Latest podcast from J Mintzmyer from Value Investor's Edge.

Navigator Holdings (NVGS) was recently profiled as an emerging top pick at Value Investor's Edge.We recently followed up with the management team to discuss the current market conditions and their strategy into 2023.

Lars Barstad, CEO of Frontline, joined us to discuss the latest trends in the tanker markets along with specific company strategy and capital allocation priorities.

Gary Vogel, CEO of Eagle Bulk, joined us on 17 January 2023, to discuss the latest trends in the market along with specific company strategy and capital allocation priorities.

Jacob Meldgaard, CEO of Torm Plc (TRMD), joined J Mintzmyer on Value Investor's Edge Live on January 10, 2023, to discuss the product tanker markets, upcoming catalysts, company strategy, and capital allocation plans. Torm is a major US-listed product tanker company with a fully-delivered fleet of 78 vessels.

Danaos Corp. (NYSE:DAC) CFO, Evangelos Chatzis, joined Value Investor's Edge Live on 16 June 2022 to discuss the current containership leasing markets and capital allocation priorities going forward. DAC has been a massive winner from the ongoing supply chain crisis, but they have taken the long-term view with very responsible moves including comprehensive refinancing, massive deleveraging, and fixing their fleet onto medium- and long-term contracts to lock in sky-high rates. DAC has benefitted from a significant investment in Zim Integrated Shipping (ZIM), which they have partially monetized over the past six months.Despite executing in near-perfect form, DAC stock has been stagnant the past few months and has now fallen back to negative territory y/y. This position is one of our top ideas at Value Investor's Edge, and we were very encouraged by the recent authorization of a $100M share repurchase program. DAC short interest has increased this summer and now looks to be a coiled spring ahead of what is expected to be multiple years of consecutive earnings blowouts amidst surging free cash flows. Our current fair value estimate is $125/sh, which implies around 80% upside to recent trading ranges. This interview and discussion of the underlying containership markets is relevant for anyone with container shipping interests or investments, including firms such as Atlas Corp. (ATCO), Costamare (CMRE), Euroseas (ESEA), Global Ship Lease (GSL), Matson (MATX), Navios Partners (NMM), Textainer Group (TGH), Triton Intl (TRTN), and Zim Integrated Shipping (ZIM).Topics Covered(0:00) Intro/Disclosures(1:45) Update on overall containership leasing markets.(6:00) What is the market missing when selling off all these stocks?(8:15) Any restrictions with the share repurchase program? Available now?(10:15) Why $100M for the repurchase program (vs. more or less)?(11:30) Why not just take the company private?(14:15) Review of stock price vs. enterprise valuation.(17:45) Newbuild strategy and overall approach?(21:45) Target charter durations?(24:15) Planned leverage for newbuild assets?(27:30) When might more newbuilds be added?(33:30) Likely economic return from newbuild transactions (ROE, etc)?(36:15) Any potential for secondhand vessel purchases?(37:30) Potential for more vessel sales? Forward sales?(42:30) Dividend policy: potential for a special div or near-term raise?(44:45) Any changes to ZIM divestment policy?(46:00) Charter nuances with HMM extensions, CMA CGM options, etc.(49:00) Repurchase lock-up? Q2 reporting timeline?

John Wobbensmith, CEO of Genco Shipping (GNK), joined J Mintzmyer's Value Investor's Edge Live on June 14, 2022, to discuss the dry bulk markets and forward prospects and capital allocation. Genco Shipping is a major US-listed dry bulk company with 44 vessels on the water. We discussed overall dry bulk fundamentals, ranging from China's impact on markets to the impact of the Ukraine invasion on midsize trade routes in grain and coal. We also reviewed the economics of GNK's scrubber program and the updated shareholder returns program. Genco will pay out nearly 100% of free cash flow going forward and aims to be net debt free by next year.This interview and discussion is relevant for anyone with dry bulk investments or interest in the overall sector, including Diana Shipping (DSX), Eagle Bulk (EGLE), EuroDry (EDRY), Grindrod Shipping (GRIN), Golden Ocean (GOGL), Navios Maritime Partners (NMM), Pangaea Logistics (PANL), Safe Bulkers (SB), Seanergy Maritime (SHIP), and Star Bulk Carriers (SBLK).Topics Covered(0:00) Intro/Disclosures(1:45) Dry bulk market overview(6:00) Additional color on China dynamics and Ukraine impacts?(10:45) Updated views on market vs. early-2022 expectations?(14:30) Will elevated opex levels remain going forward, or just a one-off?(17:45) Update on scrubber spreads and company strategy?(21:30) Any interest in secondhand vessel acquisitions?(23:30) Desire to further reduce debt or still targeting net debt zero?(25:30) Any interest in repurchases?(27:30) Discussion on the merits of zero net debt strategy.(35:45) Review of newbuild markets, any interest here?(39:00) Why invest in GNK vs. other dry bulk peers?

Hamish Norton, President of Star Bulk Carriers (NASDAQ:SBLK), Co-CFOs Christos Begleris and Simos Spyrou, and Head of Research Constantinos Simantiras joined J Mintzmyer's Value Investor's Edge Live on June 8, 2022, to discuss the dry bulk markets and forward prospects and capital allocation. Star Bulk Carriers is the largest US-listed dry bulk company with 128 vessels on the water. We discussed overall dry bulk fundamentals, ranging from China's impact on Capesize markets to the impact of the Ukraine invasion on midsize trade routes in grain and coal. We also reviewed the economics of SBLK's scrubber program and current capital allocation priorities.This interview and discussion is relevant for anyone with dry bulk investments or interest in the overall sector, including Diana Shipping (DSX), Eagle Bulk (EGLE), EuroDry (EDRY), Genco Shipping (GNK), Grindrod Shipping (GRIN), Golden Ocean (GOGL), Navios Maritime Partners (NMM), Pangaea Logistics (PANL), Safe Bulkers (SB), and Seanergy Maritime (SHIP).Topics Covered(0:00) Intro/Disclosures(1:00) Current dry bulk market conditions and prospects?(5:30) More net optimistic or concerned about China developments?(7:30) Midsize has been steady - will Ukraine disruptions threaten rates?(10:00) More bullish vs. our last discussion in January 2022?(11:30) Are asset values getting overextended?(13:45) Are demolition values sustainable or too high?(16:45) How long would it take to order newbuild vessels?(18:00) Scrubber economics? Any desire to lock in the profit spread?(22:00) Capital allocation priorities: Will SBLK be paying down more debt?(25:15) Which dry bulk vessels are currently the most attractive?(27:00) Logic behind the share sale and repurchase arbitrage?(29:00) Any share issuance planned outside of direct asset purchases?(30:00) Potential to repurchase shares? Needed criteria?(32:00) What differentiates SBLK from peers? Why invest here?(36:45) Promising propulsion technologies or other ESG projects?(39:00) Risk of significant share overhang due to large Oaktree position?

International Seaways (INSW) CEO Lois Zabrocky and CFO Jeff Pribot joined Value Investor's Edge Live on Jan. 12, 2022, to discuss the crude tanker and product tanker markets and company prospects for 2022. INSW has survived the horrible COVID-19 related downturn in the sector and has completed a major merger along with strengthening the balance sheet and improving liquidity. INSW is prepared for almost any market and they should benefit from a significant catalyst by mid-2022 as they plan to either sell or refinance a joint venture, which should unlock $150M+ in free cash flow. Topics Covered(2:00) What is the current state of the tanker markets?(4:15) Updates on the product tanker side of the business?(6:45) Concerns about the heavy delivery schedule in 2022?(9:30) Impact of EEXI to INSW and the overall market?(11:30) Any concern about middle-aged tonnage, 2006-2008 types?(14:15) Updates on the niche Panamax business?(15:15) Any interest in secondhand purchases or newbuilds?(17:15) Capital allocation balance: potential for more repurchases?(21:00) Leverage and liquidity targets?(22:30) FSO JV discussion: potential for cash-out refinance or sale?(25:15) Valuation targets for FSOs and refinancing potential?(27:15) Why does INSW still trade at a massive discount? Any actions?(30:45) Any interest in conducting a tender offer later this year?(33:45) Why invest with INSW as opposed to other tanker plays?

Genco Shipping (GNK) CEO, John Wobbensmith, joined Value Investor's Edge Live on Jan. 12, 2022, to discuss the dry bulk shipping markets and company prospects for 2022. GNK has spent the past few years renewing the fleet and rapidly deleveraging the balance sheet to prepare for a new dividend policy of near-100% free cash flow payouts. The dividends will be variable, and will depend on underlying market conditions, but I am bullish on the company structure and I believe the valuations are attractive at this juncture.Topics Covered(1:45) Current market balance and setup for dry bulk?(6:30) China dynamics in 2022: potential headwind?(11:00) How long would it take to order new dry bulk vessels?(14:15) Impact of EEXI to GNK and overall market?(19:00) Discussion of dividend policy: reserve amount?(23:00) How will repurchases factor into capital allocation?(26:30) Why does Genco trade at a significant discount to peers?(30:15) What if the high dividend fails to improve valuations?(32:00) Growth if GNK trades at a premium to NAV?(34:00) Largest risk factors in the current dry bulk market?(37:45) Why invest in Genco versus other dry bulk names?

Danaos Corp (DAC) CFO, Evangelos Chatzis, joined Value Investor's Edge Live to discuss the containership leasing markets and prospects for 2022. DAC has been a massive winner from the ongoing supply chain crisis, but the have taken the long-term view with very responsible moves including comprehensive refinancing, massive deleveraging, and fixing their fleet onto medium- and long-term contracts to lock in sky-high rates.Topics Covered(2:15) Update on ocontainership markets: how long can strength last?(6:00) Liners gladly taking ships 2023-2028, what is the market ‘missing?’(9:15) Potential to sell any more older ships?(11:15) Further appetite to add growth deals in this market?(12:45) What about newbuilds with long-term charters attached?(15:15) Will cash be wasted on bad growth deals?(18:00) How can Danaos close the massive valuation gap?(20:45) Dividend policy and future payout policy?(22:30) Balance sheet: leverage target and use of funds?(27:30) Danaos plans for ZIM stake? Structure to reduce taxes?(31:00) Share repurchase program on the table?(34:45) What are the key risks to this market and to DAC?(36:45) Potential for future contract rolls? CMA CGM “market rate”?(40:30) Interest in a share split? Potentially 5-1?(42:15) Why invest in DAC versus other containership peers?

Zim Integrated Shipping (ZIM) was one of my top picks during 2021 and I have heavily covered the company privately and publicly dating back to last February after their IPO. My most recent full-length report was shared in early-December and I have further increased my earnings expectations since then due to the remarkably persistent freight rates. (1:30) Outlook for the containership business in 2022?(5:15) Risk of a near-term drop in rates? Largest risks in 2022?(8:30) Update on LA/LB service, still diverting ships?(11:00) Current freight negotiations, contract mix going forward?(18:15) Status of 2M Alliance negotiations, any changes?(20:30) Dividend policy: what determines 30-50% payout range?(24:30) What to do with remaining cash: capital allocation priorities?(33:15) Why not have an active share repurchase? Block purchases?(39:00) Update on potential tax rate reduction?(44:15) Results of digital ventures and investments? Valuation potential?(52:00) Potential for FY22 earnings to be even higher than FY21?

The Textainer Group (TGH) management team joined Value Investor's Edge Live on January 10, 2022, to discuss the container box leasing markets and prospects for 2022. TGH spent most of the past 18-months prioritizing growth capex, but they have also been actively repurchasing shares, and they re-launched their dividend last quarter. As we shift into 2022, higher shareholder returns appear likely as growth capex will eventually slow down. TGH has signed most of their recent growth on 12-year to 14-year contracts, so once the forward growth slows, TGH will have enormous resources available to either pay large dividends or repurchase more shares.This interview and discussion of the underlying LNG global markets is relevant for anyone with container shipping interests or investments, including firms such as Atlas Corp (ATCO), Costamare (CMRE), Danaos Corp (DAC), Euroseas (ESEA), Global Ship Lease (GSL), Matson (MATX), Navios Partners (NMM), Triton Intl (TRTN), and Zim Integrated Shipping (ZIM). Topics Covered(2:00) How are box leasing prospects shaping up for 2022?(4:45) Is capex slowing in 2022, or might volumes be similar to last year?(6:45) Current economics in growth projects? Still near record levels?(9:00) When will free cash flow shift towards higher shareholder returns?(11:00) Balance sheet update? Still targeting 75-80% leverage?(16:00) Preferred equity discussion- potential for more?(17:30) When will lower legacy contracts roll to new deals at higher rates?(21:00) Penalty rate on old contracts vs. current market rates?(26:00) Potential for dividend raises going forward?(29:30) Timeline for shifting into heavier shareholder returns?(33:30) How should investors value a business like Textainer Group?(37:00) What else can TGH do to close the massive stock valuation gap?(38:30) What are the key risks and concerns for 2022 and beyond?(42:30) Counterparty risk and contract strength/structure?(48:45) What is the risk if we have huge inflation in the coming years?(51:45) Why should investors choose TGH as an investment vs. peers?

