TIVP050: Portfolio Review: Performance and New Positions w/ Daniel Mahncke & Shawn O’Malley
The Intrinsic Value Podcast - The Investor’s Podcast Network
The Investor's Podcast Network
4.6 • 592 Ratings
🗓️ 14 December 2025
⏱️ 83 minutes
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| 0:00.0 | We are 50 episodes into the Intrinsic Value podcast now. Every week, we invest 40 hours researching companies to find outstanding opportunities and build a portfolio from scratch. |
| 0:11.6 | And there is obviously some selection bias. We only choose companies that we find interesting in the first place to cover on the show. And yet we still say no to about 80% of the companies we cover. |
| 0:21.3 | Well, as Buffett said, the great thing about investing is that you can choose the times to swing. |
| 0:26.4 | Today, after almost a year of building our portfolio, we will take a look at how things went, |
| 0:31.3 | and there's quite a lot of news today. |
| 0:32.9 | We will sell one company, enter into another position, and add to an existing one. So I would say, stay tuned. |
| 0:43.7 | You're listening to the Intrinsic Value podcast by the Investors Podcast Network. Since 2014, |
| 0:49.9 | with over 180 million downloads, we've learned directly from the world's best investors. Now, we're applying those lessons to analyze businesses and investment opportunities every week, helping you uncover intrinsic value. And now, here are your hosts, Sean O'Malley and Daniel Moncker. |
| 1:19.6 | Today, we will take a look at our intrinsic value portfolio. And as you may know, the goal of this show is not only to learn about different types of businesses, |
| 1:25.6 | how to value companies, and really just to generally |
| 1:28.3 | become a better investor. But we also want to take you on a journey where we build a portfolio |
| 1:32.9 | from scratch, where we started at 100% cash, where we did the very first episode of this show |
| 1:39.0 | way back in January 2025. And so whenever we look at portfolios of super investors, the really inspiration for |
| 1:47.8 | the show was that we realized they look like finished products. And of course, there's always |
| 1:52.6 | going to be some change in positions get taken out and new ones come in, but they're not really |
| 1:58.5 | showing you how they started from scratch. How did you get from being |
| 2:01.8 | a hundred percent cash to being fully invested? And so if you invested in the market for 10 years, |
| 2:07.6 | maybe you hold on to positions that you wouldn't necessarily buy into now, simply due to tax |
| 2:12.7 | reasons or because of concerns about realizing paper losses or gains. And as we know, those losses only count when you realize them. |
| 2:21.0 | But I guess what I'm trying to say is that on the other hand, |
| 2:23.1 | if you start from scratch and you don't have any of these other biases |
| 2:27.1 | shaping, you know, why things are in their portfolio, |
... |
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