The Investing for Beginners Podcast - Your Path to Financial Freedom

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In this episode, Andrew sits down with Samit Umatiya, Managing Partner at UIG, to talk about how he went from day trading to running a value-oriented investment fund.

They dig into what “value” actually means in practice, how Samit thinks about free cash flow, and why qualitative factors like management alignment matter just as much as the numbers. The conversation also covers biases like sunk cost fallacy, how to fight FOMO, and what Samit looks for when deciding whether a stock is truly worth buying.

Key Topics Covered:

Samit’s shift from day trading to value investing

What “value” means

Free cash flow

Qualitative analysis

Biases and discipline: sunk cost fallacy, FOMO, conviction, and buying right

Timestamps:

01:21 – How Samit got started

04:06 – “Less activity, better returns”: compounding and long-term mindset shift

05:00 – What “value” means (subjective)

11:16 – Avoiding Wall Street noise

13:09 – VEON thesis

15:37 – Valuation = quantitative + qualitative

18:32 – How to start reading statements

20:04 – Management alignment: track record, equity ownership, background, incentives

24:02 – Sunk cost fallacy

33:01 – Why under $2B market cap can be a sweet spot

34:31 – Why he avoids MAG7/AI hype

39:07 – Fighting FOMO

42:22 – Is WSJ/Bloomberg worth it? Quality journalism as an investment

45:39 – “If it isn’t really obvious, don’t buy it”

46:58 – Buy point matters most; sell can be imperfect if you bought right

Resources Mentioned:

The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/

Follow Samit Umatiya on LinkedIn: linkedin.com/in/samitumatiya

UIG (Umatiya Investment Group)

 https://www.linkedin.com/company/uig-funds/

Have questions or want your story featured? Email the show at [email protected] or comment below. Your feedback shapes the podcast!

Remember, invest with a margin of safety—emphasis on the safety. Have a great week, and we’ll talk to you next time.

Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.

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In this episode of At Any Rate, Evan Raidt and Dave Ahern break down the basics of wills—what they are, why they matter, and how they can save your loved ones months of stress if something unexpected happens. Dave shares why he set up his will after a health scare, plus a real story from his banking days that shows how messy things can get when someone passes without a plan.

They also walk through practical options for creating a will, why you should keep beneficiaries updated on your accounts, and how to store and share your documents so your family can actually find them when it counts.

Topics Covered:

What a will actually does

The real-world mess that happens when someone dies without a will

How to get a will

Storage & access

The 3 tiers

Timestamps:

00:00 Why this “boring” topic matters

01:45 Why Dave got a will (health scare)

02:33 What a will is & what it covers

04:41 Why wills prevent confusion and family conflict

06:40 Real story

09:05 Why this is about protecting your loved ones (not you)

11:15 Leaving money to a charity

12:50 Where to get a will: DIY, attorney, or LegalZoom

15:35 The “bare minimum” step

17:55 What banks may require

20:40 How to store your will safely 

24:30 The 3 tiers explained

Resources Mentioned

Free monthly budgeting spreadsheet: https://einvestingforbeginners.com/budget/

Have questions or want your story featured? Email the show at [email protected] or comment below. Your feedback shapes the podcast!

Remember, financial freedom is built one smart move at a time. Keep it simple, keep it steady, and at any rate, we’ll see you next time.

Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.

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In this first episode of 2026, Dave and Andrew revisit The Intelligent Investor by Benjamin Graham and explain why it’s still worth your time—even if some parts feel dated. They break down the timeless principles Buffett has praised for decades, especially the ideas that help you stay rational when the market (and your emotions) get loud.

They also get practical: what “investing vs. speculating” actually means, how to learn a business if you’re serious about picking stocks, and why inflation quietly erodes your buying power.

Key Topics Covered:

Why The Intelligent Investor still matters (and why Buffett points to Chapters 8 and 20)

Investing vs. speculating

How to learn a business (10-Ks + Investor Relations) and why reading matters

Inflation: how it erodes buying power and affects investors and businesses

Mr. Market & margin of safety:

Timestamps:

00:33 – Why The Intelligent Investor is still timeless

01:38 – Why it’s a “foundation book” for mindset and emotional control

02:32 – Investing vs. speculating

03:48 – Analysis/business = investing; price movement = speculating

06:21 – How to learn a business

08:12 – Investor Relations pages

08:41 – If you don’t like reading

09:22 – Index funds/ETFs as a legit alternative

11:35 – Inflation basics

14:15 – Risk/return ladder

16:11 – Inflation’s “double-edged sword” for businesses (revenue vs margins)

19:01 – Pricing power example

21:36 – Declines are normal and volatility is part of the game

25:33 – Mr. Market explained

33:34 – Margin of safety

Resources Mentioned:

The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/

Have questions or want your story featured? Email the show at [email protected] or comment below. Your feedback shapes the podcast!