Chris DeMuth discusses his best idea for 2022, RENN. RENN was on a previous podcast pitched by Ian Bezek as a legal play; since then, RENN settled with minority shareholders for a record payout. However, in December, RENN's shares sold off massively as a judge rejected their proposed settlement with minority shareholders and ruled the payout should instead go to former shareholders; Chris explains why he thinks that ruling is wrong and likely to be overturned.Chapters0:00 Intro1:50 RENN background4:20 What's happened since the last RENN podcast8:20 The settlement announcement in October12:35 What happens in December / why the stock craters19:45 Why are current shareholders appealing the judge's ruling?24:00 What does a derivative suit mean and why is that important?30:00 Were there any precedents for former shareholders getting the settlement payout?35:30 Discussing the unique minority shareholder only payout38:50 Could the settlement be recut to pay directly to the company?44:50 What does the timeline going forward look like?46:30 What happens to the "excess legal fees"?54:30 Why a quick decision on the appeal could be good57:35 What odds does Chris give for the appeal winning?1:00:10 Bear push back: The Sprint / TMUS precedent1:05:40 Closing thoughts

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Oeystein Kalleklev, CEO of Flex LNG (FLNG), a leading ultramodern LNG shipping company, joined J Mintzmyer's Value Investor's Edge Live on June 10, 2021, to discuss the LNG shipping markets and capital allocation priorities for Flex LNG. Flex has set an upsized dividend level of $0.40/qtr and appears set to support this payout, and potentially even higher payouts, due to excellent time charter fixtures. Despite this progress, FLNG still trades at a significant discount to NAV if we utilize newbuild asset parity, which I estimate at nearly $20/sh. This implies over 45% of equity upside in addition to a nearly 12% income yield. FLNG is likely to raise the dividend even further by late 2021!This interview and discussion of the underlying LNG global markets is relevant for anyone with LNG shipping or LNG export infrastructure investments, including Cheniere (LNG), Cheniere Partners (CQP), GasLog Partners (GLOP), Golar LNG (GLNG), Hoegh LNG Partners (HMLP), Teekay LNG Partners (TGP), and Tellurian (TELL).Topics Covered(3:00) What is driving the strength in LNG markets?(9:00) What is the spread between MEGI/XDF and TFDE rates?(12:00) Any additional charter coverage planned?(14:00) Any appetite or opportunity for fleet growth?(17:30) Potential to increase share purchase authorization levels?(21:00) Commentary on dividend program and sustainability.(23:45) What are the primary risks in this market?(28:00) Any impacts/risk to upcoming regulations? Any benefits?(33:00) Technical difference between ME-GI, ME-GA, and X-DF designs?(38:30) Any concern about the LNG orderbook? Qatar orders?(47:15) Commentary on recent interest rate swap transactions?(52:30) What differentiates FLNG from peers and other shipping firms?Learn more about your ad choices. Visit megaphone.fm/adchoices

Hugo De Stoop, CEO of Euronav (EURN), a leading crude tanker company, joined J Mintzmyer's Value Investor's Edge Live on June 9, 2021, to discuss the crude tanker markets, recovery trajectory, and capital allocation priorities for Euronav. This interview and discussion is relevant for anyone with crude tanker or product tanker investments, including Ardmore Shipping (ASC), Diamond S Shipping (DSSI), DHT Holdings (DHT), Frontline (FRO), International Seaways (INSW), Navios Maritime Acquisition (NNA), Nordic American Tankers (NAT), Scorpio Tankers (STNG), Teekay Tankers (TNK), Tsakos Energy Navigation (TNP) and Torm (TRMD).Although it may seem a bit dated since this interview was conducted about two months ago, very little has changed in the crude tanker markets since we last chatted, so the content should be useful for all investors interested in Euronav or the overall sector. It's worth noting that the emergence of the Delta variant has effectively pushed back the crude tanker recovery scenario by at least 2-3 months so far, so even though the big picture situation is similar, the turnaround timing has been pushed back a bit further.Euronav is set to report Q2-21 results on Thursday, Aug. 12, with a conference call at 0800 EST. This interview should act as a useful primer before these results.Topics Covered(2:00) Current state of the crude tanker market? Past the bottom yet?(5:00) Impact of Iran sanctions coming off soon?(9:00) Any concerns about the current tanker orderbook?(13:45) How do current environmental proposals impact EURN?(19:45) Economics of investing in environmentally friendly upgrades?(24:00) Are scrubber retrofits attractive here with larger spreads?(25:45) Environmental impact from copper-oxide hull paints?(27:30) Will 2023 EEXI impact EURN? Risks of divesting older ships?(33:45) Any risk of exposure to future ‘green recycling’ requirements?(36:30) What are Euronav’s current capital allocation priorities?(41:30) Any plan to address adverse tax-withholding from dividends?(44:45) Update on ULCC assets?(47:00) Commentary on FSO JV? Any divestment potential?(50:30) Why invest in EURN versus peers? Differentiation?Learn more about your ad choices. Visit megaphone.fm/adchoices

Constantin Baack, CEO of MPC Containers (OTCPK:MPZZF), a leading small-sized containership lessor, joined J Mintzmyer's Value Investor's Edge Live in June 2021 to discuss the surging containership markets and company strategy to benefit from these elevated market levels.Although MPCC is not currently listed in the US markets, there's sufficient trading liquidity on the Oslo Exchange under the stock symbol "MPCC" and they're considering a potential US-listing if market conditions remain favorable and their market capitalization exceeds $1B.For more particular information on MPC Containers, I highly recommend reviewing their latest investor presentation, which was updated on June 22. MPCC is set to publish Q2-21 earnings results on Aug. 19.For readers and listeners primarily interested in US-listed names, the primary comps include Atlas Corp. (ATCO), Costamare (CMRE), Danaos Corp (DAC), Euroseas (ESEA), Global Ship Lease (GSL), and Navios Maritime Partners (NMM). Included market content should be relevant for investors in all of these names.Topics Covered(1:45) What is primarily driving the market strength? How long can it last?(4:15) What are the primary risks for investors to watch?(10:45) How large is the discount for 2-3 year charters versus 1y quotes?(12:45) The Harpex index is due for a massive upward revision?!(15:15) How far in advance are you fixing your vessels?(18:00) Are there any opportunities to acquire more secondhand tonnage?(21:00) Any clear negatives to recent containership transactions?(23:45) Plans for a dividend? Expected timeline for first payout?(26:15) Current economics for newbuild tonnage for feeders/midsize?(30:30) Upcoming impact from 2023 EEXI and/or bunker fuel tax?(34:30) Any impact/concern due to the increased focus on ‘green recycling?’(37:15) Current economics from scrubbers? Any plans to add more?(41:15) What differentiates MPCC? Why choose this stock over others?(44:00) Future plans for a US listing?Learn more about your ad choices. Visit megaphone.fm/adchoices

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Ted Young, CFO of Dorian LPG (LPG), joined J Mintzmyer's Value Investor's Edge Live on June 11, 2021, to discuss the LPG shipping markets and specific company prospects and capital allocation potentials. This interview and discussion is relevant for anyone with LPG sector investments, including Avance Gas (OTCPK:AVACF), BW LPG (OTCPK:BWLLF), Navigator Holdings (NVGS), and Stealth Gas (GASS).Topics Covered(1:45) Overview of the current and mid-term LPG markets.(7:00) Any concern about the increasing VLGC orderbook?(9:45) Discussion about impending environmental regulations.(11:15) Interest in LPG dual-fuel retrofits? Economics?(15:30) Are rising steel prices impacting newbuild costs?(19:30) Will US LPG production, inventory, and export levels improve?(22:30) Update on scrubber program economics.(24:15) Are you interested in divesting the oldest 3 vessels?(26:45) Views on target leverage and minimum cash balance?(30:15) Appetite for more repurchases? Tender offer?(31:30) Any concern about share liquidity?(34:45) Potential for a new repurchase authorization?(35:45) Any additional impact from EEXI or other initiatives?(40:30) Any impact from the removal of Iran sanctions?(42:30) Impact from more OPEC oil and NGL exports?(45:00) Potential for a dividend? Structure? Special vs. regular?(49:15) Why choose Dorian over other VLGC peers?Learn more about your ad choices. Visit megaphone.fm/adchoices

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John Wobbensmith, CEO of Genco Shipping (GNK), a dry bulk shipping company, joined J Mintzmyer's Value Investor's Edge Live on 25 June 2021 to discuss the strong market outlook and company specific plans for capital allocation and shareholder returns.GNK is benefiting from surging rates and is expected to report a strong Q2 earnings report followed by an even stronger showing in Q3. Although market conditions can change and dry bulk is notoriously volatile, the supply side is the most bullish we have seen in 20-plus years and the signals from demand are also encouraging, particularly in the midsize and smaller segments, which are reviewed in detail in this update.Perhaps of most interest to shareholders is Genco's plan to begin massive dividend payouts once target leverage is achieved. GNK's officially stated plan is to begin these large payouts after Q4-2021 results (i.e. in early-2022). However, market conditions have been very strong, so there's a potential for GNK to start to move even faster. With current market rates and GNK's stated dividend policy, we could theoretically see yields of 30% or higher against current share prices.This interview contains relevant insights for investors in all other dry bulk companies, including 2020 Bulkers (Oslo: 2020), Diana Shipping (DSX), Eagle Bulk (EGLE), Eurodry (EDRY), Golden Ocean (GOGL), Grindrod Shipping (GRIN), Navios Partners (NMM), Pangaea Logistics (PANL), Safe Bulkers (SB), Seanergy Maritime (SHIP), and Star Bulk Carriers (SBLK).Topics Covered(2:00) Dry bulk market overview(8:00) Differences between midsize and Capesize markets?(12:30) Any clear impact from upcoming environmental regulations?(15:45) Views on ammonia or LNG-dual fuel designs?(17:15) Any interest in newbuild assets or resale tonnage?(19:15) Any other growth potential?(22:30) Potential to raise the dividend sooner due to strong markets?(25:15) Dividend structure? Potential to pay even in weak markets?(27:45) Views on low leverage? Optionality to increase it?(30:15) Any desire to add time-charter coverage in this market?(32:00) Review of scrubber program and economics.(34:30) Why choose Genco Shipping (GNK) as the favored dry bulk play?Learn more about your ad choices. Visit megaphone.fm/adchoices

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The CEO and CCO of Global Ship Lease (GSL), Ian Webber and Tom Lister, joined J Mintzmyer's Value Investor's Edge Live on 11 June, 2021, to discuss the containership transport markets and forward opportunities in the markets. We also covered GSL's major acquisition of 12 containerships, which took place in early June. GSL guided for at least $1.09 in annualized EPS contribution from this latest purchase. However, with containership rates continuing to surge, I suspect GSL guided too low on the first deal and I would anticipate a minimum of $1.50 in annualized earnings contribution from those ships once they are fully delivered by the end of Q3 2021.This interview and discussion of the underlying containership markets is relevant for anyone with interest in GSL or in related containership shipping companies, including Atlas Corp (ATCO), Capital Partners (CPLP), Costamare (CMRE), Danaos Corp (DAC), Euroseas (ESEA), Matson (MATX), MPC Containers (OTCPK:MPZZF), Navios Partners (NMM), SFL Corp (SFL), and Zim Integrated Shipping (ZIM).Surging Containership RatesContainership leasing rates have been on a surge over the past year and we have seen subsequent all-time record highs set for each of the past six weeks. The latest Harpex Index is shown below, which reflects the benchmark rates for one-year charters:Source: Harper Petersen, Harpex Index, 5-Year ChartMassive Earnings Growth, Stock Stuck in Neutral?Subsequent to this interview (which was conducted on 11 June), Global Ship Lease announced yet another vessel acquisition deal on 16 June, which added four more vessels to their fleet. GSL anticipates the four latest ships will add an additional $0.88 in annual EPS, which is in addition to the $1.09 they guided from the first major acquisition in early June (but I expect closer to $1.50 contribution). Altogether, these latest two deals in June alone should add up to $2.40/sh in annualized earnings potential on top of GSL's organic fleet contribution levels.However, despite this fleet and earnings growth, GSL stock has been stuck in neutral over the past six months, up just 15% since January and down more than 20% from peaks in mid-June. This may present a phenomenal opportunity for investors who are interested in this sector, but either way, I hope the interview will help add additional color about this firm. Source: Google Finance, GSL 6-month chart, 8 July 2021Topics Covered(2:00) What is driving the surge in rates, how sustainable are they?(6:30) What charter durations are preferable? Discount rates?(9:00) Any potential for forward fixtures into 2022?(12:30) What assumptions play into the economics of the new purchase?(18:45) Target leverage for the latest acquisition?(20:45) Any appetite for further vessel acquisition deals?(24:00) Not many public company buyers… Private asset buyers?(26:30) Split between charter-free values and charter discounts?(30:15) Economic tradeoff between secondhand and newbuilds?(33:00) Do smaller and midsize ships play a viable role in the future?(38:15) Will environmental regulations threaten middleaged tonnage?(47:45) What is your target balance sheet leverage?(51:00) GSL has a higher average cost of debt: savings potential?(55:30) Any appetite for more preferred equity?Learn more about your ad choices. Visit megaphone.fm/adchoices

Gary Vogel, CEO of Eagle Bulk Shipping (EGLE), a dry bulk shipping company focused on the mid-sized segments, joined J Mintzmyer's Value Investor's Edge Live on 9 June 2021 to discuss the rapidly improving market outlook and company specific plans.EGLE is benefiting from surging rates and is expected to report a blow out Q2 earnings report followed by an even stronger showing in Q3. Although market conditions can change and dry bulk is notoriously volatile, the supply side is the most bullish we have seen in 20+ years and the signals from demand are also encouraging. Gary talks through the markets in our interview as well as about capital allocation specifics and strategy for Eagle Bulk in particular. This interview contains relevant insights for investors in all other dry bulk companies, including: 2020 Bulkers (Oslo: 2020), Diana Shipping (DSX), Eagle Bulk (EGLE), Eurodry (EDRY) Genco Shipping (GNK), Golden Ocean (GOGL), Grindrod Shipping (GRIN), Navios Partners (NMM), Pangaea Logistics (PANL), Safe Bulkers (SB), Seanergy Maritime (SHIP), and Star Bulk Carriers (SBLK).Topics Covered(0:00) Introductions and disclosures(1:40) What is driving the steady strength in midsize dry bulk markets?(4:15) What is the impact of the Australia-China coal shifts?(5:30) Why are Capesizes far more volatile at this time?(7:15) Why are 2022 FFAs still considerably below current market levels?(9:30) Any activity or inquiries in the longer-term charter market?(12:15) Discussion on rate hedging via derivatives.(13:45) Capital allocation priorities? Target leverage?(16:30) Commentary on ATM facility? Usage here?(19:00) Potential for a dividend policy/program?(21:00) Improving share liquidity? Lack of options trading?(23:00) Potential for further sector consolidation?(24:45) Impact from EEXI or tonnage tax?(28:30) Current scrubber spreads? Plans to hedge savings?(32:00) Discussion on proper benchmark for rates.(34:15) What are the major risk factors at this point?(38:30) When are potential newbuild yard slots available?(40:30) Any desire to lock in 1-year rates yet?(42:30) Why choose to invest in EGLE vs. peers?Learn more about your ad choices. Visit megaphone.fm/adchoices

In this special edition of the Marketplace Roundtable, Daniel Shvartsman interviews J Mintzmyer, Head of Research at Value Investor's Edge. J reviews the containership sector, the latest market conditions, and outlines the bullish thesis in the containership sector. The discussion reviews sector dynamics along with several top picks in the sector. The shipping sector is off to a very strong start in 2021, with YTD model portfolio returns of 136.6% (Speculative Plays) and 69.4% (Best Risk/Reward) on J's exclusive research platform: Value Investor's Edge.Topics Covered2:30 – Catching up on the containership market5:30 – The myths around containerships10:00 – The impact of the underlying ZIM stake on Danaos Corp (DAC)12:00 – Supply chain gives and takes for the containership sector17:30 – Not anchoring on the price19:00 - Why containership stocks don’t directly follow rates22:30 – Interest rate risk and inflation risk for containership lessors26:30 – Valuing these companies given the cyclical nature of the business32:00 – Favorite names for investors and traders35:00 – Bear case scenarios for containerships37:30 – Broad review of other shipping segmentsLearn more about your ad choices. Visit megaphone.fm/adchoices

