On today’s episode, Kyle Grieve explores how common stocks, paired with contrarian thinking and an understanding of cycles, can generate strong returns. We’ll cover lessons Ed shares from his journey—like allowing for imprecise valuations and learning from disappointing investments. We’ll also look at the value of investing alongside great investors and acting decisively during market panics.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

04:00 - Why common stocks offer more than just solid returns.

06:14 - One mindset shift to sharpen your contrarian investing edge.

07:43 - Three questions that clarify any tough investing decision.

12:54 - How averaging up became Ed’s unfair advantage.

16:14 - The shortcut Ed uses to spot great investments.

18:08 - Earnings, multiples, and perception: the formula behind significant returns.

24:35 - A turnaround playbook for deep value opportunities.

29:36 - Cyclicality decoded: spotting hidden patterns before the crowd.

49:23 - When bad investments still make you a better investor.

59:25 - Ed’s surprising win in a sector everyone hates.

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 François Rochon to discuss his long-term investing philosophy. François firmly believes that buying great businesses at fair prices is the key to success as a long-term investor. He also believes that trying to time the market is a fool’s errand and that stock price volatility is a gift to investors seeking to beat the market.

Since Francois started the Rochon Global Portfolio in 1993, he’s compounded capital at 13.6% per year on average net of fees, and the S&P 500 has compounded at 10.6%.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:28 - Why François spends the time to write a letter for his partners each year.

05:03 - François’s takeaways and lessons from 2024.

08:13 - The types of businesses François looks to invest in.

11:05 - How concentrated he prefers to make his fund.

13:18 - Why Giverny Capital will always remain fully invested.

29:47 - The four key risks for equity investors to consider.

40:07 - Why Francois recently made Booking Holdings and Brown & Brown core positions in his portfolio.

56:46 - Francois’s updated views on Alphabet.

And so much more!

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

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From ETF debates to home heat mining, Jessy brings deep insights on navigating Bitcoin's evolution, securing your crypto, and building a future with sound strategy and security.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

13:24 - Whether Bitcoin can serve as a reliable retirement asset

22:41 - Practical steps for passing down Bitcoin to future generations

27:32 - How to safely and effectively donate Bitcoin to charity

29:36 - How Bitcoin ETFs are reshaping market dynamics and investor behavior

35:24 - Risks of centralized exchanges and why they’re considered “honeypots”

35:47 - Whether investing in MicroStrategy is a smart Bitcoin proxy play

36:08 - The pros and cons of Bitcoin ETFs vs. private keys

42:03 - How mining pool centralization could threaten Bitcoin’s decentralization

42:26 - Jessy's personal journey with home mining and heating

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

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On today’s episode, Kyle Grieve chats with Harris Kupperman about his investing strategy based around concentrated bets on macro and events. Harris has decades of market experience and shares his thoughts on why investors have so much difficulty navigating the markets.

Harris Kupperman is Praetorian Capital Management LLC's founder and chief investment officer. He focuses on inflecting trends and event-driven strategies. He’s also the author of Kuppy’s Korner, a widely followed investment blog. In addition to his investing work, he serves as Chairman and CEO of Mongolia Growth Group, giving him firsthand experience as an operator.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:57 - Unlocking macro investing secrets that actually work in real markets

15:58 - How Harris shifts between strategies based on market conditions

19:58 - Why cutting low-conviction positions can unlock capital for bigger winners

25:35 - The hidden advantage of focusing on absolute returns over benchmarks

28:18 How averaging up in commodity cycles can multiply your returns

31:13 - Why Harris believes many MAG-20 stocks aren’t worth the hype

42:38 - Why asset-heavy businesses still hold massive value in today’s economy

53:13 - Why stubbornness and patience are key to real investing success

56:54 - Hedging: A smart risk strategy or just a waste of returns?

1:01:32 - The case for moving fast when investing in inflection point businesses

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

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In this episode, Clay explores When Genius Failed by Roger Lowenstein, the gripping story of the rise and fall of Long-Term Capital Management (LTCM). 

