- 1 hour 28 minutesTIVP078 (Video): Copa Holdings (CPA): Is Buffett right about Airline Stocks? w/ Daniel Mahncke & Shawn O’Malley
Daniel Mahncke and Shawn O'Malley take a deep dive into Copa Holdings — the Panama-based hub-and-spoke airline whose investment case now turns on two of the most debated questions in the stock today: whether Copa is a structural exception to the airline curse — protected by a geography no rival can copy and a cost base only a handful of carriers in the world can match — or whether even the best airline in the Americas eventually gets pulled into the same gravity that has destroyed value for nearly every other carrier.
Some investors believe Copa is a structural exception the market consistently underprices because it's lumped in with the broader sector, with a Panama hub at the geographic center of the hemisphere that lets it serve 85 destinations using nothing but single-aisle 737s, a sub-6¢ ex-fuel cost base only Ryanair, Wizz Air, and a couple of others can match, a 99.8% completion rate that turns the "missed flight" tax hammering other carriers into one of Copa's structural cost advantages, and a 38-year CEO who has refused to expand into Europe or chase growth at any price.
Join Daniel Mahncke and Shawn O'Malley as they work through whether Copa's hub-and-spoke economics are genuinely uncopiable or just holding off the gravity that has eventually captured nearly every other airline, examine what Copa's structural advantages actually look like in 2026 versus the "all airlines destroy capital" narrative the market still anchors to, and assess whether Copa Holdings deserves a spot in The Intrinsic Value Portfolio.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:00:47) Why airlines are such a tough business to be in
(00:02:49) What Buffett and other superinvestors think
(00:16:05) Why Copa is different than other airlines
(00:30:41) How being the best-in-class business can change the investors’ outcome
(00:36:37) How Copa built its moat
(00:55:35) How Copa can defend its moat
(01:17:25) Valuation discussion of Copa
(01:19:47) Whether Copa is valued attractively
(01:22:31) Whether Shawn and Daniel add CPA to the Intrinsic Value Portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join the exclusive TIP Mastermind Community.
- Track The Intrinsic Value Portfolio.
- Try out our Portfolio Review Submit Tool.
- Check out the Value Investor Club Article.
- Read the Asymmetric Edge Substack Article.
- Warren Buffett on the Airline Industry in his Annual Letters.
- Follow Shawn on X and LinkedIn.
- Follow Daniel on X and LinkedIn.
- Check out our previous Intrinsic Value breakdowns: Uber, Nike, Reddit, Nintendo, Airbnb, AutoZone, Alphabet, Ulta, John Deere, Madison Square Garden Sports.
- Related books mentioned in the podcast.
- Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
- Get smarter about valuing businesses through The Intrinsic Value Newsletter.
- Check out The Investor’s Podcast Starter Packs.
- Follow our official social media accounts: X | LinkedIn | Facebook.
- Try our tool for picking stock winners and managing our portfolios: TIP Finance.
- Enjoy exclusive perks from our favorite Apps and Services.
- Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS
Support our free podcast by supporting our sponsors:
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
21 June 2026, 9:00 am - 1 hour 21 minutesTIVP077 (Video): QXO (QXO): Can One of the World's Best Consolidators Strike Lightning Again? w/ Kyle Grieve & Shawn O'Malley
Kyle Grieve and Shawn O’Malley analyze QXO, the ambitious building-products distribution company led by serial industry consolidator Brad Jacobs, a man who has turned multiple boring industries into extraordinary wealth-creation machines throughout his career. Tune in as they debate whether Brad Jacobs' unparalleled track record as a capital allocator is enough to justify investing in a business that is still very much a work in progress.
IN THIS EPISODE YOU’LL LEARN: (00:00:00) Intro (00:01:19) How Brad Jacobs built multiple billion-dollar companies from scratch (00:05:05) The structure QXO used to go public fast (00:06:21) How Beacon Roofing was acquired despite a poison pill defence (00:10:44) What Kodiak added to QXO's geography and product mix (00:14:03) Why the TopBuild deal is a game-changer for margins (00:25:52) How QXO plans to unlock synergies across its portfolio (00:40:56) Why Jacobs' approach to dilution mirrors Henry Singleton's playbook (00:53:11) About the thickness of QXO's competitive moat (01:03:08) The three biggest risks that could derail QXO's vision (01:06:24) Valuation: What bull, base, and bear cases reveal about fair value (01:14:08) Intrinsic value of QXO (01:14:26) Whether Kyle and Shawn will add QXO to the Intrinsic Value Portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join the exclusive TIP Mastermind Community.
