It was awesome to have my good friend Yaron Naymark join the podcast. Some really interesting perspective on the current environment and 2 of Yaron's favorite ideas. Hope you enjoy!

Superb and highly practical insights here by Professor Penman!

Underappreciated insight into how firms *boost* profits by taking big writedowns.

So the cash-incinerating company at the epicenter of the AI Ecosystem, whose CEO is already taunting non-existent short-sellers, wants Federal taxpayer guarantees on its debt issuance…?! AYFKM…???!!!

I just signed leases on a $1 trillion data center. Need a government guarantee to prevent job loss.

Believe it or not, there are ways to make money in Europe.

In this episode, co-hosts Elliot Turner and John Mihaljevic are delighted to welcome back Phil Ordway for a lively discussion of the current market environment, the craziness we've seen in some pockets of the equity landscape, and what may lie ahead. podbean.com/eas/pb-inmv2-1…

Just released on Latticework: Domino’s Pizza (UK): Asset-Light, Growing Leader With High FCF Yield - Presentation at European Investing Summit 2025 latticework.com/p/dominos-pizz…

Just released on Latticework: Weekly Inspiration - Wisdom, Insights, and Ideas for Intelligent Investors latticework.com/p/weekly-inspi…

This Week in Intelligent Investing continues to be one of my favorite investing podcasts. Very aligned with how I think about stock markets. Rational, value-focused, always embracing the bear case, showing the ability two hold two conflicting views. Chapeau!

My take on a circulating claim: that hyperscalers extended server useful lives over the past few years to understate $176 B in depreciation and inflate earnings 21–27 % by 2028. Here’s what public filings show (my opinion based solely on disclosed data): Server useful-life

Luxury is a tax on insecurity.

Just released on Latticework: Richard Oldfield on His Book, and How Value Investing Has Changed - Exclusive Interview in Special Series, Intelligent Investing 100 latticework.com/p/richard-oldf…

Richard Oldfield embodies the idea that the highest level of intelligence is simplicity and the highest level of accomplishment is modesty. He’s been in the business long enough to distinguish skill from luck and generously shares his advice to becoming the best investor you can

Recorded some AMA answers. Here's an interesting question: "How do you distinguish between being early vs. just plain wrong? What's your process for re-evaluating a thesis when the market moves against you?" My take:

In this episode, Elliot Turner and @Mihaljevic welcome Samir Patel Askeladden Capital to discuss the use of AI in the investment process. Through the lens of mental models, Samir explains how and why he uses certain AI tools and approaches. Enjoy! podbean.com/eas/pb-74zkb-1…

Hard to overstate how rare and noble this is in the investment management business. Kudos to Terry Smith!

Just released on Latticework: Barratt: Well-Run UK Homebuilder at Discount to Liquidation Value - Presentation at European Investing Summit 2025 latticework.com/p/barratt-well…

Just released on Latticework: Weekly Inspiration - Wisdom, Insights, and Ideas for Intelligent Investors latticework.com/p/weekly-inspi…

Don’t miss Michael Fritzell (Asian Century Stocks)’s in-depth survey of AI tools for investing.