With Ren off in Fiji, we've decided to re-release one of our favourite episodes. A conversation with expert investor Tobias Carlisle, an Australian deep value investor now based in the United States. Original show notes and links below. -------- Tobias Carlisle has taken an interesting path to get where he is today. Starting his career as a lawyer in Queensland, Tobias is now a world-renowned value investor based in California. He has achieved a lot of recognition in the value investing community for his books Quantitative Value (2012), Deep Value (2014) and Concentrated Investing (2016). We spoke to him about the release of his latest book The Acquirers Multiple that distills a lot of his key concepts into one easy-to-read book aimed at non-investors. In this interview you will learn: • The strategy Tobias uses that when backtested actually beats Warren Buffett and Joel Greenblatt's strategies • How Tobias made the change from a lawyer in Queensland to a value investor in California • Why deep value investing has stood the test of time • The idea of 'broken legs' and how Tobias eliminates them from his thinking • How the Australian market compares to the rest of the world Stocks and Resources Discussed: • Books (click links for more information) • The Acquirers Multiple - Tobias Carlisle • Deep Value - Tobias Carlisle • The Little Book that Beats the Market - Joel Greenblatt • The Snowball: Warren Buffett and the Business of Life - Alice Schroeder • What Works on Wall Street - James P. O'Shaughnessy • Security Analysis - Benjamin Graham & David L. Dodd • The Intelligent Investor - Benjamin Graham • Stocks Mentioned: • Sina Corporation (NASDAQ: SINA) • Wibo Corporation (NASDAQ: WB) • Snap Inc. (NYSE: SNAP) • Amazon.com Inc. (NASDAQ: AMZN) -------- Equity Mates Investing Podcast is a part of the Diamantina Media Network - the home of Australia's favourite podcasts. For more information, visit http://diamantina.com.au/

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With Ren having to duck off to Fiji last-minute, we didn't want to risk a dodgy internet feed from his beach-side bungalow. So we've dusted off an old, all-time classic episode that we thoroughly enjoyed. It's an interview with Meir Statman - an expert in behavioural finance. We can't talk about this stuff enough. Understanding how your emotions work in relation to markets, and how they can impact your decision making, is vitally important, and very hard to master. We hope that by revisiting this episode, it refreshes your thinking when it comes to identifying, and controlling, cognitive bias. Old episode notes below: The stock market can be an emotional place, and often investing decisions are made based on emotion, and sub-conscious thought, or cognitive bias, with returns not always ending well! Recognising and understanding how you think when you invest, and how to avoid emotional traps, is vitally important for long-term success. This episode we talk with Meir Statman - an expert in behavioural finance, and understanding how investors think. Meir Statman is the Glenn Klimek Professor of Finance at Santa Clara University. His research focuses on behavioral finance. He attempts to understand how investors and managers make financial decisions and how these decisions are reflected in financial markets. His most recent book is "Finance for Normal People: How Investors and Markets Behave." The questions he addresses in his research include: What are investors' wants and how can we help investors balance them? What are investors' cognitive and emotional shortcuts and how can we help them overcome cognitive and emotional errors? How are wants, shortcuts and errors reflected in choices of saving, spending, and portfolio construction? How are they reflected in asset pricing and market efficiency? In this episode you will learn: • The difference between a rose, a watch and a stock • The major cognitive bias that investors fall victim to, and how to avoid them to improve your investing • How to make sure you're not eaten by the lions of the market • What the 'greater fool' means, and how you can take advantage in your investing Equity Mates Investing Podcast is a part of the Diamantina Media Network - the home of Australia's favourite podcasts. For more information, visit http://diamantina.com.au/

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Warren Buffett is one of the greatest investors in the world, which is why listening to what he has to say can have an important influence on our investing journey, and learning process. However, over the years, Warren has had plenty of interviews, and opportunities to express his ideas about the market, and his ways of investing. Some of what he has to say has been turned into classic one-liners, such as "Rule #1: Don't lose money. Rule #2: Don't forget rule #2." These are thrown around so often that sometimes they can lose meaning. In this episode, we listen to 6 rules of investing from Warren, and then discuss what they practically mean for us as investors, and how we can incorporate them into our thinking and practice. The rules we explore: • Buy below intrinsic value • The importance of temperament • Study the business, not the stock price • Don't give into hype • Only buy what you understand • Don't over-complicate it! Stake now have Warren's company - Berkshire Hathaway - Class A shares available on their platform. They're giving away $1000 to new and existing members, to celebrate. If you want to buy a fraction of the $440,000 stock, and join the exclusive club, then head to https://hellostake.com/ and use the code 'EQUITYMATES' to let Stake know we sent you. Equity Mates Investing Podcast is a part of the Diamantina Media Network - the home of Australia's favourite podcasts. For more information, visit http://diamantina.com.au/

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Right back at the beginning of Equity Mates we started a 'Stock of the Week' segment and used it as an opportunity to start building a hypothetical portfolio. Now we know paper trading is nothing like the real thing, but the portfolio was designed to help us practice our research process, try new things, and share it with you all! In this episode, we take a trip down memory lane. Despite taking the portfolio offline, we've kept it running in the background to see how it would perform. A lot has happened in markets over the last 3 years, so we review each of the stocks that we put into the portfolio, why we did it, and take a look at where they are now. There are a few lessons to be learned...! Stocks discussed: • Gateway Lifestyle Group • PM Capital Global Opportunities Fund Ltd (ASX: PGF) • Australian Agricultural Company (ASX: AAC) • Afterpay Touch Group Ltd (ASX: APT) • Australian Equities Bear Hedge Fund (ASX: BEAR) • NASDAQ 100 ETF (ASX: NDQ) Equity Mates Investing Podcast is a part of the Diamantina Media Network - the home of Australia's favourite podcasts. For more information, visit http://diamantina.com.au/