Lois Zabrocky and Jeff Pribor, CEO and CFO of International Seaways (INSW), joined J Mintzmyer's Value Investor's Edge Live on June 11, 2021, to discuss the crude and product tanker markets and forward prospects. We also reviewed company-specific plans and capital allocation priorities after they complete the merger with Diamond S Shipping (DSSI). International Seaways will then become one of the largest publicly-traded tanker companies and is poised to increase repurchases as part of a balanced capital allocation program. INSW is also preparing a $1.10/sh special dividend as part of their merger program. This interview and discussion is relevant for anyone with crude or product tanker investments, including Ardmore Shipping (ASC), DHT Holdings (DHT), Euronav (EURN), Frontline (FRO), Hafnia Tankers (Oslo: HAFNI), Navios Acquisition (NNA), Nordic American Tankers (NAT), Pyxis Tankers (PXS), Scorpio Tankers (STNG), Teekay Tankers (TNK), Torm Plc (TRMD), Tsakos Energy Navigation (TNP), or Okeanis Eco Tankers (Oslo: OET). Topics Covered(0:00) Intros/Disclosures(2:00) Crude tanker market update, are we past the worst?(6:00) Outlook for product tanker market vs. crude?(10:30) Potential impact from EEXI and/or bunker tax proposals?(14:00) Any risks from ‘green recycling’ requirements?(19:00) Overall commentary on DSSI merger.(21:15) Why does INSW trade at a massive discount to peers?(26:45) Potential for repurchase after the DSSI merger closes?(30:15) Potential for a tender offer?(32:00) Commentary on future dividend potential/plans?(34:45) Plans/potential for the FSO joint-venture?(40:30) Review of the dual-fuel LNG economics.(49:00) Why buy INSW vs. other tanker peers?Learn more about your ad choices. Visit megaphone.fm/adchoices

Hamish Norton, President of Star Bulk Carriers (SBLK), Co-CFOs Christos Begleris and Simos Spyrou, and SBLK Head of Research Constantinos Simantiras joined J Mintzmyer's Value Investor's Edge Live on June 8, 2021, to discuss the dry bulk markets and forward prospects and capital allocation. Star Bulk Carriers is the largest US-listed dry bulk company with 128 vessels on the water. With rates surging, SBLK is focused on the '2 Ds' of dividends and deleveraging. We expect to see substantial payouts throughout there year. This interview and discussion is relevant for anyone with dry bulk investments or interest in the overall sector, including Diana Shipping (DSX), Eagle Bulk (EGLE), Eurobulk (EDRY), Genco Shipping (GNK), Grindrod Shipping (GRIN), Golden Ocean (GOGL), Navios Maritime (NM), Navios Maritime Partners (NMM), Pangea Logistics (PANL), Safe Bulkers (SB), Scorpio Bulkers (SALT), and Seanergy Maritime (SHIP).Topics Covered(

The launch of the ARK Space Exploration ETF (ARKX) in late March was one of the most hyped ETF launches in recent memory. Of course there's the Cathie Wood component to the excitement, with the fund manager she runs, ARK, crushing markets and growing AUM eleven-fold in 2020. But there's something about space as a sector that has many investors particularly excited at this moment in time.Cestrian Capital Research's Alex King has been following the space sector very closely for years now, He even enrolled at the Space University, completing his executive education there in 2018. The following year, he launched his Seeking Alpha Marketplace service, The Fundamentals, with a focus on space and cloud computing names. We cover the space sector from top to bottom in this episode of The Marketplace Roundtable Podcast. Show Notes3:00 - Alex's general approach to investing7:45 - Why the space sector?13:15 - Why is space a theme investors should be paying attention to at the current moment in time?17:00 - Cathie Wood and ARK's investing style22:00 - ARKX Under the Hood: Too much concentration in the top holdings?24:30 - Analyzing top holding Trimble (TRMB)28:45 - A head to head comparison: The ARK Space Exploration ETF (ARKX) vs. the Procure Space ETF (UFO)Learn more about your ad choices. Visit megaphone.fm/adchoices

Accelerate Funds' Julian "The SPAC King" Klymochko join's Margin of Safety Investing's Kirk Spano to talk all things SPAC.Learn more about your ad choices. Visit megaphone.fm/adchoices

2020 was the year of the SPAC, with money raised through "blank check" companies outpacing traditional IPOs for the first time. With so many SPACs listing, finding the right ones to invest in them can be an often-times confusing and overwhelming process. Sifting the World's Chris DeMuth Jr. has been investing in SPACs, through the hedge fund he founded, Rangeley Capital, for more than a decade. In the latest episode of The Marketplace Roundtable Podcast, DeMuth and host Jonathan Liss take investors through the SPAC "alphabet", going under the hood of each of the three currently available SPAC ETFs. Chris also discusses his favorite individual SPAC. Show Notes3:00 - What are SPACs and why are they so hot right now?10:00 - Chris' early and ongoing involvement with SPACs12:30 - Specifics of the SPAC structure16:45 - The case of DraftKings, the third most successful SPAC listing of all time26:30 - Chris' favorite SPAC ETF43:45 - What's an individual SPAC Chris is currently excited about?50:00 - Sifting the World: Chris' investing processLearn more about your ad choices. Visit megaphone.fm/adchoices

Cambria Funds co-founder, CEO and CIO Meb Faber joins Margin of Safety Investing's Kirk Spano to discuss his firm's tail risk and shareholder yield ETF suites. Funds covered include: TAIL, FAIL, SYLD, FYLD and EYLD. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this inaugural episode of “Investing 2020s”, host and analyst Kirk Spano interviews Matt Tuttle, the manager of the SPAC & New Issue ETF (SPCX). This is a timely episode as it covers the red hot SPAC market segment and identifies a low risk, high potential reward way to use SPACs to your advantage.Kirk and Matt discuss how SPACs near IPO prices offer rare asymmetric investment opportunity of large potential upside with limited risk as SPACs are backed by a cash trust. Along the way, they also touch on hot markets, Reddit investors and an option trading idea. Of interest to smart investors is the segment on how family offices and institutions are using the SPAC & New Issue ETF as an alternative asset sleeve to manage market correlation. They conclude discussing the ETF with how you can use this ETF in your asset allocation. This medium form (20-30 minutes) interview ends with a discussion of macro tail risk and a coming ETF that offers a potential solution to that portfolio asset allocation issue. To read more about the SPAC & New Issue ETF visit their website and follow Kirk Spano’s articles.Learn more about your ad choices. Visit megaphone.fm/adchoices

CEO Martyn Wade and CFO Stephen Griffiths of Grindrod Shipping (GRIN), a dry bulk shipping company focused on the small and mid-sized segments, joined J Mintzmyer's Value Investor's Edge Live on 4 March 2021 to discuss the rapidly improving market outlook and company specific plans.GRIN is significantly benefiting from surging rates and should see a very strong first half of 2021 with hopeful follow-through in subsequent reporting periods. Dry bulk overall has been in a broad bear market since 2011 and there are many signs of green shoots as worldwide demand improves while the supply via new orders remains near record lows.Although GRIN is a smaller company, this interview contains relevant insights for investors in all other dry bulk companies, including: Diana Shipping (DSX), Eagle Bulk (EGLE), Genco Shipping (GNK), Golden Ocean (GOGL), Navios Partners (NMM), Safe Bulkers (SB), and Star Bulk Carriers (SBLK).Topics Covered(

Constantin Baack, CEO of MPC Containers (OTCPK:MPZZF), a leading small-sized containership lessor, joined J Mintzmyer's Value Investor's Edge Live on 9 February 2021 to discuss this segment of the surging containership markets.MPCC is one of our current top picks at Value Investor's Edge, and is significantly benefiting from surging rates. Although it's not currently listed in the US markets, there's sufficient trading liquidity on the Oslo Exchange ("MPCC") and they are considering a potential US-listing if market conditions remain favorable throughout the year.For more particular information on MPC Containers, I highly recommend reviewing their latest earnings presentation, which was published on 25 February. Their full Q4-20 financial report is also linked.For readers and listeners primarily interested in US-listed names, the primary comps include: Atlas Corp. (ATCO), Capital Product Partners (CPLP), Costamare (CMRE), Euroseas (ESEA), Global Ship Lease (GSL), Navios Maritime Containers (NMCI), Navios Maritime Partners (NMM), and SFL Corp. (SFL). The content from this interview should be relevant for investors in all of these names.Topics Covered(

In this special iteration of the Marketplace Roundtable, Daniel Shvartsman interviews J Mintzmyer, Head of Research at Value Investor's Edge. J reviews the current shipping market conditions and outlines the bullish thesis in the containership sector. Several top picks in the sector are reviewed along with a macro overview for 2021.Show Notes2:30 – The different sectors of shipping4:00 -  The containership thesis/trade6:30 – The core drivers for the containership sector9:30 – The port clogging issue in containerships13:00 – How long can this run last?17:30 – Breaking down the economics and key variables19:00 – Why is this not just a repeat of the tankers story?21:30 – How these rates fit into historical cycles24:15 – What do costs look like for container leasers26:00 – What about a COVID hangover as spending shifts to experiences and away from goods28:30 – J’s favorite sector picks: DAC, NMCI, ATCO31:30 – SA PRO: Diving into the ZIM long case35:00 – Catching up on Value Investor’s Edge39:45 – Importance of diversification in the shipping sector and managing volatilityLearn more about your ad choices. Visit megaphone.fm/adchoices

After 15 years as an analyst at top financial institutions, Dan Victor stepped out on his own in 2018 as an independent investor and market strategist. The result is his increasingly popular Seeking Alpha handle, BOOX Research, where he combines a data-driven, fundamentals-first approach to offer nearly daily stock and ETF ideas, as well as his Seeking Alpha Marketplace service, Conviction Dossier. In today's podcast, we stress test three of his' top ETF picks for 2021: Emerging Markets (IEMG), shorting the long-end of the Treasury yield curve (TBF) and international dividend growth (VIGI).Show Notes2:15 - BOOX Research's back-story3:15 - What does it take for an investor to be sufficiently diversified?8:15 - Process for finding new investing ideas9:45 - Top ETF picks for 2021: 1) iShares Core MSCI Emerging Markets ETF (IEMG)13:15 - After a decade of underperformance, what's the long case of emerging markets right now?16:00 - Why IEMG over other comparable ETFs like (EEM), (VWO) and (SCHE)?23:45 - Top ETF picks for 2021: 2) ProShares Short 20+ Year Treasury ETF (TBF)34:15 - Top ETF picks for 2021: 3) Vanguard International Dividend Appreciation ETF (VIGI)39:30 - Would you recommend the US-focused version of VIGI, (VIG)?Learn more about your ad choices. Visit megaphone.fm/adchoices

Evangelos Chatzis, CFO of Danaos Corp. (DAC), a major containership lessor, joined J Mintzmyer's Value Investor's Edge Liveon Nov. 12, 2020, to discuss the containership markets and forward free cash flow potential.Danaos was a top pick at the time at Value Investor's Edge and traded at a more than 50% discount to net asset value even as underlying market conditions were surging. We had allocated shares to this position at $5.05 in early-September, making DAC a potential 6-bagger as of the 2nd week of January (6x in 4 months). Admittedly DAC outperformed even our wildest expectations and our current 'fair value estimate' is $25/sh. Show Notes(

Paul Tivnan, CFO of Ardmore Shipping (ASC), a leading product tanker shipping company, joined J Mintzmyer's Value Investor's Edge Live on Nov. 17, 2020, to discuss the product tanker markets and forward capital allocation priorities. Ardmore trades at a nearly 50% discount to net asset value, so their repurchase program is of particular interest. This interview and discussion of the underlying product markets is relevant for anyone with tanker investments or interests, including Diamond S (DSSI), DHT Holdings (DHT), Euronav (EURN), Frontline (FRO), International Seaways (INSW), Navios Acquisition (NNA), Nordic American Tankers (NAT), Scorpio Tankers (STNG), Teekay Tankers (TNK), Torm (TRMD), and Tsakos Energy Navigation (TNP).Topics Covered(

The full management team of Global Ship Lease (GSL), a leading containership company, joined J Mintzmyer's Value Investor's Edge Live on Nov. 12, 2020, to discuss the containership transport markets and forward opportunities and refinancing prospects into 2021. We were joined by Executive Chairman George Youroukos, CEO Ian Weber, CFO Tassos Psaropoulos, and CCO Thomas Lister. This interview and discussion of the underlying containership markets is relevant for anyone with interest in GSL or in related containership shipping companies, including Atlas Corp (ATCO), Capital Partners (CPLP), Costamare (CMRE), Danaos Corp (DAC), Euroseas (ESEA), Matson (MATX), MPC Containers (MPZZF), Navios Containers (NMCI), Navios Partners (NMM), and SFL Corp (SFL).Topics Covered(

Oystein Kalleklev, CEO of Flex LNG (FLNG), a leading ultramodern LNG shipping company, joined J Mintzmyer's Value Investor's Edge Live on Nov. 24, 2020, to discuss the LNG shipping markets and forward opportunities and capital allocation priorities for Flex LNG. This interview and discussion of the underlying LNG global markets is relevant for anyone with LNG shipping or LNG export infrastructure investments, including Cheniere (LNG), Cheniere Partners (CQP), GasLog (GLOG), GasLog Partners (GLOP), Golar LNG (GLNG), Golar LNG Partners (GMLP), Hoegh LNG Partners (HMLP), Teekay LNG Partners (TGP), and Tellurian (TELL).Topics Covered(

Mark Kremin and Scott Gayton, CEO and CFO of Teekay LNG Partners (TGP) a leading LNG shipping company, joined J Mintzmyer's Value Investor's Edge Live on Nov. 13, 2020, to discuss the LNG shipping markets and forward opportunities and capital allocation priorities for Teekay. This interview and discussion of the underlying LNG global markets is relevant for anyone with LNG shipping or LNG export infrastructure investments, including Cheniere (LNG), Cheniere Partners (CQP), Flex LNG (FLNG), GasLog (GLOG), GasLog Partners (GLOP), Golar LNG (GLNG), Golar LNG Partners (GMLP), Hoegh LNG Partners (HMLP), and Tellurian (TELL). Topics Covered(

Hamish Norton, President of Star Bulk Carriers (SBLK), Co-CFOs Christos Begleris and Simos Spyrou, and SBLK Head of Research Constantinos Simantiras joined J Mintzmyer's Value Investor's Edge Live on Nov. 19, 2020, to discuss the dry bulk markets and forward prospects and capital allocation priorities into 2021. Star Bulk Carriers is the largest US-listed dry bulk company with 116 vessels on the water.This interview and discussion is relevant for anyone with dry bulk investments or interest in the overall sector, including Diana Shipping (DSX), Eagle Bulk (EGLE), Genco Shipping (GNK), Golden Ocean (GOGL), Navios Maritime (NM), Navios Maritime Partners (NMM), Safe Bulkers (SB), Scorpio Bulkers (SALT), and Seanergy Maritime (SHIP).Topics Covered(

