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

TIP808: Current Market Opportunities w/ Daniel Mahncke & Clay Finck

Sun, 19 Apr 2026 00:00:00 -0000

On today's episode, Clay is joined by Daniel Mahncke to discuss the companies they find most interesting in today’s market. They discuss Mercado Libre’s long-term growth potential, Amazon’s expanding earnings power driven by AI and robotics, and how AI could impact Constellation Software and other related companies. They wrap up the discussion by touching on a company that AI is very unlikely to disrupt — Hermès.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro
00:10:08 - Why Mercado Libre continues to grow rapidly despite short-term margin pressure
00:17:19 - How Mercado Libre’s ecosystem creates long-term advantages in e-commerce and fintech
00:25:06 - Why Amazon’s investments in AI and robotics could significantly expand margins
00:23:21 - How AWS and AI infrastructure demand position Amazon for long-term growth
01:07:40 - The real risks AI poses to SaaS and vertical market software businesses
00:40:03 - Why companies like Constellation Software may remain more resilient than investors fear
01:14:20 - Daniel’s thoughts on Hermès after the recent 40% pullback in the stock

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

BOOKS AND RESOURCES

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Join ⁠The Intrinsic Value Conference⁠ in Omaha this May 1, 2026!
Daniel’s model on Hermès.
Related Episode: TIP804: Kinsale Capital Stock Deep Dive w/ Clay Finck & Daniel Mahncke.
Related Episode: TIVP058: Hermes: The Most Prestigious Luxury Brand in the World w/ Daniel Mahncke & Shawn O’Malley.
Related Episode: TIVP060: Constellation Software (CSU): Historic Drawdown, Historic Buying Opportunity w/ Daniel Mahncke & Shawn O’Malley.
Follow Clay on LinkedIn & X.
Follow Daniel on LinkedIn & X.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
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TIP807: Portfolio Review: Analyzing Holdings and Watchlist Companies for 2026 w/ Daniel Mahncke, Shawn O'Malley, & Kyle Grieve

Thu, 16 Apr 2026 00:00:00 -0000

Daniel Mahncke, Shawn O'Malley, and Kyle Grieve take a closer look at the Intrinsic Value Portfolio and some of the high-priority watchlist companies. The episode covers high-conviction portfolio holdings such as Airbnb, Universal Music Group, Reddit, and Exor, as well as watchlist companies like FICO, Trade Desk, and Nintendo. They also cover companies that might need to leave the portfolio today. Candidates are TransDigm and Copart.

For each, the question is the same: what are the key points of the investment thesis, has the thesis held up, and does the current valuation still make sense?

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:05:10 - The key thesis behind Exor 00:16:16 - The key thesis behind TransDigm and our thoughts on Copart 00:33:05 - The key thesis behind Reddit 00:43:54 - The key thesis behind Airbnb 01:01:41 - The key thesis behind Universal Music Group 01:13:54 - Our thoughts on Trade Desk 01:27:42 - Our thoughts on FICO 01:36:40 - Our thoughts on Nintendo

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

BOOKS AND RESOURCES

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Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Join The Intrinsic Value Conference in Omaha this May 1, 2026!
Podcasts: Exor, TransDigm, Copart, Reddit, Airbnb, Universal Music Group, Trade Desk, FICO.
Newsletters: Exor, TransDigm, Copart, Reddit, Airbnb, Universal Music Group, Trade Desk, FICO.
Follow Daniel on X and Linkedin.
Follow Shawn on X and Linkedin.
Follow Kyle on ⁠⁠⁠⁠⁠X⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠.
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RWH067: Prudent Investing In Perilous Times w/ Matthew McLennan

Sun, 12 Apr 2026 00:00:00 -0000

In this episode, William Green talks with Matthew McLennan, who oversees about $130 billion at First Eagle Investments. Matt is head of the firm’s Global Value team & a portfolio manager of its Global Value, Global Equity, International Value, International Equity & US Value strategies. Here, he explores how to build resilient wealth by patiently holding a “non-uniform” portfolio of scarce assets that should endure & prosper even in difficult conditions. This episode provides a time-tested survival strategy for investors looking to navigate this period of extreme uncertainty.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro
00:02:14 - Why Matthew McLennan thinks investors should prepare for turmoil.
00:17:43 - How to construct a resilient portfolio by thinking like a gardener.
00:19:38 - Why Matt loves businesses with scarce assets in mundane industries.
00:23:02 - Why survival is the key to investment success.
00:23:33 - How cash & gold provide a ballast in the event of unexpected storms.
00:26:28 - Why he’s wary of a highly concentrated investment strategy.
00:51:07 - How patience has become a powerful edge in a hyperactive world.
00:57:17 - How to build long-term success by focusing on process, not rewards.
01:05:28 - How to think better by harnessing our right-brain capabilities.
01:23:05 - Why “what’s hot today” is likely to produce terrible investment returns.
01:25:10 - How studying wine & playing backgammon help him as an investor.
01:29:04 - Why he favors a team-based approach, instead of being a lone wolf.

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

BOOKS AND RESOURCES

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Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Inquire about William Green’s ⁠⁠⁠⁠⁠⁠⁠Richer, Wiser, Happier Masterclass⁠⁠⁠⁠⁠⁠⁠.
Thucydides’ book, History of the Peloponnesian War.
Daniel Yergin’s book, The Prize.
John Cochrane’s book, The Fiscal Theory of the Price Level.
Peter Matthiessen’s book, The Snow Leopard.
Iain McGilchrist’s book, The Matter with Things.
David Galenson’s book, Old Masters and Young Geniuses.
Charles de Montesquieu’s book, The Spirit of the Laws.
Stephen Wolfram’s book, A New Kind of Science.
Winston Churchill’s book, My Early Life.
William Green’s book, Richer, Wiser, Happier.
Follow William Green on X.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
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TIP806: Wise PLC w/ Kyle Grieve and Daniel Mahncke

Fri, 10 Apr 2026 00:00:00 -0000

Kyle Grieve is joined by co-host Daniel Mahncke to discuss Wise PLC, a London-listed FinTech company that enables cheap and fast cross-border payments by matching local flows rather than moving money internationally through costly SWIFT networks.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:04:45 - The clever mechanism Wise uses to move money without actually crossing borders 00:09:14 - Why two Estonians at a London party ended up disrupting global banking 00:13:44 - How Wise earns revenue from four streams 00:21:44 - Which of Wise's three competitor industries is the most threatening and why 00:26:04 - How fast payments have become at Wise 00:42:12 - Why deliberately lowering your own prices can be a sign of business strength 01:08:12 - The flywheel that makes Wise harder to beat, the larger it grows 01:10:35 - What to make of the CEO controversy 01:23:51 - How Wise's capital allocation stacks up against Buffett's ultimate litmus test 01:30:26 - What the numbers suggest investors could earn holding Wise

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

BOOKS AND RESOURCES

Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Kyle and Daniel use Fiscal.ai for every company they research — use their referral link to get started with a 15% discount!
Read about cross-border payments 101.
Read more on Wise, featured in Wall Street’s Blind Spots.
Listen to a conversation with Wise’s CEO, Kristo Käärmann.
Follow Kyle on ⁠⁠⁠⁠X⁠⁠⁠⁠ and ⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
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TIP805: Stock Market Maestros w/ Kyle Grieve

Sun, 05 Apr 2026 00:00:00 -0000

Kyle discusses Stock Market Maestros, revealing that elite fund managers succeed not by picking winners the majority of the time, but by making dramatically more on their wins than they lose on their losses. Through profiling world-class fund managers, the book proves that disciplined execution, such as how you size, hold, and exit positions, ultimately matters more than stock selection itself.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:03:43 - The five investor archetypes and why behavior determines investing success 00:06:37 - How three key metrics identify truly skilled investors from lucky ones 00:09:36 - Why a 49% hit rate can still massively outperform the market 00:10:01 - How the best investors make 1.87x more on winners than losers 00:11:06 - Why riding winners longer matters more than finding the next great idea 00:12:59 - How different selling strategies suit different investing styles and timeframes 00:18:20 - Why losers consume disproportionate mental energy relative to portfolio weight 00:32:28 - How small position sizes allow larger losses without destroying overall returns 00:53:04 - Why changing your thesis to fit reality is a major red flag 01:07:40 - Why execution and position sizing matter as much as stock selection

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

BOOKS AND RESOURCES

Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Buy Stock Market Maestros.
Follow Kyle on ⁠⁠⁠X⁠⁠⁠ and ⁠⁠⁠LinkedIn⁠⁠⁠.
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TIP804: Kinsale Capital Stock Deep Dive w/ Clay Finck & Daniel Mahncke

Fri, 03 Apr 2026 00:00:00 -0000

On today's episode, Clay is joined by Daniel Mahncke to break down Kinsale Capital. Kinsale is a specialty insurer that has quietly become one of the most exceptional businesses in the financial sector by dominating the Excess & Surplus insurance market.

Clay and Daniel break down the DNA of this wonderful business, and if the recent drawdown in the stock is a compelling opportunity for value investors.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:03:32 - An overview of the insurance industry and how Kinsale fits into the bigger picture 00:17:32 - The durable competitive advantages that Kinsale has built 00:20:19 - The advantages of keeping underwriting in-house in the Excess & Surplus market 00:35:04 - What is driving Kinsale’s incredibly low combined ratio 00:39:29 - Why it’s focus on the E&S market and smaller accounts is a moat in itself 01:07:25 - Kinsale’s valuation and primary risks to monitor for investors

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

BOOKS AND RESOURCES

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Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Check out The Intrinsic Value Podcast.
Check out The Intrinsic Value Newsletter.
Check out The Intrinsic Value Community.
Related Episode: TIP780: Top Stocks for 2026 w/ Shawn O'Malley, Daniel Mahncke, & Clay Finck.
Follow Clay on LinkedIn & X.
Follow Shawn on LinkedIn & X.
Follow Daniel on LinkedIn & X.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP803: How Economics and Art Shape Better Investors w/ Kyle Grieve

Sun, 29 Mar 2026 00:00:00 -0000

Kyle Grieve discusses key mental models from economics and art and how they apply to investing and decision-making. He explores economic concepts such as scarcity, supply and demand, optimization, specialization, efficiency, competition, and bubbles, illustrating them with real-world business examples. Then he shifts gears to art, examining things such as audience, contrast, framing, and narrative, emphasizing how they shape investor behaviour and decision-making.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro

00:03:22 - How scarcity drives value and luxury brands engineer demand

00:07:40 - Why Costco wins by reducing scarcity and leveraging scale

00:09:03 - How supply and demand influence stock prices and volatility

00:10:53 - Why economic cycles impact nearly all businesses over time

00:12:38 - How COVID reshaped demand across industries and markets

00:14:19 - The risks of cyclical investing and the benefits of steady compounders

00:15:34 - How optimization can backfire in business and biology

00:19:49 - Why specialization has trade-offs and why investing legends often stay generalists

00:29:58 - The tension between competition, monopolies, and market structure

00:35:14 - How bubbles form through demand surges and investor psychology

00:38:45 - Why great management teams leverage audience building to build the right type of shareholder base

00:43:34 - How contrast framing and narrative shape investor decisions

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

BOOKS AND RESOURCES

Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Buy The Great Mental Models Vol. 4 here.
Follow Kyle on ⁠⁠X⁠⁠ and ⁠⁠LinkedIn⁠⁠.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP802: When Genius Was Just Luck: The Go-Go Years w/ Kyle Grieve

Fri, 27 Mar 2026 00:00:00 -0000

In today’s episode, Kyle Grieve discusses the speculative boom of the 1960s “Go-Go Years” as presented in John Brooks’ book, highlighting the dangers of euphoria, leverage, and financial engineering. He explores case studies like Ross Perot, Edward Gilbert, Atlantic Acceptance, and Gerry Tsai to reveal how incentives, momentum, and fraud can distort markets. The episode ultimately emphasizes timeless investing lessons around valuation discipline, skepticism, and aligning incentives with long-term outcomes.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:02:02 - About the Nifty Fifty’s rise and the dangers of extreme valuation multiples 00:03:34 - Why great businesses can still be poor investments at high prices 00:05:07 - About Ross Perot’s EDS and the psychology of ignoring market volatility 00:09:45 - The dangers of leverage through Edward Gilbert’s collapse 00:16:13 - Why sharing stock ideas can create unintended consequences 00:19:32 - How fraud fueled Atlantic Acceptance’s explosive growth 00:29:17 - Why rapid growth without explanation signals potential risk 00:33:28 - Gerry Tsai’s momentum strategy and performance-chasing cycles 00:42:07 - How conglomerates used financial engineering to create illusory value

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

BOOKS AND RESOURCES

Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Buy The Go-Go Years.
Follow Kyle on ⁠X⁠ and ⁠LinkedIn⁠.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP801: Value Investing Meets Venture Capital w/ Kyle Grieve

Sun, 22 Mar 2026 00:00:00 -0000

In today’s episode, Kyle Grieve discusses lessons from venture capital that long-term value investors can apply to improve decision-making. He explores concepts such as power laws, network effects, de-risking investments, and the importance of holding high-potential businesses.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:03:23 - How venture capital power laws shape investing returns and portfolio outcomes 00:06:19 - Why a tiny number of winners dominate most long-term investing results 00:08:41 - Why selling potential power-law winners early can severely damage portfolio performance 00:08:41 - How modest portfolio contributors can evolve into massive long-term winners 00:09:21 - Why accepting losses is the cost of capturing outsized investing returns 00:11:25 - How Moore’s Law and Metcalfe’s Law create powerful technology-driven investment opportunities 00:13:34 - Why investors should scale positions as businesses become progressively de-risked 00:25:41 - How unpopular or overlooked businesses can generate exceptional long-term investment returns 00:32:24 - Why averaging up in strong businesses can outperform traditional value strategies 00:57:06 - How long-horizon arbitrage allows investors to benefit from fundamental business improvement

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

BOOKS AND RESOURCES

Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Buy The Power Law.
Follow Kyle on X and LinkedIn.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP800: Navigating an AI-Driven Market w/ François Rochon

Fri, 20 Mar 2026 00:00:00 -0000

On today's episode, Clay is joined by François Rochon to discuss his 2025 annual letter and the key themes shaping markets in 2025. He also digs into his top holdings, including Constellation Software, Alphabet, and Meta.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:02:18 - François's key takeaways and lessons from 2025 00:03:58- Why François views AI as a revolution on par with the early internet 00:07:04 - The circular investment dynamic in AI infrastructure and what it means for companies like Nvidia 00:11:46 - How Alphabet and Meta are using massive capex spending to both defend and grow their businesses 00:17:52 - Why François believes shares of Constellation Software are cheap despite the AI-driven sell-off in software stocks 00:30:03 - What made Mark Leonard one of François's favorite CEOs 00:42:09 - Why François sold CarMax after 18 years 01:11:29 - The three essential qualities every successful long-term investor must develop

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.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Rochon’s firm: Giverny Capital.
Rochon’s annual letters.
Follow Clay on ⁠⁠X⁠⁠ and ⁠⁠LinkedIn⁠⁠.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP799: The Davis Dynasty w/ Kyle Grieve

Sun, 15 Mar 2026 00:00:00 -0000

Kyle Grieve discusses the remarkable story of the Davis Dynasty, a multi-generational investing family that compounded wealth through discipline, focus, and a deep understanding of insurance businesses. He explores the philosophies of Shelby Davis, his son Shelby Cullom Davis, and his grandson Chris Davis.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:02:44 - How and why Shelby Davis entered investing later in life 00:06:31 - Why frugality shaped Davis’s investing philosophy 00:11:57 - How insurance became Davis’s core compounding engine 00:14:54 - Why stocks beat bonds during inflationary decades 00:17:16 - How Davis utilized leverage 00:20:20 - What the “Davis Double Play” is and how to use it 00:34:58 - Why an early winning track record can be a dangerous thing 00:54:26 - How a few long-held businesses created the Davis dynasty’s wealth

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.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Read The Davis Dynasty.
Follow Kyle on ⁠X⁠ and ⁠LinkedIn⁠.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP798: Nintendo Stock Deep Dive w/ Clay Finck

Fri, 13 Mar 2026 00:00:00 -0000

In this episode, Clay breaks down the fascinating history and business model of Nintendo, one of the most iconic entertainment companies in the world.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:01:58 - How Nintendo evolved from a playing card company into one of the world’s most influential gaming businesses 00:14:13 - How movies, theme parks, and mobile apps help extend Nintendo’s intellectual property 00:22:48 - The strategic shift from one-time console sales to recurring revenue 00:26:21 - Why the Switch 2 could expand Nintendo’s ecosystem 00:29:25 - How the Nintendo Switch transformed the company’s business model and profitability 00:47:00 - Why iconic franchises like Mario, Zelda, and Pokémon form the foundation of Nintendo’s competitive moat 00:52:51 - Whether Nintendo’s current valuation offers an attractive opportunity for long-term investors

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.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
The Intrinsic Value Podcast’s episode on Nintendo.
Crossroads Capital Shareholder Letters.
Follow Clay on ⁠X⁠ and ⁠LinkedIn⁠.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP797: Born To Be Wired w/ Kyle Grieve

Sun, 08 Mar 2026 01:00:00 -0000

Kyle Grieve discusses the life and career of legendary capital allocator John Malone and details the at times complex strategies that helped him compound capital over decades.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro

00:03:55 - How Malone uncovered fraud and took over Jerrold

00:06:20 - Why risk assessment shaped his “what if not” framework

00:09:21 - How he chose TCI over higher-paying offers

00:11:29 - Creative leverage strategies to survive heavy debt

00:13:23 - Why EBITDA helped reframe TCI’s cash economics

00:55:17 - How clustering acquisitions built regional cable dominance

00:18:51 - The Liberty Media spinoff and tax-efficient structuring

00:44:06 - Asymmetric bets that created massive upside for shareholders

00:34:34 - Lessons from disruption and Netflix’s streaming threat

00:48:54 - Malone’s thoughts on leadership, decentralization, and long-term capital allocation

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.
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Buy Born To Be Wired here.
Listen to my episode on the Cable Cowboys here.
Follow Kyle on Twitter and LinkedIn.
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TIP796: Die with Zero & Linde Stock Analysis w/ Clay Finck

Fri, 06 Mar 2026 01:00:00 -0000

Clay explores Bill Perkins’ book Die with Zero, which challenges the traditional mindset of accumulating wealth at all costs and instead encourages readers to think more intentionally about how and when they spend their money. In the second segment, Clay shifts gears to analyze Linde PLC, the global industrial gas powerhouse. He explains why Linde may represent an attractive opportunity in today’s market.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:02:40 - Why optimizing for life experiences may matter more than maximizing net worth 00:23:56 - Why you should consider giving money to your kids earlier in life rather than later 00:27:28 - The tradeoff between compounding money and compounding memories 00:31:26 - The concept of time-bucketing your life to maximize fulfillment 00:35:42 - An overview of Linde PLC’s business and its strong competitive position 00:46:56 - Why Linde is an attractive opportunity to consider with AI disrupting so many different industries

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

BOOKS AND RESOURCES

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Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Bill Perkins’ book: Die with Zero.
Follow Clay on X and LinkedIn.
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TIP795: Berkshire, Moody's, & BellRing Brands w/ Stig Brodersen, Tobias Carlisle, and Hari Ramachandra

Sun, 01 Mar 2026 01:00:00 -0000

Stig is joined by Tobias Carlisle and Hari Ramachandra for a new round of stock pitches. They discuss Berkshire, Moody's and BellRing Brands.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro

00:02:35 - Stig’s bull case for Berkshire: balance sheet, culture, and Greg Abel (NYSE: BRK.B)

00:27:09 - Berkshire bear case: slowing growth and capital allocation risks

00:30:47 - Tobias’ bull case for BellRing: FCF, protein brand strength, PE appeal (NYSE: BRBR)

00:38:30 - BellRing bear case: concentration, leverage, consumer shifts

00:47:02 - Hari’s bull case for Moody’s: moat, duopoly, recurring analytics (NYSE: MCO)

00:50:20 - Moody’s bear case: valuation, cyclicality, regulation, AI risk

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.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Stig Brodersen’s Portfolio and Track record.
Check out Mastermind Discussion Q4, 2025 | Video.
Check out Mastermind Discussion Q3 2025⁠ | Video⁠.
Check out Mastermind Discussion Q2 2025 ⁠| Video⁠.
Check out Mastermind Discussion Q1 2025⁠ | Video.
Tobias' podcast, The Acquirers Podcast.
Tobias ' ETF, ZIG.
Tobias' ETF, Deep.
Tweet to Tobias Carlisle.
Hari's Blog.
Tweet to Hari.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
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TIP794: Keynes And The Markets w/ Kyle Grieve

Fri, 27 Feb 2026 01:00:00 -0000

Kyle discusses the investing evolution of John Maynard Keynes and the timeless lessons modern investors can draw from his successes and failures.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:03:50 - Why John Maynard Keynes is such a fascinating case study in evolving as an investor 00:08:28 - A key resource that helped him think of assets from a bottom-up approach 00:10:59 - Why Keynes's experiences of going broke multiple times helped shape him into a long-term thinker 00:17:13 - How he thought about speculation and investing, and used that to beat the market 00:28:16 - How he improved his temperament, overcame overconfidence, and adopted a long-term mindset 00:36:21 - His thoughts on diversification and reducing risk 00:41:30 - Why he believed that markets were social systems, and the errors that exposed investors to 00:50:25 - What he thought about short-term volatility 01:01:16 - Why Keynes used adaptability as such a powerful tool 01:03:50 - Six impactful takeaways

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.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Read ⁠Keynes and the Market⁠.
Read ⁠Concentrated Investing⁠.
Follow Kyle on ⁠X⁠ and ⁠LinkedIn⁠.
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Programming Update Regarding Bitcoin Fundamentals and Infinite Tech

Wed, 25 Feb 2026 01:00:00 -0000

We will temporarily pause new episodes of both shows. In the meantime, we encourage you to check out our other shows in this feed, including The Investor's Podcast and Richer, Wiser, Happier. Thank you for your continued support. We will provide updates as appropriate.

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RWH066: Essential Truths w/ Howard Marks, Nima Shayegh & William Green

Sun, 22 Feb 2026 01:00:00 -0000

William Green highlights essential truths about investing, business & life that emerged from two of his favorite interviews with Howard Marks and Nima Shayegh. This episode also explores powerful lessons on resilience from Bill Miller & Epictetus. IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:04:31 - How investing legend Howard Marks views the euphoria over AI 00:11:10 - What potential mistakes he warns against in this environment 00:13:23 - What essential lessons William Green has learned from Howard 00:23:00 - How Howard keeps an even keel amid extreme uncertainty 00:26:09 - Why Howard, like Einstein, doesn’t think much about the future 00:34:19 - Why investing early & not “tampering” is the key to success 00:38:39 - How Nima Shayegh looks beyond numbers to find great stocks 00:44:19 - How to harness intuition & emotion in the investment process 00:49:13 - How products from Tesla & Amazon inspire “blown-awayness” 00:57:10 - What Nima learned from his famed mentor, Lou Simpson 01:04:38 - How Lou’s success was built on humility 01:19:55 - How Lou & Nima inspire William’s yearning for a spacious life 01:23:56 - How to handle suffering with help from Bill Miller & Epictetus

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.
Inquire about William Green’s ⁠⁠⁠⁠⁠⁠Richer, Wiser, Happier Masterclass⁠⁠⁠⁠⁠⁠.
Howard Marks’ Memos: The Complete Collection.
Edward Chancellor's Devil Take the Hindmost.
Allen Benello, Michael van Biema, Tobias Carlisle's ⁠Concentrated Investing.⁠
William Green’s podcast interview with Howard Marks.
William Green’s podcast interview with Nima Shayegh.
William Green’s book, ⁠⁠Richer, Wiser, Happier⁠⁠.
Follow William Green on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠X⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
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TIP793: Thinking Fast & Slow by Daniel Kahneman w/ Clay Finck

Fri, 20 Feb 2026 01:00:00 -0000

Clay explores Daniel Kahneman’s book Thinking, Fast and Slow, unpacking the cognitive biases that quietly shape our investment decisions. While markets often appear to be driven by data and logic, our decisions are frequently influenced by intuition, emotions, and mental shortcuts we don’t even realize we’re using.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:04:15 - Why temperament matters more than IQ in investing 00:11:10 - The difference between System 1 and System 2 thinking 00:16:01 - How cognitive substitution leads investors to answer the wrong questions and unknowingly ignore the more important questions 00:38:08 - How loss aversion shapes investor behavior during drawdowns and market volatility 00:54:01 - Clay’s updated views on Constellation Software

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.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Daniel Kahneman’s book: Thinking Fast & Slow.
Sequoia Fund’s 2025 year-end letter.
Follow Clay on ⁠⁠X⁠⁠ and ⁠⁠LinkedIn⁠⁠.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
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TECH015: OpenClaw and Self-Sovereign AI w/ Alex Gladstein and Justin Moon (Tech Podcast)

Wed, 18 Feb 2026 01:00:00 -0000

Alex Gladstein and Justin Moon break down the fundamentals of large language models and explore the rise of OpenClaw as a self-sovereign AI assistant.

Justin explains context engineering, local inference, and vibe coding, while Alex dives into the AI for Individual Rights program and its mission to empower activists.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro 00:04:12 - What Large Language Models (LLMs) are and how they differ from traditional programs 00:05:15 - Why AI feels like magic—and what’s really happening under the hood 00:06:01 - The key differences between open and closed AI models 00:06:50 - Why capital structures influence AI model openness 00:09:09 - How persistent memory enhances AI agent performance 00:12:18 - What inference means and why context is a scarce resource 00:19:32 - How AI agents combine traditional software with LLM reasoning 00:21:10 - The evolution from MCP-style systems to skills-based context engineering 00:25:41 - What “vibe coding” is and how it lowers the barrier to building apps 00:44:07 - How the AI for Individual Rights program supports activist-driven innovation

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

BOOKS AND RESOURCES

Oslo Freedom Forum: Website.
Justin: Nostr account.
Related episode: Is AGI Here? Clawdbot, Local AI Agent Swarms w/ Pablo Fernandez & Trey Sellers.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
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TIP792: Vital Lessons From History’s Strangest Financial Stories w/ Kyle Grieve

Sun, 15 Feb 2026 01:00:00 -0000

Kyle Grieve discusses how a series of unforgettable real-world stories reveal the hidden psychological traps that derail investors.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro

00:03:07 - How Ronaldo’s Coke incident reveals the danger of false cause and effect

00:07:44 - Why patience in investing can beat the urge to stay busy

00:09:21 - How Muhammad Ali showed the power of waiting for the perfect moment

00:12:54 - Why Bobby Bonilla’s contract exposes the time value of money

00:16:02 - How the Madoff scandal proves great results can hide massive fraud

00:22:09 - Why Isaac Newton’s failure reveals how FOMO traps even the smartest minds

00:27:17 - How Hetty Green shows the strength of buying value when others won’t

00:36:23 - What the long SPAC history warns us about hype repeating through time

00:47:33 - How relying on autopilot in markets can quietly lead you into danger

00:52:06 - Why inflation acts like a silent force pushing your spending power backward

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.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Read Trailblazers, Heroes, & Crooks: Stories to Make You a Smarter Investor here.
Follow Kyle on Twitter and LinkedIn.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
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TIP791: Best Quality Stock Idea Q1 2026 w/ Clay Finck

Fri, 13 Feb 2026 01:00:00 -0000

Clay breaks down his best quality stock idea for Q1 2026: Visa.

