Pitch The PM

EP.47: Activist Investor Pushing for an Epic Turnaround at Eagle Bancorp ($EGBN) Aug 20, 2026 00:43:36 My former colleague and banking guru, James Abbott, is living his passion with the launch of Diligence Capital Management (DCM).DCM runs a concentrated, net-long financials strategy alongside a tighter-net long/short financials portfolio. James and his team bring more than 50 years of combined experience in financial services—and a deep understanding of how banks operate, where they underperform,

EP.46 He Trained Bryce Young Before Anyone Knew the Name — Then Built the Fastest-Growing Independent Research Platform on Wall Street Aug 13, 2026 00:34:53 I met Tim Arthurs, the second week when I joined Millennium and knew he was an “A” player. He still has notes from every time he called me on a stock. He’s a process guy. And it has led to his success. He founded Seaport Research Partners, which has become the fastest-growing independent equity research platform by attracting the top research analysts and empowering them with aligned incentives. E

EP.45 Palantir ($PLTR): Is the Leading Growth Rate Sustainable? With Gil Luria, Head of Technology Research at D. A. Davidson Aug 11, 2026 00:56:52 Gil Luria and I dig into the bull case after another blockbuster quarter with 93% YoY growth. The reason Palantir wins is their head start on building an enterprise-wide ontology, unconventional usage of forward-deployed engineers in their SaaS model, and customer-aligned, outcome-based pricing. We debate $PLTR’s valuation, future growth trajectory, and AI-driven software budget crowd-out.“Retail

EP. 44 - She Quit at 29 With No Code, No Co-Founder, No Funding – Now Hudson Labs Is Finance AI that has a “No Hallucination Guarantee” Aug 6, 2026 00:59:43 She Quit at 29 With No Code, No Co-Founder, No Funding – Now Hudson Labs Is Finance AI that has a “No Hallucination Guarantee”Kris Bennatti (@) CEO Hudson Labs (Toronto), a former forensic-accounting data scientist who built the first LLM for finance, back in 2019 before anyone knew what to make of it. Her co-founder/CTO Suhas Pai literally wrote the book – O'Reilly's "Designing Larg

EP.43 - SpaceX ($SPCX) Irrational Exuberance? Space Winner or Street 50% Too High Jul 30, 2026 01:06:35 "Our numbers are not even half of consensus. Treat the syndicate's number as an extremely optimistic bull case.""We think we're already very optimistic—but consensus is even more optimistic.""Launch is what makes 100% of the value of SpaceX.""Frontier AI is building very high barriers to entry.""Everybody wants to be part of the SpaceX story.&qu

EP. 42: Building Data-as-a-Service using AI tokens–Making Decisions on Complete Gut! Jul 23, 2026 00:55:45 "Our data is powering the infrastructure of this massive new market." "Building Data-as-a-Service is a very, very hard business." "difficult problems have big rewards""You're making decisions on complete gut." Braden Dennis is the true definition of an entrepreneur. He started a podcast in his college dorm room and now runs an industry leading Fintech. Fiscal.ai has pivoted three times since incep

EP.41: Student Stock Competition Winners: Is the Magic Show Over? $HAS Short Pitch Jul 20, 2026 01:01:02 "When I see short interest go up into the right... I want to dig deeper.""We came in as a long at first... then we followed the evidence to get to the short side.""Magic has been the crown jewel of the company—but we think expectations have gotten too high."[Using Carbon Arc data] “average weekly users on the app through quarter to date to q2 it's down 11 percent”"You have to be intellectually hon

EP.40: The Next Phase of the Oil Cycle: Why Refiners Win Jul 15, 2026 00:54:11 “These [oil] cycles, and we can get into it, they move up in three waves. They go doubt, pullback, optimism, a pullback, and then parabolic euphoria.”“The well count is starting to bottom out, and even as of the latest Texas Railroad Commission data that was just updating for this call, it looks like that's bottoming out too.”“So I think the best ones that is now front and center is obviously the

EP.39: Bull or Bear debate on META’s AI Capex? With Avory’s CIO Sean Emory Jul 9, 2026 01:02:13 Sean Emory, CIO and Founder of Avory & Co., is one of my go-to investors when I want to pressure-test an investment thesis. While I tend to focus on earnings revisions and the Variant View checklist , Sean goes deep on products, competitive positioning, and invests where the world is heading. In this episode, we debate one of the biggest questions in tech investing today: Is Meta overspending

EP038: AI's Next Surprise Inflection–Construction Rentals? With Jarrett Harris from Iron Advisor Insights Jun 30, 2026 00:43:04 Jarrett Harris, from Iron Advisor Insights was my go to person for industrial channel checks when I was at Citadel and Millennium. He’s from Peoria, IL, the original HQ of Caterpillar ($CAT) and spends his days talking to heavy equipment dealers. He is now part of Iron Connect, a dealer wholesale network with proprietary data that gives me an edge on when the heavy equipment cycles are inflecting.