Founded by Wall Street’s brightest minds, including Nobel Prize-winning economists, LTCM generated astronomical returns using complex mathematical models and extreme leverage—until a financial crisis in 1998 exposed its fatal flaws. Clay also discusses the dangers of overconfidence, the illusion of diversification, and why excessive leverage can be a ticking time bomb. 

Additionally, he shares details on an exclusive value investing event hosted by TIP in Big Sky, Montana, in September 2025.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:34 - How John Meriwether and a team of Wall Street’s brightest minds, including Nobel laureates, built a hedge fund that seemed invincible, using sophisticated financial models and extreme leverage.

25:55 - LTCM’s reliance on mathematical models that assumed markets behaved rationally, leading them to underestimate the possibility of extreme events.

48:30 - How the Russian debt default triggered widening credit spreads, exposing LTCM’s overleveraged positions and leading to catastrophic losses.

54:49 - Why LTCM’s failure posed systemic risks to the global financial system, forcing the Fed to coordinate a rescue with major Wall Street banks.

01:08:17 - The dangers of excessive leverage, overconfidence in financial models, and the mistaken belief that markets always revert to historical norms.

01:15:09 - How to attend our new value investing event in Big Sky, Montana, bringing together passionate investors for deep discussions and meaningful connections.

And so much more!

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

BOOKS AND RESOURCES

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In this episode, Preston Pysh, Jeff Ross, American Hodl, and Joe Carlasare explore the implications of dollar weakness, overall liquidity, and the impact of Bitcoin bonds.

They break down SBR, SAB 121, and recent legal updates, while also explaining the Supplemental Leverage Ratio (SLR). They also discuss whether tariffs are truly inflationary, MMT’s consequences, and the shift toward re-privatization. Finally, they cover contrarian buy signals for Bitcoin and QQQ, and the broader outlook for the U.S. economy versus global markets.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:06 - Insights into US government spending and economic dependence in 2024.

07:13 - The debate on tariffs and inflation, with a look at Truflation data.

09:27 - Why the dollar’s weakness matters for global markets and liquidity.

10:22 - The role of Bitcoin bonds and what they signal for the crypto market.

11:05 - Why some analysts are bearish on US assets but bullish on global markets.

11:49 - The fiscal challenges facing the US and how they compare to global trends.

17:44 - How the US economy is shifting from MMT-driven policies toward re-privatization.

29:58 - Updates on SAB 121, SBR, and recent regulatory/legal shifts.

35:16 - What the Supplemental Leverage Ratio (SLR) is and why it’s important for banks.

01:03:01 - Major contrarian buy signals for Bitcoin and QQQ based on technical indicators.

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

BOOKS AND RESOURCES

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In this episode, William Green welcomes back Pico Iyer, one of his all-time favorite guests. Pico is a famed author & speaker whose TED talks have been viewed about 12 million times. Here, he discusses his new book, “Aflame,” which explores how to find peace of mind, happiness & clarity amid extreme uncertainty & accelerating change. This episode is a masterclass on creating a richer, wiser, happier life while living by what Warren Buffett calls an inner scorecard.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

04:31 - How to find calm & clarity in the midst of uncertainty & change.

14:39 - How silence helps to “cleanse” our agitated, cluttered minds. 

19:09 - Why Pico Iyer has stayed at a monastery more than 100 times.

28:02 - Why the greatest luxury comes from craving less, not more. 

31:53 - How he designs his life to maximize freedom & fulfillment.

35:50 - Why he loves Warren Buffett’s idea of living by an inner scorecard.

52:41 - How the greatest investors remind Pico of monks.

01:10:28 - How to create more spaciousness in your own busy life. 

01:18:25 - How to achieve more by doing less & taking time to reflect.

01:23:05 - Why it’s helpful to view investing as a game.

01:51:27 - How Leonard Cohen rebounded after losing almost all his money.

01:51:27 - How to maintain hope—& gratitude—in the face of adversity.

01:57:55 - What Pico has learned from his long friendship with the Dalai Lama.

