Ted Seides - Host of the Capital Allocators Podcast

Chris Sighinolfi rejoins The Stock Podcast for a follow-up interview where he talks about the current state of midstream. Tune in to hear Chris talk about investor sentiment, the role of ESG (environmental, social, and governance) mandates in the midstream space, and his perspectives on distribution cuts in the sector.

Kris Kelley is the founder and managing partner of Legacy Ridge Capital Management, a private investment firm that Kris started in 2018, shortly after he left Janus Henderson Investors. Kris has some strong views when it comes to the money management industry, views I personally agree with and ones I think every investor should hear. Kris is a value-focused, contrarian investor who believes the best way for active managers to serve their investors is through highly concentrated portfolios.

Now, if you were to ask a hundred value investors who had the greatest impact on their investment philosophy and principles, I’m sure you’d hear a lot of the same names – Warren Buffett, Charlie Munger, Ben Graham, Seth Klarman, and Stanley Drukenmiller. These investors have most certainly had an impact on me, but Kris has hands-down had the greatest impact on my investing philosophy….and that’s because Kris was my mentor during my six years at Janus. He’s one of, if not the greatest investors I know personally, he lives and breaths value-investing, and the perspectives he shares in this interview should open everyone’s eyes to a flawed industry.

Mike Rothman is the President and Founder of Cornerstone Analytics, an independent research firm that provides macro energy research. Mike is an industry veteran, having covered the oil market sector since 1984. He started his career at Merrill Lynch, built the energy research platform at ISI, and has attended OPEC meetings since 1986. Mike joins The Stock Podcast to discuss the global oil market, capacity reserves, and supply following the recent attack on the Abqaiq oil processing facility. On Sept. 14, 2019, the world awoke to the news that numerous drones and scud missiles hit Abqaiq, the world’s largest oil processing facility. The attack resulted in 5.7 million barrels of oil production capacity going offline, which equates to about 6% of global oil production. The event was the single largest loss of Saudi oil production in history. 

One concept that every student learns in business school is Porter’s Five Forces. So I thought that with this episode I’d  walk through Porter’s Five Forces for podcasting businesses. It’s a good way to demonstrate some of the things I’ve learned over the past year, while at the same time provide listeners with an annual overview. I’m also using this episode as an opportunity to talk about some changes to The Stock Podcast. At the very least, you’ll learn about one of the most well-known concepts in finance used to analyze the competitive landscape.

Chris Whalen is the Chairman of Whalen Global Advisors, an author, and co-founder of Institutional Risk Analytics. Chris is recognized as one of the investors who anticipated the eventual bankruptcy of Lehman Brothers and has a reputation as one of the foremost banking analysts on Wall Street. Tune in to hear Chris discuss banks, interest rates, and the leadership changes at the Federal Reserve on The Stock Podcast.

If you’d like to learn more about Chris Whalen, you should check out his blog here. Also, I highly encourage anyone interested in learning more about interest rates, credit spreads, and the dynamics behind bank earnings power to subscribe to the Institutional Risk Analyst. And if you want to dig deeper, you can purchase the quarterly IRA Bank Book.

As the title indicates, the stock podcast is coming to a close, at least for the time being. As for me, I’m leaving the world of podcasting to return to investing. There are a number of reasons why I had to make this tough decision, but the primary reason is that I have an opportunity to work with Kris Kelley at Legacy Ridge Capital.

For the past two years, I’ve poured my heart and soul into this program in an attempt to level the playing field for all investors. I still believe in the mission and I hope someone can pick up where I’ve left off, either with a new podcast or with this one! So reach out if you’re interested in the platform.

Take care and good luck with your portfolio!

Jim Lucier is a Managing Director at Capital Alpha Partners, a leading Wall Street research firm providing strategic policy analysis and political forecasting. Jim leads the energy, environmental, and tax practices at Cap Alpha. Tune in to hear Jim talk to IwtB about Trump’s proposal to replace the Clean Power Plan (CPP) with the Affordable Clean Energy (ACE) rule, the Federal Energy Regulatory Commission (FERC) and its importance in the buildout of US energy infrastructure, and a conversation about Colorado’s Initiative 97 and the attempt to drastically limit fracking in the state.

Brad Slingerlend and Brinton Johns are the co-founders of NZS Capital, LLC, an investment firm that focuses on innovative businesses that demonstrate non-zero-sum (NZS) characteristics. If you’re wondering what non-zero-sum means in investing, you really have to listen to this episode! Brad and Brinton are veteran tech investors with a top tier performance track record. Together they oversaw the Janus Henderson Technology funds for nearly 10 years. Over that period, they honed and perfected their investment philosophy and principles, which they share in this episode.