Investor's Picks Up 50% In 3 Months, Called TSLA Crash, Here Are His Next Buys | Emmanuel Lemelson

Summary

David Lin interviews Fr. Emmanuel Lemelson, CIO of Lemelson Capital Management, about market fraud, Tesla, his value-investing process, and updated stock picks. Lemelson remains bearish on Tesla, says markets are entering a golden age of fraud, and argues shorting is dangerous. He favors Centene after a Medicaid-driven selloff and Flower Foods as a defensive, cheap staple, while revisiting prior picks including Nike, Kohl's, and Big Five. The discussion emphasizes financial-statement analysis, intrinsic value, margin of safety, independent thinking, and caution toward narrative-driven stocks.

• Lemelson warns of rising fraud and a market cycle that will eventually stop.
• He remains negative on Tesla and critical of Elon Musk.
• Centene is his high-conviction new value pick after a sharp Medicaid-related selloff.
• Flower Foods is presented as a cheaper defensive staple-food pick.
• He revisits prior picks: Big Five was acquired, while Nike and Kohl's had strong quarterly returns.
• He outlines a value process based on financial statements, free cash flow, and margin of safety.
• He says short selling is structurally difficult and often a terrible business.
• The interview also covers politics, consumer weakness, inflation, and dollar devaluation.