Shomik Ghosh's $CWAN bull thesis

In this episode of the Yet Another Value Podcast, Andrew Walker interviews Shomik Ghosh about Clearwater Analytics (C-WAN). Shomik provides an overview of the company's history, its recent acquisitions, and its transformation into an end-to-end front-to-back office platform. The discussion covers Clearwater's competitive landscape, stickiness, growth potential, and the implications of private equity firms reducing their stakes. Shomik argues that the market is undervaluing C-WAN due to concerns about the integration of acquisitions, while he sees a compelling opportunity for growth and margin expansion, particularly with the application of AI and potential benefits from future rate cuts. He also touches on the company's data moat and potential for superior data analytics.