- Track The Intrinsic Value Portfolio.
- Brad Jacob’s first book, How to Make A Few Billion Dollars.
- Brad Jacob’s follow-up book, How to Make A Few More Billion Dollars.
- Listen to Brad Jacob’s interview with David Senra.
- Follow Kyle on X and Linkedin.
- Follow Shawn on X and Linkedin.
- Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
- Get smarter about valuing businesses through The Intrinsic Value Newsletter.
- Check out The Investor’s Podcast Starter Packs.
- Follow our official social media accounts: X | LinkedIn | Facebook.
- Try our tool for picking stock winners and managing our portfolios: TIP Finance.
- Enjoy exclusive perks from our favorite Apps and Services.
- Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS Support our free podcast by supporting our sponsors:
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
14 June 2026, 9:00 am - 1 hour 20 minutesTIVP076 (Video): Grab Holdings (GRAB): Why Uber Surrendered Southeast Asia w/ Daniel Mahncke & Shawn O’Malley
Shawn O'Malley and Daniel Mahncke explore Grab Holdings (ticker: GRAB).
In this episode, you'll learn how Grab was able to quickly grow across eight countries in Southeast Asia, and what local adaptations they made to outmaneuver Uber, which eventually ceded its entire market share to Grab.
IN THIS EPISODE YOU’LL LEARN: (00:00:00) Intro (00:03:34) How Grab was able to outcompete Uber (00:11:18) What unique advantages Grab has been able to take advantage of in Southeast Asia (00:13:36) Why Grab’s lending business fits so naturally into its flywheel (00:59:13) What are the biggest risks facing the company (00:43:03) Why Grab’s profit margins are inflecting so dramatically, and where they could land (01:04:12) What makes Southeast Asia such an appealing market to invest in long-term (01:12:20) How to think about Grab’s intrinsic value and attractiveness as an investment (01:15:13) Whether Shawn and Daniel decide to add Grab to the Intrinsic Value Portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- The Investors Podcast Network is excited to debut a new community known as The Intrinsic Value Mastermind for investors to learn, share ideas, network, and join calls with experts: Apply to join!
- Track The Intrinsic Value Portfolio.
- Compound with Rene’s deep dive into Grab.
- Listen to Shawn & Daniel’s podcast on Uber.
- Read Shawn’s newsletter on Uber.
- Follow Shawn on X and Linkedin.
- Follow Daniel on X and Linkedin.
- Related books mentioned in the podcast.
- Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
- Get smarter about valuing businesses through The Intrinsic Value Newsletter.
- Check out The Investor’s Podcast Starter Packs.
- Follow our official social media accounts: X | LinkedIn | Facebook.
- Try our tool for picking stock winners and managing our portfolios: TIP Finance.
- Enjoy exclusive perks from our favorite Apps and Services.
- Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS Support our free podcast by supporting our sponsors:
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
10 June 2026, 9:00 am - 1 hour 15 minutesTIVP075 (Video): WIX: The Most Asymmetric AI Bet? w/ Daniel Mahncke & Shawn O’Malley
Daniel Mahncke and Shawn O'Malley take a deep dive into Wix.com — the Israeli website-building platform whose investment case now turns on two of the most debated questions in the stock today: whether the generative-AI wave that lets anyone spin up a site from a text prompt is the end of Wix or whether Wix is too sticky, and whether the Base 44 acquisition — Wix's bet on AI-powered app generation — is the next leg of the story or a distraction from the SMB infrastructure business the company already dominates.
