The Value Investing Podcast with Fexingo: Buffett, Graham, and Long-Term Stock Picking

With JPMorgan and Bank of America shares surging in mid-2026, Lucas and Luna unpack the case for value investors wading into big banks. They examine how higher interest rates boost net interest income, why loan loss reserves are manageable, and what the Warren Buffett backing of Berkshire Hathaway's bank holdings signals. Key metrics like ROE, efficiency ratio, and tangible book value are discussed, alongside regulatory tailwinds from the Warsh Fed. A concrete look at why value investors are finding banks attractive despite past skepticism.

#ValueInvesting #BankStocks #JPMorgan #BankOfAmerica #BerkshireHathaway #InterestRates #NetInterestIncome #ROE #EfficiencyRatio #TangibleBookValue #FedPolicy #KevinWarsh #Financials #Investing #StockMarket #FexingoBusiness #BusinessPodcast #ValueInvestingPodcast

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In episode 110 of The Value Investing Podcast, Lucas and Luna drill into the price-to-book ratio, a classic value metric that's been quietly making a comeback in 2026 after years of being dismissed during the growth era. They walk through a real-world example using Bank of America, which trades at a price-to-book ratio below one point zero, and contrast it with JPMorgan's premium multiple. They also discuss how the price-to-book ratio can mislead investors when intangible assets dominate a company's balance sheet, using a hypothetical software firm to illustrate the point. Along the way, they touch on the recent Iran war volatility that has boosted bank earnings expectations, and reference Berkshire Hathaway's massive cash position and its implications for book value. A practical, example-driven episode for anyone looking to understand when price-to-book works and when it doesn't.

#PriceToBook #ValueInvesting #BankOfAmerica #JPMorgan #BerkshireHathaway #BookValue #IntangibleAssets #Finance #Investing #StockMarket #Valuation #BenjaminGraham #FexingoBusiness #BusinessPodcast #Podcast #2026 #IranWar #BankStocks

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In episode 109, Lucas and Luna dive into the Piotroski F-Score, a nine-point checklist developed by accounting professor Joseph Piotroski to identify strong value stocks. With the S&P 500 at 7,515 and value ETFs like IWD and VTV flat over the past week, they discuss why this fundamental scorecard is especially useful in a market where cheap stocks may be value traps. Lucas walks through each of the nine criteria—from profitability trends to leverage changes to operating efficiency—and shows how applying the F-Score to a basket of high book-to-market stocks historically produced 23% annual returns. Luna challenges whether the score works in 2026's low-rate environment, and they debate its limitations for financial and commodity firms. The episode includes a practical example using Chevron (CVX), which is up 4.7% in five days, to illustrate how the F-Score flags warning signs even in a rising stock. A must-listen for value investors refining their screening process.

#PiotroskiFScore #ValueInvesting #StockScreening #JosephPiotroski #FinancialAnalysis #FundamentalAnalysis #AccountingMetrics #ValueTraps #Chevron #CVX #IWD #VTV #SP500 #Business #Finance #Investing #FexingoBusiness #BusinessPodcast

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In this episode of The Value Investing Podcast, Lucas and Luna explore the resurgence of the net-net working capital strategy in 2026. With small-cap stocks like the Russell 2000 down 1.1% over the past week and Berkshire Hathaway's Class B shares down 2.5%, value opportunities are emerging in neglected pockets of the market. Lucas explains how Benjamin Graham's original formula—current assets minus total liabilities—can still identify bargain-priced stocks when applied to small, asset-rich companies. They discuss a real-world example: a micro-cap industrial firm trading at 65% of its net current asset value, with a price-to-earnings ratio of 8. The hosts also examine why this strategy fell out of favor and how modern screeners and accounting rules have made it trickier but not impossible to apply. They caution that net-net investing requires patience, deep research, and a tolerance for volatility. Tune in for a practical guide to finding cigar-butt stocks in today's market.

#NetNetInvesting #BenjaminGraham #ValueInvesting #CigarButtStocks #SmallCapValue #Russell2000 #BerkshireHathaway #GrahamNumber #DeepValue #AssetBasedValuation #MicroCap #FinancialStatements #LiquidationValue #MarginOfSafety #FexingoBusiness #BusinessPodcast #Finance #InvestingPodcast

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In Episode 107 of The Value Investing Podcast, Lucas and Luna dive into a counterintuitive value strategy: buying stocks after dividend cuts. Using current market data — PFE at $24.17 down 42% from its peak, CVX up 4.9% in a week — they unpack how to distinguish a temporary dividend reset from a permanent capital impairment. They analyze Pfizer's 2026 dividend cut, comparing it to past cuts at GE and Bank of America, and explain why the dividend discount model becomes most useful when a company is lowering its payout. Lucas walks through three criteria for judging whether a cut is an opportunity or a value trap: free cash flow coverage, payout ratio trajectory, and management's stated reason. Luna brings the contrarian perspective on investor psychology. The episode closes with a sobering look at why dividend cuts in energy haven't materialized despite a strong run, and what that tells us about capital discipline in 2026.

