The Investors' Corner

🎙️ IC #9: Talking Telehealth and HIMS w/ Ashwin Sharma

Telehealth Industry Trends and Challenges with Ash SharmaIn this episode of The Investors Corner Podcast by Cedar Grove Capital Management, Chief Investment Officer Paul Cerro welcomes Ash Sharma, writer and founder of the GLP One Digest. They discuss the evolution and future of telehealth, touching on topics such as consumer health behaviors, limitations and dark sides of telehealth services, and the business model of labs and diagnostics. They delve into the controversial practices within the industry, such as compounded treatments and ethical concerns. The conversation also covers international expansion of telehealth services, particularly in the UK market, and the challenges HIMS is facing with new product offerings. Finally, they explore the importance of proactive versus reactive healthcare and the impact of tech advancements such as wearables in promoting healthy lifestyles.00:00 Introduction and Guest Introduction03:40 Telehealth Evolution and Market Impact06:49 Limitations and Challenges of Telehealth14:10 The Dark Side of Telehealth23:02 Preventative vs. Reactive Healthcare30:36 HIMSS and Lab Biomarkers Discussion35:18 The Cost of Medical Devices36:03 Compounding Treatments and Business Strategies37:34 Diagnostic Blood Tests and Health Anxiety39:27 The Business of Biomarkers and Medications41:35 Cancer Diagnostics and False Positives45:53 New Product Releases: TRT, HRT, and Peptides54:33 International Expansion and Market Challenges59:46 Telehealth Industry Insights and HIMSS Future01:03:25 Concluding Thoughts and RecommendationsCedar Grove Capital Management Fund: www.cedargrovecapitalmanagement.com [www.cedargrovecapitalmanagement.com] Cedar Grove Capital Management Research: www.cedargroveresearch.com [www.cedargroveresearch.com]Paul Cerro Twitter: https://x.com/paulcerro [https://x.com/paulcerro] Fund Twitter: https://x.com/cedargrovecm [https://x.com/cedargrovecm] Ash Twitter: https://x.com/Ashwinreads [https://x.com/Ashwinreads] GLP-1 Digest: https://www.glp1digest.com/ [https://www.glp1digest.com/]

🎙️IC #8 Lessons From The Past

Research: www.cedargroveresearch.com [www.cedargroveresearch.com] Reflecting on 2025: Key Investment Lessons and MistakesIn the eighth episode of The Investors Corner, Paul Cerro, Chief Investment Officer of Cedar Grove Capital Management, takes a reflective look back at 2025, discussing key investment lessons and mistakes he encountered throughout the year. Departing from his usual format, Paul dives into an in-depth analysis of three specific investment experiences: a complicated short position with Hims and Hers Health (HIMS), a problematic long position with Gen Restaurant Group (GENK), and the importance of understanding market irrationality via solid fundamentals through investments in Liquidia (LQDA) and The RealReal (REAL). He emphasizes the importance of learning from past mistakes to avoid them in the future and shares insights on market dynamics, investor psychology, and the impact of external factors on investment decisions. The episode concludes with a call for feedback on the content format and a hopeful note for the upcoming year.00:00 Introduction and Episode Overview00:30 Reflecting on Investment Mistakes03:21 Disclaimer and Educational Purpose03:51 Case Study: Hims and Hers Health (HIMS)05:01 The Short Position and Market Dynamics08:40 Challenges and Market Reactions27:00 Lessons Learned from the Trade35:11 Learning from Mistakes and Tightening Risk Controls35:26 Optimism and Challenges with Gen Restaurant Group (GENK)40:53 Management Issues and Trust Breakdown44:38 Final Decision and Lessons Learned51:02 Volatility and Doubling Down on Conviction52:00 Success Stories: Liquidia and The RealReal01:03:05 Concluding Thoughts and Future Outlook

🎙️ IC #7: A Phoenix Rising From the Ashes - Talking Weight Watchers (WW) Post-Bankruptcy

