Kyle Grieve and Shawn O’Malley analyze OTC Markets Group, a hidden infrastructure company that collects tolls on over 12,000 securities while operating with fewer than 130 employees. What you’ll learn here: 00:00:00 - Intro 00:00:42 - Why OTC Markets operates as a hidden monopoly, most investors have never heard of 00:02:25 - The three business segments generating recurring revenue from market infrastructure 00:08:26 - How OTCM's pricing power compares to other monopolistic businesses 00:14:10 - Why 130 employees can manage the infrastructure for over 12,000 securities 00:18:58 - What keeps customers so loyal 00:24:28 - How regulatory relationships create barriers to entry 00:47:49 - The surprising reason declining subscriber counts might not be concerning 00:52:23 - The exceptional unit economics that make Corporate Services so profitable 00:55:53 - Why management's capital allocation approach is so different from that of typical CEOs 01:13:28 - Valuation discussion of OTCM 01:15:38 - Intrinsic value of OTCM 01:16:37 - Whether this hidden infrastructure gem deserves a spot in your portfolio Transcript & Host Info: https://www.theinvestorspodcast.com/intrinsic-value-podcast/ 📨 Sign up for The Intrinsic Value Newsletter: https://www.theinvestorspodcast.com/subscribe-youtube/ 🤝 Join us in Omaha this May 1, 2026 for The Intrinsic Value Conference during Berkshire Hathaway weekend. The event is free to attend, with a social hour and live stock pitch presentation. Intrinsic Value Community members receive VIP reserved spots and a private dinner after the shareholder meeting. Learn more: https://www.intrinsicvalueconference.com Be a member: https://www.theinvestorspodcast.com/intrinsicvaluecommunity ▶️ Related Episodes - Buffett's Internet Toll Road Bet: VeriSign: https://youtu.be/jjskjpsk-SY - Chapters Group: Billionaires bet on this potential 100-Bagger: https://youtu.be/24Fr71kKeew - Portfolio Review: Thoughts on Airbnb, Reddit, FICO, and co.: https://youtu.be/O-CuASAQmXE Listen to our episodes here: https://open.spotify.com/show/7dnn22EWyo6MLsPaR492BM Visit our website: https://www.theinvestorspodcast.com/intrinsic-value-podcast/ Free PDF: Investing for Beginners: 4 Principles of Stock-Picking: https://www.theinvestorspodcast.com/subscribe-youtube/ ⚠️ Disclaimer: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting. #OTCMarkets #HiddenCompounders #ValueInvesting #StockMarketAnalysis #MonopolyBusiness