EP 027: Compounder Guru Sean Emory on why Block, $XYZ, is Far From Done

In this episode of Pitch The PM, Doug Garber sits down with Sean Emory, founder of Avory & Co., an investment firm focused on high-conviction, fundamentals-driven investing. Sean recently launched the Avory ETF ($AVRY), bringing his firm’s research-driven stock-picking approach to public investors.Sean outlines his “6 M” investment process that has allowed him to compound at nearly 20% for the last decade with low turnover for FO’s, UHNW, and RIA’s.Doug and Sean discuss why XYZ is one his largest weightings. • Cash App growth and monetization trends• Square’s re-acceleration in merchant volumes• The reality behind the software job cuts, the impact of AI vs over hiring• The role of credit products like Cash App Borrow• Competitive dynamics in fintech and digital payments• Risks, including macro conditions and credit cycles📩 Want to know if Doug bought the pitch?Subscribe to the Pitch the PM newsletter to get the deeper investment framework, key metrics investors should track, and Doug’s structured checklist for evaluating the idea.https://pitchthepm.substack.com/A special thank you to our sponsors Carbon Arc (carbonarc.co) and InSync Analytics Corp. (istari.insyncanalytics.com)🎧 Listen on Spotify: https://open.spotify.com/show/4UHbkYE2OJwfhY2MZqGG5Y?si=cb521c1e758246a1Listen on Apple Podcasts: https://podcasts.apple.com/us/podcast/pitch-the-pm/id1797669466💡 Presented by AlphaSenseFree trial access: https://www.alpha-sense.com/Pitch/This episode is for informational purposes only and does not constitute investment advice. See full disclosures at: https://www.pitchthepm.com/disclaimer