Dec 10 2024 40 mins 54
Alex and Lord Lee sit down with the CEO of one of the holdings in Lord Lee’s portfolio: James Gundy of the shipping service company, Braemar (BMS).
James has been group CEO since 2021 and he unpacks the ins and outs of running a shipbroker on London’s main market, how it compares to its competitors and its navigation of some complicated geopolitical waters.
As always, the episode closes with an update on Lord Lee’s portfolio changes, including why he’s buying a new real estate investment trust and why he’s focusing on the changes to capital gains tax.
Timestamps
00:59 What the company does
04:23 Lead indicators
07:24 Compared to Clarksons
08:57 How Lord Lee got involved
12:51 Pricing intangibles
16:43 Why shipbroking is dominated by UK-based companies
18:20 Why Lord Lee thought it was a good investment
19:55 Is volatility good for business?
20:59 The sale to Russian oil producer Lukoil
27:16 Is Braemar under investigation?
29:39 Financials
31:58 Dividends
35:10 Lord Lee’s portfolio
38:00 Takeovers
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