Masters of Conviction

Aron English, founder and portfolio manager of 22NW, returns to Masters of Conviction to discuss his latest high-conviction idea: Stoneridge (NYSE: SRI). Once an overlooked auto-supplier, Stoneridge is transforming into a vision-technology company through its MirrorEye system — a product poised for explosive growth. David and Aron break down the deep-value setup, upcoming catalysts, and why this small-cap stock could be trading at just 3–4× forward EBITDA within two years.

Episode 8 features a detailed conversation with Angela Selden, CEO of American Public Education Inc. (NASDAQ: APEI). We discuss the growth drivers across all three of APEI’s institutions, from the strong demand for nurses to the operating leverage that comes with scale. The conversation concludes with why APEI may represent a rare market opportunity where revenue growth, margin expansion, and valuation upside converge at the same time.

In this podcast, I lay out my investment case for American Public Education Inc. (APEI), focusing on the thematic trends driving its growth, along with the company's valuation and future growth potential.

In Episode 6, I interview Richard Heo, CEO of Gulf Island Fabrication. In this all-encompassing conversation, we discuss the business in great detail; most importantly the process improvements which put the company on a steady path to generate sustainable cash flow, grow topline and leverage Gulf Island's fixed corporate cost structure.

This is a wide-ranging and informative conversation with David Watson, CEO of Argan Inc. (AGX).  In this interview, we discuss among other things, key business drivers of current and future growth, the competitive landscape within the business segments they operate as well as the company's capital allocation strategy.

Michael Melby on Energy company - Unit Corporation (UNTC)

In this Episode, Michael Melby of Gate City Capital Management discusses his investment thesis in energy company Unit Corp. (UNTC).  We discuss the business drivers and cash flow assumptions on all three segments of UNTC's business in order to determine its intrinsic value.

In Part 1 of this two-piece interview, Aaron walks us through his journey into a relatively young investment space and why he believes it presents the single best investment opportunity he's ever seen.  He discusses the key drivers, dynamics and nuances of the industry and sets the table for our Part II interview, which will cover his highest conviction investment idea.  

Aron English on Sterling Construction (STRL)

In this conversation with Portfolio Manager Aron English, we discuss his top pick, Sterling Construction (STRL).  We dive into Sterling Construction's business model, Aron's cash flow and earnings assumptions as well as his investment premise.