46. The shovel in the AI gold rush

50. The OGs of the corporate raid

For our fiftieth episode, we’re exploring one of the most powerful and influential names in all of finance. This is a company that buys and sells other companies, a firm so famous for its aggressive tactics in the 1980s that it inspired a best-selling book and a movie called Barbarians at the Gate. But today... [pause] it has evolved far beyond that reputation into a sophisticated, diversified, global asset manager that is a direct beneficiary of one of the biggest trends in modern finance. We are talking about KKR. When you hear the name KKR ($KKR), you probably think of the original "barbarians at the gate"—the legendary pioneers of the leveraged buyout. For decades, their name has been synonymous with audacious corporate takeovers and the aggressive, high-stakes world of private equity. But the real story of the modern KKR is its transformation into a massive, diversified alternative asset manager. While traditional buyouts remain a core focus, the company has expanded into a global powerhouse in credit, infrastructure, real estate, and insurance. A huge and growing portion of its business is now driven by stable, recurring fee revenue from trillions of dollars in locked-up capital, making it less of a deal-to-deal hunter and more of a sophisticated, fee-gathering machine. But in a new era of higher interest rates, the classic buyout model is under pressure. We're opening the books to determine if KKR's diversified model can thrive in a challenging economic environment or if the original barbarian is facing its toughest battle yet. Created with love by Emil Lazzaroni  2 new episodes per week, until I can find good companies to hold forever.  This is not in any way, shape or form financial advice. You are the sole responsible for the action you take after listening to any of my content.  Always consult a professional before investing.

49. The millenial gaming company reshaping videogames forever

For our forty-ninth episode, we're going to talk about a company that has probably been a part of some of the most memorable moments in your life. [pause] The sound of the first Walkman... the iconic boot-up sound of a PlayStation console... the thrill of watching Spider-Man swing across the screen... or the sound of an iconic artist from Michael Jackson to Adele. One single company is the creative force behind all of them. This is the story of how a legendary hardware maker transformed itself into a content king. We are talking about the Sony Group. When you hear the name Sony ($SONY), you probably think of the legendary Japanese company that brought you the PlayStation, Bravia TVs, and Walkman. For decades, it's been known as a premier, high-quality consumer electronics and hardware manufacturer. But the real story and the primary profit drivers of modern Sony are its world-class content and key technology divisions. The high-margin, recurring revenue from the PlayStation Network, the massive Sony Music empire, its Hollywood movie studio, and its dominant position as the leading supplier of camera sensors for smartphones are the true engines of the business. Sony has transformed into an entertainment and key component supplier disguised as a hardware company. But can this sprawling conglomerate effectively compete against more focused rivals in each of its markets? We're pressing play to analyze if Sony's incredible collection of assets can work in harmony to create a dominant ecosystem or if its complexity will always hold it back. Created with love by Emil Lazzaroni  2 new episodes per week, until I can find good companies to hold forever.  This is not in any way, shape or form financial advice. You are the sole responsible for the action you take after listening to any of my content.  Always consult a professional before investing.

48. The cartographers of the financial world

For our forty-eighth episode, we're exploring a company that is the ultimate "tollbooth" business. Imagine you're a massive pension fund or an asset manager. How do you measure your performance? How do you decide how to invest in international stocks? [pause] You need a benchmark, a universal standard, a map of the financial world. Our company today creates those maps. And for the privilege of using them, they collect a small, recurring fee on trillions of dollars of global assets. We are talking about the financial data and index powerhouse... MSCI. When you hear the name MSCI ($MSCI), you probably think of their world-renowned stock market indices, like the MSCI World or MSCI Emerging Markets benchmarks. They are the creators of the yardsticks that a huge portion of the global investment industry, including countless ETFs and mutual funds, measure themselves against. But the real story behind MSCI is its evolution into a deeply embedded financial data and analytics powerhouse. The indices are just the beginning. The company operates a powerful, recurring-revenue "toll road" model, collecting fees based on the assets tied to its benchmarks. Furthermore, its suite of mission-critical risk analytics and ESG data tools are woven into the daily operations of the world's largest asset managers, creating incredibly high switching costs. But with the stock perpetually trading at a premium valuation, is the price of admission too high? We're running the numbers to determine if MSCI's formidable competitive moat makes it a must-own compounder or if its high valuation presents too much risk in a cyclical market. Created with love by Emil Lazzaroni  2 new episodes per week, until I can find good companies to hold forever.  This is not in any way, shape or form financial advice. You are the sole responsible for the action you take after listening to any of my content.  Always consult a professional before investing.