Visa is a global payments network that operates as a toll booth on commerce. Visa is one of the most durable and capital-light business models in the world.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:02:48 - How Visa fits into Dev Kantesaria’s investing strategy 00:08:55 - The history of how Visa became the giant, ubiquitous network we all know of today 00:12:21 - Visa’s role as an information network that avoids all card issuance and lending risk 00:25:08 - A side-by-side comparison of Visa versus its primary competitors, Mastercard and American Express 00:29:40 - The future of the $200 trillion dollar "New Flows" market and the rise of AI-driven agentic commerce 00:34:41 - An analysis of Visa’s pristine financial profile, featuring 60% operating margins and low capital intensity 00:46:54 - A look at valuation level, the primary risks, and 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.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠.
The Intrinsic Value Podcast’s episode on Visa.
Related Episode TIP768: Best Quality Idea Q4 2025.
Related Episode TIP745: Best Quality Idea Q3 2025.
Follow Clay on ⁠X⁠ and ⁠LinkedIn⁠.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
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BTC259: Bitcoin & Theoretical Physics w/ Jeff Booth, Jack & Nick (Bitcoin Podcast)

Wed, 11 Feb 2026 01:00:00 -0000

Jeff Booth, Jack, and Nick explore a year-long paper linking Bitcoin to fundamental physics, framing Bitcoin blocks as discrete, quantized units of time. They connect concepts from quantum mechanics and entropy to Bitcoin’s design, argue that its finite, discrete structure may be incompatible with quantum computing threats, and close with plans to experimentally test a Bitcoin miner’s interaction with zero-point energy in a physics lab in Chamonix.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro

00:02:46 - Bitcoin blocks as quantized units of time challenging the continuous-time assumption in modern physics

00:07:26 - The self-referential problem of time in physics and why time cannot be tested outside of itself

00:13:34 - Parallels between Bitcoin’s mempool and quantum superposition as pre-measurement potential states

00:14:43 - How Bitcoin’s UTXO model separates measurement from observation in a way physics cannot

00:31:13 - Bridging Boltzmann entropy and Shannon entropy through Bitcoin’s finite state space and mining process

00:37:47 - Bitcoin’s 21 million supply cap as a physical boundary analogous to Planck temperature

00:42:26 - Why Bitcoin’s discrete time model may be fundamentally incompatible with quantum computing attacks

01:02:32 - Plans to test a Bitcoin miner’s interaction with zero-point energy at a physics lab in Chamonix

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

BOOKS AND RESOURCES

⁠Jack and Nick's paper: Bitcoin - The Architecture of Time.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
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TIP790: Wealth Beyond Money w/ Thomas Mueller-Borja

Sun, 08 Feb 2026 01:00:00 -0000

In this episode, Stig Brodersen speaks with Thomas Mueller-Borja, the Global Co-Head of Real Estate and Global CIO for Value-Add Real Estate at BlackRock. They explore how great investors define games they can win, balance ambition with contentment, and build high-quality relationships.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:02:22 - What happens when BlackRock raises and deploys billions of dollars 00:29:31 - How the public debt situation across the developed world may influence your investment framework 00:46:47 - How to build high-quality relationships 01:04:03 - How to define and win the right games 01:10:11 - How to balance honesty and kindness 01:17:17 - Frameworks for choosing the bigger 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, Kyle, and the other community members.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠.
Guy Spier’s interview with Thomas Borja-Mueller.
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TIP789: The Story of Uber w/ Clay Finck

Fri, 06 Feb 2026 01:00:00 -0000

In this episode, Clay tells the story of Uber. Uber started as a simple idea, and evolved into one of the most disruptive companies of the modern era. Drawing from Brad Stone’s The Upstarts, the episode explores Uber’s early days, its global expansion, and the never-ending battles with regulators, competitors, and the taxi industry.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:01:42 - How Uber went from a simple idea in San Francisco to a global transportation platform in under a decade 00:03:58 - Why the taxi industry was ripe for disruption and how regulation shaped Uber’s early strategy 00:31:08 - The role venture capital, aggressive expansion, and competition played in Uber’s rise 00:39:41 - How network effects, data, and dynamic pricing powered Uber’s growth flywheel 01:00:42 - How Uber’s business model and moat evolved over time 01:15:54 - Why leadership style and company culture became both a strength and a liability as Uber scaled

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.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠.
Brad Stone’s book: The Upstarts.
Stig Brodersen’s Uber pitch.
Shawn O’Malley’s Uber pitch.
Bill Ackman’s 2024 Annual Letter.
Follow Clay on X and LinkedIn.
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TECH014: Is AGI Here? Clawdbot, Local AI Agent Swarms w/ Pablo Fernandez & Trey Sellers (Tech Podcast)

Wed, 04 Feb 2026 01:00:00 -0000

Preston, Trey, and Pablo unpack the evolution of AI from agentic capabilities and decentralized systems to practical open-source tools like Clawdbot.

They examine AI’s potential, security risks, personalized workflows, and its societal impact. With candid stories and real use cases, this episode offers a rare look into AI's current frontier and what lies ahead.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro

00:06:11 - What agentic AI is and how it differs from traditional chatbots

00:07:27 - Why decentralization matters in AI development

00:10:06 - How open-source AI models like Clawdbot enable innovation

00:10:32 - How running AI locally differs from cloud-based models in security and control

00:11:19 - How persistent memory impacts AI behavior and risk

00:12:39 - Ways AI agents collaborate like teams in an organization

00:14:08 - The role of sovereignty and privacy in AI communications

00:15:42 - How Trey and Pablo initialize and manage specialized AI agents

00:17:15 - The risks of AI with access to personal data and how to mitigate them

00:23:09 - The potential of AI to innovate beyond human expectations

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

BOOKS AND RESOURCES

Pablo on Nostr.
Trey's newsletter and podcast: Fire BTC.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
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TIP788: Simple Investing w/ David Fagan

Sun, 01 Feb 2026 01:00:00 -0000

Stig Brodersen speaks with David Fagan about the case for indexing and what most investors get wrong about performance, financial advisors, and risk. They explore why missing a few percentage points can delay retirement by years, how to think about rebalancing, and what it truly means to be the overseer of your investments.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro

00:01:57 - Why indexing works for almost everyone

00:12:49 - How to properly evaluate investment performance

00:24:58 - How to think about asset allocation and rebalancing using a simple, behaviorally sound framework

00:33:42 - What it really means to be the overseer of your investments, even if you outsource management

00:36:21 - Why missing just a few percentage points in returns can cost you years of your life

00:36:42 - Why missing 3% return means having to work another 6–7 years instead of retiring

00:44:13 - How to use expectations in the best possible way

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.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠.
Listen to our interview with David Fagan about investing like a business owner.
Listen to our interview with David Fagan about Buffett’s favorite business book.
Stig’s ⁠blog post⁠ on his portfolio and track record since 2014.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
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TIP787: The 5 Types Of Wealth w/ Kyle Grieve

Fri, 30 Jan 2026 01:00:00 -0000

Kyle Grieve discusses a refreshingly different take on wealth inspired by The Five Types of Wealth by Sahil Bloom. Rather than focusing solely on money, the conversation explores a more holistic framework that includes time, relationships, health, purpose, and financial independence.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:02:15 - Why you should reframe wealth beyond asset accumulation 00:04:33 - How wealth is built during life, not after reaching a destination 00:04:49 - The five types of wealth and how they shape a fulfilling life 00:07:02 - How defining personal identity clarifies long-term decisions 00:07:57 - Why goals and anti-goals protect success and relationships 00:10:40 - How time wealth depends on awareness, attention, and control 00:17:45 - Why relationships are the strongest predictor of happiness and health 00:36:01 - How curiosity and purpose can drive mental wealth 00:51:27 - Why physical wealth is easy to overlook 00:57:00 - How defining enough creates financial wealth

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.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠.
Buy The Five Types of Wealth here.
Follow Kyle on X and LinkedIn.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
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TECH013: Monthly Tech Round-up - Davos WEF, Claude Cowork, Macrohard, w/ Seb Bunney (Tech Podcast)

Wed, 28 Jan 2026 01:00:00 -0000

Seb and Preston explore the rapid evolution of AI, its role in reshaping work, communication, and biology. They discuss tools like Claude Co-Work, delve into the implications of AI relationships, blockchain integration, and breakthroughs in longevity science. With insights from personal experiments and global trends, they paint a vivid picture of the AI-powered future.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro

00:01:58 - What Elon Musk and tech leaders are saying about AI and the future

00:04:33 - Why time feels like it’s accelerating in today’s tech-driven society

00:05:09 - How AI tools like CoWork outperform others in coding and organization tasks

00:16:15 - How note-taking AI is transforming productivity and book writing

00:17:36 - How AI could power one-person billion-dollar startups

00:18:19 - The significance of Claude’s ethical framework in guiding AI decisions

00:19:27 - The ethical concerns of forming relationships with AI

00:37:03 - How energy-efficient communication protocols can reshape AI infrastructure

00:45:26 - Why legal recognition is essential for real blockchain-based equities

00:54:36 - How stem cell therapies may move medicine toward curing rather than managing disease

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

BOOKS AND RESOURCES

Official Website: ⁠Seb Bunney⁠.
Seb’s book: ⁠The Hidden Cost of Money⁠.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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RWH065: Joyful Excellence w/ Brad Stulberg

Sun, 25 Jan 2026 01:00:00 -0000

William Green welcomes back bestselling author Brad Stulberg to chat about his new book, The Way of Excellence: A Guide to True Greatness & Deep Satisfaction in a Chaotic World. IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro 00:01:27 - How Brad Stulberg became obsessed with the pursuit of excellence 00:18:49 - Why excellence requires a combination of guts & vulnerability 00:22:51 - How “algorithmic mass distraction” blocks us from a life of excellence 00:30:10 - Why the best performers lead lives that often look mundane & boring 00:38:00 - How to identify your core values & align your career with them 00:42:22 - How we drive ourselves crazy pursuing the illusion of balance 00:53:18 - Why periods of rest & renewal are integral to success & creativity 01:07:30 - Why the key to greatness is consistency—especially on bad days 01:13:43 - Why excelling at hard things requires “fierce self-kindness” 01:21:19 - How Brad structures his daily, weekly & monthly routines 01:25:33 - What he’s learned about deep work from his friend Cal Newport 01:28:51 - How to create a physical environment that supports good habits 01:37:36 - How to work with intensity & joy & to become a “humble badass”

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.
Inquire about William Green’s ⁠⁠⁠⁠⁠Richer, Wiser, Happier Masterclass⁠⁠⁠⁠⁠.
Brad’s website.
Brad’s podcast.
Brad's The Way of Excellence.
Brad's Master of Change & The Practice of Groundedness.
Robert Pirsig's Zen & the Art of Motorcycle Maintenance, Lila & On Quality.
Cal Newport's Deep Work.
George Saunders' Lincoln in the Bardo.
William Green’s previous podcast with Brad Stulberg.
William Green’s book, ⁠Richer, Wiser, Happier⁠.
Follow William Green on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠X⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Related ⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP786: Zero to One by Peter Thiel

Fri, 23 Jan 2026 01:00:00 -0000

In this episode, Clay explores Zero to One by Peter Thiel, a foundational book on innovation, monopolies, and what it truly takes to build an enduring business. Thiel challenges the idea that progress comes from incremental improvement, arguing instead that the greatest companies are created by going from zero to one, building something entirely new and escaping competition altogether.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:04:18- What it means for a company to go from zero to one and why true innovation creates outsized value 00:11:35 - Why competition often destroys profits, while monopolies enable long-term value creation 00:13:04 - How to distinguish between creating value and capturing value as an investor 00:15:27 - The key characteristics that allow businesses to build and sustain monopolies 00:38:30 - Why small, focused markets are often the best starting point for building dominant companies 00:54:01 - How Peter Thiel’s framework applies to modern businesses like Uber

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.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠.
Peter Thiel’s book: ⁠Zero to One⁠.
Stig Brodersen’s ⁠Uber pitch⁠.
Shawn O’Malley’s ⁠Uber pitch⁠.
Bill Ackman’s ⁠2024 Annual Letter⁠.
Follow Clay on ⁠⁠⁠X⁠⁠⁠ and ⁠⁠⁠LinkedIn⁠⁠⁠.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
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BTC258: Clarity Act, Bitcoin AI Education, and Payments w/ Parker Lewis (Bitcoin Podcast)

Wed, 21 Jan 2026 01:00:00 -0000

Parker and Preston explore the implications of the Clarity Act on Bitcoin's legal protections and public understanding. They examine how AI could both distract from and inform Bitcoin adoption, unpack the foundational economic value of Bitcoin, and delve into the "ribeye index" as a real-world inflation measure.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro

00:01:19 – Why the Clarity Act may pose risks to Bitcoin developers and self-custody 00:08:21 – How Texas is strategically investing in Bitcoin 00:13:26 – How AI could both mislead and inform the public on Bitcoin 00:21:43 – The economic interplay between AI and Bitcoin energy consumption 00:24:49 – Three core reasons behind Bitcoin’s long-term opportunity 00:29:56 – Why Bitcoin’s success is viewed as binary and what that means 00:35:16 – What the "ribeye index" reveals about real inflation 00:39:52 – Why understanding Bitcoin is crucial to protecting against hyperinflation 00:40:35 – The relationship between changing health perceptions and financial awakening 00:51:10 – How accepting Bitcoin as payment reflects deeper conviction in its value

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

BOOKS AND RESOURCES

Parker’s book: Gradually, Then Suddenly.
Bitcoin is the Greatest Asymmetry.
Zaprite.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
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TIP785: My Reflections on Money, Life, and Happiness w/ Stig Brodersen

Sun, 18 Jan 2026 01:00:00 -0000

In this episode, Stig Brodersen shares personal reflections on money, life, and happiness. He explores how money magnifies who we already are, why lifestyle creep can quietly erode happiness, and how growing wealth may change relationships.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:01:13 - Why money magnifies who you are 00:02:42 - How to think about lifestyle creeps and incremental happiness 00:10:02 - Why you shouldn’t try to change others 00:14:47 - Why you should be around people who play cricket 00:22:58 - Why you can have anything but not everything 00:27:29 - Why you should lean into your unfair advantage 00:32:12 - Some welcome and uncoming surprises of wealth 00:50:25 - Why you should be useful

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.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠here⁠⁠⁠⁠.
Stig’s blog post on his portfolio and track record since 2014.
Stig’s podcast episode on his journey into financial independence.
Stig’s podcast episode on his advice to his 20-year old self.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
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TIP784: History's Biggest Market Bubbles w/ Clay Finck

Fri, 16 Jan 2026 01:00:00 -0000

In this episode, Clay reviews Devil Take the Hindmost by Edward Chancellor and explores three of the most infamous market bubbles in financial history: the South Sea Bubble of 1720, the Railway Mania of 1845, and Japan’s asset bubble of the late 1980s.

These case studies examine how greed, leverage, speculation, and misplaced faith in government or institutions repeatedly led investors to abandon fundamentals.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:01:59 - Why financial bubbles repeat throughout history despite changing technologies and markets 00:03:14 - The key psychological forces that drive speculative manias 00:04:47 - How speculation differs from long-term investing, and where the line often gets crossed 00:25:25 - The role governments, institutions, and incentives play in fueling bubbles 00:34:35 - Why leverage amplifies both gains and losses during periods of extreme speculation 01:03:44 - Key lessons from history’s biggest bubbles 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.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠here⁠⁠⁠.
Edward Chancellor’s book: Devil Take the Hindmost.
Related Episode TIP729: Mastering the Capital Cycle w/ Clay Finck.
Follow Clay on ⁠X⁠ and ⁠LinkedIn⁠.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
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SPONSORS

Support our free podcast by supporting our ⁠⁠⁠⁠⁠⁠sponsors⁠⁠⁠⁠⁠⁠:

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BTC257: Bitcoin Mastermind Q1 2026 w/ Jeff Ross, Joe Carlasare, and American HODL (Bitcoin Podcast)

Wed, 14 Jan 2026 01:00:00 -0000

The Bitcoin mastermind group explores geopolitical tensions, including a potential U.S. response to Taiwan's defense and Venezuela’s strategic oil reserves. They analyze the revolutionary impact of AI on economic models, employment, and national security, while diving into crypto regulation, Bitcoin predictions, and market dynamics. A mix of serious insights and entertaining AI-generated music rounds out the session.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro

00:00:03 - Why the Venezuela raid could signify a new global power alignment

00:00:20 - The debate on whether the U.S. would defend Taiwan from a Chinese invasion

00:05:02 - Strategic importance of semiconductors in global power dynamics

00:17:58 - Elon Musk’s prediction about deflation and AI-driven economies

00:32:04 - Insights from Microsoft’s AI Economy Institute on global AI adoption

00:37:10 - How AI could disrupt white-collar work and content credibility

00:41:03 - Forecasts on Bitcoin’s price trajectory through 2026

00:44:07 - The Clarity Act’s potential impact on stablecoins and crypto markets

00:53:39 - How treasury yields, Powell investigations, and Bitcoin interconnect

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

BOOKS AND RESOURCES

Related Episode: ⁠⁠Bitcoin Mastermind Q3 2025⁠⁠.
Related Episode: ⁠⁠⁠Bitcoin Mastermind Q2 2025.
American Hodl on Nostr.
Jeff Ross on Nostr.
Joe Carlasare on X (Twitter), Nostr.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
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Support our free podcast by supporting our ⁠⁠sponsors⁠⁠:

References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.

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TIP783: What the Market Missed: Prem Watsa and One of the Greatest Records in Business w/ Kyle Grieve

Sun, 11 Jan 2026 01:00:00 -0000

Kyle Grieve breaks down how Prem Watsa and Fairfax Financial compounded for decades through disciplined value investing, insurance float, and resilient capital allocation.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 – Intro

00:03:29 – How Prem Watsa accidentally found investing and never looked back

00:07:48 – Why insurance float became Fairfax’s secret compounding weapon

00:09:43 – The exact thinking that shaped Fairfax’s long-term value discipline

00:10:02 – How Fairfax set bold targets and held itself publicly accountable

00:13:27 – Why cheap businesses taught painful but critical quality lessons

00:23:53 – How downturns and mistakes strengthened Fairfax’s balance sheet mindset

00:18:18 – What the short seller siege revealed about culture and conviction

00:24:47 – How crisis hedging created survival capital and massive opportunity

00:28:46 – Why overprotection hurt returns and forced strategic humility

00:37:25 – How culture decentralization and capital allocation became Fairfax’s moat

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.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠here⁠⁠⁠.
Buy The Fairfax Way here.
Listen to TIP772, How Great Compounders Turn Time Into A Superpower here.
Follow Kyle on Twitter and LinkedIn.
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TIP782: The Search for Mispriced Stocks w/ Clay Finck

Fri, 09 Jan 2026 01:00:00 -0000

In this episode, Clay reviews the book Hidden Investment Treasures by Daniel Gladiš and explores how the rise of passive investing has created growing inefficiencies in today’s market.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:02:37 - How the rise of passive investing has weakened the price discovery process 00:07:38 - Why price and value often diverge in overlooked parts of the market 00:15:37 - Why today’s market environment may be especially favorable for disciplined value investors 00:23:53 - Why paying the right price matters more than forecasting short-term market movements 00:29:43 - How capital allocation, balance sheet strength, and management quality reduce investment risk over time 00:59:33 - Key lessons from real-world case studies, including Markel, NVR, Japanese equities, and banks

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.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠here⁠⁠.
Daniel Gladiš’s book: Hidden Investment Treasures.
Learn more about Gladiš’s firm: The Vltava Fund.
Check out the Made in Japan Substack.
Related Episode TIP758: Current Market Conditions & Investment Opportunities w/ Derek Pilecki.
Follow Clay on X and LinkedIn.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
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TECH012: Monthly Tech Roundup – Data Centers in Space, AI5 Chip, Tesla vs. Waymo w/ Seb Bunney (Tech Podcast)

Wed, 07 Jan 2026 01:00:00 -0000

Preston and Seb unpack AI’s implications for safety, governance, and economics. They debate AGI risks, corporate centralization, Bitcoin's regulatory role, and Elon Musk’s ventures in space and autonomous tech.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro 00:04:37 - Why AI safety and autonomy are increasingly at odds
00:11:30 - How AGI could reshape governance and policy-making
00:07:40 - Preston’s skepticism about AI self-preservation claims
00:15:18 - The unintended consequences of AI regulation
00:22:15 - How Bitcoin could hold corporations accountable
00:20:10 - The dangers of centralizing economic power via AI
00:34:45 - Why generalist thinking matters in a post-pandemic world
00:37:20 - The role of curiosity and deep reading in future-proofing
00:41:59 - How SpaceX is redefining launch economics with reusable rockets
00:57:41 - The hidden potential of Tesla’s AI chips and compute power

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

BOOKS AND RESOURCES

Clip 1: AI Expert: We Have 2 Years Before Everything Changes! We Need To Start Protesting! with Tristan Harris.
Clip 2: Marc Andreessen explains the future belongs to generalists in the AI era.
Clip 3: Elon Musk on the Future of SpaceX & Mars.
Official Website: Seb Bunney.
Seb’s book: The Hidden Cost of Money.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP781: My Portfolio & Current Market Conditions w/ Clay Finck & Stig Brodersen

Sun, 04 Jan 2026 01:00:00 -0000

In this episode, Stig Brodersen sits down with Clay Finck to reflect on Clay’s portfolio decisions, investment philosophy, and personal evolution as an investor. Clay walks through the rationale behind recent additions to his portfolio, how his thinking on valuation versus quality has matured, and why he increasingly prioritizes businesses led by exceptional operators with long runways for compounding.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro

00:01:48 - Which stocks Clay added to his portfolio in 2025

00:03:10 - How “sidecar investing” with exceptional founder-operators shapes Clay’s portfolio

00:19:34 - How short-term market narratives can diverge from changes in intrinsic value

00:26:24 - How Clay approaches position sizing, opportunity cost, and staying invested

00:14:27 - Why geography, currency risk, and capital flows matter in global investing

00:41:52 - How value investing principles influence Clay’s views on money, career, and happiness

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.
Learn how to join us in Omaha for the Berkshire meeting ⁠here⁠.
Clay Finck’s investment philosophy.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
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TIP780: Top Stocks for 2026 w/ Shawn O'Malley, Daniel Mahncke, & Clay Finck

Fri, 02 Jan 2026 01:00:00 -0000

Clay is joined by Shawn O’Malley and Daniel Mahncke to share their top stock ideas for 2026. Shawn is pitching Exor N.V. ($EXO), Daniel is pitching Mercado Libre ($MELI), and Clay is pitching Meta ($META).

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:01:40 - Why Shawn is bullish on Exor NV 00:04:58 - Why Exor trades at a 60% discount to net asset value 00:11:22 - An assessment of Exor’s management team 00:39:57 - Why Daniel is bullish on Mercado Libre 00:49:49 - An overview of the competitive landscape for MELI 01:08:57 - Why Clay is bullish on Meta

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.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠here⁠⁠.
Check out The Intrinsic Value Podcast.
Check out The Intrinsic Value Newsletter.
Check out The Intrinsic Value Community.
Related Episode: TIVP050: Portfolio Review: Performance & New Positions.
Follow Clay on ⁠⁠LinkedIn⁠⁠ & ⁠⁠X⁠⁠.
Follow Shawn on LinkedIn & X.
Follow Daniel on LinkedIn & X.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
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TECH011: The History of AI and Chatbots w/ Dr. Richard Wallace (Tech Podcast)

Wed, 31 Dec 2025 01:00:00 -0000

Dr. Richard Wallace, creator of ALICE and AIML, shares his journey from 1990s chatbot innovation to today’s AI frontiers.

He and Preston also explore AI’s learning methods, human vs machine intelligence, and the evolving role of creativity in artificial minds.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro

00:02:46 - How a 1990 New York Times article inspired Richard Wallace’s AI journey

00:03:42 - What made the ALICE chatbot revolutionary in its time

00:07:20 - The principles behind minimalist robotics and their influence on AI

00:12:00 - How AIML works and why it was crucial to early chatbot success

00:16:30 - The contrast between supervised and unsupervised learning methods

00:17:20 - Why LLM decision-making processes remain hard to interpret

00:20:33 - How humans and chatbots use language in surprisingly robotic ways

00:24:43 - The philosophical roots of the Turing Test and its modern critiques

00:40:19 - Insights on combining symbolic and neural approaches in AI today

00:41:18 - What Wallace is working on now at Franz in medical AI predictions

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

BOOKS AND RESOURCES

The platform behind ALICE: Pandorabots.com.
Website: Franz.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP779: Richer, Wiser, Happier Q4 2025 w/ Stig Brodersen & William Green

Sun, 28 Dec 2025 01:00:00 -0000

Each quarter, Stig Brodersen sits down with his friend and co-host William Green, author of Richer, Wiser, Happier. Together, they explore the ideas, stories, and timeless principles from the power of the subconscious mind to the universal human longing for appreciation, love, and meaning. This conversation invites you to slow down, reflect, and reconnect with what matters most. IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:05:49 - How to tap into your subconscious mind through a flow state 00:17:12 - How and why Arnold Van Den Berg hypnotized William to prime him for success 00:52:33 - How to show gratitude in a world full of confusion and anger 01:12:08 - Whether we all want the same things in life, including respect, appreciation, love, and independence 01:36:51 - Why you should treat adversity as a gift to behave well

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.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
William Green’s book Richer, Wiser, Happier.
William’s ⁠⁠episode with Arnold Van Den Berg⁠⁠ about how to thrive no matter what.
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TIP778: How My Thinking About Investing Evolved in 2025 w/ Kyle Grieve

Fri, 26 Dec 2025 01:00:00 -0000

Kyle discusses the most important investing lessons he learned in 2025. IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:03:01 - Why “strong convictions, weakly held” is one of the most powerful default frameworks 00:09:05 - Why customer loyalty is an underappreciated signal of long-term business quality 00:13:42 - Sleuthing a business 00:17:15 - Why reflecting on your own emotions is essential 00:23:35 - Why intelligent investing always involves incomplete information 00:31:17 - Intentional inactivity 00:37:09 - How understanding company culture helps identify true long-term compounders 00:42:25 - Why founders matter 00:53:56 - Focusing on fragility and downside risk 00:59:01 - Why incentive structures are one of the most critical drivers of business performance

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.
Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠.
Buy ⁠The Compounders⁠.
Listen to ⁠MI310: A Serial Acquirer Deep Dive⁠.
Follow Kyle on ⁠⁠⁠⁠⁠⁠X⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠LinkedIn.⁠⁠⁠⁠⁠⁠
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.

