A roundtable on Angi $ANGI

Dickson Pau, Tom Moore, and Bill Henry, three first years at Columbia Business School, discuss their investment thesis for Angi. The three pitched ANGI in the Pershing Stock Challenge (placing second!), and they go into the due diligence they did putting their investment thesis together, the potential upside they see at ANGI, and all of the different risk factors they thought about.The first Yet Another Value Podcast on ANGI: https://youtu.be/J2trsM41DTUSpring Graham and Doddsville (ANGI pitch on p. 24): https://www8.gsb.columbia.edu/valueinvesting/sites/valueinvesting/files/Graham%20%20Doddsville_Issue%2042_v8.pdfTom's Twitter: https://twitter.com/FriarTom15Dickson's Twitter: https://twitter.com/DicksonPauChapters0:00 Intro and backgrounds2:40 Why they chose ANGI for their pitch7:10 Dickson's DD booking ANGI projects15:00 Takeaways from ANGI expert calls22:20 Fixed price: the most exciting piece of ANGI28:30 How the team views ANGI's new CEO36:20 Why hasn't ANGI hit their merger targets?40:40 Is ANGI's near term decline in service requests concerning?45:50 ANGI's struggles with service providers52:20 Competition risk57:00 Laying out the long term case for ANGI1:00:30 Closing thoughts