Shows
QAV America (free feed)QAV America 17 – Gray Gold: Finding Value in America’s Forgotten TV Empire (GTN)
In Episode 17 of QAV America, Cameron and Tony dive deep into the murky waters of the US media landscape with a pulled pork on Gray Television (GTN) — a classic “cigar butt” Berkshire-style stock that’s generating mountains of cash, trading at absurdly cheap levels, and doubling down on local television and film production while Wall Street yawns. They dissect Gray’s sprawling empire of local stations, film studios, and sports networks, and discuss how its political ad revenue, cash flow, and real estate assets might be wildly mispriced. Along the way, they contrast value investing orthodoxy with their QAV system, ex...2025-08-0736 minQAV America (free feed)QAV America 16 – Seneca Foods – A Classic Value Buy
In this episode of QAV America, Australian value investors Tony and Cam are focusing on Seneca Foods, a classic American company known for its packaged fruits and vegetables. They discuss Seneca’s financial performance, history, and why it’s a compelling value stock despite being considered a boring business. The hosts also reflect on other stocks they have reviewed recently, showing significant gains, and emphasize the ongoing potential to find undervalued stocks in the US market. The podcast aims to apply value investing principles to identify promising investment opportunities.
00:00 Introduction to QAV America00:57 Success Stories and...2025-07-3040 minQAV America (free feed)QAV America 15 – BHC – Dirty Drugs, Deeper Discount
This week on QAV America, Cameron delivers a doozy of a pulled pork on Bausch Health Companies (BHC), the scandal-riddled pharma beast formerly known as Valeant. From jacking drug prices to a multi-billion dollar loss for Bill Ackman, this company has a backstory filthier than a New Jersey motel carpet. But does all that stink mean it’s a value investor’s dream? We break down the history, the cashflow, the debt, and whether BHC’s rebrand is enough to justify a second look — or if it’s just lipstick on a particularly greasy pig.
Tony weighs...2025-07-2450 minQAV America (free feed)QAV America 14 – Sasol: The Value of Dirty Money
**Episode Summary**
In this episode of QAV America, Cameron dives deep into the murky, combustible world of Sasol (NYSE: SSL), a South African company built on the back of coal liquefaction technology born in Nazi Germany and refined under apartheid. It’s the kind of “anti-woke” fossil fuel juggernaut value investors might love—or love to hate. With Tony chiming in, they explore Sasol’s origins, tech, environmental baggage (they’re the world’s largest single emitter of CO₂), explosive safety record, and its appeal as a classic ugly-duckling value stock. They also tackle the ethics of ESG investing, A...2025-07-1736 minQAV America (free feed)QAV America 13 – Smartwatches, Smart Valuation
**Episode Overview:**
In this episode of _QAV America_, Cam and Tony dissect the fundamentals of **Zepp Health (ZEPP)**, a Chinese smartwatch manufacturer with aspirations well beyond step counters. They unpack the company’s evolution from low-margin Xiaomi contractor to an ambitious, vertically-integrated brand aiming to take on Apple — at a fraction of the cost. Cam walks through the business model, leadership, geopolitical hedging via a Netherlands HQ, and a potential future in AI-powered wearables. Despite being unprofitable, Zepp boasts positive operating cash flow, aggressive R&D spend, and a book value nearly five times its share price. Tony...2025-07-1147 minQAV America (free feed)QAV America 12.2 – Self-Coups and Steel Stocks
Cam and Tony dive deep into the performance of the QAV USA portfolio, which beat the S&P 500 handsomely with a 28.5% return over the last 12 months. The highlight of the episode is a rich and surprisingly wild pulled pork on Korean steel giant POSCO (PKX), including its transformation from a state-owned dinosaur into a cash-gushing, lithium-investing modern behemoth. Cam throws in a history lesson on South Korea’s postwar dictatorship, self-coups, and assassinations, making this one of the more cinematic episodes yet. They also discuss the removal of the Z-score from the checklist, U.S. tariffs, Trump’s fluctuating rela...2025-07-1045 minQAV America (free feed)QAV America 12 – Self-Coups and Steel Stocks
