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Jeremy Raper

11 Podcast Episodes

Latest 4 Apr 2021 | Updated Daily

Weekly hand curated podcast episodes for learning

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Jeremy Raper on Haier Smart Home

Yet Another Value Podcast

Jeremy Raper, founder of the excellent rapercapital.com and our inaugural guest, makes a repeat appearance on the podcast. We provide an update on his idea from our last podcast (Brag), discuss a potential $300m+ investment he's looking to source, and then dive deep into his later idea, Haier Smart Home German Shares (690D).Note that BRAG and Haier are both international small cap stocks; please do you own research and nothing in this podcast is investing advice.LinksJeremy's first YAVP appearance: https://youtu.be/X-nVRNiSeosJeremy's second YAVP appearance: https://youtu.be/PuP_c10B_NIChapters0:00 Intro4:20 Jeremy's $400 million special situation8:20 Update on BRAG13:20 Jeremy's new big position, Haier Smart Home German D-shares (690D)20:20 Discussion of fungibility of Haier's different shares25:00 What's the right spread?30:30 Devil's advocate: why can't the Hong Kong shares keep running?38:20 Devil's advocate: comparison to SPAC warrant arb41:05 Devil's advocate: geo-political risk46:00 Discussion of position structuring (naked long or dirty arb)

51mins

19 Jan 2021

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#131 - Jeremy Raper on his 2021 Investment Strategy, SNEX, BWMX, Peabody Bonds, and TikTok Investors

The Intelligent Investing Podcast

SummaryIn this episode, I bring Jeremy Raper of Raper Capital back on the show to discuss his 2021 Investment Playbook. We also do a recap of some of the investments from 2020. You can also watch this episode on YouTube.  Show Notes0:37 - Corona Update 1:34 - The easy money has been made, so now what? 2:46 - Market crises 4:51 - Short-term pain 5:59 - 2021 Investing Playbook 10:47 - Stonex Group (SNEX) 12:14 - Junior Canadian Copper Miners 14:27 - SPAC Warrant Arbitrage 15:57 - Hyliion Holdings Corp (HYLN) 16:06 - Nikola (NKLA) Warrant Spread 18:01 - Robinhood Punters 18:46 - TikTok Investors 24:32 - The Oil & Gas Industry 28:46 - Peabody Energy (BTU) Bonds 29:57 - Canadian Smallcaps 30:19 - Looking outside the United States 31:10 - Betterware de Mexico SAB de CV (BWMX) 43:52 - Martin Werner  About Eric SchleienOver the past decade, Eric has trained thousands of individuals including board members of public companies as well as several Fortune 500 CEOs. Eric specializes in organizational culture and has become a leading authority on organizational culture in the investment industry. Eric has been investing for 15 years and has been using breakthrough coaching methodologies for over a decade. Eric had the insight to combine proven coaching methodologies with shareholder activism techniques to create an entirely new model for shareholder activism that was more reliable and created greater sustainable results in a rapid period of time. On average, Tribal Leadership produces a 3-5x increase in profits of culturally troubled companies within an average of 24 months or less. Eric currently resides in Philadelphia, PA.Help Out The PodcastIf you like The Intelligent Investing Podcast, please consider leaving a rating and review on Apple Podcasts. It takes less than 30 seconds to do and makes a huge difference! You can also join the Facebook page!       You can subscribe to the podcast on the following platforms: Apple Podcasts Stitcher TuneIn Spotify Podbean iHeart Radio YouTube  CONTACT ERIC SCHLEIENFacebook  |  LinkedIn  | Twitter  | YouTube | GSCM | Instagram Email: IntelligentInvesting@gmail.com

53mins

14 Jan 2021

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Jeremy Raper on Bragg Gaming (BRAG.V)

Yet Another Value Podcast

Jeremy Raper, founder of the excellent rapercapital.com and our inaugural guest, makes a repeat appearance on the podcast. We discuss his recent views on the market, a quick update on his StoneX (SNEX) thesis, and his recent thesis on Canadian microcap Bragg Gaming (BRAG). Note that BRAG is a Canadian Microcap; please do you own research and nothing in this podcast is investing advice.LinksJeremy's first YAVP appearance: https://youtu.be/X-nVRNiSeosJeremy's article on BRAG: https://seekingalpha.com/article/4391937-bragg-gaming-undiscovered-igaming-saas-gem-be-next-gan-plcChapters0:00 intro1:30 Catch up and the current environment5:55 How Jeremy is shorting in this environment15:15 Sectors Jeremy is seeing opportunity on the long side23:30 Update on StoneX (SNEX) thesis29:50 Brag Overview33:10 Similarities between Brag and GAN38:55 Red flag #1: Management turnover45:40 How a recent deal suggests equity upside49:40 Why Brag could be a better business than Gan56:20 Brag's 2021 outlook and German regulatory risk1:11:00 Management's recent commentary on relisting