Hugo De Stoop, CEO of Euronav (EURN), a leading crude tanker company, joined J Mintzmyer's Value Investor's Edge Live on Nov. 10, 2020, to discuss the crude tanker markets and forward opportunities and capital allocation priorities for Euronav. This interview and discussion is relevant for anyone with crude tanker or product tanker investments, including Ardmore Shipping (ASC), Diamond S Shipping (DSSI), DHT Holdings (DHT), Frontline (FRO), International Seaways (INSW), Navios Maritime Acquisition (NNA), Nordic American Tankers (NAT), Scorpio Tankers (STNG), Teekay Tankers (TNK), Tsakos Energy Navigation (TNP) and Torm (TRMD).Topics Covered(1:30) Latest market views, signs of optimism?(5:40) Demolition dynamics? Chance of increased scrapping?(8:50) Older vessels still selling? Economics of trading?(12:20) Reduced scrapping due to over-optimism?(17:30) Capital allocation priorities now?(21:30) Internal calculations/logic for share repurchases vs. growth?(24:30) Review of ULCCs and older Suezmaxes?(29:50) FSO joint venture, economics and refinancing?(35:40) Which assets are most attractive to buy today?(38:10) How much of the $1.2B is required buffer?Learn more about your ad choices. Visit megaphone.fm/adchoices

Greg Zikos, CFO of Costamare (CMRE), joined J Mintzmyer's Value Investor's Edge Live on Nov. 4, 2020, to discuss the containership markets and forward opportunities and capital allocation priorities for Costamare. This interview and discussion is relevant for anyone with containership sector or box lessor investments, including Atlas Corp (ATCO), CAI Intl (CAI), Capital Partners (CPLP), Danaos Corp (DAC), Global Ship Lease (GSL), Matson (MATX), Navios Containers (NMCI), Navios Partners (NMM), Textainer (TGH), and Triton (TRTN).Topics Covered(1:20) What's driving the strength in containership rates(4:20) How much strength is related to disruptions vs. demand growth?(8:30) Review of current rates, CMRE exposure to uplift?(12:40) How far in advance can charter deals be locked in?(14:10) Commentary on the secondhand market? Depressed values?(16:50) Are there buying opportunities in the secondhand market?(17:50) Is there meaningful interest in newbuilds with fixed charters?(20:25) Commentary on preferred equity? Repurchase or call back?(24:10) Dividend commentary, potential for a raise in the near-term?(27:20) How are rates performing for the larger ships vs. midsized?(31:00) Can you submit a new presentation/disclosure in December?Learn more about your ad choices. Visit megaphone.fm/adchoices

Michael Boyd, Head of Research at Energy Income Authority, joined J Mintzmyer's Value Investor's Edge Live on November 6, 2020, to discuss the post-election energy market prospects and opportunities into 2021 and beyond. This interview and discussion is relevant for anyone with interest in the broad energy sectors, including the overall SPDR Energy ETF (XLE) and income-focused funds such as the Alerian (AMLP). Specifically in this interview, we discuss several individual names including Altus Midstream (ALTM), Calumet Specialty Products (CLMT), Cimarex Energy (XEC), DCP Midstream (DCP), Diamondback Energy (FANG), Energy Transfer (ET), ExxonMobil (XOM), Plains All American (PAA), RPC Inc (RES), Schlumberger (SLB), and Targa Resources (TRGP).Topics Covered(

Value Investor's Edge Live returns with this latest episode focused on the liquid petroleum gas (LPG) sector of the shipping industry. Ted Young, CFO, and John Lycouris, CEO of Dorian LPG USA, discuss the LPG shipping industry, their company outlook, and capital allocation priorities. Dorian has been enjoying a strong run in rates and is in the midst of a $50M repurchase program, but the stock hasn't responded much yet.Learn more about your ad choices. Visit megaphone.fm/adchoices

On the latest episode of the Marketplace Roundtable Podcast, long-time contributor to Seeking Alpha, Chaim Siegel, aka Elazar Advisors, takes listeners through his unique bottom-up approach of stock picking in the tech space. Before setting out on his own and launching his Nail Tech Earnings investing service, Chaim spent years honing his craft, working directly with Steve Cohen as an analyst at SAC Capital as well as serving as a portfolio manager at Morgan Stanley and JLF Asset Management. His proprietary tech sector earnings estimates - available to subscribers of Nail Tech Earnings - are included in consensus Thomson Reuters and FactSet earnings estimates.Chaim believes that based on his current growth projections for his favorite tech names, investors should continue overweighting the sector despite what appear to be frothy valuations on a historical basis.Show notes:3:00 - Chaim's unique investing backstory9:15 - Chaim's proprietary earnings models: How does he arrive at his projections15:00 - 2 top tech sector ETFs go head to head: The Invesco QQQ ETF (QQQ) vs. The Technology Select Sector SPDR ETF (XLK)21:15 - Hedging tech sector downside via ETFs: Shorting outright vs. inverse leveraged ETFs vs. ETF options25:45 - Using momentum/trend following as a secondary decision-making factor32:00 - Bottom-up analysis of top picks: Why Tesla (TSLA) and Zoom's (ZM) current valuations are besides the point45:30 - Are we in a tech bubble? Why the current period is not a late 90's reduxLearn more about your ad choices. Visit megaphone.fm/adchoices

2020 has already seen the quickest bear market sell-off and counter-rally in history. With one of the most consequential elections in U.S. history just six weeks away and another virus wave likely this fall, volatility will remain the key investing story in 2020. So much fear and greed can make even the most seasoned investor abandon well thought out plans, leading to potentially catastrophic results to their portfolio's bottom line. EPB Macro Research's Eric Basmajian rejoins the podcast to walk listeners through his unique approach to portfolio construction, which blends mean-variance analysis and his own financial forecasting models to produce risk-adjusted outperformance.Show Notes4:00 - 2020 has been a crazy year for markets - and it's not even over7:30 - What is Modern Portfolio Theory - and why does it work?12:30 - Balancing risk through mean variance analysis17:30 - Eric's approach to portfolio construction within EPB Macro Research23:00 - Frequency of portfolio rebalancing29:45 - Current valuations and future expected returns in asset class allocations and position sizing 33:30 - How overvalued are equities right now?37:30 - Valuations continued: U.S. vs. Foreign equities42:30 - Expected bond returns in a flat yield curve environment56:00 - Disconnect between Wall Street and Main Street: How efficient are markets?62:00 - Too much debt is bad for future growth72:00 - Labor force vs. productivity growth76:00 - Given the current interest rate environment, how does one get a real rate of return in bonds?Learn more about your ad choices. Visit megaphone.fm/adchoices

With his ATAC Rotation Fund (ATACX) up 58% YTD, Michael Gayed explains how he uses historically proven leading indicators of volatility to generate outsized returns. ATAC Rotation employs a tactical risk-on, risk-off strategy that alternates weekly between a mix of stock and bond ETFs based on projections of short-term volatility. When not managing ATACX, Gayed runs The Lead-Lag Report at The Seeking Alpha Marketplace. Subscribers to The Lead-Lag Report receive daily detailed risk analysis reports that utilize the same proprietary data models Gayed uses to position ATAC Rotation, alongside tactical investment opportunities. With the VIX jumping from 22 to 32 in a little over a week and markets flailing, investors would do well to heed Gayed's central message: Ignore gathering storm clouds at your own peril.Show Notes3:30 - How does the strategy underlying the ATAC Rotation Fund work and how did Michael come up with it?10:45 - What has driven the impressive returns so far in 2020?20:00 - Effect of the COVID-19 pandemic on investor sentiment23:00 - The 2020 effect: Making sense of one of the craziest years for investors in recent memory29:00 - Diagnosing the problem: The disease plaguing American capitalism?41:00 - Fund basics: Why hold 4 different small-cap ETFs? What does the ETF selection process look like?48:30 - 2,000% turnover: How do you tax manage a fund like this?53:00 - The Lead-Lag Report: Michael's outlook for equities?55:00 - Dos and Don'ts of the ETF screening processLearn more about your ad choices. Visit megaphone.fm/adchoices

We speak with Beth Kindig and Knox Ridley of Tech Insider Research about Zoom's ascent and why there's still more to come from the shift to the cloud.Learn more about your ad choices. Visit megaphone.fm/adchoices

The Stock Waves team - Lyn Alden Schwartzer, Zachary Mannes, and Garret Patten - takes us through why they think the market will be higher in the next 3-5 years, and some ideas they like even as a correction beckons.Learn more about your ad choices. Visit megaphone.fm/adchoices

Laura Starks joins us to talk about signs of life in the energy sector (1:00-26:00 minute mark), while Mark Hibben shares a note of caution for tech (26:30-57:00).Learn more about your ad choices. Visit megaphone.fm/adchoices

After 20 years working exclusively with institutional clients and trading virtually every asset class imaginable, James Kostohryz is determined to share his recipe for success with retail investors. Combining fundamental and technical analysis in surprising ways, James remains bearish on the outlook for stocks - while acknowledging that current momentum dictates a more balanced approach in the shorter-term. He joins The Marketplace Roundtable to explain the fundamental, technical and behavioral edge he attempts to give members of his investing service, Successful Portfolio Strategy.Show Notes3:00 - After two decades working exclusively with institutions, why did James decide to create an investing service for retail investors?7:30 - Is there a difference in temperament with institutional vs retail investors? 10:45 - Given the severity of the global economic contraction resulting from COVID-19, how do you make sense of recent extremely bullish market activity?22:00 - What are investors getting wrong when they say this is a "don't fight the Fed" situation?42:00 - How do you use the interplay between fundamental and technical analysis to make better investing decisions?49:30 - How do you determine positions in your portfolios?Learn more about your ad choices. Visit megaphone.fm/adchoices

We speak with two Marketplace authors, both of whom feel the tech sector has more than achieved full value, and that a correction may be in line for the market as a whole soon. First, Michael Kramer of Mott Capital Management, author of Reading the Markets, speaks to us about the need for patience in an increasingly expensive market (1:00 minute mark-28:00). Then, Victor Dergunov points out why he's not crazy with market valuations, but why gold and the mining sector shine brighter (28:15-56:30).Learn more about your ad choices. Visit megaphone.fm/adchoices

Work from home tech plays have mostly been a software story, whether it's SaaS (software as a service) darlings like Zoom (ZM) or content plays like Netflix (NFLX). Momentum investing suggests that a stock that's going up is still a good bet, but it's hard to say that those names don't have significant valuations already.Joe Albano, author of Tech Cache, joined us to speak about the tech sector. While we didn't explicitly target this, we ended up having a discussion about less heralded beneficiaries of the work from home theme. With the increased demand on servers, semiconductor and memory chip suppliers such as Micron (MU) would seem to benefit. Joe also calls out a security play that he thinks is suited for the current environment, especially if the shares pull back a little more.Learn more about your ad choices. Visit megaphone.fm/adchoices

In our first episode this week, we speak with Ruerd Heeg, author of Global Deep Value Stocks, about the current market. He explains why he's pessimistic about the market as a whole, but also which quantitative strategies he's following to build a watch list and find interesting ideas. He shares the markets he most likes in today's climate - Poland and Hong Kong offer bargains - as well as over a dozen statistically cheap stocks in 6 different markets. Find Ruerd's Marketplace service here - https://seekingalpha.com/checkout?service_id=mp_276. Follow Ruerd's free Seeking Alpha content here - https://seekingalpha.com/author/ruerd-heeg#regular_articlesLearn more about your ad choices. Visit megaphone.fm/adchoices

We talk with three Marketplace authors about the oil storage glut and whether this is a sign of end times or just a rut. Kirk Spano of Margin of Safety Investing leads off (from the 1:00 minute mark-54:30), followed by Richard Berger of Engineered Income Investing (54:45-1:22:30), and Power Hedge, author of Energy Profits In Dividends, brings us home (1:22:45-1:37:15).Learn more about your ad choices. Visit megaphone.fm/adchoices

With the Fed's balance sheet expanding at an unprecedented rate, inflation concerns have made a comeback among some market watchers on both Wall Street and Main Street. While the monetary supply has increased drastically since the onset of the COVID-19 induced economic crisis, the velocity of money has actually fallen during this period. So what will prevail once the pandemic dust settles - a deflationary or inflationary environment? And how should ETF investors be positioning in the meantime?Macro specialist Eric Basmajian (EPB Macro Research) rejoins The Marketplace Roundtable Podcast and delivers a master class in current monetary policy dynamics - and how investors can stay one step ahead of the curve.Show Notes3:30 - Eric's personal COVID-19 story7:00 - Stock vs. Bonds (SHY): A tale of two markets - Which is right?11:30 - The current environment is a deflationary one - here's why22:30 - Is the US just a generation behind Japan and Europe when it comes to monetary policy and its likely affect on underlying growth?28:30 - Productive vs. Unproductive debt: Prospects for future growth (KRE) (XLF)38:30 - What is the theoretical case for inflation once the dust from COVID-19 settles in a few years?44:15 - What would be the likely outcome if an emerging economy's central bank followed the same playbook as the Fed?47:00 - Positioning portfolios in the current environment  (SPY), (PDBC), (TLT), (IEI), (SHV), (VXUS) 1:00:00 - Would you consider a short position in something like (XLE) or (XOP) given the potential economic downside that still exists in the energy sector?1:07:30 - Are you currently over- or under-weight gold? (GLD)1:13:45 - How about gold miners? (GDX)1:16:00 - How do you make sense of the extreme bullish stock market action of the last month or so? (QQQ) (DIA) (IVV) (VOO) Learn more about your ad choices. Visit megaphone.fm/adchoices

We speak with Bram de Haas about how to watch for downside in this environment, and how to navigate market uncertainty.Learn more about your ad choices. Visit megaphone.fm/adchoices

We talk with three Marketplace authors about how they are addressing dividend stocks and strategies in the current market. Limelight Alpha Management Partners, author of Top Stocks for Tomorrow, speaks from 1:00-22:15 minute mark; Tariq Dennison, author of Long Run Income, joins us from 22:15-56:15; and The Dividend Guy, author of Dividend Growth Rocks, joins us from 56:15-1:21:15.Learn more about your ad choices. Visit megaphone.fm/adchoices

We discuss three different aspects of the fixed income sector - high yield debt, BDCs, and corporate debt - with three Marketplace authors. Jeremy LaKosh joins us from :30 minute mark-24:00, John Yesford, a.k.a. PendragonY, joins from 24:00-49:00, and Donald van Deventer is on from 49:00 - 1:19:00Learn more about your ad choices. Visit megaphone.fm/adchoices

