We are pleased to bring you the 49th edition of Graham & Doddsville. This student-led investment publication of Columbia Business School (CBS) is co-sponsored by the Heilbrunn Center for Graham & Dodd Investing and the Columbia Student Investment Management Association (CSIMA). In this issue, we were lucky to be joined by five investors who have plied their craft across geographies, asset classes, and market cycles.
The first interview you'll find is with Jennifer Oppold, founderof Alpine Peaks Capital. We discussed her path to investing and her process of identifying potential long and short ideas. We also dug into her positions in IPAR (IPAR, Financial), HEICO (HEI, Financial), and Trex (TREX, Financial).
Next is with Adam Patinkin, founder ofDavid Capital Partners. We discussed how his background has helped him succeed in investing, his emphasis on catalysts in his investment philosophy, and his short position in Brown-Forman (BF.A, Financial). We also discussed his long ideas on Vistry (LSE:VTY, Financial), eDreams ODIGEO (XMAD:EDR, Financial), and Lifecore Biomedical (LFCR, Financial).
Then a fascinating interview with Freddy Brick, from Muddy Waters. We discussed his background, activism in short-selling, and Muddy Waters' short positions in Fairfax (TSX:FFH, Financial), and Blackstone Mortgage Trust (BXMT, Financial).
Then is Noah Snyder, founder of Snöboll Capital. We discuss his influences, his portfolio's geographic exposure, and his long ideas on Vitec Software Group (OSTO:VIT B, Financial) and Kelly Partners Group (KPGHF, Financial).
Lastly, editor Richard Lalane (‘24) had an exclusive interview with Shayan Mozaffar, Founder & CIO at10x10y and Adjunct CBS Professor for The Analyst's Edge, aboutfinding your edge and sharing it with the world.
We continue to bring you stock pitches from current CBS students.
In this issue, we feature the winners of the 2023 UNC Alpha Challenge, Joe Ferguson (‘25), Garrett Wallis (‘25), and Susan Liu ('25) for their long thesis on Janus International Group (JBI, Financial).
We also feature the winner of the 2024 Artisan International Growth Stock Pitch Challenge, Amar Kashyap (‘24) for his long thesis on Enstar Group LTD (ESGR, Financial).
You can find more in-depth interviews on the Value Investing with Legends podcast,hosted by Tano Santos and Michael Mauboussin, Head of Consilient Research at Counterpoint Global at Morgan Stanley Investment Management and adjunct faculty member at Columbia Business School. Recent interviewees include Kim Lew, John Armitage, Nicolai Tangen and John Rodgers.
We thank our interviewees for contributing their time and insights not only to us, but to the whole investing community.
G&D Editors
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