Compounders Podcast

The Case for Making Reusable Digital Identities Ubiquitous with Jeff Schwartz, Founder & CEO of Dentity

My guest on the show today is Jeff Schwartz, the CEO of Dentity. Jeff has a long track of success and has been the CEO of a number of public companies. Jeff’s newest venture is called Dentity, a company that is attempting to make digital identities ubiquitous across the internet. In this fascinating conversation, we discussed:

• How a self-described “auto guy” got into the digital identity space;
• The business model surrounding creating digital identities for people;
• Why he enjoys building multi-sided markets from scratch;
• The role that AI is going to play when it comes to demand for verifiable digital identities; and
• The benefits of having a decentralized structure rather than one that is centralized

For more information about Dentity, please visit: https://www.dentity.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.

Assessing Manager Skill and Behavioral Alpha with Clare Flynn Levy, Founder & CEO of Essentia Analytics

My guest on the show today is Clare Flynn Levy, the Founder and CEO of Essentia Analytics. I met Clare several years ago when my prior firm worked with Essentia to help us improve our decision making. The process of having Essentia analyze past successes and mistakes was so insightful that I became a big fan of the product. Accordingly, when I reconnected with Clare recently, I was excited to speak with her about:

• The founding inspiration for Essentia;
• The concepts of Behavioral Alpha and of providing a helpful benchmark to managers;
• Working with both managers and allocators to help improve decision making;
• How Essentia can use all its data to make the software even better over time; and
• Ways in which managers can use Essentia’s data to help market their firms.

For more information about Essentia Analytics, please visit: https://www.essentia-analytics.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.

Creating a New Financial Asset Class with Nick King, Co-Founder and CEO of Vint

My guest on the show today is Nick King, the co-founder and CEO of Vint. Through Vint, Nick is on a mission to turn wine into a financial asset class. Nick was working on the buy-side at a value investment firm but left to work on Vint full-time in 2021. Since then, the company has gone through a rigorous SEC registration process and is now in position to offer investors the ability to participate in the returns available that come from owning wine. With that as a backdrop, I was eager to talk to Nick about:

• The structural inefficiencies in wine pricing that can lead to attractive returns;
• Where an investment in wine fits within a broader portfolio;
• The different strategies that Vint offers;
• How his experience as a professional investor has impacted the way he manages Vint; and
• Whether or not Vint benefits from being a first mover in the space.

For more information about Vint, please visit: https://vint.co/

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 an Antifragile Investment Firm with Soo Chuen Tan, President at Discerene Group

My guest on the show today is Soo Chuen Tan, the Founder and President at Discerene Group. Soo Chuen started the firm over 13 years ago with less than $100mm in assets. Since then, the firm has grown to manage over $2 billion in for clients. Discerene has one of the most compelling structures and relationships with its LPs of any public investing firm I know. I have had the privilege of listening to Soo Chuen speak on other podcasts and I was excited to chat with him on Compounders about:

• How he managed to convince his LPs to provide him with a drawdown structure;
• The hurdle rate for calling capital from LPs;
• Avoiding conformity and the kind of contrarianism that works for Discerene;
• The characteristics of a business that deserves to exist; and
• What attracts him to invest in emerging markets.

For more information about the Discerene Group, please visit: https://www.discerene.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.

The Confidence Checklist with Corey Henegar and Jeff Fahrenbruch, Co-Portfolio Managers at Oakview Capital Management

My guests on the show today are Corey Henegar and Jeff Fahrenbruch, the co-portfolio managers at Oakview Capital. Oakview is an SEC-registered, Dallas-based investment firm that was started in 2010. Jeff and Corey bring a unique lens into value investing and I enjoyed talking to them about:

• How decisions are made at Oakview given the co-PM structure;
• The types of companies they look to invest in;
• Portfolio construction, including position sizing;
• How they use checklists within their process; and
• Some of the unique metrics they use to determine business quality.

