Lionel Hutz, author of the excellent lionelhutz substack, comes on the podcast to talk about the ongoing drama with Twitter and Elon Musk. In this episode, we exclusively discuss the Twitter case as it stands on October 13th, the odds the deal closes at the end of the month, why it might not, and what happens if it doesn’t. If you’re looking for more background on the deal, please see my podcast from May with Evan Tindell or August with Professor Ann Lipton and Compound248.

Lionel's Twitter: https://twitter.com/LionelHutz_Esq
May pod with Evan: https://twitter.com/AndrewRangeley/status/1529452942931238914?s=20&t;=7yi3kr0wvPY0nduenfVdSA
August pod with Ann and Compound: https://twitter.com/AndrewRangeley/status/1556987816894255106?s=20&t;=LEFlc2kvhXZ_M59UhEj6NQ

Chapters
0:00 Intro
2:30 Where we are today
6:55 Dismissing CFIUS and Bot Outs
9:20 Financing and Insolvency risks overview
14:10 How could the banks pull out of financing?
21:10 How would Elon's efforts over the next three weeks impact financing outs?
26:45 Are Elon's hands too dirty at this point to use a financing out?
29:10 How would an insolvency out play out?
30:55 Does section 5.9 suggest Elon *must* make Twitter solvent at close?
33:20 Judicial Estoppel / has Elon already repped TWTR is solvent?
39:30 Piercing the veil / getting Elon to pony up all the money
45:10 What does the trial process look like if Elon doesn't close now?
48:45 What arguments and discovery get made at trial if Elon tries a financing out?
52:15 What arguments and discovery get made if Elon tries an insolvency out?
56:40 Closing timeline and the Tesla blackout window theory
58:15 Would Elon's lawyers have supported the motion to stay if they weren't planning on closing?
1:01:50 Why does Elon seem so scared of getting deposed?

Lionel Hutz explains why Elon will own Twitter $TWTR

Yet Another Value Podcast is a new podcast from Andrew Walker, the founder of yetanothervalueblog.com/. We interview top investors and dive deep into stocks and companies they are currently working on and investing in. While nothing on this channel is investing advice and everyone should do their own diligence, our goal is to frequently feature edgy and actionable value and/or event driven ideas.

Please see our legal and disclaimer at: https://yetanothervalueblog.substack.com/p/legal-and-disclaimer

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Asif Suria, Author of "The Event-Driven Edge in Investing: Six Special Situation Strategies to Outperform the Market", joins the podcast to discuss the six special situation strategies he outlines in his book to outperform the market.

You can buy your copy of Asif's new book, "The Event-Driven Edge in Investing: Six Special Situation Strategies to Outperform the Market" here: https://www.amazon.com/Event-Driven-Edge-Investing-Strategies-Outperform-ebook/dp/B0CN3PF1SW?_encoding=UTF8&dib;_tag=se&dib;=eyJ2IjoiMSJ9.1zuikMLb5MN1aQVWodj1ww.Nui4P_rilsWES5p1FNmoTnd5v0myqxSeQautyazGgno&qid;=1715709920&sr;=8-1&linkCode;=sl1&tag;=andrew613880e-20&linkId;=376c305fd243b22988ebba35edf5ecee&language;=en_US&ref;_=as_li_ss_tl

Chapters:

[0:00] Introduction + Episode sponsor: YCharts
[1:42] Overview of Asif's book, "The Event-Driven Edge in Investing: Six Special Situation Strategies to Outperform the Market"
[3:33] Merger Arbitrages + examples
[16:44] Insider Buying + examples
[29:23] Buybacks + examples
[36:45] Spinoffs + examples
[46:18] Management changes + examples
[55:32] SPACs + final thoughts

This episode is sponsored by our friends at YCharts

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Asif Suria on the Six Special Situation Strategies to Outperform the Market

Enrique Abeyta, Founder/CEO of HX Research, joins the podcast to share his thesis on Talen Energy Corporation (OTCQX: TLNE), an independent power producer ("IPP") and infrastructure company committed to the energy transition.
For more information about HX Research, please visit: https://daily.hxresearch.net/
Enrique's write-up on $TLNE: https://daily.hxresearch.net/p/an-actual-way-to-make-money-from-climate-change
Chapters:
[0:00] Introduction + Episode sponsor: Fundamental Edge
[2:29] What is Talon Energy and why are they interesting to Enrique + quick background of Enrique Abeyta / importance of power generation
[21:46] Quirks with $TLNE thesis (re: OTC, utilities, etc...
[27:25] Coming power crisis
[31:13] $TLNE valuation
[33:04] Evaluating and addressing risks: nuclear accidents, capital allocation
[39:28] AI
[47:18] Post-bankruptcy process
[51:27] Upcoming election (risk of new administration
[56:08] Demand response and final thoughts
Today's sponsor: Fundamental Edge
You’ve probably heard about the Analyst Academy from Fundamental Edge by now. So instead of repeating the basics, let’s talk a minute about what the Academy is and is not.
The Analyst Academy is a practical course on the tools and skillsets required to succeed in the buy-side analyst seat. The instructors have experience from firms such as Maverick Capital, DE Shaw, Citadel, Balyasny and ExodusPoint.
But what is the Academy NOT?
It’s NOT a course on stock-picking. It IS a rigorous guide to learning a process.
It’s NOT a guide to pod shop investing. The Academy attracts a wide range of equity investors, from multi-managers to long only to family offices. Rather than teaching a particular style, Fundamental Edge equips learners with the essential skills required to hit the ground running and support their PM.
It’s NOT a financial modeling course. Modeling is, of course, part of the curriculum and plays a central role. But the Academy is more than that. It teaches idea generation, thesis communication and how to add value as an analyst. 
To learn more and access a 10% discount code, go to fundamentedge.com/YAVP

HX Research's Enrique Abeyta on importance of power generation, power crisis + $TLNE thesis

The team that won the Pershing Square Challenge, Garrett Wallis, Jared Duda and Joseph Montgomery Ferguson, joins the podcast to discuss their winning pitch on Valvoline Inc. (NYSE: VVV).