EP037: SNOW: 1st Inning on AI Cloud Data Winner! With Sonu Chawla, PM of $TSCM Jun 26, 2026 00:36:06 Part 2 of the interview with Sonu Chawla, Co-Portfolio Manager at TimesSquare Capital Management, about one of her team's highest-conviction investment ideas in enterprise AI. Sonu explains why Snowflake sits at the center of the AI data ecosystem, how her team developed conviction to increase its position during a sharp software selloff, and why they believe enterprise AI adoption remains in

EP036: TimesSquare ($TSCM): The Woman in the Arena with Co-PM Sonu Chawla Jun 24, 2026 00:30:55 Against all odds, Sonu has shined at every step of her career. From getting into the Indian Institute of Technology to becoming a Co-PM at TimesSquare Capital Management.We get into what it's like to stand in the Wall Street arena everyday after proving the “nah-sayers” wrong. And why she invests in mid-cap equities at TimesSquare Capital Management and the benefits of being early to investing

EP035: "From Citadel & Millennium to Building AI for the Buy-Side" with Eric Moster Jun 10, 2026 00:44:27 In the new Pitch The PM series, The Wall Street Entrepreneur premier, Doug Garber speaks with former Citadel colleague, Eric Moster, CEO of Portrait Analytics and former portfolio manager at Millennium and Analyst at Surveyor Capital. Eric shares his transition from hedge fund investing into building AI-powered research tools purpose-built for institutional investors. The discussion explores how P

EP 034: T. Rowe’s TURF, is Bullish the Canadian Oil Sands & The Oil Cycle Jun 2, 2026 00:33:00 Priyal Maniar, Co-PM of TURF and Global Energy Analyst, dives deep into why T. Rowe - who manages $1.8 Trillion - is structurally bullish the oil cycle.The marginal cost of production is increasing and US shale geology has peaked meaning the next well is more expensive and less productive. The recent U.S. - Iran war, wipes out the over supply from the start of the year and pulls forward the bullis

EP033 - Cerebras (CBRS): Thematic Winner in AI Compute Shortage with SemiAnalysis’ President May 20, 2026 00:35:33 In this episode of Pitch The PM, Doug Garber speaks with Doug O’Laughlin, President of SemiAnalysis, about the explosive demand for AI infrastructure and the market reaction to Cerebras’ IPO. Doug O breaks down Cerebras’ wafer-scale chip architecture, its advantages in ultra-fast inference, and the limitations caused by memory scaling constraints. The discussion examines how NVIDIA continues to do

EP:32: CBRS: AI’s New Leader? With the Pre-IPO Champ May 14, 2026 01:00:11 In this episode of Pitch The PM, Doug Garber speaks with Chris Murphy about his pre-IPO investment strategy and why $CBRS is his largest investment. Chris previously spent 17 years scaling a multi billion fund and is now focused on his pre-IPO PA (personal account) investment strategy.Chris has dug-in deep, hitting the road and reading heaps of expert call transcripts from Alpha Sense and Third Br

EP:31 Getting into T. Rowe Price - The Right Investment Process (Part 1) May 9, 2026 00:15:46 In this episode of Pitch The PM, Doug Garber sits down with Priyal Maniar, Global Energy Investor at T. Rowe Price | Investment Analyst and Portfolio Manager of Natural Resources ETF (TURF) to discuss the path that led her to one of the most coveted firms on the street.Priyal walks through her journey from BlackRock to T.Rowe, how an early passion for equity research and mentorship shaped her inve

EP030: Remove Macro From Your Stocks May 1, 2026 00:14:20 In this episode, Doug Garber joins The Investment Memo to break down how hedge fund investors navigate macro volatility, manage risk inside low vol pod structures and stay focused on generating alpha.Doug shares how portfolio managers think during “risk-off” environments, why macro should not be your core thesis, and how strategies evolve inside multi-manager platforms.The conversation also dives

EP029: War & Markets | How a Former Sr. Millennium PM invests in Equities Apr 28, 2026 00:19:42 Ep. 29: War & Markets | How a Former Sr. Millennium PM Invests in EquitiesIn this episode, Doug joins Hyun Hong of The Investment Memo to break down how a buy-side investor is navigating today’s market backdrop.Doug shares how he thinks about building a variant view, managing risk in uncertain macro environments, and what’s actually driving the current conversation around oil, war, and recessi