We speak with Joseph L. Shaefer of The Investor's Edge (1:00 minute mark-32:30) and ANG Traders (32:30-56:00) about the current market environment, the effect of stimulus, and where the market might go in the coming months (this may not be the real sign we've turned a corner). Learn more about your ad choices. Visit megaphone.fm/adchoices

We speak with Lawrence Fuller, author of The Portfolio Architect, about how to orient amidst a low visibility market (:30-19:00 minute mark); D.M. Martins Research, author of Storm-Resistant Growth, about where opportunities might be lurking (19:00-42:30); and Michael Gayed about what time frame investors should be considering for this market and the strange disconnect we have (42:30-1:11:00). Learn more about your ad choices. Visit megaphone.fm/adchoices

We speak with Chaim Siegel of Elazar Advisors, LLC, author of Nail Tech Earnings, about how to watch the market's pricing mechanism, as well as the stand-out subsector of video games (1:15 minute mark-22:00); Andres Cardenal, CFA, author of The Data-Driven Investor about how tech deserves its premium and the antifragility of Docusign and Twilio (22:30-49:30); and Michael Wiggins de Oliveira, author of Deep Value Returns, about why he likes Disney and Discovery in the streaming video segment (49:40-1:26:00).Learn more about your ad choices. Visit megaphone.fm/adchoices

With the coronavirus outbreak, the spread of COVID-19, and the serious steps governments are taking around the world to contain it, no sector of the market is being untouched. We've been conducting roundtable discussions on Seeking Alpha and individual interviews with authors to hear how they're dealing with the situation, and are collecting those interviews here.We begin with the real estate investment trust (REIT) sector. We spoke with Dane Bowler on March 27th (1:30 minute mark - 16:30), Julian Lin on March 30th (17:00-33:30), and Brad Thomas on April 2nd (34:00-1:01:00). Each discusses opportunities they are seeing, changes they are making to their strategy, and specific REITs. Learn more about your ad choices. Visit megaphone.fm/adchoices

With markets in sell-off mode the world over and few asset classes spared - Oil is below $35/bbl while the S&P 500 is down more than 6% on the day as I write this on Monday March 9, today's conversation with Macro specialist Eric Basmajian is hugely important. Eric is Head of Macro Research at Pervalle Global, a discretionary hedge fund specializing in global macro driven trades across all major asset classes. He first began contributing to Seeking Alpha in 2017, building up a following of more than 12,000 investors and becoming Seeking Alpha’s top contributor in the Economy vertical through his unparalleled analysis of key macro-economic trends - and his ability to turn this analysis into actionable, top-down portfolio advice.In addition to his role at Pervalle, Eric runs his own Seeking Alpha Marketplace service, EPB Macro Research. In addition to the steady stream of macro analysis subscribers to EPB Macro Research get, they also gain access to EPB’s Model Tactical Asset Allocation and Long-Only Asset Allocation portfolios - 2 low cost, all-ETF portfolios overseen directly by Eric. By combining an asset class mix that includes stocks, bonds, gold and commodities - tilting based on underlying macroeconomic conditions - Eric has created an all-weather portfolio which tamps down risk and volatility while attaining impressive longer term appreciation of capital. And while under normal market conditions that may seem like a less sexy approach, its performance in the current environment makes it all worthwhile. Eric joins the Marketplace Roundtable podcast to talk his book.Show Notes2:30 - How did you get into your "macro" approach?8:15 - The current state of the global economy11:00 - Is the fed funds rate in the right place now?17:45 - Where do you see the consumer in this economy?22:00 - Is the lack of corporate earnings recession a positive?28:00 - Thoughts on tech stocks34:00 - How do you deal a black swan event like the Coronavirus in portfolio management?39:15 - Specific take on the Coronavirus41:15 - How do we deal with underlying economic issues and break the debt cycle?49:15 - Household savings51:00 - Portfolio construction process, baseline allocation58:45 - Are you shifting equity allocations?1:07:45 - Fixed income... only treasuries?1:15:00 - What would it take for you to move to TIPS?1:21:30 - Gold as main commodity exposure1:26:30 - Any attempts to include other asset classes?Learn more about your ad choices. Visit megaphone.fm/adchoices

Steve Wells, aka the Fear & Greed Trader, rejoins the Marketplace Roundtable Podcast to update listeners on his views of markets as reflected in the Savvy Investor service.Recorded during one of last week's days of heavy selling in global equity markets, Wells conceded the coronavirus is "a real event." In general terms though, the market was due for a pullback and Wells is not overly concerned about the big picture. The long-term bullish trend remains intact.The key is for investors not to get overly emotional over short term moves -- and moving averages. Only if the S&P 500 were to approach levels around 2940 would there be reasons for concern. (The low in the S&P was around 2954 on Feb. 28).Wells was on the podcast last summer, where he expressed bullish sentiments especially over Alibaba (BABA), Cisco (CSCO), Google (GOOG, GOOGL), Amazon (AMZN) and others.He's still bullish on technology, health care, consumer discretionary, "and to some degree financials" and provided some favorite ideas for 2020.Contents:2:45 - Catch up on the last 6 months and view on today's market.6:30 - Trend line discussion10:45 - What level are you looking for?17:00 - What concerns do you have regarding the Coronavirus?21:45 - Bullish sectors and stock picks29:30 - When would you look to add to your position in CRM?30:45 - Time to take profits from BABA?Learn more about your ad choices. Visit megaphone.fm/adchoices

Andres Cardenal rejoins the Seeking Alpha Marketplace Roundtable podcast to discuss his investment strategy as featured in the Data Driven Investor research service.Cardenal, who has been investing since 2002, uses a combination of quantitative and qualitative methods. He finds that the quality of a company's management team to be one metric that can be particularly telling. Recently this led him to pen a bullish thesis on Uber (UBER). "Management is explicitly saying that they are accelerating the profitability targets," he says. "I wouldn't be surprised to see the company make big improvements over coming quarters."Cardenal also pays close attention to macro variables. Here he views the environment as relatively benign. China is "a big piece of the puzzle" however. The country was hurt by the trade war last year and is now reeling from the coronavirus. This provides an excuse to the People's Bank of China and other central banks to pump more liquidity into markets. "This could be a game changer, on a number of sectors," says Cardenal.These comments came before the latest sell-off in equity markets, as the podcast was recorded on Feb. 19.Topics Covered:1:45 minute mark - Investing strategy2:45 - Something you've learned over time4:30 - Discussion of bullish call on Uber (UBER)7:00 - How does the current market compare to previous markets and what's something you've learned over the past year?8:45 - How much attention do you pay to macro variables?10:15 - What are you watching at this point?12:00 - Are you concerned about a broader slow down in China?13:00 - Are you looking at any stocks in particular regarding China? (BABA)14:30 - Something that scares you about the markets.16:00 - What will be the effect of negative interest rates?19:30 - What is something that gives you confidence in your approach?20:30 - Favorite ideas25:00 - Discussion of AYXLearn more about your ad choices. Visit megaphone.fm/adchoices

Dane Bowler of the newly launched Retirement Income Solutions joins the Marketplace Roundtable. He shares his investing journey and how it brought him to real estate investment trusts (REITs), as well as some of his favorite ideas in today's market.Topics Covered2:00 minute mark - Talk about your investing goals and style3:30 - Why REITs?5:00 - What's your process for choosing an investment? 6:00 - Lessons learned7:15 - Something new learned in the markets 9:45 - What themes are you paying attention to now in REIT sectors?12:45 - Something that scares you about the market14:30 - Something that gives you confidence in your approach15:30 - Favorite ideas (MPW) (GNL)22:15 - Any bargains in the mall REIT sector?Learn more about your ad choices. Visit megaphone.fm/adchoices

Doron Levin joins the Marketplace Roundtable podcast to discuss his views on the transportation sector and picks for 2020 as featured in his Auto/Mobility Investors research service.Levin is a longtime journalist covering the auto and transportation sector. Based in Detroit, he focuses on the global automobile "plus mobility" industry. This includes not just cars and automotive suppliers, but "the idea that personal transportation is changing its nature." It's not just about car ownership, in fact many people may not even want to own a car at all."We're really moving to an autonomous future where cars I believe will drive themselves and of course all of this will change the investment picture in the automobile and mobility sector," says Levin. This begs the question: How close are we to fully autonomous vehicles? Nobody knows for sure, but advances are being made all the time. Companies to watch are often outside the automobile sector, including Google (GOOG, GOOGL), and Intel (INTC) that recently acquired a company called Mobileye. Many are startups.When it comes to "traditional" auto stocks, Levin likes Hyundai Motor Corp. (HYMLF) and is bearish on Nissan Motor Co. (NSANY).Topics Covered1:45 - Background, specifically regarding the auto sector.5:00 - How close are we to having autonomous vehicles?8:15 - How does this translate into picking stocks in the auto sector?11:45 - The future of individual car ownership16:45 - Short term issues in the auto sector19:15 - What concerns you?21:45 - Something that gives you confidence25:00 - Favorite picks (HYMLF) (INTC) and companies to avoid (NSANY) (RNSDF)Learn more about your ad choices. Visit megaphone.fm/adchoices

Andrew Hecht rejoins the Marketplace Roundtable podcast to discuss his views on the commodity sector and picks for 2020 as featured in the Hecht Commodity Report research service.Hecht is bullish on all commodities. "We're seeing a little bit of a pullback in some of the leading commodities, which I think is a buying opportunity," he says. Asked to name favorites, he identifies precious metals and oil, which "is getting to the point where it's back in the buy zone." Oil equities, too, "offer tremendous value in a market that's almost devoid of value."2020 should be a volatile year: "A nightmare for investors, but a paradise for nimble traders with their fingers on the pulse of markets." To pick spots, Hecht looks at open interest and commitment of trader reports, and technicals such as open interest and volume, among others.The coronavirus is certainly a concern for the short term, especially considering that China is the world's largest purchaser of commodities and primary driver of demand for raw materials. Eventually this could be a buying opportunity for commodity investors as secular Chinese demand is ultimately not going anywhere.Topics Covered:2:30 - Investing strategy3:45 - Favorite commodities5:00 - How do you time long vs short?6:00 - Is the Coronavirus having any impact on your views?9:00 - What's the effect on equities?10:45 - How much diversity is there in commodities?14:00 - What's your background story... how did you get into investing?18:45 - Macro view22:00 - Views on Gold24:00 - Are any currencies immune to devaluation?25:00 - Buying opportunities (FCX) (OIH)29:15 - Positioning portfolio in light of the upcoming electionLearn more about your ad choices. Visit megaphone.fm/adchoices

We share an interview from Alpha Trader with Cody Willard, author of Trading With Cody on the Seeking Alpha Marketplace.The episode begins with a discussion of Tesla (TSLA), and Willard - who was a longtime bear on the company (but never short) - began buying close to last year's lows alongside the introduction of the Model 3. Making him even more bullish was the unveiling of the cybertruck. Willard believes every car on the planet over the next five-to-ten years is going to be using some version of the cybertruck's exoskeleton.It's hard to find hated names in today's one-way stock market, so Willard - strongly bullish long-term - has been doing some trimming around a few long-held positions. "Feet to fire" though, Willard's favorite five stocks are Disney (DIS), Virgin Galactic (SPCE), Spotify (SPOT), Qualcomm (QCOM), and Cisco (CSCO), and Willard spends some time explaining why he's a fan of the companies. Task notes that Cisco kind of deserves the hated name moniker - after all it's down nearly 20% from since mid-summer 2019.It's the truly revolutionary ideas and industries where we can find future 100- or even 1,000-baggers, says Willard, and space exploration has the potential to be the largest such revolution ever. People are spending too much time worrying about what demand might be for Virgin Galactic's $250K space flights, and not nearly enough time appreciating the technologies that will arise from such activity. Publicly-traded pure plays for space are tough to find beyond SPCE, but Willard is also an owner Aerojet Rocketdyne Holdings (AJRD) and Boeing (BA) on the space idea. He's also an investor in privately-help SpaceX (SPACE).Learn more about your ad choices. Visit megaphone.fm/adchoices

Kris joins the podcast to discuss the From Growth to Value research service featuring the Potential Multibaggers.As the name suggests, Kris's research looks at both growth and value, but these lines often blur. The importance for investors is not so much labels but finding a style that one is comfortable with."I was actually more of a value investor at first but I found that it didn't fit my personality," he says. "My strategy is actually based on optimism." People get distracted by bad news and by "everything that could go wrong."Thus the focus on the winners, and finding the "multibagger" that can produce outsized returns over the long term. "If you have even one multibagger in your portfolio, then your portfolio is going to do a lot better than any benchmark."It starts with focusing on the good things, on companies that can grow very quickly. Right now the principle of "unscaling," where services become more individualized, is an emerging trend. This can be seen with a company like Shopify (SHOP), Trade Desk (TTD), or Square (SQ) but also with clothing retailers and drugmakers. Topics Covered2:15 minute mark - What's your investing strategy?10:00 - What's your process for narrowing down the choices?12:30 - Background as an investor and how you started doing this.14:30 - Anything learned over the past year?17:45 - What is something that concerns you about the markets?20:15 - What are you most excited about right now?25:30 - Other companies besides SHOP that are "unscaling".27:45 - Favorite ideas.Learn more about your ad choices. Visit megaphone.fm/adchoices

We feature an episode from The Razor's Edge for this week's Marketplace Roundtable, featuring Marketplace author Akram's Razor as well as Seeking Alpha's Daniel Shvartsman.The market has seemed to be on an up and to the right path, but underneath there's been a surprising amount of churn. Large-cap growth stocks especially have moved suddenly on unclear reasoning, moves that seem skittish amidst a bull market. This may just be a sign of late-cycle behavior, or it may be a source of opportunity for the nimbly patient investor. We discuss several tech stocks and provide examples of what is going on.Topics Covered2:30 minute mark - Setting the scene on this market11:15 - The whiplash effect and how this affects relative valuation13:45 - Is long term investing in trouble?18:00 - ZOOM, WORK, DBX as long-term examples of this phenomenon28:30 - Finding the right pair trade... harder in this market?35:30 - The general risk climate in the market49:30 - Apple (AAPL) and 5G54:45 - Given the issues, how are you going to trade for the year?1:00:30 - Streaming vs. SaaS in terms of valuation1:09:30 - Will there be a rush back into growth stocks in 2020?Learn more about your ad choices. Visit megaphone.fm/adchoices

