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Evan Tindell, CIO of Bireme Capital, joins the podcast for his fourth time to discuss his thesis on British American Tobacco p.l.c. (NYSE: BTI), the company engages in the provision of tobacco and nicotine products to consumers worldwide.
For more information about Bireme Capital, please visit: https://www.biremecapital.com/
Evan's $BTI write-up in Bireme Capital's investor letter: https://www.biremecapital.com/blog/december-2023-investor-letter
Chapters:
[0:00] Introduction + Episode sponsor: Fundamental Edge
[2:04] Overview of British American Tobacco Company and why they are interesting to Evan
[6:42] What Evan thinks his edge is with $BTI / comments on stock performance over the last few months
[11:58] Vaping, regulations and how this affects $BTI
[18:38] $BTI annual report
[25:24] Competition from non-regulated folks / legal liabilities for new $BTI products / menthol cigarette ban
[34:00] Doom-looping on cigarette industry
[38:00] $BTI's ownership stake in ITC (formerly known as India Tobacco Company)
[43:43] "Sum of the Parts" stocks[51:07] $BTI capital allocation strategy
Today's episode is sponsored by: Fundamental Edge
You’ve probably heard it’s an “apprenticeship” system, or that you’ll “learn by osmosis”? But what if there was a better way to learn the equity analyst job? Fundamental Edge is re-defining training on the buy-side. Use the code "10YAVP" for a 10% discount. Website: https://www.fundamentedge.com/
Whether you’re already in the seat or looking to break in, the Analyst Academy from Fundamental Edge offers a thorough and flexible path to developing the tools and frameworks employed by leading hedge funds. Breaking in: https://www.fundamentedge.com/breaking-in
Check out the Academy syllabus and sign up for future free content: https://fundamental-edge.ck.page/academyinfo
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Evan Tindell, CIO of Bireme Capital, joins the podcast for his fourth time to discuss his thesis on British American Tobacco p.l.c. (NYSE: BTI), the company engages in the provision of tobacco and nicotine products to consumers worldwide.
For more information about Bireme Capital, please visit: https://www.biremecapital.com/
Evan's $BTI write-up in Bireme Capital's investor letter: https://www.biremecapital.com/blog/december-2023-investor-letter
Chapters:
[0:00] Introduction + Episode sponsor: Fundamental Edge
[2:04] Overview of British American Tobacco Company and why they are interesting to Evan
[6:42] What Evan thinks his edge is with $BTI / comments on stock performance over the last few months
[11:58] Vaping, regulations and how this affects $BTI
[18:38] $BTI annual report
[25:24] Competition from non-regulated folks / legal liabilities for new $BTI products / menthol cigarette ban
[34:00] Doom-looping on cigarette industry
[38:00] $BTI's ownership stake in ITC (formerly known as India Tobacco Company)
[43:43] "Sum of the Parts" stocks[51:07] $BTI capital allocation strategy
Today's episode is sponsored by: Fundamental Edge
You’ve probably heard it’s an “apprenticeship” system, or that you’ll “learn by osmosis”? But what if there was a better way to learn the equity analyst job? Fundamental Edge is re-defining training on the buy-side. Use the code "10YAVP" for a 10% discount. Website: https://www.fundamentedge.com/
Whether you’re already in the seat or looking to break in, the Analyst Academy from Fundamental Edge offers a thorough and flexible path to developing the tools and frameworks employed by leading hedge funds. Breaking in: https://www.fundamentedge.com/breaking-in
Check out the Academy syllabus and sign up for future free content: https://fundamental-edge.ck.page/academyinfo
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