IN THIS EPISODE YOU’LL LEARN: (00:00:00) Intro
(00:00:48) How Wix Was Founded
(00:23:46) Why Clients Keep Using Wix
(00:26:19) How Much of Wix Is Actually Vulnerable to AI
(00:35:32) Why Wix Is More Sticky Than It Seems
(00:37:01) Whether Vibecoding Is Likely to Disrupt Drag-and-Drop Website Building
(00:45:34) Why Base44 Could Change the Entire Investment Case
(01:01:25) How Wix Could Survive and Turn Into a Multibagger
(01:04:29) Valuation Discussion of Wix
(01:09:21) Whether Shawn and Daniel Add Wix to the Intrinsic Value Portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join the exclusive TIP Mastermind Community.
- Track The Intrinsic Value Portfolio.
- Portfolio Review Submit Tool.
- Value Investor Club Article.
- Chit Chat Stocks w/ Manuel Cunha.
- Future Investing Interview w/ Manuel Cunha.
- Rene Sellman Substack Article.
- Manuel Cunha Substack Article.
- Previous Intrinsic Value breakdowns: Figma, Microsoft, Salesforce, Adobe.
- Follow Shawn on X and Linkedin.
- Follow Daniel on X and Linkedin.
- Related books mentioned in the podcast.
- Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
- Get smarter about valuing businesses through The Intrinsic Value Newsletter.
- Check out The Investor’s Podcast Starter Packs.
- Follow our official social media accounts: X | LinkedIn | Facebook.
- Try our tool for picking stock winners and managing our portfolios: TIP Finance.
- Enjoy exclusive perks from our favorite Apps and Services.
- Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS Support our free podcast by supporting our sponsors:
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
7 June 2026, 9:00 am - 1 hour 23 minutesTIVP074 (Video): Lifco AB (LIFCO-B.ST): The Serial Acquirer Building an Unstoppable Compounding Engine w/ Kyle Grieve & Shawn O'Malley
Kyle Grieve and Shawn O’Malley analyze LIFCO, one of the world's leading industrial serial acquirers operating through three distinct divisions spanning dental supplies, demolition equipment, and niche systems solutions across Europe.
IN THIS EPISODE YOU’LL LEARN: (00:00:00) Intro (00:00:57) The fascinating history of LIFCO (00:07:13) How Carl Bennett built the DNA that still guides LIFCO's acquisition strategy today (00:08:54) Fredrik Karlsson's legendary track record and why he bought more stock after being removed (00:10:49) The three distinct business segments and how they drive growth independently (00:16:48) LIFCO's rigorous eight-step acquisition process (00:30:12) How LIFCO uses put/call options to align management incentives (00:39:07) Why niche industrial markets create natural competitive advantages that larger competitors simply ignore (00:44:11) The capital efficiency metrics that prove LIFCO's returns are sustainable and real (01:04:06) What risks could derail the business (01:09:14) Multiple valuation scenarios showing potential returns under bull, base, and bear cases (01:11:47) Intrinsic value of Lifco (01:18:03) Portfolio decision
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join the exclusive TIP Mastermind Community.
- Track The Intrinsic Value Portfolio.
- Read more on Lifco and other serial acquirer outperformers in The Compounders.
- Listen to Kyle's episode on The Compounders.
- Learn more about process power in Kyle's interview with Hamilton Helmer.
- Follow Kyle on X and Linkedin.
- Follow Shawn on X and Linkedin.
- Related books mentioned in the podcast.
- Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
- Get smarter about valuing businesses through The Intrinsic Value Newsletter.
- Check out The Investor’s Podcast Starter Packs.
- Follow our official social media accounts: X | LinkedIn | Facebook.
- Try our tool for picking stock winners and managing our portfolios: TIP Finance.
- Enjoy exclusive perks from our favorite Apps and Services.
- Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS Support our free podcast by supporting our sponsors:
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
3 June 2026, 3:52 pm - 1 hour 28 minutesTIVP073 (Video): NVR (NVR): What's Next for One of History's Greatest Compounders? w/ Kyle Grieve & Shawn O'Malley
In today's episode, Kyle Grieve and Shawn O’Malley analyze NVR, Inc., a homebuilder that has achieved incredible returns through disciplined capital allocation and aggressive share buybacks. They’ll explore NVR's differentiated business model, which helps minimize capital intensity and risk, and examine how this strategy has enabled superior returns on capital. They’ll navigate how to think of NVR through cycles and whether it’s a business that is simple to understand.
