Andrew Freedman – TMT talk!

Andrew Freedman stops by The Business Brew for a discussion about the ever changing media landscape.  In this discussion, Andrew articulates how he views valuation, what makes stocks good “long” and “short” candidates, and how his process has evolved over time.  There’s a lot of company specific discussion here.  We hope it is beneficial, educational, and entertaining.

Andrew’s official bio reads as follows:

Andrew Freedman, CFA, is a Managing Director and Communications Sector Head at Hedgeye. In addition, he holds Senior Analyst responsibilities on the Health Care Team where he specializes in Information Technology. Before joining Hedgeye in 2014, Andrew worked for an institutional consulting firm where he was responsible for client asset allocation and investment manager due-diligence. Andrew is a CFA® charterholder and holds a Bachelor of Science degree from Marquette University in Finance and Business Economics.

Hedgeye is an independent investment research firm covering 10 fundamental/industry sectors, macro and policy. We provide actionable long/short ideas to institutions (hedge funds, mutual funds, and family offices) and RIAs/Individuals. Institutional research includes access to deep dive fundamental reports (black books) on individual stocks, thematic/industry analysis, proprietary and third party datasets, industry thought leader calls, company models, one-on-one analyst access and more. We do not have a broker dealer and don't do banking. Please contact [email protected] if you are interested in learning more about Hedgeye's research offerings.

Detailed show notes below the Stream by Mosiac sponsor copy and thank yous.

Please leave us a rating in your favorite podcast player!

This episode is brought to you by Stream by Mosaic, a product that is integral to any fundamental research process.  Stream has developed an extensive library of expert interviews that cover a variety of industries.  StreamRG.com features over 300 expert interviews.  70% of Stream's experts are found exclusively on StreamRG.com.  Visit StreamRG.com and use promo code BREW for a 14 day trial.

Album art photo taken by Mike Ando.  Please see https://www.mikeando.com/

Thank you to @mathewpassy (on Twitter) for the show production.

Detailed Show Notes

5:40 – What Andrew offers at Hedgeye

8:50 – How “scuttlebutt” helps Andrew

9:50 – What are Hedgeye’s “Quads”

16:35 – How Andrew thinks about long/short recommendations/allocations

17:50 – What Andre’s business looks like (and how Hedgeye is like Formula One)

23:50 – Why Andrew recommended short SNAP long TWTR

35:50 – How Andrew thinks about his business and what his incentives are

41:40 – A discussion on cable

43:25 – Roku discussion with a good valuation component

47:20 – Why cheap gets cheaper when growth is slowing and expensive gets more expensive when growth accelerates

53:50 – Why Andrew called the Altice short correctly

1:02:50 – Roku’s international roll out followed by a discussion about their distribution strategy

1:15:20 – What will Comcast do in this changing world?

1:22:50 – Back to Roku

1:33:50 – Closing discussion