On this show we've talked a lot about Warren Buffett's investment successes. In this episode I'm doing something a little different - we'll discuss his biggest investment blunder. This episode covers the story of the Dexter Shoe purchase. Buffett had high hopes and the investment seemed to be paying off ...before disaster struck. Check out the episode for the full story and key takeaways from it.

Sources:

https://markets.businessinsider.com/news/stocks/warren-buffett-most-gruesome-mistake-dexter-shoe-9-billion-error-2020-1-1028827359

https://www.berkshirehathaway.com/letters/1993.html

https://www.berkshirehathaway.com/letters/2000pdf.pdf

https://www.berkshirehathaway.com/letters/2014ltr.pdf

https://www.berkshirehathaway.com/letters/2007ltr.pdf

https://www.berkshirehathaway.com/letters/2015ltr.pdf

https://www.berkshirehathaway.com/letters/2002pdf.pdf

https://www.berkshirehathaway.com/letters/2001pdf.pdf

https://www.npr.org/2018/07/26/632848414/when-oracles-err

https://www.celebritynetworth.com/articles/entertainment-articles/harold-alfond-turned-1000-3-5-billion-worth-warren-buffetts-berkshire-hathaway-stock/

https://www.nextgenforme.com/grants-for-maine-residents/alfond-grant/

Podcast website:

Wall Street Vision Investing Podcast

Get in touch with Vlad:

Wall Street Vision - Contact

Disclaimer:

This podcast is for entertainment purposes only and should not be relied upon as the basis for investment decisions. Before making any decisions, consult a professional. I may maintain positions in the securities discussed on this podcast. This show is copyrighted by the Wall Street Vision, written permission must be granted before syndication or rebroadcasting.

In this episode we'll dive into a story about how Mohnish Pabrai made a 55%+ return on his Frontline investment (in a few months!). The story takes place in the early 2000's, but there's some great timeless lessons to learn from Mohnish's approach. By the way, in case you're wondering, Frontline is a company that transports crude oil around the world using massive ships. 

We'll go over how Mohnish used a mental model to figure out this was a good opportunity, and we cover the importance of having a circle of competence in investing. 

Sources:

https://www.youtube.com/watch?v=XNtWcAag9as&ab_channel=MohnishPabrai

https://www.morningstar.in/posts/38503/2/mohnish-pabrai-how-to-profit-from-uncertainty.aspx

Podcast website:

Wall Street Vision Investing Podcast

Get in touch with Vlad:

Wall Street Vision - Contact

Disclaimer:

This podcast is for entertainment purposes only and should not be relied upon as the basis for investment decisions. Before making any decisions, consult a professional. I may maintain positions in the securities discussed on this podcast. This show is copyrighted by the Wall Street Vision, written permission must be granted before syndication or rebroadcasting.

The late 60's and early 70's were the "go-go" years on Wall Street. You had a massive boom in the number of young people joining the investment industry, and there was a group of 50 companies called the Nifty Fifty. These were supposed to be "one decision companies" that you could buy at any price and still get rich. The logic was that their amazing earnings growth would make up for their high price... Well, it didn't quite turn out like that. Check out this episode for the lessons from their boom and bust. We'll also take a look at Jeremy Siegel's research on their Nifty Fifty (which might shock you!)

Sources:

https://www.investopedia.com/terms/n/niftyfifty.asp

https://www.cnbc.com/2018/11/28/lessons-from-the-nifty-fifty-in-the-1970s-could-be-applied-to-fang.html

https://www.stewartinvestors.com/all/insights/stap/nifty-fifty.html

https://medium.com/@equityschool/nifty-fifty-stock-bubble-of-the-seventies-is-there-a-similarity-with-today-s-market-34b19d7a4cff

https://www.oaktreecapital.com/docs/default-source/memos/something-of-value.pdf

https://awealthofcommonsense.com/2020/07/the-nifty-fifty-and-the-old-normal/

http://csinvesting.org/wp-content/uploads/2015/03/valuing-growth-stocks-revisiting-the-nifty-fifty.pdf

https://www.cnbc.com/2017/05/26/were-not-in-the-danger-zone-for-overheating-says-longtime-stock-bull-jeremy-siegel.html

Podcast website:

Wall Street Vision Investing Podcast

Get in touch with Vlad:

Wall Street Vision - Contact

Disclaimer:

This podcast is for entertainment purposes only and should not be relied upon as the basis for investment decisions. Before making any decisions, consult a professional. I may maintain positions in the securities discussed on this podcast. This show is copyrighted by the Wall Street Vision, written permission must be granted before syndication or rebroadcasting.

Scale Economics Shared is a business model that creates amazing long term growth in companies that implement it well. It's also a business model that ensures a long runway for a company, excites its customers and keeps competitors at bay. Costco used this strategy to grow a lot during the years Jim Sinegal was CEO. Check out this episode to learn about Scale Economics Shared and the Costco Story. Sources for episode:

https://microcapclub.com/2018/02/new-mental-model-investing/

http://mastersinvest.com/newblog/2020/9/16/learning-from-nicholas-sleep

https://igyfoundation.org.uk/wp-content/uploads/2021/04/Full_Collection_Nomad_Letters_.pdf

https://www.youtube.com/watch?v=f9Iv_vdO7sw&ab_channel=MyTalkShowHeroesMyTalkShowHeroes

https://en.wikipedia.org/wiki/James_Sinegal

https://www.youtube.com/watch?v=dzejHGniMTQ&ab_channel=CNBCCNBC

Podcast website:

Wall Street Vision Investing Podcast

Get in touch with Vlad:

Wall Street Vision - Contact

Disclaimer:

This podcast is for entertainment purposes only and should not be relied upon as the basis for investment decisions. Before making any decisions, consult a professional. I may maintain positions in the securities discussed on this podcast. This show is copyrighted by the Wall Street Vision, written permission must be granted before syndication or rebroadcasting.

