You know you have made it as an investment manager when someone is willing to create a sketch of you to attach to an interview!

Eugene and I recently hit that milestone when we discussed our investment in Lumen Technologies (LUMN) with the hosts of the We Study Billionaires podcast, one of the many great podcasts under The Investor’s Podcast umbrella.

We always enjoy a conversation in which we get to dive deep into a single security and describe why we think it is materially undervalued. In this case, Eugene and I described Lumen’s numerous business lines, explained what we think other investors are missing, and laid out a framework for valuing Lumen’s various parts.

If you are interested in learning more about why LUMN is one of the largest positions in our Small Cap Plus strategy, please listen to the interview.