Welcome back for Season 2! Explore the world of international value investing with our first guest of the season Rick Carew, former Wall Street Journal reporter and current Fordham finance professor. Listen in as he shares how to evaluate foreign companies, spot hidden opportunities, and navigate the unique risks of global markets.

First a sincere thank you to our speakers, sponsors and participants that attended the Richmond Reception and Value Cville 2026!

In our season finale episode we explore the future of digital advertising with a focus on connected TV (CTV), the role of Magnite in the ad tech ecosystem, and the impact of industry giants like Google. We discuss market trends, strategic acquisitions, and the evolving landscape of streaming and sports advertising. In this in-depth discussion, Donnie Sattar explores the evolving landscape of connected TV advertising, the strategic advantages of Magnite, and the future of programmatic ad tech. Gain insights into market dynamics, competitive moats, and the impact of regulatory changes on the industry.

Join us as we delve into the world of Nintendo with Chance Butler, a former digital detective turned savvy investor. Discover how Chance's unique investigative skills uncover Nintendo's hidden value and strategic shifts that could redefine the gaming industry. From the launch of the Switch 2 to the expanding role of Nintendo's intellectual property in movies and theme parks, this episode reveals how these elements contribute to a resilient, high-margin ecosystem. Perfect for investors and gaming enthusiasts alike, this conversation offers insights into Nintendo's enduring appeal and future growth potential.

Jeff and Donnie sit down with Tyler Brown from Markel Group to explore the values behind one of America’s most admired companies. Tyler, a member of Markel’s investment team and its head of investor relations, shares how the company’s principles—rooted in a simple yet powerful 1986 creed—guide its decisions, long-term thinking, and focus on community. From Markel’s origins in 1930 to its evolution into a diversified global holding company, you’ll learn how a small specialty insurer built an ecosystem of enduring and resilient value creation. Plus, Tyler discusses the Markel Reunion, an annual gathering that welcomes thousands of investors from around the world to Richmond, Virginia— a link to the event is in the episode description.

https://mklreunion.com/

https://www.tixtree.com/e/richmond-reception-53995daddb00

https://www.tixtree.com/e/value-cville-2026-c7abb59b36a8

valuecville.com/richmondreception

In this episode, Jeff and Donnie are joined by Hunter Hopcroft to discuss the evolving landscape of private credit, exploring its growth as an asset class, the dynamics between borrowers and lenders, and the impact of market trends and media coverage. They delve into the historical context of private credit, its relationship with private equity, and the future outlook for investors. The conversation emphasizes the importance of understanding the nuances of private credit and its role in modern finance.

Episodes Sources:

• From Investment to Savings - The marriage of private credit and insurance
• Capital Migration - How public markets dysfunction had led to private credit growth
• Alpha ex-Ante - How private credit builds alpha into the term structure
• Hippocratic Capital Allocation - The TDF problem

Jeff and Donnie welcome David Bastian, a portfolio manager at Kingdom Capital. They discuss the intricacies of the non-woven materials industry, focusing on the merger between Berry Global and Glatfelter, which formed Magnera. The conversation delves into the challenges and opportunities within the industry, including overcapacity, tariff impacts, and the potential for synergies and cost savings. David shares insights into the company's strategy for deleveraging and the importance of maintaining a competitive edge in a capital-intensive market.

Dive into the world of investment with Steve Gorelik from Firebird Management! Discover their unique strategies and insights into banking sectors in Kazakhstan and Georgia. Learn about the profitability of banks, economic landscapes, and the future of international investments.

The episode explores the intersection of investing and philosophy, focusing on the role of AI in investment decision-making, the importance of understanding value beyond just financial metrics, and the emotional journey of investing.

Jeff and Donnie are joined by Shawn O'Malley from the Investors Podcast Network to delve into the intricacies of Uber's business model. They explore the challenges and opportunities Uber faces in the evolving landscape of autonomous vehicles, advertising, and global expansion. Shawn shares insights from his experience with the Intrinsic Value Podcast, discussing Uber's journey to profitability and the potential impact of autonomous technology on its future. Tune in for a thought-provoking discussion on the dynamics of ride-hailing and the strategic moves that could shape Uber's trajectory.

In Part 2, Jeff and Donnie discuss the evolution of value investing with expert Paul Johnson. They explore the impact of artificial intelligence on investment strategies, the importance of relationships in investing, and the philosophical reflections on wealth and its implications for life choices.

Paul Johnson's Collection:

https://m.youtube.com/playlist?list=PL_Mx9Q1Wge6L-5ZHLAOhc4H1wmGQoRlsB