#DividendCuts #ValueInvesting #Pfizer #Chevron #DividendDiscountModel #CapitalAllocation #FreeCashFlow #PayoutRatio #ContrarianInvesting #ValueTrap #GE #BankOfAmerica #EnergySector #InvestingStrategy #Finance #FexingoBusiness #BusinessPodcast #StockMarket

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In this episode of The Value Investing Podcast, Lucas and Luna break down how value investors interpret the cash flow statement—specifically the difference between reported net income and actual cash generated. They use a current example: Pfizer, trading around $24 after a tough 2025, yet generating strong operating cash flow. Lucas explains why the cash conversion ratio matters more than ever when earnings quality is questioned, referencing recent Fed rate data and the flat interest rate environment. The hosts walk through operating, investing, and financing cash flows, noting how buybacks and dividends can mask underlying cash generation. They also discuss why Berkshire Hathaway's recent dip might be tied to cash flow misunderstandings. Perfect for long-term investors who want to look beyond net income and understand the real financial health of a business. No fluff, no hype—just the tools Graham and Buffett actually used.

#CashFlowStatement #ValueInvesting #Pfizer #BerkshireHathaway #OperatingCashFlow #FreeCashFlow #CashConversionRatio #EarningsQuality #BenjaminGraham #WarrenBuffett #Finance #InvestingPodcast #LongTermInvesting #FinancialStatements #FexingoBusiness #BusinessPodcast #StockAnalysis #Accounting

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In this episode of The Value Investing Podcast, Lucas and Luna explore the enterprise multiple (EV/EBITDA) as a valuation tool for value investors in mid-2026. They discuss why P/E ratios can mislead in capital-intensive industries, walk through a real-world comparison of ExxonMobil and Chevron using current market data, and explain how enterprise multiples reveal hidden value or risk. The hosts also touch on the recent outperformance of energy stocks and what the enterprise multiple tells you that earnings per share does not. A practical guide for investors looking beyond the income statement.

#EnterpriseMultiple #EVEBITDA #ValueInvesting #ExxonMobil #Chevron #EnergyStocks #StockValuation #EarningsSeason #CapitalIntensive #PEMisleading #BalanceSheetAnalysis #Finance #Investing #FexingoBusiness #BusinessPodcast #LucasAndLuna #July2026 #PodcastEpisode105

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In this episode of The Value Investing Podcast, Lucas and Luna explore the cash conversion cycle (CCC) as a tool for identifying undervalued companies with operational efficiency. With the S&P 500 hovering around 7,575 and interest rates steady at 3.63%, they discuss why a shorter CCC signals management quality and competitive advantage. Using examples from Costco and Home Depot, they show how a negative CCC creates a free float of capital that can supercharge returns. They also touch on recent data from Exxon and Chevron, which have seen their stocks rise 1.8% and 4.9% respectively over the past five days, to illustrate how energy companies with longer cycles still generate value through other means. The episode includes a brief moment about listener support keeping the show ad-free. Tune in for a practical take on a metric that often flies under the radar of mainstream investors.

#CashConversionCycle #ValueInvesting #WorkingCapital #Costco #HomeDepot #ExxonMobil #Chevron #OperatingEfficiency #Liquidity #InventoryTurnover #AccountsReceivable #AccountsPayable #SupplyChain #Business #Finance #FexingoBusiness #BusinessPodcast #LongTermInvesting

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Lucas and Luna examine why free cash flow yield – traditionally a gold-standard metric for value investors – is being sidelined in the current market. With the S&P 500 at 7,575 and the Russell 2000 lagging at 2,978, many cheap stocks offer double-digit FCF yields that get dismissed as 'value traps.' The hosts unpack a real example from the energy sector (Chevron's 4.9% weekly gain) and a contrarian case in pharma (Pfizer at $24 with a 9% FCF yield). They explore three structural reasons for the metric's neglect: the rise of intangible-heavy business models, the Federal Reserve's steady 3.63% rate regime, and the behavioral bias against capital-intensive industries. The episode ends with a practical litmus test for when FCF yield actually signals a buying opportunity versus a liquidation story.

#FreeCashFlowYield #ValueInvesting #FCFYield #Chevron #Pfizer #ValueTrap #IntangibleAssets #FedRate #CapitalIntensive #Russell2000 #S&P500 #ContrarianInvesting #CashFlowAnalysis #DividendSustainability #FexingoBusiness #BusinessPodcast #Finance #Investing

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In this episode of The Value Investing Podcast, Lucas and Luna explore how to evaluate economic moats in the current market environment. They discuss Warren Buffett's concept of durable competitive advantages, using recent data from the S&P 500 and energy sector to illustrate moat strength. The hosts examine Chevron's 2.9% weekly gain as a case study for moat-based investing, contrasting it with Berkshire Hathaway's recent underperformance. They also touch on the Altman Z-Score as a complementary tool for moat assessment. The episode provides practical frameworks for identifying moats in banks, energy companies, and beyond, grounded in mid-2026 market conditions with the S&P 500 at 7,544 and the Dow at 52,487.

#EconomicMoat #ValueInvesting #WarrenBuffett #Chevron #BerkshireHathaway #S&P500 #AltmanZScore #CompetitiveAdvantage #EnergySector #LongTermInvesting #Moats #Finance #Business #Investing #FexingoBusiness #BusinessPodcast #StockPicking #DividendSafety

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