QAV AU 841 — Activism, Audio & Agency: Gabriel Radzyminski on Fixing Value Traps

by Cameron Reilly | Oct 15, 2025 | Australia, Blog, Investing Podcast, Podcast Episodes

In this episode, Cameron and Tony sit down with activist investor Gabriel Radzymin­s­ki, founder of San­don Cap­i­tal, to dis­sect the art of activist val­ue invest­ing in Aus­tralia. Gabriel explains how he iden­ti­fies mis­priced assets, why val­ue invest­ing isn’t dead, and how activism can unlock val­ue when man­age­ment mis­align­ment or agency con­flicts keep com­pa­nies from real­is­ing their poten­tial. The dis­cus­sion zeroes in on the brew­ing storm around South­ern Cross Media (ASX:SXL) and its pro­posed merg­er with Sev­en West Media (ASX:SWM) — a deal Gabriel argues is a “nil-pre­mi­um reverse takeover” that dis­en­fran­chis­es share­hold­ers. The con­ver­sa­tion dives deep into gov­er­nance, board behav­iour, pas­sive invest­ing, and the moral haz­ards of Australia’s list­ing rules. Expect sharp insights on cap­i­tal allo­ca­tion, cor­po­rate incen­tives, and the eter­nal ten­sion between share­hold­ers and boards.