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

In episode 101 of The Value Investing Podcast, Lucas and Luna explore return on invested capital (ROIC) as a core metric for identifying durable competitive advantages. They anchor the discussion in current market conditions—with the S&P 500 at 7,544 and Berkshire Hathaway down 2.4% in the past week—and contrast ROIC with the price-to-earnings ratio. Using Coca-Cola and a regional bank as examples, they explain why high ROIC companies compound better over time. The hosts also touch on recent news about prediction markets and insider trading concerns, connecting it to the importance of focusing on fundamentals. A natural donation segment appears near the end, highlighting that listener support via buy me a coffee dot com slash fexingo keeps the show ad-free. The episode closes with a reflective question about how ROIC can help investors avoid value traps in the current high-valuation environment.

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For the 100th episode of The Value Investing Podcast, Lucas and Luna mark the milestone by examining the energy sector's resurgence in mid-2026. With Chevron up 6.2% and Exxon up 3.6% over the past five days, the hosts dissect how traditional value metrics like owner earnings and price-to-book apply to Big Oil today. They contrast the Buffett playbook—Berkshire's 2020 exits from Chevron—with the current rally driven by supply constraints and elevated free cash flow yields. A close look at the 'value trap vs. cyclical value' question, using real-time data from July 9, 2026. Plus, a brief acknowledgment of listener support that keeps the show ad-free.

#ValueInvesting #EnergyStocks #Chevron #ExxonMobil #BerkshireHathaway #OwnerEarnings #FreeCashFlow #CyclicalValue #OilAndGas #MarketData2026 #IWD #VTV #PriceToBook #FexingoBusiness #BusinessPodcast #Episode100 #InvestingStrategy #SupplyConstraints

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In this episode of The Value Investing Podcast with Fexingo, Lucas and Luna revisit Benjamin Graham's net net working capital strategy — buying stocks trading below their current assets minus total liabilities. With the Russell 2000 down 1.9 percent over the past five days and small-cap valuations compressed, they drill into why the net net approach is resurfacing in 2026. They walk through a real hypothetical: a micro-cap trading at $4.50 with $6.20 in net net working capital per share, citing a 37 percent margin of safety. Lucas explains the screening criteria — price-to-net-current-asset-value below 0.67, positive operating cash flow, and market cap under $300 million — while Luna challenges the practicality of holding dozens of thinly traded positions. They also touch on Michael Burry's recent bet on sportsbooks as a contrarian signal, and reference the flat Fed funds rate at 3.63 percent. No fluff — just one concrete value strategy you can research tonight.

#NetNetWorkingCapital #BenjaminGraham #ValueInvesting #DeepValue #SmallCap #MicroCap #MarginOfSafety #StockScreening #MichaelBurry #Contrarian #Russell2000 #FedFundsRate #CashFlow #Finance #Investing #FexingoBusiness #BusinessPodcast #ToddCombs

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In this episode, Lucas and Luna dig into a subtle but crucial concept for value investors: owner earnings. Warren Buffett popularized the idea that a company's true earnings power isn't captured by net income or even free cash flow alone. They walk through the actual formula, using ExxonMobil's latest annual report as a real-world example—highlighting how maintenance capex differs from growth capex and why the distinction matters for valuation. With the S&P 500 near 7,500 and value stocks showing strength, they discuss when owner earnings can signal a margin of safety and when it's just accounting gymnastics. If you've ever wondered why Buffett looks at earnings differently than Wall Street analysts, this episode gives you the framework.

#OwnerEarnings #WarrenBuffett #ValueInvesting #ExxonMobil #FreeCashFlow #MaintenanceCapex #GrowthCapex #IntrinsicValue #MarginOfSafety #BerkshireHathaway #XOM #FinancialAnalysis #StockPicking #Finance #Investing #FexingoBusiness #BusinessPodcast #TheValueInvestingPodcast

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In this episode of The Value Investing Podcast, Lucas and Luna explore the Owner Earnings Ratio, a metric popularized by Warren Buffett as a more honest measure of a company's true profitability than net income. Using today's market data including Berkshire Hathaway at $504.00 and the S&P 500 at 7,504, they walk through how to calculate owner earnings from cash flow statements, why it matters for capital-intensive businesses, and how the ratio can help avoid 'earnings mirages.' They contrast ExxonMobil's recent capital spending with Chevron's, and discuss a concrete example from an old Buffett letter. A practical episode for value investors looking beyond GAAP earnings.

#ValueInvesting #OwnerEarnings #WarrenBuffett #CashFlow #BerkshireHathaway #ExxonMobil #Chevron #S&P500 #Depreciation #CapitalExpenditure #EarningsMirage #IntrinsicValue #LongTermInvesting #FinancialStatements #BusinessPodcast #Finance #FexingoBusiness #InvestingPodcast

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Lucas and Luna explore why the Altman Z-Score, a classic bankruptcy-risk metric from 1968, is gaining new relevance in mid-2026. With the Fed holding rates at 3.63% and markets near all-time highs — the S&P 500 at 7,537 and the Dow at 53,056 — the hosts examine how the Z-Score helps value investors spot hidden stress in seemingly healthy companies. They walk through the five ratios that make up the score, using Pfizer as a real-world example: the drug giant's stock has fallen 2.7% in the past five days and trades well below book value, raising questions about its financial resilience. Lucas explains why a Z-Score below 1.8 signals distress, while Luna pushes back on the metric's limitations for large-cap stocks. The episode closes with a practical takeaway: combining the Z-Score with the Piotroski F-Score for a more complete picture.