Weight Watchers: From Short to Long - An In-Depth Look at Post-Bankruptcy Strategies with Investor Relations Director David HeldermanIn this episode of The Investors Corner Podcast, Paul Cerro from Cedar Grove Capital Management speaks with David Helderman, Director of Investor Relations at Weight Watchers International (WW). The discussion covers the intriguing journey of Weight Watchers from facing bankruptcy to presenting new growth opportunities. Initially, Paul recounts how they shorted Weight Watchers in 2023 due to the company's financial struggles and slow adaptation to medication-based weight loss solutions. With the company now emerging from bankruptcy with significantly reduced debt, new leadership, and improved financial flexibility, they discuss the restructured business model and future outlook. David elaborates on the post-bankruptcy vision of Weight Watchers, emphasizing the integration of GLP-1 medications and behavioral support, the development of new products like the menopause program, and enhanced digital and in-person member experiences. They also touch upon strategic partnerships and the expansion into international markets. This episode provides valuable insights for current and potential investors into the strategic changes underway at Weight Watchers, aimed at capitalizing on future opportunities in the weight management industry. Get more at www.cedargroveresearch.com [www.cedargroveresearch.com]. Hope you enjoy!00:00 Introduction and Prelude00:41 Weight Watchers Short Position and Bankruptcy02:22 Post-Bankruptcy Weight Watchers04:03 Interview with David Helderman06:29 Weight Watchers' New Strategy07:37 GLP-1 Medications and Behavioral Support17:00 Financial Restructuring and Future Outlook24:06 Clinical Business Overview24:47 Streamlined Process and Support26:22 Behavioral and Clinical Integration27:04 Challenges and Future Outlook30:10 Brand Evolution and Member Experience36:20 Menopause Launch and Future Opportunities38:55 Partnerships and International Expansion43:43 Final Thoughts and Closing RemarksDisclaimer:This interview may also contain statements that are considered forward-looking under various securities laws. These forward-looking statements are based upon current market conditions and assumptions and involve risks and uncertainties that could cause actual results to differ materially. Cedar Grove Capital Management may maintain positions in the securities discussed in this interview, and nothing herein should be construed as an offer to sell, or a solicitation of an offer to buy, any securities. This interview does not intend to be complete or entirely accurate on any topic addressed, and the information discussed in this interview is provided as of the date of its publication and will not be updated.

🎙️ IC #6: Talking Sanuwave Health (SNWV) w/Tenva Capital

Exploring SANUWAVE Health: An In-Depth Discussion with Jesse from Teneva Capital In this episode of The Investors Corner Podcast, host Paul Cerro from Cedar Grove Capital Management speaks with Jesse, the founder of Tenva Capital, about the small-cap healthcare company SANUWAVE Health (ticker: SNWV). They delve into the company's background, its innovative UltraMist device for treating complex, non-healing wounds, and its significant growth potential. Jesse details his investment thesis, the improved financial position of Sonu Wave, and the recent transformative changes under new CEO Morgan Frank. The episode also covers the market potential, competitive advantages, revenue model, and the strategic importance of the company’s recent partnership with JP Morgan for debt refinancing. Listeners are reminded to conduct their own due diligence, as the discussion is not investment advice. 00:00 Introduction and Podcast Overview 02:10 Meet Jesse: Founder of Tenva Capital 03:45 Investment Strategies and Portfolio Management 04:44 The Power of Networking: How Twitter Connected Us 06:07 Introduction to Sonu Wave Health 07:04 Sonu Wave Health: Company Background and Recent Developments 12:21 Ultra Mist: Revolutionary Wound Care Technology 21:04 Unit Economics and Market Potential 30:43 Financials and Growth Projections 31:57 Financial Projections and Growth Expectations 36:38 Sales Team Expansion and Marketing Strategy 39:19 Debt Refinancing and Financial Stability 43:18 CMS Reimbursement and Regulatory Risks 49:05 Management and Leadership Insights 52:15 Comparative Analysis and Market Position 55:12 Consumables Business and Revenue Model 57:45 Final Thoughts and Summary 58:37 Closing Remarks and Contact Information This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit cedargrovecapital.substack.com [https://cedargrovecapital.substack.com?utm_medium=podcast&utm_campaign=CTA_1]

🎙️ IC #5: Can PTON Sail Again? w/Alex Morris

Evaluating Peloton's Turnaround: A Deep Dive with Paul and Alex Morris In this episode of The Investors Corner, host Paul from Cedar Grove Capital Management is joined by Alex Morris, the founder of TSOH Investment Research. The discussion focuses on Peloton, its tumultuous journey through the COVID-19 pandemic, and efforts to stabilize and reignite growth under new management. Paul and Alex examine the challenges Peloton faces, including churn, product diversification, and financial restructuring, and debate its future prospects. They also consider whether Peloton might be a good acquisition target for a tech giant like Apple, and speculate on its potential stock performance over the next year. 00:00 Introduction and Guest Introduction 01:02 Alex Morris: Background and Expertise 02:21 Discussion on TSOH Investment Research 05:26 Peloton: Initial Thoughts and Analysis 06:46 Peloton's Subscriber Trends and Challenges 10:37 Peloton's Strategic Shifts and Financial Health 16:00 Peloton's Product and Market Position 26:08 Future Prospects and Concerns for Peloton 40:34 Strategic Missteps and Missed Opportunities 43:24 Financial Efficiency and Cost Management 46:57 Market Position and Customer Demographics 49:07 Potential Acquisition by Apple 54:03 Investment Considerations and Future Outlook 59:16 Reflections on Investment Strategies 01:20:20 Evaluating the Product and Market Potential 10:37 Personal Investment Experience and Market Observations 11:48 Challenges and Strategic Shifts 13:13 Financial Struggles and Leadership Changes 14:09 Efforts to Revitalize Growth 15:42 Speculations on Acquisition and Future Prospects 01:46:01 Concluding Thoughts and Investment Considerations This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit cedargrovecapital.substack.com [https://cedargrovecapital.substack.com?utm_medium=podcast&utm_campaign=CTA_1]