Dan Sundheim of D1 Capital on the art of public market investing

In this interview, Dan Sundheim, founder of D1 Capital, discusses his investment strategies in public and private markets. He emphasizes fundamental analysis, a long-term investment horizon, and understanding business models. Sundheim shares insights on risk management, position sizing, and the importance of multiple expansion. He also reflects on past investment mistakes, such as selling Netflix too early, and discusses the impact of the retail trading phenomenon on short selling. Additionally, Sundheim provides his views on the current state of the public markets, the potential of AI, and specific companies like Siemens Energy and SpaceX. He also touches upon D1's investment approach, hiring practices, and the challenges of managing a large fund.