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

BOOKS AND RESOURCES

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Help us reach new listeners by leaving us a rating and review on Spotify! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!

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On today’s episode, Clay is joined by Cristiano Souza to discuss his three primary criteria in identifying an excellent business.

Cristiano Souza is the founder of Zeno Equity Partners, a firm he started in 2022 after spending 28 years at Dynamo. From 1994 through 2015, he was on the team that managed the Dynamo Cougar fund, which invested in high-quality equities in Brazil. During that time, the fund compounded at 24% per year in US dollar terms.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:33 - The three things that Cristiano looks for in a business.

13:43 - What the Founder’s Mindset is, and why it is so difficult to find.

18:53 - Why Cristiano believes that LVMH has a significant opportunity to continue to grow.

33:53 - The mistakes Cristiano has made in assessing management teams.

39:57 - Why Linde PLC is a core position in Christiano’s portfolio.

51:17 - Why AppFolio is well-positioned to continue growing in the property management space.

And so much more!

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

BOOKS AND RESOURCES

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HELP US OUT!

Help us reach new listeners by leaving us a rating and review on Spotify! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

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In this episode, Daniel Batten discusses how Bitcoin is driving advancements in renewable energy, the decentralization of global hash rates and mining pools, and the rise of heat reuse technology. 

Together with Preston, they explore innovations in mining, the potential of zinc recycling and methane capture, the intersection of AI and Bitcoin, and the growing energy demands of the industry.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:35 - Innovations in the mining industry, including zinc recycling and methane landfill use

02:11 - How Bitcoin mining is decentralizing globally and why it matters

02:39 - The role of mining pool distribution in securing the network

03:03 - Why mining pools could pose a vulnerability in Bitcoin’s infrastructure

06:57 - How Bitcoin is disrupting the energy sector just like it disrupted finance

19:55 - The intersection of AI and Bitcoin and what it means for the future

24:43 - Why increasing energy demand for Bitcoin mining isn't necessarily a bad thing

34:05 - The future of heat reuse in Bitcoin mining and the Heatpunk Summit

40:58 - Insights into the "Bitax" and its potential impact on Bitcoin

49:12 - The type of power generation that will likely dominate Bitcoin mining in the future

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

BOOKS AND RESOURCES

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Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

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On today’s episode, Kyle Grieve chats with Adam Wilk about the powers of incremental improvement, what he learned as an NBA scout about finding hidden value, why making the investing process more labour intensive has led to outperformance, the hidden difficulties of identifying quality in small-cap stocks, how to utilize aspects of special situation investments to find hidden compounders, the shared qualities found in Adam’s best investments, and a whole lot more!

Adam Wilk is the Founder and Portfolio Manager of Greystone Capital Management, LLC, leading a concentrated small and micro-cap long-only strategy. With a background in professional sports, including roles as a scout for NBA teams like the Spurs and Rockets, Adam honed skills in talent evaluation, data analysis, and risk management. His passion for value investing began in 2013, inspired by Warren Buffett’s writings, leading to a career pivot and the creation of Greystone. Adam shares his investment insights through research reports and his blog, Pound the Rock Investing. 

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

04:14 - How small bits of incremental progress lead to outsized returns over time.

07:51 - Key insights in finding undervalued assets that he learned from looking for undervalued talent for an NBA team.

10:00 - Why making the investing process labour-intensive creates differentiated insights.

15:48 - Why keeping costs low in a fund decreases sensitivity to market volatility.

19:58 - Why identifying quality in small caps comes with inherent difficulty compared to more discovered businesses.

20:35 - Why change in expectations is such a powerful catalyst.

31:13 - How special situations can cause underappreciation of a quality business and obscure upside.

33:55 - Insights into how to evaluate and underwrite management teams.

35:22 - Some of the biggest lessons Adam learned about management from his greatest investment mistake.

49:28 - The qualities that have shown up in Adam's biggest winners.

And so much more!

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

BOOKS AND RESOURCES

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Help us reach new listeners by leaving us a rating and review on Spotify! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

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