Value Investing: The Starvine Way

AI in Investing: Andi Kerenxhi of Ubineer

What are the implications of AI for professional investors? This is surely a question on every fund manager's mind. 

In this episode, we are joined by Andi Kerenxhi, founder of Ubineer. Andi is at the forefront of merging AI into professional investing with his firm’s proprietary software. Adding to his relevance for this podcast is his affinity for long term value investing. In this conversation, which was recorded on December 17, 2024, we explore how AI is benefiting professional investors, and how AI is likely to shape the landscape of both active and passive investing. 

Watch Andi's keynote presentation at the Ben Graham Centre for Value Investing's 2024 Value Investing Conference here. 

Investment Wisdom: Rockefeller's 38 Letters To His Son

In 2023, a collection of 38 letters from J.D. Rockefeller to his son was published. These letters spanned over four decades and were not previously widely available. Contained in the 194 pages is a treasure trove of wisdom relating to a broad range of topics. However, for this episode, the focus was on Rockefeller's advice that is helpful from an investing perspective. Be sure to obtain a copy of the book to gain access to the inner workings of his mind.

A word of appreciation is owed to Open Stax Textbooks for making these invaluable writings available to the public. 

S3E3: Kim Shannon of Sionna Investment Managers

Our guest in this episode was Kim Shannon, a decorated value manager in Canada. Kim has over four decades of industry experience, which covered some of the biggest tumults in market history. Being able to hear Kim's lessons from those major corrections and how she navigated them from a value manager’s perspective is invaluable, to say the least. We also discussed topics such as the importance having mentors, what it takes to be successful in investment management, and the paucity of women in the industry. 

This interview was recorded on August 26, 2024.

Christopher Mayer on Downdrafts

Downdrafts can make or break your career as a pro investor, and likewise as an everyday investor. In this episode, we welcome back Christopher Mayer, who most of you know as the author of 100 Baggers. I reached out to him after reading his blog post in October 2023, which was aptly published after a pronounced plunge in equity markets.  If this episode serves as a catalyst in changing one's behavior in future market and stock-specific drawdowns, then it is truly a gift that keeps on giving. Enjoy!

 

Interview recorded on July 11, 2024

Dr. George Athanassakos: The Role of a CEO

What do you believe CEOs' primary responsibilities are and what are the key ways that they add enduring value to a corporation? 

In this episode, Dr. George Athanassakos shares his expertise in an area that has historically been overlooked by financial academia: the ability of CEOs to allocate capital and the implications on investment returns. Great CEOs tend to be great value seekers.  Listen to this insightful interview to benefit from the compelling investment lessons shared by Dr. Athanassakos.

 

Interview recorded on July 11, 2024

 

 

Robert F. Bruner: The Panic of 1907

In the finale of Season 2, we spoke with Robert Bruner, the co-author of “The Panic of 1907: Lessons Learned from the Market’s Perfect Storm”. It is important as investors to study business history and the lessons it has to offer. Mr. Bruner identifies the causes of past financial crises and offers insights into how the everyday investor can prepare for difficult times.

The second edition of The Panic of 1907, which will be released on March 8, 2023, can be purchased from the Wiley website. Mr. Bruner's blog is also very much worth perusing.

 

Listen to the full episode on: Apple Podcasts: https://podcasts.apple.com/us/podcast/value-investing-the-starvine-way/id1528075267…

Spotify: https://open.spotify.com/show/1D96SAh5n7lQhWpLP6X6ef… YouTube: https://youtube.com/@starvinecapital382/videos…

Moneyball: Investment Lessons

Moneyball is a parallel universe with value investing. What lessons can we learn from the book and movie? Listen to find out.

The 2015 memo, "Moneyball: How is Baseball Related to Value Investing?" can be accessed with this link:  https://starvinecapital.com/wp-content/uploads/2017/07/Memo-Moneyball-and-Investing.pdf

 

When to Sell

It seems straightforward enough to know when to buy a stock, but knowing when to sell almost always poses a tougher challenge. Should we sell every time a holding's price significantly increases? When is it a mistake to sell? And when does it make sense to sell at a loss? Listen to the latest episode to sharpen your acuity on this subject.

Inversion

"Invert, always invert" ~ Charlie Munger.

Why is inversion a valuable tool? In this episode, we explore the practical uses of deductive thinking and its relevance to investing. Starting from the goal and working backward requires us to look a problem from a different angle - it can be a discovery process. By gaining awareness of actions that are harmful, we actually make a great leap forward to reaching our objectives. 

 

 

Anchoring

Anchoring is a psychological short cut that all human beings perform. In investing, the gravity of anchors is so powerful and pervasive that we must educate ourselves on this topic. Listen to this episode to gain awareness of the nuances of anchoring and learn what can be done to prevent it.