For more information about Oakview Capital Management, please visit: https://www.oakviewcm.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.

The Intersection of AI and Value Investing with Jim Falbe, Managing Principal, Portfolio Manager of Saguaro Capital Management

My guest on the show today is Jim Falbe, Managing Principal, Portfolio Manager at Saguaro Capital Management. After spending almost 8 years at Vulcan Value Partners, in 2021 Jim left to start Saguaro. The most unique thing about the Saguaro strategy is that it employs an internally-built AI system that helps with screening for stocks as well as with investment decision making. In this in-depth interview, we covered:

• How Jim’s experiences at Vulcan have shaped his approach to starting Saguaro;
• What the term AI actually means to Jim and Saguaro;
• How the team members use AI now and how they hope to use it in the future;
• Why a SMID-cap strategy was compelling enough to launch with; and
• Why he prefers to invest with companies growing inside of their moats.

For more information about Saguaro Capital Manage, please visit: https://www.saguarocm.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.

 

The Opportunity in Value-Add Multifamily Real Estate with Evan Curtis, Executive Director of Investments at Vanamor Investments

My guest on the show today is Evan Curtis, the Executive Director of Investments at Vanamor Investments, a private real estate investment firm. Given the ongoing turmoil in the real estate market first caused by COVID and then exacerbated by the sharp rise in interest rates, I was excited to have Evan on as our first real estate-focused, private investor. In this wide-ranging conversation, we discussed:

• The history of Vanamor, including the real estate verticals it has chosen to focus on;
• What Evan has learned about investing through real estate cycles;
• The opportunity set in investing in commercial real estate right now;
• How Vanamor incorporates data and technology within its process; and
• The benefits of running a small, nimble investment firm.

For more information about Vanamor Investments, please visit: https://vanamor.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.

Minority Growth Investing with Josh Collinsworth, Portfolio Manager at Nomadic Value Partners

My guest on the show today is Josh Collinsworth, the Portfolio Manager at Nomadic Value Partners. Josh started Nomadic in 2019 after spending a number of years as an allocator. Josh is one of the most eclectic investors I know, and his understanding of the byzantine US healthcare system makes him my go-to investor when trying to navigate investments in that industry. In this enlightening conversation, we discussed:

• Josh’s path from being an allocator to starting his own investment firm;
• How he developed an expertise within healthcare;
• Nomadic’s time horizon and how it compares to that of other investors;
• Portfolio concentration and position sizing

For more information about Nomadic Value Partners, please visit: https://nomadicvalue.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 Permanent Wealth for Clients with Drew Estes, Portfolio Manager at Banyan Capital

My guest on the show today is Drew Estes, the Portfolio Manager at Banyan Capital, a firm that has been around since the late-1980s. Drew joined Banyan in 2016 and then took control of the business in 2019. Drew has brought his own brand of long-term focus to build permanent wealth for the firm’s clients. In this engaging conversation, we covered:

• The history of Banyan and how Drew came to control the firm;
• Portfolio construction, including concentration and the ideal type of company;
• Drew’s unique perspectives on client communications;
• His affinity for insurance companies, including Berkshire Hathaway’s; and
• How he goes about finding cheap compounders

For more information about Banyan Capital, please visit: https://banyancapital.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.

The Business of Podcasting with Matt Reustle, CEO of Colossus

My guest on the show today is Matt Reustle, the CEO of Colossus. For anyone who is not familiar with the platform, Colossus is the home for a number of excellent podcasts, including Invest Like the Best, Founders, The Art of Investing and Business Breakdowns. Given my person experience with podcasts, I was really looking forward to learning from Matt about:

• The economics of podcasting as a business;
• Where the idea for Colossus came from;
• How Matt and his partners decide which new podcasts to add to the platform;
• Where we are in the maturation of the ad market for podcasts; and
• Best practices in partnering with advertisers

For more information about Colossus, please visit: https://www.joincolossus.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.