The Intrinsic Value Podcast - The Investor’s Podcast Network

Daniel Mahncke and Shawn O’Malley take a deep dive into Palantir (NASDAQ: PLTR), the data and AI platform behind everything from battlefield targeting systems to Airbus’s A350 production line, with customers including the U.S. Army, the NHS, Ferrari, and Airbus. Palantir is growing revenue at over 90%, with net dollar retention at 157% and adjusted operating margins above 60% — a Rule of 40 score of 155%, roughly double what the best software companies in the world achieve. It also trades at around 60 times sales, which is why The Economist called it possibly the most overvalued firm of all time.

Daniel and Shawn discuss whether the ontology layer is a sustainable moat now that Microsoft and Google have launched competing products, what Alex Karp and Peter Thiel’s politics mean for a company selling to Western governments, and why twenty years of losses turned into the fastest-accelerating software business on the market. In the end, Daniel values the business and decides whether PLTR deserves a spot in The Intrinsic Value Portfolio.

IN THIS EPISODE YOU’LL LEARN:

(00:00:00) Intro

(00:02:29) How Palantir’s Ontology actually works

(00:16:26) How AI turned around Palantir’s business

(00:20:59) Why Palantir has the best margins in the industry

(00:34:22) Why no one seems to be able to copy Palantir’s Ontology

(00:38:01) How Palantir grows its customer base

(01:07:36) Palantir's valuation discussion

(01:11:37) How much Palantir stock is actually worth

(01:12:52) Whether PLTR will be added to The Intrinsic Value Portfolio

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In today's episode, Kyle Grieve and Shawn O’Malley analyze Domino's Pizza, the world’s biggest pizza franchisor built on a royalty-driven, asset-light business model. They walk through Domino's shift toward franchising and away from Company-owned stores, and what that means for the company's future revenue mix and cash generation. Along the way, they dig into whether Domino's royalty engine can keep running at the pace investors have come to expect.

IN THIS EPISODE YOU’LL LEARN:

(00:00:00) Intro

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

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SPONSORS

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References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.

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After looking at companies that tanked in recent months in the last episode, Daniel Mahncke and Shawn O’Malley now take a look at the best-performing stocks of the pitches of the last two years. Google, Amazon, and Reddit are companies that generated great returns for the Intrinsic Value Portfolio, but there were also companies on the watchlist that turned into multibaggers in the past year.

Daniel and Shawn discuss the patterns of the stocks that gained most in value, what one can learn from that, and how they think about selling and holding positions that went up past their fair value estimate.

IN THIS EPISODE YOU’LL LEARN:

(00:00:00) Intro

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

NEW TO THE SHOW?

SPONSORS

Support our free podcast by supporting our ⁠⁠⁠sponsors⁠⁠⁠:

References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Daniel Mahncke and Shawn O'Malley take a trip down memory lane and look back at the pitches of the last year and a half – especially the ones that didn’t work out as hoped. Many companies that were seen as best-in-class businesses not too long ago experienced massive drawdowns in the last year. Some of them were covered on this show, and others even made it into the portfolio. 

Daniel and Shawn discuss the patterns of the stocks that lost most in value, what one can learn from that, and how the market shift towards AI changed how they invest. The companies discussed today are Adobe, Lululemon, PayPal, Trade Desk, and CoStar.

IN THIS EPISODE YOU’LL LEARN:

(00:00:00) Intro

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

NEW TO THE SHOW?

SPONSORS

Support our free podcast by supporting our ⁠⁠sponsors⁠⁠:

References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

In today's episode, Kyle Grieve and Shawn O’Malley analyze Exor, the Dutch holding company controlled by Italy's Agnelli family and best known for its long-standing stake in Ferrari. They walk through Exor's ownership of Ferrari, and what they like about Lingotto, Exor’s investing management company. Along the way, they dig into what could cause the current valuation gap to close or widen.

IN THIS EPISODE YOU’LL LEARN:

(00:00:00) Intro

(00:00:50) Revisiting the Exor and Ferrari thesis

(00:02:51) How Exor’s stock reacted since the original purchase

(00:06:59) Why Ferrari’s stock has fallen despite strong operating results

(00:14:01) The market’s reaction to Ferrari’s new Luce model

(00:20:35) How Ferrari’s other new releases are doing

(00:42:34) Ferrari’s capital allocation, working capital, and margin trends

(00:47:48) How Ferrari’s racing program supports its brand and marketing

(00:50:59) Risks facing Ferrari from changing driving habits and tariffs

(01:07:30) Expanding on Lingotto, Exor’s growing asset management business

(01:12:00) Evaluating Lingotto’s performance, fees, and top holdings

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

NEW TO THE SHOW?

