Frmo Corp (FRMO) Q3 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone. This is Therese Byers speaking, and I'm the Corporate Secretary of FRMO Corp. Thank you for joining us today. The statements made on this call apply only as of today. The information on this call should not be construed to be a recommendation to purchase or sell any particular security or investment fund. The opinions referenced on this call are not intended to be a forecast of future events or a guarantee of future results. It should not be assumed that any of the security transactions referenced today have been or will prove to be profitable or that future investment decisions will be profitable or will equal or exceed the past performance of the investments. For additional information, you may visit the FRMO Corp website at frmocorp.com. Today's discussion will be led by Steven Bregman and Peter Doyle, co-chief executive officers. We're also joined by Jay Kesslin, general counsel, and David Arndt, chief financial officer. They will review key points related to the fiscal 2026 third quarter earnings. And now I'll turn the discussion over to Peter Doyle. Thank you, Therese. Good afternoon, everyone. So two weeks ago, I never dreamed that I would be kicking off this call and it's obviously with great sadness that that's the case. I'm going to give a little bit of background and tell you how I was introduced to Murray Stahl. I had the good fortune in my senior year of college of having a professor who was in the same graduate program as Warren Buffett at Columbia and they learned under Ben Graham. Ben Graham is considered to be the father of security analysis. He's a legend in the industry. And virtually anyone that's in finance has read his books. And essentially it was, you know, the professor would say, you know, trying to buy a dollar's worth of v...