1hr 15mins

1 Dec 2020

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Jeremy Raper on StoneX $SNEX

Yet Another Value Podcast

Our inaugural episode is an interview with Jeremy Raper of Raper Capital (https://rapercapital.com/). We start by discussing Jeremy's credit background and how he's looking at the markets today; then, we dive deep into one of his favorite investing ideas: StoneX (SNEX)

1hr 8mins

3 Aug 2020

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#106: Jeremy Raper; Endor AG

The Intelligent Investing Podcast

For the full video interview on YouTube, click here. SubscribeIf you like The Intelligent Investing Podcast, please consider subscribing on: Apple Podcasts Stitcher TuneIn Spotify Podbean iHeart Radio YouTube OverviewEndor AG is a Munich-listed holding company whose sole asset is Fanatec, the premium provider of racing wheels and other accessories for sim racing games played on consoles and PCsDespite being a German-listed small-cap, the company has ~80% market share in the premium wheel/accessories segment and has essentially locked up exclusive branding rights for all the major OEMs and racing organizations (F1/Nascar/WRC) to produce branded replica racing wheels. Growth Endor AG grew 70-80% last year and has compounded revenues at 40% over the last 10yrs, as iRacing/simulated racing has grown organically in popularity at very high ratesCOVID-19 ImpactCurrent growth is exploding due to COVID-19 and the mainstream recognition sim racing has garnered with normal sports closed for the last three months. The current business is growing 100-200% per annum, so much so that the company can barely keep up with demand.The company has already leaked they are targeting 150-200mm in revenues at 25-30% EBIT margins in the next couple of years (versus 40mm revenues last year and 80mm this year). Going ForwardThe stock currently trades at ~11x 2021 earnings, and ~2x 2021E sales, despite a multi-year runway where the business could grow 30% for a very long time. Fair value on a 'normal' exchange with English disclosures/investor relations would probably be 4-5x the current price. Jeremy believes that even on the minor German exchange, it's hard to see how the stock doesn't double or triple again.Staying In Touch With Jeremy RaperBlog Twitter  Staying In Touch With Eric SchleienFacebook YouTube LinkedIn Twitter Instagram GSCM

36mins

22 Jun 2020

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The Special Situations Cast Episode 001 Featuring Jeremy Raper

The Special Situation Cast

Jeremy Raper of Raper Capital takes us through some of his best investment ideas including Aerocap Holdings, Airlease, Nio, International FC Stone and Gain Capital. Topics include the aircraft leasing business, China's Tesla, and an M&A opportunity.

1hr

2 Jun 2020

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Equity Investing Through a Creditor's Lens w/ Jeremy Raper, Raper Capital (Episode 27)

Value Hive Podcast

This episode is brought to you by TIKR. Join the free beta today at TIKR.com/hive Today's guest is Jeremy Raper. Jeremy runs RaperCapital.com and recently launched a premium investment research service.  Jeremy looks at public markets through the eyes of a credit analyst. This gives him a unique perception on markets, companies and capital structure situations. He's not afraid to invest all along the capital structure, and often writes about unique long/short bond opportunities.  Before launching his premium research service, Jeremy worked over a decade on both the buy and sell side research departments. He even spent time in Japan doing equity/credit analysis.  During our chat we talk about Jeremy's investment process, the edges gained while living/working in Japan, how he finds ideas and how he thinks about valuation/risk.  Here's the podcast outline:  [1:10] - Lessons From Playing Tennis [3:00] How Jeremy Got Started In Markets [6:15] Lessons From The Buy & Sell Side [8:35] Jeremy's First Taste in Credit Instruments [26:00] Jeremy's Four Pillars of Investing [32:12] Portfolio Construction and Allocation [35:24] How To Extract Value From Net Nets [39:51] The Pendulum of Shareholder vs. Customer Focus [43:42] Returns ON Capital vs. Return OF Capital  [56:00] How To Avoid Value Traps [60:00] Sustainable Free Cash Flow Definitions [69:00] Jeremy's Three Buckets of Idea  [74:28] How To Prioritize New Investment Ideas [80:00] Kill Your Ideas Quickly [84:33] If The Price Is Right, Look Deeper (CLMT) [93:18] Real-Time Example of Credit Analysis (361 Degrees) [105:46] Finding The Main Drivers of an Investment [108:19] Raper Capital Premium -- What To Expect  [118:28] Closing Questions If you want to learn more about Jeremy's research, head over to his site RaperCapital.com. Also make sure to follow him on Twitter @puppyeh1

