TIP837: ADOBE, LULULEMON, PAYPAL – ARE OUR BIGGEST LOSERS A BUY NOW?

W/ DANIEL MAHNCKE & SHAWN O’MALLEY

TIP837: ADOBE, LULULEMON, PAYPAL – ARE OUR BIGGEST LOSERS A BUY NOW? W/ DANIEL MAHNCKE & SHAWN O’MALLEY

12 August 2026

Daniel Mahncke and Shawn O’Malley take a trip down memory lane and look back at the pitches of the last year and a half – especially the ones that didn’t work out as hoped. Many companies that were seen as best-in-class businesses not too long ago experienced massive drawdowns in the last year. Some of them were covered on this show, and others even made it into the portfolio. 

Daniel and Shawn discuss the patterns of the stocks that lost most in value, what one can learn from that, and how the market shift towards AI changed how they invest. The companies discussed today are Adobe, Lululemon, PayPal, Trade Desk, and CoStar.

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IN THIS EPISODE, YOU’LL LEARN:

  • About Adobe’s downfall and future outlook
  • Why Lululemon had to leave the portfolio
  • What made us sell PayPal
  • Why Trade Desk never made it into the portfolio
  • Whether Daniel’s and Shawn’s conviction in CoStar is broken
  • What Daniel and Shawn learned from the companies above
  • And much, much more!

Disclosure: This episode and the resources on this page are for informational and educational purposes only and do not constitute financial, investment, tax, or legal advice. For full disclosures, see link.

TRANSCRIPT

Disclaimer: The transcript that follows has been generated using artificial intelligence. We strive to be as accurate as possible, but minor errors and slightly off timestamps may be present due to platform differences.

[00:00:00] Daniel Mahncke: Welcome back to The Investor’s Podcast. Today’s episode is number 837. And it’s also a little anniversary because it’s the 90th episode of our stock research episodes. And the last stock I pitched to you, Shawn, was dLocal.

[00:00:14] Shawn O’Mallley: Yeah, you tortured me with another payments company. But I got to admit, for this one, it was a brilliant business, growing something like 50 percent plus high returns on capital, massive cash flows and all that for a very reasonable price with a mid-teen multiple.

[00:00:28] Daniel Mahncke: Well, today I have something different to talk to you with. And instead of looking at a single stock, I want to go through a couple of stocks that we covered here on the show at some point, and some of them were used to own, but then we sold them some we still hold, but I feel like we should give an update because it’s been some time and some we have covered you on the show, but we never owned them. In fact, I only picked out stocks that tanked a lot since we looked at them, and we’ll sort of analyze why they tanked, what we all can learn from those situations and whether those stocks are worth buying at today’s prices.

[00:01:00] Shawn O’Mallley: Well, if you enjoy laughing at our mistakes, this should be a fun one for you.

[00:01:08] Intro: Since 2014, with more than 200 million downloads. We have interviewed the world’s best investors, studied deeply the principles of value investing, and uncovered many compelling investment opportunities. We focus on understanding businesses and intrinsic value, investing accordingly and sharing everything we learn with you. This show is not investment advice. It’s intended for informational and entertainment purposes only. All opinions expressed by hosts and guests are solely their own, and they may have investments in the securities discussed. Now for your host, Shawn O’Malley and Daniel Mahncke.

[00:01:54] Daniel Mahncke: In case you don’t follow The Investor’s Podcast for too long yet on this show, my co-host Kyle and I alternate on pitching you, Shawn, our favorite new stock ideas each week. And the end goal is to basically find great businesses that we can integrate into our Intrinsic Value Portfolio of stocks. Today, though, as you heard in the introduction, we’ll do something slightly different by looking at stocks that we covered in the past, and especially the ones that unfortunately turned against us. And I’m honestly not quite sure where we want to start here today, because if we first discuss the companies that we actually own or owned in The Intrinsic Value Portfolio, we might get into a bad mood.

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