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

Jim Crider explores Bitcoin's impact on culture, future financial strategies, and the essence of money, highlighting its role in investment vs. speculative cycles, and ETF strategies. He also addresses financial planning with Bitcoin for different life stages, emphasizing the importance of understanding money beyond its face value.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:29 - The key aspects of Bitcoin that most people overlook and why they're crucial for understanding its value.

12:38 - How to educate clients on the true essence of money, combining its technical definition with its value-based aspects.

17:04 - How Bitcoin is expected to influence cultural and societal norms in the next two decades.

32:41 - Financial planning opportunities with Bitcoin for young families and retirees, highlighting commonly overlooked advantages.

36:57 - Strategies for integrating Bitcoin into fixed income portfolios to prepare for future financial shifts.

58:04 - The distinction between speculative and investment cycles in the context of Bitcoin and broader financial markets.

01:06:03 - The differences and benefits of in-kind versus cash creation in ETFs, and the implications for investors.

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

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In today’s episode, Kyle Grieve discusses the book Cable Cowboy: John Malone and the Rise of the Modern Cable Business. He covers why and how John Malone was such a prodigious creator of value, how he aligned himself with shareholders, how he helped build his monopoly-like business, TCI, how he dealt with competitors and regulators, why he trained Wall Street to see value differently, why Malone despised paying taxes, how Malone engineered deals to enrich himself and shareholder simultaneously, and much more!

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

07:41 - Why John Malone chose to work for TCI at a significant discount

09:52 - How Malone kept costs down to maximize cash flow

16:24 - How John Malone used his knowledge of scale and leverage to build TCI

19:08 - How John created his accounting terms to best display TCI's abilities to create value

27:57 - How Malone used his scale advantages to secure better rates from programmers

36:34 - The monopoly-like power that TCI could yield that featured its bargaining power

38:17 - How Malone created life-changing wealth for himself from the Liberty Media spin-off

42:54 - Why John invented the 500-channel offering and how it protected the cable industry

45:51 - Malone's tactics to try and divert attention away from TCI's monopoly-like power

50:58 - How John Malone quickly improved TCI's financial statements through industry consolidation

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

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On today’s episode, Clay and Stig discuss the performance of Stig’s portfolio over the past 10 years and what he has learned from managing his portfolio over that time.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:02 - How Stig’s portfolio has performed over the past 10 years.

06:29 - Why Stig invested with Mohnish Pabrai.

28:32 - How private investments fit into Stig’s portfolio.

33:53 - Stig’s biggest investment mistakes.

40:17 - Why investing in Alibaba was a mistake.

46:21 - Stig’s biggest winners.

58:32 - How his approach has changed over the years.

1:08:46 - Whether TIP will ever launch a fund.

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

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Today's Bitcoin Fundamentals features Jeff Walton discussing MicroStrategy's finance strategies, including valuation and leveraging Bitcoin. We examine price actions, trading methods, and the impact of traditional finance on BTC futures, offering insights into the intersection of enterprise software and financial engineering.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:41 - The role of MicroStrategy in modern financial strategies.

07:41 - Game theory principles applied to market structure and investor behavior.

16:18 - How Jeff Walton evaluates MicroStrategy's valuation.

16:18 - Insights into leveraging Bitcoin as collateral in finance.

16:18 - The potential of enterprise software in financial engineering.

32:58 - The differences between trading strategies and investment philosophies.

50:45 - The dynamics behind the price action of MicroStrategy's stock.

56:02 - Understanding short squeezes and their impact on valuation.

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

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Kyle Grieve chats with Vitaliy Katsenelson about why we should align ourselves with what we love doing, how stoicism has helped Vitaliy deal with the volatility of negative emotions in the market and life, Vitaliy’s four favorite stoic tools, how to engineer our environments to improve our decision making and decrease costly mistakes, how we can utilize specific modes of communication to foster the learning process, why we should concern ourselves more with the truth and less on being right, how the markets have developed in the last decade pertaining to sideways markets, and a whole lot more!

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:04 - What soul in the game is and why it's so important to understand it if you want to truly excel at investing and other passions.

07:36 - Why meditation is such a powerful tool to help improve stress.

13:40 - How Vitaliy prioritizes areas of his life to ensure he's spending the right amount of time on high-priority areas.

19:13 - How stoicism has helped Vitaliy remove the volatility of negative emotion in the market and life.

20:13 - How investors can utilize the dichotomy of control to navigate volatile markets better.

20:13 - Simple negative visualizations to use on individual stocks and your portfolio to improve decision-making.

36:43 - Why toxic environments can influence us to live by other people's values.

40:30 - Why specific tasks should be delegated so you are focused only on creating value.

48:16 - Why our modes of communication can limit or expedite our abilities to improve and learn.

48:25 - The importance of discovering the truth for successful investing.

And so much more!

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

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On today’s episode, Clay is joined by Dr. Robert Cialdini to discuss Charlie Munger’s favorite book – Influence: The Psychology of Persuasion.

Dr. Cialdini is a New York Times Best Selling Author of Influence and Pre-Suasion.

He is also CEO and President of Influence at Work where they focus on ethical training, corporate keynote program, and the Cialdini Method Certified Trainer program. He received his PhD from the University of North Carolina and post-doctoral from Columbia University. In acknowledgment of his outstanding research achievements and contributions in behavioral science, he is frequently regarded as the “Godfather of Influence.”

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:53 - The story of what led Charlie Munger to give a Berkshire A share to Dr. Cialdini.

