The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network

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The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network episodes

October 12, 2025TIP760: Dollar Dominance Decline w/ Lyn Alden
In this episode, Stig Brodersen welcomes back one of the most insightful voices in global macroeconomics, Lyn Alden. In this wide-ranging conversation, they explore the shifting landscape of the U.S. dollar and its role in a rapidly changing world.

IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
02:11 - Whether we’re moving from a US dollar system to a three-polar currency system
09:14 - The relationship between the fiscal deficit and the US dollar
18:51 - Why the US dollar may not go back to the strength it had in 2022 any time soon
22:23 - How to use US dollar sanctions (if at all) to achieve your goals
37:01 - Whether the US effectively implements capital controls
41:55 - What would happen if the Fed lost its independence
50:16 - Can the fiscal budget effectively balance?
57:18 - How to think about investing in high-quality equity investing in an era of fiscal dominance

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES
Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.

Lyn Alden’s book, Broken Money.

Our interview with Lyn Alden about Investing during Fiscal Dominance.

Our interview with Lyn Alden about Gold.

Our interview with Lyn Alden about Currencies and Debt.

Our interview with Lyn Alden about her book, Broken Money.

Our interview with Lyn Alden about How the Fed Went Broke.

Our interview with Lyn Alden about Macro and the Energy Market.

Our interview with Lyn Alden about Money.

Kenneth Rogoff’s book, Our Dollar Your Problem.

Lyn Alden's free website.

Related ⁠⁠⁠books⁠⁠⁠ mentioned in the podcast.

Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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1 hr 19 min
October 10, 2025TIP759: The Art of Spending Money w/ Morgan Housel
On today’s episode, Clay is joined by Morgan Housel to discuss his newest book, The Art of Spending Money — Simple Choices for a Richer Life.
Morgan Housel is a partner at The Collaborative Fund. He's the New York Times Bestselling author of The Psychology of Money and Same As Ever. His books have sold over 8 million copies and have been translated into more than 50 languages. He also serves on the board of directors at Markel.

IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
02:04 - The intersection of money and happiness
06:08 - Why Buffett’s inner scorecard can empower us to use money as a tool instead of letting money use us
20:40 - Why the happiest people we know are oftentimes the most content
28:40 - Why chasing status is a game you’ll never be able to win
30:34 - Dopamine’s role in how we spend our money
35:27 - Why not all of our big spending decisions need to be run through a spreadsheet
38:06 - The shocking story of how the Vanderbilts lost billions of dollars due to social debt
46:46 - Why Morgan highly prioritizes spending money on independence
And so much more!

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES
Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.

Morgan’s new book: The Art of Spending Money.

Morgan’s other books: Same as Ever and The Psychology of Money.

Morgan’s Podcast.

Related Episode: TIP351: The Psychology of Money w/ Morgan Housel.

Related Episode: TIP602: Same as Ever w/ Morgan Housel.

Follow Morgan on X.

Follow Clay on ⁠⁠LinkedIn⁠⁠ & ⁠⁠X⁠⁠.

Related ⁠⁠books⁠⁠ mentioned in the podcast.

Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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1 hr 9 min
October 08, 2025TECH004: Sam Altman & the Rise of OpenAI w/ Seb Bunney
Seb and Preston analyze the book "Empire of AI," reflecting on Sam Altman’s rise and OpenAI’s transformation from a nonprofit into a powerhouse AI firm.

IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
00:04 - Why Sam Altman’s early ventures shaped his leadership style
00:09 - How storytelling plays a role in securing AI funding and public trust
00:11 - The founding vision behind OpenAI and Elon Musk’s original role
00:18 - The internal power struggles that led to Altman’s firing and reinstatement
00:20 - The significance of AI governance structures in shaping future technologies
00:28 - How OpenAI evolved from a non-profit to a capped-profit model
00:33 - Why AGI poses ethical and societal challenges
00:39 - The hidden costs and global inequalities in AI model training
01:00 - A sneak peek into longevity research and Lifespan by David Sinclair
01:01 - Why ancestral health might hold keys to understanding aging

BOOKS AND RESOURCES
Related book: Empire of AI: Dreams and Nightmares in Sam Altman's OpenAI.

