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

In this episode of The Value Investing Podcast, Lucas and Luna explore how the classic Graham Number works as a quick valuation screen in today's market. With the S&P 500 at 7,431 and the Russell 2000 up over 3% in the past week, they test the formula on a real stock — Bank of America, trading around $56 — and discuss why a 50-year-old metric still helps investors avoid overpaying. They walk through the calculation: earnings per share times book value per share, square root, times 22.5. They also look at when the Graham Number falls short, especially for intangible-heavy businesses. If you've ever wondered whether Benjamin Graham's toolkit still applies in a market dominated by software and AI, this episode gives you a concrete, numbers-driven answer.

#ValueInvesting #BenjaminGraham #GrahamNumber #IntelligentInvestor #BankOfAmerica #BAC #StockValuation #EarningsPerShare #BookValue #S&P500 #Russell2000 #ValueScreen #DeepValue #EquityAnalysis #Finance #Business #FexingoBusiness #BusinessPodcast

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In Episode 51 of The Value Investing Podcast with Fexingo, Lucas and Luna dive into the classic net-net working capital strategy and ask whether it still works in 2026. With small-cap value stocks surging—the Russell 2000 is up over 3% in the last five days alone—they explore how rigorous balance-sheet analysis can uncover hidden bargains. Lucas walks through a hypothetical net-net calculation using a real-world small industrial company, while Luna questions whether the strategy's heyday has passed in an era of intangible assets. They reference current data: the IWD (iShares Russell 1000 Value ETF) at $242.13, up 2% in five days, and the Russell 2000 hitting 2,944. The conversation also touches on the recent spin-off trend and how net-net principles apply to corporate divestitures. A must-listen for deep-value disciples and anyone curious about Benjamin Graham's original teachings in today's market.

#NetNetStrategy #ValueInvesting #BenjaminGraham #DeepValue #SmallCapValue #Russell2000 #IWD #SpinOffs #WorkingCapital #BalanceSheet #IntangibleAssets #StockPicking #Finance #Investing #FexingoBusiness #BusinessPodcast #LongTermInvesting #Contrarian

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In this milestone 50th episode of The Value Investing Podcast, Lucas and Luna tackle a subtle but dangerous blind spot for value investors: intangible assets. Most Graham-style screens treat R&D, software, and brand as worthless on the balance sheet — but in 2026, companies that generate real returns on those intangibles are systematically undervalued by traditional metrics. Using the current market data — with the S&P 500 at 7,431 and value stocks like Bank of America up 4.5% in five days — the hosts drill into one specific case: how pharmaceutical giant Pfizer, trading at just $26.21, may be an example of intangible value hidden in plain sight. They break down why return on tangible assets is increasingly misleading, how to adjust book value for intangibles, and why Charlie Munger's latticework of mental models applies here better than ever. No fluff, no hot takes — just a concrete framework for updating a century-old discipline.

#IntangibleAssets #ValueInvesting #Pfizer #BenjaminGraham #ROIC #Accounting #PharmaStocks #CharlieMunger #Latticework #BookValue #R&D #BrandEquity #Finance #Investing #StockMarket #FexingoBusiness #BusinessPodcast #LongTermInvesting

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In Episode 49 of The Value Investing Podcast with Fexingo, Lucas and Luna dive into the mechanics of corporate spin-offs and why they remain a fertile hunting ground for value investors in mid-2026. They walk through the recent separation of industrial conglomerate Fortive into two independent companies—a move that unlocked significant hidden value. Lucas explains the historical returns of spin-off stocks, citing a study that shows they outperform the market by an average of 10 percentage points in the first two years. Luna highlights the crucial role of institutional selling pressure, which creates temporary mispricings. They also tie in current market data: the Russell 2000 index has rallied 3.1 percent in the past five days, suggesting renewed interest in smaller, focused companies—an environment that historically benefits post-spin-off stocks. The conversation is grounded in specific numbers and real-world examples, giving listeners a concrete framework for evaluating spin-off opportunities. This episode is part of the Fexingo Business podcast network.

#ValueInvesting #SpinOffs #Fortive #CorporateRestructuring #SpinoffReturns #SmallCapValue #BenGraham #WarrenBuffett #IndexFunds #InstitutionalInvestors #Russell2000 #ActiveManagement #Finance #BusinessPodcast #FexingoBusiness #InvestingStrategy #StockPicking #Divestiture

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In this episode of The Value Investing Podcast with Fexingo, Lucas and Luna break down why Bank of America is on their radar in mid-2026. With the Russell 2000 up over 3% in the last week and regional banks showing strength, BofA stands out. They analyze the bank's return on tangible equity, its sensitivity to a flat Fed funds rate, and how it compares to JPMorgan in the current environment. They also discuss the impact of the SpaceX IPO on market sentiment and why value investors should focus on tangible book value growth. Specific numbers cited include BAC's 4.5% weekly gain, the Russell 2000 at 2,944, and the Fed funds rate holding at 3.62%. A must-listen for long-term stock pickers.