Remember, invest with a margin of safety—emphasis on the safety. Have a great week, and we’ll talk to you next time.

Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.

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In this episode, Dave and Andrew run through a 2025 stock market year-in-review, using the “Spotify Wrapped” idea as the framing device. They cover how the major indexes performed, why the year felt weird depending on where you were invested, and how the AI boom shaped returns across the market.

They also dig into the investing psychology behind FOMO, chasing winners, and dealing with volatility—especially when the broader market is up but your portfolio (or specific holdings) might be down big. 

Key Topics Covered:

2025 market returns (S&P 500, NASDAQ, Dow) and what they imply going forward

The AI boom, NVIDIA’s dominance, and the “you might be early” lesson from the dot-com era

Sector winners and why energy/infrastructure matters for AI

FOMO, chasing top performers, and how to approach cyclical industries

Volatility, expectations, and what to do when a stock is down big

Timestamps:

00:19 – Intro: 2025 stock market year in review

01:07 – Index performance

02:48 – The big themes of 2025: AI boom + profitability questions

04:18 – Should you buy NVIDIA now?

07:35 – Getting AI exposure without owning NVIDIA

11:57 – Sector winners

14:11 – Stocks that doubled

19:16 – How to handle cyclicals

21:20 – Normalizing margins to value cyclical businesses

24:10 – Volatility “panic attacks” and why zooming out matters

29:27 – What to do when a stock is down big: fundamentals first

38:30 – Podcast Spotify Wrapped: 3M minutes listened

41:29 – Wrap-up: see you in 2026

Resources Mentioned:

The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/

Have questions or want your story featured? Email the show at [email protected] or comment below. Your feedback shapes the podcast!

Remember, invest with a margin of safety—emphasis on the safety. Have a great week, and we’ll talk to you next time.

Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.

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⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠SUBSCRIBE TO THE SHOW ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Apple⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Spotify⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Amazon⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tunein

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You can download Evan’s free monthly budgeting spreadsheet here: https://einvestingforbeginners.com/budget/

In this episode of At Any Rate, Evan Raidt is joined by Andrew Sather to talk about something most investors don’t realize is shaping their decisions: the market environment you “grew up” in. Andrew shares what it was like starting to invest in 2012 in the shadow of the Great Financial Crisis—when fear was high, bonds were still considered “prudent,” and energy stocks dominated the conversation.

Together, they break down the pros and cons of starting in an up market, down market, or flat market, how recency bias and herd mentality mess with your judgment, and why the best antidote is simple: more education, consistency, and automation.

Topics Covered:

How your “starting market” imprints your investing mindset (up, down, or flat)

Andrew’s 2012 investing experience vs. Evan’s late-2021 experience

Recency bias, herd mentality, and why fear/greed can flip your decisions

Practical ways to stay grounded: education, consistency, and automation

Avoiding “next big thing” FOMO (AI hype, NVIDIA chasing, Buffett comparisons)

Timestamps:

00:00 Why your investing “timeline” matters

01:03 Andrew’s first stock purchase

02:35 Post-GFC mindset

04:30 2012 market vibe

05:30 Why Andrew stayed frugal but kept investing

07:05 Evan’s late-2021 start

08:35 “This is easy” mindset—and the warning from a mentor

10:25 The moment it flipped

13:45 Three market “start” scenarios

16:05 Down-market cons

18:30 Greedy vs. fearful

24:50 Practical takeaways

29:15 Andrew’s advice for new investors today

33:00 Closing

Resources Mentioned:

Free monthly budgeting spreadsheet: https://einvestingforbeginners.com/budget/

Email the team: [email protected]

Email Evan: [email protected]

Have questions for Evan or Andrew about getting started (or staying consistent no matter what the market’s doing)? Comment below or email Evan—he’d love to hear from you.

Remember, financial freedom is built one smart move at a time. Keep it simple, keep it steady, and at any rate, we’ll see you next time.

Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Today’s show is sponsored by:

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Download the⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠Plynk app⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ today to start building your investing confidence: ⁠⁠⁠⁠https://plynkinvest.app.link/IFB⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

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⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠SUBSCRIBE TO THE SHOW ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Apple⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Spotify⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Amazon⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tunein

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Want to go deeper on real companies with simple, long-term investing guidance? Subscribe to the Value Spotlight Newsletter, where Dave and Andrew share stock ideas, valuations, and lessons from real businesses straight to your inbox.