This week’s episode features a discussion with Michael Gayed, author of the Lead-Lag Report on the Seeking Alpha Marketplace. Michael has been writing on Seeking Alpha since 2007 – a full-cycle contributor, you can say – and has been a regular on CNBC, Real Vision, and other outlets for a long time. Inflation expectations have bottomed out, argues Gayed, and if reflation is the theme going forward, that means good things for some lagging equity sectors - notably financials (XLF), emerging markets ([[EEM]], [[VWO]]), and commodities like energy (XLE). On the flip side, reflation would mean just the opposite not just for bonds (TLT), but for anything yield sensitive - REITs ([[IYR]],[[VNQ]]) come to mind.The government needs inflation, says Gayed, to ease the burden of the many trillions in debt it owes. The Federal Reserve needs it as well, he contends, to allow it the room to raise interest rates from still-extreme low levels that it might have the space to ease during the next downturn.When reading economic tea leaves, sometimes simple is best. The average home contains massive amounts of lumber, says Gayed. Thus lumber prices can be fairly directly connected to expectations for the future of construction and housing. And if you can figure what's going to happen with construction and housing, you've probably got a pretty good idea of what's going to happen with the economy. For the moment, the action in lumber (up big over the last few months) is giving Gayed confidence in his reflation theme.Learn more about your ad choices. Visit megaphone.fm/adchoices

Michael Gettings joins the Marketplace Roundtable Podcast to discuss his investing experience as reflected in his The Easy Vix research service.Gettings developed an algorithm that uses the shape of the VIX futures curve, and the rate of change in the curve, to assess the level of risk in equities markets. The algorithm aims to produce warning signals when risk is emerging, rather than after it has already arrived.The last four months the model has been giving a clear buy signal. More recently, however, "the metrics are tapering down" to right above the bullish threshold, says Gettings. "If I were to see much more deterioration, I would probably call a sell, but it hasn't happened yet."Topics Covered2:15 - Investing strategy3:30 - How did you develop your algorithm?9:00 - What do your models tell us about the present day?12:40 - A lesson you've learned over time14:45 - January sell single.. how bad and when will it turn around?16:45 - What scares you about the market?18:45 - Something that gives you confidence21:15 - Leveraged ETFs... more or less risk?25:00 - Portfolio warning signs/stock picks. (GE) (EW)27:30 - Suggestions for risk protectionLearn more about your ad choices. Visit megaphone.fm/adchoices

William "Travis" Koldus of KCI Research rejoins the Marketplace Roundtable Podcast to discuss his investing experience as reflected in his The Contrarian research service.An investor's formative years tend to have an impact on their investing strategy and Koldus is no different in this regard. He "came up in a value background, when most of the well-known investors were value guys." Value has been out of favor for 12 years and counting, and while Koldus has adapted his approach as markets dictate, he still maintains a value bias -- as well as a natural contrarian streak. "It's always more fun to win as the underdog," he says. "I firmly believe there's a lot of contrarian biases that go into the investing market."Recently, growth and long-duration assets have outperformed, buoyed by the chase for yield that has accompanied record low interest rates. As a contrarian, Koldus maintains an interest "in all the other stuff that haven't gone along with the market." One of these is energy."If you look at the S&P 500, energy is near its 20-year low in terms of weighting." The sector has underperformed since 2011 and this became more pronounced starting in 2014. Oil prices bottomed in 2016 but equities have not followed. "There's a lot of major energy producers that are outside the major indices...that are down 70 or 80% the last couple of years."There is a "rationalization of supply that is going on in the market right now" leaving many energy stocks in a near-perfect position to outperform. "Low prices are the cure for low prices," says Koldus. "If you look below the surface, the realized prices that some of the companies are receiving, particularly for the natural gas liquids...it's forcing a fast rationalization and you seeing that now."Indexing is not the best way to benefit from this dichotomy. "You want to be an active stock picker," says Koldus. "That's where the real opportunity is." Nobody likes natural gas now. Investors could buy a natural gas ETF, but these rarely contain the leading companies in the index. Koldus discusses his ideas for natural gas companies at length in the back end of the podcast.Topics Covered2:00 - Investing strategy3:15 - In what areas of the market are you seeing biases now?5:30 - Is energy ripe for outperformance?7:30 - Divergence between oil prices and energy12:30 - Key lesson learned in general19:00 - Lesson learned this past year20:45 - What's an investor to do now?26:30 - What to look as turning points for the market31:00 - Stock picks... index vs. individual stocks (AR) (AM)40:00 - Environment, natural gas and alternative energyLearn more about your ad choices. Visit megaphone.fm/adchoices

Robert Hauver joins the Marketplace Roundtable Podcast to discuss his investing experience as reflected in the Hidden Dividend Stocks Plus service.Hauver looks for "under-valued, under-covered dividend stocks," mainly by pursuing ideas through macroeconomic or lifestyle trends. This may include "sub sectors or niche industries, such as -- believe it or not -- salmon farming."Indeed, one of his core portfolio positions is Marine Harvest (OTCPK:MHGVY), the world's biggest salmon farmer. "The ongoing healthy eating trend is a boon to salmon farmers," says Hauver. "We're all going to keep eating more fish. That industry has been expanding for years."Patience is a virtue for income investors. It is no longer a game of buying and selling for capital gains, but producing income, which requires a different perspective -- and different rules for success.Topics Covered2:00 - Investing strategy3:15 - How do you research investing ideas?4:00 - Key lesson learned5:00 - Anything specific you learned this year in the markets?6:30 - Sector advice, alternative means to gain income from non-dividend paying companies10:00 - Exciting sectors13:45 - What scares you about the markets right now?16:00 - Something that gives you confidence in your approach17:50 - What data made you look into the salmon thing? (OTCPK:MHGVY)21:45 - Additional favorite ideas? (BANX)Learn more about your ad choices. Visit megaphone.fm/adchoices

Richard Berger joins the Marketplace Roundtable Podcast to discuss his investing experience as reflected in the Engineered Income Investing service. Berger's goal is to produce "a nice, healthy high yield with as low a risk as possible." To do that he first identifies high-quality companies to invest in, such as dividend aristocrats. In the next step he appraises fair value through a variety of tools. Then it's a simple matter of looking at the current market price to determine whether it presents an opportunity to invest. Options strategies provide further boosts to income.The biggest lesson Berger has learned in his investing career is "it is absolutely impossible for anybody to predict the future." The key is to make sure one is paid for taking on risk and can monitor the holdings on an ongoing basis. "Avoid trying to seek out home runs," he says. "They're few and far between and for every home run you do hit, you'll have far too many failures."For the immediate future, Berger expects interest rates to remain low, which should help risk assets. Investors should take advantage of this to allocate to securities that offer income and the possibility of capital gains. Berger likes consumer staples such as General Mills (GIS), Clorox (CLX), Procter & Gamble (PG). Some industrials companies should also do well and an options strategy can hedge out a lot of the risk. The options strategy has come in particular use where the merger between Sprint (S) and T-Mobile US (TMUS) merger is concerned. Berger explains this on the podcast.Topics Covered2:30 minute mark - Investing strategy5:15 - What type of screening do you do?7:45 - Something you've learned from investing9:15 - What is something you learned over the past year?12:30 - Prediction for coming months16:00 - How did you get into investing given your background?22:15 - Can lower interest rates help oil prices?26:00 - What sectors do you like right now?29:30 - Cash secured put strategyLearn more about your ad choices. Visit megaphone.fm/adchoices

We spoke with J Mintzmyer about the shipping sector in June, when sentiment was at a low. There's been quite a turn since then, and after another Marine Money event we speak with him about what's changed and where investors' focus is. ESG (Environmental, Social, and Corporate Governance) investing was a major topic, but as a positive driver for the sector in the way that IMO 2020 has been, rather than as a problem. You can read J's full write-up of the conference here.Topics Covered2:00 minute mark - The turnaround in shipping sector sentiment and optimism over pending regulations5:00 - Shipping companies role in innovation8:00 - Divestment pressure and the Poseidon Principles14:00 - IMO 2020's impact and what it means for future regulations20:00 - Consolidation in the sector25:30 - LNG as a bridge fuel - yea or nay?29:00 - Names that stood out - Star Bulk Carriers (SBLK), Dorian LPG (LPG), and Scorpio Tankers (STNG)Learn more about your ad choices. Visit megaphone.fm/adchoices

Eric Basmajian rejoins the Marketplace Roundtable Podcast to discuss his investing experience as reflected in the EPB Macro Research service.Basmajian's approach is to separate the economy into two main phases: periods where growth is accelerating versus periods where growth is decelerating. "What's nice about that approach is it's pretty objective," says Eric. "There's no opinion in an acceleration or a deceleration; it's more of a fact-based characterization."During periods when growth is decelerating, his approach is to adopt a defensive investment posture characterized by an overweight allocation to fixed income and defensive stocks such as utilities, health care, and consumer staples. When growth accelerates, Eric over-allocates to more cyclical, risk-sensitive stocks and away from fixed income.How to correctly identify the inflection points in the economic cycle? EPB uses a process of leading indicators and then adopts its investment approach based on these metrics. Right now, "the market is starting to try to shift to a stage of acceleration," marked by an outperformance of cyclical assets.But the leading indicators do not corroborate this sentiment. "We still have an industrial slowdown," which carries its own sets of risks, specifically employment. Here, leading indicators "are actually moving to the lowest growth rate since 2009." The loss of jobs, particularly in manufacturing, is preventing EPB from assigning the "all clear" signal for buying risk assets.To navigate these risks, investors should allocate to the short-end of the yield curve. There are several short-term Treasury ETFs that can accomplish this. Industrial and material stocks should best be avoided, as should shares of cyclical companies.Contents:2:15 - Discuss your approach to investing4:00 - What's our status in the current cycle?6:45 - What about the argument that manufacturing is not as important anymore?9:45 - Is there any hope for a resurgence in manufacturing?11:30 - Important leading indicators17:00 - Outlook for interest rates and global growth24:15 - Concerns about the market/portfolio29:45 - Recommended investmentsLearn more about your ad choices. Visit megaphone.fm/adchoices

Joe Albano rejoins the Marketplace Roundtable Podcast to discuss his investing experience as reflected in his Tech Cache service.Albano's strategy is a hybrid of fundamental and technical methods. He focuses mostly on technology stocks, an industry he knows well from his life pre-Seeking Alpha. Albano has a university degree in computer and electrical engineering but says he is mostly self-taught when it comes to understanding chips and software.Favorite ideas include Nvidia (NVDA) and other semiconductors, as well as Snapchat (SNAP).Topics Covered2:15 - Investing strategy5:30 - What did you do before you started writing for SA?7:15 - How did you get into investing?9:00 - Key lesson learned10:00 - Something new learned this year11:45 - Technology forecast14:00 - AI discussion16:30 - Something that worrisome about the market right now17:45 - What give you confidence in your approach?19:00 - View on GoPro (GPRO)20:15 - Favorite ideas - Nvidia (NVDA) and Snap Inc. (SNAP)Learn more about your ad choices. Visit megaphone.fm/adchoices

Michael Wiggins de Oliveira rejoins the Marketplace Roundtable Podcast to discuss his investing experience as reflected in his Deep Value Returns service.As the name of his research service suggests, Wiggins de Oliveira specializes in deep value, focusing on companies that generate strong free cash flow. His model is Warren Buffett's run from 1956 to 1969 when Buffett generated 30% annual returns for his partnership. The idea is to buy companies that are out of favor and cheap.This is difficult to accomplish today when most equity markets are richly valued. This requires investors to even more selective than usual. It is important to scrutinize a company's balance sheet carefully and think about the business' long term prospects. "You need to know that the business itself, the enterprise, should have a huge staying power, three, five, 10 years down the road," Wiggins de Oliveira says.The boom in passive investing funds is one item of concern at present. The result of the proliferation of passive funds is that a lot of companies' shares get purchased by virtue of inclusion in an ETF or index, and not because of the underlying value of its business. "At some point when this bubble pops and a lot of retail investors come out of passive funds it's going to be a difficult environment with mass selling," Wiggins de Oliveira says. While passive funds are certainly important in many ways, "I'm not sure retail investors are going to be able to withstand the downturn when it comes. And it will come."For his part, Wiggins de Oliveira, has "stuck to my guns" and doing his utmost to be very careful with capital deployment. Even cheap value stocks can go down in price but at some point they do hit a bottom. Topics Covered2:00 minute mark - Investing strategy3:45 - Important lesson learned about investing7:00 - View of the current market and outlook11:00 - Are there many companies that don't pay dividends and also don't repurchase shares?14:45 - Concerns about the market/portfolio18:00 - What gives you confidence in your approach?21:30 - Favorite ideas (BBBY) (IPI)Learn more about your ad choices. Visit megaphone.fm/adchoices

Bill Gunderson, founder of Gunderson Capital Management, joins the Marketplace Roundtable Podcast to discuss his investing experience as reflected in the Best Stocks Now! Premium service.Gunderson has been a professional money manager for 22 years and finds investors generally fall into one of two camps: value investors or "more from the cam, slam, momentum" school of thought. Gunderson finds himself "right in the middle," combining value with "momentum, alpha, and performance."One integral lesson he's learned in his career is that "stocks and indexes follow earnings." This explains why the market has gone up for 10 years and counting. This year the S&P 500 is on track to make $165 per share, compared to $58 in 2009 when the rally began. Next year the consensus is for $180 per share, or 9% higher than this year, which according to Gunderson's expectations should translate into a level above 3,200 for the S&P 500 in coming months.As earnings season kicks off, he is keeping an eye out for companies that begin to stray from the course that was projected. Last earnings season it was Netflix (NFLX), which caused Gunderson to sell his shares in the streaming services company. China trade talks are "the biggest cloud hanging over the market," but Gunderson expects a resolution by the end of the year or sooner. "It's just gotta happen," he says. "Not getting a resolution or some real big question mark over the election coming up -- I think those are the biggest factors."Favorite ideas include Charter Communications (CHTR), "a cable company so disliked by their customers they had to change their name." Gunderson has a big position in CHTR and remains bullish as earnings expectations increase. He recently wrote about Lululemon Athletica (LULU), which has "a very strong history of beating earnings," and likes Chipotle (CMG), Dexcom (DXCM), and Insulet Corp (PODD), among others.Topics covered:2:00 - Describe your investing style3:15 - Key lesson learned4:00 - Assessment of current market, particularly in light of earnings7:15 - Any sector you focus on?10:00 - Anything that currently scares you about the markets?11:00 - Thoughts on Zuckerberg vs. Warren12:30 - Favorite stock ideas. (CHTR) (LULU) (CMG) (DXCM) (PODD) (BX)Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest on The Marketplace Roundtable Podcast is the Founder, President and Director of Research & ETFs at Hoya Capital Real Estate, Alex Pettee. Hoya Capital Real Estate is a Connecticut-based registered investment advisor that is working to make real estate investing more accessible to all investors. In that vein, Hoya Capital advises ETFs and individual accounts by investing in portfolios of publicly traded commercial and residential real estate companies.Alex also goes by the moniker Hoya Capital Real Estate here at Seeking Alpha. He’s been a contributing author since 2015 - around the time he founded Hoya Capital - building up a following of more than 12,000 investors with his unparalleled analysis of the U.S. real estate market. In August, he joined the team at the iREIT on Alpha marketplace service, run by Brad Thomas, to provide the macro side of the real estate investing equation.In March of this year, Alex launched the Hoya Capital Housing ETF (HOMZ), which is really the first fund to offer exposure to the entire U.S. housing market in a single fund. Alex and I cover the U.S. housing market from both a top-down and bottom-up perspective including how the macro analysis he provides to iREIT on Alpha is a great compliment to the single name analysis Brad Thomas specializes in.Topics covered:2:45- Hoya Capital’s Backstory: How did Alex become “obsessed” with real estate as an asset class and come to launch the Hoya Capital Housing ETF.5:30 - A year of firsts: Alex joins the iREIT on Alpha Seeking Alpha Marketplace service as the “Macro real estate” specialist.10:15 - Lower rates vs. recession concerns: Which trend has the upper hand in the U.S. housing market?18:00- When will the backlog of “deferred household formations” among Gens X and Y finally enter the housing market?22:00 - Viewing current homebuilder valuations in light of the massive run-up YTD (XHB) (ITB).25:00- Current dynamics in the rental market (REZ).29:30- HOMZ - The entire U.S. housing market in a single ETF.32:30- Looking under the hood: Understanding sector caps and weightings within HOMZ.37:00 - HOMZ: More of a capital appreciation or an income play?40:15 - Creating an ex-U.S. equivalent to HOMZ is harder than it seems.43:00 - In search of a higher quality higher-yield real estate product.Learn more about your ad choices. Visit megaphone.fm/adchoices

