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Welcome back to Mind Over Money. I'm Kevin Cook, your field guide and story teller for the fascinating arena of behavioral economics.
Today we also welcome back Nathan Miller, portfolio manager for Emles Advisors.
We last sat down with Nathan in September for a discussion that is still packed with timeless investing knowledge because he introduced us to his exacting methodology for picking value stocks...
Nathan's two decades doing research in and developing strategies for hedge funds led him to join Emles and launch their Alpha Opportunities ETF EOPS.
His "deep-value" active strategy doesn't go near technology stocks -- unless he's shorting them.
And in November, Nathan and his team turned up the heat on short positions like Tesla (TSLA - Free Report) and Peloton (PTON - Free Report) .
In the podcast interview with Nathan, we talk about how he caught the bulk of the declines in Tesla and Peloton as their investors got caught holding the bag at the inflection point where hot inflation and Fed hawkishness ran into ridiculous valuations and slowing economic growth.
We also spend almost ten minutes sorting out why the market is getting the Fed wrong about 6 or 7 rate hikes this year. Hint: a "soft landing" is in view, with no recession around the corner.
Signet continues to be an incredible value ignored by most of Wall Street as it has raised guidance for six consecutive quarters and trades for 6 times earnings. A $300 million share buy-back plan doesn't hurt either. Nathan explains their long-term "Brilliance" strategy.
Camping World is another monster value play as CEO Marcus Lemonis leverages the strong secular trends with folks "hitting the road" in all kinds of recreational vehicles. Nathan describes at least four other revenue streams besides selling new RVs.
And guess what else? Yep, they have the cashflow for big buybacks and a 25% dividend increase this month!
Finally, we get a ringside seat at the current hedge fund battle over Kohl's. Nathan was buying KSS shares at every good opportunity in 2021. Then the "wolf pack" of at least four fund managers put on their activist helmets to challenge CEO Michelle Gass.
Nathan gives us an inside look at this battle including the "poison pill" instituted by the board to ward off the wolves and the suspicious Kohl's corporate jet flight to Seattle (hint: who's based there?).
Best of all, he tells us what he thinks KSS is worth (it's a lot more than $55).
Don't miss this investing clinic with a battle-tested hedge fund manager who also reviews his methods and metrics for picking value stocks!
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Value Stocks vs. Ridiculously Over-valued Stocks
Welcome back to Mind Over Money. I'm Kevin Cook, your field guide and story teller for the fascinating arena of behavioral economics.
Today we also welcome back Nathan Miller, portfolio manager for Emles Advisors.
We last sat down with Nathan in September for a discussion that is still packed with timeless investing knowledge because he introduced us to his exacting methodology for picking value stocks...
Finding Value in a Sea of Bubbles: Stocks to Win When the Cloud Bursts
Nathan's two decades doing research in and developing strategies for hedge funds led him to join Emles and launch their Alpha Opportunities ETF EOPS.
His "deep-value" active strategy doesn't go near technology stocks -- unless he's shorting them.
And in November, Nathan and his team turned up the heat on short positions like Tesla (TSLA - Free Report) and Peloton (PTON - Free Report) .
In the podcast interview with Nathan, we talk about how he caught the bulk of the declines in Tesla and Peloton as their investors got caught holding the bag at the inflection point where hot inflation and Fed hawkishness ran into ridiculous valuations and slowing economic growth.
We also spend almost ten minutes sorting out why the market is getting the Fed wrong about 6 or 7 rate hikes this year. Hint: a "soft landing" is in view, with no recession around the corner.
Then we revisit his top value plays, including Signet Jewelers (SIG - Free Report) , Camping World Holdings (CWH - Free Report) , and Kohl's (KSS - Free Report) .
Signet continues to be an incredible value ignored by most of Wall Street as it has raised guidance for six consecutive quarters and trades for 6 times earnings. A $300 million share buy-back plan doesn't hurt either. Nathan explains their long-term "Brilliance" strategy.
Camping World is another monster value play as CEO Marcus Lemonis leverages the strong secular trends with folks "hitting the road" in all kinds of recreational vehicles. Nathan describes at least four other revenue streams besides selling new RVs.
And guess what else? Yep, they have the cashflow for big buybacks and a 25% dividend increase this month!
Finally, we get a ringside seat at the current hedge fund battle over Kohl's. Nathan was buying KSS shares at every good opportunity in 2021. Then the "wolf pack" of at least four fund managers put on their activist helmets to challenge CEO Michelle Gass.
Nathan gives us an inside look at this battle including the "poison pill" instituted by the board to ward off the wolves and the suspicious Kohl's corporate jet flight to Seattle (hint: who's based there?).
Best of all, he tells us what he thinks KSS is worth (it's a lot more than $55).
Don't miss this investing clinic with a battle-tested hedge fund manager who also reviews his methods and metrics for picking value stocks!