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TECH010: The Real Robotics Timeline w/ Ken Goldberg (Tech Podcast)

Wed, 24 Dec 2025 01:00:00 -0000

Ken and Preston examine whether robotics has lost its way, echoing Rodney Brooks’ concerns. They dissect the gap between AI language models and physical robotics, focusing on dexterous manipulation, tactile sensing, and visual feedback.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro

00:02:37 - Why Ken agrees that robotics may have “lost its way”

00:03:37 - The critical gap between AI language skills and robotic manipulation

00:04:33 - How robot mobility is advancing, but dexterity still lags

00:08:15 - Why tying shoelaces is still too complex for robots

00:12:37 - The role of tactile sensing vs. vision in robotic surgery

00:14:45 - How camera placement in robotic hands affects manipulation

00:20:18 - Why the robot data gap could be 100,000 years behind language models

00:25:13 - Why simpler grippers often outperform human-like robotic hands

00:27:03 - The engineering behind Dex-Net and Ambi Robotics’ success

00:34:37 - How real-world testing exposed unexpected robotic limitations

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

BOOKS AND RESOURCES

Official website: Ken Goldberg.
Website mentioned: Ambi Robotics.
Research Article: Dex-Net in Science Robotics January 2019.
Executive Education profile: Prof. Ken Goldberg.
Ken Goldberg interview by Kara Manke: Are We Truly on the Verge of the Humanoid Robot Revolution?
Goldberg on Moravec's Paradox.
Goldberg on AI and Creativity.
TEDx Talk: "Robots: What's Taking So Long?"
Op-Ed by Ken Goldberg, Boston Globe: Let's Give AI a Chance.
Research Papers are available for download.
Related⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
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References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.

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RWH064: A Soulful Path To Stellar Returns w/ Nima Shayegh

Sun, 21 Dec 2025 01:00:00 -0000

William Green talks with Nima Shayegh of Rumi Partners about Lou Simpson’s investing wisdom and the power of ignoring noise to achieve outstanding returns.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro

00:06:41 - How Nima Shayegh came to see investing as the ultimate intellectual adventure.

00:10:31 - Why investors must go beyond numbers to grasp deep truths about businesses.

00:16:56 - What riding in a Tesla taught him about the awesome experience of quality.

00:21:05 - Why investors should harness intuition & emotions but avoid ego.

00:36:31 - How to succeed by owning resilient businesses & ignoring macro forecasts.

00:39:26 - What qualities made Nima’s mentor, Lou Simpson, an investing legend.

00:49:27 - How Lou taught Nima to avoid noise, distractions & the lure of a flashy office.

00:59:03 - Why Nima’s portfolio is dominated by stocks like AppFolio & Brookfield.

01:13:08 - What he learned from having dinner with Charlie Munger.

01:30:26 - Why we should surrender to uncertainty & should welcome volatility.

01:39:55 - What investors can learn from surfers about the value of self-reliance.

01:41:35 - Why he named his investment firm after a 13th-century Sufi mystic.

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.
Inquire about William Green’s ⁠⁠⁠⁠Richer, Wiser, Happier Masterclass⁠⁠⁠⁠.
Read Concentrated Investing by Allen Benello, Michael van Biema, Tobias Carlisle.
Read Small is Beautiful & A Guide for the Perplexed by E.F. Schumacher.
Read Jalal ad-Din Muhammad ar-Rumi’s book, The Ultimate Rumi Collection.
Check out William Finnegan’s book Barbarian Days.
Check out William Green’s book, Richer, Wiser, Happier.
Follow William Green on ⁠⁠⁠⁠⁠⁠⁠⁠⁠X⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Related ⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP777: The 1999 Dot-Com Bubble w/ Clay Finck

Fri, 19 Dec 2025 01:00:00 -0000

In this episode, Clay explores the dot-com boom and bust through Roger Lowenstein’s book, Origins of the Crash. The book unpacks how distorted incentives, financial engineering, and speculative excess reshaped markets. By studying this period in market history, investors can better recognize recurring patterns in behavior, incentives, and speculation, and apply those lessons to avoid future manias.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:03:33 - Why stock options often misalign executives and long-term shareholders 00:08:51 - How financial engineering was abused in the 1990s market boom 00:12:45 - How distorted incentives fueled the dot-com bubble 00:27:51 - Why revolutionary technologies don’t guarantee successful investments 00:31:47 - The role Wall Street analysts and the media played in amplifying speculation 00:39:19 - How Enron’s deception exposed systemic failures in governance and oversight 01:11:34 - Clay’s lessons for avoiding hype-driven bubbles in the future

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.
Learn how to join us in Omaha for the Berkshire meeting ⁠here⁠.
Roger Lowenstein’s book: Origins of the Crash.
Mentioned Episode TIP693: The Power Law: Unlocking Venture Capital's Secrets w/ Clay Finck.
Follow Clay on ⁠LinkedIn⁠ & ⁠X⁠.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TECH009: Data Centers in Space, AI Education, Haptic Touch Robotics and More w/ Seb Bunney

Wed, 17 Dec 2025 01:00:00 -0000

This episode explores the intersection of AI with healthcare, space innovation, and education. Preston and Seb discuss personalized genetic analysis, Google's space data centers, haptic touch tech, and the future of simulated realities.

They also touch on AI bias, regulation, and how evolving tech might reshape society, purpose, and connection.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro

00:05:20 - How genetic data is used to create custom supplement plans

00:07:21 - The role of AI in interpreting genetic information

00:16:21 - Why Google's space-based data centers could revolutionize computing

00:19:55 - Technical challenges of Bitcoin mining in orbit

00:24:17 - The implications of space debris and Kessler Syndrome

00:26:11 - How AI is personalizing education through initiatives like "Learn Your Way"

00:30:35 - Pros and cons of VR and humanoid robots in classrooms

00:38:45 - Ethical concerns around AI bias and centralization of regulation

00:54:37 - Advances in haptic touch technology for VR and robotics

00:50:12 - Philosophical questions about simulations, reality, and technology’s impact on society

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

BOOKS AND RESOURCES

Seb’s book: ⁠⁠⁠The Hidden Cost of Money⁠⁠⁠.
X Account: ⁠⁠Seb Bunney⁠⁠.
Related⁠⁠⁠⁠⁠⁠⁠⁠⁠ books⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our⁠⁠⁠⁠⁠⁠⁠⁠⁠ Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
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Browse through all our episodes (complete with transcripts) ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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Enjoy exclusive perks from our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠favorite Apps and Services⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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RWH063: Avoid Disaster w/ Howard Marks

Sun, 14 Dec 2025 01:00:00 -0000

In this episode, William Green chats with multibillionaire investor Howard Marks, the co-founder & co-Chairman of Oaktree Capital Management. Since its launch 30 years ago, the firm has grown into a global powerhouse in alternative investments, with $218 billion in assets.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro 00:04:01 - Why Howard Marks aims for “steady excellence,” not shooting the lights out. 00:05:59 - What investors should learn from great (& not-so-great) tennis players. 00:13:13 - How to figure out the right “risk posture” for your investment portfolio. 00:20:12 - How he managed to pull off 5 major market calls in the course of his career. 00:33:24 - What makes Bruce Karsh, his long-time partner, a superb investor. 00:36:52 - How specialization can give you a powerful edge. 00:57:53 - How today’s investment environment resembles the dotcom bubble. 00:54:21 - Why Howard expects most AI companies to “end up worthless.” 00:58:55 - Why he’s deeply wary of investing in Bitcoin & gold. 01:10:46 - Why bonds now strike him as a relatively attractive investment. 01:20:05 - How he reached the pinnacle without sacrificing family, friends or hobbies.

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.
Inquire about William Green’s ⁠⁠⁠Richer, Wiser, Happier Masterclass⁠⁠⁠.
The Complete Collection of Howard Marks’ Memos.
Howard Marks’ book The Most Important Thing Illuminated.
Howard Marks’ book Mastering the Market Cycle.
Charlie Ellis's book Winning the Loser’s Game.
David Swensen's Pioneering Portfolio Management.
Edward Chancellor's Devil Take the Hindmost.
William Green’s book, “Richer, Wiser, Happier” – ⁠⁠⁠⁠⁠⁠read the reviews of this book⁠⁠⁠⁠⁠⁠.
Follow William Green on ⁠⁠⁠⁠⁠⁠⁠⁠X⁠⁠⁠⁠⁠⁠⁠⁠.
Related ⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

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

TIP776: Stig Brodersen’s Mental Models & Portfolio Update

Fri, 12 Dec 2025 01:00:00 -0000

On today’s episode, Clay is joined by Stig Brodersen to discuss the changes he’s made to his portfolio, why he sold out of Evolution AB, and why he’s bullish on Uber. Clay and Stig also discuss the mental models that Stig has picked up this year, and how our listeners can join us at our live events in Omaha during the Berkshire Hathaway shareholders’ weekend.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:05:08 - The mental models that Stig has picked up this year 00:08:47 - Why Stig sold his position in Evolution AB 00:15:50 - Why Stig has continued to add to his new position in Uber 00:43:29 - The bear case for Uber, and what would break his investment thesis 01:04:52 - Stig’s take on the AI race, and where Alphabet fits into the bigger picture 01:25:19 - How our listeners can join us in Omaha during the Berkshire Hathaway shareholders’ weekend

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.
Learn how to join us in Omaha for the Berkshire meeting here.
Read Stig’s letters to We Study Billionaires about his track record.
Mentioned Episode: TIP618: Stig’s Portfolio Performance since 2014.
Mentioned Episode: TIP684: Current Market Conditions & Poor Charlie's Almanack.
Follow Clay on LinkedIn & X.
Follow Stig on LinkedIn.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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BTC256: Bitcoin Market Sentiment and Liquidity Cycles w/ Andy Edstrom (Bitcoin Podcast)

Wed, 10 Dec 2025 01:01:00 -0000

Andy and Preston explore the turbulent world of Bitcoin treasury companies, from MicroStrategy’s bold plays to sector-wide risks and poor performance. They dive into Bitcoin-backed stablecoins, valuation models, and adoption barriers.

The episode wraps with discussions on energy, AI, and whether Bitcoin's market cycles are evolving toward stability or fresh volatility.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro 00:01:43 - Why many Bitcoin treasury companies have underperformed or failed 00:03:34 - How MicroStrategy’s debt profile compares to its market cap and cash flow 00:06:59 - The concept of Bitcoin-backed stablecoins and their over-collateralization 00:08:58 - Key solvency risks in stablecoin issuance and Bitcoin securitization 00:14:46 - How valuation frameworks like MNAV apply to Bitcoin treasuries 00:19:26 - Limitations of MicroStrategy stock vs. holding Bitcoin directly 00:26:09 - Why Bitcoin adoption is hindered by complexity and public perception 00:29:18 - Andy’s diversified investment strategy beyond Bitcoin 00:32:45 - How emerging AI and EV technologies intersect with financial trends 00:42:39 - Market cycle insights and predictions for Bitcoin’s future price

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

BOOKS AND RESOURCES

Andy Edstrom’s Book: Why Buy Bitcoin: Investing Today in the Money of Tomorrow.
X Account: Andy Edstrom.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠here⁠⁠⁠.
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Browse through all our episodes (complete with transcripts) ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Try our tool for picking stock winners and managing our portfolios: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Finance Tool⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP775: Why Your Valuation Metrics Might Be Lying to You w/ Kyle Grieve

Sun, 07 Dec 2025 01:00:00 -0000

Kyle Grieve breaks down Michael Mauboussin’s key insights on combating noise, valuing intangible-rich businesses, using the rule of 40, leveraging checklists and algorithms, understanding base rates, and more.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro

00:03:00 - How to use the BIN acronym to help you deal with forecasting error

00:14:32 - Four myths in investing (many of which I’ve fallen for)

00:26:15 - Why you must take GAAP numbers on a case-by-case basis due to handicaps of the standard

00:25:07 - How the rise in passive investing is making active investing more challenging

00:33:19 - Why GAAP losers outperform GAAP winners

00:37:14 - Why you should understand the differences between pricing and valuing a business

00:48:39 - Why using assorted multiples will help identify true undervaluations

00:45:50 - How to utilize the rule of 40 in your investing regardless of whether you invest in tech or not

00:49:16 - What to know about the base rates of a public business’s survival

00:58:00 - Why most investments will fail and how to deal with the ones that succeed

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.
Read The Consilient Observer here.
Learn about the BIN framework here.
Dive into the four myths here.
Explore valuation multiples more here
Understand total shareholder returns more here.
Improve your views on business survival here.
Follow Kyle on Twitter and LinkedIn.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP774: Being Greedy While Others are Fearful w/ Shawn O'Malley

Fri, 05 Dec 2025 01:00:00 -0000

On today’s episode, Clay is joined by Shawn O’Malley to discuss what he’s learned through hosting The Intrinsic Value Podcast over the past year. They also dive into The Intrinsic Value Portfolio, which includes holdings like Uber, Alphabet, Lululemon, Nike, and Adobe.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro 00:01:42 - How The Intrinsic Value Portfolio has performed this year 00:18:23 - Why a sizable portion of The Intrinsic Value Portfolio is invested in big tech companies 00:28:41 - How Shawn gets comfortable investing in retail companies 00:43:07 - Why Nike is included in The Intrinsic Value Portfolio 00:49:27 - The best opportunities Shawn sees in today’s market 00:58:16 - Why Shawn is bullish on Adobe despite the collapsing stock price 01:17:23 - Shawn’s estimate of the intrinsic value of Adobe 01:24:19 - Shawn’s process for researching stocks

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.
Check out The Intrinsic Value Podcast.
Check out The Intrinsic Value Newsletter.
Check out The Intrinsic Value Portfolio.
Check out The Intrinsic Value Community.
Mentioned Episode: TIP741: The Intrinsic Value of Uber & Reddit.
Related Episode: TIVP019: Adobe (ADBE): Designing a Creative Empire.
Related Episode: TIVP033: Lululemon (LULU): Still the King of Athleisure?
Follow Clay on LinkedIn & X.
Follow Shawn on LinkedIn & X.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TECH008: Emerging Tech Overview: Driverless Cars, Image Generation, Energy Infrastructure w/ Seb Bunney (Tech Podcast)

Wed, 03 Dec 2025 01:00:00 -0000

Seb and Preston explore Tesla's FSD 14.2 advancements and their implications for AI-driven autonomy. They also tackle the ethical, societal, and infrastructural challenges of rapid AI development—from brain-inspired computing to nuclear energy’s role in supporting AGI.

IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:01:44 - How Tesla’s FSD 14.2 dramatically improved its autonomous driving performance 00:13:42 - The ethical dilemmas and liability concerns around AI decision-making 00:20:27 - Tesla’s sensor-only approach versus LiDAR-heavy systems like Waymo 00:27:31- The potential of biologically-inspired artificial neurons 00:30:32 - How brain-computer interfaces could revolutionize AI and prosthetics 00:32:28 - The societal risks of tech-enhanced human capabilities 00:36:26 - How AI image generation tools like Google’s Nano Banana Pro are evolving 00:49:37 - Why AI’s energy demands are influencing nuclear power policy 01:00:06 - The risks of AI-induced content homogenization and “AI slop” 01:07:22 - Why some are turning to manual trades to escape AI disruption

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

BOOKS AND RESOURCES

Seb’s book: ⁠⁠The Hidden Cost of Money⁠⁠.
X Account: ⁠Seb Bunney⁠.
Related⁠⁠⁠⁠⁠⁠⁠⁠ books⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our⁠⁠⁠⁠⁠⁠⁠⁠ Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠.

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Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP773: How Systems and Simple Math Shape Better Investing w/ Kyle Grieve

Sun, 30 Nov 2025 01:00:00 -0000

On today’s episode, Kyle Grieve discusses powerful mental models from systems thinking and mathematics and applies them directly to investing and life. He breaks down concepts like feedback loops, kill criteria, scale, compounding, randomness, and regression to the mean to show how they shape real-world outcomes. He'll also share practical frameworks for improving decision-making, managing uncertainty, and positioning your portfolio to benefit from long-term compounding.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro

00:03:23 - How feedback loops stabilize or reinforce outcomes in investing

00:10:11 - How kill criteria help you make predetermined decisions in a noisy world

00:14:09 - Why the cone of uncertainty is useful for evaluating conviction and position sizing

00:17:33 - How scale changes the behavior, costs, and risks of a growing business

00:25:06 - How algorithms clarify which inputs drive the conclusions you rely on

00:30:20 - How to evaluate a company’s ability to reach critical mass and become self-sustaining

00:35:35 - The hidden forms of compounding that are just as powerful as the visible ones

00:40:02 - Why power laws should influence your portfolio concentration

00:43:12 - How randomness shapes investing outcomes, and how to take advantage of it

00:51:24 - Why regression to the mean matters during periods of strong or weak performance

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.
Buy Thinking in Systems ⁠here⁠.
Buy The Great Mental Models Vol 3: Systems and Mathematics ⁠here⁠.
Buy Quit ⁠here⁠.
Listen to my interview with Annie Duke ⁠here⁠.
Follow Kyle on ⁠⁠⁠X⁠⁠⁠ and ⁠⁠⁠LinkedIn⁠⁠⁠.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP772: How Great Compounders Turn Time Into a Superpower w/ Kyle Grieve

Fri, 28 Nov 2025 01:00:00 -0000

On today’s episode, Kyle Grieve discusses what makes elite compounders so valuable and why they can generate exceptional returns even when purchased at high valuations.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro 00:02:42 - Why Compounders deserve to trade at a premium 00:10:13 - The three parameters necessary for successful compounding 00:12:49 - The two approaches for reinvestment that compounders take advantage of 00:14:42 - How compounders create resiliency 00:19:37 - The reasons Sweden has so many successful serial acquirers 00:25:25 - About the two pioneers of Swedish decentralization 00:25:25 - Why Electrolux has created so many great business cultures 00:31:03 - The importance of discipline to successful serial acquirers 00:38:36 - The benefits of working capital KPIs 00:57:54 - The surprising ingredient of compounders

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.
Buy The Compounders here.
Listen to MI310 A Serial Acquirer Deep Dive: here.
Follow Kyle on ⁠⁠X⁠⁠ and ⁠⁠LinkedIn⁠⁠.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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BTC255: Bitcoin Is For Everyone w/ Natalie Brunell (Bitcoin Podcast)

Wed, 26 Nov 2025 01:00:00 -0000

Preston and Natalie discuss her book Bitcoin is for Everyone, a concise, accessible guide to Bitcoin’s relevance in today’s world. They explore Natalie’s personal immigrant story, the financial wake-up call of 2008, and how Bitcoin offers hope amid systemic dysfunction. They also address national vulnerabilities, military planning, and the future of decentralized money.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro 00:03:04 - How Natalie’s immigrant background shaped her views on money and freedom. 00:08:02 - The 2008 financial crisis as a catalyst for her career and beliefs. 00:11:03 - Why Bitcoin is seen as a corrective to a broken financial system. 00:18:02 - The distinction between true capitalism and socialized losses. 00:23:34 - How to explain Bitcoin’s volatility through systemic flaws. 00:28:09 - Why Bitcoin is for Everyone is a great entry point for Bitcoin beginners. 00:31:56 - How energy use and scarcity are central to Bitcoin’s value. 00:35:50 - Why Bitcoin’s design empowers individuals over institutions. 00:46:49 - The importance of educating future generations on sound money. 00:54:18 - The national security risks tied to financial and industrial offshoring.

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

BOOKS AND RESOURCES

Natalie’s new Book: Bitcoin is for Everyone.
Natalie’s Podcast: Coin Stories.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠here⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠Premium Feed⁠⁠⁠.

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Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP771: Money Masters Of Our Time w/ Kyle Grieve

Sun, 23 Nov 2025 01:00:00 -0000

On today’s episode, Kyle Grieve discusses significant takeaways from the book Money Masters Of Our Time.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro 00:07:58 - Warren Buffett's emphasis on "controlled greed" and "fascination with your craft" and why it's necessary to survive in the market for a lifetime 00:11:14 - How to identify and take advantage of stocks nobody else wants 00:17:48 - Why more research time should be spent finding the truth of things rather than confirming what you already believe to be true 00:24:46 - A simple framework for identifying and holding businesses that compound capital 00:28:29 - The four kinds of events when a quality business can offer attractive entry points to look for 00:43:51 - Strategies to search for opportunities in newly opened markets 00:52:32 - The importance of perspective when taking advice from people who are playing different games than you 00:56:09 - The importance of being reluctant to take profits 01:02:08 - How to utilize metaphors to aid in your investing decision-making 01:12:30 - The strength of using tracking positions to understand potential outperformers better

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.
Buy Money Masters of Our Time ⁠here⁠.
Follow Kyle on ⁠X⁠ and ⁠LinkedIn⁠
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP770: Mastering the Markets w/ Andrew Brenton

Fri, 21 Nov 2025 01:00:00 -0000

On today’s episode, Clay Finck is joined by Andrew Brenton to discuss the inefficiencies in the stock market as well as his investment thesis on Floor & Decor and Kinsale Capital.

Andrew Brenton is the CEO and co-founder of Turtle Creek Asset Management. Since its inception in 1998, Turtle Creek has achieved an average annual return of 18.8% versus just 8.7% for the S&P 500. $10,000 invested in their fund at inception would have grown to over $1 million, and had that money been invested in the market, it would have been worth around $95,000.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro 00:01:28 - Andrew’s thoughts on whether today’s markets are becoming more or less efficient 00:13:08 - How today’s market reminds him of the 1999 tech business 00:16:17 - His investment thesis and intrinsic value estimate of Floor & Decor 00:41:26 - Why Andrew is long Kinsale Capital in the fund 00:57:05 - Andrew’s thoughts on weathering periods of underperformance relative to the broader 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, Kyle, and the other community members.
Cliff Asness’s paper: The Less-Efficient Market Hypothesis.
Check out Turtle Creek Asset Management.
Related Episode: Listen to TIP592: Outperforming the Market Since 1998 w/ Andrew Brenton, or watch the video.
Related Episode: TIP674: Outperforming the Market, Managing Risk, & Market Inefficiencies w/ Andrew Brenton, or watch the video.
Follow Clay on ⁠⁠X⁠⁠ and ⁠⁠LinkedIn⁠⁠.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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BTC254: Bitcoin & Macro Overview w/ Luke Gromen Q4 2025 (Bitcoin Podcast)

Wed, 19 Nov 2025 01:00:00 -0000

Luke and Preston delve into America's financial fragility, exploring Treasury funding risks, shifting global power dynamics, and Fed policy challenges.

They discuss the rising relevance of Bitcoin and gold amid liquidity constraints, and how economic missteps, tech sector bottlenecks, and geopolitical shifts may shape the future.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro

00:01:37 - Why the U.S. faces a multi-pronged "poly crisis" despite strong tax receipts

00:02:20 - How short-term debt issuance is straining financial system liquidity

00:04:02 - Why Japan’s bond and currency trends signal deeper global shifts

00:05:10 - The impact of U.S. shale decline and oil demand on inflation

00:12:18 - How hedge funds are absorbing Treasury debt—and why it matters

00:06:27 - The surprising risk factors in the tech sector like hyperscaler power limits

00:19:31 - The contradiction in U.S. housing policy and mortgage lengths

00:26:06 - Why Bitcoin and gold are diverging in investor appeal

00:49:16 - How global power shifts and sanctions are elevating gold’s role

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

BOOKS AND RESOURCES

X Account: ⁠⁠Luke Gromen⁠⁠.
Newsletter: ⁠⁠FFTT⁠⁠.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠here⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠Premium Feed⁠⁠.

NEW TO THE SHOW?

Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Check out our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP769: How Home Depot’s Founders Built a $300 Billion Company from the Ground Up w/ Kyle Grieve

Sun, 16 Nov 2025 01:00:00 -0000

Kyle Grieve discusses the incredible origin story of Home Depot and the visionary founders who built it from nothing. He explores how Bernie Marcus, Arthur Blank, and Ken Langone overcame countless setbacks to create a retail powerhouse. Kyle also shares timeless business lessons on leadership, culture, and competitive advantage that continue to define Home Depot’s success today.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro 00:06:13 - The setbacks that sparked Home Depot’s creation after Bernie and Arthur were fired 00:09:35 - Why Ken Langone saw Bernie’s firing as a billion-dollar opportunity in disguise 00:12:15 - How a handshake and a Cadillac nearly killed Home Depot’s first funding deal 00:14:51 - The moment Bernie found his “dream store” was already built… by a competitor 00:19:07 - Why J.C. Penney’s struggling subsidiary became the key to Home Depot’s first stores 00:27:05 - How warehouse grit, not polish, became central to Home Depot’s brand identity 00:27:59 - The creative $2 promotion that packed stores and put Home Depot on the map 00:31:06 - The critical lessons from Sears’ fall that shaped Home Depot’s management philosophy 00:35:43 - How Sam Walton’s “everyday low prices” transformed Home Depot’s margins forever 00:52:00 - Four timeless leadership and culture principles that still drive Home Depot’s success

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.
Buy Built From Scratch here.
Listen to TIP655: Nike: From Humble Beginnings to Global Domination here.
Follow Kyle on X and LinkedIn.
Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

SPONSORS Support our free podcast by supporting our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠sponsors⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠:

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

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TIP768: Best Quality Stock Idea Q4 2025 w/ Clay Finck

Fri, 14 Nov 2025 01:00:00 -0000

On today’s episode, Clay Finck breaks down his best quality stock idea for Q4 2025: Interactive Brokers.

Interactive Brokers is a global online brokerage that gives investors access to markets around the world with industry-low costs in trading stocks, options, futures, currencies, and more.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro 00:02:01 - Why Interactive Brokers could grow from 4 million to 20 million accounts over the next decade 00:14:48 - Thomas Peterffy’s story of building IBKR after immigrating from Hungary 00:18:32 - Why its automation-first culture creates a moat that competitors can’t easily match 00:32:38 - How IBKR earns industry-leading margins 01:00:39 - An overview of their valuation 01:05:20 - The key risks and long-term opportunities investors should monitor

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.
Collosus’s article on Thomas Peterffy.
Mentioned Episode TIP599: Top Stocks for 2024 w/ Jonathan Boyar.
Related Episode TIP745: Best Quality Idea Q3 2025 w/ Clay Finck.
Related Episode TIP722: Best Quality Idea Q2 2025 w/ Clay Finck & Kyle Grieve.
Related Episode TIP698: Best Quality Idea Q1 2025 w/ Clay Finck & Kyle Grieve.
Related Episode TIP675: Best Quality Idea Q4 2024 w/ Clay Finck & Kyle Grieve.
Related Episode TIP652: Best Quality Idea Q3 2024 w/ Clay Finck & Kyle Grieve.
Follow Clay on ⁠X⁠ and ⁠LinkedIn⁠.
Related ⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

SPONSORS Support our free podcast by supporting our ⁠⁠⁠⁠⁠⁠⁠⁠⁠sponsors⁠⁠⁠⁠⁠⁠⁠⁠⁠:

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

BTC253: Quantum Computing and Bitcoin w/ Charles Edwards (Bitcoin Podcast)

Wed, 12 Nov 2025 01:00:00 -0000

Preston and Charles dive into the fundamentals of quantum computing, its transformative applications, and the looming threat it poses to Bitcoin encryption.

