Deiya Pernas, co-founder of Pernas Research with a decade in investment, shares his keen insights into the financial world. He discusses his unique investing philosophy that has led to remarkable portfolio returns. Deiya delves into the burgeoning digital payments space, specifically why he's bullish on Remitly while downplaying Wise's competitive threat. He also highlights the crucial role AI plays in shaping future investments, drawing parallels with past technological revolutions. Join him for a captivating exploration of strategic investing!
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insights INSIGHT
Focus On The Business Motor
Investing requires predicting a company's future state relative to its present condition rather than obsessing over current financials.
Seek businesses whose underlying "motor" is strengthening even if short-term financials lag.
insights INSIGHT
Don't Extrapolate Financial Trends
Historical financial trends have low correlation with future financial performance and are a poor sole basis for prediction.
Use past financials only to build context and investigate lifecycle and management responses.
volunteer_activism ADVICE
Size Positions By Downside Risk
Size positions according to downside risk: shrink sizes when downside is large despite big upside stories.
Use tools like Kelly Criterion and average up for concentrated portfolios to manage risk and returns.
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On today's episode, Clay is joined by Deiya Pernas to discuss his investing philosophy, why he sees opportunity for investors in the digital payments space, and why he is closely following developments in AI.
After a decade of experience in the investment industry, Deiya co-founded Pernas Research with his brother in 2023. Since January 2017, the Pernas portfolio has published audited net returns of 27.1% versus the S&P 500’s average annualized return of 14.7%.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
01:44 - Pernas’ overall investing philosophy that has enabled them to crush the market.
04:49 - How we as investors can go about making predictions about an uncertain future.
09:00 - What poker taught Deiya about effective portfolio management.
15:12 - The importance of understanding working capital.
24:39 - Why Deiya is attracted to the digital payments space.
30:28 - An overview of why Deiya is long Remitly.
45:52 - Why Wise PLC isn’t a major threat to Remitly.
49:12 - Why Deiya is closely following developments in AI.
And so much more!
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
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