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TIP837: Adobe, Lululemon, PayPal – Are our Biggest Losers a Buy Now? w/ Daniel Mahncke & Shawn O’Malley
13/08/2026 | 1h 18 mins.Daniel Mahncke and Shawn O’Malley take a trip down memory lane and look back at the pitches of the last year and a half – especially the ones that didn’t work out as hoped. Many companies that were seen as best-in-class businesses not too long ago experienced massive drawdowns in the last year. Some of them were covered on this show, and others even made it into the portfolio.
Daniel and Shawn discuss the patterns of the stocks that lost most in value, what one can learn from that, and how the market shift towards AI changed how they invest. The companies discussed today are Adobe, Lululemon, PayPal, Trade Desk, and CoStar.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:04:33) Why Lululemon had to leave the portfolio
(00:20:11) What made us sell PayPal
(00:36:08) About Adobe’s downfall and future outlook
(00:58:40) Why Trade Desk never made it into the portfolio
(01:06:53) Whether Daniel’s and Shawn’s conviction in CoStar is broken
(01:16:37) What Daniel and Shawn learned from the companies above
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
Join the exclusive The Intrinsic Value Mastermind Community.
Track The Intrinsic Value Portfolio.
Learn more about how to join us in NYC for our Intrinsic Value Conference.
Portfolio Review Submit Tool.
Pitch on Adobe.
Pitch on Lululemon.
Pitch on Paypal.
Pitch on Trade Desk.
Pitch on CoStar Group.
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:
Plaud
Plus500
Netsuite
Scribe
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.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmRWH071: Risk, Ruin, Reinvention & Resilience w/ Victor Haghani
09/08/2026 | 1h 59 mins.In this episode, William Green speaks with Victor Haghani, founder & CIO of Elm Wealth & author of The Missing Billionaires: A Guide to Making Better Financial Decisions. Victor’s journey is among the most remarkable & instructive in modern investment history. As one of the founders of Long-Term Capital Management, he experienced dazzling success & devastating failure. Today, he oversees billions of dollars using a low-cost, diversified, index-driven strategy that reflects hard-won lessons about resilience, humility, simplicity & risk management.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro(00:04:17) How Victor Haghani’s tumultuous family history shaped him.(00:14:02) What he learned as a star trader on Salomon’s famed arbitrage desk.(00:22:56) How he honed his skills by playing high-stakes games of Liar’s Poker.(00:30:35) How Long-Term Capital Management hit the jackpot—for a while.(00:46:04) How Russia’s default in 1998 sparked a cascading disaster.(00:49:18) Why he defends the fund’s enormous appetite for leverage & risk.(00:52:20) What he views as the real lessons of the fund’s collapse.(00:58:21) How the concept of expected utility can improve our financial decisions.(01:11:09) Why he fell out of love with exotica like private equity & hedge funds.(01:13:22) What troubles him about the traditional, static approach to indexing.(01:18:52) Why he favors a “dynamic asset allocation” based on risks & rewards.(01:27:21) How his firm’s current allocations reflect a wary view of US equities.(01:40:45) What he’s learned about overcoming adversity & finding happiness.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
Inquire about William Green’s Richer, Wiser, Happier Masterclass.
Victor Haghani’s investment firm, Elm Wealth.
Victor Haghani & James White’s book “The Missing Billionaires.”
Michael Lewis’ book, “Liar’s Poker.”
Roger Lowenstein’s book, “When Genius Failed.”
Daniel Gilbert’s book, “Stumbling on Happiness.”
Viktor Frankl’s book, “Man’s Search for Meaning.”
William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.
Follow William Green on X.
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.
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.
SPONSORS
Support our free podcast by supporting our sponsors:
Plaud
Plus500
Netsuite
Scribe
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.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmTIP836: Exor NV (EXO): The Massive Discount Continues To Widen w/ Kyle Grieve & Shawn O’Malley
06/08/2026 | 1h 23 mins.In today’s episode, Kyle Grieve and Shawn O’Malley analyze Exor, the Dutch holding company controlled by Italy’s Agnelli family and best known for its long-standing stake in Ferrari. They walk through Exor’s ownership of Ferrari, and what they like about Lingotto, Exor’s investing management company. Along the way, they dig into what could cause the current valuation gap to close or widen.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:03:08) Revisiting the Exor and Ferrari thesis
(00:05:06) How Exor’s stock reacted since the original purchase
(00:09:16) Why Ferrari’s stock has fallen despite strong operating results
(00:16:07) The market’s reaction to Ferrari’s new Luce model
(00:22:26) How Ferrari’s other new releases are doing
(00:45:04) Ferrari’s capital allocation, working capital, and margin trends
(00:54:05) How Ferrari’s racing program supports its brand and marketing
(00:57:18) Risks facing Ferrari from changing driving habits and tariffs
(01:13:22) Expanding on Lingotto, Exor’s growing asset management business
(01:17:44) Evaluating Lingotto’s performance, fees, and top holdings
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
Join the exclusive The Intrinsic Value Mastermind Community.