They break down the distinction between physical and logical qubits, real-world use cases, and the exponential progress in the field. With timelines tightening, they call for urgent collaboration across the Bitcoin and cryptography communities to prepare for a post-quantum world.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro

00:02:30 - How quantum computing works, including superposition and entanglement 00:08:54 - The difference between physical and logical qubits—and why it matters 00:04:21 - Key industries already benefiting from quantum applications 00:13:07 - Why quantum computing could break Bitcoin’s encryption within 5 years 00:28:04 - The significance of BIP360 and post-quantum migration strategies 00:20:47 - How China's investment and U.S. executive actions shape the race 00:15:41 - Preston’s skepticism of inflated quantum marketing claims 00:22:14 - How AI might accelerate quantum computing development 00:26:06 - Which Bitcoin addresses are most vulnerable to quantum attacks 00:33:32 - Why collaboration is critical to defending Bitcoin's trust model

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

BOOKS AND RESOURCES

Slides on Quantum Discussion.
Deck on Quantum Computing.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠here⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠Premium Feed⁠⁠⁠.

NEW TO THE SHOW?

Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Check out our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

SPONSORS

Support our free podcast by supporting our ⁠⁠⁠sponsors⁠⁠⁠:

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

TIP767: Mastermind Discussion Q4 2025: Sanofi, Remitly & Crocs w/ Stig Brodersen, Tobias Carlisle, and Hari Ramachandra

Sun, 09 Nov 2025 01:00:00 -0000

Stig Brodersen is joined by Tobias Carlisle & Hari Ramachandra for another round of stock pitches. They discuss Sanofi, Remitly, and Crocs.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro

00:01:54 - Why Hari is bullish on Sanofi’s strong vaccine and immunology pipeline (Ticker: NYSE: SNY)

00:05:30 - The bear case for Sanofi, including patent cliffs

00:19:26 - Why Stig is bullish on Remitly, highlighting operational leverage and a secular shift in digital payments and remittances (Ticker: NASDAQ: RELY)

00:43:10 - The bear case for Remitly, including pursuing the wrong strategy and excessive stock-based compensation

00:50:50 - Why Toby is bullish on Crocs, focusing on valuation and global growth (Ticker: NASDAQ: CROX)

01:02:36 - The bear case for Crocs, including tariffs and changing fashion trends

01:18:08 - Which live events we have planned for our Mastermind Community in 2026 — and how you can join

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
Check out our event in Montana
Join us in Omaha for Berkshire Hathaway’s annual shareholders’ meeting
Tobias Carlisle's book, Soldier of Fortune
Stig Brodersen’s Portfolio and Track record
Listen to Mastermind Discussion Q3 2025 | YouTube video
Listen to Mastermind Discussion Q2 2025 | YouTube video
Listen to Mastermind Discussion Q1 2025 | YouTube video
Listen to Mastermind Discussion Q4 2024 | YouTube video
Listen to Mastermind Discussion Q3 2024 | YouTube video
Listen to Mastermind Discussion Q2 2024 | YouTube video
Listen to Mastermind Discussion Q1 2024 | YouTube video
Tobias Carlisle's podcast, The Acquirers Podcast
Tobias Carlisle's ETF, ZIG
Tobias Carlisle's ETF, Deep
Tweet directly to Tobias Carlisle
Hari's Blog: BitsBusiness.com
Tweet directly to Hari
Related ⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast
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TIP766: Intelligent Fanatics: How Great Business Leaders Win w/ Clay Finck

Fri, 07 Nov 2025 01:00:00 -0000

In this episode, Clay explores the concept of Intelligent Fanatics. Intelligent Fanatics are visionary leaders who build enduring, high-performance businesses through culture, focus, and integrity. Drawing from Ian Cassel and Sean Iddings’ book Intelligent Fanatics, Clay highlights how exceptional leaders like Herb Kelleher, Les Schwab, and Chester Cadieux created companies that thrived for decades by empowering employees, thinking unconventionally, and maintaining a long-term focus.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro 00:02:12 - What defines an Intelligent Fanatic and how they build lasting business moats 00:26:10 - The role of incentives in motivating teams and compounding performance 00:43:32 - How exceptional leaders create cultures that empower employees and drive long-term success 00:47:09 - Why culture is the strongest and hardest-to-replicate competitive advantage 00:50:56 - How frugality, integrity, and focus shape world-class organizations 01:01:35 - How Intelligent Fanatics sustain greatness through experimentation and productive paranoia

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.
Ian Cassel’s firm: Intelligent Fanatics Capital Management
Related Episode TIP734: My Investment Philosophy w/ Clay Finck.
Related Episode TIP656: Mastering Stock Selection with an Investment Checklist w/ Clay Finck.
Follow Clay on X and LinkedIn.
Related ⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TECH007: Longevity Roadmap w/ Seb Bunney (Tech Podcast)

Wed, 05 Nov 2025 01:00:00 -0000

In this wide-ranging conversation, Preston and Seb unpack the biology of aging and the emerging science behind longevity. They take about epigenetics, sirtuins, Yamanaka factors, and how AI may accelerate regenerative medicine, offering a glimpse into the future of human health.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro

00:05:04 - Why Aging Might Be a Disease—and What That Changes Scientifically
00:07:05 - What Epigenetics Is and How It Affects Cellular Aging
00:24:37 - How Yamanaka Factors Can Reset Cells and Potentially Reverse Aging
00:35:43 - The Role of Fasting, Cold, and Heat in Triggering Repair Pathways
00:30:22 - What NMN and Sirtuins Do in the Body and Their Role in Longevity
00:42:26 - How AI Could Simplify and Accelerate Breakthroughs in Aging Science
00:48:48 - The Philosophical Trade-Offs of Living Longer Versus Living Better

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

BOOKS AND RESOURCES

Related book: Lifespan: Why We Age―and Why We Don't Have To.
Seb's website: Seb Bunney - The Qi of Self Sovereignty.
Seb’s book: ⁠The Hidden Cost of Money⁠.
X Account: Seb Bunney.
Related⁠⁠⁠⁠⁠⁠⁠ books⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our⁠⁠⁠⁠⁠⁠⁠ Premium Feed⁠⁠⁠⁠⁠⁠⁠.

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Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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Browse through all our episodes (complete with transcripts) ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Try our tool for picking stock winners and managing our portfolios: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Finance Tool⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP765: What the World’s Great Philosophers Can Still Teach Us About Wealth and Wisdom w/ Kyle Grieve

Sun, 02 Nov 2025 00:00:00 -0000

On today’s episode, Kyle Grieve discusses how timeless philosophical ideas can deepen our understanding of investing and life. He explores lessons from thinkers such as Spinoza, Nietzsche, Hume, and Pascal to reveal how concepts like persistence, skepticism, and luck shape decision-making. Kyle also connects these ideas to modern investing by drawing on insights from Buffett, Voltaire, and Bruce Lee, showing how adaptability, emotional control, and inner reflection lead to better outcomes.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro 00:02:18 - How Spinoza’s idea of eternity can guide timeless investing decisions 00:05:36 - The power of persistence and what conatus teaches us about successful businesses 00:07:56 - Why emotional self-mastery may be your greatest investing edge 00:10:19 - What Nietzsche and Buffett reveal about living with integrity in finance and life 00:16:30 - How Hume’s healthy skepticism leads to sharper questions and wiser decisions 00:26:01 - What Voltaire can teach us about challenging the Efficient Market Hypothesis 00:30:11 - How Blaise Pascal’s wild luck swings illuminate the role of chance in investing 00:35:52 - Why William James’s pragmatism can ground abstract financial ideas in reality 00:38:31 - How market simulations and symbols can distort or enhance our understanding 01:07:12 - What Bruce Lee’s Be Water mindset reveals about adaptability in investing

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.
Buy Ethan’s book The Investment Philosophers here.
Follow Kyle on X and LinkedIn.
Related ⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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SPONSORS Support our free podcast by supporting our ⁠⁠⁠⁠⁠⁠⁠sponsors⁠⁠⁠⁠⁠⁠⁠:

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

TIP764: The Art of Buffett w/ Tobias Carlisle

Fri, 31 Oct 2025 00:00:00 -0000

In this episode, Stig Brodersen speaks with Tobias Carlisle — founder and managing director of Acquirers Funds — about Warren Buffett’s timeless approach to risk. Drawing from Tobias’s new book, Soldier of Fortune, they explore how ancient wisdom, especially from The Art of War, reveals the deeper logic behind Buffett’s biggest and most misunderstood investing decisions.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro 00:02:03 - Why the deal between General Re and Berkshire Hathaway was a masterstroke 00:16:48 - What the ancient text of the art of war can teach us about today’s financial markets 00:27:28 - Why did Buffett buy BNSF when it’s highly capital-intensive 00:36:28 - Why Apple was – perhaps – the best trade Buffett ever made 00:56:04 - Why Buffett’s investment in Japan is in total alignment with the culture of Berkshire Hathaway 01:12:36 - If Berkshire Hathaway is more or less risky than the S&P 500 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.
Tobias Carlisle's book, Soldier of Fortune – read reviews of this book.
Tobias Carlisle's podcast, The Acquires Podcast.
Tobias Carlisle's ETF, ZIG.
Tobias Carlisle's ETF, Deep.
Tobias Carlisle's book, The Acquirer's Multiple – read reviews of this book.
Tobias Carlisle's Acquirer's Multiple stock screener: AcquirersMultiple.com.
Tweet directly to Tobias Carlisle: @Greenbackd.
Related ⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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

TECH006: Open-Source AI That Protects Your Privacy w/ Mark Suman (Tech Podcast)

Wed, 29 Oct 2025 00:00:00 -0000

Mark Suman, co-founder of Maple AI and OpenSecret, shares his insights on how to build cutting-edge AI without sacrificing user privacy.

From secure enclaves and attestation to real-world use cases in law and finance, Mark outlines the technical and ethical foundations of private AI, and why efficient inference, not just open models, is the next big frontier.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro

00:01:57 - How Mark’s Time at Apple Shaped His Vision for Secure, User-First AI

00:06:06 - Why Verifiable AI Matters for Protecting User Data

00:07:38 - The Privacy Threats of Centralized AI Models

00:15:26 - What Maple AI Does That Other AI Tools Don’t—End-to-End Encrypted, Verifiable Privacy

00:17:30 - The Threat Models Maple Addresses and How Enclaves + Attestation Work

00:19:51 - Why Inference Speed and Efficiency—Not Open Weights—Are the New AI Battleground

00:24:05 - Where Decentralized AI Fits Into Today’s Landscape

00:25:12 - A Step-by-Step Guide to Getting Started with Maple

00:29:13 - How Users Change Behavior When They Trust the AI System

00:32:42 - The Risks and Critiques of TEEs—and How Maple Answers Them

00:37:35 - Which Professions Benefit Most from Private AI

00:45:27 - Mark’s Vision for Verifiable, Private AI Over the Next Decade

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

BOOKS AND RESOURCES

X Account: Mark Suman.
Website: Maple AI.
Related⁠⁠⁠⁠⁠⁠ books⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our⁠⁠⁠⁠⁠⁠ Premium Feed⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

SPONSORS

Support our free podcast by supporting our ⁠⁠⁠⁠⁠⁠⁠sponsors⁠⁠⁠⁠⁠⁠⁠:

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RWH062: Bubble Warning w/ Jim Grant

Sun, 26 Oct 2025 00:00:00 -0000

William Green chats with Jim Grant, famed editor of Grant’s Interest Rate Observer. Here, Jim warns that a major market top is forming as exuberance inflates stocks, Bitcoin, and gold. He says it echoes past bubbles and urges extreme caution.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 Intro

00:10:40 Why Jim Grant is fiercely skeptical about Bitcoin.

00:19:25 Why you should be wary of all the hype about Private Equity.

00:35:50 Why Jim expects the AI boom to end in “a panic & a crash.”

00:44:13 Why even the shrewdest speculators never know when it’s time to sell.

00:49:50 What the Federal Reserve is likely to do with interest rates.

00:57:53 Why the dollar seems poised to continue losing value.

01:04:28 Why inflation will persist, fueled by perennial flaws in human nature.

01:09:50 Why Jim loves gold but is starting to worry about its meteoric rise.

01:19:01 Why he owns some bonds, despite his grim prognosis for this asset class.

01:23:39 How bull markets attract sleazy salesmen & bear markets clear them away.

01:25:56 What inspired him to write a new book about two 18th-century heroes.

01:59:34 How studying history helps him appreciate some benefits of modern 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, Kyle, and the other community members.
Inquire about William Green’s ⁠⁠Richer, Wiser, Happier Masterclass⁠⁠.
Jim Grant’s website for Grant’s Interest Rate Observer.
Subscribe to Almost Daily Grant’s, a free (almost) daily commentary on financial markets.
Check out Grant’s Current Yield Podcast, which is co-hosted by Jim & his colleague Evan Lorenz.
Emanuel Derman's book, My Life as a Quant.
James Grant's book, Bernard M. Baruch: The Adventures of a Wall Street Legend.
Jim Grant's book, Friends until the End.
William Green’s book, “Richer, Wiser, Happier” – ⁠⁠⁠⁠⁠read the reviews of this book⁠⁠⁠⁠⁠.
Follow William Green on ⁠⁠⁠⁠⁠⁠⁠X⁠⁠⁠⁠⁠⁠⁠.
Related ⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

SPONSORS Support our free podcast by supporting our sponsors:

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

TIP763: Investing Lessons for My 18-Year-Old Self w/ Clay Finck

Fri, 24 Oct 2025 00:00:00 -0000

In this episode, Clay shares the most important investing lessons he wishes he could tell his 18-year-old self. Drawing from more than a decade of experience, he distills twelve timeless principles that every investor should know, from the value of patience and independent thinking to understanding where long-term returns come from. Whether you’re just starting out or refining your approach, this episode offers practical insights to help you build lasting wealth and confidence as an investor.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 Intro 00:02:24 Why the best time to start investing is today 00:07:24 Why it’s possible for individuals to beat the market 00:14:11 How patience gives investors a long-term edge 00:18:12 The importance of focusing on great businesses 00:39:17 How surrounding yourself with like-minded investors can accelerate your growth as an investor 00:51:37 Why understanding investor psychology is essential 01:00:38 The importance of thinking independently and ignoring the market noise 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.
Related episode TIP738: Heico: The Queit Aerospace Compounder w/ Clay Finck.
Related episode TIP667: Why Most Stocks Will Lose You Money w/ Hendrik Bessembinder.
Related episode TIP531: Mark Leonard: The Best Capital Allocator You've Ever Heard of w/ Clay Finck.
Related episode TIP634: Value Investing Fundamentals w/ John Huber.
Related episode TIP746: ASML: Europe's Tech Monopoly w/ Clay Finck.
Related episode TIP734: My Investment Philosophy w/ Clay Finck.
Follow Clay on ⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠ & ⁠⁠⁠⁠X⁠⁠⁠⁠.
Related ⁠⁠⁠⁠books⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

SPONSORS Support our free podcast by supporting our ⁠⁠⁠⁠⁠sponsors⁠⁠⁠⁠⁠:

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

BTC252: Bitcoin Mastermind Q3 2025 w/ Joe Carlasare, Jeff Ross, and American HODL (Bitcoin Podcast)

Wed, 22 Oct 2025 00:00:00 -0000

Joe, Jeff, HODL, and Preston break down Q3 2025’s economic trends, market cycles, and BTC's performance. They dive into gold’s rise, AI's impact on capitalism, and the U.S.’s shifting global strategy, with bold Bitcoin price forecasts for 2026.

IN THIS EPISODE YOU’LL LEARN:

00:01:13 Why market sentiment feels bearish despite a 67% BTC gain

00:07:58 How the S&P 500 vs. gold ratio signals a macroeconomic inflection point

00:10:39 Why Jeff Ross sees gold outperforming stocks into the 2030s

00:28:12 The stalled progress of the Strategic Bitcoin Reserve legislation

00:35:07 Central banks’ gold stockpiling and its effect on markets

00:37:09 How upcoming Fed policy could shape future rate cuts

00:46:58 The complex future of capitalism in an AI-driven economy

00:50:45 Insights into America’s $6-7 trillion infrastructure buildout

00:59:40 Why BTC treasury firms are underperforming while miners surge

01:05:35 2026 BTC price predictions and a playful nod to Peter Schiff

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

BOOKS AND RESOURCES

Related Episode: ⁠⁠Bitcoin Mastermind Q1 2025⁠⁠.
Related Episode: ⁠⁠⁠Bitcoin Mastermind Q2 2025.
American HODL on ⁠⁠Nostr⁠⁠.
Jeff Ross on ⁠⁠Nostr⁠⁠.
Joe Carlasare on ⁠⁠X (Twitter)⁠⁠, ⁠⁠Nostr⁠⁠.
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TIP762: 10 Lessons From Investing Legends w/ Kyle Grieve

Sun, 19 Oct 2025 00:00:00 -0000

On today’s episode, Kyle Grieve discusses ten investing principles from legends like Warren Buffett, Peter Lynch, and John Neff. Each lesson reveals how these masters built lasting wealth through timeless thinking. It’s a crash course in investing smarter, thinking clearer, and playing the long game.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 Intro 00:03:02 How Buffett’s brutal honesty became a blueprint for lasting success 00:07:22 How to apply Graham’s margin of safety in an intangible world 00:14:11 How Lynch turned everyday observation into powerful investing opportunities 00:24:04 How Fisher gained an edge using alternative information sources 00:27:31 Where Templeton cast his line to find rare opportunities 00:32:18 Why Neff proved a low P/E isn’t real value 00:37:10 How Howard Marks sharpens thinking in uncertain markets 00:41:42 Why Sleep & Zakaria guard their winners to compound wealth 00:53:03 How Pabrai uncovers hidden value 00:59:48 The power of Munger’s win-win mindset, both life and investing 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.
Follow Kyle on X and LinkedIn.
Related ⁠⁠⁠⁠books⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP761: Tesla Stock Deep Dive w/ Clay Finck

Fri, 17 Oct 2025 00:00:00 -0000

In this episode, Clay explores the extraordinary rise of Tesla and how Elon Musk transformed it from a niche electric car startup into one of the most valuable companies in the world. Since its IPO in 2010, Tesla has compounded at an incredible 47% per year and completely reshaped the automotive industry through software-driven vehicles, vertical integration, and their global charging network.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 Intro 00:02:00 How Tesla evolved from a niche EV startup into a trillion-dollar company 00:12:53 Why Elon Musk’s bold leadership and risk tolerance shaped Tesla’s success 00:27:03 How vertical integration and software-driven vehicles give Tesla an edge 00:32:31 How competition from BYD and legacy automakers impacts Tesla’s growth outlook 00:38:27 What Tesla’s Master Plan Part IV reveals about its future in AI and robotics 00:41:08 Why the energy segment and battery innovation could rival the auto business 01:02:28 What investors can learn from Musk’s “capacity to suffer” mindset 01:05:19 Why Tesla’s valuation depends on optionality from Optimus and Robotaxi 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.
Walter Isaacson’s book: Elon Musk.
Mentioned Episode TIP593: Elon Musk by Walter Isaacson.
Follow Clay on ⁠⁠⁠LinkedIn⁠⁠⁠ & ⁠⁠⁠X⁠⁠⁠.
Related ⁠⁠⁠books⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TECH005: What Tech Is Doing to Us with Justin Evidon (Tech Podcast)

Wed, 15 Oct 2025 00:00:00 -0000

Preston and Jevi unpack the double-edged sword of modern technology. They examine how social media, AI, EMFs, and LED lights impact our well-being, and offer real-world privacy solutions like Graphene OS and open-source photo apps.

From sleep disruption to self-sovereignty, they advocate for mindful tech use and explore how AI can act as a “second brain” while respecting user privacy.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 Intro

00:03:50 How social media algorithms can both help and harm your mental well-being

00:07:56 The benefits of switching to privacy-respecting platforms like Nostr

00:09:32 What self-sovereignty in digital spaces really means

00:12:14 Why being intentional about digital content consumption is crucial

00:12:55 How to use AI and LLMs responsibly as personal information tools

00:18:38 Real-life alternatives to Big Tech’s data-hungry photo storage services

00:29:10 The hidden risks of EMF exposure from common devices

00:38:49 Why LED lights and blue light can disrupt your sleep

00:42:35 Practical tools to mitigate tech’s effects, like Daylight Tablets and color filters

00:47:12 How to strike a balance between tech’s convenience and its consequences

00:51:36 Outro

BOOKS AND RESOURCES

Daylight Computers.
Unchained Capital.
Related⁠⁠⁠⁠ books⁠⁠⁠⁠ mentioned in the podcast.
Ad-free episodes on our⁠⁠⁠⁠ Premium Feed⁠⁠⁠⁠.

NEW TO THE SHOW?

Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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Try our tool for picking stock winners and managing our portfolios: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Finance Tool⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy exclusive perks from our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠favorite Apps and Services⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP760: Dollar Dominance Decline w/ Lyn Alden

Sun, 12 Oct 2025 00:00:00 -0000

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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SPONSORS Support our free podcast by supporting our sponsors:

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

TIP759: The Art of Spending Money w/ Morgan Housel

Fri, 10 Oct 2025 00:00:00 -0000

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.

NEW TO THE SHOW?

SPONSORS Support our free podcast by supporting our ⁠⁠⁠sponsors⁠⁠⁠:

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

TECH004: Sam Altman & the Rise of OpenAI w/ Seb Bunney

Wed, 08 Oct 2025 00:00:00 -0000

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.

NEW TO THE SHOW?

Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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Try our tool for picking stock winners and managing our portfolios: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Finance Tool⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy exclusive perks from our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠favorite Apps and Services⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

SPONSORS

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RWH061: How To Thrive No Matter What w/ Arnold Van Den Berg

Sun, 05 Oct 2025 00:00:00 -0000

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.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

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Follow our official social media accounts: ⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠.
Browse through all our episodes (complete with transcripts) ⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠.
Try our tool for picking stock winners and managing our portfolios: ⁠⁠⁠⁠⁠TIP Finance Tool⁠⁠⁠⁠⁠.
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Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠.

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TIP758: Current Market Conditions & Investment Opportunities w/ Derek Pilecki

Fri, 03 Oct 2025 00:00:00 -0000

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.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TECH003: Elon Musk's Tesla Robotaxi, Optimus, and more w/ Cern Basher (Tech Podcast)

Wed, 01 Oct 2025 00:00:00 -0000

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.

NEW TO THE SHOW?

Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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TIP757: Richer, Wiser, Happier Q3 2025 w/ Stig Brodersen & William Green

Sun, 28 Sep 2025 00:00:00 -0000

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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TIP756: The Rise and Fall of Julian Robertson’s Tiger Fund w/ Kyle Grieve

Fri, 26 Sep 2025 00:00:00 -0000

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.
Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
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.
Follow Kyle on ⁠X⁠ and ⁠LinkedIn⁠.
Related ⁠⁠books⁠⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TECH002: Jensen Huang & NVIDIA w/ Seb Bunney - Review of The Thinking Machine by Stephen Witt

Wed, 24 Sep 2025 00:00:00 -0000

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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Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
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Browse through all our episodes (complete with transcripts) ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Try our tool for picking stock winners and managing our portfolios: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Finance Tool⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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TIP755: My Process for Finding Great Investments w/ Kyle Grieve

Sun, 21 Sep 2025 00:00:00 -0000

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.
Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow Kyle on X and LinkedIn.
Related ⁠books⁠ mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP754: Rule Breaker Investing w/ David Gardner

Fri, 19 Sep 2025 00:00:00 -0000

On today's episode, Clay brings back David Gardner to discuss his new book, Rule Breaker Investing. Throughout David’s investing career, he seemed to have taken all of Buffett’s rules to investing and thrown them out the window. In this episode, he shares his unique rule-breaking framework, providing you with the guidance and the gumption to win at investing by finding and owning the best companies of the future.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro 04:50 - Why David decided to ignore Buffett’s value investing principles and discover his own way to invest. 08:21 - Why he decided to break Buffett’s number one rule of investing. 11:01 - The story of David’s early investment in AOL, which rose by over 150x. 21:04 - Why David neglects the phrase, “long-term investor.” 28:36 - The six traits of rule breaker stocks and the six habits of the rule breaker investor. 40:11 - Why David prefers to buy stocks that professional commenters say are overvalued. 49:46 - Why the best companies are so good they almost seem to be cheating and don’t play by traditional rules. 01:00:42 - What conscious capitalism is and how it enables all parties in business to win. 01:27:49 - His Rule Breaker stock picks for 2025.

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.
David Gardner’s book: Rule Breaker Investing.
David’s company: The Motley Fool.
Matt Ridley’s book: The Rational Optimist.
John Macket’s book: Conscious Capitalism.
Related Episode: TIP385: Breaking the Rules w/ David Gardner.
Follow David on ⁠LinkedIn⁠ & ⁠X⁠.
Follow Clay on LinkedIn & X.
Related books mentioned in the podcast.
Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TECH001: AI for Activists w/ Justin Moon and Shroominic (Tech Podcast)

Wed, 17 Sep 2025 00:00:00 -0000

From Oslo's spotlight to global frontlines, Justin and Shroominic share how activists are harnessing AI for storytelling, translation, and rapid response while also navigating threats from authoritarian AI.

Explore the core building blocks, decentralized models, and how anyone can begin experimenting today.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:25 - What “vibe coding” is and why it’s a game-changer

02:43 - How a live website was built with voice commands in 8 minutes

04:26 - The core message behind the Oslo Freedom Forum AI demo

04:52 - How to start using AI today, even with zero technical skills

12:10 - What “AI for Activists” really means in practice

13:24 - Real examples of AI used for translation, response, and storytelling

15:10 - A surprising story of AI making a big impact for dissidents

21:14 - How authoritarian regimes are using AI—and how to counter them

24:04 - The foundational building blocks of modern AI

33:05 - A vision for AI’s future—empowering individuals over the state

BOOKS AND RESOURCES

Nostr Account: Justin Moon.
HRF’s program: AI for Individual Rights.
Newsletter: Financial Freedom Newsletter.
X Account: Shroominic.
Nostr Account: Shroominic.
Related website: routstr.
Related books mentioned in the podcast.
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TIP753: The Relentless Vision That Made McDonald’s a Global Giant w/ Kyle Grieve

Sun, 14 Sep 2025 00:00:00 -0000

On today’s episode, Kyle Grieve discusses the rise of McDonald’s under Ray Kroc and the vision, systems, and persistence that transformed a small burger joint into a global empire. He explores Kroc’s leadership style, business model innovations, and the timeless lessons investors and entrepreneurs can learn from McDonald’s journey.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:34 - The grit, adaptability, and salesmanship that made Ray Kroc unstoppable

14:42 - How a hot dog stand inspired the first McDonald’s restaurant

19:04 - Why protecting brand image was so vital to McDonald’s growth story

20:06 - How McDonald’s pivot to real estate fueled expansion

25:21 - Why standardization and systems powered McDonald’s rapid growth

28:49 - Why Kroc’s struggles with the McDonald brothers show alignment is critical

30:22 - What Jobs, Schultz, and Musk shared with Kroc as visionaries

33:54 - How McDonald’s thrived for decades despite fierce competition

40:51 - How Hamburger University aligned franchisees with Kroc’s vision

42:42 - The story behind McDonald’s product innovation successes and failures

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 Grinding It Out by Ray Kroc here.
Follow Kyle on Twitter and LinkedIn.
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TIP752: Financial Statements Explained Simply w/ Brian Feroldi

Fri, 12 Sep 2025 00:00:00 -0000

On today's episode, Clay brings back long-time guest, Brian Feroldi, to educate our listeners on how to analyze financial statements.

IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:58 - An overview of the three financial statements. 13:11 - What GAAP accounting is and why the US is a good environment for investors from a regulatory perspective. 18:08 - Why Brian prefers that companies pay employees in cash rather than through stock based compensation. 30:29 - Why each dollar should be treated differently when analyzing different businesses. 37:20 - The role of financial statements in estimating a company’s intrinsic value. 37:20 - Why the P/E ratio is a useless valuation metric for growth businesses. 40:33 - Why Brian prioritizes optionality in his investment process. 43:26 - Red flags to look out for in the financial statements. 58:02 - What David Gardner taught Brian about investing. 01:01:41 - Why good investing is all about marrying the right side of your brain with the left side of your brain.

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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Check out more financial statement visuals here.
Check out Long-Term Mindset.
Related Episode: TIP437: Why does the Stock Market Go Up? w/ Brian Feroldi.
Follow Brian on LinkedIn & X.
Follow Clay on ⁠LinkedIn⁠ & ⁠X⁠.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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BTC251 : Tech Abundance w/ Jeff Booth

Wed, 10 Sep 2025 00:00:00 -0000

Preston and Jeff discuss the expansion of the Bitcoin Fundamentals podcast to include cutting-edge topics like AI, robotics, and nuclear tech, all viewed through a Bitcoin and decentralization lens.

They examine the impact of exponential technological growth, open-source innovation, and international competition. The conversation closes with a powerful message: the future of tech must reconnect with human agency and identity.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:37 Why Preston is expanding the podcast beyond Bitcoin into broader tech themes.

04:07 - Why decentralized systems like Bitcoin are crucial in a high-tech world.

07:05 - Why deflation is natural in a free market and what’s preventing it.

09:00 - How AI and robotics are reshaping labor and automation.

12:50 - How open-source technologies challenge centralization.

17:00 - What Tesla’s Optimus robot signals about the future of automation.

18:49 - The role of international tech competition, especially from China.

24:33 - How synthetic environments are accelerating AI training for robotics.

34:19 - How demographic trends intersect with economic and tech paradigms.

40:29 - The vision of a hopeful tech future rooted in human consciousness.

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

BOOKS AND RESOURCES

Jeff’s Book: The Price of Tomorrow.
Nostr account: Jeff Booth.
Check out all the books mentioned and discussed in our podcast episodes⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP751: Mastermind Q3, 2025: Uber, Merck, and Bath & Body Works

Sun, 07 Sep 2025 00:00:00 -0000

In today's episode, Stig Brodersen is talking stocks with Tobias Carlisle and Hari Ramachandra. Stig’s pick is Uber, the world’s largest ride-hailing company. Tobias is pitching Bath & Body Works, a category leader in home and personal fragrance. Hari’s stock of choice is Merck, a pharmaceutical giant that owns the blockbuster oncology drug.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro 02:23 - Stig’s bull case for Uber (Ticker on NYSE: UBER). 17:15 - The bear case for Uber, including the regulatory risk. 58:37 - Why Hari is bullish on Merck (Ticker on NYSE: MRK). 01:12:10 - The bear case for Merck, including the “Keytruda patent cliff.” 01:17:32 - Why Toby is bullish on Bath & Body Works (Ticker on NYSE: BBWI). 01:27:10 - The bear case of Bath & Body Works, including the debt level. And so much more!

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.
Stig Brodersen’s Portfolio and Track record.
Listen to Shawn and Daniel’s episode about Uber.
Listen to Mastermind Discussion Q2, 2025 or watch the video.
Listen to Mastermind Discussion Q1, 2025 or watch the video.
Tobias' podcast, ⁠⁠⁠⁠⁠⁠⁠The Acquirers Podcast⁠⁠⁠⁠⁠⁠⁠.
Tobias' ETFs, ⁠⁠⁠⁠⁠⁠⁠ZIG⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠Deep⁠⁠⁠⁠⁠⁠⁠.
Tobias' Acquirer's Multiple stock screener: ⁠⁠⁠⁠⁠⁠⁠AcquirersMultiple.com⁠⁠⁠⁠⁠⁠⁠.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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TIP750: Generating Alpha, Digital Payments, & AI w/ Deiya Pernas

Fri, 05 Sep 2025 00:00:00 -0000

On today's episode, Clay is joined by Deiya Pernas to discuss his investing philosophy, why he sees opportunity for investors in the digital payments space, and why he is closely following developments in AI.

After a decade of experience in the investment industry, Deiya co-founded Pernas Research with his brother in 2023. Since January 2017, the Pernas portfolio has published audited net returns of 27.1% versus the S&P 500’s average annualized return of 14.7%.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro 01:44 - Pernas’ overall investing philosophy that has enabled them to crush the market. 04:49 - How we as investors can go about making predictions about an uncertain future. 09:00 - What poker taught Deiya about effective portfolio management. 15:12 - The importance of understanding working capital. 24:39 - Why Deiya is attracted to the digital payments space. 30:28 - An overview of why Deiya is long Remitly. 45:52 - Why Wise PLC isn’t a major threat to Remitly. 49:12 - Why Deiya is closely following developments in AI. And so much more!

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.
Related Episode: TIVP032: Remitly (RELY): Future Multibagger or Stablecoin Casualty? w/ Daniel Mahncke & Shawn O'Malley.
Follow Clay on LinkedIn & X.
Follow Deiya on LinkedIn & X.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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BTC250: Is This Bitcoin Bull Market Over w/ Tuur Demeester (Bitcoin Podcast)

Wed, 03 Sep 2025 00:00:00 -0000

Tuur Demeester returns to discuss his new report on Bitcoin's 2025 outlook. He and Preston unpack institutional accumulation, custodial confiscation risks, the macroeconomic backdrop, and how Bitcoin's role is evolving amid growing global uncertainty.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:02 - Why the current market doesn’t reflect a true speculative mania yet

04:11 - How institutions—not retail—are driving this bull cycle

05:38 - What the “hodler net position change” metric reveals about whale behavior

11:33 - How governments may quietly confiscate Bitcoin through custodians

22:41 - Why M2 money supply contraction exposes fiat’s Ponzi-like structure

27:41 - Bitcoin’s potential to replace gold as the global monetary anchor

33:01 - Why Wall Street's shallow engagement with Bitcoin’s tech is concerning

35:00 - How Lightning Network could disrupt stablecoin platforms

39:03 - The growing convergence of AI, Bitcoin mining, and energy infrastructure

46:07 - Why Bitcoin could genuinely reduce global conflict long term

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

BOOKS AND RESOURCES

X Account: Tuur Demeester.
Report: How To Position for the Bitcoin Boom by Tuur Demeester.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP749: Unlocking Hidden Investing Secrets From Basic Science w/ Kyle Grieve

Sun, 31 Aug 2025 00:00:00 -0000

On today’s episode, Kyle Grieve discusses how mental models from physics, chemistry, and biology can give investors and business leaders sharper decision-making tools. He’ll explore how applying these frameworks helps to identify opportunities, avoid risks, and build lasting advantages.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro 02:06 - How relativity helps investors see opportunities from different perspectives. 07:33 - Why inertia reveals which businesses stay great or stuck over decades. 09:29 - How momentum creates powerful flywheels in business and investing. 23:22 - When leverage accelerates growth or dangerously magnifies risk. 29:13 - How catalysts can rapidly unlock an investing thesis. 35:50 - Why ecosystems multiply value from a single input change. 41:52 - How niche strategies create outsized business advantages. 52:50 - Why honest versus dishonest signals matter for investors. 01:00:19 - How misaligned incentives quietly increase investment risk.

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.
Buy a copy of The Great Mental Models Part II: Physics, Chemistry and Biology here.
Follow Kyle on ⁠⁠Twitter⁠⁠ and ⁠⁠LinkedIn⁠⁠.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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Check out our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠We Study Billionaires Starter Packs⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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TIP748: The Netflix Playbook: Fewer Rules, Greater Results w/ Kyle Grieve

Fri, 29 Aug 2025 00:00:00 -0000

On today’s episode, Kyle Grieve discusses the radical culture that helped Netflix dominate Blockbuster and achieve massive long-term success. He explores lessons on talent density, candor, feedback, freedom, and responsibility that reveal how culture can become a company’s greatest competitive moat.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro 02:54 - Why fewer rules can unlock a company’s peak performance. 04:58 - The cultural failures that doomed Blockbuster against Netflix. 08:54 - How talent density drives innovation and rapid productivity gains. 10:40 - Why subtraction sometimes creates stronger, higher-performing teams. 15:14 - How candor accelerates decision-making and organizational efficiency. 25:02 - Netflix’s 4A framework for delivering and receiving feedback. 34:21 - Why “rockstar pay” beats incentive bonuses for top talent. 55:00 - How sunshining mistakes builds trust and stronger organizations. 58:02 - The Keeper Test for retaining only your best performers. 01:04:19 - Why leading with context—not control—fuels lasting innovation.

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.
Buy a copy of No Rules Rules here.
Related episode: TIP744: Hidden Monopolies w/ Kyle Grieve.
Follow Kyle on ⁠Twitter⁠ and ⁠LinkedIn⁠.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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BTC249: The Convergence of Bitcoin, AI, and Energy w/ Rod Roudi (Bitcoin Podcast)

Wed, 27 Aug 2025 00:00:00 -0000

Rod and Preston discuss Bitcoin’s rapid innovation, from ARK protocol transactions to new mining hardware. They examine custody solutions for Bitcoin treasuries, balancing institutional needs with community values, and preview the Custody & Treasury Summit and “Imagine If” event.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:01 - The latest Bitcoin innovations, including ARK protocol’s first transaction.

04:00 - Block’s new modular mining hardware and its market impact.

10:03 - Why custody solutions are critical for Bitcoin treasuries.

13:15 - The challenges and opportunities of institutional Bitcoin adoption.

15:05 - How Rod and Preston see Bitcoin custody evolving in the coming years.

23:02 - Insights into Bitcoin Park’s expansion from Nashville to Austin.

28:55 - The goals of the Custody & Treasury Summit and “Imagine If” summit.

33:10 - The vision for Nashville as a hub for Bitcoin, AI, and energy convergence.

36:05 - How AI tools are transforming workflows, events, and productivity.

45:20 - Plans for future summits and a 12-city tour to advance Bitcoin conversations.

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

BOOKS AND RESOURCES

Learn about the upcoming event at Bitcoin Park: Bitcoin Custody and Treasury Summit at Bitcoin Park.
Read about the details on the first-ever Bitcoin, AI, and Energy convergence event: Imagine IF (Bitcoin, AI, and Energy Summit) information.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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TIP747: John Neff: The Value Investor Who Quietly CRUSHED the S&P 500 w/ Kyle Grieve

Sun, 24 Aug 2025 00:00:00 -0000

On today’s episode, Kyle Grieve discusses legendary value investor John Neff, one of the most underrated investors in value investing, who quietly outperformed the S&P 500 for decades. You’ll learn more about Neff’s contrarian mindset, his focus on low PE stocks, and his disciplined yet unconventional approach, which shaped one of the most impressive track records in investing history.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:04 – The unconventional mindset that made John Neff a true contrarian investor

03:41 – Why “boring” businesses can be surprisingly beautiful wealth builders

04:18 – How lessons from his father and mentors shaped Neff’s investing philosophy

06:21 – The hidden danger of investment committees that drag down star performers

10:58 – The two simple categories Neff used to organize his view of the stock market

17:11 – Why Neff’s strategy leaned into dividends—and how that powered his outperformance

19:40 – The overlooked way he measured actual business value against the market

20:20 – How Neff found profits hiding in slow growers, cyclicals, and even high PE stocks

56:51 – The surprising blind spot of value investors who ignore compounders

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 John Neff on Investing here.
Buy a copy of Investing For Growth here.
Follow Kyle on Twitter and LinkedIn.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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TIP746: ASML: Europe's Tech Monopoly

Fri, 22 Aug 2025 00:00:00 -0000

In this episode, Clay unpacks the extraordinary rise of ASML — a little-known Dutch company that quietly became the most important player in global technology. Since its IPO in 1995, ASML has compounded at 20% annually.

ASML holds one of the most powerful monopolies on earth as it’s the sole manufacturer of EUV lithography machines, which make the world’s most advanced semiconductor chips. Without ASML, companies like Apple, NVIDIA, and TSMC couldn’t power iPhones, AI data centers, or the modern digital economy.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro 04:56 - How ASML grew from a Philips spinoff into Europe’s most important tech company. 13:31 - How ASML’s partnership with TSMC shaped the global semiconductor industry. 32:16 - Why ASML holds a near-monopoly on EUV lithography machines. 41:01 - Why the geopolitical tension between the US and China place ASML at the center of technology power struggles. 53:30 - How investors can view ASML’s growth, risks, and future opportunities. 01:00:23 - What makes ASML’s moat nearly impossible for competitors to replicate. 01:05:08 - The dual leadership that propelled ASML’s rise and built a culture of relentless focus. And so much more!

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.
Marc Hijink’s book: Focus: The ASML Way.
Related Episode TIP727: 7 Powers by Hamilton Helmer.
Related Episode TIVP024: TSMC: The Most Important Business in the World?.
Follow Clay on ⁠⁠X⁠⁠ and ⁠⁠LinkedIn⁠⁠.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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BTC248: Bitcoin’s Institutional Wave w/ Willy Woo, Max Kei, Efrat Fenigson, and Preston Pysh at Baltic Honeybadger (Bitcoin Podcast)

Wed, 20 Aug 2025 00:00:00 -0000

A sharp panel debates Bitcoin’s “institutional phase”: BlackRock’s ETF as catalyst, SEC policy shifts on in-kind redemptions, and the boom in corporate treasury strategies.

They probe Coinbase custody concentration, nationalization risks, Tether’s role, and why self-custody remains the antidote. AI’s influence on education and CBDCs vs private stablecoins round out a high-signal hour.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:11 - Why BlackRock’s spot ETF marked a cultural and capital tipping point.

05:31 - How SEC limits on in-kind redemptions and their reversal, shape market integrity.

08:56 - The difference between MicroStrategy’s preferred stock model vs convertible debt.

10:14 - Why concentrated Coinbase custody introduces fragility and what decentralizes it.

12:10 - The political “nationalization” risk and how institutions could be rugged.

17:45 - The case for denominating liabilities in fiat while stacking BTC.

19:50 - Pitfalls of copycat treasury companies timing the market (e.g., short-dated debt).

25:53 - How AI-driven discourse (e.g., Grok) accelerates Bitcoin education.

29:10 - Why private stablecoins (e.g., Tether) may outcompete CBDCs globally.

37:37 - The timeless lesson: make Bitcoin “un-ruggable” via self-custody.

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

BOOKS AND RESOURCES

P2P Bitcoin Trading Platform: Hodl Hodl.
Event details: Baltic Honeybadger Conference.
Conference sponsor: Debifi.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠.

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Check out our ⁠⁠⁠⁠⁠Bitcoin Fundamentals 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.
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SPONSORS

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RWH060: What Buffett, Munger & Bill Miller Taught Me w/ Robert Hagstrom

Sun, 17 Aug 2025 00:00:00 -0000

In this episode, William Green chats with Robert Hagstrom, Chief Investment Officer & Senior Portfolio Manager at Equity Compass. Robert is the author of a classic book, “The Warren Buffett Way,” which lays out the principles that made Buffett the greatest investor of all. Here, Robert shares life-changing lessons he learned from Buffett & two other icons: Charlie Munger & Bill Miller. He also explains why a focused, low-turnover portfolio is a brilliant but difficult strategy.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro 04:39 - How Robert Hagstrom became a multidisciplinary thinker. 08:09 - How to think better & invest better by tuning out the noise. 26:01 - What mistake Warren Buffett made most frequently. 35:30 - Why AI falls short when it comes to investment decisions. 35:30 - Why Nvidia is Robert’s biggest holding. 01:04:49 - How Miller endured & recovered from a devastating mistake. 01:14:43 - What insights led Bill Miller to make billions in Amazon & Bitcoin. 01:32:04 - Why it’s smart but really hard to own a concentrated portfolio. 01:34:29 - Why Robert views Modern Portfolio Theory with disdain. 01:42:23 - What advice Robert received from investing giant Bill Ruane. 01:48:06 - Why you should be deeply wary of investing in private equity. 02:04:04 - What life lesson Robert has learned from Buffett.

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.
Robert Hagstrom’s investment firm, Equity Compass Investment Management.
Robert Hagstrom's books: The Warren Buffett Way, The Warren Buffett Portfolio, Investing: The Last Liberal Art.
Mortimer Adler's How to Read a Book.
Louis Menand's The Metaphysical Club.
William Green’s podcast interview with Bill Miller.
William Green’s podcast interview with Bill Nygren.
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.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠.
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Browse through all our episodes (complete with transcripts) ⁠⁠⁠⁠here⁠⁠⁠⁠.
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TIP745: Best Quality Stock Idea Q3 2025 w/ Clay Finck

Fri, 15 Aug 2025 00:00:00 -0000

On today’s episode, Clay Finck breaks down his best quality stock idea for Q3 2025: Amazon.

Clay explores how Amazon has evolved from a low-margin online retailer into a diversified, high-margin tech platform. He also makes the case as to why Big Tech may be systemically undervalued, providing a unique opportunity for investors willing to ride out the higher levels of stock price volatility.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro 03:02 - Why Big Tech, despite its size, may be systemically undervalued. 15:16 - How Amazon evolved from a low-margin online retailer into a high-margin tech platform. 25:11 - The three megatrends Amazon is positioned to benefit from. 29:17 - A breakdown of Amazon’s four main business segments: Retail, AWS, Advertising, and Prime. 50:02 - Amazon’s key competitive advantages and culture of reinvention. 55:07 - How we view Amazon’s valuation today. And so much more!

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.
MBI Deep Dives: ⁠Amazon⁠.
The Intrinsic Value Podcast ⁠episode⁠ on Amazon.
Daniel’s ⁠model⁠ for Amazon.
⁠The Systemic Undervaluation of Big Tech⁠.
Mentioned Episode ⁠TIP727: 7 Powers by Hamilton Helmer⁠.
Related Episode ⁠TIP722: Best Quality Idea Q2 2025⁠.
Related Episode ⁠TIP698: Best Quality Idea Q1 2025⁠.
Related Episode ⁠TIP675: Best Quality Idea Q4 2024.
Related Episode ⁠TIP652: Best Quality Idea Q3 2024.
Follow Clay on ⁠X⁠ and ⁠LinkedIn⁠.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

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BTC247: Bitcoin's evolution with Traditional Finance w/ Jon Melton (Bitcoin Podcast)

Wed, 13 Aug 2025 00:00:00 -0000

Preston sits down with Jon Melton to explore his shift from Morgan Stanley to Bitcoin, insights on Silvergate Bank’s crypto strategy, and the future of Bitcoin-backed finance.

They delve into lending models, the impact of regulation, and how Jon sees banks engaging with digital assets going forward.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

04:31 - How Jon transitioned from Morgan Stanley to the Bitcoin world.

06:32 - The impact of Wences Casares on Jon’s Bitcoin conviction.

08:43 - What made Zappo a pioneer in Bitcoin custody.

09:42 - Silvergate Bank’s unique approach to cryptocurrency banking.

14:50 - Reasons behind Silvergate’s decision to wind down operations.

20:09 - The importance of over-collateralization in Bitcoin lending.

23:10 - Why Unchained avoids rehypothecation in its lending model.

27:25 - How Bitcoin loans might integrate with real estate in the future.

33:38 - The Federal Reserve vs. Treasury Department on stablecoin policy.

37:49 - Why Jon remains bullish on Bitcoin and its role in future finance.

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

BOOKS AND RESOURCES

Website: Unchained Capital.
Related Article: Revisiting Unchained’s Core Lending Principles by Jon Melton.
Related article: Core Lending Principles.
Related article: The Plot to Destroy Silvergate by Nic Carter.
Related Video: Banking, Crypto, and an Upcoming Regulatory Overhaul with Caitlin Long and John Maxfield.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠.

Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

Join the exclusive ⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: ⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠ | ⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠ | | ⁠⁠⁠⁠Instagram⁠⁠⁠⁠ | ⁠⁠⁠⁠Facebook⁠⁠⁠⁠ | ⁠⁠⁠⁠TikTok⁠⁠⁠⁠.
Check out our ⁠⁠⁠⁠Bitcoin Fundamentals Starter Packs⁠⁠⁠⁠.
Browse through all our episodes (complete with transcripts) ⁠⁠⁠⁠here⁠⁠⁠⁠.
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Enjoy exclusive perks from our ⁠⁠⁠⁠favorite Apps and Services⁠⁠⁠⁠.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠.
Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠.

SPONSORS

Support our free podcast by supporting our ⁠⁠⁠⁠sponsors⁠⁠⁠⁠:

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

TIP744: Hidden Monopolies w/ Kyle Grieve

Sun, 10 Aug 2025 00:00:00 -0000

On today’s episode, Kyle Grieve discusses a thought-provoking framework that redefines competitive advantage through the lens of customer loyalty. Kyle breaks down the five types of customer loyalty moats, introduces the Moat Strength Index (MSI), and explains how investors can use this approach to measure, monitor, and deepen their conviction in high-quality businesses.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:45 – Why scale effects are ineffective against disruption via innovation

06:22 – Why having high customer loyalty is so powerful as an advantage vs competitors

10:01 – The five customer loyalty moats you must know

17:15 – Why ecosystem moats are so hard to build, but generate significant customer loyalty

18:53 – How platform moats generate powerful customer loyalty between multiple parties

20:08 – How can we objectively measure a company's moat using customer loyalty advantages

23:09 – The nine failures in using retention-like KPI’s

25:31 – The three barriers that create customer loyalty

26:57 – Why the moat score index is such a handy tool for measuring moat

47:17 – How customer loyalty moats can be disrupted

And so much more!

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.
Buy a copy of Hidden Monopolies here.
Listen to TIP694 The Scuttlebutt Edge here.
Follow Kyle on Twitter and LinkedIn.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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TIP743: Should Value Investors Own Index Funds?

Fri, 08 Aug 2025 00:00:00 -0000

In this episode, Clay shares John Bogle’s timeless philosophy of passively investing in low-cost index funds. Bogle, the founder of Vanguard, helped spark a global movement that has made investing more accessible and cost-effective. Today, Vanguard manages over $10 trillion in assets, and Bogle’s simple approach has been adopted by millions worldwide, collectively saving investors trillions of dollars in fees over the years.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro 03:34 - How John Bogle’s index fund philosophy revolutionized investing. 05:46 - Why most active mutual fund managers underperform the S&P 500 over time. 25:11 - How to estimate realistic future returns for the S&P 500. 31:50 - How fees and taxes quietly erode investment returns. 50:23 - Why index funds are easier to hold onto during market crashes. 52:11 - Why Clay chose not to invest in index funds at this point in his investment journey.

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.
John Bogle’s book, The Little Book of Common Sense Investing.
Nick Magguilli’s book, Just Keep Buying.
Related Episode: MI167: The Bogle Effect w/ Eric Balchunas.
Related Episode: TIP709: The Art of Long-Term Investing w/ Francois Rochon.
Related Episode: TIP734: My Investment Philosophy w/ Clay Finck.
Follow Clay on X and LinkedIn.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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NEW TO THE SHOW?

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BTC246: The Future of Insurance using Bitcoin w/ Becca Rubenfeld & Rob Hamilton (Bitcoin Podcast)

Wed, 06 Aug 2025 00:00:00 -0000

Becca and Rob from AnchorWatch join Preston to unpack the future of Bitcoin custody and insurance. They explore multisig security, time-locked vaults, inheritance planning, insured yield products, and how institutional players like banks and insurers are adopting crypto through innovative custody models, convertible debt strategies, and reinsurance collaborations.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

09:26 - How AnchorWatch uses Miniscript and multisig for Bitcoin custody

15:20 - Why Bitcoin is gaining traction in institutional asset management

19:07 - AnchorWatch’s approach to inheritance and asset protection

27:05 - What Fannie Mae and Freddie Mac's crypto guidance means for lending

39:51 - How Bitcoin custody is evolving to resemble traditional banking

40:28 - How insurance firms are gaining Bitcoin exposure via convertible debt

45:22 - The potential for Bitcoin-denominated insurance products

46:05 - AnchorWatch's collaboration with institutional partners like Allianz

47:07 - Yield opportunities in insured Bitcoin pools

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

BOOKS AND RESOURCES

Website: AnchorWatch.
X Account: Rob Hamilton.
X Account: Becca Rubenfeld.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠here⁠⁠⁠⁠.
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TIP742: Invest like a Business Owner w/ David Fagan

Sun, 03 Aug 2025 00:00:00 -0000

In this episode, Stig Brodersen speaks with David Fagan, a successful entrepreneur and investor, about the powerful overlap between building businesses and investing in public markets. They explore why business owners often think differently about diversification, dividends, and risk—and how habits, friendships, and clarity of purpose shape long-term success in both business and life.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

05:35 – Why some business owners often become better investors through firsthand experience with risk, volatility, and capital allocation.

14:57 – The blind spots business owners have when they enter the world of investing.

23:09 – Why you might shift your attitude toward dividends after experiencing firsthand how brutal capitalism is.

28:30 – David shares the daily habits that help him stay grounded, including exercise, reading, and reflection.

35:49 – A different take on “you are the average of the five people you spend the most time with”—and the tradeoffs of seeking higher-caliber peers.

37:51 – Why financial independence raises deeper questions about purpose, relationships, and long-term alignment in life and work.

59:06 – When (and how) to go into business with friends: lessons from real stories about incentives, equity splits, and mutual expectations.

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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Listen to our interview with David Fagan about Buffett’s favorite business book.
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TIP741: The Intrinsic Value of Uber & Reddit w/ Shawn O'Malley

Fri, 01 Aug 2025 00:00:00 -0000

On today's episode, Clay is joined by Shawn O'Malley to discuss his work on The Intrinsic Value Podcast and two key holdings from The Intrinsic Value Portfolio.

Shawn recently launched The Intrinsic Value Podcast alongside co-host Daniel Mahncke, where they conduct weekly deep dives into companies while building their own concentrated portfolio of 20 holdings.

In this conversation, they explore Reddit's transformation from an unprofitable tech IPO to a rapidly growing, cash flow positive business, and examine Uber's dominant market position and diversified revenue streams.

IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:01 - Shawn's process for conducting weekly company deep dives on The Intrinsic Value Podcast. 16:14 - How Reddit transformed from an unprofitable IPO to a rapidly growing cash flow positive business. 29:27 - How Reddit’s user base presents unique challenges for its advertising business. 44:11 - Why Bill Ackman invested $2 billion in Uber’s stock. 52:29 - Why Uber is well-positioned to benefit from the trend to autonomous vehicles. 01:00:57 - An overview of Uber’s billion-dollar advertising business. 01:05:18 - Shawn’s intrinsic value target price for Uber. And so much more!

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.
Check out The Intrinsic Value Podcast.
Check out The Intrinsic Value Newsletter.
Check out The Intrinsic Value Community.
Related Episode: TIVP014: Reddit (RDDT): Valuing the Front Page of the Internet Shawn O’Malley & Daniel Mahnke.
Related Episode: TIVP016: Uber (UBER): Cash Burner to Compounder? Shawn O’Malley and Daniel Mahnke.
Follow Clay on LinkedIn & X.
Follow Shawn on LinkedIn & X.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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BTC245: The Next Metaplanet? (Smarter Web Company) w/ Jesse Myers and Andrew Webley

Wed, 30 Jul 2025 00:00:00 -0000

Andrew and Jesse join Preston to discuss Smarter Web’s transformation into a major Bitcoin Treasury firm, UK market dynamics, valuation strategies, and future growth plans, including preferred shares.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

14:02 - What is MNAV and why is it a crucial metric for valuing Bitcoin Treasury firms?

