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T&C | Episode 22: Carnival Barkers

2021-08-05T19:36:50+00:00

We explore the cacophony emanating from the loudest voices in the room on things like meme stocks and the delta variant, and provide our own measured analysis to separate hyperbole from reality. We also explore the jaws opening between economic data and interest rates, the Fed’s conundrum, and stretched valuations for the most speculative stocks.

T&C | Episode 22: Carnival Barkers2021-08-05T19:36:50+00:00

T&C | Episode 21: Flashing is good?

2021-07-23T13:27:53+00:00

We ignore the flashing red light on the microphone, just like markets have been ignoring any number of warning signs. We discuss the bond market (or lack thereof), explore the conflicting signals sent by treasury yields, and the explore the inexplicable appetite for the currently misnamed high-yield debt. The bifurcation of equity returns between megacap and the rest is discussed, as are the potential effects of the delta variant on supply chains. We also discover Will and Adam were, unsurprisingly, both in high school Latin clubs. Caveat emptor.

T&C | Episode 21: Flashing is good?2021-07-23T13:27:53+00:00

T&C | Episode 20: Bark Twice if You’re in Milwaukee

2021-07-07T13:18:13+00:00

We bark again about the continued mania in meme stocks, as well as delve into the inflationary pressures building in certain parts of the economy. The massive flows into equities and misnamed “high yield” debt are also topics of conversation, as are looking to the late 1940s and late 1960s as potential playbooks for what might be a choppy remainder of the year.

T&C | Episode 20: Bark Twice if You’re in Milwaukee2021-07-07T13:18:13+00:00

Acacia Research: Undervalued Biotech Tentacles

2021-06-28T12:46:57+00:00

In this research note, Formidable takes a deep dive into Acacia Research Corporation (NASDAQ: ACTG), which represents an investment opportunity in secondary private equity, as well as patent litigation (its historical bailiwick). See below for the company’s mission statement, pulled from its website.

Acacia Research: Undervalued Biotech Tentacles2021-06-28T12:46:57+00:00

T&C | Episode 19: A Frugal Pair/Lumber vs. Timber/Dilution vs. Delusion

2021-06-15T20:59:11+00:00

Come aboard. We’re expecting you… We make another run after a technology glitch to discuss the Love Boat’s star-crossed investors, the knife-sharpening industry, and the strange dichotomy between market complacency as a whole versus the mania around retail trading in meme stocks. From there, we delve into a discussion of inflation as reflected in things like lumber and labor. We then debate how a trade can be both right and wrong concurrently and why capital allocation matters for companies in secular decline.

T&C | Episode 19: A Frugal Pair/Lumber vs. Timber/Dilution vs. Delusion2021-06-15T20:59:11+00:00

T&C | Episode 18: Stupider Like a Fox

2021-06-02T15:45:30+00:00

Will and Adam delve into the return of meme-stock mania and address listener feedback vis-à-vis valuations and geese. They also discuss the circular logic of inflation versus expectations, how the market interprets this, and how the real impact of inflation is often mismeasured, using candy bar sizes. No free samples of a candy line-up will be provided.

T&C | Episode 18: Stupider Like a Fox2021-06-02T15:45:30+00:00