IN THIS EPISODE YOU’LL LEARN: (00:00:00) Intro (00:01:30) How NVR became a legendary share cannibal in homebuilding (00:05:05) The LPA model and how NVR de-risks traditional homebuilding (00:10:16) Why homebuilders love leverage while NVR maintains a fortress balance sheet (00:15:34) How the mortgage banking segment generates high margins (00:21:41) The history of its margin rise and stabilization (00:27:49) How counter-positioning creates competitive advantages (00:52:58) How management is aligned through ROIC incentives and deep insider ownership (01:06:15) About the cyclicality trap, homebuilders must deal with (01:18:45) The three distinct valuation scenarios and what they reveal (01:14:06) Intrinsic value of NVR (01:26:15) Whether Kyle and Shawn will add NVR to the Intrinsic Value Portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join the exclusive TIP Mastermind Community.
- Track The Intrinsic Value Portfolio.
- Read Norbert Lou’s initial NVR writeup from 100.
- Joel Greenblatt’s NVR case study.
- Follow Kyle on X and Linkedin.
- Follow Shawn on X and Linkedin.
- Related books mentioned in the podcast.
- Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
- Get smarter about valuing businesses through The Intrinsic Value Newsletter.
- Check out The Investor’s Podcast Starter Packs.
- Follow our official social media accounts: X | LinkedIn | Facebook.
- Try our tool for picking stock winners and managing our portfolios: TIP Finance.
- Enjoy exclusive perks from our favorite Apps and Services.
- Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS Support our free podcast by supporting our sponsors:
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor's Podcast Network is not responsible for any claims made by them.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
31 May 2026, 9:00 am - 1 hour 39 minutesTIVP072 (Video): Sea Limited (SE): Can Sea Limited 10x Again? w/ Daniel Mahncke & Shawn O’Malley
Daniel Mahncke and Shawn O'Malley take a deep dive into Sea Limited — the largest Southeast Asian marketplace whose investment case now turns on two of the most debated questions in the stock today: whether Shopee's dominance across Southeast Asia can hold up against TikTok Shop without margins being structurally capped near current levels, and whether Sea's expansion into Brazil, head-to-head with Mercado Libre, is the next leg of the story or a costly distraction from the markets where the company already wins.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro (00:02:29) How Sea Limited was founded (00:06:35) Which business units belong to Sea Limited (00:10:37) How a gaming business is funding Shopee and Monee (00:16:55) How Monee compared to Mercado Libre’s Mercado Pago (00:40:22) Why Shopee has become the largest e-commerce company in SEA (01:13:45) How Sea Limited’s moat looks like (01:22:47) Why Sea Limited is so strong in Brazil (01:28:58) Valuation discussion of SE (01:30:53) Intrinsic value of SE (01:31:37) Whether Shawn and Daniel add SE to the Intrinsic Value Portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join the exclusive TIP Mastermind Community.
- Track The Intrinsic Value Portfolio.
- Norges Bank Interview with SE CEO.
- Jimmy’s Journal's Article on SEA.
- RS Capital Deep Dive on SEA.
- Hayden Capital Interview with Drew Cohen.
- Hayden Capital Shareholder Letter.
- Previous Intrinsic Value breakdowns: Uber, Nike, Reddit, Nintendo, Airbnb, AutoZone, Alphabet, Ulta, John Deere, and Madison Square Garden Sports.
- Follow Shawn on X and Linkedin.
- Follow Daniel on X and Linkedin.
- Related books mentioned in the podcast.
- Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
- Get smarter about valuing businesses through The Intrinsic Value Newsletter.
- Check out The Investor’s Podcast Starter Packs.
- Follow our official social media accounts: X | LinkedIn | Facebook.
- Try our tool for picking stock winners and managing our portfolios: TIP Finance.
- Enjoy exclusive perks from our favorite Apps and Services.
- Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS Support our free podcast by supporting our sponsors:
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
24 May 2026, 9:00 am - 1 hour 18 minutesTIVP071 (Video): Formula One Group (FWONA): The Only Sports Franchise Worth Owning w/ Kyle Grieve & Shawn O'Malley
Kyle Grieve and Shawn O’Malley analyze Formula One Group, a business that commands nearly a billion global fans, generates billions in revenue from only 24 live events, and boasts free cash flow margins nearly any business would envy. They’ll trace the company’s growth history, untangle its complex capital structure, and assess its current debt situation.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro (00:01:13) How F1 generates billions of dollars from 24 live events (00:02:39) Why most sports franchises fail to produce cash flow (00:04:31) How Liberty got away from the tracking stock structure to simplify things (00:15:33) How the Concorde agreements pose risk (00:20:31) The debt structure Liberty built to help build sustainable cash flow (00:34:49) Details of F1 Group’s other surprising racing league (00:42:22) How Netflix’s streaming coverage of F1 helped grow the sport (00:54:53) Why the business remains capital light (01:03:14) Valuation discussion of F1 Group (01:04:23) How cross-promotions and synergies create exciting new growth levers (01:09:51) Intrinsic value of F1 Group (01:11:36) Portfolio decision on F1 Group
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join the exclusive TIP Mastermind Community.
- Track The Intrinsic Value Portfolio.
- Watch the video about the dealmakers behind F1’s success.
- Watch how F1 impacts local communities with its events.
- Read the book on Formula One’s history.
- Follow Kyle on X and Linkedin.
- Follow Shawn on X and Linkedin.
- Related books mentioned in the podcast.
- Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
- Get smarter about valuing businesses through The Intrinsic Value Newsletter.
- Check out The Investor’s Podcast Starter Packs.
- Follow our official social media accounts: X | LinkedIn | Facebook.
- Try our tool for picking stock winners and managing our portfolios: TIP Finance.
- Enjoy exclusive perks from our favorite Apps and Services.
- Learn how to better start, manage, and grow your business with the best business podcasts.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
17 May 2026, 9:00 am - 1 hour 32 minutesTIVP070 (Video): Microsoft (MSFT): Is Microsoft a Misunderstood AI Opportunity? w/ Shawn O'Malley & Daniel Mahncke
Daniel Mahncke and Shawn O'Malley take a deep dive into Microsoft — the $3 trillion incumbent whose entire investment thesis now hinges on two of the most contested questions in technology: whether AI will reinforce or quietly dismantle the software franchises that built the company, and whether the OpenAI partnership is the strategic masterstroke it appeared to be in 2023, or a relationship that is slowly turning from asset into liability.
IN THIS EPISODE YOU’LL LEARN: (00:00:00) Intro (00:00:40) About all major business units (00:11:19) How LinkedIn’s business works (00:17:40) How the cloud business keeps growing (00:20:32) What the future plans for gaming are (00:24:09) Why the Office products might be in danger (00:50:25) How AI is challenging Microsoft’s software (00:54:48) Who captures the most value from AI (01:22:50) Valuation discussion of Microsoft (01:26:20) Whether Shawn and Daniel add MSFT to the Intrinsic Value Portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Shawn, Kyle, Daniel, and the other community members.
- Microsoft Investor Relations.
- World Economic Forum Interview with CEO.
- Follow Daniel on X and Linkedin.
- Follow Shawn on X and Linkedin.
- Related books mentioned in the podcast.
- Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
- Follow our official social media accounts: X (Twitter) | LinkedIn | Facebook.
- Browse through all our episodes (complete with transcripts) here.
- Try Shawn's favorite tool for picking stock winners and managing our portfolios: TIP Finance.
- Enjoy exclusive perks from our favorite Apps and Services.
- Learn how to better start, manage, and grow your business with the best business podcasts.
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor's Podcast Network is not responsible for any claims made by them.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
10 May 2026, 9:00 am - 1 hour 22 minutesTIVP069 (Video): OTC Markets (OTCM): A Picks and Shovels Play in Modern Capital Markets w/ Kyle Grieve & Shawn O'Malley
Kyle Grieve and Shawn O’Malley analyze OTC Markets Group, a hidden infrastructure company that collects tolls on over 12,000 securities while operating with fewer than 130 employees. They explore why OTCM is the only viable option for small companies and international firms seeking access to the US market, and how this quasi-monopoly has generated exceptional returns without debt or excessive dilution. By the end, you'll understand the durable competitive moats protecting this business and whether the current stock price offers an attractive entry point for value investors.
