The leading edge equity research process
for investment nerds.
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Featured Research
NVDAIn this episode of Pitch The PM, Doug and Gil candidly debate where Nvidia is in the GPU cycle, how Nvidia came to dominate the advanced chip market and what the road map looks like for advanced chip supply and demand. Gil outlines the current state of the industry for GPU chips that is in short supply and how the behavior of some key customers, like Microsoft, might be shifting to focus on returns over growth.
With hyperscalers looking to develop their own chips, the conversation raises an important question— who will step in to sustain Nvidia’s growth if its biggest buyers start pulling back? Gil lays out his case that Nvidia’s rapid expansion is slowing, with a potential revenue decline in CY 2026 that could lead to a lower valuation multiple. This discussion challenges the market’s expectations and explores what could be next for Nvidia.
(See episode for D.A. Davidson disclosures.)
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About Pitch The PM
Pitch The PM is the Professional Investor’s Podcast that provides a deep-dive into a stock’s investment case using the Variant View Investment Checklist. It is an open exploration of the research process in real time using high-conviction ideas from top PM’s and Analysts. Join the journey as Doug fills out his Buffett advised, 20-slot lifetime punch card. We learn and laugh together.
- A decade of market neutral equity investing at Citadel & Millennium.
- Studying the great investors like Buffett, Munger, Lynch & Greenblatt.
- The latest AI tools to improve idea velocity, accuracy and conviction.
About the Host
Doug Garber
Chief Investment Officer & Director of Research
Pitch The PM is hosted by Doug Garber, a former Citadel Analyst and Millennium Senior Portfolio Manager. Doug was initially trained at Citadel by a former SAC/Point 72 Analyst who worked directly for Steve Cohen before becoming a PM at Citadel. Doug was ranked as a top five analyst while at Citadel’s Surveyor Capital and was the only one to receive that designation twice during his tenure. He managed a multi-sector, multi-strategy team at Millennium under Katahdin Capital. Prior to his buy-side career, Doug worked in sell-side equity research honing modeling and primary research skills.Doug is currently the CIO and DoR at the Westport Alpha Group.
Doug graduated from Tulane University with a BSM and Master of Finance. He was selected to participate in the Darwin Fenner Student Managed Endowment Fund that utilized quantitative factors to outperform its benchmark and be an Investment Research Manager in the Burkenroad Reports “Stocks Under Rocks” equity research program. Doug has a passion for iterating on the investment process and a quirky sense of humor. He lives in Westport, CT with his wife, Lexi, and three kids. When he is not reading a 10-K, you can find him coaching youth soccer, inverted on his yoga mat or on an eFoil looking for Zuck.
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The Team
Spencer Gantsoudes, CFA
Managing Director
Stride CapitalMorgan Stanley
Harvard University
Alex Nuta
Senior Analyst
Ellington Management Group
Evercore/ISI
Columbia Business School
Myles Rosenstein
Research Associate
Commonfund
Tulane University
Daniel Vogelzang
Head of Partners and Marketing
Brand & Strategy Consultant
Skidmore College
Nathan Wheaton
Digital Marketing Associate
Winthrop University
London School of Economics
Subscriber Reviews
Portfolio Manager,
Fidelity Stock
Selector Large Cap
Team
“Love the detailed breakdown! Will be incorporating these steps and high grading the team’s research process for sure.”
Sr. Portfolio Manager, Millennium
Fundamental Equity Analyst, Citadel
“What a great listen!”
Founder & L/S PM (former Balyasny, Millennium, Verition)
“Really like the in-depth analysis of the business and financials. Love to see more videos of you with this format. This video really summarized pretty good what took me hours of reading of 10-Q’s. Thanks and keep up the good work.”
Value Investor, Europe