TIP767: MASTERMIND DISCUSSION Q4 2025: SANOFI, REMITLY & CROCS

W/ STIG BRODERSEN, TOBIAS CARLISLE, AND HARI RAMACHANDRA

TIP767: MASTERMIND DISCUSSION Q4 2025: SANOFI, REMITLY & CROCS W/ STIG BRODERSEN, TOBIAS CARLISLE, AND HARI RAMACHANDRA

08 November 2025

In today’s episode, Stig Brodersen is joined by Tobias Carlisle and Hari Ramachandra for another round of stock pitches. Hari makes the case for Sanofi, highlighting the company’s long-term potential in vaccines and immunology. Stig turns his attention to Remitly, a fast-growing digital remittance platform transforming how money moves across borders. And Tobias dives into Crocs, exploring how a once-controversial footwear brand has evolved into a global success story at an attractive valuation.

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IN THIS EPISODE, YOU’LL LEARN:

  • Why Hari is bullish on Sanofi’s strong vaccine and immunology pipeline (Ticker: NYSE: SNY)
  • The bear case for Sanofi, including patent cliffs
  • Why Stig is bullish on Remitly, highlighting operational leverage and a secular shift in digital payments and remittances (Ticker: NASDAQ: RELY)
  • The bear case for Remitly, including pursuing the wrong strategy and excessive stock-based compensation
  • Why Toby is bullish on Crocs, focusing on valuation and global growth (Ticker: NASDAQ: CROX)
  • The bear case for Crocs, including tariffs and changing fashion trends
  • Which live events we have planned for our Mastermind Community in 2026 — and how you can join

TRANSCRIPT

Disclaimer: The transcript that follows has been generated using artificial intelligence. We strive to be as accurate as possible, but minor errors and slightly off timestamps may be present due to platform differences.

[00:00:03] Stig Brodersen: In today’s mastermind discussion. We’re diving into three different businesses, each with its own story and set of opportunities. Hari will be pitching Sanofi, a global pharmaceutical leader with a promising pipeline and vaccines and immunology. I’ll be sharing my thoughts on Remitly.

[00:00:18] Stig Brodersen: A fast growing digital remittance company helping millions of people send money across borders more efficiently. And Toby’s Pick is Crocs. The football brand has gone from fashion punchline to Global Powerhouse, yet still appears quite cheap. This mastermind format is all about testing our ideas, asking the hard questions, and exploring where we might be wrong.

[00:00:41] Stig Brodersen: Over the years, I found it not only makes me a better investor, but also keeps me grounded and curious, and I hope it does the same for you. Towards the end of the episode, my co-host Clay and I will also talk about what’s next for our mastermind community, including our plans for live events in Omaha and New York City, and how you can join us.

[00:01:03] Intro: Since 2014 and through more than 180 million downloads, we’ve studied the financial markets and read the books that influenced self-made billionaires the most. We keep you informed and prepared for the unexpected. Now for your host, Stig Brodersen.

[00:01:28] Stig Brodersen: Welcome to The Investor’s Podcast. I’m your host, Stig Brodersen, and today I’m here with Hari and Toby. Gents, how are you today?

[00:01:37] Tobias Carlisle: What’s up, Stig? Good to see you again. Hey, Hari, how are you?

[00:01:39] Hari Ramachandra: Hey, what’s up, Toby and Stig? Good to see you.

[00:01:42] Stig Brodersen: Fantastic. And let’s just jump right into the first pick. Hari, we talked about it just before we hit record and you volunteer, so let me throw it back over to you. What is your pick?

[00:01:54] Hari Ramachandra: Thank you Stig and no pressure going first, but I’ve been looking into stocks that are undervalued and it’s not easy in this current market. But today I have another pharmaceutical pick, Sanofi. It’s a global biopharma focused on immunology and vaccines. It’s based in Europe, France, and it’s well known across the globe.

[00:02:26] Hari Ramachandra: And I think of this company having two engines. The first one is their anti-inflammatory blockbuster drug, Dupixent, which has got approval across multiple indications, including COPD. And has a decade long runway to go before patent expires. And the second engineer is their vaccines. Of course, I’m simplifying it.

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