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	Podcast:		Yet Another Value Podcast
	Episode:		Dave Waters of Alluvial Capital on $PX
	Category:		Business
	Duration:		01:01:12
	Publish Date:		2022-09-16 13:00:00
	Description:		Dave Waters of Alluvial Capital comes on the pod to discuss his investment thesis on $PX. You can find Dave's original podcast appearance, where he discuss PX when it was still PIOE and some other small caps, here: https://twitter.com/AndrewRangeley/status/1300763059267481600?s=20 Chapters 0:00 Intro 2:15 PX Overview 3:30 Management fee streams 5:10 Is PX's focus on fund of funds a concern? 8:25 Disintermediation risk for fund of funds 11:50 What is the market missing at PX? 15:20 Why PX versus a larger alt? 18:30 Comparing PX to KKR 23:20 PX's acquisition outlook 25:15 Can PX really cross sell funds? 28:15 More on PX's acquisitions 30:00 Adverse selection in fund of fund acquisitions 34:00 PX's recent CRSS investment 42:30 Why isn't PX buying back stock? 46:30 How PX's stock will get more liquid over time 48:15 PX's management team track record 52:00 Why Dave's digging in Italy and Poland
	Total Play:		0