In this episode of Financials Demystified, Andrew and Dave continue working down the balance sheet by breaking down current liabilities—what they are, why they matter, and what they can reveal about how a business funds operations in the short term.

They also connect current liabilities to working capital management, showing how things like accounts payable and deferred revenue can impact cash flow and business quality. To make it practical, they use examples like Campbell’s, Adobe, GameStop, and Netflix—highlighting how the same “category” can look totally different depending on the business model.

Key Topics Covered:

What current liabilities are

Accounts payable and what it reveals about working capital and cash flow

Common current liability line items

Deferred revenue (why it’s a “liability” that can actually be a positive)

Days payable outstanding & the working capital cycle

Timestamps:

00:00:15 – Financials Demystified continues

00:00:48 – Definition: current liabilities

00:01:38 – What current liabilities can reveal 

00:04:39 – Example: Short-term borrowings, dividends payable, taxes payable

00:08:13 – Deferred revenue: what it is and why it’s not like “real” debt

00:11:28 – Netflix deferred revenue “weird tidbit” 

00:13:32 – Income taxes payable

00:17:20 – DPO formula

00:20:24 – Working capital cycle formula 

00:35:46 – Wrap-up

Resources Mentioned:

The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/

Blog post: https://einvestingforbeginners.com/free-cash-flow-yield-daah/

Infographic: https://www.linkedin.com/feed/update/urn:li:activity:7406343606875140096?utm_source=share&utm_medium=member_desktop&rcm=ACoAAD4eKMMBf-41eiJkuqE7j8nT8vhR0cxiYKE

Have questions or want your story featured? Email the show at [email protected] or comment below. Your feedback shapes the podcast!

Remember, invest with a margin of safety—emphasis on the safety. Have a great week, and we’ll talk to you next time.

Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.

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In this Christmas Day episode, Dave and Andrew play a fun “Santa wishlist” game: what stocks (and even a couple private companies) would they love to see under the tree—if the price was right. These are high-quality businesses they admire, but most are too expensive at today’s valuations, so they’re watching and waiting.

They run through a mix of consumer brands, software, finance/data businesses, industrial compounders, and a few “wish it were public” names. Along the way, they talk through what makes each company attractive (growth, margins, moats, culture, capital allocation) and what would need to change for them to buy.

Key Topics Covered:

“Santa wishlist” investing: great companies, wrong price (for now)

Growth vs. valuation: waiting for quality to become “buyable”

Moats and execution: why some businesses keep winning

Capital-light compounders: margins, cash flow, and pricing power

Private-company dream picks + what an IPO could mean

Timestamps:

00:00 – Stocks Santa should bring us”

03:08 – MercadoLibre (LATAM leader, 30%+ growth, pricey)

06:29 – Wingstop (franchise scale story, valuation still rich)

09:31 – Intuit (QuickBooks, elite margins, always expensive)

11:28 – Cadence (semiconductor design software “industry standard”)

16:05 – Fastenal (steady industrial compounder, valuation stays high)

18:45 – FICO (credit score moat + regulatory/competition risk)

30:04 – Old Dominion Freight Line (LTL leader, cyclical but elite)

39:11 –Reddit (attention + monetization potential, “lottery ticket”)

46:07 – Wrap-up

Have questions or want your story featured? Email the show at [email protected] or comment below. Your feedback shapes the podcast!

Remember, invest with a margin of safety—emphasis on the safety. Have a great week, and we’ll talk to you next time.

Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.

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⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠SUBSCRIBE TO THE SHOW ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Apple⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Spotify⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Amazon⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tunein

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You can download Evan’s free monthly budgeting spreadsheet here: https://einvestingforbeginners.com/budget/

In this episode of At Any Rate, Evan Raidt walks through the exact system he uses to track his personal financial progress—without obsessing over every transaction or living on extreme “never spend money” rules. Over the past few years, Evan has nearly quadrupled his net worth using boring (but powerful) fundamentals: consistent saving, simple investing accounts, and heavy automation.

Evan breaks down his monthly financial check-ins, how he reviews whether he actually stuck to his budget, and how he tracks net worth over time using a simple spreadsheet. He also explains what he includes in net worth (including the controversial stuff like car value and home equity), why tracking trends matters more than a single number, and how a quick monthly update can help you catch problems early and stay motivated.