#AltmanZScore #ValueInvesting #BankruptcyRisk #FinancialDistress #Pfizer #PFE #SP500 #DowJones #FedRates #StockAnalysis #CreditRisk #BalanceSheet #InvestingStrategy #RiskManagement #FexingoBusiness #BusinessPodcast #Finance #LongTermInvesting

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In this episode, Lucas and Luna explore how value investors are adapting their approach to dividend stocks in a 3.63% Fed Funds rate environment. They examine why traditionally defensive sectors like utilities and consumer staples are now competing directly with risk-free Treasury yields, and how the 'bond proxy' framework forces investors to rethink what counts as a safe income stream. Lucas walks through the math: if a stock yields less than the ten-year Treasury, what is the investor actually being compensated for? They discuss why companies like JPMorgan and Bank of America have outperformed the broader market this week, and how rising rates have reshaped the dividend growth vs. yield debate. The episode contrasts the old Graham-era logic of holding high-yield blue chips with a more modern, rate-aware lens. Listeners walk away with a concrete framework for evaluating dividend-paying stocks not just on payout ratio or growth, but on the opportunity cost of capital in a higher-for-longer rate world. A natural donation segment ties the discussion to listener support.

#ValueInvesting #DividendStocks #BondProxy #FedFundsRate #IncomeInvesting #JPMorgan #BankOfAmerica #TreasuryYields #RateEnvironment #DefensiveStocks #DividendYield #OpportunityCost #BenjaminGraham #PortfolioStrategy #Finance #Investing #FexingoBusiness #BusinessPodcast

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Lucas and Luna dive into the Dividend Discount Model, a classic valuation tool that has quietly returned to relevance as dividend payers have outperformed growth stocks so far in 2026. They walk through a real-world example: a boring regional bank trading at 12 times earnings with a 4.5% dividend yield, showing how DDM reveals whether the market is pricing in a dividend cut or a long-term payout growth story. Along the way, they discuss the model's weaknesses - especially its sensitivity to the discount rate in a flat 3.63% Fed funds environment - and why John Burr Williams, the original DDM theorist, still matters. No spreadsheets required, just one concrete calculation that makes abstract theory tangible for anyone who holds dividend-paying stocks.

#DividendDiscountModel #ValueInvesting #JohnBurrWilliams #IntrinsicValue #RegionalBanks #DividendYield #FedFundsRate #2026Markets #LongTermInvesting #StockValuation #Finance #Investing #FexingoBusiness #BusinessPodcast #Podcast #Buffett #Graham #DDM

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In this episode of The Value Investing Podcast with Fexingo, Lucas and Luna explain how value investors can use the Graham Number in the current market environment of July 2026. With the S&P 500 at 7,483 and small caps lagging, they walk through a concrete example: a hypothetical company with trailing earnings per share of $2.50 and book value per share of $20, yielding a Graham Number of $35. They discuss why the Graham Number is a conservative screening tool, not a precise valuation, and compare it to today's median price-to-book ratio of around 2.5. The hosts also touch on how the Graham Number's inputs—earnings and book value—have changed in recent years, and why it still matters for bargain hunters. No fluff, just practical value investing wisdom for 2026.

#GrahamNumber #BenjaminGraham #ValueInvesting #IntrinsicValue #StockPicking #EarningsPerShare #BookValue #MarginOfSafety #S&P500 #SmallCaps #Russell2000 #PriceToBook #ValueStocks #Finance #Investing #FexingoBusiness #BusinessPodcast #LongTermInvesting

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In Episode 92 of The Value Investing Podcast with Fexingo, Lucas and Luna explore the stock buyback yield as an underappreciated metric for value investors. They anchor the discussion with Berkshire Hathaway's recent buyback activity—$5.2 billion in Q2 2026—and compare it to JPMorgan's buyback yield. The hosts explain how to calculate buyback yield, why it matters more than raw buyback dollars, and when it signals management discipline versus overconfidence. They also touch on the current market context, with the S&P 500 up 1.8% over the past week and Berkshire's stock at $507.78 per share. A natural mid-episode donation segment highlights listener support via buymeacoffee.com/fexingo. No fluff, no pitch—just practical value investing analysis.

#ValueInvesting #StockBuybacks #BuybackYield #BerkshireHathaway #JPMorgan #LucasAndLuna #Fexingo #BusinessPodcast #Finance #InvestmentStrategy #ShareholderYield #CapitalAllocation #Buffett #Graham #LongTermInvesting #EarningsYield #CashFlow #MarketAnalysis

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