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Value investing in the digital age, earnings power & tech moats | Interview w/ Adam Seessel
Manage episode 500236489 series 3616097
In this episode, we sit down with Adam Seessel, author of Where the Money Is and Founder and Managing Member, Gravity Capital Management, to unpack how value investing has evolved in the digital age.
Adam shares his personal journey from journalism to Wall Street, and how it shaped his unique approach to investing. We dive into his "Value 3.0" framework, explore the pitfalls of outdated accounting rules, and learn how to spot real earnings power in modern tech companies.
We also touch on:
- Why Amazon’s margins are misleading (and what to do about it)
- The difference between milking a business and building one
- How to assess management without falling for surface-level signals
- Whether we’re heading into a Value 4.0 era with AI
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Disclaimer:
Nothing in this podcast can be considered financial advice. This is for educational purposes only. We may hold positions in the businesses discussed. Do your own research.
Chapters
1. Introduction and Background (00:00:00)
2. The Importance of Research in Investing (00:04:22)
3. Value Investing in the Digital Age (00:12:19)
4. The BMP Checklist for Investment Decisions (00:18:43)
5. Management and Long-Term Value (00:36:45)
6. Evaluating Management Effectiveness (00:52:46)
7. Old Economic Moats in a Tech-Driven World (01:00:31)
52 episodes
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