35:20 - How does Smarter Web plan to maintain its lead in the UK Bitcoin market amid rising competition?

49:52 - What are the benefits and risks of investing in a Bitcoin Treasury company versus Bitcoin directly?

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

BOOKS AND RESOURCES

Slides presented (Part 1).
Slides presented (Part 2).
Smarter Web Company's Website.
Smarter Web Company's X Account.
Andrew’s X Account.
Jesse's ⁠X Account⁠.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠here⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠Premium Feed⁠⁠.

NEW TO THE SHOW?

Join the exclusive ⁠⁠TIP Mastermind Community⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: ⁠⁠X (Twitter)⁠⁠ | ⁠⁠LinkedIn⁠⁠ | | ⁠⁠Instagram⁠⁠ | ⁠⁠Facebook⁠⁠ | ⁠⁠TikTok⁠⁠.
Check out our ⁠⁠Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠The Intrinsic Value Newsletter⁠⁠.
Learn how to better start, manage, and grow your business with the ⁠⁠best business podcasts⁠⁠.

SPONSORS

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

TIP740: The Great Mental Models Part 1

Sun, 27 Jul 2025 00:00:00 -0000

On today’s episode, Kyle Grieve discusses the power of mental models, how they sharpen our thinking, and how they improve our decision-making in investing and everyday life. He explores various key concepts in general thinking, including the circle of competence, inversion, first-principles thinking, probabilistic thinking, and more.

IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:01 - What exactly are mental models? 04:37 - The three failures people have with interacting with reality. 08:43 - A simple 6-step framework for making mentals into a habit. 17:45 - How to utilize what you already know to gain an edge. 29:40 - The importance of thinking in first principles to improve your ability to innovate and simplify. 36:10 - How to use thought experiments to analyze a business. 41:14 - Why using second-order thinking can rapidly enhance your quality of thinking. 49:46 - How probabilistic thinking helps make sense of a dynamic world. 58:54 - Why spending time thinking about a problem backwards can improve your upside. 01:04:57 - Why you should focus on simple solutions over complex ones. And so much more!

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.
Buy a copy of The Great Mental Models Vol. 1 here.
Read Shane Parrish’s blog here here.
Follow Kyle on ⁠X⁠ and ⁠LinkedIn⁠.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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TIP739: The Psychology Of Human Misjudgement

Fri, 25 Jul 2025 00:00:00 -0000

On today’s episode, Kyle Grieve discusses Charlie Munger’s legendary speech, The Psychology of Human Misjudgment, and unpacks all 25 of his cognitive biases that often lead even the most intelligent people to make poor decisions. Drawing from Poor Charlie’s Almanack, Kyle explores how these psychological tendencies—like incentive-caused bias, social proof, and inconsistency avoidance—can distort our thinking in business, investing, and everyday life. He blends Munger’s timeless wisdom with real-world investing examples, personal experiences, and practical strategies to help listeners make better, more rational decisions.

IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 03:02 - Why incentives quietly override moral behavior. 06:32 - Why liking and disliking an investing thesis can distort reality. 09:54 - Why doubt avoidance cause investors to take significant risks in things like IPOs. 12:07 - How inconsistency avoidance causes a lazy creep into our thinking processes. 24:38 - How to avoid the destructive effects of reciprocation. 32:49 - The dangers of overestimating our abilities. 37:44 - Why jumping off a sinking ship beats trying to patch it up. 45:58 - Why contrasting stock prices in exuberant markets evaporates margins of safety. 59:41 - Why investors should choose simplicity > complexity. 01:01:43 - Why you should search for Lollapalooza effects in business. And so much more!

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.
Buy a copy of Poor Charlie’s Almanack here.
Read about Charlie’s Psychology of Human Misjudgement here.
Watch Charlie’s presentation on The Psychology of Human Misjudgement here.
Follow Kyle on X and LinkedIn.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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BTC244: Bitcoin Mastermind Discussion Q2 2025 w/ Joe Carlasare, HODL, and Jeff Ross (Bitcoin Podcast)

Wed, 23 Jul 2025 00:00:00 -0000

Bitcoin market insights, Treasury trends, stablecoin regulation, and bold predictions for Bitcoin's future.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:21 - How global liquidity and leverage affect Bitcoin's market performance

08:56 - The evolving role and risks of Bitcoin Treasury companies

17:26 - Why stablecoin regulations are reshaping digital finance

18:35 - What the Genius Act means for bank and non-bank stablecoin issuers

21:03 - How Tether and JPM are responding with gold tokens and Layer 2 solutions

24:50 - Why the Base network's centralization raises concerns

27:45 - Differing views on the US dollar's future amid AI-driven economic shifts

35:30 - Long-term predictions for Bitcoin and gold prices

40:33 - The strategic role of Bitcoin options trades

48:06 - Legal strategies for enforcing advertising contract disputes

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

BOOKS AND RESOURCES

Related Episode: ⁠Bitcoin Mastermind 1st Quarter 2025⁠.
Related Episode: ⁠⁠Bitcoin Mastermind 4th Quarter 2024⁠⁠.
American Hodl on ⁠Nostr⁠.
Jeff Ross on ⁠Nostr⁠.
Joe Carlasare on ⁠X (Twitter)⁠, ⁠Nostr⁠.
Check out all the books mentioned and discussed in our podcast episodes ⁠here⁠.
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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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠The Intrinsic Value Newsletter⁠.
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SPONSORS

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RWH059: Ask Me Anything w/ William Green

Sun, 20 Jul 2025 00:00:00 -0000

In this unusually personal and candid episode, William Green answers a wide range of probing questions posed by listeners to his podcast and readers of his book, “Richer, Wiser, Happier: How the World’s Greatest Investors Win in Markets & Life.” Here, William discusses the key qualities, principles, and practices he’s observed in the best investors; how they handle adversity; what he’s learned from his own setbacks, failures, and mistakes; and how he’d invest if he were starting over.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro 01:19 - What were the three best decisions William Green ever made? 17:04 - What Charlie Munger and Bill Miller can teach us about handling adversity. 23:40 - Why he views indomitable perseverance as the key to success. 34:52 - What drives investing stars like Bill Ackman, Will Danoff, and Mario Gabelli. 48:19 - Why the best investors focus on reducing complexity. 01:03:58 - How to succeed while constructing a calmer, more spacious life. 01:12:50 - How William approaches the art of interviewing. 01:38:22 - What he learned when his career (and profession) went up in smoke. 01:48:39 - What his worst investment mistakes taught him about building wealth. 01:53:28 - How investors can prosper mightily by getting the big things right. 01:55:23 - How he’d invest if he were starting over again.

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.
William Green’s podcast interview with Annie Duke.
William Green’s podcast interview with Samantha McLemore.
William Green’s podcast interview with Tsoknyi Rinpoche & Daniel Goleman.
William Green’s podcast interview with Bill Nygren.
William Green’s podcast interview with Brad Stulberg.
Guy Spier's The Education of a Value Investor.
Marcus Aurelius' Meditations.
Jim Stockdale's Thoughts of a Philosophical Fighter Pilot.
Daniel Goleman & Richard Davison's Altered Traits.
Daniel Goleman & Tsoknyi Rinpoche's Why We Meditate⁠.
William Green’s ⁠TEDx Talk⁠.
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.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠Premium Feed⁠⁠⁠.

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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.
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SPONSORS

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TIP738: Heico: The Quiet Aerospace Compounder

Fri, 18 Jul 2025 00:00:00 -0000

In this episode, Clay dives deep into the remarkable story of Heico — a quiet compounder that’s delivered over 22% annual returns for more than three decades. While aerospace may seem like a commoditized or slow-moving industry, Heico flips that assumption on its head.

Clay breaks down how the Mendelson family transformed a struggling parts supplier into a $38 billion industry leader through exceptional capital allocation, a culture of ownership, and a nearly unbreakable moat built on regulatory mastery and being a partner that customers can trust. Whether you're an investor, entrepreneur, or business strategist, this episode offers timeless lessons on how to build and sustain a truly durable business.

IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:27 - The story of how the Mendelsons took a tiny parts supplier and turned it into a $38B aerospace powerhouse. 06:47 - How Heico turned strict FAA regulations into its biggest competitive advantage. 10:10 - Why airlines prefer Heico parts over the OEM alternatives. 17:50 - What makes Heico’s acquisition playbook similar to Berkshire Hathaway. 27:58 - Why Heico’s products and services are extremely sticky and provide predictable, recurring revenue streams. 37:25 - Why economic downturns benefit Heico, creating a countercyclical business model. 47:19 - How Heico’s culture is unique and has created hundreds of millionaire factory workers. And so much more!

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.
Interview with Eric Mendelson.
50x Podcast with Nick Howley.
Book mentioned: Lessons from the Titans.
Related Episode: TIP731: Owning Best-In-Class Businesses w/ Joseph Shaposhnik.
Related Episode: TIP709: The Art of Long-Term Investing w/ Francois Rochon.
Follow Clay on X and LinkedIn.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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Try our tool for picking stock winners and managing our portfolios: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Finance Tool⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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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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BTC243: Jim Chanos Vs Pierre Rochard MSTR mNAV debate (Bitcoin Podcast)

Wed, 16 Jul 2025 00:00:00 -0000

Jim Chanos and Pierre Rochard face off on Bitcoin-native corporates, debating governance, valuation models, capital structure, and whether BTC on the balance sheet adds value or risk.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:27 - Why Jim Chanos is short BTC companies but long Bitcoin itself

05:44 - Pierre Rochard's view on using corporate debt/equity to acquire BTC

13:03 - Capital structure tools best suited for BTC-native companies

14:12 - Whether BTC treasuries offer more than just bull-market beta

19:23 - The risks of NAV premiums and misaligned management incentives

20:16 - Debate over proper valuation frameworks: NAV vs. cash flow

24:30 - Could BTC treasuries evolve into financial infrastructure—or stay niche?

26:25 - The systemic implications of too many firms holding BTC on balance sheets

36:22 - 2030 predictions: spot BTC vs. BTC-native equities vs. ETFs

40:17 - What a “responsible” BTC treasury strategy could look like

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

BOOKS AND RESOURCES

Jim’s X Account.
Pierre’s X Account.
Related Episode: Bitcoin Energy Survey and the Speculative Attack w/ Pierre Rochard.
Check out all the books mentioned and discussed in our podcast episodes⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Check out our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bitcoin Fundamentals 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.
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TIP737: Margin Of Safety by Seth Klarman w/ Kyle Grieve

Sun, 13 Jul 2025 00:00:00 -0000

On today’s episode, Kyle Grieve discusses the principles of value investing, including how to distinguish between speculation and true investing, the dangers of Wall Street's incentive structures, and the importance of prioritizing downside protection over upside potential. We’ll also delve into discipline for value investing, how to develop a margin of safety mindset, and how to build a risk-averse strategy and portfolio.

IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 05:04 - Why most investors speculate rather than invest—and how to tell the difference

11:01 - Why fund managers have structural weaknesses that require them to prioritize the wrong things

13:26 - Why EBITDA can mislead—and how it hides a business’s actual condition

16:46 - Why value investors focus more on downside protection than upside potential

18:47 - How to think about margin of safety when constructing a portfolio

31:51 - The three temperamental traits most critical to successful value investing

36:38 - Why value investors hold cash and how they use it as a strategic weapon

44:00 - A detailed breakdown of how Klarman values businesses

20:06 - The major types of value opportunities—and where to find them

1:02:49 - Klarman’s perspective on diversification and intelligent position sizing

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.
Buy a copy of Margin of Safety here.
Follow Kyle on Twitter and LinkedIn.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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TIP736: How the Best Investors Execute w/ Clay Finck

Fri, 11 Jul 2025 00:00:00 -0000

In this episode, Clay reviews Lee Freeman-Shor's book — The Art of Execution. Freeman-Shor studied 45 of the world's top investors over seven years, revealing why investment success depends far more on execution than stock picking. Through analysis of nearly 1,000 investments, he discovered that even the best investors are wrong half the time, but their success comes from how they handle both winners and losers. This episode provides essential lessons on the execution strategies that determine long-term investment success.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro 06:07 - The three types of investor behaviors when facing losing positions and their outcomes. 08:37 - The psychological biases that trap investors in losing positions for years. 11:48 - Why even the world's best investors are wrong 51% of the time. 38:17 - Why selling winners early is more damaging than holding losers too long. 56:25 - How concentration beats diversification for generating superior long-term returns. 58:42 - Why execution matters more than stock picking for investment success. 01:00:36 - The five-point winner's checklist for executing investment strategies like top performers. And so much more!

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.
Lee Freeman-Shor’s book: The Art of Execution.
Michael Lewis’ book: Moneyball.
The Intrinsic Value Podcast.
Shawn and Daniel’s episode on Reddit.
Related Episode: TIP709: The Art of Long-Term Investing w/ Francois Rochon.
Follow Clay on X and LinkedIn.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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BTC242: Bitcoin Core Vs. Knots w/ NVK (BItcoin Podcast)

Wed, 09 Jul 2025 00:00:00 -0000

Preston Pysh welcomes back NVK, renowned Bitcoin expert and founder of Coinkite, for an in-depth conversation on the future of Bitcoin, the evolving dynamics of its core development, and the promising rise of decentralized platforms like Nostr.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:01 - How Bitcoin's increasing price may sustain mining incentives post-halving

09:37 - The evolution from Satoshi’s original code to the current Bitcoin Core

14:15 - Insights into Bitcoin Knots and the separation of wallet and consensus code

19:41 - Critiques of Bitcoin’s development scene and current conference culture

20:09 - The controversy surrounding Bitcoin Core’s GitHub governance

24:22 - Debates around removing the OP_RETURN 83-byte limit

32:23 - Nostr’s potential to revolutionize identity and AI communication

35:45 - Key adoption challenges facing Nostr and possible solutions

44:44 - The philosophy and features behind Coinkite’s hardware wallets

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

BOOKS AND RESOURCES

NVK’s Company: ColdCard Bitcoin Hardware Wallets.
Join NOSTR at Primal.
Check out all the books mentioned and discussed in our podcast episodes⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
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Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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

TIP735: Compounding with Character w/ Guy Spier

Sun, 06 Jul 2025 00:00:00 -0000

In this episode, Stig Brodersen speaks with Guy Spier who has outperformed the S&P 500 since 1997, with a 9.6% vs. 8.8% CAGR. They explore why Guy invested in The Economist, and how friendships, service, and living by an inner scorecard guide his life and investment philosophy.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:27 - Why Guy Spier decided to invest in The Economist.

13:16 - How Guy is living by his inner scorecard.

55:16 - Why friendships are there for a reason, a season, or a lifetime.

55:16 - How does Guy invest in friendships?

01:09:03 - How to facilitate thoughtful conversations with friends.

01:22:03 - How do you seek wisdom?

01:44:04 - How do you identify how to best be of service?

01:57:43 - What money can and can’t buy you.

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.
Stig’s interview with Guy Spier about his track record and risk.
Stig’s interview with Guy Spier about investing and life.
Stig and Preston’s interview with Guy Spier on his book, The Education of a Value Investor.
Stig and Preston’s interview with Guy Spier about his lunch with Warren Buffett.
Guy Spier’s book, The Education of a Value Investor – Read reviews of the book.
Subscribe to Guy Spier’s Free Newsletter.
Guy Spier’s podcast and website.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

TIP734: My Investment Philosophy w/ Clay Finck

Fri, 04 Jul 2025 00:00:00 -0000

In this episode, Clay shares the key principles behind his personal investment approach. His approach has been shaped by over a decade of experience and lessons from great investors like Charlie Munger, Nick Sleep, and Chris Mayer. He explains how he builds a portfolio focused on high-quality businesses and long-term compounding. It’s a candid look at how he filters out the noise and plays the game on his own terms.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:19 - How Clay defines and pursues financial independence through investing.

05:22 - The lessons Clay learned from Charlie Munger, Nick Sleep, and Chris Mayer.

08:35 - How Clay constructs and thinks about his personal portfolio.

16:22 - Why great businesses often beat cheap stocks over the long run.

27:05 - What “sidecar investing” means and how to apply it.

58:08 - The importance of simplicity and ignoring market noise.

01:04:26 - Why patience may be the biggest edge in investing.

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.
Richard Zechhauser’s paper: Investing in the Unknown and Unknowable.
Related Episode: TIP598: A Tribute to Charlie Munger.
Related Episode: TIP492: The Best Investor You've Never Heard Of (Nick Sleep).
Related Episode: TIP677: Why Most Stocks Will Lose You Money w/ Hendrik Bessembinder.
Related Episode: TIP713: Why Serial Acquirers Outperform w/ Niklas Savas.
Clay’s podcast episode on Constellation Software.
Clay’s podcast episode on Topicus.
Clay’s podcast episode on Dino Polska.
Clay’s podcast episode on Booking Holdings.
Clay’s video on Lumine.
Follow Clay on X and LinkedIn.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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BTC241: Bitcoin Treasury Companies w/ James Check (Checkmate) Bitcoin Podcast

Wed, 02 Jul 2025 00:00:00 -0000

James and Preston dissect the evolving cryptocurrency landscape—from market structure transitions and on-chain data missteps to Bitcoin mining incentives and the cutting-edge strategies behind Bitcoin Treasury companies.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:47 - Lessons learned from the 2020-2021 crypto cycle

04:59 - Why the crypto market is shifting from spot to leverage-driven models

05:54 - The role of futures and ETFs in today’s low-activity network

10:42 - How mining subsidies influence innovation and decentralization

14:08 - Why fees are crucial for protecting Bitcoin from censorship

19:32 - How Bitcoin’s dominance affects altcoin cycles

26:35 - Insights into tokenized sovereign debt and blockchain scalability

32:15 - The potential long-term shift in global KYC regulations

33:13 - The rise and risks of Bitcoin Treasury companies

38:53 - Key differences between MicroStrategy and competitors

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

BOOKS AND RESOURCES

Related resource: Checkmate’s substack.
Check out all the books mentioned and discussed in our podcast episodes⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Check out our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bitcoin Fundamentals 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.
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Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

SPONSORS

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

TIP733: How Warren Buffett Became Warren Buffett

Sun, 29 Jun 2025 00:00:00 -0000

On today’s episode, Kyle Grieve discusses how Warren Buffett evolved from a young entrepreneur with an intense fascination for numbers into one of history’s most disciplined and independent investors. The episode explores the key influences, early lessons, and defining choices that shaped his unique approach to business and capital allocation.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:04 - How Buffett showed business instincts as a young boy

03:44 - How Buffett used scuttlebutt early in his career

04:26 - The influence Buffett’s father had on his mindset

11:06 - Three timeless principles Buffett learned from Ben Graham

19:11 - The period Buffett compounded at over 50% annually

23:49 - How a “cigar butt” taught Buffett pricing power

29:33 - Why Buffett embraced concentrated investing from the start

45:14 - Why Buffett saw media companies as modern-day toll bridges

54:02 - Buffett’s core disagreement with efficient market theory

1:00:00 - What Buffett learned while rescuing Salomon Brothers

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.
Buy a copy of Buffett: The Making of an American Capitalist here⁠.
Follow Kyle on ⁠⁠⁠X⁠⁠⁠ and ⁠⁠⁠LinkedIn.⁠⁠⁠
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Check out our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠We Study Billionaires Starter Packs⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Browse through all our episodes (complete with transcripts) ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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SPONSORS
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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!

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

TIP732: The Mindset and Skills That Build Investing Legends w/ Ian Cassel

Fri, 27 Jun 2025 00:00:00 -0000

On today’s episode, Kyle Grieve chats with Ian Cassel about what separates good, great, and GOAT investors by breaking down the five core skills of stock picking. We'll also explore how elite investors evolve, avoid common traps, and develop underappreciated edges that compound into long-term outperformance.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:30 - What sparked Ian’s obsession with investor greatness.

07:41 - The two metrics that reveal actual investing skill.

13:07 - Why radical self-honesty drives long-term improvement.

16:41 - The track records that define good, great, and GOAT investors.

19:09 - What a jiu-jitsu legend taught Ian about mastery.

19:09 - Five core skills every top investor must develop.

36:19 - Why staying the same means falling behind.

44:16 - Hidden skills that give GOATs an unfair edge.

01:08:16 - The rare skill Ian leverages for outperformance.

01:11:15 - Offense vs. defense: applying it to your portfolio.

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.
Read Ian’s MicroCapClub Newsletter here.
Check out the MicroCapClub here.
Learn about MicroCapClub’s free events here.
Follow Kyle on ⁠X⁠ and ⁠LinkedIn.⁠
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠.
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Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠⁠⁠.
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.
Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠.

SPONSORS

Support our free podcast by supporting our ⁠sponsors⁠:

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

BTC240: Economic Calculation w/ Bitcoin with Joe Burnett and Chris Nicholson (Bitcoin Podcast)

Wed, 25 Jun 2025 00:00:00 -0000

Preston sits down with Chris and Joe to explore how Bitcoin is changing the way we think about corporate treasuries, asset valuation, and investment risk.

They dive into the STRIVE report, debate traditional financial models, and propose new frameworks for evaluating assets in a Bitcoin-denominated world.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:58 - How Bitcoin reshapes asset valuation and opportunity cost analysis

10:23 - Why Internal Rate of Return (IRR) is crucial for comparing investments in a Bitcoin world

13:05 - The challenges of applying traditional DCF models to Bitcoin

20:45 - The concept and implications of the equity stability premium

22:59 - How Bitcoin’s volatility can be reframed as an asset rather than a liability

26:19 - Why volatility perceptions differ between traditional finance and Bitcoin maximalists

31:08 - How Bitcoin adoption trends impact valuation and investment strategy

08:29 - Preston’s personal journey in reevaluating valuation models using Bitcoin

40:46 - Portfolio risk management principles involving Bitcoin and traditional assets

50:06 - Insights from the STRIVE report on future asset valuation frameworks

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

BOOKS AND RESOURCES

Joe's X Account.
Chris' X Account.
The Strive Report on: The Case for Bitcoin in Corporate Treasuries.
The Unchained Report: Repricing the Economy in Bitcoin.
Check out all the books mentioned and discussed in our podcast episodes⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Check out our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

SPONSORS

Support our free podcast by supporting our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠sponsors⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠:

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

RWH058: Winning Ways w/ Bill Nygren

Sun, 22 Jun 2025 00:00:00 -0000

In this episode, William Green chats with investing legend Bill Nygren, who oversees about $25 billion at Harris Associates. Bill is the firm’s Chief Investment Officer for US Equities & co-manages two flagship mutual funds: Oakmark Select & Oakmark Fund. Here, he discusses the processes, principles, habits & mindset that have enabled him to beat the market over three decades.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

05:32 - How Bill Nygren became a contrarian bargain hunter.

18:05 - Why sports gambling companies often refuse to take his bets.

47:56 - What three qualities he seeks in any company.

01:00:05 - How he scored big on Amazon, Google, Apple & Netflix.

01:11:11 - Why he never relaxes his disciplined focus on valuation.

01:16:04 - What he learned from hedge fund star Michael Steinhardt.

01:24:47 - How Bill’s team performs “Devil’s Advocate Reviews” for each stock.

01:33:55 - Why he developed his “Mistake Management Protocol.”

01:46:51 - How to succeed without ruining your health or your family.

01:46:51 - Why he discourages people from entering the investing business.

01:50:46 - What you must sacrifice to achieve greatness.

01:59:08 - How to succeed by aligning yourself with top-decile people.

02:07:13 - Why value investing isn’t dead.

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.
Bill Nygren’s investment firm, Harris Associates.
Bill Nygren’s funds, Oakmark Select & Oakmark Fund.
William Green’s book, “The Great Minds of Investing.”
William Green’s podcast interview with Christopher Begg.
William Green’s podcast interview with Ray Dalio.
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.
Enjoy ad-free episodes when you subscribe to our ⁠⁠Premium Feed⁠⁠.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠The Intrinsic Value Newsletter⁠⁠.
Check out our ⁠⁠We Study Billionaires Starter Packs⁠⁠.
Follow our official social media accounts: ⁠⁠X (Twitter)⁠⁠ | ⁠⁠LinkedIn⁠⁠ | ⁠⁠Instagram⁠⁠ | ⁠⁠Facebook⁠⁠ | ⁠⁠TikTok⁠⁠.
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.
Learn how to better start, manage, and grow your business with the ⁠⁠best business podcasts⁠⁠.

SPONSORS

Support our free podcast by supporting our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠sponsors⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠:⁠⁠⁠⁠⁠

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

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP731: Owning Best-in-Class Businesses w/ Joseph Shaposhnik

Fri, 20 Jun 2025 00:00:00 -0000

On today’s episode, Clay is joined by Joseph Shaposhnik to discuss the launch of his new ETF, Rainwater Equity. The Rainwater Equity ETF just launched on June 18th, 2025, under the ticker RW, and its objective is to compound capital at an above-average rate by investing in publicly listed recurring revenue businesses.

The fund Joseph managed at his previous firm compounded at 16.7% since 2015, versus the S&P 500’s 13.1% over that same time period. It was also the top-performing fund out of 343 in its US Large Cap Core Equity category by Nasdaq eVestment.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:39 - Joseph’s lessons from spending a day with Peter Lynch.

12:09 - Why the active management industry is broken and how Joseph has set out to fix it.

22:12 - Why Bill Miller invested in Joseph’s new ETF.

28:25 - Why recurring revenue is the ultimate business model.

40:11 - Whether any of the Magnificent 7 companies fit into Joseph’s recurring revenue framework.

46:35 - The role that valuation plays in Joseph’s quality investing framework.

55:30 - Joseph’s top stock pick to hold for the next 20 years.

01:03:00 - Why Joseph is attracted to the aerospace aftermarket industry.

01:08:09 - Why Joseph chose the ETF structure over the mutual fund.

01:10:53 - How Joseph determined the appropriate position sizing for his fund.

And so much more!

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.
Related Episode: TIP622: Finding Certainty in an Uncertain World w/ Joseph Shaposhnik.
Related Episode: TIP522: Unconventional Wisdom from the Greatest Minds in Investing w/ Joseph Shaposhnik.
Follow Joseph on LinkedIn & X.
Follow Clay on ⁠⁠⁠LinkedIn⁠⁠⁠ & ⁠⁠⁠X⁠⁠⁠.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Check out our ⁠⁠⁠⁠⁠⁠⁠⁠⁠We Study Billionaires Starter Packs⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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.
Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠⁠.

