Compounders Podcast

Investing in World Class Companies Early with Jake Barfield of Asheville Capital Management

My guest on the show this week is Jake Barfield, the founder of Asheville Capital Management, a long-only investment firm that seeks to invest in world-class companies before they are broadly recognized as such. Jake is also the host of his own podcast, Quality Investing. In this informative episode, we covered:

• The founding inspiration for Asheville;
• The type of companies that Jake is NOT going to invest in;
• Position sizing and concentration;
• What Jake finds so interesting about a company called InPost; and
• Why he decided to start his own podcast.

For more information, please check out Jake's website, and Jake's excellent podcast, Quality Investing. 

The Enduring Appeal of Smaller Cap Stocks with Vishal Mishra and Michael Demaray of Bard Associates

My guests on the show are Michael Demaray and Vishal Mishra of Bard Associates, a boutique wealth management firm that has been in business since the 1980s. Michael and Vishal are true value investors who like to look in places other investors neglect. Specifically, Bard invests in a space that is near and dear to my heart: US microcap stocks. In this informative conversation, we discussed:

• The strategies that Bard runs today for its clients;
• The firm’s long history of investing in small companies;
• Why some microcap stock prices are so volatile;
• The common characteristics of a core Bard holding; and
• The firm’s approach to interacting with company management.

Please see Bard's website for more information: https://www.bardassociatesinc.com/

Building the Best PE-Focused Executive Search Firm With Alex Rawlings of Raw Selection

My guest on this episode is Alex Rawlings, the Founder and Managing Partner of Raw Selection, an executive search firm that specializes in finding talent for PE firms and their portfolio companies. He is also the host of an excellent show called The Private Equity Podcast, which I was fortunate enough to be a guest on. In this informative conversation, we covered:

• The founding inspiration for Raw Selection;

• The opportunity Alex saw to differentiate Raw Selection from other exec search firms;

• The evolution of the talent recruitment industry that is focused on PE firms;

• Common mistakes PE firms make when hiring execs for portfolio companies; and

• How Raw Selection has developed an expertise in sourcing execs in the white hot HVAC space.

To learn more, please visit Alex's LinkedIn page: https://www.linkedin.com/in/alexrawlings/

Also, here is the link to Alex's upcoming book: https://www.raw-selection.com/how-to-hire/

 

The Next Institutional Grade Commercial Real Estate Asset Class with Cody Payne of Colliers International

My guest on this episode is Cody Payne, an SVP at Colliers and an expert on what is an emerging asset class within real estate, flex industrial. This is a little bit of a different podcast where we dive into this corner of the commercial real estate market and discuss why Cody thinks it could become a real institutional asset class. In this informative discussion, we covered:

• What flex industrial space consists of;
• The degree of institutional interest in the space today;
• The positive attributes Cody thinks flex industrial space offer investors;
• Current supply-demand dynamics in the market; and
• The book that Cody and his team wrote about flex industrial real estate.

Please see Cody's LinkedIn page to learn more about him. 

Here is the link to the book that Cody and his team wrote on this asset class: Flex Space Domination 

Hunting for Supernatural Compounders with Andrew Hollingworth of HollAnd Advisors

Our guest on the show this week was Andrew Hollingworth, the Portfolio Manager at HollAnd Advisors. Andrew has an eclectic background and, like many of previous guests, has centered his investment strategy around the search for compounders. In this informative conversation, we covered:

• How Andrew developed the investment philosophy he is employing today;
• Why he likes to invest behind owner-managers;
• His definition of a supernatural compounder;
• His contrarian stance on Biglari Holdings; and
• Why he is OK investing behind executives that other investors dislike

To learn more, please visit Andrew's LinkedIn page and the HollAnd Advisors website. 

Thanks for listening. 

Investing in Dislocations with Andy Kurita of Kettle Hill Capital Management

My guest on the show today is Andy Kurita, the Portfolio Manager at Kettle Hill Capital Management. Andy has a track record in long-short investing in small cap US equities that goes back to the early 2000s. We haven’t had many managers who actively short on the podcast and I was curious to hear from Andy about:

• How Kettle Hill is differentiated versus other hedge funds;
• What he thinks about the small cap investing landscape today;
• The difference between a stock that fits in the long book versus in the short book;
• What it has been like to be a short investor in recent years; and
• How he thinks about concentration and risk management.

