
The episode dissects Tripadvisor’s shocking Q4 FY25 results, which sent the stock tumbling below $10—a historic low—following a 2025 merger that eliminated a controlling shareholder. Host examines activist investor Jeff Smith’s aggressive push for strategic change, highlighted by his pointed question, “How is this possible?” to Chairman Greg Maffei and CEO Matt Goldberg, and explores potential divestitures like TheFork, Viator, or even the entire company. The discussion blends financial analysis with corporate governance insights, emphasizing the pressure on management to respond to activist demands and market realities.
The episode reviews the author's evolving stance on Netflix, noting a recent 200‑basis‑point trim to the stock after several reductions throughout 2024, signaling waning optimism. Despite the cut, Netflix still comprises about 8% of the portfolio, reflecting lingering confidence in...