Seb’s Website and book: The Hidden Cost of Money.

Seb's Blog: The Qi of Self-Sovereignty.

Next book: Lifespan: Why We Age―and Why We Don't Have To.

Related⁠⁠ books⁠⁠ mentioned in the podcast.

Ad-free episodes on our⁠⁠ Premium Feed⁠⁠.
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1 hr 6 min
October 05, 2025RWH061: How To Thrive No Matter What w/ Arnold Van Den Berg
In this episode, William Green chats with Arnold Van Den Berg, a revered investor whom he spotlighted in his book, Richer, Wiser, Happier. Against all odds, Arnold has run a highly successful investment firm for 50 years. Here, he discusses what he’s learned about how to succeed in markets & life; shares practical tools that he’s found transformative; & explains how he’s positioned to survive & thrive in the most overvalued US stock market he’s ever seen.

IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
06:57 - How extreme focus saved the life of Arnold Van Den Berg’s father.
14:05 - How to develop one-pointed focus & get into a flow state.
18:50 - What Dostoevsky taught Arnold about avoiding lies & discerning truth.
40:58 - How Arnold overcame a terrible self-image & “reprogrammed” himself.
40:58 - How he taught himself to be a successful investor.
01:34:51 - What habits he practices every day, including his favorite affirmations.
01:47:53 - How he remains optimistic amid adversity.
01:51:56 - Why he’s betting big on gold, silver, uranium, oil & natural gas.
01:51:56 - Why he thinks the S&P 500 “is one of the worst things you could buy.”
01:57:54 - Why he warns against long-term Treasury bonds & “anything with leverage.”
02:02:24 - How he & his firm are harnessing Artificial Intelligence.
02:09:59 - What brings him the greatest happiness.
02:19:02 - What you’ll learn from his favorite book about the “real secret to life.”

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES
Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more ⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠.

Join the exclusive ⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.

Inquire about William Green’s ⁠Richer, Wiser, Happier Masterclass⁠.

Arnold Van Den Berg’s investment firm, Century Management.

Write to request Arnold’s report on one-pointed focus.

Mihaly Csikszentmihalyi's ⁠Flow⁠.

Victor Frankl's Man’s Search for Meaning⁠.

Fyodor Dostoevsky's ⁠The Brothers Karamazov.⁠

James Nestor's Breath⁠.

Leslie Lecron's Self Hypnotism.⁠

Harry Carpenter's The Genie Within⁠.

Harry Carpenter’s audio recordings for relaxation & self-hypnosis.

James Allen' Mind is the Master⁠, including “From Poverty to Power”.

William Green’s 2022 podcast interview with Arnold Van Den Berg.

William Green’s 2023 podcast interview with Arnold Van Den Berg.

William Green’s book, “Richer, Wiser, Happier” – ⁠⁠⁠read the reviews of this book⁠⁠⁠.

Follow William Green on ⁠⁠⁠⁠⁠X⁠⁠⁠⁠⁠.

Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠.

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2 hr 21 min
October 03, 2025TIP758: Current Market Conditions & Investment Opportunities w/ Derek Pilecki
On today’s episode, Clay is joined by Derek Pilecki to discuss the current market conditions and the investment opportunities he’s finding in today’s chaotic environment.
Derek is a managing member and portfolio manager at Gator Capital Management, which manages Financials sector long/short portfolios for private partnerships and mutual funds. Since its inception in July 2008, Gator Capital has compounded capital at 21.8% per annum versus 11.9% for the S&P 500 over the same time period.

IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
04:33 - Derek’s process of looking for a potential 26% IRR on new investments.
07:43 - How value investing has evolved over the tenure of running his fund.
12:23 - The moves he made during the tariff tantrum earlier this year.
15:14 - How Buffett has influenced him as an investor.
19:51 - The opportunities he’s finding in the market today.
23:00 - How he expects the Fed’s interest rate cuts to impact the economy, the banking sector, and the real estate market.
45:25 - What Derek saw in Robinhood’s stock before it increased by over 10x.
58:24 - Derek’s investment thesis in WEX Inc.