SPONSORS

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BTC239: Bitcoin, Psychology & the Return of Meaning w/ Seb Bunney (Bitcoin Podcast)

Wed, 18 Jun 2025 00:09:00 -0000

Seb and Preston explore the hidden emotional and societal costs of fiat currency, how Bitcoin changes our perception of value, and why money is more than just economics—it's identity.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:28 - The emotional toll of living within a fiat monetary system

10:04 - How Bitcoin changes the way we express values through money

12:55 - The real-life shifts that occur when someone adopts low time preference

15:37 - How hard money can enable authentic altruism and creativity

19:11 - How broken money disrupts psychological growth through Maslow’s hierarchy

20:24 - Why fiat incentives fuel fear, narrow focus, and societal disconnection

22:41 - The impact of viable saving on emotional and creative well-being

25:45 - Why fiat may be driving an identity crisis and inauthentic life paths

33:22 - What Bitcoin reveals about curiosity and intellectual integrity

41:05 - How note-taking and integration fuel personal and intellectual growth

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

BOOKS AND RESOURCES

Seb’s book: The Hidden Cost of Money.
Seb's Blog: Seb Bunney.
Related book: Fiat Food.
Related Episode: The Hidden Cost of Money (BTC160).
Check out all the books mentioned and discussed in our podcast episodes⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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Enjoy exclusive perks from our ⁠⁠⁠⁠⁠⁠⁠⁠⁠favorite Apps and Services⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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TIP730: Richer, Wiser, Happier, Q2 2025 w/ Stig Brodersen & William Green

Sun, 15 Jun 2025 00:00:00 -0000

On today’s show, Stig Brodersen talks with co-host William Green, the author of “Richer, Wiser, Happier.” In their quest for meaningful relationships and being the best version of themselves, they discuss what has made them Richer, Wiser, or Happier in the past quarter. You’re invited to join them on their journey. IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

00:07:45 - Why you will waste years if you can’t waste hours

00:08:04 - The power of (not) structuring your day

00:13:53 - What you can clone from an optimal life design

00:59:46 - What William and Stig have read the last quarter that made them Richer, Wiser, and Happier

01:01:55 - How to have work-play integration rather than a work-life balance

01:03:55 - Why what is important starts and ends with quality

01:22:13 - Why the best things in life come from compounding

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.
William Green’s book Richer, Wiser, Happier – Read reviews of this book.
Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q1 2025.
Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q4 2024
Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q3 2024.
Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q1 2024.
Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q3 2023.
Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q2 2023.
Simon Singh’s book, Fermat's Last Theorem – Read reviews of this book.
David Hawkins’ book, Letting Go – Read reviews of this book.
Pico Iyer’s book, Aflame – Read reviews of this book.
Tara Springett’s book, The Stairway to Heaven – Read reviews of this book.
Robert Caro’s book, Working - Read reviews of this book.
Robert Gottlieb’s documentary, Turn Every Page.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP729: Mastering the Capital Cycle

Fri, 13 Jun 2025 00:00:00 -0000

In this episode, Clay explores the core ideas behind Capital Returns by Edward Chancellor and Marathon Asset Management. Based on decades of investing experience, the book uncovers the capital cycle framework, which reveals how capital flows, supply dynamics, and managerial incentives drive long-term investment outcomes. Whether you're a value investor, a portfolio manager, or simply curious about market cycles, this episode offers guidance for understanding the boom and bust nature of cyclical industries.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:31 - How the capital cycle explains boom and bust industry dynamics.

07:03 - Why tracking supply is often more useful than forecasting demand.

16:20 - How capital discipline separates great managers from average ones.

05:07 - Why excess investment leads to lower future returns.

30:38 - Why cyclical industries can offer high-return opportunities.

41:50 - How incentives and ownership structures impact corporate decision-making.

49:10 - How low interest rates distort creative destruction and capital efficiency.

53:25 - Why mean reversion remains a powerful force in markets.

58:35 - How to spot red flags near capital cycle peaks.

01:03:55 - Why flexible thinking is essential for long-term investing success.

And so much more!

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.
Edward Chancellor’s book: Capital Returns.
Gautam Baid’s book: The Joys Of Compounding.
Related Episode: TIP505: The Price of Time w/ Edward Chancellor.
Mentioned Episode: TIP727: 7 Powers by Hamilton Helmer.
Follow Clay on ⁠⁠LinkedIn⁠⁠ & ⁠⁠X⁠⁠.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠.
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Browse through all our episodes (complete with transcripts) ⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠.
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Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠.

SPONSORS

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BTC238: Bitcoin 101 w/ Michael Schmid (Bitcoin Podcast)

Wed, 11 Jun 2025 00:00:00 -0000

Michael and Preston explore Bitcoin's foundational principles, covering digital scarcity, mining incentives, node infrastructure, and the importance of self-custody versus third-party management.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

12:13 - How Bitcoin prevents government-led currency debasement

19:14 - Why block reorganizations occur and how they're resolved

23:11 - The mechanics of block creation and transaction verification

28:55 - What makes Bitcoin a secure and decentralized timekeeper

31:13 - The economic incentives behind Bitcoin mining

33:54- The role of transaction fees as block subsidies decline

37:01 - How Bitcoin's security model addresses hack concerns

41:05 - How self-custody empowers users and mitigates risks

50:02 - Differences between running a node and mining

1:00:04 - Innovations in node infrastructure from the 256 Foundation

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

BOOKS AND RESOURCES

Michael’s X Account.
Website: Nakamoto Heating Solutions.
Website: 256 foundation.
Check out all the books mentioned and discussed in our podcast episodes⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠⁠⁠.
Check out our ⁠⁠⁠⁠⁠⁠⁠⁠Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠.
Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠.

SPONSORS

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TIP728: Mastermind Q2, 2025: Microsoft, Block, Devon Energy, Adyen

Sun, 08 Jun 2025 00:00:00 -0000

In today's episode, Stig Brodersen is talking stocks with Tobias Carlisle and Hari Ramachandra. Stig’s pick is Microsoft, the world’s biggest market cap company for good reason. Tobias is pitching Devon Energy, an oil and gas producer with a big upside if you’re right about the timing. Hari’s stocks of choice are Adyen and Block, two fast-growing companies with stronger moats that meet the eye.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:51 - Why Hari is bullish on Block and Adyen (Ticker on NYSE: XYZ and on Euronext: ADYEN).

12:48 - The bear case for Block and Adyen, including valuation and disruption.

24:22 - Stig’s bull case is for Microsoft (Ticker on NASDAQ: MSFT).

44:55 - The bear case for Microsoft, including the rich valuation.

56:56 - Why Toby is bullish on Devon Energy (Ticker on NYSE: DVN).

01:05:31 - The bear case of Devon Energy, including the debt level and share issuance.

01:27:06 - What the TIP Mastermind Community is and how we’re forming meaningful relationships.

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.
Stig Brodersen’s Portfolio and Track record.
Listen to Mastermind Discussion Q1, 2025 or watch the video.
Listen to Mastermind Discussion Q4, 2024 or watch the video.
Listen to Mastermind Discussion Q3, 2024 or watch the video.
Listen to Mastermind Discussion Q2, 2024 or watch the video.
Tune in to the Mastermind Discussion Q1, 2024 or watch the video.
Listen to Mastermind Discussion Q4, 2023 or watch the video.
Tune in to the Mastermind Discussion Q3, 2023 or watch the video.
Listen to Mastermind Discussion Q2, 2023 or watch the video.
Bill Gates’ autobiography, Source Code – read reviews of this book.
Stig and Preston book review of Paul Allen’s book, Idea Man.
Tobias Carlisle's podcast, The Acquirers Podcast.
Tobias Carlisle's ETF, ZIG.
Tobias Carlisle's ETF, Deep.
Tobias Carlisle's book, The Acquirer's Multiple – read reviews of this book.
Tobias Carlisle's Acquirer's Multiple stock screener: AcquirersMultiple.com
Tweet directly to Tobias Carlisle: @Greenbackd.
Tweet directly to Hari Ramachandra: @harirama.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠here⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠Premium Feed⁠⁠⁠.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠.
Check out our ⁠⁠⁠We Study Billionaires Starter Packs⁠⁠⁠.
Follow our official social media accounts: ⁠⁠⁠X (Twitter)⁠⁠⁠ | ⁠⁠⁠LinkedIn⁠⁠⁠ | ⁠⁠⁠Instagram⁠⁠⁠ | ⁠⁠⁠Facebook⁠⁠⁠ | ⁠⁠⁠TikTok⁠⁠⁠.
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.
Learn how to better start, manage, and grow your business with the ⁠⁠⁠best business podcasts⁠⁠⁠.

SPONSORS

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TIP727: 7 Powers by Hamilton Helmer

Fri, 06 Jun 2025 00:00:00 -0000

In this episode, Clay explores Hamilton Helmer’s 7 Powers framework, breaking down each of the seven sources of enduring competitive advantage. While companies all over the world offer benefits and value to society at large, few have barriers in place that prevent competitors from easily replicating those advantages. Whether you’re an investor or business operator, this episode is an essential listen to understand the critical ingredients for long-term success in business.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:34 - What it means for a company to have Power.

07:04 - The power of scale economies.

12:12 - Why network effects are one of the best competitive advantages a business can have.

18:05 - Why counter-positioning is Hamilton Helmer’s favorite Power.

30:19 - The types of switching costs that can keep customers locked in for years.

38:24 - Why customers are willing to consistently pay up for a great brand name.

51:24 - How companies can capture a cornered resource that even well-funded competitors are unable to replicate.

56:46 - Why process power is the rarest of the all the powers.

01:03:00 - A case study on Netflix and how they built multiple Powers outlined in the book.

And so much more!

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.
Hamilton Helmer’s book: 7 Powers.
Mentioned Episode: TIP600: Business Durability and Strategy Masterclass w/ Hamilton Helmer.
Follow Clay on ⁠LinkedIn⁠ & ⁠X⁠.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠.
Check out our ⁠⁠⁠⁠⁠⁠⁠We Study Billionaires Starter Packs⁠⁠⁠⁠⁠⁠⁠.
Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠⁠.
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.
Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠.

SPONSORS

Support our free podcast by supporting our ⁠⁠⁠⁠⁠⁠⁠⁠sponsors⁠⁠⁠⁠⁠⁠⁠⁠:

HELP US OUT!

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BTC237: Bitcoin & the Insurance Industry w/ Garrett Johnston (Bitcoin Podcast)

Wed, 04 Jun 2025 01:00:00 -0000

Garrett Johnston shares why Bitcoin—not crypto—should be the foundation for insurance innovation. We explore regulatory friction, risk evolution, and strategic adoption for carriers and corporates.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

04:57 - How digital asset risk profiles evolve as companies scale

16:09 - The case for Bitcoin in insurance company treasuries

16:15 - Why Bitcoin enhances risk-adjusted returns in institutional portfolios

21:39 - Why current regulatory frameworks hinder BTC adoption

21:54 - How NAIC rules classify BTC as a non-admitted asset

22:07 - The importance of state-by-state education and reform

30:28 - Gaps in current insurance coverage for Bitcoin-native businesses

45:03 -Why “Bitcoin not crypto” is critical in traditional insurance circles

47:12 - ESG misconceptions about Bitcoin in insurance contexts

48:26 - Game theory behind state-level regulatory adoption (e.g., NH SBR)

49:39 - AI’s emerging role in insurance and supply chain risk analysis

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

BOOKS AND RESOURCES

Garrett's ⁠X Account⁠.
Check out all the books mentioned and discussed in our podcast episodes⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

Join the exclusive ⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠⁠.
Check out our ⁠⁠⁠⁠⁠⁠⁠Bitcoin Fundamentals Starter Packs⁠⁠⁠⁠⁠⁠⁠.
Browse through all our episodes (complete with transcripts) ⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠.
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SPONSORS

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TIP726: From Obscurity to Opportunity: Jon Cukierwar’s Investment Edge

Sun, 01 Jun 2025 00:00:00 -0000

On today’s episode, Kyle Grieve chats with Jon Cukierwar about his unique global investing approach focused on undiscovered companies. They delve into Jon’s high-conviction strategy, his in-depth on-the-ground research process, and how he uncovers overlooked opportunities by combining valuation, quality, and growth.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:02 - Lessons Jon learned working for legend Bob Robotti

07:19 - Why Jon favours high-quality, growing businesses

17:26 - How Jon counters bias when meeting charismatic CEOs

25:50 - Why local investor networks unlock global insights

36:23 - Why Jon prioritizes owners’ earnings over net income

37:41 - The three essential traits Jon demands in investment and what makes an investment a “no-brainer” for Jon

39:47 - Why holding winners is harder than it seems

53:57 - Why Jon leans toward “boring” low-tech businesses

1:00:30 - What traits Jon values most in company leadership

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.
Read Jon’s shareholder letters here.
Read Jon’s research here.
Follow Kyle on Twitter and LinkedIn.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠.
Check out our ⁠⁠⁠⁠⁠⁠⁠We Study Billionaires Starter Packs⁠⁠⁠⁠⁠⁠⁠.
Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠⁠.
Browse through all our episodes (complete with transcripts) ⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠.
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SPONSORS

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TIP725: First Principles of Valuation w/ Tim Koller

Fri, 30 May 2025 00:00:00 -0000

On today’s episode, Clay is joined by Tim Koller to discuss all things valuation.

Tim is the lead author of Valuation: Measuring and Managing the Value of Companies which is the #1 best-selling guide to business valuation. This book—now in its eighth edition—has sold more than one million copies, and is used as a textbook at top business schools such as Wharton School, University of Chicago, MIT, INSEAD, Tuck School of Business, and Northwestern University.

As a Partner at McKinsey & Company, Tim combines broad cross-sector experience with decades of service to clients in value creation, corporate strategy, capital-markets issues, and M&A transactions.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:45 - How companies create shareholder value.

05:13 - The common misconceptions related to creating shareholder value.

13:54 - How managers should think about return on invested capital.

28:08 - Why it’s so common for managers to not take a long-term approach.

33:16 - How return on invested capital impacts a company’s valuation.

46:30 - How Tim thinks about the vast differences in returns we’ve seen in the US relative to Europe.

And so much more!

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.
Tim’s book: Valuation.
McKinsey’s website.
McKinsey’s insights: McKinsey on Finance.
Related Episode: TIP577: Valuation Masterclass w/ Aswath Damodaran.
Follow Tim on LinkedIn.
Follow Clay on LinkedIn & X.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠.
Check out our ⁠⁠⁠⁠⁠⁠We Study Billionaires Starter Packs⁠⁠⁠⁠⁠⁠.
Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠.
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.
Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠.

SPONSORS

Support our free podcast by supporting our ⁠⁠⁠⁠⁠⁠⁠sponsors⁠⁠⁠⁠⁠⁠⁠:

HELP US OUT!

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BTC236: Stablecoin GENIUS Act & Bitcoin Policy Update w/ Matt Pines (Bitcoin Podcast)

Wed, 28 May 2025 00:00:00 -0000

Preston and Matthew discuss the upcoming Bitcoin Policy Summit, explore strategic financial maneuvers involving Bitcoin, dissect stablecoin impacts, and examine shifting global crypto dynamics.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:20 - Challenges facing the Federal Reserve’s independence

13:21 - Insights into Elon's policy influence and federal restructuring

17:46 - The U.S. trade deficit's impact on Bitcoin and equity markets

19:59 - The Genius Act’s implications for stablecoin regulation

24:21 - How stablecoins are disrupting traditional banking

32:30 - How the Strategic Bitcoin Reserve could reshape fiscal policy

33:50 - Strategic execution plans for government Bitcoin acquisitions

37:13 - Bitcoin vs. gold as sovereign investment tools

39:27 - National strategies around AI, energy, and global Bitcoin positioning

48:40 - Details of the upcoming Bitcoin Policy Summit

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

BOOKS AND RESOURCES

Website: Bitcoin Policy Institute.
Website: BTC Policy Summit.
Matt’s X Account.
Check out all the books mentioned and discussed in our podcast episodes⁠ ⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

Join the exclusive ⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠ | | ⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠.
Check out our ⁠⁠⁠⁠⁠⁠Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠.
Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠.

SPONSORS

Support our free podcast by supporting our ⁠⁠⁠⁠⁠⁠sponsors⁠⁠⁠⁠⁠⁠:

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

TIP724: Key Insights From Coca-Cola's Golden Era

Sun, 25 May 2025 00:00:00 -0000

On today’s episode, Kyle Grieve chats about one of the most iconic businesses in history—Coca-Cola—and explores its enduring competitive advantages, its remarkable turnaround under CEO Roberto Goizueta, and what Warren Buffett saw that made it one of Berkshire Hathaway’s most legendary investments. Kyle unpacks why Coke’s brand power, global distribution, and intelligent capital allocation have helped it dominate for over a century and why understanding this story can help you spot other life-changing investments.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:03 - What gives Coca-Cola four enduring edges over competitors worldwide.

08:04 - A brief overview of Coca-Cola’s two primary business segments.

09:38 - Why Goizueta’s personality reshaped Coca-Cola’s future in unexpected ways.

11:14 - What makes Coca-Cola’s brand unforgettable across cultures and decades.

25:16 - The unique metric Goizueta used to unlock hidden value.

27:12 - What Warren Buffett saw before betting big on Coca-Cola.

39:40 - A mental model experiment Munger used to gauge Coke’s potential.

48:48 - How inversion revealed Coca-Cola’s moat through Charlie Munger’s lens.

50:03 - The real story behind Coca-Cola’s infamous recipe change.

55:43 - Why Coke’s scale and network keep competition permanently outmatched.

And so much more!

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.
Buy I'd Like the World to Buy a Coke here.
Buy The Warren Buffett Way here.
Read Charlie Munger’s $2 trillion Coke hypothesis here
Follow Kyle on ⁠⁠⁠X⁠⁠⁠ and ⁠⁠⁠LinkedIn⁠⁠⁠.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠.
Check out our ⁠⁠⁠⁠⁠We Study Billionaires Starter Packs⁠⁠⁠⁠⁠.
Follow our official social media accounts: ⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠.
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.
Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠.

SPONSORS

Support our free podcast by supporting our ⁠⁠⁠⁠⁠sponsors⁠⁠⁠⁠⁠:

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!

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

TIP723: The Art of Buying Growth Companies for Value Prices w/ Jim Zimmerman and Abigail Zimmerman

Fri, 23 May 2025 00:00:00 -0000

On today’s episode, Kyle Grieve chats with James and Abigail Zimmerman about the strength of growing and sustainable cash flowing businesses; the importance of strong balance sheets; how they navigate their circle of competence, and the steps they take to expand it; why simplicity is so important in an age of complexity, how they use cash as a boost, and not a drag on returns, and much more.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:28 - How communities—public and private—can spark better investment ideas.

07:06 - Why free cash flow yield is their north star metric.

10:09 - How to tell if value drivers are simple or deceptively complex.

14:00 - Why staying inside your circle of competence protects your downside.

19:22 - How “Fort Knox” balance sheets help survive any market storm.

28:23 - Key signals that suggest a business can sustain high ROIC.

32:56 - What truly shows management is aligned, not just insider ownership.

43:25 - The hidden risks that make many retailers dangerous investments.

53:07 - How an equity-bond lens helps compare all asset classes.

01:06:39 - When to double down on winners.

And so much more!

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.
Read about The Magic Formula here.
Check out Value Investors Club here.
Check out SumZero here.
Check out MOI Global here.
Follow Kyle on ⁠⁠X⁠⁠ and ⁠⁠LinkedIn⁠⁠.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠here⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠.
Check out our ⁠⁠⁠⁠We Study Billionaires Starter Packs⁠⁠⁠⁠.
Follow our official social media accounts: ⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠ | ⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠ | ⁠⁠⁠⁠Instagram⁠⁠⁠⁠ | ⁠⁠⁠⁠Facebook⁠⁠⁠⁠ | ⁠⁠⁠⁠TikTok⁠⁠⁠⁠.
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.
Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠.

SPONSORS

Support our free podcast by supporting our ⁠⁠⁠⁠sponsors⁠⁠⁠⁠:

HELP US OUT!

Support our show by becoming a premium member!

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

BTC235: Jack Mallers on XXI (21) and Strike Borrowing and Lending (Bitcoin Podcast)

Wed, 21 May 2025 00:00:00 -0000

Explore the launch of Twenty One Capital, its strategic ties with Tether, SoftBank, and Cantor Fitzgerald, and how it compares to MicroStrategy or ETFs. Plus, Strike’s bold leap into secure Bitcoin lending.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro 15:29 - How Twenty One Capital was formed and why now is the right time for a Bitcoin-native public company 17:16 - What SoftBank contributes beyond funding, including possible global Bitcoin adoption strategies 19:05 - How Twenty One differentiates itself from MicroStrategy and ETFs as a Bitcoin investment vehicle 19:55 - Why “Bitcoin Per Share” is used to track performance instead of traditional fiat metrics 27:31 - The ownership structure and governance dynamics between Tether, SoftBank, and other stakeholders 28:45 - Whether and how Strike and Twenty One will collaborate, and how CEO responsibilities are managed 31:26 - How the company navigates U.S. regulatory challenges, especially with Tether’s involvement 33:07 - The roadmap for Twenty One’s operational revenue beyond holding BTC 35:02 - The thinking behind Strike’s conservative Bitcoin-backed loans and their structure 35:40 - Lessons from the collapse of other crypto lenders and how Strike avoids similar risks 42:06 - The future of interest rates, accessibility, and transparency in Strike’s lending products 49:28 - Strike’s evolving role as a Bitcoin-native financial services platform – or neobank 51:54 - How both companies aim to promote financial sovereignty while balancing ease of use 57:05 - The biggest challenges on the horizon, from regulation to competition, and how they’ll be tackled

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

BOOKS AND RESOURCES

Jack’s X Account.
Learn more about Jack’s company: Strike.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

Join the exclusive ⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: ⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠ | ⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠ | | ⁠⁠⁠⁠Instagram⁠⁠⁠⁠ | ⁠⁠⁠⁠Facebook⁠⁠⁠⁠ | ⁠⁠⁠⁠TikTok⁠⁠⁠⁠.
Check out our ⁠⁠⁠⁠Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠.
Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠.

SPONSORS

Support our free podcast by supporting our ⁠⁠⁠⁠sponsors⁠⁠⁠⁠:

HELP US OUT!

Support our show by becoming a premium member!

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

RWH057: Celebrating Warren Buffett w/ Joel Greenblatt, Nick Sleep, Tom Russo, Christopher Bloomstran & Chris Davis

Sun, 18 May 2025 00:18:00 -0000

In this special celebratory episode, William Green spotlights some of the most important lessons from the greatest investor of all time: Warren Buffett. In honor of Buffett’s historic decision to retire after 60 years as Berkshire Hathaway’s CEO, William offers his thoughts on Buffett’s legacy & Berkshire’s future; he also shares powerful highlights from his conversations about Buffett with Joel Greenblatt, Nick Sleep, Thomas Russo, Chris Davis, Chuck Akre & Christopher Bloomstran.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

04:20 - What makes Berkshire Hathaway’s annual meeting a joyous experience.

06:13 - How Warren Buffett’s virtues & values shone through at this year’s AGM.

14:51 - How he & Charlie Munger made most of their money off 8 or 9 big bets.

22:41 - What Buffett taught Joel Greenblatt about buying great businesses.

27:24 - What stunned Greenblatt when he finally met Buffett.

33:45 - Why Chuck Akre attributes his enormous success to Buffett’s teachings.

38:18 - What Thomas Russo learned from Buffett about reducing “agency risk.”

46:17 - How Buffett inspired Nick Sleep to do what he already knew was right.

52:34 - Why Christopher Bloomstran thinks all CEOs should study Berkshire. 1:19:54 - Why Buffett focuses relentlessly on resilience in the face of extreme risks.

1:22:48 - What principles guide Greg Abel’s philosophy of asset allocation.

1:26:00 - Why Berkshire directors like Chris Davis vow to protect its unique culture.

1:33:39 - How he achieved staggering success without making enemies.

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.
Berkshire Hathaway’s annual reports since 1995.
Robert Hagstrom’s book The Warren Buffett Way.
Dale Carnegie’s book How to Win Friends & Influence People.
William Green’s podcast episode with Joel Greenblatt.
William Green’s podcast episode with Thomas Russo.
William Green’s podcast episode with Christopher Bloomstran.
William Green’s podcast episode with Chris Davis.
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.
Enjoy ad-free episodes when you subscribe to our ⁠Premium Feed⁠.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠The Intrinsic Value Newsletter⁠.
Check out our ⁠We Study Billionaires Starter Packs⁠.
Follow our official social media accounts: ⁠X (Twitter)⁠ | ⁠LinkedIn⁠ | ⁠Instagram⁠ | ⁠Facebook⁠ | ⁠TikTok⁠.
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.
Learn how to better start, manage, and grow your business with the ⁠best business podcasts⁠.

SPONSORS

Support our free podcast by supporting our ⁠sponsors⁠:

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

TIP722: Best Quality Stock Idea Q2 2025 w/ Clay Finck & Kyle Grieve

Fri, 16 May 2025 00:00:00 -0000

On today’s episode, Clay and Kyle give an overview of their best quality stock idea for Q2 2025. This quarter, they discuss Booking Holdings.

To our surprise, Booking Holdings is the world’s largest travel company. We explore how the company built a dominant position in Europe through its network effect, asset-light business model, and sound capital allocation decisions. We also cover Booking’s competitive advantages, financial performance, and key risks facing the business.

Clay finds Bookings Holdings to be a compelling long-term compounder, which led him to initiate a position in the company earlier this year.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

06:42 - How Booking built its dominant position in Europe and other markets globally.

11:47 - Why Booking Holdings is one of the most dominant and profitable online travel agencies in the world.

16:59 - An overview of the competitive landscape for online travel agencies.

38:21 - Booking Holdings’ competitive advantages.

40:46 - An overview of Bookings’ management team and incentive structure.

01:00:59 - How we view Bookings’ valuation today.

And so much more!

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.
Related Episode TIP698: Best Quality Idea Q1 2025 w/ Clay Finck & Kyle Grieve.
Related Episode TIP675: Best Quality Idea Q4 2024 w/ Clay Finck & Kyle Grieve.
Related Episode TIP652: Best Quality Idea Q3 2024 w/ Clay Finck & Kyle Grieve.
Related Episode TIP627: Best Quality Idea Q2 2024 w/ Clay Finck & Kyle Grieve.
Related Episode TIP604: Best Quality Idea Q1 2024 w/ Clay Finck & Kyle Grieve.
Follow Kyle on ⁠X⁠ and ⁠LinkedIn⁠.
Follow Clay on ⁠X⁠ and ⁠LinkedIn⁠.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠here⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠Premium Feed⁠⁠⁠.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠.
Check out our ⁠⁠⁠We Study Billionaires Starter Packs⁠⁠⁠.
Follow our official social media accounts: ⁠⁠⁠X (Twitter)⁠⁠⁠ | ⁠⁠⁠LinkedIn⁠⁠⁠ | ⁠⁠⁠Instagram⁠⁠⁠ | ⁠⁠⁠Facebook⁠⁠⁠ | ⁠⁠⁠TikTok⁠⁠⁠.
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.
Learn how to better start, manage, and grow your business with the ⁠⁠⁠best business podcasts⁠⁠⁠.

SPONSORS

Support our free podcast by supporting our ⁠⁠⁠sponsors⁠⁠⁠:

HELP US OUT!

