QAV America (free feed)

This week we dig into Slide Insurance Holdings (SLDE), a Florida home insurer that went from zero customers to half a million policies in a few years, and is somehow posting combined ratios that make every other insurer in the state look asleep at the wheel. We also cover Berkshire Hathaway’s latest 13F, which shows Greg Abel going heavy into US housing, bond yields creeping up, oil back above...

This week we dig into Republic Airways Holdings (RJET), a regional airline contractor that flies for United, American, and Delta under their livery while keeping a remarkably low profile. Cameron runs through the full QAV numbers, which come out strong despite a company history packed with bankruptcies, pilot shortages, disk-wiping CFOs, and a former CEO who is now running the FAA. The portfolios...

This week we dig into the colourful history of Banco Bradesco, the second-biggest private bank in Brazil and the top pick on our US buy list. Tony and Cameron run through the QAV numbers on BBDO, cover portfolio updates including a painful 23% drop in RM and a GASS scare that turned out to be nothing, and check in on UBS’s $125 million anti-money laundering fine and CVGI’s latest earnings miss....

This week we sit down with Haren Bhakta, founder of insideownership.com and creator of the Inside Ownership 100 index, to talk about why skin in the game matters more than almost any other factor in picking winning stocks. Haren walks us through the OWN ETF, his back-tested outperformance figures, and why companies like IBM, Intel, and Nike fell apart once their founders left. Tony and Cam push...

This week we do a full pulled pork on Petrobras (PBR), the Brazilian oil giant that scored a perfect 100% QAV score and promptly got added to the Lite portfolio. Cameron takes Tony on a tour through Brazilian dictatorships, the “O Petróleo é Nosso” mass movement, Operation Car Wash, and why a left-wing government drilling toward the Amazon somehow makes sense. We also check in on the state of the...

This week we do a full Pulled Pork on Telecom Argentina (TEO), a near-monopoly telco that owes much of its shine to one of the most unhinged political stories on the planet right now. Cameron walks through the Javier Milei backstory, dead dogs, clones, chainsaw economics and all, before getting into the actual numbers, which are genuinely solid. We also cover IBM’s ugly 25% overnight drop,...

This week Cameron does a full Pulled Pork on F&G Annuities and Life (ticker: FG), a Des Moines-based annuities and retirement income company that’s been through four owners in 25 years, had its share price smashed 44% from peak, and is now sitting at a QAV score of 0.862. Tony brings the context on why annuities businesses are genuinely complex to run, the tailwinds from baby boomer...

This week we dig into Kohl’s (KSS), the mid-range American department store chain that fired its CEO after just 15 weeks on the job for running a secret sweetheart deal with a former romantic partner. Tony and Cam work through the QAV scorecard, weigh up the enormous real estate portfolio sitting beneath the struggling retail business, and debate whether a Gordon Gekko moment is coming. Plus: Fed...

This week we dig into Carter Bankshares (CARE), a tiny Virginia community bank that got itself tangled up with a billionaire US senator, a Cold War bunker resort, and nearly $800 million in dodgy loans, then somehow came out the other side with $80 million in cash and a story worthy of HBO. We also cover Alan Greenspan’s passing at 100, the SpaceX float wobble, the Iran sanctions waiver, and why...

This week we dig into the SpaceX IPO numbers and they are genuinely terrifying: a Pr/OpCaf of 1,750 times, a $4.9 billion net loss, and a total addressable market pulled straight from a science fiction novel. We also cover the US-Iran deal tanking oil prices and forcing a bunch of sells across the portfolios, then Cameron does a Pulled Pork on Aeromexico (AERO), Mexico’s national airline, freshly...