47. The Hidden Giant behind your checkout

For our forty-seventh episode, we're going to talk about that magic moment when you click "buy" online. It feels simple, but behind that single click is a messy, complex web of old technologies... gateways, processors, and acquirers, all taped together. [pause] Today's company looked at that mess and decided to build something better: a single, clean, modern platform to handle everything. They are the preferred payments partner for global giants like Uber, Spotify, and McDonald's. We are talking about the Dutch fintech leader... Adyen. Of course. Here is a description and a list of single-word tags for your podcast episode on Adyen.Adyen ($ADYEY) Episode DescriptionEpisode Title: Adyen ($ADYEY) Stock Analysis: A Fintech Innovator or a Commodity in a Price War?Description:When you hear the name Adyen ($ADYEY), you think of a modern, European fintech powerhouse, a payment processor for global giants like McDonald's, Microsoft, and Uber. For years, this Dutch company was a darling of the growth investing world, known for its sleek technology and rapid expansion.But the real story behind Adyen's competitive advantage is its unified, modern technology platform. Unlike legacy competitors who built their systems through a patchwork of acquisitions, Adyen built its entire payment stack—from gateway to acquiring—from the ground up. This provides superior data and reliability for its large enterprise clients. However, the payments landscape has become fiercely competitive, leading to intense pricing pressure and a dramatic slowdown in growth that recently rattled investors.We're processing the transaction to determine if Adyen's superior technology is a strong enough moat to win the payments war, or if the industry has become too commoditized for any company to maintain a premium. Created with love by Emil Lazzaroni  2 new episodes per week, until I can find good companies to hold forever.  This is not in any way, shape or form financial advice. You are the sole responsible for the action you take after listening to any of my content.  Always consult a professional before investing.

46. The shovel in the AI gold rush

For our forty-sixth episode, we're talking about the company that is building the future, right now. All the incredible AI tools we're suddenly seeing—ChatGPT, image generators, scientific breakthroughs—they don't run on magic. [pause] They run on a new kind of computer, a new kind of engine. And one company, through incredible foresight, has a virtual monopoly on that engine. They are selling the picks, the shovels, and the entire railroad system for the AI gold rush. We are talking about the company of the decade... Nvidia. When you hear the name NVIDIA ($NVDA), you probably think of high-end graphics cards for PC gaming. For decades, its GeForce GPUs have been the gold standard for gamers, building a powerful and beloved brand in the process. But the real story, and the reason NVIDIA has become one of the most valuable companies in the world, has little to do with gaming. NVIDIA is the undisputed engine of the artificial intelligence revolution. Its powerful processors and proprietary CUDA software platform have become the essential tools for training and running the most advanced AI models. This has given the company a near-monopolistic grip on the most important new market in technology. But with a sky-high valuation and every tech giant trying to build a competing chip, can its dominance last? We're plugging in to determine if NVIDIA's technological moat is deep enough to justify its massive valuation or if the AI hype has pushed this stock into bubble territory. Created with love by Emil Lazzaroni  2 new episodes per week, until I can find good companies to hold forever.  This is not in any way, shape or form financial advice. You are the sole responsible for the action you take after listening to any of my content.  Always consult a professional before investing.