$NTDOY, $TWTR and The Hard Break w/ Aaron Edelheit

Aaron Edelheit is the CEO of Mindset Capital and author of the book, The Hard Break: The Case for a 24/6 Lifestyle. He also runs the newsletter, Mindsetvalue. Aaron’s a tried-and-true value investor searching the globe for undervalued businesses.

We spend the early portion of the podcast discussing Aaron’s early investment philosophy, his real estate endeavors and how he grew his small partnership into $25M.

From there, we talk biggest winners/losers over his investing career and why he wrote The Hard Break. 

Finally, we spend the bulk of the conversation diving deep into Nintendo ($NTDOY) and Twitter ($TWTR). Aaron lays out the NTDOY bull case, the bear case and exciting new technologies on the horizon for NTDOY. Aaron also dives into TWTR’s bull thesis, the bear thesis and what investors should know about the company’s future. 

Finally, we spend the remaining time discussing international investment ideas and where Aaron’s looking for value (hint: its Japan).

Big thanks again to Aaron for coming on the show. He was a fantastic guest and I can’t wait to have him back on for another episode!

Here’s the time-stamp:  

  • [0:00] Who is Aaron and how did you get started in investing?
  • [6:33] What was your style for growing a small sum into 25 million?
  • [7:00] Biggest Winners: ATL Ultrasound
  • [12:00] Biggest Losers? Doesn’t matter how people sound or how they look, you really need to be very skepticism.
  • [17:15] The dangers of overworking and Aaron’s Book “The Hard Break: The Case For The 24/6 Lifestyle”
  • [35:00] Nintendo: A 2013 MSFT?
  • [56:00] Risks for Nintendo
  • [1:01:00] Value investor’s case for Twitter
  • [1:22:00] Besides Nintendo and Twitter where can value be found? (Energy and Lincoln Educational Services)
  • [1:32:00] International Investments: Japan
  • [1:40:00] Closing Thoughts and Questions
If you want to learn more about Aaron Edelheit, check out these links: 
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Brandon Beylo

Value Investor

Brandon has been a professional investor focusing on value for over 13 years, spending his time in small to micro-cap companies, spin-offs, SPACs, and deep value liquidation situations. Over time, he’s developed a deeper understanding for what deep-value investing actually means, and refined his philosophy to include any business trading at a wild discount to what he thinks its worth in 3-5 years.

Brandon has a tenacious passion for investing, broad-based learning, and business. He previously worked for several leading investment firms before joining the team at Macro Ops. He lives by the famous Munger mantra of trying to get a little smarter each day.

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Investing & Personal Finance

AK is the founder of Macro Ops and the host of Fallible.

He started out in corporate economics for a Fortune 50 company before moving to a long/short equity investment firm.

With Macro Ops focused primarily on institutional clients, AK moved to servicing new investors just starting their journey. He takes the professional research and education produced at Macro Ops and breaks it down for beginners. The goal is to help clients find the best solution for their investing needs through effective education.

Tyler Kling

Volatility & Options Trader

Former trade desk manager at $100+ million family office where he oversaw multiple traders and helped develop cutting edge quantitative strategies in the derivatives market.

He worked as a consultant to the family office’s in-house fund of funds in the areas of portfolio manager evaluation and capital allocation.

Certified in Quantitative Finance from the Fitch Learning Center in London, England where he studied under famous quants such as Paul Wilmott.

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Founder and head macro trader at Macro Ops. Alex joined the US Marine Corps on his 18th birthday just one month after the 9/11 terrorist attacks. He subsequently spent a decade in the military. Serving in various capacities from scout sniper to interrogator and counterintelligence specialist. Following his military service, he worked as a contract intelligence professional for a number of US agencies (from the DIA to FBI) with a focus on counterintelligence and terrorist financing. He also spent time consulting for a tech company that specialized in building analytic software for finance and intelligence analysis.

After leaving the field of intelligence he went to work at a global macro hedge fund. He’s been professionally involved in markets since 2005, has consulted with a number of the leading names in the hedge fund space, and now manages his own family office while running Macro Ops. He’s published over 300 white papers on complex financial and macroeconomic topics, writes regularly about investment/market trends, and frequently speaks at conferences on trading and investing.

Macro Ops is a market research firm geared toward professional and experienced retail traders and investors. Macro Ops’ research has been featured in Forbes, Marketwatch, Business Insider, and Real Vision as well as a number of other leading publications.

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