Frazis Capital Podcast

Double or Nothing #7: Nuclear war? And Facebook, Square, Microsoft, Google

Misha Saul and Michael Frazis discuss latest developments in global markets. 

Double or Nothing with Michael Frazis and Misha Saul.  Adobe buys Figma, Ancient and Modern heroes, and CPI prints

0:32 – Passing of Queen Elizabeth II 7:35 – Kim Kardashian’s new private equity play 9:16 – Collapse in price of crude oil 13:12 – Market and inflation outlook 15:32 – Twilio 21:19 – Whitehaven Coal 24:37 – Update on VC Fund deals 32:02 – Summary and wrap-up

Artificial intelligence gets creative and Powell speaks at Jackson Hole

Double or Nothing with Misha Saul and Michael Frazis 0:15 – Preview and thoughts on Jerome Powell’s upcoming speech 1:00 – Update on Nvidia’s recent earnings and the wider semiconductor industry 12:10 – Farfetch update and latest earnings 15:45 – Notable small cap and GARP stocks 17:23 – Qantas recent performance and share buyback announcement 22:46 – Nathan Tinkler’s proposed coal mine acquisition 26:31 – Texas government order for divestment of all Blackrock holdings due to hostility on fossil fuels 28:06 – Andrew Forrest’s rise in the mining industry 34:05 – Assessment of Farfetch’s success and outlook 38:15 – Cettire – ASX listed Australian luxury goods company 42:19 – Rise and fall of Marley Spoon 49:20 – Summary and wrap-up

Trialling a new format, and joined by Misha Saul. Please let us know what you think!

Michael Frazis gives a market update. Detailed notes to follow.

An interview with Dr Stephen Tisch, who is researching treatment methods for dystonia at St Vincent's Hospital, Sydney.  If you would like to support Neurology and Neurosciences Research at St Vincent’s please visit www.supportstvincents.com click Donate, and select 'Neurosciences Research' from the drop-down menu.     Or contact Nicole at the St Vincent’s Curran Foundation on +61 422 715 377 or by Email nicole.forrestgreen@svha.org.au for EFT-bank details and cheque instructions.

Strategy update recorded live on 22 December 2021 (Timestamps to follow)

Misha Saul on markets, life, family, and violence in Western society

Michael Frazis reviews the market.   1:35 – Fallen angels & Fed balance sheet taper 3:53 – Comments on Coupa 7:26 – Lightspeed 8:35 – Teladoc  13:15 – Twilio  14:40 – Roku  18:10 – Upstart 19:16 – EBR Systems 20:40 – PayPal and Visa 24:52 – Coupang  29:50 – Thoughts on inflation 31:46 – Question #1: Sea Limited 32:12 – Question #2: Comments on mid-cap growth companies that haven’t fallen 32:42 – Question #3: Portfolio outlook 36:22 – Question #4: Crypto for payments 38:07 – Question #5: Matterport 38:45 – Question #6: Additional question on Upstart 39:33 – Question #7: Comparison of current revenue multiples to early 2000’s 43:40 – Question #8: Update on Regeneron and the Biotech sector 47:51 – Question #9: PayPal vs. Square

1:00 – Thoughts on the recent inflation data from the US 3:06 – The 6% differential between the Fed funds rate and inflation, and its impact on the economy 4:31 – Parallels with inflation spikes in the seventies and nineties 7:36 – The effect of inflation on the Australian dollar 7:46 – The effect of inflation on companies – Cloudflare 9:00 – Comments on Lightspeed 9:43 – Comments on Cettire 10:27 – Comments on Upstart 15:35 – Thoughts on Opendoor’s recent results and Zillow’s exit 17:47 - Roblox’s continued explosive growth and its impact on the Metaverse 19:05 – Thoughts on MercadoLibre’s recent results 19:59 – Our number one pick in the crypto space – Galaxy Digital 21:07 – Two crypto coins that you can stake – Olympus and KlimaDAO 22:39 – Question #1: What is the impact of credit risk on companies like Upstart during economic downturns? 23:41- Question #2: Thoughts on Paypal? 24:28 – Question #3: Thoughts on DermTech’s recent quarterly? 25:37- Question #4 Thoughts on Marqeta? 25:55 – Question #5: Thoughts