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Home country bias (where you only buy stocks in your home market) is an important trap to avoid. Australian investors in particular need to break out of the ASX bubble. The opportunity set is just so much larger overseas (Australia represents ~2% of the global share market). So in this episode we set out to understand what stocks are being bought and sold in the world's largest share market - the USA. To help us with this, we were joined by the founder of Stake, Matt Leibowitz. Stake offers brokerage-free trading of US markets for Australians, which means he has great insight into what Australians are buying overseas. So we picked his brains on what stocks are hot in the US and broke down why. In this episode you will learn: • What we got wrong on leveraged ETF's in our last episode • How Matt stays on top of the volume of information out there about different companies • Matt's trading philosophy • About the obscure trucking company that over-65's are buying • The company that was the #1 most bought stock for the past month • Whether all the hype around Beyond Meat has led to Australians buying the stock • How Australians can access Berkshire Hathaway Class A shares If you are interested in signing up to Stake, head to https://hellostake.com/ and use the code 'EQUITYMATES' to let Stake know we sent you. Equity Mates Investing Podcast is a part of the Diamantina Media Network - the home of Australia's favourite podcasts. For more information, visit http://diamantina.com.au/

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One of the biggest takeaways from our Sydney live show was the potential of investing with leverage. In a night where there was some healthy disagreement amongst the panel (in particular on investing v trading, and on short-selling) there was general agreement that leverage can be a useful tool for young people investing with a long time horizon. Leverage is simply the act of investing with someone else's money. It increases risk, but it also increases potential returns. The best example of investing with leverage, that most people are familiar with, is a mortgage. When buying a house you put down a deposit and then use the bank's money for the rest of the purchase. Using leverage in the share market follows the same principle. In this episode you will learn: • What leverage means in an investing context • The benefits of investing with leverage • The risks of leverage • Two different types of leverage - internal and external • Levered ETF's - what are they, and why isn't Ren a big fan • How you can invest with the bank's money and the risks and benefits Equity Mates Investing Podcast is a part of the Diamantina Media Network - the home of Australia's favourite podcasts. For more information, visit http://diamantina.com.au/

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The last episode of the month, means once again we open up our mailbag and answer your questions! In this episode we answer questions on: • Ethical investing apps • Investing on crowdfunding platforms • NZ Index Funds & ETFs • Dollar cost averaging v Investing all at once • Value investing & Warren Buffett • Investing in Australian banks • Stock screeners & backtesting tools • Accessing the bond market As always if you asked a question and we didn't get around to it - head over to our Facebook Discussion Group - https://www.facebook.com/groups/equitymates/ - there is a whole community of Equity Mates that will be able to answer your question there. Equity Mates Investing Podcast is a part of the Diamantina Media Network - the home of Australia's favourite podcasts. For more information, visit http://diamantina.com.au/

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Short selling is the act of betting on the price of an asset to go down. It is very topical in Australia at the moment, with the controversy over short-seller J Capital Research releasing a report about software-company WiseTech Global (ASX: WTC). WiseTech is a market darling in Australia, up over 100% year-to-date, but fell 25% after J Capital released their report. Given short-selling is topical at the moment, we thought it was the perfect time to break down what short-selling is, how it is done and everything else you need to know. We finish off with some of our favourite short-selling stories, and may have started a feud with another investing podcast during the episode. In this episode you will learn: • The story behind WiseTech Global's recent price fall • What short selling is and how you make money • The two main ways short-selling is done • The key risks you need to understand • Our favourite stories about fraudulent companies and the investors that discovered them We had a great live show in Melbourne last week. If you are yet to register for our Sydney show with Finimize - make sure you get onto it ASAP • Sydney - Tuesday 29th October @ 6pm: https://generalassemb.ly/education/finimizecommunity-presents-what-to-make-of-markets-in-2019/sydney/87839 Equity Mates Investing Podcast is a part of the Diamantina Media Network - the home of Australia's favourite podcasts. For more information, visit http://diamantina.com.au/

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You've heard it before - 'knowledge is power' - and when it comes to investing, improving your knowledge can be achieved by reading, and reading, and reading. Almost every expert investor we have interviewed has said the best thing you can do to improve your performance is to read and read widely.We've previously spoken about the traditional places we go to find information - books, the major newspapers and financial websites, fund manager letters & reports. The list goes on.However, there is another rich source of information out there that we tap into, and it's worth discussing.Crowdsourcing and forums provide a huge amount of information and ideas, from people all over the world.In this episode, we walk through some of the major forums and pools of crowdsourced-ideas that we use along our journey.If you are yet to register for our free live shows with Finimize - make sure you get onto it ASAP • Sydney - Tuesday 29th October @ 6pm • We're really excited for this event, and to meet more of our Equity Mates community. Can't wait to see you there!Equity Mates Investing Podcast is a part of the Diamantina Media Network - the home of Australia's favourite podcasts. For more information, visit http://diamantina.com.au/

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