Podcast Notes Playlist: Business

On episode 90 of The Compound and Friends, Michael Batnick and Downtown Josh Brown are joined by Brian Shannon to discuss Volume-Weighted Average Price (VWAP), trading strategies, technical analysis, tech earnings, and much more!

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Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Josh Brown are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management.

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• Check out Infinite Loops Podcast Episode Page & Show Notes

Alex Danco returns for his seventh (yes, SEVENTH) appearance on Infinite Loops to discuss, as usual, pretty much everything other than the topics we had prepared in advance.

This week, we discuss: The two types of lawyers, what Alex learned from reading Don Quixote, Elon the Reply Guy, the psychology of Seinfeld, the best Wall Street Movies, and much more.

Important Links:

• Twitter: https://twitter.com/Alex_Danco
• Website: https://alexdanco.com/
• Newsletter: https://danco.substack.com/

Show Notes:

• The two kinds of lawyers
• Medicine, placebo, Don Quixote & theatre
• Heroes, villains & main characters
• Elon the Reply Guy
• Safe words, scams & narrative collapse
• Self-deception is multiplayer
• The psychology of Seinfeld
• To what extent are great innovations already baked into the systems?
• Margin Call: The two schools of thought
• The best Wall Street movies
• MUCH more!

Books Mentioned:

• The Theory And Practice Of Gamesmanship Or The Art Of Winning Games Without Actually Cheating; by Stephen Potter
• Don Quixote; by Miguel de Cervantes
• The Fifth Science; by Exurb1a
• The Status Game: On Human Life and How to Play It; by Will Storr
• The Lucifer Principle: A Scientific Expedition into the Forces of History; by Howard K. Bloom
• Games People Play: The Psychology of Human Relationships; by Eric Berne
• Mendel's Dwarf; by Simon Mawer
• The Big Short: Inside the Doomsday Machine; by Michael Lewis
• The Bonfire of the Vanities; by Tom Wolfe
• The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron; by Peter Elkind & Bethany McLean

• Be the same person at work as you are at home 
• Earned success is the key to happiness
• Understand that reality hits you at every moment and that there are costs to not embracing it
• Understand what it is you are actually betting on when you make an investment 
• Write about the topics that you actually care about; do not write about what you think someone else will think is interesting 
• “It’s easier to hold your principles 100 percent of the time than it is to hold them 98 percent of the time.” – Dr. Clayton Christensen
• Leaders often spend more time worrying about the 95% of people delivering 10% of the value compared to worrying about the 5% of people that deliver 90% of the value
• Your role as a leader might be to find a handful of people that will change the trajectory of a company 
• “The main thing is keeping the main thing the main thing.” – Jim Barksdale
• Good decision-makers do not confuse activity with insight 
• You can bounce back from any mistake other than a mistake of integrity 
• “I think all you can really do as a leader of a company is have people believe that the decisions you’re making are always in the best interest of the company.” – Ravi Gupta 

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• Capital providers are waiting for interest rates to stabilize prior to coming back into the real estate market
• Despite how it may seem on Twitter, it is actually really hard to make money in the real estate business
• Class A storage is branded as “nice storage” but it requires renting a truck, moving your stuff with a dollie, putting it on an elevator, etc. 
• As interest rates rise, the people with the capital can now park it in treasury bills and earn 4-5% “risk-free” instead of allocating to real estate ventures 
• The risk-free rate is no longer 0% like it was for much of the last several years
• Many real estate investors, accountants, and CPAs are not aware of cost segregation
• Any real estate that people have bought after September 2017 can still be cost-segregated, or “cost-segged” by filing a Form 3115 
• Cost segregation is effectively borrowing money from the IRS and works best when you plan to hold the property for several years 
• You get a look into someone’s brain when you follow them on Twitter
• Sharing what you know on Twitter can pull forward your career trajectory by twenty years 
• Twitter is a modern-day business tool to build trust and friendships at scale
• The ability to simplify complex topics and share that with the world is a superpower 

Today’s episode is a repost from The Fort podcast by Chris Powers that originally aired on February 16th, 2023. I sit down with Chris and my business partner Mitchell Baldridge to discuss the current real estate market, how Twitter changed our lives, and Mitchell and I’s new business RE Cost Seg.

Chris is a mentor of mine and I highly recommend listening to his podcast, The Fort. https://www.thefortpod.com

If you want to learn more about RE Cost Seg, please click here. https://www.recostseg.com

Thank you and I hope you enjoy the conversation.

FREE PDF - How to analyze a property and know what it's worth: https://sweatystartup.ck.page/79046c9b03

Check my free resources about Real Estate: https://sweatystartup.com/courses/

Check out my free Delegation / Hiring 101 course!
Click here: https://nickhuber.podia.com/delegation-hiring-101

We're hiring! Visit:
https://sweatystartup.com/hiring

Check my free resources about Real Estate: https://sweatystartup.com/courses/

Read the full show notes here: https://sweatystartup.com/series/the-nick-huber-show/

Join my Real Estate community here: https://sweatystartup.com/rec

Special thanks to the sponsors:
• https://junipersquare.com
• https://recostseg.com/

Twitter Growth Mastery Course: https://sweatystartup.com/twitter

Want to hire me as a consultant? Click here: https://sweatystartup.com/storage

Have some questions? Send me an email and I'll feature you in the next episode: [email protected]