0:58   Launch of our Venture Fund 3:04   The benefits of pre-IPO access and our investment in Camplify 4:58   Private access to fast growing companies like Mawson Infrastructure 6:05   Zillow’s shrinking growth model 11:05 Comparative management decisions between Opendoor and Zillow 15:54 More on Zillow’s travails and management 17:29 The importance of customer love – Tesla 18:25 Tesla valuation thoughts 19:16 The NFT and crypto revolution 23:40 How crypto is transforming how games are played 27:48 Facebook’s lame Metaverse 29:53 The exciting prospects of games like Star Atlas 30:55 Our thoughts on Pinduoduo and Coupang 31:47 Chinese capital controls and its effects on FUTU and TIGR 33:44 What we like about Solana 34:24 The investment bank of the crypto world – Galaxy 35:50 Value in holding crypto companies – Voyager Digital Q&A’s 36:30 Question: Would love to here your thoughts on FUTU? 37:03 Question: What’s the upside of Tesla’s valuation? 38:17 Question: Thoughts on great resignati

Henry joins us to talk about his journey and experiences with surface science, engineering, and the US Airforce.  Timestamps 0:35 – How did MicroTau come to be? 2:08 – Henry discusses his involvement with InnoCentive challenges 5:16 – A challenge from the US Air Force Research Laboratory 6:26 – What is drag? 8:26 – How riblets found on shark skin can reduce drag 11:20 – Printing with light to create nano-scale features on surfaces 15:14 – Henry talks about his unexpected success with the US Air Force challenge 17:54 – Submitting a business proposal to the US Air Force 19:47 – The process of implementing the technology 22:13 – The carbon and cost savings associated with reducing friction drag on large-scale aircrafts 24:04 – The applications of MicroTau’s technology 27:18 – How the product will scale to large-scale surfaces 28:37 – MicroTau’s revenue model 30:35 – The process of approval in a highly-regulated industry 32:45 – MicroTau’s funding sources 33:30 – Support for start-ups in Australia 35:27 – Wh

Michael Frazis gives an update and answers questions.  0:26 – Introduction 1:10 – Performance update 1:58 – Comments on the NASDAQ100’s strong rally 2:46 – The performance of small-mid cap companies 3:38 – An analyse of where our returns have come from over the years 4:20 – Our past investment in bluebird bio 5:39 – Our IPO/pre-IPO investments in the life sciences 6:57 – We funded a PhD fellowship on research into Dystonia 8:45 – True customer love and explosive growth 9:14 – Our take on ESG and the rising coal prices 10:40 – The effects of currency fluctuations on a fund’s performance 12:23 – Drivers in the value of the AUD 13:36 – Comments on Opendoor and the three industries that are resistant to ecommerce 16:25 – Comments on Upstart 18:42 – Thoughts on the decline in digital health companies 20:03 – Question #1: What do you think of PointsBet? 21:31 – Question #2: Do we still hold Guardent and Dermtech? 23:30 – Question #3: The contribution of the life science companies to the fund’s performance 26:

Timestamps 0:15 Introduction to our strategy 2:55 How a company can lose money and still create value 4:38 Avoiding ‘deep value’ traps 5:30 Update on 2021 fund performance 6:50 How we’re investing in China 9:00 Update on FUTU’s Q2 results and why we bought more 12:18 Recently approved antibodies for COVID-19 – cause for optimism? 16:23 Update on Cettire’s FY21 results 18:03 How we evaluate business ‘quality’ 19:00 Update on Camplify’s FY21 results 21:18 Question: thoughts on Digital Turbine 22:39 Question: thoughts on the recent Square and Afterpay deal

Michael Frazis gives an update

Michael Frazis gives an update. 

Michael Frazis describes his investment company’s strategy that involves a 30-40 year view, not panicking and diverting the approach during dips and rallies. Evaluating growth stocks involves identifying customer love for a product or service which acts a key indicator of explosive growth potential. This approach is utilized in picking winners in industries like the ‘buy now, pay later’ space. Frazis explains how vaccine development is a long process involving extensive trials and how the emergency approval of Moderna’s vaccine allowed the company to prove the mRNA concept, providing the company a significant boost.     TIMESTAMPS  0:00 - Intro and background  2:39 - Founding his company at 29 and investing strategy  11:38 - Evaluating polarizing stocks like Tesla  15:08 - Investing psychology  18:45 - Processing investment information  23:17 - Investing in industry creators  25:31 - Moderna and life sciences investments  31:43 - Dogecoin case study