EP028: Teamshares: The Next Programmatic Acquirer Mar 30, 2026 01:06:02 Teamshares: The Next Programmatic Acquirer. Coming Soon: $LOKV → $TMSDoug Garber chats with Michael Brown (Teamshares, TMS) and Rick Hendrix (Live Oak, LOKV) about taking a programmatic acquirer of small businesses public via a DSPAC — the sourcing tech, capital plan, and why this opens a new asset class for investors. 🚀In this episode:How Teamshares buys retirement-sale SMEs, systemizes sourcing

EP 027: Compounder Guru Sean Emory on why Block, $XYZ, is Far From Done Mar 29, 2026 00:35:07 In this episode of Pitch The PM, Doug Garber sits down with Sean Emory, founder of Avory & Co., an investment firm focused on high-conviction, fundamentals-driven investing. Sean recently launched the Avory ETF ($AVRY), bringing his firm’s research-driven stock-picking approach to public investors.Sean outlines his “6 M” investment process that has allowed him to compound at nearly 20% for the

EP026: ($HSY) Hershey’s Sweet Comeback: Historic Cocoa Reversion to Boost Margins Mar 26, 2026 00:22:57 $HSY: Historic Price/Cost Tailwinds as Historic Cocoa Price Spike Reverses 🍫📈Pitch The PM sat down with Mark Rogers (SIGMIT Advisors / Heddy Creek Research) to break down what may be one of the cleanest price-cost setups in consumer staples right now: Hershey ($HSY).After a brutal cocoa inflation cycle crushed margins, cocoa prices are now reversing sharply. The Street has started revising numbers

EP025: Opening the Strait of Hormuz With Kevin Book, ClearView Energy Partners Mar 13, 2026 00:37:06 Opening the Strait of Hormuz with Kevin Book of ClearView Energy Partners | Pitch The PMThe Strait of Hormuz is closed. Twenty million barrels of oil per day flow through that narrow channel. When it shuts down, the world feels it. The duration of the closure is the key to accessing the global ripple effects. Doug Garber sits down with Kevin Book, one of Washington's most respected energy poli

EP 024: Unlocking Venezuela: Governance, Production Potential, and the Global Oil Balance Mar 3, 2026 00:54:33 Doug Garber sits down with Paul Sankey (Sankey Research) and Xavier Smith (AlphaSense) to break down what it would actually take to “unlock Venezuela” — and why the biggest oil-market impact may be second-order (US capex behavior), not an overnight flood of barrels.Despite the headline excitement around a post-Maduro reset and a new hydrocarbons law, Sankey argues Venezuela remains a long-road “in

EP023: The Street Is Ahead of Itself on $DIS - park traffic seeing headwinds Feb 12, 2026 00:42:30 Doug Garber sits down with Sean Kumar (Humbucker Capital) to break down why Disney may be a value trap in disguise.Despite Disney’s evergreen IP and brand cachet, Kumar believes the street is mispricing the economics of DTC, overestimating ARPU growth, and underestimating park fatigue. He walks through his short framework grounded in bottoms-up segment analysis and consensus vs. internal modeling.

EP 022: The better oil equity bet is in Colombia not Venezuela Jan 25, 2026 00:55:21 🎧 The better oil equity bet is in Colombia not Venezuela | with Venezuelan-American, Danny Pidert Hernández | Pitch The PMAfter the U.S. extracted Maduro, investors scrambled to re-underwrite the LatAm energy map.Doug Garber sits down with Danny Pidert Hernández — hedge fund manager, Venezuelan-American, and boots-on-the-ground LatAm research pro — to break down the real variant play emerging post

EP 021: Make America skinny again? The oral GLP-1 opportunity at Eli Lilly ($LLY) Jan 15, 2026 01:01:22 Eli Lilly’s oral GLP-1 is going to change how the obesity market can scale.In this episode of Pitch the PM, Doug Garber speaks with Sriker Nadipuram, a founding member of Critical Value Asset Management, a long/short equity fund focused on biotechnology and pharmaceuticals. Doug and Sriker unpack why oral delivery matters for access, and long-term earnings power. The discussion focuses on how beha

