14. Dominick D'Angelo on TopGolf Callaway (MODG)

During this episode of SSOI podcast, I spoke with DominickD'Angelo, Head of Research, of O’Keefe Stevens Advisory. Dominick shared his TopGolf Callaway (MODG) investmentcase.Here’s what we discussed:1:55 Dom shares his background4:35 O’Keefe Stevens Advisory’sapproach to managing client assets6:35 How O’Keefe Stevens Advisory constructsclient portfolios8:15 Topgolf Callaway high leveloverview15:30 Why the partial sale ofTopgolf will unlock value20:10 Expected capital returnafter Topgolf sale closes23:25 Overview of CallowayRemainCo26:20 Growing interest in golfshould be a tailwind for Calloway RemainCo30:15 Dom shares his fair valueestimate for Calloway RemainCo36:35 How Dom gets to over $1/shareof earnings for RemainCo in 202740:35 The biggest risks to MODG43:35 Why Dom is comfortable thatmanagement won’t make another bad acquisition46:15 Two potential positive righttail events 48:15 How to get in touch with Domand learn about O’Keefe Stevens AdvisoryDuring this episode of SSOI podcast, I spoke with DominickD'Angelo, Head of Research, of O’KeefeStevens Advisory. Dominick shared his TopGolf Callaway (MODG) investmentcase.