Topics Covered:

Why tracking financial progress is motivating

Monthly financial check-ins

Evan’s automation-first approach

Building a simple net worth tracker

Why Evan includes car value & home equity in net worth

Timestamps:

00:00 Intro

01:30 Evan’s results & why “boring” fundamentals work

02:30 Free budget sheet: https://einvestingforbeginners.com/budget/

04:55 Why tracking progress matters

09:40 The two-part system

12:35 Monthly budget check-in

14:10 Automation approach 

15:10 Setting up a net worth spreadsheet

18:20 Including car value & home equity (and why Evan does it)

20:40 Tracking debt as negative values

24:00 Graphing net worth over time 

27:05 Closing

Resources Mentioned:

Free monthly budgeting spreadsheet: https://einvestingforbeginners.com/budget/

Email Evan: [email protected]

Have feedback on the solo episodes (good or bad) or want Evan to share a simpler version of his net worth tracker? Comment below or email him—he’d love to hear from you.

Remember, financial freedom is built one smart move at a time. Keep it simple, keep it steady, and at any rate, we’ll see you next time.

Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.

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⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠SUBSCRIBE TO THE SHOW ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Apple⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Spotify⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Amazon⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tunein

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Want to go deeper on real companies with simple, long-term investing guidance? Subscribe to the Value Spotlight Newsletter, where Dave and Andrew share stock ideas, valuations, and lessons from real businesses straight to your inbox.

In this episode, Dave and Andrew welcome Tobias Carlisle—Principal and CIO at Acquirers Funds and co-host of the Value After Hours podcast—to discuss his book The Soldier of Fortune: Warren Buffett, Sun Tzu, and the Ancient Art of Risk Taking.

The conversation centers on one big theme: avoiding ruin. Tobias explains why “survive first” is the foundation of long-term compounding, how Buffett’s discipline shows up in what he doesn’t do, and why frameworks, selectivity, and understanding conditions matter as much as valuation math.

Key Topics Covered:

Who Sun Tzu was (and why the text stands on its own)

Defensive investing first: debt, fragile business models, and position sizing

Wu-wei / effortless success and investing with tailwinds vs. headwinds

Moral law, reputation, and why honesty matters in management

Via negativa / inversion: avoiding dumb mistakes vs. trying to be brilliant

Timestamps:

00:00 – Intro

01:16 – Who Sun Tzu was

05:18 – Why The Art of War clicked in 2020

06:11 – Ergodicity: why avoiding ruin matters more than “winning”

12:41 – Seasons, cycles, and tailwinds

15:11 – Buffett’s discipline in COVID

21:21 – Munger’s influence

29:48 – Derivatives as “weapons of mass destruction”

32:15 – What Buffett doesn’t do

35:02 – Avoiding bad actors

38:15 – “Don’t go where you’ll die”

40:10 – Codifying management analysis

41:48 – Why small/value matters

46:12 – ZIG and DEEP

47:05 – Sign-off

Resources Mentioned:

The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/

Acquirers Podcast (Spotify): https://open.spotify.com/show/4XKvjmFiZLxWZ58vBfT4v9?si=81f548cf76d94325

The Soldier of Fortune (book): https://a.co/d/ib7E08v

Acquirers Funds: https://acquirersfund.com/

Have questions or want your story featured? Email the show at [email protected] or comment below. Your feedback shapes the podcast!

Remember, invest with a margin of safety—emphasis on the safety. Have a great week, and we’ll talk to you next time.

Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.

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Want to go deeper on real companies with simple, long-term investing guidance? Subscribe to the Value Spotlight Newsletter, where Dave and Andrew share stock ideas, valuations, and lessons from real businesses straight to your inbox.

In this episode, Dave and Andrew share a practical “back to basics” starter guide for new investors—focusing on the foundational decisions that matter before you ever pick a stock.

They also cover the big beginner considerations—time horizon, risk tolerance, and fees—plus the most common starting paths like ETFs/index funds, 401(k)s (especially if there’s a match), robo-advisors, and eventually individual stocks. The throughline is simple: start small, stay consistent, and don’t interrupt compounding.

Key Topics Covered:

Timestamps:

00:00 – Intro

Resources Mentioned:

Have questions or want your story featured? Email the show at [email protected] or comment below. Your feedback shapes the podcast!

Remember, invest with a margin of safety—emphasis on the safety. Have a great week, and we’ll talk to you next time.

Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Today’s show is sponsored by:

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Download the⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠Plynk app⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ today to start building your investing confidence: ⁠⁠⁠https://plynkinvest.app.link/IFB⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

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