Yet Another Value Podcast

Chadd Garcia finds price dislocation in global digital infrastructure firm, DigitalBridge $DBRG


Listen Later

Chadd Garcia, Portfolio Manager and Senior Research Analyst at Schwartz Investment Counsel Inc. - Ave Maria Mutual Funds, joins the Yet Another Value Podcast for the first time to discuss DigitalBridge Group, Inc. (NYSE: DBRG), and why he finds there could be price dislocation in the global digital infrastructure firm.

Chapters:

0:00 - Introduction + Episode sponsor: $BYTE

2:23 - Overview of DigitalBridge Group, Inc. (NYSE: DBRG)

8:10 - Chadd's thoughts betting on CEO, Marc Ganzi, + background

12:38 - First part of the valuation argument, Chadd's describes the sum of the parts

18:17 - DigitalBridge investment summary so far + second part of the valuation argument (asset pitch), and what the sell-side is missing when they look at the asset value side of the business

26:30 - Thinking through the income statement and cash flow

29:38 - Updated guidance for 2023 and 2025: how does Chadd think about valuation with respect to this information

32:14 - Operating leverage

33:44 - Two acquisitions on the asset management business and their affect on D/E multiple

37:47 - Opportunity cost: Why choose DigitalBridge over alternatives?

40:02 - Addressing pushback on DigitalBridge 45:45 - Outlook on fundraising & acquisition environments

48:47 - Value catalysts for 2023

49:49 - Thinking the the DBRG's scaling potential

50:59 - Does Chadd Garcia think DBRG eventually branches outside digital infrastructure?

52:36 - DBRG's capital allocation strategy

55:45 - Marc Ganzi's payout incentive and how that affects investor sentiment/thesis on DBRG

1:01:04 - Closing thoughts on DBRG 

For more information about Chadd Garcia and Schwartz Investment Counsel Inc. - Ave Maria Mutual Funds, please visit: https://www.schwartzinvest.com/investing-with-us/ave-maria-mutual-funds/

Today's episode is sponsored by: Roundhill IO Digital Infrastructure ETF – BYTE

Investing in the real assets that underpin our digital world has never been easier. We are pleased to bring you this podcast in partnership with Roundhill Investments, the advisor to the Roundhill IO Digital Infrastructure ETF – BYTE - which trades on the New York Stock Exchange under the ticker symbol - “B” “Y” “T” “E”. The fund tracks the BYTE Index, which measures the performance of 40 leading global digital infrastructure businesses, such as towers and mobile communications, fiber and fixed line connectivity, and data centers. For a prospectus and more information, please visit roundhillinvestments.com/etf/byte - read carefully. Investing involves risk, including possible loss of principal. Investors should consider the investment objectives, risks, charges, and expenses carefully before investing in BYTE. Distributor Foreside Fund Services, LLC: https://www.roundhillinvestments.com/etf/byte/

...more
View all episodesView all episodes
Download on the App Store

Yet Another Value PodcastBy Andrew Walker

  • 4.6
  • 4.6
  • 4.6
  • 4.6
  • 4.6

4.6

95 ratings


More shows like Yet Another Value Podcast

View all
We Study Billionaires - The Investor’s Podcast Network by The Investor's Podcast Network

We Study Billionaires - The Investor’s Podcast Network

3,365 Listeners

Odd Lots by Bloomberg

Odd Lots

1,774 Listeners

The Meb Faber Show - Better Investing by The Idea Farm

The Meb Faber Show - Better Investing

931 Listeners

Invest Like the Best with Patrick O'Shaughnessy by Colossus | Investing & Business Podcasts

Invest Like the Best with Patrick O'Shaughnessy

2,289 Listeners

Capital Allocators – Inside the Institutional Investment Industry by Ted Seides – Allocator and Asset Management Expert

Capital Allocators – Inside the Institutional Investment Industry

795 Listeners

Chit Chat Stocks by Chit Chat Stocks

Chit Chat Stocks

190 Listeners

The Market Huddle by Patrick Ceresna & Kevin Muir

The Market Huddle

362 Listeners

The Acquirers Podcast by Tobias Carlisle

The Acquirers Podcast

300 Listeners

Excess Returns by Excess Returns

Excess Returns

65 Listeners

Value Hive Podcast by Brandon Beylo

Value Hive Podcast

90 Listeners

The Memo by Howard Marks by Oaktree Capital Management

The Memo by Howard Marks

395 Listeners

The Business Brew by Bill Brewster

The Business Brew

245 Listeners

Business Breakdowns by Colossus | Investing & Business Podcasts

Business Breakdowns

344 Listeners

Behind the Balance Sheet by Stephen Clapham, Behind the Balance Sheet

Behind the Balance Sheet

47 Listeners

Forward Guidance by Blockworks

Forward Guidance

271 Listeners