, and just loves talking stocks. You'll hear what I mean when you listen. Make sure to follow Jerome on Twitter @UzoCapital. Enjoy! Finally, a big thanks to our sponsors for making this episode happen. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠⁠⁠⁠emergingmanagers.org⁠⁠⁠⁠, a website for emerging manager stockpickers. I highly recommend the site for those looking to start a stock-picking fund or just learning about how others have done it. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more! TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠⁠⁠⁠TIKR.com/hive⁠⁠⁠⁠. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

I hope you guys enjoy my podcast with Greg Orrell of OCM Gold Fund. Greg has done what most gold fund managers haven't ... outperform GDX. In fact, Greg has crushed GDX, returning 81% since 2008 versus GDX's 6% during the same time period. During the podcast, Greg dissects the gold miner industry and gives us a crash course on how to analyze, invest, and position size when buying gold producers. If you're interested in gold and precious metals stocks, you will love this episode. Finally, a big thanks to our sponsors for making this episode happen. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠⁠⁠⁠emergingmanagers.org⁠⁠⁠⁠, a website for emerging manager stockpickers. I highly recommend the site for those looking to start a stock-picking fund or just learning about how others have done it. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more! TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠⁠⁠⁠TIKR.com/hive⁠⁠⁠⁠. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Garrett Goggin is the founder of The Golden Portfolio, a newsletter that exclusively covers gold and silver mining stocks. Garrett has over 15 years experience investing in junior precious metals miners. I spent over an hour picking his brain on portfolio construction, grade hurdle rates, red flags to avoid, and how to value a mining stock. I think you'll like this one. Please note that Garrett or myself might own any of the stocks mentioned in the podcast. None of this is investment advice. Do your own work. Mining investing is extremely risky. You've been warned. Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠⁠⁠⁠⁠⁠emergingmanagers.org⁠⁠⁠⁠⁠⁠, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to ⁠⁠⁠⁠⁠⁠tegus.co/valuehive⁠⁠⁠⁠⁠⁠ for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠⁠⁠⁠⁠⁠TIKR.com/hive⁠⁠⁠⁠⁠⁠. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

I'm very excited to share my conversation with John Swallow, CEO of Idaho Strategic Resources (IDR). IDR is a small cap gold producer that does things differently. They generate cash flow. Then use that cash flow to explore their massive land package for gold and rare earth elements (REEs). John is a true owner operator. Not only is he the CEO, he owns a lot of the company's stock, barely makes more than the average mining geologist on his team, and has a long-term ownership mindset. Most junior mining companies are promotional gimmicks with a balance sheet and a story. IDR is different. They generate real cash flows and fund their business not on promises, but on results. DISCLOSURE: I AM A SHAREHOLDER IN IDR AS OF THIS RECORDING. NONE OF THIS IS INVESTMENT ADVICE. DO YOUR OWN WORK. MAYBE YOU COME TO THE SAME CONCLUSIONS AS I DID. MAYBE NOT. WHO CARES. Regardless of what you think of mining stocks, you will appreciate John's honest approach to his life's calling. I hope you enjoy. Finally, a big thanks to the following sponsors for making the podcast a reality. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠⁠⁠⁠⁠⁠emergingmanagers.org⁠⁠⁠⁠⁠⁠, a website for emerging manager stockpickers. For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more! Tegus Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best. I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to ⁠⁠⁠⁠⁠⁠tegus.co/valuehive⁠⁠⁠⁠⁠⁠ for a free trial to see for yourself. TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠⁠⁠⁠⁠⁠TIKR.com/hive⁠⁠⁠⁠⁠⁠. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Cody Shirk is a surfer, investor, and writer/founder of the Explorer Report. Basically, I want to be like Cody when I grow up. We spend 90 minutes discussing Cody's wild adventures traveling and investing in Latin America, his trip to Chernobyl to research uranium stocks, and how he thinks about gold, the US dollar, and other commodities. This was, by far, one of the most fun conversations I've had this year on the podcast. You're going to love it. Make sure to check Cody's writing out at codyshirk.com. Finally, a big thanks to our sponsors for making this episode happen. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠⁠⁠⁠emergingmanagers.org⁠⁠⁠⁠, a website for emerging manager stockpickers. I highly recommend the site for those looking to start a stock-picking fund or just learning about how others have done it. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more! TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠⁠⁠⁠TIKR.com/hive⁠⁠⁠⁠. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support

Josh Crumb talks all things commodities, green energy transition, mining labor shortage, and building Abaxx Futures Exchange. I hope you enjoy. Finally, a big thanks to our sponsors for making this episode happen. Mitimco This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠⁠⁠⁠emergingmanagers.org⁠⁠⁠⁠, a website for emerging manager stockpickers. I highly recommend the site for those looking to start a stock-picking fund or just learning about how others have done it. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more! TIKR TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at ⁠⁠⁠⁠TIKR.com/hive⁠⁠⁠⁠. --- Support this podcast: https://podcasters.spotify.com/pod/show/valuehive/support