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

Lucas and Luna dive into the overlooked value opportunity in Japanese trading houses — the sogo shosha — which have been quietly restructuring and generating massive free cash flow. With the Nikkei near all-time highs but these conglomerates trading at single-digit P/E ratios and offering growing dividends, the hosts examine why Buffett invested in five of them in 2020 and whether the thesis still holds six years later. They walk through specific numbers from Mitsubishi Corporation and Mitsui & Co., and discuss the risk of Japan's corporate governance reforms stalling. A concrete look at why global value investors are circling Japan again — and whether the moment has passed or just begun.

#JapaneseTradingHouses #SogoShosha #ValueInvesting #Mitsubishi #Mitsui #WarrenBuffett #BerkshireHathaway #Japan #Nikkei #CorporateGovernance #DividendGrowth #FreeCashFlow #InternationalStocks #Finance #FexingoBusiness #BusinessPodcast #Investing #LongTermPicking

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Lucas and Luna make the case that small-cap value stocks are the most compelling opportunity in today's market. With the Russell 2000 up 3.4% in the past five days while mega-caps lag, they drill into why active managers are rotating down the market-cap ladder. Lucas walks through the historical valuation gap between large and small caps, the impact of a flat Fed funds rate near 3.6%, and the earnings cycle that typically rewards smaller companies. He highlights one underfollowed sector — aerospace suppliers — that screens cheap on price-to-book. Luna pushes back on liquidity risk and index concentration, and Lucas concedes the point before making the cyclical case. The episode closes with a practical framework for listeners who want to build a small-cap allocation without overdosing on risk.

#SmallCapValue #Russell2000 #ValueInvesting #LucasAndLuna #FexingoBusiness #BusinessPodcast #Finance #Investing #StockMarket #ActiveManagement #MarketCycles #FedPolicy #InterestRates #Aerospace #PriceToBook #PortfolioConstruction #Midcaps #EarningsCycle

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In this episode, Lucas and Luna explore why European pharmaceutical companies are emerging as a compelling value play in mid-2026. With the S&P 500 hitting new highs and US pharma giants trading at elevated multiples, European pharma stocks like Novartis, Sanofi, and Bayer offer single-digit price-to-earnings ratios and dividend yields above 4 percent. The hosts discuss how the patent cliff overhang is already priced in, why the US biotech boom is creating a spillover effect for European contract manufacturers, and how the strong dollar is adding a tailwind for US-based investors. Lucas points out that the iShares MSCI Europe Financials ETF may not be the only value opportunity across the Atlantic. Tune in for a focused look at a corner of the market that most value investors are overlooking.

#EuropeanPharma #ValueInvesting #Novartis #Sanofi #Bayer #PharmaStocks #DividendYield #PatentCliff #BiotechSpillover #StrongDollar #InternationalValue #LowPEMultiple #FexingoBusiness #BusinessPodcast #Finance #Investing #StockPicking #LongTermInvesting

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On this episode of The Value Investing Podcast, Lucas and Luna dig into Bank of America's surprising valuation story in 2026. With shares trading at just 11 times earnings and a tangible book value of $33 per share, the stock is priced for a recession that hasn't arrived. They explore CEO Brian Moynihan's steady strategy, the impact of higher interest rates on net interest income, and why BAC's deposit base and loan book make it a unique value proposition compared to JPMorgan. Along the way, they reference the recent bank rally — the S&P 500 is up 1% this week but regional banks have surged 3.4% — and ask whether the market is mispricing large-cap banks. A natural conversation about price versus value, with a specific, investable idea at its core.

#ValueInvesting #BankOfAmerica #BAC #BrianMoynihan #BankStocks #ValuePlay #Finance #Investing #StockMarket #EarningsYield #TangibleBookValue #NetInterestIncome #LargeCap #Rates #Recession #FexingoBusiness #BusinessPodcast #Podcast

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Lucas and Luna dig into midstream energy infrastructure—pipelines, storage, and export terminals—and why this overlooked corner of the market is throwing off double-digit free cash flow yields while trading at single-digit earnings multiples. They anchor the conversation around a specific operator in the Permian Basin, referencing the recent pullback in energy equities (ExxonMobil down 3.5% over the past five days, Chevron down 1.5%) and the broader value rotation into small caps (Russell 2000 up 3.4% in the same window). The hosts explain why midstream companies benefit from fee-based revenue models that insulate them from oil price volatility, and they compare the current setup to the post-2020 recovery period. They also touch on the implications of APEC trade tensions for energy exports and the risk of regulatory changes. The episode includes a brief, natural donation segment near the end where Lucas mentions listener support via buy me a coffee dot com slash fexingo keeps the show ad-free. Closes with a question about whether midstream's structural advantages are durable or cyclical.

