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Year: 2017

Podcasts, articles, and other things I found interesting

Posted On November 1, 2017
Some recent articles, podcasts, and other things that got me thinking: One of my favorite places to look for value in the stock market is publicly traded sports teams (I’ve previously discussed my investment in both MSG (disclosure: long) and BATRA (disclosure long)). My overarching theory with investing in sports teams is having them publicly […]

Bagholding with $NYRT

Posted On October 27, 2017
Upfront note: this post is long and dives into the weeds a bit. If you want the Twitter version, it’s 1) NYRT’s trading at a huge discount to their last reported NAV of $9.21, 2) that NAV is almost certainly overstated, 3) despite that overstatement, even using a set of pretty conservative assumptions it’s tough […]

A few quirky things that caught my eye

Posted On October 20, 2017
Based on my recent focus on Charter (CHTR, disclosure: long) and Netflix, you might figure I spend all of my time in the telecom / media space, but that's more a recent focus and, in general, I actually follow mostly smaller and quirkier companies. One of the things you learn quickly about smaller / quirkier […]

Some additional random thoughts on Netflix $NFLX

Posted On October 18, 2017
Last night, we did a podcast on Netflix’s Q3’17 earnings (in addition to the PG / Trian proxy battle). I’ve found podcasting is good for talking about broader topics and poor for diving into specific investment thoughts / details, so I wanted to type up a few more investing /stock specific thoughts that popped up […]

Matching with IAC $IAC $MTCH

Posted On October 12, 2017
IAC Interactive (IAC; disclosure: long) represents the opportunity to invest in a company trading for roughly the same price of its publicly traded equity stakes despite the presence of world class capital allocators with a proven history of realizing shareholder value at the opportune time, hundreds of millions in net cash on their balance sheet, […]

Cord cutting and other cable risks $CHTR

Posted On October 5, 2017
An increasingly long time ago, I was an analyst for a consulting firm. In ~2012, we were working with one of the big cable companies and I was on a call discussing some work I was doing modeling their finances going forward using different assumptions for cord cutting (things like what if 3% of customers […]

Still bullish on Charter $CHTR

Posted On October 2, 2017
I’ve previously published some bullish thoughts on Charter (disclosure: net long through the Liberty complex), but I wanted to publish some random updated thoughts here (to tip my hand, I plan on publishing a Liberty Ventures (LVNTA, disclosure: long) update in the wake of the GCI proxy getting filed and wanted to have updated thoughts […]

22 timeless lessons for our 22nd month

Posted On September 28, 2017
We launched my fund nearly 22 months ago. To commemorate the occasion, I wanted to share 22 timeless things I’ve learned in those 22 months. Overall thoughts on running a fund / portfolio Running a fund is easy. Having the vast majority of your net worth, your income, and your reputation tied into a fund […]

Some evolving thoughts on research

Posted On September 25, 2017
Ahhh so sorry for the lack of posts. I mean to post on here ~once a week, but it’s always a struggle. Why's it such a struggle? Say I research somewhere between three to five companies in a week and don’t like any of them. Should I still write about one? Why? What upside is […]

Conversation on $MSG

Posted On August 24, 2017
I went on Hedgeye to discuss our investment in MSG (disclosure: long). The video is ~17 minutes long; I have a feeling you'll like it if you follow this blog.
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