Michael Kramer, founder of Mott Capital Management, joins the Marketplace Roundtable Podcast to discuss his investing experience as reflected in the Reading the Markets service.On the whole, he is "very bullish on the equity market," believing another up leg to be imminent that will be reminiscent of the late 2016 to early 2018 period. For 2020, he has a target valuation of 3,400 for the S&P 500, corresponding to an increase of about 10% to 15% from current levels. He also shares some of his top picks.Topics Covered:2:00 - Investing strategy/key lesson6:15 - Something new learned over the past year8:15 - View of macro picture15:00 - Thoughts on equity market sectors19:45 - Anything that scares you about the markets or your portfolio?20:45 - Something that gives you confidence23:00 - Concerns about recession, inflation, manufacturing?25:00 - Favorite ideas (DIS) (NFLX) (T) (SQ) (AMD)Learn more about your ad choices. Visit megaphone.fm/adchoices

Thomas Lott, an adherent to Graham and Dodd/Buffett style investing, joins the Marketplace Roundtable Podcast to discuss his strategy as reflected in the Cash Flow Compounders service.Lott seeks companies that have the ability to compound earnings per share better than market rates over an extended period of time. In this case at least 8%, which is more than the 6% annual average in the S&P 500 since 2015.It's not just about earnings growth, however. Investment-grade balance sheets, higher return on equity, high margins, and stocks that didn't lose material value during the Great Recession are additional factors that go into Lott's screen. Right now he has a list of "about 100 names" that he considers "best in class" and an additional list of 200 second-tier stocks.The critical decision is choosing an entry point for investing. Here Lott tracks prices to identify when stocks trade cheaply "to their typical trading patterns." He ranks the 100 names on a daily basis using "four or five metrics" and then does more fundamental work "to figure out if this is something I want to own."Right now, Lott sees markets "kind of at an inflection point" where there could soon be a shift from growth back to value stocks. One of his favorite ideas right now is Wabtec Corp. (WAB), a manufacturer of locomotives and locomotive parts that recently acquired GE Transportation. There are several factors that go into his thesis, all of which are discussed on the podcast starting around 19:31.Topics Covered2:00 minute mark - Investing strategy7:00 - How much does balance sheet factor in to your analysis?8:15 - What have you learned during your investing career that you find valuable right now?10:30 - Lessons from the past year13:45 - Something that scares you about markets/portfolio right now?15:15 - Something that gives you confidence?17:00 - Are you concerned that "safer" stocks could also be punished in a recession related sell-off?19:30 - Favorite ideas. (DELL) (WAB) (CMCSA) Learn more about your ad choices. Visit megaphone.fm/adchoices

This trailer previews our initial two shows on The Investing Edge, from Value Investor's Edge Live hosted by J Mintzmyer, and The Razor's Edge, hosted by Daniel Shvartsman and Akram's Razor. Our excerpt for Value Investor's Edge Live is from our first episode, where J Mintzmyer speaks with Robert Bugbee of Scorpio Tankers about the company's comfortable cash position and the pending catalyst of IMO 2020. Our excerpt from The Razor's Edge is from the first episode, which covers Disney, Netlfix, and the streaming universe. Daniel Shvartsman asks Akram's Razor about whether Netflix can solve a budding challenge - too much content on the service. The Investing Edge is a podcast channel on Seeking Alpha that features shows from different Seeking Alpha authors, with a focus on their unique investing style. Authors will speak with CEOs and industry experts, break down key market stories and topics, and share insights on how they research new investments. The first two shows on The Investing Edge are: Value Investor's Edge Live, hosted by J Mintzmyer of Value Investor's Edge. The show will feature J's conversations with publicly traded shipping company CEOs, sector experts, and fellow deep value investors about their companies and investing approaches. The Razor's Edge, hosted by SA podcast host Daniel Shvartsman and Seeking Alpha author Akram's Razor of The Razor's Edge.   Learn more about your ad choices. Visit megaphone.fm/adchoices

The Fortune Teller joins the Marketplace Roundtable Podcast to discuss his investing experience as reflected in the Wheel of Fortune service. TFT's strategy starts with a comprehensive view of the entire market across asset classes. The primary concern is risk. "We think that our first responsibility is assessing and calculating the risk," says TFT. "Risk management lies at the very core and essence of everything we do."Learn more about your ad choices. Visit megaphone.fm/adchoices

Avi Gilburt rejoins the Marketplace Roundtable to share his prognosis on the market after a bumpy year. He reviews the basis of his investing style, and its roots in investor sentiment. He sees the potential for both a strong correction and an eventual bigger rally, which leaves him looking for a better entry point. The story is similar in bitcoin and metals as well.Topics covered:2:00 minute mark - Description of "Fibonacci Pinball" and "Elliot Wave."4:30 - What do these theories say about today's market?6:30 - How does this affect your investing strategy?9:00 - Lessons learned.10:30 - What to look for when entering into an investment.13:30 - Would your investing strategy be useful in dealing with anything from the past year or so?15:00 - Can central bank action affect Elliot Wave cycle?18:00 - Does anything scare you about the markets or your portfolio?19:15 - What gives you confidence?20:00 - Bitcoin bottom and rally.22:30 - Specific ideas recommendations.Learn more about your ad choices. Visit megaphone.fm/adchoices

A family office manager explains how he evaluates and builds client portfolios via ETFs, CEFs and single stock positions. Learn more about your ad choices. Visit megaphone.fm/adchoices

Ruerd Heeg joins the Marketplace Roundtable Podcast to discuss his quantitative methods of investing as reflected in his Global Deep Value service.Heeg seeks stocks with multiple favorable fundamentals, such as those trading below net current assets or with low price earnings. He diversifies by investing in multiple parts of the world through a variety of strategies. "I export fundamentals for thousands of global stocks, then I rank these stocks in several metrics simultaneously, using a computer program." The metrics are determined by the strategy -- Heeg has seven that are based on academic research.A simple metric that has improved results is to filter stocks by liquidity. This yielded better companies than before. A statistical approach, "using many small positions," is a good way to hedge out the factor of luck, says Heeg.Topics Covered2:10 minute mark - Investing strategy, mathematical models6:45 - Key lesson learned over time8:00 - Anything valuable to take away from how the markets have been behaving?10:15 - What are some sectors you cover?14:00 - Specific picks (OAOFY) (TSLA)20:15 - Concerns about market/portfolio22:30 - What gives you confidence now?24:15 - Talking about the Sanofi Genzyme CVR (GCVRZ) value right. Learn more about your ad choices. Visit megaphone.fm/adchoices

David Alton Clark of Clark Capital joins the Marketplace Roundtable podcast to discuss his  High Yield Income Forum service and how his investing strategy has evolved over the last quarter century.Having successfully navigated the dot-com collapse in the early 2000s and real estate bubble later that decade, Clark today values capital preservation over capital creation. "You really need to watch out for your nest egg as you're building it up over time," he says.That includes seemingly simple things like having a plan to "layer in" to a position once a decision has been made to invest.Topics Covered:2:00 - Investing strategy4:00 - Key lesson learned in your career6:30 - Lesson learned in the last year8:30 - What are you watching as we head toward the end of the year?10:45 - Concerns about the market/portfolio13:00 - What gives you confidence about your approach?16:45 - Characteristics of bubbles19:00 - Stock pick ideas - AT&T (T)22:45 - Century Link (CTL)27:30 - Iron Mountain (IRM)29:30 - How important is dividend income to your investing thesis? Learn more about your ad choices. Visit megaphone.fm/adchoices

Julian Lin joins the Marketplace Roundtable podcast to discuss his "best of breed" approach to investing high probability operators, as plays out on his Marketplace service, High Probability Investments. Lin aims for high median returns, which requires a focus on increasing the probability of an investment's potential. "What that basically means is I'm not going to choose the cheapest operator in the space," he says. "I'm probably going to pay up for the best of breed operator, even though they might trade at a premium valuation to peers."One common mistake investors make is to rely on valuation metrics for a margin of safety. A complete investment thesis focuses on the bigger picture, says Lin. "It's not the valuation that tends to ruin an investment thesis, it's really everything else -- bad management, high debt, bad financial results." Focusing on the best of breed operators is a good place to start.Topics covered:2:00 minute mark - Description of investment strategy3:15 - How do you choose investments?5:00 - Current view of the market6:00 - Other than valuation, what separates low from high quality?9:30 - Concerns about market/portfolio14:30 - What gives you confidence about your approach?16:00 - Favorite idea (SPG)29:30 - Probably of a Facebook breakup (FB)30:00 - Bullish on Amazon (AMZN)35:00 - Change of heart on Alibaba (BABA)Learn more about your ad choices. Visit megaphone.fm/adchoices

Alpha Gen Capital joins the Marketplace Roundtable podcast to discuss his approach to investing in closed-end funds, as plays out on his Marketplace service, Yield Hunting. Alpha Gen Capital prefers closed-end funds due to the income flows and strong risk-adjusted returns. It typically looks at "high quality, closed-end bond funds," including taxable and tax-free products but is constantly looking for how to position its portfolio.Learn more about your ad choices. Visit megaphone.fm/adchoices

In today's special edition of the Marketplace Roundtable Podcast, we feature a table-turner: J Mintzmyer, author of Value Investor's Edge, is the interviewer this time, as Michael Boyd of the newly renamed Energy Income Authority joins him to discuss the opportunity in the energy sector, why he's focusing on that segment, and what parts he is avoiding or looking for buys in.Learn more about your ad choices. Visit megaphone.fm/adchoices

Dr. Ashok Dutta of Avisol Capital Partners joins the Marketplace Roundtable podcast to discuss his approach to investing in biopharmaceutical stocks, as plays out on his Marketplace service, The Total Pharma Tracker. Avisol has two styles: On the one hand a long-term buy and hold strategy with active monitoring and profit taking. On the other, a non-algorithmic, short-term momentum trading model supported by fundamental data and catalyst. "We believe in moderate risk taking," says Dutta. Learn more about your ad choices. Visit megaphone.fm/adchoices

Adam Galas, better known as Dividend Sensei, has become known for his dividend strategy and his approach to the sector. A member of the newly launched Dividend Kings, he joins the Marketplace Roundtable to talk today's market and how he follows the #1 rule of investing as a dividend investor.(Note - the recording has a few brief rough patches)Topics covered:3:00 minute mark - Dividend Sensei's background and how he came to his approach.8:30 - How the last year has shown the importance of preparing for the worst and hoping for the best, and what that means going forward in this market12:00 - Concerns for today's market and how to handle the risks in the market16:30 - Ways to monitor the market and ways Dividend Sensei is positioning.21:00 - Opening up some ideas - Abbvie (ABBV), CVS (CVS), Bristol-Myers Squibb (BMY), and British American Tobacco (BTI)25:30 - Stress-testing the tobacco thesis  Learn more about your ad choices. Visit megaphone.fm/adchoices

Nicholas Gomez of ANG Traders joins the podcast this week to discuss his investing strategy, which can be boiled down to "buy the bull, sell the bear." But the market is a "complex and chaotic system" where many of the variables, and their relation to each other, remain unknown. To deal with that, investors must determine the market's primary trend at any given time.Learn more about your ad choices. Visit megaphone.fm/adchoices

Brad Thomas of iREIT on Alpha becomes one of the first repeat guests of the Marketplace Roundtable podcast, discussing his focus on the REIT sector in a wide-ranging conversation. The retail sector attracted initial focus. Somewhat surprisingly considering the "retailpocalypse" that has taken hold in much of the developed world, Thomas still sees buying opportunities among retail-focused REITs. The key for Thomas is to stay away from chasing yield and focus on principal preservation. Learn more about your ad choices. Visit megaphone.fm/adchoices

On the latest Marketplace Roundtable Podcast, Bhavneesh Sharma sits downs to discuss his background as a practicing M.D. and how it gradually morphed into the approach to biotech investing he espouses at Vasuda Healthcare Analytics, the Seeking Alpha Marketplace service he founded in 2016.Learn more about your ad choices. Visit megaphone.fm/adchoices

On this sneak peek episode of Let’s Talk ETFs, Seeking Alpha’s newest podcast dedicated to the burgeoning ETF space, host Jonathan Liss is joined by ExponentialsETFs CEO Phil Bak, to discuss Phil’s ‘aha’ ETF moment, after which he was hooked on ETFs for good. Tune in every Wednesday starting July 10 for full-length episodes of Let’s Talk ETFs. Subscribe now to make sure you don’t miss a single episodeLearn more about your ad choices. Visit megaphone.fm/adchoices

Steve Wells, the author behind the Fear & Greed Trader account and the Marketplace service Savvy Investor, explains why he is "not in a mode where I'm even thinking about lightening up on my exposure" as long-term trend lines indicate the bull market has longer to run. Having lived through several economic and market cycles, Wells concedes it is difficult to mute emotions especially with all the media attention to daily movements. The key is to "step back, and look at the longer term trend."Learn more about your ad choices. Visit megaphone.fm/adchoices

J Mintzmyer of Value Investor's Edge concludes his review of Marine Money in our third podcast on the subject. We spoke Friday morning, and go back into the IMO 2020 discussions to hear what industry insiders are saying and one divergent approach to the regulation that J is watching. J also shares a segment by segment breakdown of the industry, and we hit one more time on the theme that it might be darkest right before the dawn.Learn more about your ad choices. Visit megaphone.fm/adchoices