Cam and Tony dive deep into the performance of the QAV USA portfolio, which beat the S&P 500 handsomely with a 28.5% return over the last 12 months. The highlight of the episode is a rich and surprisingly wild pulled pork on Korean steel giant POSCO (PKX), including its transformation from a state-owned dinosaur into a cash-gushing, lithium-investing modern behemoth. Cam throws in a history lesson on South Korea’s postwar dictatorship, self-coups, and assassinations, making this one of the more cinematic episodes yet. They also discuss the removal of the Z-score from the checklist, U.S. tariffs, Trump’s fluctuating rela...2025-07-0341 min
RÁDIO CAFÉRÁDIO CAFÉ #363 - Trump aprova "megabill" e ameaça deportar Elon MuskECONOMIA1. Embraer decola com vendas bilionárias para Europa e América do Sul. Fabricante fecha com SAS e fortalece defesa paraguaia com Super Tucano.2. Petrobras eleva preço do combustível aéreo. Aumento de 2,9% no QAV afeta setor um mês após queda.3. Cade recomenda punição à Apple por abusos no iOS. Empresa impõe sistema de pagamento próprio e barra concorrência.4. Startup brasileira cria leite sem vaca com DNA bovino. Future Cow promete produto sintético com fermentação ancestral até 2026.5. Consumo cresce em maio com injeç...2025-07-022h 03QAV America (free feed)QAV America 11 – The Tesla of Oil Rigs
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 t...2025-06-2741 minQAV America (free feed)QAV America 10 – ORIX & The Japanese Conglomerate Discount: Value or Value Trap?
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 curren...2025-06-1947 minQAV America (free feed)QAV America 009 – Blame It on the Boogie
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...2025-06-1144 minQAV America (free feed)QAV America 008 – Huawei to Hell: Investing When the World’s Upside Down
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, Buffet...2025-06-041h 00QAV America (free feed)QAV America 007 – Tariffs, Towers, and the Telco Gamble in Africa
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.
—
### **🕒 Timestamps & Key Topics**
– **[00:0...2025-05-2939 minQAV America (free feed)QAV AMERICA 006 – Blood on the Balance Sheet
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 risk...2025-05-211h 26QAV America (free feed)QAV AMERICA 005 – Cayman Schemes and Chilean Dreams
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.
**Timestamps:**
**[00:01:00]** – US–China trade tariffs pause
**[00:06:00]** – **IVR (Invesco Mortgage Capital Inc.)** – Is a REIT QAV-compatible?
**[0...2025-05-1938 minQAV America (free feed)QAV AMERICA 005 — Cayman Schemes and Chilean DreamsIn 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.2025-05-1448 minQAV America (free feed)QAV AMERICA 004 – Buffett’s Last Dance
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 potentia...2025-05-0848 minQAV America (free feed)QAVUS 003 – Beware Greeks Bearing Ships
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 impa...2025-05-0251 minQAV America (free feed)QAVUS 002 – Markets Like Certainty
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 Sto...2025-03-2851 minQAV America (free feed)QAVUS 001 – Rule-Based Investing
In the premiere episode of the QAV U.S. podcast, Cameron Reilly and Tony Kynaston introduce American listeners to their established value investing approach, known as QAV (Quality at Value). They discuss their checklist-driven, rule-based investing methodology designed to identify undervalued stocks without emotional decision-making. Tony overviews their system, emphasizing its simplicity, low emotional involvement, and focus on long-term consistency and low risk compared to speculative investing. They address recent portfolio adjustments, such as selling Lands’ End (LE) and Global Ship Lease (GSL), and provide a detailed analysis of ZIM Integrated Shipping Services, highlighting its strong financial me...2025-03-1356 min