Investing Podcast

QAV America 11 – The Tesla of Oil Rigs

QAV America 11 – The Tesla of Oil Rigs

by | Jun 27, 2025 | , , , , ,

In this episode of QAV America, Cameron gives a pulled pork on Precision Drilling Corp. (PDS) — a Canadian oil services company building high-tech, remotely operated, even walking oil rigs. Think Tesla, but for shale fields. They cover the company’s innovative rig tech, impressive cash generation, and resilience through past oil busts, while also addressing its debt risks and why the market might still be gun-shy. Plus: updates on the QAV dummy portfolio (up 33% YoY), a breakdown of top performers like Willis Lease Finance (WLFC) and Foreign Trade Bank of Latin America (BLX), and a Tesla sticker that sums up the state of modern car ownership.

QAV America 10 – ORIX & The Japanese Conglomerate Discount: Value or Value Trap?

QAV America 10 – ORIX & The Japanese Conglomerate Discount: Value or Value Trap?

by | Jun 19, 2025 | , , , , ,

In this episode of **QAV U.S.**, Cameron and Tony dive deep into Japanese financial conglomerate **ORIX Corp (NYSE: IX / TYO: 8591)**—a sprawling, Berkshire-like beast with operations in leasing, insurance, private equity, energy, real estate, and even a baseball team. They discuss ORIX’s intriguing scandal history in Australia, its global diversification, and the tax nightmares of investing in PFIC-designated ADRs for U.S. citizens. The episode also covers the broader Japanese market dynamics (like stocks trading under book value), crude oil’s re-entry as a buy, and the nuances of applying the QAV system to ADRs with foreign currency reporting. As always, the show blends solid financial analysis with historical trivia, sarcasm, and irreverent humour.

QAV America 009 – Blame It on the Boogie

QAV America 009 – Blame It on the Boogie

by | Jun 11, 2025 | , , , , ,

In this episode of QAV America, Cameron and Tony dissect the surprising fundamentals of Jackson Financial (NYSE: JXN) — a life insurance and annuities company that’s quietly throwing off “truckloads of cash” despite confusing accounting quirks. Cameron explores the company’s backstory (strangely has nothing to do with the Jackson 5), explains its spin-off from Prudential, and struggles to understand how interest rates and reinsurance affect its bottom line. Tony weighs in on debt management, actuarial complexity, and where annuity products fit in the spectrum of retirement options. They also touch on the controversial new U.S. tax on foreign investors (with implications for Aussie super funds), and deliver a performance update on the QAV U.S. portfolio — up a staggering 54% since inception. This episode is nerdy, weird, and funny as hell.

QAV America 008 – Huawei to Hell: Investing When the World’s Upside Down

QAV America 008 – Huawei to Hell: Investing When the World’s Upside Down

by | Jun 4, 2025 | , , , , ,

In this week’s QAV episode, we sit down with the ever-dashing Tobias Carlisle, founder of The Acquirer’s Fund (ZIG, DEEP), author of The Acquirer’s Multiple, and deep value maverick, to dissect the state of value investing in the era of AI-driven hype. We cover the brutal cycles of deep value, AI vs. human decision-making in funds, the madness of quantum computing valuations, and how Toby’s trip to China left him unconvinced by the West’s collapse narrative. We also drill into oil, Ford ($F), and the implications of passive investing’s stranglehold on market direction. Plus, Buffett worship, civil war exit strategies, and why Americans don’t get Aussie piss-taking.

QAV America 007 – Tariffs, Towers, and the Telco Gamble in Africa

QAV America 007 – Tariffs, Towers, and the Telco Gamble in Africa

by | May 30, 2025 | , , , , ,

In Episode 7 of QAV America, Cameron and Tony unpack the rollercoaster of IHS Holding (NYSE: IHS), a telecom tower operator entrenched in the geopolitical chaos and economic turbulence of Nigeria and beyond. They dive into IHS’s financials, foreign exchange exposure, and growth prospects, all while navigating sovereign risk, coups, and currency collapse. Alongside, the duo discusses Trump’s new tariff threats, how macroeconomic noise distracts from fundamentals, and why ignoring the headlines might be the smartest investing strategy. It’s part deep dive, part reality check, and part investor therapy.