You can find their winning pitch deck here: https://1drv.ms/b/c/b9a8675d1ef0d212/EUgO7sJJKoBBsx151i7xfvkBuTziYI94y8VF02bdym1WmA?e=21DQAc

Chapters:
[0:00] Introduction + Episode sponsor: Fundamental Edge
[1:49] Backgrounds on team that won the Pershing Square Challenge
[3:13] Valvoline Inc. $VVV pitch
[8:57] Store density / DIY customer share
[13:33] $VVV pitch cont'd
[28:26] AutoZone comparison / Franchise model
[35:35] Shift to EV, risks to $VVV?
[39:13] Consumer behavior / why franchisee wants to work with $VVV
[46:47] $VVV bear case / same store sales growth
[57:10] $VVV - variant view that generates alpha
Today's sponsor: Fundamental Edge
You’ve probably heard about the Analyst Academy from Fundamental Edge by now. So instead of repeating the basics, let’s talk a minute about what the Academy is and is not.
The Analyst Academy is a practical course on the tools and skillsets required to succeed in the buy-side analyst seat. The instructors have experience from firms such as Maverick Capital, DE Shaw, Citadel, Balyasny and ExodusPoint.
But what is the Academy NOT?
It’s NOT a course on stock-picking. It IS a rigorous guide to learning a process.
It’s NOT a guide to pod shop investing. The Academy attracts a wide range of equity investors, from multi-managers to long only to family offices. Rather than teaching a particular style, Fundamental Edge equips learners with the essential skills required to hit the ground running and support their PM.
It’s NOT a financial modeling course. Modeling is, of course, part of the curriculum and plays a central role. But the Academy is more than that. It teaches idea generation, thesis communication and how to add value as an analyst. 
To learn more and access a 10% discount code, go to fundamentedge.com/YAVP

Pershing Square Challenge 2024 winning team shares pitch on Valvoline $VVV

Welcome to the first edition of Andrew's Random Ramblings on the Yet Another Value Podcast. Once a month, Andrew will share thoughts on a few topics - this episode includes: investor conferences (since returning from Planet MicroCap Showcase: VEGAS 2024), control shareholders, energy drinks and stock advertising.
For more information about Rangeley Capital, please visit: http://www.rangeleycapital.com/
Chapters:
[0:00] Introduction to Andrew's Random Ramblings + Episode sponsor: YCharts
[3:29] Investor conferences - just returned from the Planet MicroCap Showcase: VEGAS 2024 / time for a Yet Another Value conference?
[6:28] Control shareholders
[12:24] Energy drinks
[15:24] stock advertising
This episode is sponsored by our friends at YCharts
A typical day in the life of a financial advisor calls for back-to-back client meetings, juggling portfolio management, and the consistent desire to improve client relationships. YCharts’ report and proposal tools could be the missing piece to help you effectively handle these time-consuming tasks.
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Join thousands of users who rely on YCharts by leveraging personalized proposal reports to truly showcase your value add. Click the link in the show notes to start your free YCharts trial and tell them I sent you (new customers only): https://go.ycharts.com/yet-another-value

Random Ramblings May 2024: conferences, control shareholders, energy drinks and stock advertising

It's time to welcome back Chris DeMuth for his monthly state of the markets. For this April 2024 edition, Chris shares his thoughts on: the markets as we head into the Summer months, anti-trust, Capri-Tapestry anti-trust case, mergers blocked in greater frequency - has there been another time like this, and more!
For more information about Rangeley Capital, please visit: http://www.rangeleycapital.com/
Chapters:
[0:00] Introduction + Episode sponsor: Fundamental Edge
[1:57] Thoughts on markets as we finish up April and head into the Summer months
[3:47] Growth in the largest businesses in the index
[8:27] Anti-trust
[12:36] Capri-Tapestry anti-trust case
[27:38] Capri-Tapestry cont'd - market definition
[38:43] Last 6 months, 3 mergers have been challenged and blocked - ever been another time like this?
Today's sponsor: Fundamental Edge
You’ve probably heard about the Analyst Academy from Fundamental Edge by now. So instead of repeating the basics, let’s talk a minute about what the Academy is and is not.
The Analyst Academy is a practical course on the tools and skillsets required to succeed in the buy-side analyst seat. The instructors have experience from firms such as Maverick Capital, DE Shaw, Citadel, Balyasny and ExodusPoint.
But what is the Academy NOT?
It’s NOT a course on stock-picking. It IS a rigorous guide to learning a process.
It’s NOT a guide to pod shop investing. The Academy attracts a wide range of equity investors, from multi-managers to long only to family offices. Rather than teaching a particular style, Fundamental Edge equips learners with the essential skills required to hit the ground running and support their PM.
It’s NOT a financial modeling course. Modeling is, of course, part of the curriculum and plays a central role. But the Academy is more than that. It teaches idea generation, thesis communication and how to add value as an analyst. 
To learn more and access a 10% discount code, go to fundamentedge.com/YAVP

Lionel Hutz explains why Elon will own Twitter $TWTR

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