#MidstreamEnergy #ValueInvesting #EnergyInfrastructure #PermianBasin #FreeCashFlow #PipelineStocks #DividendStocks #EnergySector #CommodityIndependence #EnterpriseProductsPartners #LucasAndLuna #Business #Finance #Investing #FexingoBusiness #BusinessPodcast #TheValueInvestingPodcast #BuffettGrahamLongTerm

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While megabanks like JPMorgan and Bank of America have rallied on higher rates, regional banks have been left for dead. Lucas and Luna examine why a basket of super-regional banks may trade at bargain valuations despite improving fundamentals. They discuss the specific headwinds these banks face, from commercial real estate exposure to regulatory uncertainty, and whether the market's pessimism is overdone. Drawing on Buffett's historical approach to bank investing and recent moves by activist investors in the space, they make the case that selective regional bank stocks could offer a compelling risk-reward profile for patient value investors. The episode explores why the market may be mispricing these assets and what catalysts could unlock value. Tune in for a deep dive on a contrarian value play in an unloved sector.

#RegionalBanks #ValueInvesting #BankStocks #ContrarianInvesting #LucasAndLuna #FexingoBusiness #BusinessPodcast #Finance #StockMarket #Investing #Buffett #Mispricing #CET1Ratio #CommercialRealEstate #SuperRegional #ActivistInvestors #RegulatoryRisk #EarningsPower

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This episode of The Value Investing Podcast with Fexingo explores the overlooked opportunity in closed-end funds (CEFs). Lucas and Luna discuss how CEFs can trade at significant discounts to net asset value, creating a margin of safety for value investors. They examine the recent surge in risk-free Treasury yields and how that has pushed CEF discounts wider, offering potential bargains. The hosts walk through a specific example: a municipal bond CEF yielding 6.2% with a 12% discount to NAV. They also touch on the risks, including leverage and management fees. With the Fed funds rate flat at 3.64% and bond investors hunting for better opportunities, CEFs present a compelling case study in patience and discipline. No stock-picking, no momentum—just classic value investing in a wrapper most people ignore.

#ClosedEndFunds #ValueInvesting #CEFs #MarginOfSafety #NAV #DiscountToNAV #MunicipalBonds #BondInvesting #TreasuryYields #FedFundsRate #Leverage #ManagementFees #PassiveInvesting #ActiveManagement #FexingoBusiness #BusinessPodcast #Finance #LongTermInvesting

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Lucas and Luna examine a quiet phenomenon in value investing: the retail carry trade. With the Fed holding rates at 3.64 percent and the Russell 2000 up 3.4 percent in five days, small-cap value stocks are delivering both income and price appreciation. Lucas breaks down how buying beaten-down regional banks and REITs on margin—using cheap broker borrowing—has become an asymmetric bet. He cites Old National Bancorp yielding 5.2 percent and a small-cap REIT like Agree Realty at a 6 percent dividend, funded by short-term financing at 4.2 percent. Luna questions the risk if rates rise again. Lucas explains why the trade works as long as the Fed stays flat, and why institutional money is too slow to capture it. A concrete, actionable framework for listeners considering the small-cap value opportunity in late May 2026.

#ValueInvesting #RetailCarryTrade #SmallCapValue #OldNationalBancorp #AgreeRealty #RegionalBanks #REITs #DividendInvesting #FedRates #Russell2000 #MarginTrading #AsymmetricBet #PassiveIncome #Finance #InvestingPodcast #FexingoBusiness #BusinessPodcast #LongTermValue

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Lucas and Luna explore Pfizer's transformation from growth pharma giant to a value investor's dilemma. With the stock down over 40% from its pandemic peak and now yielding roughly 5%, they debate whether the selloff is overdone or justified. Lucas walks through Pfizer's pipeline math, the patent cliff on 11 drugs through 2030, and the free cash flow yield argument. Luna pushes back on the 'value trap' label, noting the company's $15 billion cost-cutting plan and recent M&A discipline. They touch on the broader rotation into value this year, with the Russell 2000 up nearly 2% in the last week alone, and ask: does a 5% dividend make Pfizer a bond replacement or a falling knife? Specific numbers include the 11 patents expiring, the 5-plus percent dividend yield, and the current P/E of roughly 9.5. No hot takes, just a sober look at one of the most debated large-cap stocks in the value universe.

#Pfizer #ValueInvesting #DividendYield #PharmaStocks #PatentCliff #FreeCashFlow #ValueTrap #Biotech #StockMarket #InvestingStrategy #LargeCap #Healthcare #Finance #FexingoBusiness #BusinessPodcast #TheValueInvestingPodcast #LucasAndLuna #LongTermInvesting

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Lucas and Luna dig into Berkshire Hathaway's latest SEC filing, which reveals a surprising new position in Perpetua Resources, an Idaho gold and antimony miner that just secured a $2.9 billion federal loan. They explore what drew Buffett to a metals play, how antimony's defense and tech applications fit the value thesis, and why this move echoes a famous Graham-era bet on silver. Plus, a look at how Perpetua's $2.9 billion loan compares to Berkshire's $5 billion stake in the company, and what it says about the intersection of value investing and national industrial policy.

#BerkshireHathaway #PerpetuaResources #GoldMining #Antimony #ValueInvesting #WarrenBuffett #SECFiling #FederalLoan #IndustrialPolicy #Commodities #Finance #Business #StockMarket #LongTermInvesting #FexingoBusiness #BusinessPodcast #LucasAndLuna #IdahoGold

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