QAV AMERICA 006 – Blood on the Balance Sheet

QAV AMERICA 006 – Blood on the Balance Sheet

by | May 21, 2025 | , , , , ,

In this episode of **QAV America**, Cameron and Tony dive into the volatile world of commodities, classic value investing strategies, and a surprising value opportunity in **Ford Motor Company (F)**. They unpack how iron ore and wheat commodities are back in a buy state, dig into Rich Pzena’s investing philosophy from a **Tobias Carlisle** interview, and debate whether Ford is a deep value play or a trap. With historical nods to **Cisco (CSCO)**, **GE (GE)**, and **U.S. Steel (X)**, the episode blends macro insights, personal investing war stories, and a no-BS breakdown of Ford’s financials and risks.

QAV AMERICA 005 – Cayman Schemes and Chilean Dreams

QAV AMERICA 005 – Cayman Schemes and Chilean Dreams

by | May 19, 2025 | , , , , ,

In this episode of QAV America, Cameron and Tony wrestle with market chaos as the US–China trade war hits pause. Cameron shares the challenges he faced creating a US buy list, digging into several interesting (and occasionally suspicious) tickers: a mortgage REIT, a Chinese fintech with a Cayman shell, and an impressively renewable-heavy Chilean utility. They debate governance red flags, explore deep value bets versus gut instinct, and examine why Enel Chile (ENIC) might be quietly powering the future.

QAV AMERICA 004 – Buffett’s Last Dance

QAV AMERICA 004 – Buffett’s Last Dance

by | May 8, 2025 | , , , , ,

In episode 4 of QAV America, Cameron and Tony dive into Warren Buffett’s retirement announcement, celebrating his monumental impact on value investing. They discuss his legacy, Berkshire Hathaway’s performance under his leadership, and his thoughts on the future of the U.S. and global markets. The episode includes personal reflections on Buffett’s influence, anecdotes from his annual meetings, and commentary on Berkshire’s strategic moves, like the recent reduction of its stake in Apple. Additionally, Tony provides a detailed analysis of the Canadian Imperial Bank of Commerce (CIBC, stock code CM), evaluating its recent performance and potential investment opportunities amidst global trade uncertainties.

QAVUS 003 – Beware Greeks Bearing Ships

QAVUS 003 – Beware Greeks Bearing Ships

by | May 2, 2025 | , , , , ,

In this episode of QAV US Edition, Cameron and Tony dissect the chaos and opportunities in the US markets. They kick off by comparing the irrational optimism in the markets to political theater, dig into key differences between US and Australian financial regulations, and discuss how these differences impact value investing with their checklist model. Cameron shares the drama of a near-instant buy-and-sell on SK Telecom ($SKM) after a data breach, and delivers a “pulled pork” deep dive on Danaos Corporation ($DAC), a Greek-based container ship owner navigating choppy geopolitical waters and tariffs. The guys debate the impact of Trump’s trade war, share buybacks, and whether free cash flow even matters in value investing.

QAVUS 002 – Markets Like Certainty

QAVUS 002 – Markets Like Certainty

by | Mar 28, 2025 | , , , , ,

In this episode of the QAV US Edition, Cameron and Tony dive into the latest performance of the US portfolio, which continues to outpace the S&P 500 with a stunning 70% return. They break down the impact of Trump’s erratic trade policies on global markets, particularly the shipping industry, and reflect on how uncertainty is roiling investor sentiment. Cameron does a “Pulled Pork” deep dive into Mexican cement giant **Cemex (CX)** — a segment that unexpectedly transforms into a passionate, trivia-filled masterclass on the history, chemistry, and environmental impact of cement. They also touch on stock performance, issues with Stockopedia data accuracy, and the curious case of ethical awards for companies that belch CO₂.