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

By The Investor's Podcast NetworkBusiness Education Investing

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

October 22, 2023TIP583: Preparing for the Bear Market to Come w/ Gautam Baid
Clay Finck is joined by Gautam Baid to discuss his new book, The Making of a Value Investor.
Gautam Baid, CFA is the Managing Partner of Stellar Wealth Partners India Fund, a Delaware-based investment partnership which is available to accredited investors in the US. Gautam is also the Equity Advisor of Complete Circle Stellar Wealth PMS, a portfolio management service which is available to Indian citizens and NRIs globally. Both funds are modeled after the Buffett Partnership fee structure and invest in listed Indian equities with a long-term, fundamental, and value-oriented approach.

Gautam is author of the international best-seller on value investing, The Joys of Compounding. In 2018 and 2019, he was profiled in Morningstar’s Learn from the Masters series.

IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro.
02:40 - The impetus for Gautam writing a second book.
04:24 -Why journaling is an important practice for value investors.
06:27 - Why judging market sentiment is important and how investors can go about doing so.
13:21 - How Gautam came to the realization that quality of the business should be emphasized.
16:19 - Why a behavioral edge is the most accessible edge to individual investors today.
19:57 - Gautam’s biggest eureka moment in his journaling process.
27:25 -Why we should let our portfolio winners run.
29:31 - How Gautam thinks about liquidity and why Stan Druckenmiller considers it the most important thing in markets.
33:43 - The telltale signs that a bear market is complete.
39:50 - What companies you shouldn’t average down on in a bear market.
47:00 - How quality businesses thrive during a bear market.
48:19 -Why different stocks require differing levels of patience.
50:23 - How we can use the wisdom of markets to our advantage.
54:05 - How Gautam thinks about the Fed’s policies.
59:21 - How investors can best prepare themselves for the next bear market.

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, and the other community members.
Check out our newly released TIP Mastermind Community.
Learn more about Gautam’s Fund – Stellar Wealth Partners.
Gautam’s book: The Making of a Value Investor.
Check out the related episode: WSB566: The Passionate Pursuit of Lifelong Learning w/ Gautam Baid, or watch the video here.
Follow Clay on Twitter.
Follow Gautam on Twitter.
SPONSORS
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1 hr 2 min
October 18, 2023BTC152: The Debt Event Horizon & Bitcoin w/ Jesse Myers (Bitcoin Podcast)
Preston Pysh talks with Jesse Myers about the FTX court findings, a few of Jesse’s recent articles on the debt spiral, the ability for institutions to perform multi-institutional Bitcoin custody, and much more.

IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro
01:11 - Jesse's thoughts on the FTX trial.
03:50 - The impact of FTX selling Bitcoin into the last bull market.
03:50 - Does the halving event matter?
15:54 - Have we passed the event horizon for US debt?
15:54 - What outsiders are missing about Bitcoin and the debt burdens.
30:09 - How is Janet Yellen suggesting the US' interest expense could only be 1% of GDP?
33:33 - Jesse's thoughts on AI and Bitcoin.
50:20 - How and why multi-sig institutional custody is evolving right now.

BOOKS AND RESOURCES
Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Jesse Myers' Twitter.
Jesse's Newsletter.
Jesse's Company: Onramp.
NEW TO THE SHOW?
Check out our We Study Billionaires Starter Packs.
Browse through all our episodes (complete with transcripts) here.
Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
Enjoy exclusive perks from our favorite Apps and Services.
Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.
Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS
Support our free podcast by supporting our sponsors:
River
Toyota
CI Financial
Sun Life
AFR
The Bitcoin Way
Industrious
Briggs & Riley
Range Rover
Meyka
iFlex Stretch Studios
Vacasa
Public
Simon & Schuster
USPS
American Express
Shopify
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1 hr 1 min
October 15, 2023RWH034: The High Road To Riches w/ Peter Keefe
In this episode, William Green chats with Peter Keefe, an outstanding investor who’s trounced the market over three decades. Here, Peter discusses his timeless investing principles, what he looks for in a great business, how he evaluates the quality of management, why he loves Microsoft & Markel, why managing money is a high calling, & what investors can learn from apex predators.

IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
02:55 - How Peter Keefe taught himself to invest intelligently.
07:59 - Why he loathed selling stocks as a broker on commission.
28:12 - How Peter built a dazzling record based on timeless principles.
31:49 - Why he views selling great businesses too early as his costliest mistake.
38:46 - Why he ignores economic predictions.
42:50 - Why he owns a concentrated portfolio of 10-12 stocks.
47:39 - How Microsoft & Markel embody what he looks for in a business
52:28 - How he made hundreds of times his money on American Tower.
1:14:33 - How he evaluates the quality of management.
1:25:52 - What investors should learn from apex predators.
1:43:29 - Why humility is an indispensable virtue for investors.
1:44:22 - Why a money manager’s principal motivation should be to serve others.
1:46:30 - How Peter measures a successful life.

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, and the other community members.
Peter Keefe’s investment firm, Avenir Corporation
Peter Keefe’s letters to shareholders
Hendrik Bessembinder’s study, Do Stocks Outperform Treasury Bills?
Clayton Christensen’s book, How Will You Measure Your Life?
William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book
Follow William Green on X (AKA Twitter)
SPONSORS
Support our free podcast by supporting our sponsors:
River
Toyota
CI Financial
Sun Life
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The Bitcoin Way
Industrious
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Meyka
Public
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American Express
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1 hr 52 min
October 13, 2023TIP582: Quality & Defensive Investing w/ Christian Billinger
Clay Finck is joined by Christian Billinger to discuss his quality investing philosophy.
Christian is chairman of Billinger Förvaltnings AB, which invests in publicly listed equities. The firm seeks to generate attractive long-term total returns in real terms without employing financial leverage. Christian previously covered European equities for Cheyne Capital, Gartmore, and GAM in London.

IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
01:39 - What quality investing is and why it works.
04:20 - How Christian assesses the reinvestment rate for a business and a company’s runway.
10:27 - Why soul in the game is more important than skin in the game.
12:58 - Qualities to look for to find operating managers with soul in the game.
19:16 - Why Christian prefers investing in family-owned public equities.
21:59 - Why he highly prioritizes removing the risk of losing money.
25:48 - What differentiates Christian’s current holdings from companies on his watchlist.
31:44 - What Christian learned from working with institutional investors.
41:36 - What stands out to Christian about Markel.
46:37 - Why Tom Gayner is an investor and business manager worth studying.
47:46 - How the investment outlook between Berkshire and Markel differ.
49:42 - Why Christian’s fund is heavily invested in the spirits industry, and what has led to the recent underperformance in 2023.

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, and the other community members.
Christian’s investment firm.
Related Episode: WSB566: The Passionate Pursuit of Lifelong Learning w/ Gautam Baid or watch the video here.
SPONSORS
Support our free podcast by supporting our sponsors:
River
Toyota
CI Financial
Sun Life
AFR
The Bitcoin Way
Industrious
Briggs & Riley
Meyka
Public
Vacasa
American Express
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USPS
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56 min
October 11, 2023BTC151: This is NOT Capitalism w/ Allen Farrington (Bitcoin Podcast)
During Preston Pysh's discussion with Allen Farrington, Allen provides critical thought experiments and challenges to many of the ideas that plague Wall Street and business schools.

IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro
04:56 - What does the UFC have to do with economics and money?
08:28 - The Efficient Market Hypothesis.
19:18 - Is risk volatility?
19:18 - The Capital Asset Pricing Model.
31:10 - This is NOT capitalism.
34:49 - The flaws in using GDP.
44:21 - Thoughts on Bitcoin and derivative markets.
44:21 - The societal implications of Bitcoin and beyond it's economic value.

BOOKS AND RESOURCES
Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Allen Farrington's Twitter.
Allen's Website.
Allen's book, Bitcoin is Venice.
NEW TO THE SHOW?
Check out our We Study Billionaires Starter Packs.
Browse through all our episodes (complete with transcripts) here.
Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
Enjoy exclusive perks from our favorite Apps and Services.
Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.
Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS
Support our free podcast by supporting our sponsors:
River
Toyota
CI Financial
Sun Life
AFR
The Bitcoin Way
Industrious
Briggs & Riley
Meyka
Public
Vacasa
American Express
iFlex Stretch Studios
Range Rover
Fundrise
USPS
Shopify
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53 min
October 08, 2023TIP581: Richer, Wiser, Happier Q3, 2023 w/ Stig Brodersen & William Green
On today’s show, Stig Brodersen talks with co-host William Green, the author of “Richer, Wiser, Happier.” With a strong focus on kindness, they discuss what has made them Richer, Wiser, or Happier in the past quarter

IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
06:27 - How not to let negative emotions run
21:15 - How to stay humble in your search for your approach
32:36 - How to set up a process for validating the truth
58:35 - How to play games you are equipped to win
1:07:13 - How to understand the emotions of the best investors
1:16:42 - How a job selling flowers can change your life
1:30:21 - How to think about intentions when you want to help your fellow man

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, and the other community members.
Tune in to Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q2 2023, or watch the video.
Listen to Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q1 2023, or watch the video.
Listen to Stig Brodersen and William Green’s episode on Money and Happiness or watch the video.
Tune in to William Green’s interview with Daniel Goleman & Tsoknyi Rinpoche or watch the video.
Listen to William Green’s interview with Arnold Van den Berg about going from poverty to power or watch the video.
William Green’s book Richer, Wiser, Happier – read reviews of this book.
William Green’s book, The Great Minds of Investing – read reviews of this book.
Tara Bennett Goleman's book, Emotional Alchemy – read reviews of this book
David Hawkins’ book, Power vs. Force – read reviews of this book
David Hawkins’ book, Letting Go – read reviews of this book
David Hawkins’ book, Transcending the Levels of Consciousness – read reviews of this book
SPONSORS
Support our free podcast by supporting our sponsors:
River
Toyota
CI Financial
Sun Life
AFR
The Bitcoin Way
Industrious
Briggs & Riley
Meyka
Public
Vacasa
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Range Rover
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1 hr 38 min
October 06, 2023TIP580: Clear Thinking w/ Shane Parrish
Clay is joined by Shane Parrish to discuss his New York Times bestselling book Clear Thinking – Turning Ordinary Moments into Extraordinary Results. Many people fall prey to making decisions based on our instincts and our gut feelings. Shane’s book gives you the tools to recognize those moments that reshape how you navigate the critical space between stimulus and response.
Shane Parrish is the founder of the highly-esteemed blog Farnam Street and also the host of The Knowledge Project Podcast, where he focuses on mastering the best of what other people have already figured out. His work has been featured in nearly every major publication, including The New York Times, The Wall Street Journal, and Forbes.

IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro.
03:09 - How Shane differentiates between high-quality and low-quality information.
10:30 - What the enemies of clear thinking are.
12:36 - Why we should prioritize the outcome over our ego.
15:32 - Preventative measures we can use to combat the enemies of clear thinking.
23:16 - Why we can’t rely on willpower to achieve the outcomes we desire.
23:54 - How successful people outposition others in order to outperform others.
28:38 - How we can optimize our environment to achieve better outcomes.
31:54 - Frameworks related to differentiating our outcomes from our underlying decision-making processes.
36:13 - How Shane thinks about determining what really matters in life.
40:48 - Why happiness needs to be thought of as derived internally rather than derived from something external.
46:08 - What the important things in life are to Shane.
48:25 - How Shane remains grounded in what’s most important.
56:03 - Why Shane started a holding company that buys wonderful businesses.
57:05 - What led Shane to invest alongside Howard Marks and Bill Ackman when joining Tiny’s board.

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, and the other community members.
Shane’s book Clear Thinking.
Shane’s website.
Related Episode: WSB569: An Investor's Guide to Clear Thinking w/ Chris Mayer or watch the video here.
Follow Clay on Twitter.
Follow Shane on Twitter.
SPONSORS
Support our free podcast by supporting our sponsors:
River
Toyota
Sun Life
The Bitcoin Way
Meyka
Sound Advisory
Industrious
Range Rover
iFlex Stretch Studios
Briggs & Riley
Public
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56 min
October 04, 2023BTC150: Solving the Oracle Problem w/ Daniel Hinton & Steve Jeffress (Bitcoin Podcast)
On today’s conversation with Daniel Hinton and Steve Jeffress, they talk about the idea of financial oracles and how the price of Bitcoin in US dollar terms is passively showing up in the data of the Bitcoin blockchain.

IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro
01:39 - What is an Oracle and what is it needed for?
06:42 - What is a UTXO?
08:29 - What price information was discovered in the Bitcoin blockchain?
10:17 - How was it found?
10:17 - What are some other interesting things that have been found in the "heat-maps" of the data?
31:32 - How could this discovery be used in the future?
32:54 - Can you see the Hodl-waves in the data?
47:34 - What are some of the more important things to focus on in Bitcoin?

BOOKS AND RESOURCES
Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
UTXO.live to view the heatmaps.
Daniel Hinton's Twitter.
Steve Jeffress's Twitter.
A paper describing the UTXOracle: A Decentralized Approach to the Oracle Problem.
Daniel's education Website: RunBitcoin.org.
NEW TO THE SHOW?
Check out our We Study Billionaires Starter Packs.
Browse through all our episodes (complete with transcripts) here.
Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
Enjoy exclusive perks from our favorite Apps and Services.
Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.
Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS
Support our free podcast by supporting our sponsors:
River
Toyota
Sun Life
The Bitcoin Way
Meyka
Sound Advisory
Industrious
Range Rover
iFlex Stretch Studios
Briggs & Riley
Public
American Express
USPS
Shopify
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53 min
October 01, 2023TIP579: Big Mistakes by Michael Batnick
On today’s episode, Clay Finck reviews Michael Batnick’s book, Big Mistakes: The Best Investors and Their Worst Investments.
One of the best ways to become a better investor is to learn from our own mistakes. The second best (and less costly) way is to study the mistakes of others. If you want to learn from the mistakes of the world’s greatest investors, then this episode was made for you.

IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro.
01:24 - Lessons from Batnick’s book from studying the mistakes of the world’s greatest investors.
02:18 - How Benjamin Graham lost substantial capital during the great depression.
07:14 - How Jesse Livermore taught us to always limit the potential downside.
12:49 - How Long-Term Capital Management went from billions in AUM to zero almost overnight.
16:40 - Michael Steinhardt’s mistake of stepping outside of his circle of competence.
26:24 - What the endowment effect is.
27:20 - Warren Buffett’s biggest blunder.
29:57 - How Bill Ackman became publicly attached to a short position that went against him.
37:32 - How Stan Druckenmiller got suckered into the 1999 tech bubble.
49:21 - The dark side of concentrated investing.
54:50 - How Keynes transitioned from being a macro investor to a bottoms up value investor.

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, and the other community members.
Michael Batnick’s book, Big Mistakes.
Check out our previous episode: WSB577: Valuation Masterclass w/ Aswath Damodaran or watch the video here.
Follow Clay on Twitter.
NEW TO THE SHOW?
Check out our We Study Billionaires Starter Packs.
Browse through all our episodes (complete with transcripts) here.
Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
Enjoy exclusive perks from our favorite Apps and Services.
Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.
Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS
Support our free podcast by supporting our sponsors:
River
Toyota
Sun Life
The Bitcoin Way
Range Rover
Sound Advisory
BAM Capital
Fidelity
SimpleMining
Briggs & Riley
Public
Shopify
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1 hr
September 27, 2023BTC149: Parallels to the Roman Empire w/ Dr. Peter St. Onge (Bitcoin Podcast)
Preston Pysh and Dr. Peter St. Onge cover some of the current macro events and themes while also talking about a few parallels to the previous global superpowers of the past, like the Roman Empire.

IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro
01:44 - Peter's overview of what's causing the inflation that happened after 2020.
20:39 - What's happening in China and does Peter buy into all the headlines that it's got economic problems?
33:59 - Peter's thoughts on Bitcoin and how it's going to be relevant moving forward.
39:08 - A broad overview of the cyclical nature of great empires and Rome in particular.
39:08 - The currency issues in Rome and what caused them to occur.
49:22 - What type of social issues were experienced during the great Roman debasement?
01:02:21 - Peter's thoughts on Gold vs Bitcoin.

BOOKS AND RESOURCES
Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Peter's Youtube Channel.
Peter's website.
NEW TO THE SHOW?
Check out our We Study Billionaires Starter Packs.
Browse through all our episodes (complete with transcripts) here.
Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
Enjoy exclusive perks from our favorite Apps and Services.
Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.
Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS
Support our free podcast by supporting our sponsors:
River
Toyota
Sun Life
The Bitcoin Way
Range Rover
Sound Advisory
BAM Capital
Fidelity
SimpleMining
Briggs & Riley
Public
Shopify
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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1 hr 5 min

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

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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.