OM DENNE EPISODE
This episode is brought to you by Sarmaya Partners. Learn more about Sarmaya’s LENS ETF, their full data and comparison, including performance here: https://sarmayaetf.com/
Charles Lemonides, CIO and founder of ValueWorks LLC, joins Other People’s Money to discuss why the 18-year bull market still has room to run. Lemonides argues that we have not yet reached the explosive "liftoff" phase typical of late-stage bull markets and explains why the biggest gains often come right before the turn. He shares his strategy for finding "growth in value's clothing," highlighting high-upside opportunities in semiconductors, rideshare, delivery, and offshore energy. Plus, he breaks down where he sees extreme overvaluation in the market and breaks down his most compelling short positions.
Learn more about ValueWorks: https://www.valueworksllc.com/
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The Fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. This and other important information are contained in the prospectus, which may be obtained by following the links Prospectus and Summary Prospectus or by calling +1.215.330.4476. Please read the prospectus carefully before investing.
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An investment in the Fund involves risk, including possible loss of principal. Exchange traded funds (ETFs) trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETF’s net asset value (NAV), and are not individually redeemable directly with the ETF. Brokerage commissions and ETF expenses will reduce returns.
ETFs are subject to specific risks, depending on the nature of the underlying strategy of the Fund, which should be considered carefully when making investment decisions. For a complete description of the Fund’s principal investment risks, please refer to the prospectus at https://sarmayaetf.com/
Metals and Mining Companies Risk. Metals and mining companies can be significantly affected by events relating to international political and economic developments, energy conservation, the success of exploration projects, commodity prices, tax and other government regulations. Investments in metals and mining companies may be speculative and may be subject to greater price volatility than investments in other types of companies.
Management Risk. The Fund is actively managed and may not meet its investment objective based on the Adviser’s, Sub-Adviser’s, or portfolio manager’s success or failure to implement investment strategies for the Fund.
Shares of the Fund Are Not FDIC Insured, May Lose Value, and Have No Bank Guarantee.
The Fund is distributed by PINE Distributors LLC. The Fund’s investment adviser is Empowered Funds, LLC, which is doing business as ETF Architect. Sarmaya Partners LLC serves as the Sub-Advisor to the Fund. PINE Distributors LLC is not affiliated with ETF Architect or Sarmaya Partners LLC.
Timestamps:
00:00 Intro
01:00 Are We in a Bubble?
04:14 Rates Growth and Bonds
07:04 Value Investing Reframed
09:37 Micron Peak Earnings Debate
11:20 Intel Foundry
15:24 Sarmaya LENS ETF
16:52 Sizing Themes and Diversifying
18:41 Undervalued Challengers: Lyft & Instacart
29:10 Energy Sector Setup
35:40 Portfolio Construction & Shorts
37:47 Shorting Texas Pacific Land Trust
41:24 Royalty Trusts and Mesabi
47:16 Retail Shorts: Casey’s & Grocers
52:43 AI Industrials, Quantum, & Aerospace
55:37 Offshore Wind and Conclusion