2hr 2mins

29 May 2020

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#90: Coronavirus Investing Series, Part 8 | Jeremy Raper | Japanese Hotel REITs

The Intelligent Investing Podcast

This is Part 8 of a special Coronavirus Investing Series. If you have not listened to Part 1, please click here to get the overall context/market overview during this unprecedented time. You can also listen to: Part 2 Part 3 Part 4 Part 5 Part 6 Part 7 In this episode of The Intelligent Investing Podcast, I sit down with Jeremy Raper to chat about a potential opportunity in Japanese Mall REIT's which have been hit pretty hard during this coronavirus pandemic.   OverviewIf you are willing to look through whatever happens in 2020 and assume we go back to a normalized environment in 2021, then you should be looking at some of the most beaten-down sectors. You have to ask yourself a few questions when valuing names in the most beaten-down sectors of the economy: Is the equity going to survive? What losses are they taking along the way? What does that post-corona-world look like?  Japanese REITsJapanese Mall REITs fall within the broader subsector of Japanese REITs. REITs are real estate investment trusts. Furthermore, REITs must pay 90% of their income as dividends.   Japanese HotelsWhy Japan hotels in particular? Japan has been under-hoteled for a long time. There has been a shortage of hotels and that had been rectified somewhat on the runup to the Olympics.  However, the hotel fleet is still pretty tight.   Two Cheap Japanese Hotel REITsOn this episode, we discuss two Japanese Hotel REITs Japan Hotel Investment Corp Invincible Investment Corp Both REITs trade at fractions of NAV and high normalized cap rates.  Staying In Touch With Eric SchleienFacebook YouTube LinkedIn Twitter Instagram GSCMStaying In Touch With Jeremy RaperBlog Twitter

21mins

1 Apr 2020

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#89: Coronavirus Investing Series, Part 7 | Jeremy Raper | GAN plc

The Intelligent Investing Podcast

This is Part 7 of a special Coronavirus Investing Series. If you have not listened to Part 1, please click here to get the overall context/market overview during this unprecedented time. You can also listen to: Part 2 Part 3 Part 4 Part 5 Part 6 You can also listen to a previous episode where we discuss GAN, here. You can also listen to our YouTube clip about GAN, here.  OverviewIn this episode of The Intelligent Investing Podcast, Eric Schleien and Jeremy Raper discuss GAN plc. GAN is a leading developer and supplier of online gaming content and enterprise-level business to business gaming software systems as well as a provider of supporting operational services. GAN has developed the GameSTACK Internet Gaming System (or “IGS”) which the company licenses to online and land-based gaming operators as a turnkey technology solution for both regulated real-money and Simulated Gaming online. GAN will benefit from people staying at home who do online gambling, they have a competitive moat which we go further into detail in the episode, and the company trades at a low multiple for a high growth stock.  Staying In Touch With Eric SchleienFacebook YouTube LinkedIn Twitter Instagram GSCMStaying In Touch With Jeremy RaperBlog Twitter

24mins

30 Mar 2020

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Episode #13 - Jeremy Raper

World of Short Selling

This episode contains the following and rough timestamps; 0.00 Credit mentality and short-selling 10.00 Market oddities – BB bond yielding 1.5% in a distressed potash business 24.20 Balance-sheet driven focus and looking for companies that are forced to grow 31.00 Why is Jeremy not primarily focused on fraud 39.00 Peleton and the question of trading (Netflix) 43.30 One thing Jeremy took away from shorting Tesla 50.10 Jeremy’s best and worst trades (Quicksilver and cannabis stocks) 58.00 How does Jeremy think about timing – looking for zeros 61.00 Shorting NIO (NIO) 78.00 Jeremy’s best short pick now – Westshore (WTE.TO) 89.00 What would Jeremy do more of if he were to start all over again Finally, here is Jeremy’s twitter and his website.

1hr 29mins

17 Jan 2020

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