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES
Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.

Derek’s fund: Gator Capital.

Derek’s letters.

Related Episode: TIP669: Quietly Compounding at 20%+ Per Year w/ Derek Pilecki.

Follow Derek on X.

Follow Clay on ⁠LinkedIn⁠ & ⁠X⁠.

Related ⁠books⁠ mentioned in the podcast.

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1 hr 3 min
October 01, 2025TECH003: Elon Musk's Tesla Robotaxi, Optimus, and more w/ Cern Basher (Tech Podcast)
Cern Basher joins Preston Pysh to talk about robotaxi and robo-trucking economics, Optimus humanoid robots, and Wall Street’s short-term blind spots.
Cern also unpacks Tesla’s Dojo shutdown, its true data moat, the macro impacts of autonomy and deflation, and why Bitcoin may be the ultimate corporate treasury hedge in this new era.

IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
02:02 - Why Tesla shut down Dojo and what that means
08:14 - How Tesla’s data advantage beats hardware competition
09:12 - Why Tesla’s future lies in AI and robotics, not just vehicles
12:49 - The deflationary effects of autonomy on labor and goods
20:55 - How investors can exploit Wall Street’s short-term bias
21:26 - How robotaxis could beat Uber’s per-mile costs by 10x
28:02 - Why robo-trucking may surpass robotaxis in profitability
40:00 - Why Bitcoin could hedge corporate treasuries in a new economy
42:09 - How Optimus robots could drive labor costs under $1/hour
45:42 - The economics of Robot-as-a-Service and Tesla’s potential moat

BOOKS AND RESOURCES
X Account: Cern Basher.

Cern’s company: Brilliant Advice.

Related books mentioned in the podcast.

Ad-free episodes on our Premium Feed.
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57 min
September 28, 2025TIP757: Richer, Wiser, Happier Q3 2025 w/ Stig Brodersen & William Green
Each quarter, Stig Brodersen sits down with his friend and co-host William Green, author of Richer, Wiser, Happier. Together, they reflect on the lessons and stories that have made them Richer, Wiser, or Happier over the past few months. From investing insights to timeless ideas about how to live well, this conversation is an invitation to join them on the journey toward a more meaningful life.

IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
05:35 - Whether universal truths about a good life really exist
07:43 - What we can — and can’t — learn about living well from other people
47:54 - Why happiness often comes more from the absence of negative emotions than from positive ones
50:24 - What William has learned about money and happiness from some of the wealthiest people on earth
01:17:33 - Why spending money on others may increase your own happiness
01:27:29 - Why Stig has deliberately constrained himself from reading new books this past quarter

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES
Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.

William Green’s book Richer, Wiser, Happier – read reviews of this book.

Check out their episode on being Richer, Wiser, and Happier in Q2 2025, Q1 2025, Q4 2024, Q3 2024, Q1 2024,and Q3 2023.

William Green’s interview with Hagstrom.

Sarah Bakewell’s book, How to Live: A Life of Montaigne in One Question and Twenty Attempts at an Answer.

Michel de Montaigne’s book, Essays.

David R. Hawkins’ book, Letting Go.

Ray Dalio’s book, How Countries Go Broke.

Ray Dalio’s book, Principles for Dealing with the Changing World Order.

Patrul Rinpoche’s book, Words of My Perfect Teacher.

John Milton’s book, Paradise Lost.

Virginia Woolf’s book, A Room of One’s Own.

Related ⁠⁠⁠books⁠⁠⁠ mentioned in the podcast.

Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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2 hr 8 min
September 26, 2025TIP756: The Rise and Fall of Julian Robertson’s Tiger Fund w/ Kyle Grieve
Kyle Grieve discusses the rise and fall of legendary investor Julian Robertson, exploring how he built Tiger Fund into one of the most successful hedge funds of its era. You’ll learn about his investing philosophy, famous trades, and the lessons that shaped both his success and his ultimate downfall.

IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
02:05 - How Julian Robertson turned Tiger Fund into a powerhouse with a 32% annual return over 18 years.
04:51 - The story behind his legendary $300 million copper short and what it teaches about supply and demand.
10:31 - How lessons from the Navy shaped his leadership, discipline, and global outlook.
13:10 - Why Robertson believed “the market” doesn’t really exist and what that means for value investors.
16:22 - The unconventional no-fee structure and athlete-like mentality that made Tiger different.
17:30 - Why Robertson leaned on vast information networks and even his investors to uncover new ideas.
19:31 - The crude sentiment tools Tiger used such as an early version of the Fear & Greed Index.
32:35 - How Robertson spotted bubbles from Japan in the 1980s to dot-com mania in the 1990s.
53:04 - The seven core themes that guided his stock-picking framework.
01:01:28 - How the tech bubble ultimately brought down Tiger Fund and the lasting lessons for investors today.

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES
Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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Buy a copy of Julian Robertson: A Tiger In The Land Of Bulls and Bears here.

Buy a copy of Money Masters of Our Time here.

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1 hr 3 min
September 24, 2025TECH002: Jensen Huang & NVIDIA w/ Seb Bunney - Review of The Thinking Machine by Stephen Witt
Preston and Seb launch their tech book review series with a deep dive into The Thinking Machine, a book about NVIDIA and its CEO Jensen Huang.
They explore NVIDIA’s transformation from a gaming hardware company to a key player in AI, discussing CUDA, leadership strategy, robotics, and the speed of innovation. The episode ends with a preview of their next review, Empire of AI.

IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
05:29 – How NVIDIA transitioned from gaming GPUs to leading AI infrastructure
09:26 – Why CUDA was a turning point in GPU development for AI research
15:37 – The role of NVIDIA in enabling modern AI models, including transformers
19:55 – Jensen Huang’s leadership style and strategic market thinking
20:14 – The significance of creating new markets versus competing in existing ones
24:44 – How NVIDIA trains robots in hyper-realistic digital environments
27:47 – The impact of LiDAR and simulation on robotics advancement
38:53 – Whether Jensen's success is due to luck, skill, or strategic foresight
50:30 – The meaning behind Jensen’s "speed of light" principle
01:01:00 – What’s coming next in the book review series, starting with Empire of AI

BOOKS AND RESOURCES
Related Book: The Thinking Machine: Jensen Huang, Nvidia, and the World's Most Coveted Microchip.

Seb’s Website and book: The Hidden Cost of Money.

Related ⁠⁠books⁠⁠ mentioned in the podcast.

Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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1 hr 8 min
September 21, 2025TIP755: My Process for Finding Great Investments w/ Kyle Grieve
On today’s episode, Kyle Grieve discusses the lessons that shaped his investing philosophy, from painful early mistakes in crypto to building a disciplined framework focused on quality businesses and high-potential, undervalued microcaps. He shares how goals, temperament, and a business-owner mindset guide his decisions, and why compounding, capital efficiency, and management integrity are the cornerstones of his strategy.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
02:16 - Lessons learned from the early days as a pure speculator.
08:40 - Kyle’s simple investing goal and the pros and cons of pursuing it.
09:16 - Why benchmarks are irrelevant to his approach.
14:00 - How adopting a business-owner mindset helps compound capital.
17:29 - The two categories of investments that form the foundation of his investing strategy.
18:21 - Why quality lies on a spectrum and why the highest quality business isn’t always the best investment choice.
19:33 - The importance of skilled and aligned management.
32:21 - The three main reasons Kyle sells a stock.
36:10 - How to combat confirmation bias and the sunk cost fallacy.
38:24 - Why averaging up has been more effective than averaging down.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES
Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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1 hr 5 min

About The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network

From the publisher's feed

Hosted by Stig Brodersen, William Green, Shawn O'Malley, Daniel Mahncke, and Kyle Grieve, The Investor’s Podcast has proudly reached nearly 200 million downloads, as the world's largest stock-investing focused podcast.