Track The Intrinsic Value Portfolio.
Learn more about how to join us in NYC for our Intrinsic Value Conference.
Portfolio Review Submit Tool.
Check out our previous Intrinsic Value breakdowns: Exor, Ferrari, Formula One Group.
Follow Kyle 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:
Plaud
Plus500
Netsuite
Scribe
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.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmTIP835: Intuit (INTU): The S&P 500's Biggest Loser w/ Shawn O’Malley & Kyle Grieve
02/08/2026 | 1h 18 mins.Shawn O'Malley and Kyle Grieve explore Intuit (ticker: INTU).
In this episode, you'll learn what narratives have underpinned the company’s more than 60% selloff, as Intuit claims the undesirable title of “worst performer in the S&P 500” this year. But is this a bargain price for a high-quality SaaS business, or a value trap? That’s the key question that Shawn & Kyle discuss, plus so much more!
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:03:48) How Intuit’s accounting software became so popular
(00:12:49) What makes QuickBooks such a great business
(00:20:54) Why Intuit is the worst performing stock in the S&P 500 this year
(00:24:05) How to think about Intuit as either a value trap or bargain
(00:38:45) Whether Intuit’s TurboTax business is resistant to AI disruptions
(01:17:02) Valuation discussion of Intuit
(01:18:55) How to model Intuit’s intrinsic value
(01:20:04) Whether Shawn & Kyle add Intuit to The Intrinsic Value Portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
Join the exclusive The Intrinsic Value Mastermind Community.
Track The Intrinsic Value Portfolio.
Learn more about how to join us in NYC for our Intrinsic Value Conference.
Portfolio Review Submit Tool.
See Shawn’s financial model for Intuit.
The Finance Corner: "Deep Dive Into Intuit".
Business Breakdowns Podcast — Intuit (2022).
Intuit’s 2025 Investor Day Presentation.
Intuit’s 2026 latest Investor Day Presentation.
Check out our previous Intrinsic Value breakdowns: Wix, Microsoft, Kelly Partners Group.
Follow Kyle 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:
Plus500
Netsuite
Shopify
Plaud
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.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmTIP834: DLocal (DLO): Multibagger Potential with Decade-Long Runway w/ Daniel Mahncke & Shawn O’Malley
30/07/2026 | 1h 22 mins.Daniel Mahncke and Shawn O’Malley take a deep dive into DLocal (NASDAQ: DLO), the first Uruguayan unicorn and the emerging markets payment provider for companies like Amazon, Uber, Spotify, Netflix, and many more. DLocal is trading at attractive multiples while growing payment volumes at over 70% and printing cash due to high operating leverage and a high-margin business model. That cash is given back to shareholders in the form of dividends and buybacks.
Daniel and Shawn discuss whether the high customer concentration and the declining take rate justify the cheap valuation or whether the market is not understanding the full potential of this emerging market jewel. In the end, Daniel values the business and decides whether DLO deserves a spot in The Intrinsic Value Portfolio.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:03:01) How DLO became the leading player in emerging markets
(00:07:14) What makes DLO’s business model stand out
(00:19:08) What two megatrends DLO benefits from
(00:28:18) Whether there is a race to the bottom with take rates
(00:56:10) How DLO compares to Western competition
(01:00:30) How DLocal distributes cash to shareholders
(01:19:00) Valuation discussion of DLO
(01:21:41) Whether DLO is valued attractively
(01:23:19) Whether Shawn and Daniel add DLO to the Intrinsic Value Portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
Join the exclusive The Intrinsic Value Mastermind Community.
Track The Intrinsic Value Portfolio.
Learn more about how to join us in NYC for our Intrinsic Value Conference.
Portfolio Review Submit Tool.
Value Investors Club Pitch on DLO.
Interview with the CEO, Pedro Arnt.
DLocal Investor Relations Podcast.
Founder and CEO Interview by Stratechery.
Check out our previous Intrinsic Value breakdowns: Visa, Amazon, Sea Limited, Mercado Libre, Shopify.
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:
Plus500
Netsuite
Shopify
Plaud
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.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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About The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network
Hosted by Stig Brodersen, William Green, Shawn O'Malley, Daniel Mahncke, and Kyle Grieve, The Investor’s Podcast has proudly reached nearly 200 million downloads, as the world's largest stock-investing focused podcast.
On the show, we study a range of businesses and their investment prospects, from Spotify to Amazon, serial acquirers like Constellation Software, deep value plays, and more, using lessons from some of the world's most famous investors, like Warren Buffett, Charlie Munger, and Howard Marks.
Leverage the lessons we learned from studying, and talking to, the world's best investors, and apply them in your own investing journey, while following along with our company case studies. For more insights on how to value companies and build a stock portfolio, you can also sign up for our free weekly newsletter.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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