In this episode, I sit down with Andrew Walker for a deep dive into one of the market’s most controversial companies: Strategy (formerly MicroStrategy).
We break down whether Strategy deserves to trade at a premium to its Bitcoin holdings, the hidden risks inside its capital structure, why Andrew is bearish on the common stock but long the preferred shares, and what investors may be missing about the broader “Digital Asset Treasury” trade.
We also explore corporate governance “dark arts,” using ZoomInfo as a case study, discuss why today’s market feels increasingly volatile, and talk about how AI is completely changing the future of investment research.
Topics covered:
- The bull vs bear case on Strategy / MicroStrategy
- Bitcoin treasury companies and NAV premiums
- Convertible debt and preferred stock risk/reward
- Corporate governance incentives
- How AI is transforming professional investing research
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