IN THIS EPISODE YOU’LL LEARN: (00:00:00) Intro (00:00:42) Why OTC Markets operates as a hidden monopoly, most investors have never heard of (00:02:25) The three business segments generating recurring revenue from market infrastructure (00:08:26) How OTCM's pricing power compares to other monopolistic businesses (00:14:10) Why 130 employees can manage the infrastructure for over 12,000 securities (00:18:58) What keeps customers so loyal (00:24:28) How regulatory relationships create barriers to entry (00:47:49) The surprising reason declining subscriber counts might not be concerning (00:52:23) The exceptional unit economics that make Corporate Services so profitable (00:55:53) Why management's capital allocation approach is so different from that of typical CEOs (01:13:28) Valuation discussion of OTCM (01:15:38) Intrinsic value of OTCM (01:16:37) Whether this hidden infrastructure gem deserves a spot in your portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join The Intrinsic Value Conference in Omaha this May 1, 2026!
- Learn how to join us in Omaha for the Berkshire meeting here.
- Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Shawn, Kyle, Daniel, and the other community members.
- Track The Intrinsic Value Portfolio.
- Learn more about OTC Markets Group on their IR.
- Listen to an interview with CEO, Cromwell Coulson.
- Follow Kyle on X and Linkedin.
- Follow Shawn on X and Linkedin.
- Related books mentioned in the podcast.
- Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
- Follow our official social media accounts: X (Twitter) | LinkedIn | Facebook.
- Browse through all our episodes (complete with transcripts) here.
- Try Shawn's favorite tool for picking stock winners and managing our portfolios: TIP Finance.
- Enjoy exclusive perks from our favorite Apps and Services.
- Learn how to better start, manage, and grow your business with the best business podcasts.
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor's Podcast Network is not responsible for any claims made by them.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
3 May 2026, 9:00 am - 1 hour 36 minutesTIVP68 (Video): CoStar Group (CSGP): The Real Estate Empire Making a $5 Billion Bet w/ Shawn O'Malley & Daniel Mahncke
Shawn O'Malley and Daniel Mahncke explore CoStar Group (ticker: CSGP), the dominant provider of commercial real estate data and analytics, and assess whether the company's massive $5 billion bet on Homes.com can successfully crack the residential real estate market dominated by Zillow, or whether this ambitious expansion will destroy shareholder value.
IN THIS EPISODE YOU’LL LEARN: (00:00:00) Intro (00:01:42) Why the company has delivered nearly 60 consecutive quarters of double-digit revenue growth (00:09:17) How CoStar built a dominant, near-monopoly position in commercial real estate data and analytics (00:18:30) How CoStar generates roughly 50% profit margins on its core B2B business (00:44:12) What makes CoStar's data moat so durable and difficult for competitors to replicate (00:48:12) How the company's acquisition-driven strategy has fueled decades of growth (00:56:22) Why CoStar is investing $5 billion into Homes.com to take on Zillow and Realtor.com 00:58:21) Competitive landscape in the residential real estate marketplace (01:08:41) Whether CoStar's massive residential bet will pay off or destroy shareholder value (01:23:57) How Shawn and Daniel value CoStar and whether CSGP belongs in the portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join The Intrinsic Value Conference in Omaha this May 1, 2026!
- Learn how to join us in Omaha for the Berkshire meeting here.
- Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Shawn, Kyle, Daniel, and the other community members.
- Track The Intrinsic Value Portfolio.
- Costar pitch on the Value Investors Club.
- Drew Cohen’s podcast on CoStar.
- Follow Daniel on X and Linkedin.
- Follow Shawn on X and Linkedin.
- Related books mentioned in the podcast.
- Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
- Follow our official social media accounts: X (Twitter) | LinkedIn | Facebook.
- Browse through all our episodes (complete with transcripts) here.
- Try Shawn's favorite tool for picking stock winners and managing our portfolios: TIP Finance.
- Enjoy exclusive perks from our favorite Apps and Services.
- Learn how to better start, manage, and grow your business with the best business podcasts.
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor's Podcast Network is not responsible for any claims made by them.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
25 April 2026, 9:00 pm - More Episodes? Get the App