Let’s Talk ETFs is Seeking Alpha’s newest podcast. Each week, a different guest and host Jonathan Liss will take an in-depth look at a particular aspect of the rapidly evolving Exchange-Traded Fund space with a focus on how investors can best utilize ETFs to reach their investing goals. In addition, Let’s Talk ETFs will catch you up on all the most important ETF news including new fund launches and closures, top performers, and other notable ETF investing news from the previous weekLearn more about your ad choices. Visit megaphone.fm/adchoices

We continue our three-part miniseries covering Marine Money with J Mintzmyer of Value Investor's Edge. I spoke with J on Tuesday morning, before day 2 of the conference, to hear what the mood is on the floor and what the response was to the first panel he joined. He also shares insights from investor and management meetings, and a few positive stories on corporate governance and improving rate stories. Learn more about your ad choices. Visit megaphone.fm/adchoices

J Mintzmyer checks in with us on the state of the shipping industry before its headlining investor event, Marine Money. In the first episode of a three-part miniseries, we discuss the pessimism in the sector and why the fundamentals look better, as well as what J would like to see management teams do about it. The looming implementation of IMO 2020 comes up as well, and J walks us through that as well as the potential winners in the post IMO world.Learn more about your ad choices. Visit megaphone.fm/adchoices

On the latest Marketplace Roundtable podcast, Mark Hibben (of Rethink Technology) sits down with Seeking Alpha's Jonathan Liss to walk listeners through his unique approach to picking tech stocks. Mark incisively identifies and dissects key trends in tech - and how they are likely to play out in the stock market. In the wide-ranging conversation that follows, Mark touches on everything from what he sees as the new chip paradigm to Apple's recently concluded WWDC and the ongoing China trade war. Learn more about your ad choices. Visit megaphone.fm/adchoices

A special Marketplace Roundtable, as we share a Behind the Idea episode with Michael Boyd, Seeking Alpha author and owner of Industrial Insights on the Seeking Alpha Marketplace. We're talking about 3M Company (MMM). He was bearish about the company as of April, so we wanted to get his take on what led the company to this point, how they could change his mind, and what he is watching for going forward.Learn more about your ad choices. Visit megaphone.fm/adchoices

On the latest Marketplace Roundtable podcast, David Trainer, of Value Investing 2.0, sits down with Seeking Alpha's Jonathan Liss to walk listeners through his comprehensive stock and equity fund valuation system. The system is rooted in a painstaking process of forensic analysis and correcting financial reporting data, via machine learning. The wide-ranging conversation that follows tries to answer deeper questions about proper valuation techniques in a 'permanent' low yield environment.Learn more about your ad choices. Visit megaphone.fm/adchoices

In his nearly 20 years of investing, Arturo Neto, CFA of The Income Strategist, has seen pretty much every type of market environment. His approach - which combines bottom up and top down analysis - is all about generating yield and managing risk simultaneously. He walks listeners through his strategy and explains his broader view of the current macro environment in the latest edition of the Marketplace Roundtable Podcast.Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's Market Roundtable Podcast features Lawrence Fuller of Fuller Asset Management and The Portfolio Architect. Fuller's strategy is an adaptation of Ray Dalio's All Weather portfolio that maintains exposure to asset classes based on economic "seasons." Having lived through all four of these "seasons," the appeal of maintaining exposure to various asset classes is obvious to Fuller. Learn more about your ad choices. Visit megaphone.fm/adchoices

In the latest episode of the Marketplace Roundtable Podcast, Eric Basmajian of EPB Macro Research explains the workings of his unique macro-driven approach to investing and reads the current macro tea leaves. His underlying thesis: Spiraling debt is starting to take a real toll on current and future U.S. growth prospects. He concludes with some actionable recommendations for sectors he likes and sectors to avoid based his his macro thesis.Learn more about your ad choices. Visit megaphone.fm/adchoices

Longtime investor and Seeking Alpha author Mark Bern, CFA, one of the co-authors of Friedrich Global Research, joins the Marketplace Roundtable to talk about their focus on free cash flow. Mark shares how the firm uses strict investing criteria consisting of primary and secondary ratios helps avoid mistakes, with a focus on consistency in company performance. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's Marketplace Roundtable podcast features Andrew Hecht, author of the weekly Hecht Commodity Report. Hecht's investment strategy focuses on fundamentals. He looks at supply and demand to get a view of direction bias, then at technical indicators for entry and exit points as pricing cycles tend to determine tops and bottoms in the commodities sector. His aim with the service is to provide the most comprehensive, deep-dive commodities report on the market.Learn more about your ad choices. Visit megaphone.fm/adchoices

In the latest edition of the Marketplace Roundtable Podcast, J Mintzmyer discusses his bread and butter: the global shipping sector. Shipping stocks took a major thrashing in the last few months of 2018, meaning there are now several deep value picks within the sector trading at multi-year discounts. Learn more about your ad choices. Visit megaphone.fm/adchoices

As the bull market stretches out another leg, Andres Cardenal, CFA highlights a few areas where value is still to be found. The author of The Data-Driven Investor, he combines a quantitative and fundamental analysis approach to his investing. In the current climate, he likes the market's outlook over the next 6-12 months as well specific ideas in U.S. tech such as Google, and opportunities abroad as in Brazil.Learn more about your ad choices. Visit megaphone.fm/adchoices

Jonathan Faison, of the ROTY Seeking Alpha Marketplace service,  first started exploring the biotech space a decade ago. He emphasizes a focus on preserving capital by limiting position sizes and picking stocks that have multiple "irons in the fire". What follows is a wide-ranging discussion on investing in the biotech space - both broadly and with specific examples currently playing out.Learn more about your ad choices. Visit megaphone.fm/adchoices

Colorado Wealth Management Fund runs The REIT Forum, so it's no surprise that this podcast focuses on the real estate investment trusts. Drawing on his background in accounting and finance, Colorado Wealth Management discusses the importance of great fundamentals in selecting a REIT, and how their focus on the sector allows them to do a few things very well.Learn more about your ad choices. Visit megaphone.fm/adchoices

JD Henning is a Finance PhD, MBA, investment adviser, fraud examiner and certified anti-money laundering specialist with more than 25 years trading and investing stocks and other securities.  He is the founder of Value & Momentum Breakouts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Are you a trader or an investor? It's a question that echoes across many conversations here at Seeking Alpha and beyond. The working assumption of most investors is that trading and investing are generally mutually exclusive. Brian Fletcher and Mike Richards want you to rethink those assumptions.Learn more about your ad choices. Visit megaphone.fm/adchoices

Jonathan Moreland of Daily Insider Ratings has been tracking insider buy and sell behavior for 30 years - pre-dating when this data was publicly available via the internet. Despite what many investors believe, using insider trading patterns to determine whether a stock is worth owning involves a lot more than simply adding up insider buys and sells. Moreland uses insider trading as a starting point to narrow down the universe of publicly traded equities to a more manageable size.Learn more about your ad choices. Visit megaphone.fm/adchoices

William Travis Koldus has a twenty plus year career as an investment analyst, investor, portfolio manager, consultant, and writer. Travis believes we are near a meaningful inflection point, perhaps the biggest one yet, for the third time in the past 15 years. You can gain access to Travis's insights via his SA Marketplace service, The Contrarian.Learn more about your ad choices. Visit megaphone.fm/adchoices

Patrick MontesDeOca founded The Equity Management Academy with the belief that "regular" investors could learn to trade like "Pros" when given the right tools. Patrick and Director of Research Dr. Scot Macdonald's accrued knowledge is embodied in the fully automated proprietary trading program, Variable Changing Price Momentum Indicator (VC PMI). They offer subscribers to their SA Marketplace service, Mean Reversion Trading, regular reports and trading alerts on the S&P 500 E-mini, gold and silver.Learn more about your ad choices. Visit megaphone.fm/adchoices

Dr. Tran shares his wisdom and experience as it applies to investing in the biotech arena on his marketplace service Integrated BioSci Investing. Dr. Tran's goal is to help make this complicated sector accessible to the average investor.Learn more about your ad choices. Visit megaphone.fm/adchoices

Earnings drives stocks; that's the fundamental thesis behind Chaim Siegel's approach to the market. Writing as Elazar Advisors, LLC, he has brought his experience in the markets - including at Morgan Stanley and S.A.C. Capital - to Nail Tech Earnings. He discusses his background and how he approaches the tech sector, and then shares his views on Twitter and Micron, among other ideas.Learn more about your ad choices. Visit megaphone.fm/adchoices

Ranging from a hedge fund career in New York to an entrepreneurial career in Latin America, Ian Bezek has developed a global perspective on markets, which plays out on his Marketplace service, Ian's Insider Corner. He joins the Marketplace Roundtable to talk about a wide range of topics, ranging from Mexican stocks to commodity ETFs. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 15 of the Marketplace Roundtable,  Seeking Alpha's Jonathan Liss sits down with Howard Jay Klein of The House Edge for a wide-ranging discussion on casino stocks, sports betting and online gaming. With 30 years of experience running some of America's top casinos, Howard is uniquely positioned to offer up investing advice on this sector. Starting with a bird's eye view of the broad trends and themes shaping the gambling sector today, Howard proceeds to offer some of his top picks in the spaceLearn more about your ad choices. Visit megaphone.fm/adchoices

Bret Jensen (aka The Insiders Forum) sits down with SA's Jonathan Liss to discuss his unique approach to investing. Particularly when company insiders are buying up their own shares en masse, Jensen starts to dig deeper, developing a thesis for the stock. It's a strategy that has routinely delivered out-sized returns over the years, as demonstrated by the strong performance of his SA Marketplace service, The Insiders Forum.Learn more about your ad choices. Visit megaphone.fm/adchoices

Long-time market commentator and stock picker Rick Pendergraft sits down with Seeking Alpha's Jonathan Liss to discuss his approach to investing and the current macro environment. Rick believes in a 3-pronged approach of fundamental, technical and sentiment analysis to ensure all of his investment picks are built on a strong foundation. It's an approach he references regularly in his newly-launched Marketplace service, The Hedged Alpha Strategy.Learn more about your ad choices. Visit megaphone.fm/adchoices

Tech is always in the news, and it's started 2019 as a renewed market leader. But between trade talks, the ups and downs for Apple, and periodic calls for regulation, it's unclear where the sector will go from here. Joe Albano, author of Tech Cache, shares some of his long ideas and how he maintains flexibility while trusting in his intuition at the same time. Learn more about your ad choices. Visit megaphone.fm/adchoices

Cryptocurrency specialist Hans Hauge sits down with Seeking Alpha's Jonathan Liss for a wide-ranging conversation on investing in the digital currency spaceLearn more about your ad choices. Visit megaphone.fm/adchoices

Miners can be their own animal in the market, with different production and earnings cycles than many other stocks. Joshua Hall of Industrial Minefinder discusses his unique view on the market, what he sees as misconceptions in the junior miner space, the difference between major miners and other businesses, how to deal with country risk, and a favorite idea.Learn more about your ad choices. Visit megaphone.fm/adchoices

Biotech specialist  Jerome Verony of Second-Level Investing sits down with Seeking Alpha's Jonathan Liss for a wide-ranging conversation on investing in the sector and all that requires. In the second half of the show, Jerome shares his current top biotech investing ideas. Learn more about your ad choices. Visit megaphone.fm/adchoices

Real estate is a long-lived asset, but REITs seem to trade on short-term sentiment time and again. That opens up opportunities, according to Brad Thomas of Rhino Real Estate Advisors. He joins the Marketplace Roundtable to talk about the opportunities he sees in communications REITs, industrial REITs, and other corners of the growing real estate market.Learn more about your ad choices. Visit megaphone.fm/adchoices

Value investing, like any investing style, can get dogmatic. Chris DeMuth Jr., the host of Sifting the World and founder of Rangeley Capital, shares his approach for value investing in the current market and how to find ideas where others aren't looking.Learn more about your ad choices. Visit megaphone.fm/adchoices

Investing is simple, but not easy. Darren McCammon, the author of Cash Flow Kingdom, discusses the hard work that goes into his investments, but also the way well-covered dividends help him sleep well at night when the market is selling off. He also shares a few long-term theses, including the marijuana sector and the natural gas/LNG trade play. Learn more about your ad choices. Visit megaphone.fm/adchoices

Technical analysis has its skeptics, but Avi Gilburt explains his approach to Elliott Wave investing and why he believes it works. Essentially, it's just a way to read into the broader psychology of the markets. On this week's podcast, he discusses how he came to Elliott Wave and why it's as relevant as ever in today's markets. Topics covered: 2:00 - How the discovery of Elliott Wave transformed Avi's approach to investing and how he started giving other investors investing advice 5:40 - A brief ovLearn more about your ad choices. Visit megaphone.fm/adchoices

In the midst of of whiplash-inducing sell-off and bounce-back rallies in all the major equity indexes, including the microcap benchmark Russell 2000, what's the case for microcap investing? We speak with Safety In Value, who admits there is a lot of garbage out there in the space, but argues that there is still attractive potential as long as investors remember to protect their downside. Topics Covered: 4:00 - Small and microcap stocks are often less well known by the investing public and thus, chancLearn more about your ad choices. Visit megaphone.fm/adchoices

With rising interest rates and a volatile market, the game plan of chasing yields in recent years may no longer apply. Alpha Gen Capital talks about how they hunt for yields without overloading on risk, and how to approach the current climate. Topics Covered: 3:35 mark - Alpha Gen discusses his investing heroes, particularly Peter Lynch 6:00 - Discusses his unique approach to investing, with a focus on 'portfolio-level' analysis. Ensuring all individual positions interact properly with the broaderLearn more about your ad choices. Visit megaphone.fm/adchoices

The themes of passive/algorithmic investing taking over the market long term, and the trade war and Federal Reserve in the near term loom large over our second Marketplace Roundtable podcast. Margin of Safety Investing author Kirk Spano discusses his investing approach and the importance of quantitative and macro analysis, the macro risks in the market today, whether he's in a defensive or offensive position, and the sector that most interests him Topics covered: 1:15 minute mark - The core 4 approach KirkLearn more about your ad choices. Visit megaphone.fm/adchoices

Deep Value and Tech don't naturally go together. But Michael Wiggins de Oliveira explains how he follows both, and how his work on tech stocks informs his deep value investing. He shares a few investment ideas as well as his views on where AMD, Amazon, and Netflix may be heading (hint: not higher). Topics covered: 1:15 minute mark - Investing approach - the focus on free cash flow 5:00 - Lessons learned - the power of not knowing 7:30 - 2018 lessons - things take longer to play out than expecteLearn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to the Seeking Alpha Marketplace Roundtable Podcast! This podcast will feature interviews with our Marketplace authors about their investing strategy, approach, and ideas.Learn more about your ad choices. Visit megaphone.fm/adchoices