In this episode we'll cover the amazing story of how Bill Benter made over a billion dollars from betting on horse races. Charlie Munger has often talked about horse race betting as a mental model for how the stock market works. We'll also cover the importance of having a circle of competence in investing, and why Charlie Munger recommends investing in companies with a high return on equity.

Charlie's speech "Art of Stockpicking":

http://www.grahamanddoddsville.net/wordpress/Files/Gurus/Charlie%20Munger/Charlie%20Munger%20_%20Art%20of%20Stock%20Picking.pdf

Bill Benter story sources:

https://www.paulickreport.com/horseplayers-category/wagering-algorithms-and-the-ghost-of-the-unclaimed-118-million/

https://www.youtube.com/watch?v=4B0mGYZqElo

https://en.wikipedia.org/wiki/Bill_Benter

Podcast website:

Wall Street Vision Investing Podcast

Get in touch with Vlad:

Wall Street Vision - Contact

Disclaimer:

This podcast is for entertainment purposes only and should not be relied upon as the basis for investment decisions. Before making any decisions, consult a professional. I may maintain positions in the securities discussed on this podcast. This show is copyrighted by the Wall Street Vision, written permission must be granted before syndication or rebroadcasting.

Stocks that return a 10,000% gain are called 100 baggers. The math behind 100 baggers is awesome - Invest $10,000 and get $1,000,000. Sign me up for those types of returns! Well... It's not so easy - the tricky part is finding these types of stocks. Lucky for us, Chris Mayer wrote an amazing book just on that topic. In this episode we'll explore his findings. 

100 Bagger Book:

https://www.amazon.com/100-Baggers-Stocks-100-1-ebook/dp/B019978QJQ

Monster Energy story:

https://www.equities.com/news/small-cap-success-story-monster-beverage

Podcast website:

Wall Street Vision Investing Podcast

Get in touch with Vlad:

Wall Street Vision - Contact

Disclaimer:

This podcast is for entertainment purposes only and should not be relied upon as the basis for investment decisions. Before making any decisions, consult a professional. I may maintain positions in the securities discussed on this podcast. This show is copyrighted by the Wall Street Vision, written permission must be granted before syndication or rebroadcasting.

You often hear that "Time in the Market" beats "Timing the Market". In this episode we'll cover some research that sheds light on why this true, and we'll also look at what some great investors have to say about it. Here are the show notes with links referenced in the episode:

Quotes from great investors on Timing the Market:

http://mastersinvest.com/newblog/2018/3/29/market-timers

J.P. Morgan guide to retirement:

https://am.jpmorgan.com/us/en/asset-management/adv/insights/retirement-insights/guide-to-retirement/ 

Vanguard study on lump sum investing vs. dollar cost averaging:

https://static.twentyoverten.com/5980d16bbfb1c93238ad9c24/rJpQmY8o7/Dollar-Cost-Averaging-Just-Means-Taking-Risk-Later-Vanguard.pdf

Podcast website:

Wall Street Vision Investing Podcast

Get in touch with Vlad:

Wall Street Vision - Contact

Disclaimer:

This podcast is for entertainment purposes only and should not be relied upon as the basis for investment decisions. Before making any decisions, consult a professional. I may maintain positions in the securities discussed on this podcast. This show is copyrighted by the Wall Street Vision, written permission must be granted before syndication or rebroadcasting.

You've probably seen the headlines about food prices, lumber and copper prices increasing. With the massive amounts of money printing and government spending, it's no wonder people are starting to think about inflation coming up. Check out this episode for a guide to different types of inflation, and how Warren Buffett thinks about investing during inflationary periods. 

Podcast website:

Wall Street Vision Investing Podcast

Get in touch with Vlad:

Wall Street Vision - Contact

Disclaimer:

This podcast is for entertainment purposes only and should not be relied upon as the basis for investment decisions. Before making any decisions, consult a professional. I may maintain positions in the securities discussed on this podcast. This show is copyrighted by the Wall Street Vision, written permission must be granted before syndication or rebroadcasting.

Bitcoin is now over 10 years old and there's still a healthy debate over it. Is it a legitimate replacement for gold or is it a speculative asset that will end up worth $0? Check out this episode to learn what Warren Buffett and Ray Dalio think about Bitcoin. More info from Ray Dalio is at the link below:

https://www.bridgewater.com/research-and-insights/our-thoughts-on-bitcoin

Podcast website:

Wall Street Vision Investing Podcast

Get in touch with Vlad:

Wall Street Vision - Contact

Disclaimer:

This podcast is for entertainment purposes only and should not be relied upon as the basis for investment decisions. Before making any decisions, consult a professional. I may maintain positions in the securities discussed on this podcast. This show is copyrighted by the Wall Street Vision, written permission must be granted before syndication or rebroadcasting.

Leverage is essentially borrowing money to increase your returns. LTCM (Long Term Capital Management) was a hedge fund started by John Meriwether in the 90's. This fund used leverage as a way to make incredible returns for investors... Until it went bust. Tune in to this episode to learn about the LTCM story and what went wrong. I'll also cover 2 non-financial ways to use leverage in your daily life. 

Podcast website:

Wall Street Vision Investing Podcast

Get in touch with Vlad:

Wall Street Vision - Contact

Disclaimer:

This podcast is for entertainment purposes only and should not be relied upon as the basis for investment decisions. Before making any decisions, consult a professional. I may maintain positions in the securities discussed on this podcast. This show is copyrighted by the Wall Street Vision, written permission must be granted before syndication or rebroadcasting.