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Yet Another Value Podcast

Yet Another Value Podcast

By: Andrew Walker
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Summary

 Yet Another Value Podcast is a new podcast from Andrew Walker, the founder of yetanothervalueblog.substack.com/. We interview top investors and dive deep into stocks and companies they are currently working on and investing in. While nothing on this channel is investing advice and everyone should do their own diligence, our goal is to frequently feature edgy and actionable value and/or event driven ideas. Please see our legal and disclaimer at: https://yetanothervalueblog.substack.com/p/legal-and-disclaimerAndrew Walker Economics Personal Finance
Episodes
  • $LBTYK: can Liberty Global finally spin to win? | Stock Spin-Off Investing's Rich Howe

    $LBTYK: can Liberty Global finally spin to win? | Stock Spin-Off Investing's Rich Howe
    May 10 2026

    Rich Howe of Stock Spin-Off Investing makes the bull case for Liberty Global ($LBTYK): cheap on a sum-of-the-parts, an upcoming Ziggo spin to crystallize value, and a hidden ventures portfolio. Andrew pushes back hard on Malone, Fries, and Liberty's long history of value that never quite shows up.

    Chapters:

    00:00 Introduction and Liberty Global thesis

    01:44 Sponsor: AlphaSense earnings season

    04:49 Rich's bull case for $LBTYK

    07:46 Andrew on management credibility

    09:05 Why a spin can unlock value

    11:57 Buybacks: are they actually working?

    15:19 Debt structure and the deleveraging path

    17:14 Operational deterioration risk

    19:52 Ziggo's subscriber losses

    24:09 Malone and Fries: the track record

    27:46 The Liberty Global board problem

    31:22 The growth investment portfolio

    32:59 Why Rich haircuts the portfolio

    36:43 Formula E and venture exposure

    38:35 The empire-building risk

    40:55 Virgin Media O2 restructuring

    42:11 Other spin-off setups worth a look

    43:40 Ziff Davis sum-of-the-parts

    46:52 Andrew on distressed SaaS ideas

    48:22 Lionsgate and media consolidation

    51:53 Lionsgate as an acquisition target

    Links:

    Yet Another Value Blog: https://www.yetanothervalueblog.com

    Stock Spin-Off Investing (Rich Howe): https://www.stockspinoffinvesting.com

    Legal disclaimer: https://www.yetanothervalueblog.com/p/legal-and-disclaimer

    Production and editing by The Podcast Consultant: https://thepodcastconsultant.com/
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    54 mins
  • $STVN: are oral GLP-1s really a death blow? | Aurelian Research's Leo Trudel

    $STVN: are oral GLP-1s really a death blow? | Aurelian Research's Leo Trudel
    May 5 2026
    Stevanato (STVN) makes the glass vials and pre-filled syringes that GLP-1 drugs ship in. The stock has sold off on fears that oral GLP-1s replace injectables, but Aurelian Research's Leo Trudel argues that's a misread: biologics demand keeps growing, the mix is shifting toward higher-margin "high-value solutions," and switching costs in regulated drug delivery are real. We dig into the bull case, the oral-vs-injectable debate, capacity and oversupply risk, capital allocation, regulatory lock-in, and what would change Leo's view.[00:00:00] Podcast intro and guest welcome[00:03:08] Stevanato's business model: vials, syringes, high-value solutions[00:03:51] COVID boom and the destocking cycle[00:06:39] Why the stock sold off and what it implies[00:07:34] Market expectations vs. reality[00:11:55] Margin expansion from mix shift[00:14:40] Oral vs. injectable GLP-1s: the real debate[00:17:30] Why oral and injectable aren't interchangeable[00:19:44] Capacity additions and oversupply risk[00:21:00] Biologics demand beyond GLP-1[00:23:04] Management trust and capital allocation[00:26:52] Regulatory lock-in: the real moat[00:29:42] What could break the bull case[00:30:53] Future capex and where it goes[00:32:41] Industry structure and M&A outlook[00:34:37] AI tools in investment research[00:38:09] Closing thoughts and Leo's stanceLinks:Yet Another Value Blog - https://www.yetanothervalueblog.comSee our legal disclaimer here: https://www.yetanothervalueblog.com/p...Production and editing by The Podcast Consultant - https://thepodcastconsultant.com/
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    39 mins
  • Can Sprout Social Survive the SaaSpocalypse with Pernas Research's Deiya Pernas $SPT

    Can Sprout Social Survive the SaaSpocalypse with Pernas Research's Deiya Pernas $SPT
    Apr 30 2026

    In this episode of Yet Another Value Podcast, host Andrew Walker speaks with Deiya Pernas of Pernas Research about Sprout Social (SPT) and the broader SaaS selloff. They examine the company’s platform, competitive positioning, and whether the market is mispricing its long-term potential. The discussion covers API complexity, integrations, AI risks, and shifting perceptions across SaaS. They also address valuation, stock-based compensation concerns, and possible catalysts including governance changes or acquisition interest. The conversation closes with a wider look at the so-called SaaS apocalypse and where opportunities may exist.

    ____________________________________________________________

    [00:00:00] Introduction and guest overview

    [00:03:59] Sprout Social business model explained

    [00:05:38] Market mispricing and SaaS selloff

    [00:09:53] Fundamentals versus market perception debate

    [00:12:05] SaaS valuation reset discussion

    [00:13:45] Platform capabilities and customer usage[00:15:16] API complexity and competitive advantage

    [00:18:58] Compliance risks and AI concerns

    [00:21:48] Platform competition from social networks

    [00:23:50] AI disruption and company adaptation

    [00:27:07] Systems of record skepticism discussed

    [00:30:00] Integrations and switching costs impact

    [00:31:01] Stock-based compensation concerns raised

    [00:32:01] Dilution risks and sustainability issues

    [00:33:48] Governance changes as potential catalyst

    [00:35:49] Management turnover and uncertainty

    [00:36:46] Acquisition potential discussed

    [00:38:59] Broader SaaS opportunities and risks

    [00:42:11] SaaS durability versus AI disruption

    [00:45:36] Lack of insider buying observations

    [00:46:55] Criticism of board incentives

    Links:

    Yet Another Value Blog - https://www.yetanothervalueblog.com

    See our legal disclaimer here: https://www.yetanothervalueblog.com/p/legal-and-disclaimer

    Production and editing by The Podcast Consultant - https://thepodcastconsultant.com/
    Show More Show Less
    50 mins
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