In this episode the hosts walk through a discounted cash flow (DCF) valuation of Tesla, Inc., outlining their assumptions—a 10% discount rate, 3% terminal growth, and projected free cash flows rising from $6.5 B in 2025 to $10.5 B in 2029. The model yields an enterprise value of $127.4 B, a net cash position of $29.4 B, and an intrinsic share price of roughly $42, far below Tesla’s market price near $411. The discussion highlights Tesla’s strategic assets—vertical integration, battery tech, AI and autonomy, and energy solutions—while noting that the current market premium reflects speculative bets on future autonomy and AI platform monetization rather than present cash‑flow fundamentals.
In this episode, Warren Buffett’s 2008 shareholder letter is dissected to highlight timeless investment principles amid market turbulence. Buffett stresses that pessimism, not euphoria, should guide investors, urging disciplined valuation, liquidity, and patience during downturns while warning against chasing applause...
In this episode, Ed Wachenheim of Greenhaven Associates discusses his $6.1‑$6.2 billion equity portfolio, which remains heavily concentrated in cyclical and housing‑related stocks such as General Motors, Lennar, Toll Brothers, PulteGroup and D.R. Horton. He explains recent trims—most notably a 34%...
The episode reviews the Acquirer’s Multiple® Large‑Cap screen, highlighting that capital‑intensive cyclicals, discounted financials, and legacy industrials are trading far below the cash they generate. Energy giants like Equinor and Petrobras, financials such as Synchrony and BNY Mellon, and steel producer...
In this episode, Jeremy Grantham discusses the persistent risk of bubbles in today’s market, emphasizing that while transformative tech narratives—especially around AI—can be genuine, they often inflate valuations beyond realistic expectations. He warns that the real bubble may lie in...
The episode reviews recent 13F filings that show several top institutional investors, including Bridgewater, Gotham, Fisher, AQR, GMO, Pzena, and newcomer Bill Miller, increasing or initiating stakes in Cal-Maine Foods, the largest U.S. egg producer. The analysts cite Cal-Maine’s defensive...