#ValueInvesting #BankOfAmerica #BAC #BankStocks #FedFundsRate #Russell2000 #SmallCaps #TangibleBookValue #ROTCE #JPMorgan #SpaceXIPO #MarketSentiment #InterestRates #StockPicking #June2026 #FexingoBusiness #BusinessPodcast #Finance

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Lucas and Luna explore Charlie Munger's concept of a latticework of mental models and how Warren Buffett applies it to value investing. Using the recent SpaceX IPO as a case study — where Buffett passed on the deal — they discuss how mental models from psychology, biology, and physics help investors avoid cognitive biases and find better opportunities. Lucas shares a specific example: the availability heuristic and how it led investors to overpay for hot IPOs in 2021, while Buffett's latticework kept him disciplined. They also touch on Munger's inversion principle and how it can be used to analyze a company like Coca-Cola. The episode includes a brief listener support segment and closes with a reflection on continuous learning.

#WarrenBuffett #CharlieMunger #MentalModels #Latticework #ValueInvesting #SpaceXIPO #BehavioralFinance #CognitiveBiases #AvailabilityHeuristic #Inversion #CocaCola #BerkshireHathaway #InvestmentPsychology #LongTermThinking #FexingoBusiness #BusinessPodcast #Finance #Investing

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It's the biggest IPO in history: SpaceX set to list on the Nasdaq at a valuation north of $2 trillion. But for value investors, the stock is priced for perfection and the retail allocation is tiny. In this episode, Lucas and Luna break down what a value-oriented approach looks like for a high-growth, founder-controlled company like SpaceX. They discuss the concept of 'optionality premium,' compare it to Tesla's early days, and explain why disciplined investors might wait for the lockup expiration or look at supplier plays instead. Lucas walks through how to value a company with no direct peers, using a sum-of-the-parts analysis on Starlink, Starship, and Dragon. They also discuss what the Fed's flat rate environment means for discount rates and valuation. Tune in for a grounded, actionable take on the most hyped debut of the decade.

#SpaceX #IPO #ValueInvesting #Nasdaq #ElonMusk #Starlink #Starship #GrowthStocks #Valuation #Optionality #FedRate #DiscountRate #SumOfTheParts #LockupExpiration #SupplierPlays #Business #FexingoBusiness #BusinessPodcast

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Lucas and Luna discuss SpaceX's blockbuster IPO from a value-investing perspective. They explore how the company's capital-intensive space business, high debt load, and founder control structure interact with traditional Graham-and-Dodd valuation metrics. The hosts compare SpaceX to other capital-intensive value plays like oil majors and defense contractors, and question whether a $2 trillion market cap can be justified by discounted cash flow. They reference current market data, including the Russell 2000's recent outperformance and Berkshire Hathaway's flat price, to frame the broader opportunity set.

#SpaceX #IPO #ValueInvesting #BenjaminGraham #SpaceIndustry #CapitalIntensity #FounderLed #ElonMusk #Valuation #DCF #BerkshireHathaway #BRKB #Russell2000 #SmallCaps #MarginOfSafety #Finance #Business #FexingoBusiness

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Lucas and Luna dive into the specific value investing opportunity created by corporate divestitures in 2026. Using the recent KKR AI productivity warning as a backdrop, they examine how spin-offs, carve-outs, and asset sales create mispriced securities. Lucas explains the 'focus premium' thesis with concrete examples: how a conglomerate selling a non-core division can unlock double-digit returns for patient shareholders. They reference the current market environment—S&P 500 at 7,267, Dow near 50,000—and discuss how rising interest rates have made some divestiture deals more attractive. Luna challenges Lucas on execution risk, and they explore the role of activist investors. No abstract theory: a specific, actionable angle on a classic value strategy.

#ValueInvesting #CorporateDivestitures #SpinOffs #KKR #AIBoom #PortfolioManagement #ConglomerateDiscount #FocusPremium #ActivistInvestors #Mispricing #AssetSales #MarketDislocation #Finance #Business #FexingoBusiness #BusinessPodcast #Investing #WealthManagement

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In this episode of The Value Investing Podcast, Lucas and Luna explore why corporate spin-offs can be a goldmine for value investors. They anchor the discussion on the recent spin-off of GE Vernova from General Electric, using it to illustrate the 'spin-off effect'—where newly independent companies often trade at a discount due to forced selling by index funds and institutional mandates. Lucas explains how this creates a temporary mispricing that patient investors can exploit, citing historical examples like the spin-off of PayPal from eBay and the breakup of Abbott Laboratories. They also touch on current market conditions, noting the S&P 500's 4.2% five-day decline as of June 10, 2026, which has made spin-offs even cheaper. Lucas provides a framework for evaluating spin-offs: look for strong underlying businesses with clean balance sheets and insider buying post-separation. The episode wraps with a discussion on how to identify upcoming spin-offs and the importance of patience in realizing value.

#ValueInvesting #SpinOffs #Graham #Buffett #GEVernova #GeneralElectric #PayPal #eBay #AbbottLaboratories #Mispricing #ForcedSelling #IndexFunds #InstitutionalOwnership #InsiderBuying #S&P500 #MarketDecline #FexingoBusiness #BusinessPodcast

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