SPONSORS

Support our free podcast by supporting our sponsors:

References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.

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Shawn O'Malley and Kyle Grieve explore Intuit (ticker: INTU).

In this episode, you'll learn what narratives have underpinned the company’s more than 60% selloff, as Intuit claims the undesirable title of “worst performer in the S&P 500” this year. But is this a bargain price for a high-quality SaaS business, or a value trap? That’s the key question that Shawn & Kyle discuss, plus so much more!

IN THIS EPISODE YOU’LL LEARN:

(00:00:00) Intro

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

NEW TO THE SHOW?

SPONSORS

Support our free podcast by supporting our ⁠⁠sponsors⁠⁠:

References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Daniel Mahncke and Shawn O'Malley take a deep dive into DLocal (NASDAQ: DLO), the first Uruguayan unicorn and the emerging markets payment provider for companies like Amazon, Uber, Spotify, Netflix, and many more. DLocal is trading at attractive multiples while growing payment volumes at over 70% and printing cash due to high operating leverage and a high-margin business model. That cash is given back to shareholders in the form of dividends and buybacks.

Daniel and Shawn discuss whether the high customer concentration and the declining take rate justify the cheap valuation or whether the market is not understanding the full potential of this emerging market jewel. In the end, Daniel values the business and decides whether DLO deserves a spot in The Intrinsic Value Portfolio.

IN THIS EPISODE YOU’LL LEARN:

(00:00:00) Intro

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

NEW TO THE SHOW?

SPONSORS

Support our free podcast by supporting our ⁠sponsors⁠:

References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

In today's episode, Kyle Grieve and Shawn O’Malley analyze Perimeter Solutions, a niche industrial conglomerate built by Transdigm's legendary founder Nick Howley using the same playbook that turned Transdigm into a multi-decade compounder. They break down how the company operates two very different segments, from wildfire retardants and airbase logistics to specialty chemicals and precision medical manufacturing equipment, each built around sticky, mission-critical customer relationships. They’ll also cover the company's acquisition strategy, its unusual founder's advisory fee, and the debt and litigation risks that complicate an otherwise compelling capital allocation story.

IN THIS EPISODE YOU’LL LEARN:

(00:00:00) Intro

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

NEW TO THE SHOW?

SPONSORS

References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

In today's episode, Kyle Grieve and Shawn O’Malley analyze Fairfax Financial, the insurance conglomerate that Prem Watsa built from a near-bankrupt trucking insurer into a compounding machine often compared to Berkshire Hathaway. They break down Fairfax's insurance and non-insurance segments, its use of float, and the capital allocation moves, from acquisitions to buybacks, that have driven decades of growth. The conversation also covers Fairfax's competitive advantages, key risks such as catastrophe exposure and succession, and whether the business remains an attractive opportunity today.

IN THIS EPISODE YOU’LL LEARN:

(00:00:00) Intro

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

NEW TO THE SHOW?

SPONSORS

References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Daniel Mahncke and Shawn O'Malley take a deep dive into Pinduoduo (NASDAQ: PDD), the Chinese retail giant that has overtaken local competitors like Alibaba and JD.com and expanded internationally with Temu, which has become the most-downloaded e-commerce app in the world. They discuss how to think about the lack of disclosures and what the margin decline and growth deceleration mean for the business going forward. But also whether this presents an exceptional buying opportunity at a single-digit earnings multiple and about 60% of the company’s market capitalization in cash.

Daniel and Shawn also discuss how the Chinese e-commerce market compares to international equivalents and what those differences mean for the profitability of the e-commerce model in general. In the end, Daniel values the business and decides whether PDD deserves a spot in The Intrinsic Value Portfolio.

IN THIS EPISODE YOU’LL LEARN:

(00:00:00) Intro

(00:10:55) How PDD became one of China’s leading marketplaces

(00:19:21) What makes PDD’s business model stand out

(00:23:06) How PDD compares to Chinese competition

(00:31:10) What makes China’s e-commerce market different

(00:32:26) What happened to margins and growth

(00:47:51) How Temu revolutionized international e-commerce

(01:15:22) Valuation discussion of PDD

(01:20:52) Whether PDD is valued attractively

(01:23:21) Whether Shawn and Daniel add PDD to the Intrinsic Value Portfolio

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

NEW TO THE SHOW?

SPONSORS

Support our free podcast by supporting our sponsors:

References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm