Wilfred (Wilf) Frost

speaker

2,338 appearances 15 recordings 1 series first heard May 2026 last heard 3 Aug

Wilfred (Wilf) Frost’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 15 in all, peaking in Jun 2026 with 6.

Appearances

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The Master Investor Podcast with Wilfred Frost · AI Could Turn Software Into “Dumb Data Pipes” | Dom Rizzo · 8 Jun 2026 podcast

But I guess you don't think that has contributed to the share price performance. voice-verified

I mean, you know, one of your four factors is obviously the price you're paying. voice-verified

Yeah. voice-verified

But I guess, I mean, it comes back to the fact that P is at four. voice-verified

That's mad. voice-verified

Which tells you what? voice-verified

That the CapEx boom's continuing? voice-verified

Yeah, I think so. voice-verified

Does it also tell you voice-verified

for a company that's bought back tons of shares that, I mean, look, you could argue they've been a good hedge fund. voice-verified

They bought back shares cheap and they're raising capital at an expensive price. voice-verified

But that's also not why we buy shares in them, right? voice-verified

I mean, because I guess the other point to pair that with, voice-verified

is their trend has been to buy back shares, not to issue shares. voice-verified

And their trend has been to fund either out of cash flow or out of debt. voice-verified

Does the fact that they have to turn to the equity markets warn something else, which is the debt markets are drying up or their cash flow is already stretched? voice-verified

One final question on the Google capital race. voice-verified

Step back with a perfect benefit of hindsight type world as the fund manager investing in tech companies for what tech companies do. voice-verified

Would it have been more ideal if all of these companies, before even issuing equity, which obviously is a decent trade, as we said, based on the prices, but they've all had to issue tons of debt. voice-verified

Should they all have not bought back stock for years voice-verified

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