Jim Royal, Author of "Zen of Thrift Conversions", joins the podcast to provide the basics of "Thrift Conversions", what that means, as well as examples that help illuminate them.
Jim's book, "Zen of Thrift Conversions", available on Amazon: https://www.amazon.com/Zen-Thrift-Conversions-Hidden-Stocks/dp/B08KH3THCR?crid=1RO9I0CVP07JD&keywords=the+zen+of+thrift+conversions&qid=1704737642&sprefix=zen+of+thrift,aps,161&sr=8-1&linkCode=sl1&tag=andrew613880e-20&linkId=aa5821380d1063911549c0014b02427a&language=en_US&ref_=as_li_ss_tl
Chapters:
[0:00] Introduction + Episode sponsor: Fundamental Edge
[1:49] The basics of "Thrift Conversions"
[8:51] Safety
[11:25] Management incentives
[15:46] How can investors participate in IPO of thrift conversions
[19:58] Needham
[23:50] Thrift Conversions in current banking environment
[27:26] Return on equities and repurchases
[35:39] Characteristics of poor de-mutualizations and thrift conversions
[39:14] Investor Activism
[45:08] Why thrift conversions sell during a given time frame and why some don't
[47:36] Worthwhile for investors to look at second step conversions (because so complicated)?
[51:00] Lightening round: why more mutuals in the Northeast than elsewhere? How much does geography matter?
[53:59] Three (3) interesting de-mutualizations to look at, according to Jim Royal
Today's episode is sponsored by: Fundamental Edge
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