EP 020: Is Open AI in trouble? Dec 23, 2025 01:04:17 In this episode, Doug sits down with Gil Luria, head of technology research at D.A. Davidson, for a wide-ranging and candid discussion on the current state of the AI arms race.Key Takeways:OpenAI has over-promised on the $1.4T of commitments to ORCL, CRWV, etc… and likely has to renegotiate and reduce the scope of its ambitions across the AI value chain to focus on their core like ChatGPT. There a

EP 019: Data Center & Energy Transitions Impact on the Oil & Natural Gas Markets Dec 12, 2025 01:08:49 In this Alpha Sense sponsored webinar, we discuss how AI’s power demand is rewriting the energy equation.What started as a “data problem” has become an energy story — and few people have thought more deeply about that intersection than Arjun Murti, former Goldman Partner and author of Super-Spiked.Together, we unpacked:- How data centers consistent energy requirements are changing natural gas mark

EP.018 Behind the Curtain: Life Inside Top Hedge Fund Platforms Nov 25, 2025 00:53:23 Doug Garber, former Citadel analyst and Millennium Senior PM, joins the Odds On Open podcast to unpack his experience inside two of the top multi-manager platforms. Up and comer, Ethan Kho, explores the culture inside these two leading alternative asset management firms. We explore what defines success at each firm and what really separates the PMs and analysts who thrive from those who don’t. Do

EP.017: Time to take profits in NBIS or is it the next AWS? Nov 5, 2025 00:52:45 In this conversation, Doug sits down with Sinan Xin, managing partner at Amber Road, to discuss the “lost art” of international investing and dive deep on Nebius ($NBIS) — a misunderstood name in the global AI infrastructure ecosystem. Sinan has followed the company since its spinout from Yandex and built a position around $25 post-relisting earlier this year. Here he explains why Nebius now repre

EP.016: Trick or Treat: The Unfolding RMCF comeback story. 10-to-1 Risk-Reward Oct 30, 2025 00:54:59 In this episode of Pitch the PM, Doug Garber sits down with Jeff Geygan, CEO of Rocky Mountain Chocolate Factory (RMCF), and Carrie Cass, the company’s CFO, to discuss how they’re rebuilding one of America’s most recognizable confectionery brands.The conversation goes far beyond chocolate — it’s a candid look at what real operational transformation looks like inside a small-cap public company.They

EP.015: From Fidelity to Fudge: Jonathan Kasen’s Buffett-Inspired Bet on Chocolate Oct 16, 2025 00:45:04 Jonathan Kasen spent over a decade as a portfolio manager at Fidelity, analyzing industrial and energy companies through the lens of four key elements: organic growth, operating leverage, free cash flow conversion, and reinvestment opportunities. Today, he’s applying those same principles to his latest venture: chocolate.In this episode of Pitch The PM, Jonathan joins Doug Garber to talk about his

EP.013: AI Capex Super-Cycle: A Deep Look at Emerging Tech Trends and Bottlenecks Sep 19, 2025 01:15:19 The AI Capex Super-Cycle is well underway. We dive deep with Doug O'Laughlin, the President of SemiAnalysis - the leading field level industry experts and Michelle Brophy, the TMT DoR at AlphaSense. Watch the webinar now: https://lnkd.in/eUat9NyuIn this AlphaSense sponsored webinar we dive into all the key debates and which companies and products are winning across the entire AI Capex ecosystem. T

EP.012: Hydra Host: "The GPU Whisperer" Aug 4, 2025 01:07:07 Welcome to Pitch The PM, where host Doug Garber is joined by Aaron Ginn, CEO and Co-founder at Hydra Host.— — — —In this episode, Doug Garber and Aaron Ginn to unpack the forces reshaping the global AI infrastructure stack. They dive deep into Nvidia’s growing dominance and explore how CEO Jensen Huang is building an ecosystem designed to sideline the hyperscalers, financing their destruction whil

EP.011: VSTS: Sandbagged guide & new CEO’s turnaround plan could be a catalyst + high short interest Jul 29, 2025 00:50:28 Welcome back to another episode of Pitch The PM. In this episode, Doug Garber flips roles and steps in as the analyst pitching Vestis Corporation (VSTS)—a recent spin-out, route-based industrial with a new CEO taking the helm after missteps from the initial CEO. Former SAC PM Hugh Anderson plays the part of portfolio manager, dissecting the thesis and poking holes in the evidence. Together they ex

EP.010: Is $ZM the Next Stealth AI Winner? Jul 24, 2025 00:49:44 This episode is a replay of a webinar recorded on May 15th, where Ed Moya interviews Doug Garber, founder of Pitch the PM and Westport Alpha. Doug walks through his 10-step Variant View Checklist to make the case for Zoom ($ZM). Once seen as a COVID-era relic, Zoom is now a misunderstood, cash-rich business with sticky enterprise traction, product expansion into UCaaS, and a setup that offers asym