03:57 - How Buffett and Munger use reciprocity to enrich the world and themselves.

10:36 - What Cialdini learned in his personal interactions with Munger.

18:55 - How the commitment & consistency bias can affect us as investors.

23:04 - How we can utilize the principles of Influence in an honest and ethical way.

26:28 - Why trust is at the foundation of all great business relationships.

40:23 - Why the principle of scarcity is so powerful even in a world full of abundance.

58:54 - How we can guard ourselves against the liking bias when assessing management.

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

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Join us as Parker Lewis & Will Cole delve into Bitcoin's role as property or currency, discuss Bill Ackman's views and Saylor's latest buy. We explore Bitcoin payments, the impact of high rates, and the future of digital authentication. This episode is packed with insights on the evolving cryptocurrency landscape and its broader economic implications. Tune in for a deep dive into the forefront of digital assets.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

11:03 - Bill Ackman's prediction on Bitcoin's cycle and its implications on the economy.

26:26 - Michael Saylor's strategic acquisition of an additional 12,000 BTC for MicroStrategy.

27:12 - The debate on whether Bitcoin should be considered digital property or a currency.

38:50 - The potential of Bitcoin payments and the innovative approach of Zaprite.

38:50 - Integration of fiat payments in the Bitcoin ecosystem, including the use of stablecoins and traditional currencies.

51:28 - The feasibility and implications of receiving lightning payments through a Tor-enabled node.

51:28 - The challenge of authentication in the digital age, especially in the context of AI and the potential for misinformation.

01:02:32 - A discussion on global policy trends and competition in the digital asset space, highlighting the strategic importance of cryptocurrency.

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

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In this episode, William Green chats with renowned hedge fund manager Guy Spier, who has run the Aquamarine Fund since 1997. This conversation has been split into two episodes. Here, in Part 2, Guy shares insights on how to succeed over the long run by avoiding dumb investment behavior, building the right relationships, and recognizing our weaknesses. This is an unusually candid conversation between William & Guy—old friends who collaborated on Guy’s classic book, “The Education of a Value Investor.”

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro

01:36 - What dumb investment behavior Guy Spier strives to avoid

05:12 - What type of companies he shuns

07:05 - Why good relationships are a key to financial & personal success

07:25 - Why we should be especially wary of leverage

15:46 - Why it’s vital to find “friends along the path” who support us emotionally

29:34 - Why it’s helpful to shine a light on our own weaknesses

41:18 - How he handles painful, contentious conversations

51:24 - How to engage with people whose beliefs & experiences differ from ours

1:07:05 - What role money does—or doesn’t—play in a rich & meaningful life

1:11:11 - What Guy learned from Warren Buffett’s exercise of writing your own obituary

1:31:39 - How reading great literature can make you wiser & happier

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

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In this episode, William Green chats with renowned hedge fund manager Guy Spier, who has run the Aquamarine Fund since 1997. This conversation has been split into two episodes. Here, in Part 1, Guy discusses the art of compounding wealth over decades, drawing on lessons he’s learned from Warren Buffett, downhill ski racers, & his own mistakes. This is an unusually candid conversation between William & Guy—old friends who collaborated on Guy’s classic book, “The Education of a Value Investor.”

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro

04:07 - Why it’s so intense for Guy Spier & William Green to collaborate

10:19 - How telling the truth changed Guy’s life

17:53 - Why the Global Financial Crisis terrified him

24:52 - Why it’s hard to invest rationally in the real world of chaos & confusion

29:25 - How Guy deals with his emotions when making investment decisions

35:03 - Why his default position is to hold his stocks indefinitely & resist meddling

38:48 - Why he didn’t sell his stake in Alibaba

42:01 - Why he’s pleased with & disappointed by his investment returns

46:32 - Why his mission is long-term compounding without catastrophe

55:06 - What Guy learned from investing in a company that went bankrupt

57:57 - What the fastest skiers can teach us about success & survival

1:00:02 - How excessive risk destroyed a fund manager he once knew

1:04:13 - What we can learn from Warren Buffett about financial resilience

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

BOOKS AND RESOURCES

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On today’s episode, Clay is joined by Richard Duncan to discuss current market conditions, whether we’ll see a recession in 2024, the potential for interest rate cuts, and more.

Richard Duncan is the author of The Money Revolution: How To Finance The Next American Century.

Since beginning his career as an equities analyst in Hong Kong in 1986, Richard has served as global head of investment strategy at ABN AMRO Asset Management in London, worked as a financial sector specialist for the World Bank in Washington D.C., and headed equity research departments for James Capel Securities and Salomon Brothers in Bangkok. He also worked as a consultant for the IMF in Thailand during the Asia Crisis.  

Since 2013, Richard has published Macro Watch, a video newsletter that analyzes the forces driving the economy and the financial markets in the 21st Century.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:47 - How our modern-day economy is structured with the US dropping the gold standard in 1971.

10:29 - Why our economy requires perpetual credit expansion.

17:46 - How the credit environment has developed since 2020.

26:11 - What a recession is and what the implications of a recession are.

29:47 - Why Richard foresees a recession in 2024.

31:55 - The primary drivers of credit growth.

43:26 - Why we’ll likely see interest rate cuts in 2024.

53:03 - The drawbacks of our modern-day economy.

60:00 - Indicators that investors need to monitor in today’s economy.

64:03 - Where the US is at in the AI race.

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

BOOKS AND RESOURCES

SPONSORS

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