From Public Markets to Early Stage Venture Investing with Joe Magyer of Seaplane Ventures

My guest on the show today is Joe Magyer, the Founder and Managing Partner at Seaplane Ventures. Joe spent the first part of his career in public equities and in 2022, founded Seaplane to focus on early stage investing. We have not had many VCs on the podcast before, and I was excited to speak with Joe about:

• His journey from public markets to venture investing;

• What the name Seaplane means to him;

• Where the firms plays in the VC ecosystem;

• Why he has decided to concentrate his investments; and

• How the skill set he developed after a long time in public markets helps him with his new venture today

Here is the link to Joe's bio: https://www.linkedin.com/in/joemagyer/

Here is the link to Seaplane's website: https://www.seaplaneventures.com/

 

Democratizing Access to Private Real Estate with Matt Blair, CEO of REI Capital Management

My guest on the show today is Matt Blair, the co-founder and CEO of REI Capital Management. Private real estate has been an asset class that has performed well over many years—but has largely been inaccessible to the average individual investor. In co-founding REI, Matt has the goal of democratizing access to private real estate investments. In this enlightening conversation, Matt and I discussed:

• How retail investors can typically access private real estate investments today;
• Why REI has gone through a lengthy SEC process to try to expand access to private real estate;
• The investment strategy REI is employing;
• Important investor considerations such as diversification and liquidity; and
• The types of property Matt is looking to acquire—without overpaying of course.

For more information about REI Capital Management, please visit: https://reicapitalmanagement.net/team-member/matthew-blair/

Listen to all Compounders Podcast episodes on either Apple or Spotify

iTunes: https://apple.co/3xlUvPY

Spotify: https://spoti.fi/3jxkxLl

All opinions expressed by your hosts and the podcast guests are solely their own opinions and do not reflect the opinion of SNN or its affiliates. This podcast is for informational purposes only, it is not investment advice, and should not be relied upon for any investment decisions. We are not recommending the purchase or sale of any securities. The hosts and guests may be beneficial owners of the securities discussed. You should not assume that the securities discussed are or will be profitable.

Investing in Growing Cash Cows with Tim Call, President and CIO of The Capital Management Corporation

Our guest on the show this week is Tim Call, the President and CIO of The Capital Management Corp., a long-only investment firm that focuses on cash cows. The firm has been around since the 1960s and has remarkable client retention numbers. In this enlightening conversation, Tim and I covered:

• The lasting legacy of the firm;
• What a cash cow means to CMC;
• Why they think SMID cap is a great place to be investing;
• The philosophy surrounding portfolio concentration; and
• How to get the most out of a small investment team.

For more information about The Capital Management Corp., please visit: https://cmcva.com/

Listen to all Compounders Podcast episodes on either Apple or Spotify

iTunes: https://apple.co/3xlUvPY

Spotify: https://spoti.fi/3jxkxLl

All opinions expressed by your hosts and the podcast guests are solely their own opinions and do not reflect the opinion of SNN or its affiliates. This podcast is for informational purposes only, it is not investment advice, and should not be relied upon for any investment decisions. We are not recommending the purchase or sale of any securities. The hosts and guests may be beneficial owners of the securities discussed. You should not assume that the securities discussed are or will be profitable.

Building a Moat Around Sky Harbor Group with Tal Keinan, CEO of Sky Harbor Group (NYSE American: SKYH)

My guest on the show today is Tal Keinan, the CEO of Sky Harbor Group, a publicly traded developer and operator of airplane hangars. Before conducting the interview, I had the opportunity to learn a lot about Sky Harbor from an investor friend who owns the stock and knows the company as well as just about anyone on the planet. That led to a deep, rich conversation where we covered:

• The process by which Sky Harbor became public;
• Whether Sky Harbor is a real estate company, an operating company—or both;
• An overview of the supply and demand dynamics for business aircraft hangar space;
• How Sky Harbor views the threat of emerging competition; and
• The economics and returns associated with developing new hangars.

For full disclosure, I am not a Sky Harbor shareholder.

For more information about Sky Harbour Group, please visit: https://skyharbour.group/

Listen to all Compounders Podcast episodes on either Apple or Spotify

iTunes: https://apple.co/3xlUvPY

Spotify: https://spoti.fi/3jxkxLl

All opinions expressed by your hosts and the podcast guests are solely their own opinions and do not reflect the opinion of SNN or its affiliates. This podcast is for informational purposes only, it is not investment advice, and should not be relied upon for any investment decisions. We are not recommending the purchase or sale of any securities. The hosts and guests may be beneficial owners of the securities discussed. You should not assume that the securities discussed are or will be profitable.