EP.009: Cigar Butt Morphing into a Compounder: 50% of NAV & Pivoting to Higher Return Industries Jul 9, 2025 00:46:05 In this episode of Pitch the PM, Doug welcomes Mark Layton, CFO of Mammoth Energy Services (NASDAQ: TUSK), to explore one of his highest conviction investment ideas and his first of twenty lifetime “Buffett punchcard” investments. This small cap company ($132 MM market cap) is valued below cash levels ($150 MM) with the market giving the company no credit for its existing businesses or underutiliz

EP.008: Palantir ($PLTR): Irrationally Overvalued - Could Significant Index Rebalance be the Catalyst to Break it? Jun 18, 2025 00:40:02 In this episode of Pitch The PM, host Doug Garber sits down with Adam Parker, founder of Trivariate Research, to discuss one of the market’s most buzzed-about stocks—Palantir (PLTR). Parker brings a sobering view of why PLTR’s irrational valuation could be set to crack on a significant index rebalance. After increasing over five fold over the last year and reaching a market cap of over $300 billi

EP.007: JAZZ: Value with an Oncology Catalyst - 5x Risk-Reward Ratio Jun 5, 2025 01:00:20 Welcome back to another episode of Pitch the PM. In this episode, Doug speaks with biotech expert, Sriker Nadipuram from Critical Value Asset Management, about Jazz Pharmaceuticals Although outside Doug’s typical investment lane, the conversation highlights shared frameworks and rigorous research methodologies. Sriker unpacks Jazz’s business model, detailing its base business in neurology and the

EP.006: NVDA: Understanding the Bear Case May 15, 2025 00:58:33 Pitch The PM Live Doug Garber breaks down his thesis on the future of NVIDIA using his Variant View checklist. He draws on insights from his recent episode with Gil Luria and incorporates real-time analytics from our show sponsors 5 key points discussed:✅ Customer capex from a couple Big Tech customers is flattening out sequentially and that should make it hard for NVDA to continue to beat already

EP.005: Inside The Process Of A Successful Portfolio Manager May 6, 2025 00:50:32 A couple of weeks ago, Pitch The PM host Doug Garber had the opportunity to interview on the Searching Smarter Podcast at Selby Jennings. Selby Jennings is doing great work with Searching Smarter, so be sure to catch their latest episode here: https://youtube.com/@selbyjennings8854?si=xxoGyPPIopsnhMcN📩 Subscribe to our newsletter for research updates and new high-conviction episodes from top PMs &

EP.004: Nvidia ($NVDA): As Good as it Gets Mar 19, 2025 01:19:13 Welcome to Pitch The PM where host Doug Garber is joined by Gil Luria, Head of Technology Research at D.A. Davidson for a deep-dive on NVDA.— — — —📩 Subscribe to our newsletter for research updates and new high-conviction episodes from top PMs & Analysts. ⁠https://lnkd.in/ekkxjp6z— — — —In this episode of Pitch The PM, Doug and Gil candidly debate where Nvidia is in the GPU cycle, how Nvidia c

EP.003: Pool Corp ($POOL): Reverse Engineering Berkshire’s Investment, Buying a Great Company in a Lull Feb 13, 2025 00:37:18 In addition to presenting high-conviction investment ideas, we also reverse engineer great investors’ theses to improve our process. Pool Corp. has a leading position in a good industry and has demonstrated the ability to consistently grow FCF/share in the mid-teens with a high ROIC. The current post-COVID pool industry downturn has led to negative sentiment, and long-term investors of great compa

EP.002: Zoom ($ZM): Growth Acceleration, A Catalyst Feb 6, 2025 01:24:00 Hello and welcome back to Pitch The PM, where we debate high-conviction investment ideas with top PMs using our 10 Step Variant View Investment Checklist. — — — —2-2.5x Return Potential. Post the COVID stock bubble, a laser-focused management team at Zoom worked to transform from a single-product company to an Enterprise platform. Revenue growth acceleration from low single-digits to high single-d

EP.001: Barnes & Noble Education ($BNED): 3x Return Potential on Turnaround Dec 21, 2024 00:51:45 In the first episode of Pitch the PM, ex-Citadel Analyst & Millennium Senior Portfolio Manager, Doug Garber, grills, Analyst, Alex Nuta's BNED pitch. The Analyst uses the 10 Step Variant View Investment Checklist to convince his PM that BNED has the potential to be a 3-bagger.

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