MI056: The Shipping Industry and Deep Value Investing with J Mintzmyer (Investing Podcast)
The Intrinsic Value Podcast - The Investor’s Podcast Network
The Investor's Podcast Network
4.6 • 592 Ratings
🗓️ 2 September 2020
⏱️ 61 minutes
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| 0:00.0 | You're listening to TIP. On today's show, I sit down with investor and analyst Jay Mintsmeyer |
| 0:06.2 | to talk about his views on investing in the shipping industry and principles of deep value investing. |
| 0:11.6 | You might be familiar with Jay as he's one of the top contributors on Seeking Alpha with over 300 |
| 0:17.0 | articles. He shares with us his knowledge on deep value investing and also gives us a look |
| 0:22.0 | into the shipping industry. The shipping industry was always one I avoided as an investor because |
| 0:27.7 | I considered it to be outside of my circle of competence, as Warren Buffett would say. So I found |
| 0:33.2 | this conversation to be very helpful and educational. So without further ado, let's get into this week's episode with Jay Minstmeyer. |
| 0:41.5 | You're listening to Millennial Investing by the Investors Podcast Network, where your host, Robert |
| 0:47.1 | Leonard, interview successful entrepreneurs, business leaders and investors to help educate |
| 0:52.4 | and inspire the millennial generation. |
| 1:03.4 | Hey everyone. Welcome to today's show. I'm your host, Robert Leonard. And with me today, |
| 1:08.1 | I have Jay Mincemeyer. Welcome to the show, Jay. Hey, Robert, appreciate it. It's good to be here. I'm excited for our conversation today. I'm pretty well-versed in quite a few different industries, but one that I don't know much about is the shipping industry, and that's going to be our focus of the episode today. But before we dive into that conversation, tell the audience a bit about you. I've been a part-time investor for a little over a decade. I started writing on Seeking |
| 1:32.3 | Alpha back in 2011. And when I started out, I was covering mostly value stocks. And then I started |
| 1:38.0 | getting a little bit more into some of the niche deep value type sectors looking into energy |
| 1:42.4 | and some mining. And, you know, I came across shipping |
| 1:45.1 | and it just fascinated me by how disconnected some of these stocks could be from the underlying |
| 1:50.0 | fundamentals. Like, nobody really cared about how much cash for the company was earning or what |
| 1:54.2 | the shipping rates were per se. They were more focused on broad, just macro thematic things. |
| 1:58.8 | And not only that, but, you know, shipping had that huge boom and bust along with the entire economy in 2008 |
| 2:04.2 | and 2009. |
| 2:05.3 | So I just kind of started finding these stocks, some of them which were very beat up and some |
| 2:09.4 | of which were basically garbage and about to go bankrupt. |
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