Yet Another Value Podcast Lake Cornelia Capital's Judd Arnold on $TOI and a bunch of other stuff
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Jan 8, 2026 Judd Arnold, founder of Lake Cornelia Capital and a savvy investor focusing on inflection investing, shares insights on $TOI's innovative oncology model. He discusses the nuances of merging liquidity with unique investment opportunities. Judd emphasizes the importance of identifying stories at inflection points and contrasts simplistic valuation approaches with complex, high-potential investments. He also dives into risk management strategies and the role of consulting in shaping his investment decisions, making this a must-listen for finance enthusiasts.
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Judd's Personal TOI Trade History
- Judd described his personal trade cycle in TOI: he bought at $0.35, rode it to $2.20, sold at $0.65, and later saw it dip to $0.12.
- He still owns roughly 2–4% of the company and models big upside if execution continues.
TOI Cuts Costs With Better Drug Economics
- TOI's model pairs lower-cost drug procurement with outpatient care to undercut hospitals.
- They profit on dispensing economics and cheaper treatment menus while improving patient outcomes.
Assess MSO Scalability By Local Density
- Evaluate scaling by clinic density and oncologist leverage before sizing a healthcare MSO.
- Prefer markets with sufficient patient and clinician density so MSO contracts can control clinician behavior.