Why is he heavily invested in Carvana? Investor Clifford Sosin on the "Amazon" of cars
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- เผยแพร่เมื่อ 15 พ.ค. 2024
- Here we are talking with Cliff Sosin (CAS Investment Partners) about his investment in Carvana, shorting, and his advice for young investors.
Here is the first part • How to generate ideas?... and here the second part of our interview • What matters in 10 yea... . The third part can be found here • Why he went long Herba... .
00:00 Cliff Sosin's Carvana share in the portfolio.
At 4:34 Cliff explains to us why he shorts in general.
At 7:06 we talk about the size of the short in his portfolio.
At 8:07 Cliff tells his 10-year perspective for Carvana.
At 14:22 Cliff explains why he did not invest in the FAANG stocks
At 15:55 we talk about a potential acquisition target for Carvana.
At 19:07 we are talking about disruptive risks through electric cars and self-driving cars.
At 32:11 Moritz asks Cliff for advice for young investors.
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#valueinvesting #shorting #carvana
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Here is the transcript of our conversation: www.good-investing.net/2021/09/21/cliff-sosin-carvana-stock/
This aged well.
😂😂
he’s invested for the next 10 years, so this didn’t aged yet
@@moretuscapital3377 Someone sounds like a bag holder 🤣
@@b.sharp. I bought Carvana for the first time at $4,5 so not really all documented btw
@@moretuscapital3377 if you bought it at 4½, you should get out. You're hanging on to a zombie business with no way to self sufficiency. Cliff, Rob Vinall, all the "superinvestors" that like this stock have wildly bad takes on it because they run funds. They don't run car dealers. They don't live and breathe this company like a Lucky Lopez does (who gave a very well thought out opinion on it). I'd urge you to seek his channel out and watch his Carvana videos. He was warning people before Carvana hit its rough spot ~a month prior to it happening. The Garcia family used Carvana and investors as their personal piggy bank. You shouldn't continue to let them do it to you all the way to zero. That's where this ends up because it wasn't built for anything else. They did this with DriveTime too.
I just looked at Cliff’s portfolio on dataroma to make sure I do not have any stock he does
would be to nice to see an updated interview from Clifford with his bull case because nowadays Carvana is getting bearish publicity all over the presses which is overdone a lot...
Great one👍
More Cliff Sosin, please 😊!
I could listen to Cliff talk all day
Why?
It's been 2 years and 10 months since this video was uploaded. Have a look at the Caravana stock. Ouch!
does anyone know when this interview was conducted?
May 2019
What kind of person buys a used car - an expensive, complex machine that can have a lot of costly problems depending on its condition - sight unseen?
I see you made these videos in segments.
what was the date of the of the actual Interview?
thanks love the channel.
Sorry for the late reply. May 2019
Not sure if this is relevant but to a customer theyre much more expensive. Thats just me being cheap perhaps...and theyre still not making enough profit to make sense to me to buy in....yet.
This aged well!
Does this guy still own Carvana on July 22, 2022?
Yes. I think he even bought more.
Do they really have lower cost compare to the dealer ship?
Who cares at this point! Looks like they're going bankwupt!
CVNA is up, operating losses increase, int exp up, no net income on horizon. if this unit economics works, bezos would be all over the place
Carvna is going BK
Would love to get an update from Cliff about Carvana - from today’s viewpoint, the company looks like a total mess… did he see this coming, or is he even still I
invested?
Sure. He is still invested :).
@@GoodInvestingTalks he is invested because he has to be?
@@GoodInvestingTalks Is he still invested today?
U do alot of interviews with this guy
@@GoodInvestingTalks cool
From $14bn market cap to $800bn market cap over 15 years is a 31% CAGR!
Hey, I love your content as well.
Spotted you over here in the comments while listening.
Carvana is just another variation of trendy shit...Uber, AirBnB......app this, app that...Anyone who buys a car without seeing it/driving it deserves what they get
still invested?
I think so. He seems to be holding ca 7% of the company.
Revisiting this video now that the stock is WRECKED!
Glad I didn't care for the story and didn't invest!
Let's see and talk in 10 years again. Hope the company and we both are still around then.
@@GoodInvestingTalks Are the current investors going to lose everything in the next 2 week? LOL!
The LCD in the background is annoying.
It's Bloomberg ;)
oh dear o dear o dear
carvana sells hundreds of cars not thousands in a quarter for last 3 years without any growth. i don't see them making money in long run.
Not quite 3 years since you wrote this: You were quite spot on! CVNA stock is WRECKED!
@@RemiStardust its time to buy when it goes below 10. It could go back up to 80 if supply chain issues persist or new cars cost more. I was in the market to get a new car but no inventory. Have to settle for used one.
At current prices, CAS Capital has surely made money. But half of this guys claims are true for Vroom and Carnac as well. All his claims are made to contrast with a local dealership.
I simply cannot understand how Carvana commands a $300 price per share...
Why?
@@GoodInvestingTalks because nothing about this company suggests it should command that type of premium to its peers. Do you feel differently...?
Your argument is no different than anyone who claims that Tesla is overvalued because it’s trading at a much higher multiple than it’s peers...
It’s a growth stock for a reason. If you consider that the top 100 used auto retailers by sales volume account for less than 1% of total used auto sales annually, it’s quite reasonable to suggest that Carvana is positioning itself to be the first ever globally scaled seller of used auto
@@wheresmyhandle and yes, I consider TSLA to be massively overvalued...
Goes to show even the best investors can get it wrong, very wrong
well, maybe he's not one of the 'best investor'
Accounting irregularities, insider enrichment payments and misleading marketing materials....
Can you tell me more about the misleading marketing materials?
Could be a short ;) definitely is Carvana not an value investment...
Hope you didn't short it.
@@GoodInvestingTalks lol
@@GoodInvestingTalks hahaha
@@GoodInvestingTalks this comment aged well
@@GoodInvestingTalks Hope he did cause turns out its a fraud! hahahahaha
😂🤣😂🤣
lmao
now we all know its scam stock right :)
Do we?
@@GoodInvestingTalks You're NGMI
What do you mean?
rumbling, BS, makes no sense...
Here we are in 2023 and this ended just as expected. This guy reeks of BS
Investing is hard. Since your comment the stock is up 100%. PS: I have no position in Carvana.
Carvana is a total joke and will go bankrupt
Why? :)
@@GoodInvestingTalks It's losing hundreds of millions of dollars every quarter? Not to mention the only reason it ever did OK was the Fed buying ABS so that Carvana could lend to anyone with a pulse without concern for whether the borrower would ever make one payment on the loan (because Ally would buy the ABS and sell it to Fed). Now that Fed & Ally are not buying, CVNA is done. Would be BK already except that Apollo wanted their assets in BK.
CAS talks about CVNA like it's a real business executing a novel, non-replicable idea. It's not -- Carmax has been in the game for years and doing it as well as it can be done.
Did this guy commit suicide?