Support our show by becoming a premium member!

https://premium.theinvestorspodcast.com/

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

BTC234: Bitcoin Torque, Saylor's Playbook w/ Andy Edstrom (Bitcoin Podcast)

Wed, 14 May 2025 00:00:00 -0000

Andy Edstrom unpacks whether Bitcoin is truly the last asymmetric bet for companies, diving into MicroStrategy's model, capital structure risks, and Bitcoin's rising institutional role.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:40 - Why Michael Saylor calls Bitcoin a lifeline for “zombie companies”

05:20 - How Bitcoin’s returns compare to traditional assets over the last decade

07:10 - The strategic and accounting evolution enabling Bitcoin treasury allocations

12:00 - MicroStrategy’s premium-to-NAV strategy and its replicability

15:40 - Risks and rewards of BTC-backed leverage and convertible notes

18:05 - The logic behind “torque” metrics in Bitcoin-financed capital structures

21:10 - If preferred shares like STRK and STRF are innovative or dangerous

23:05 - Wall Street’s changing views on Bitcoin-leveraged equity plays

27:20 - Legal and governance hurdles in corporate Bitcoin adoption

29:10 - What a BTC-heavy balance sheet should do during a major drawdown

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

BOOKS AND RESOURCES

Andy’s X Account.
Microstrategy Shareholders’ Meeting: Q1 2025 Earnings Call.
Michael Saylor’s speech at Strategy World: Bitcoin for Corporations 2025 Keynote Speech.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠.

NEW TO THE SHOW?

Join the exclusive ⁠⁠⁠TIP Mastermind Community⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: ⁠⁠⁠X (Twitter)⁠⁠⁠ | ⁠⁠⁠LinkedIn⁠⁠⁠ | | ⁠⁠⁠Instagram⁠⁠⁠ | ⁠⁠⁠Facebook⁠⁠⁠ | ⁠⁠⁠TikTok⁠⁠⁠.
Check out our ⁠⁠⁠Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠.
Learn how to better start, manage, and grow your business with the ⁠⁠⁠best business podcasts⁠⁠⁠.

SPONSORS

Support our free podcast by supporting our ⁠⁠⁠sponsors⁠⁠⁠:

HELP US OUT!

Support our show by becoming a premium member!

https://premium.theinvestorspodcast.com/

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP721: Berkshire Hathaway Annual Shareholders Meeting 2025 w/ Clay Finck & Kyle Grieve

Sun, 11 May 2025 00:00:00 -0000

In this episode, Clay and Kyle reflect on their weekend at the Berkshire Hathaway annual shareholders meeting in Omaha and play a few of their favorite clips from the Q&A session with Warren Buffett, Greg Abel, and Ajit Jain.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:16 - Our thoughts on Buffett’s announced retirement of CEO at Berkshire Hathaway.

07:07 - How Warren Buffett and Greg Abel’s management style might differ as CEO.

20:03 - Why Buffett seeks to surround himself with wonderful people.

35:03 - How Buffett and Abel balance patience with acting quickly and opportunitistically.

49:31 - How Buffett and Abel view Berkshire’s investments in Japan.

01:06:05 - The most important factor to consider when investing in emerging markets.

01:10:44 - Berkshire’s recent investment activity and Buffett’s thoughts on today’s market.

And so much more!

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.
Watch the full shareholders meeting here.
Related Episode: TIP629: Berkshire Hathaway Annual Shareholders Meeting 2024 w/ Clay Finck & Kyle Grieve.
Related Episode: TIP551: Berkshire Hathaway Annual Shareholders Meeting 2023 w/ Clay Finck.
Related Episode: TIP446: Berkshire Hathaway Annual Shareholders Meeting 2022 w/ Stig Brodersen & Trey Lockerbie.
Follow Kyle on X and LinkedIn.
Follow Clay on X and LinkedIn.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠here⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠Premium Feed⁠⁠.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠The Intrinsic Value Newsletter⁠⁠.
Check out our ⁠⁠We Study Billionaires Starter Packs⁠⁠.
Follow our official social media accounts: ⁠⁠X (Twitter)⁠⁠ | ⁠⁠LinkedIn⁠⁠ | ⁠⁠Instagram⁠⁠ | ⁠⁠Facebook⁠⁠ | ⁠⁠TikTok⁠⁠.
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.
Learn how to better start, manage, and grow your business with the ⁠⁠best business podcasts⁠⁠.

SPONSORS

Support our free podcast by supporting our ⁠⁠sponsors⁠⁠:

HELP US OUT!

Support our show by becoming a premium member!

https://premium.theinvestorspodcast.com/

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP720: Investing Against The Tide

Fri, 09 May 2025 00:00:00 -0000

On today’s episode, Kyle Grieve breaks down the contrarian investing philosophy of Anthony Bolton, revealing how he consistently outperformed the market by combining sentiment analysis, in-depth fundamental research, and a flexible yet disciplined portfolio strategy.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:27 - The traits Bolton observed in the best fund managers.

04:55 - Why incomplete knowledge can be a strength.

06:56 - A simple method for conviction-based portfolio reviews.

11:48 - What to do when your investments aren't working.

16:05 - The role of sentiment in Bolton’s investing edge.

22:40 - How to spot and avoid artificial conviction.

29:14 - Using bond prices to assess business risk.

31:18 - Why controlling your destiny matters in business.

35:45 - Insights Bolton gained from meeting company management.

01:00:45 - Three big mistakes—and what they taught him.

And so much more!

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.
Read Investing Against The Tide here.
Follow Kyle on ⁠X⁠ and ⁠LinkedIn⁠.
Check out all the books mentioned and discussed in our podcast episodes ⁠here⁠.
Enjoy ad-free episodes when you subscribe to our ⁠Premium Feed⁠.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠The Intrinsic Value Newsletter⁠.
Check out our ⁠We Study Billionaires Starter Packs⁠.
Follow our official social media accounts: ⁠X (Twitter)⁠ | ⁠LinkedIn⁠ | ⁠Instagram⁠ | ⁠Facebook⁠ | ⁠TikTok⁠.
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.
Learn how to better start, manage, and grow your business with the ⁠best business podcasts⁠.

SPONSORS

Support our free podcast by supporting our ⁠sponsors⁠:

HELP US OUT!

Support our show by becoming a premium member! https://premium.theinvestorspodcast.com/

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

BTC233: Bitcoin & Texas A Roadmap for the Global Financial Shift w/ Parker Lewis (Bitcoin Podcast)

Wed, 07 May 2025 00:00:00 -0000

This episode explores Bitcoin’s emerging role as a global economic force, from its convergence as money to grid integration, payment tech, and strategic policy shifts.

Preston and Parker also spotlight Zaprite's innovations for Bitcoin payments and the broader implications of CBDCs and regulatory changes.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:12 - Key developments in Texas: grid reliability, strategic reserves, and Bitcoin Park

07:12 - How Bitcoin mining can support energy grid reliability and cost efficiency

09:47 - Economic pros and cons of a U.S. Strategic Bitcoin Reserve.

12:57 - Navigating regulatory pressures while fostering innovation in the Bitcoin space

14:08 - How Zaprite helps businesses integrate Bitcoin payments with ease

15:50 - The impact of Zaprite’s new Payments API on the merchant landscape

21:26 - Why Bitcoin, not crypto, is positioned as the singular monetary convergence point

27:51 - The rationale behind global convergence toward Bitcoin as a monetary standard

28:41 - The role and future of stablecoins in a Bitcoin-dominant ecosystem

34:35 - The feasibility of Bitcoin becoming a global reserve currency

41:00 - Bitcoin as a hedge against inflation and the response to CBDCs

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

BOOKS AND RESOURCES

Parker’s book, Gradually, Then Suddenly.
Start accepting Bitcoin payments through ⁠Zaprite⁠.
Parker’s⁠ X Acount⁠.
Related Video: ⁠Bitcoin, Not Crypto⁠.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠here⁠⁠⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠.

NEW TO THE SHOW?

Join the exclusive ⁠⁠TIP Mastermind Community⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: ⁠⁠X (Twitter)⁠⁠ | ⁠⁠LinkedIn⁠⁠ | | ⁠⁠Instagram⁠⁠ | ⁠⁠Facebook⁠⁠ | ⁠⁠TikTok⁠⁠.
Check out our ⁠⁠Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠The Intrinsic Value Newsletter⁠⁠.
Learn how to better start, manage, and grow your business with the ⁠⁠best business podcasts⁠⁠.

SPONSORS

Support our free podcast by supporting our ⁠⁠sponsors⁠⁠:

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP719: Investing and Life Lessons w/ Mohnish Pabrai

Sun, 04 May 2025 00:00:00 -0000

On today’s show, Stig Brodersen talks with legend value investor Mohnish Pabrai. Since its inception in 1999, one dollar invested in the flagship fund would have turned into $13.63 vs. $6.19 for the S&P 500. In the special interview, you can join Mohnish and Stig’s metaphorical restaurant and together taste new wonderful dishes in investing and life.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:36 - How stock investors can truly think like the owners of the business

10:09 - Which advice would Mohnish give to himself at ages 40 and 50

20:48 - Why you should learn from your mistakes, but not too much

33:07 - Why Mohnish looks at philanthropy as part two of the ultimate game

35:41 - Why you need to work with the fewest possible variables in philanthropy

51:30 - How to look at an “execution moat”

1:00:59 - Why Stig thinks that Mohnish is over diversified

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.
Mohnish Pabrai’s website.
Learn more about Mohnish Pabrai’s Dakshana Foundation.
Our interviews with Mohnish Pabrai about The Inner Scorecard.
Our interviews with Mohnish Pabrai about Masterclass Investing.
Our interviews with Mohnish Pabrai about investing in stocks.
Our interviews with Mohnish Pabrai about value investing and philanthropy.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠here⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠Premium Feed⁠⁠.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠The Intrinsic Value Newsletter⁠⁠.
Check out our ⁠⁠We Study Billionaires Starter Packs⁠⁠.
Follow our official social media accounts: ⁠⁠X (Twitter)⁠⁠ | ⁠⁠LinkedIn⁠⁠ | ⁠⁠Instagram⁠⁠ | ⁠⁠Facebook⁠⁠ | ⁠⁠TikTok⁠⁠.
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.
Learn how to better start, manage, and grow your business with the ⁠⁠best business podcasts⁠⁠.

SPONSORS

Support our free podcast by supporting our ⁠⁠sponsors⁠⁠:

HELP US OUT!

Support our show by becoming a premium member!

https://premium.theinvestorspodcast.com/

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP718: Buffett & Munger Unscripted by Alex Morris

Fri, 02 May 2025 00:00:00 -0000

In this episode, Clay dives into Buffett and Munger Unscripted by Alex Morris. This book is a treasure trove of timeless investing wisdom from decades of Berkshire Hathaway annual meetings.

The episode highlights Warren and Charlie’s most powerful lessons on capital allocation, business quality, temperament, and how to achieve long-term investing success. Whether you're a lifelong Buffett fan or just stepping into the world of value investing, this episode is packed with insights you won’t want to miss.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:48 - Why Buffett and Munger believe there’s no such thing as non-value investment.

07:45 - Why Buffett avoids complex financial models and sticks to common sense.

08:05 - The traits that define a truly great business—and why those are so rare.

14:57 - How capital allocation drives long-term shareholder value and Berkshire’s success.

24:29 - How Buffett thinks about share buybacks and dividends.

26:27 - The importance of understanding and trusting management and company culture.

38:53 - Why most of Berkshire’s success came from just a handful of decisions.

49:48 - How Buffett and Munger handle market volatility and avoid emotional decisions. 56:26 - The role of temperament in investing and why intelligence alone isn’t enough.

58:15 - Why short selling rarely works and why index funds are still a powerful tool.

And so much more!

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.
Alex Morris’ book: Buffett & Munger Unscripted.
Alex’s research service: The Science of Hitting.
Book mentioned: The Essays of Warren Buffett.
Mentioned Episode: TIP697: The Secret to Buffett's Business Success w/ Lawrence Cunningham.
Mentioned Episode: TIP550: Masterclass w/ Mohnish Pabrai.
Mentioned Episode: TIP693: The Power Law w/ Clay Finck.
Mentioned Episode: TIP626: Intelligent & Rational Long-Term Investing w/ Francois Rochon.
Mentioned Episode: TIP620: The Intelligent Investor by Benjamin Graham.
Follow Alex on X and LinkedIn.
Follow Clay on ⁠LinkedIn⁠ & ⁠X⁠.
Check out all the books mentioned and discussed in our podcast episodes ⁠here⁠.
Enjoy ad-free episodes when you subscribe to our ⁠Premium Feed⁠.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠The Intrinsic Value Newsletter⁠.
Check out our ⁠We Study Billionaires Starter Packs⁠.
Follow our official social media accounts: ⁠X (Twitter)⁠ | ⁠LinkedIn⁠ | ⁠Instagram⁠ | ⁠Facebook⁠ | ⁠TikTok⁠.
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.
Learn how to better start, manage, and grow your business with the ⁠best business podcasts⁠.

SPONSORS

Support our free podcast by supporting our ⁠sponsors⁠:

HELP US OUT!

Support our show by becoming a premium member! https://premium.theinvestorspodcast.com/

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

BTC232: Bitcoin Allocation in a Changing Monetary Standard w/ Jim Crider (Bitcoin Podcast)

Wed, 30 Apr 2025 00:00:00 -0000

This episode explores how Bitcoin investors can build resilient portfolios, respond to economic slowdowns, and make smarter money and time decisions.

Expert insights on real estate trends, estate planning, and hedging strategies round out a comprehensive discussion.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:45 - The sustainability of Bitcoin's rally and long-term price outlooks.

05:35 - Trends in Bitcoiners' real estate investments amid housing illiquidity.

07:43 - How to interpret downgraded global growth forecasts for personal planning.

11:12 - How Bitcoiners can diversify portfolios while managing volatility.

19:45 - Entrepreneurial vs. employment decisions in today’s financial climate.

20:37 - Hedging strategies for crypto portfolios under regulatory uncertainty.

21:05 - Shifts in investor behavior during inflationary slowdowns.

21:22: The impact of macroeconomic trends on Bitcoin investment strategies.

29:00 - The estate and tax implications of a Strategic Bitcoin Reserve.

36:09 - Lifestyle shifts prioritizing time over income in economic downturns.

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

BOOKS AND RESOURCES

Jim’s website.
Jim’s⁠ X Account⁠.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠here⁠⁠.
Enjoy ad-free episodes when you subscribe to our ⁠⁠Premium Feed⁠⁠.

NEW TO THE SHOW?

Join the exclusive ⁠TIP Mastermind Community⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: ⁠X (Twitter)⁠ | ⁠LinkedIn⁠ | | ⁠Instagram⁠ | ⁠Facebook⁠ | ⁠TikTok⁠.
Check out our ⁠Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠The Intrinsic Value Newsletter⁠.
Learn how to better start, manage, and grow your business with the ⁠best business podcasts⁠.

SPONSORS

Support our free podcast by supporting our ⁠sponsors⁠:

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP717: Berkshire Hathaway 2025 w/ Chris Bloomstran

Sun, 27 Apr 2025 00:00:00 -0000

Stig has invited legend investor Chris Bloomstran from Semper Augustus to teach us how to value Berkshire Hathaway on today's show. Semper Augustus has an outstanding track record with a compounded annual growth rate of 11.4% on equities since its fund's inception on 2/28/1999, compared to 8.2% for the S&P 500.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:45 - The importance of being trusted for Warren Buffett and Chris Bloomstran

18:20 - Why you may want to own a 10-year treasury over the S&P 500 over the next decade

20:28 - How to estimate whether you’re in a secular peak

27:43 - How active Berkshire should be on the boards of portfolio companies

36:03 - How to take a deep dive into Berkshire Hathaway’s culture and business model

43:53 - What the intrinsic value of Berkshire Hathaway is, and what type of return you can get moving forward

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.
Stig’s 2024 interview with Chris Bloomstran about Berkshire Hathaway.
Stig’s 2023 interview with Chris Bloomstran about Berkshire Hathaway.
Stig’s 2022 masterclass with Chris Bloomstran on valuing Berkshire Hathaway.
Chris Bloomstran’s website.
Read Chris Bloomstran’s annual letters.
Buffett resource on CNBC.
Alex Morris’ book, Buffett and Munger Unscripted – read reviews of the book.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

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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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TIP716: The Power of Customer Obsession: Amazon’s Secret Weapon w/ Kyle Grieve

Fri, 25 Apr 2025 00:00:00 -0000

On today’s episode, Kyle Grieve explores the DNA of Amazon by tracing Jeff Bezos’s early influences, strategic decisions, and relentless focus on customer experience, revealing how a bold vision and founder-led culture built one of the most dominant businesses in history.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:12 - How Bezos’s childhood brilliance helped forged Amazon’s DNA.

03:22 - Why self-reliance helped Bezos repeatedly invent out of failure.

06:02 - How DE Shaw inspired Amazon’s hiring bar and secretive innovations.

14:18 - Why founder-led companies tripled returns vs peers from 1990–2014.

17:07 - How Amazon used user reviews to build trust and boost Amazon’s moat.

24:20 - How one-click ordering deepened customer loyalty and competitive defensibility.

41:05 - The importance of Amazon Prime and how it affected customer churn and loyalty.

51:51 - How AWS was born.

54:27 - How Amazon has used its scale and competitive positioning to acquire competitors.

And so much more!

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.
Read The Everything Store: Jeff Bezos and the Age of Amazon here.
Read Invent and Wander: The Collected Writings of Jeff Bezos here.
Read Delivering Happiness: A Path to Profits, Passion, and Purpose here.
Follow Kyle on X and LinkedIn.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

Support our show by becoming a premium member! https://premium.theinvestorspodcast.com/

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

BTC231: Bitcoin Nation State Adoption Paradox - A Trojan Horse w/ Alex Gladstein (Bitcoin Podcast)

Wed, 23 Apr 2025 00:00:00 -0000

Alex Gladstein unpacks the hidden power dynamics of financial privilege, the shifting terrain of surveillance, and why Bitcoin might be the most unexpected tool in the fight for human rights

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

08:23 - Why self-custody is essential to the philosophical core of financial freedom

13:12 - How grassroots Bitcoin movements are reshaping power dynamics

14:02 - The complex role of social media in Bitcoin advocacy

14:27 - What recent developments are challenging or reinforcing core beliefs

16:07 - How Bitcoin acts as a stealth disruptor of corrupt systems

17:29 - Real-world humanitarian uses of Bitcoin, including crisis response

18:49 - The implications of rising financial surveillance—even in democracies

19:43 - Why financial privilege blinds many in the West to global monetary injustice

21:07 - Where the next frontier of Bitcoin and human rights may emerge

49:03 - How writing a full-length book reframed the guest’s understanding of scale and resistance

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

BOOKS AND RESOURCES

Alex’s X Account.
Human Rights Foundation.
Related Video: Princess of the Yen.
Bitcoin Is A Trojan Horse For Freedom by Alex Gladstein.
Alex’s books: Check Your Financial Privilege and Hidden Repression: How the IMF and World Bank Sell Exploitation as Development.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

RWH056: Calm Amid The Storm w/ Christopher Begg

Sun, 20 Apr 2025 00:00:00 -0000

In this episode, William Green chats with Christopher Begg, an exceptional hedge fund manager who is the CEO & CIO of East Coast Asset Management. Chris has also taught for many years at Columbia Business School, where he teaches the prestigious Security Analysis course that Warren Buffett took with Ben Graham in 1951. Here, Chris discusses how to stay calm amid market turmoil; how he identifies great businesses; why Tesla could deliver extraordinary long-term returns; & how he builds a balanced life in 7 key areas.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:54 - How Christopher Begg handles extreme market turmoil.

04:07 - Why he loves volatility & how he exploits it.

06:27 - What 3 qualities he seeks when identifying an exceptional business.

18:19 - Why temperament is the key to investment success.

28:06 - How Perimeter Solutions embodies what he looks for in a stock.

31:49 - How value investing has evolved to what he calls “Value 3.0.”

42:15 - Why Tesla could deliver “extraordinary” returns over many years.

42:15 - What he thinks of Elon Musk.

01:11:13 - Why the secret of success is “persistent incremental progress.”

01:13:48 - How a 66-day challenge helped Chris to nurture good habits.

01:26:06 - How Buffett & Munger won the investing game with “class & virtue.”

01:34:18 - How to design a balanced, joyful, & spacious 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.
Chris Begg’s investment firm, East Coast Asset Management.
Marcel Proust's In Search of Lost Time.
Tanya Luhrmann's How God Becomes Real.
Maurice Merleau-Ponty's Phenomenology of Perception.
Douglas Adams' The Hitchhiker’s Guide to the Galaxy.
Richard Bach's Jonathan Livingston Seagull.
James Carse's Finite & Infinite Games.
David Whyte's Consolations & Consolations II.
Madeleine Green's song discussed by William & Chris.
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.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

Support our show by becoming a premium member! https://premium.theinvestorspodcast.com/

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP715: Thinking in Bets by Annie Duke

Fri, 18 Apr 2025 00:00:00 -0000

In this episode, Clay explores the book Thinking in Bets by Annie Duke, a guide to making better decisions under uncertainty.

Drawing from her career as a professional poker player, Annie shares how to separate decision quality from outcomes and avoid the trap of “resulting.” Clay also discusses how our brains are wired for certainty, why embracing probabilistic thinking leads to better outcomes, and the value of building a truth-seeking support system. Additionally, he uncovers tools like backcasting, premortems, and kill criteria to improve long-term decision-making as investors.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:36 - What it means to “think in bets” and how poker can sharpen decision-making.

05:57 - The concept of “resulting” and how it distorts our ability to evaluate decisions.

08:17 - Why good decisions can still lead to bad outcomes—and vice versa.

09:41 - The role of System 1 vs. System 2 thinking in making better choices.

10:44 - How investing parallels poker with incomplete information and uncertainty.

26:29 - How to build a feedback loop that separates luck from skill.

34:03 - The importance of building a truth-seeking group or “buddy system.”

35:02 - The dangers of confirmation bias and how beliefs are often formed by default.

52:54 - How backcasting and premortems can help map out future decisions.

57:16 - The power of setting kill criteria to avoid emotional decision-making.

And so much more!

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.
Annie Duke’s book: Thinking in Bets.
Mentioned book: Big Mistakes.
Related Episode: TIP623: The Art of Decision Making w/ Annie Duke.
Related Episode: RWH015: Betting Better in Markets and Life w/ Annie Duke.
Follow Clay on LinkedIn & X.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

BTC230: Bitcoin's Political Shift w/ Brian Estes and Perianne Boring (Bitcoin Podcast)

Wed, 16 Apr 2025 00:00:00 -0000

Perianne Boring and Brian Estes join the show to break down today’s most pressing crypto issues—from rising tariffs and DOJ coin audits to the White House Digital Asset Summit.

They share insights on the evolving market structure, the future of stablecoin legislation, and how Washington is shaping the next phase of digital finance. Plus, a look at Bitbonds, Thank God For Bitcoin, and the under-the-radar trends that could define the next cycle.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:29 - Key takeaways from the White House Digital Asset Summit

05:48 - Where the stablecoin bill stands and what’s holding it up

04:12 - Senator Moreno's legislative roadmap on digital assets

10:27 - Why tariffs are making headlines again and how they affect digital assets

15:17 - Market trends that may be flying under the radar

19:54 - What the DOJ coin audits mean for the crypto industry

28:10 - How the market structure is evolving with increased regulation

35:58 - The future of banking post-stablecoin legislation

43:05 - How Bitbonds could play a role in the next wave of crypto innovation

52:20 - Insights from the film Thank God For Bitcoin

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

BOOKS AND RESOURCES

Related episode: Making THE Bitcoin Movie w/ Kelly and Brian Estes.
Link to the movie: God Bless Bitcoin.
The Digital Chamber’s Website.
Perianne's X Account.
Brian’s X Account.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP714: Bet Big, Bet Rarely: The Dhandho Investing Playbook w/ Kyle Grieve

Sun, 13 Apr 2025 00:00:00 -0000

On today’s episode, Kyle Grieve dives deep into Mohnish Pabrai’s The Dhandho Investor, unpacking its nine core principles through vivid case studies and personal reflections to help investors embrace simplicity, asymmetric bets, and the power of cloning proven ideas.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:34 - Why buying an existing business can be a smarter path than starting one from scratch.

11:32 - Profiting from businesses with short-term earnings visibility—and why it matters.

13:07 - The enduring strength and clarity of simple business models.

17:39 - How distressed businesses in troubled industries can become goldmines.

31:46 - Why hidden moats often offer the biggest edge—and how to spot them.

38:08 - The case for concentration: how fewer bets can lead to outsized returns.

50:28 - What modeling Costco reveals about risk, value, and margin of safety.

55:13 - The counterintuitive appeal of low-risk, high-uncertainty investments.

59:13 - How to use the cloning principle to shortcut your search for winners.

01:02:09 - Why your sell strategy should evolve with the quality of the business you own.

And so much more!

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.
Read The Dhando Investor here.
Read The Intelligent Investor by Benjamin Graham here.
Read Richer, Wiser, Happier by William Green here.
Read The Little Book That Beats the Market by Joel Greenblatt here.
Follow Kyle on X and LinkedIn.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP713: Why Serial Acquirers Outperform w/ Niklas Sävås

Fri, 11 Apr 2025 00:00:00 -0000

On today’s episode, Clay is joined by Niklas Sävås to discuss the business model of serial acquirers.

A serial acquirer is a company that grows primarily by repeatedly acquiring other businesses as a core part of its strategy. Over the past two decades, many serial acquirers have proven to be profitable investments in the stock market including Constellation Software and Lifco AB. In this episode, Clay and Niklas break down the most important factors to understanding the business model as investors.

Niklas Sävås is a senior equity analyst at Redeye AB where he does extensive research on serial acquirers in the Nordics.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:55 - What a serial acquirer is and why serial acquirers are able to buck conventional thinking on making acquisitions.

08:54 - What the return profile is for serial acquirers in making private acquisitions.

10:35 - Best practices used by successful serial acquirers.

24:49 - Why it’s important to be the buyer of choice as a serial acquirer.

40:18 - The most common challenges that serial acquirers face.

49:01 - The importance of organic growth for serial acquirers.

54:41 - An overview of the Roko IPO.

And so much more!

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.
Check out Redeye.
Investing by the Books Podcast.
REQ Capital Report.
Follow Niklas on LinkedIn & X.
Follow Clay on LinkedIn & X.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

BTC229: Trump Tariffs, Market Chaos, Bitcoin Impact w/ James Lavish

Wed, 09 Apr 2025 00:00:00 -0000

Wall Street veteran and macro expert, James Lavish, and Preston Pysh have a candid back and forth about the Trump tariffs and what the impact in game theory looks like moving forward.

They also talk about how it's impacting fixed income, equities, and Bitcoin. Plus how the U.S. might navigate things from here and what's expected ahead.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

04:14 - How MAG 7 dynamics differ from MAGA trade policies

04:48 - Insights from the Street on where equities and crypto are headed

14:07 - How the U.S. dollar contributed to structural trade imbalances

14:49 - Why China's bond selloff may be a response to U.S. tariffs

15:56 - The potential size of the “boggie” in market selloffs and debt

16:23 - Ray Dalio’s framework for understanding today’s deeper economic shifts

16:41 - The case for the end of globalism and what replaces it

23:42 - Why Elon Musk might be at odds with his economic circle

28:02 - What tariffs mean for inflation and the bond market

36:19 - The role of Dollar Stablecoins in the evolving financial system

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

BOOKS AND RESOURCES

James’ X Account.
James’ The Informationist Newsletter.
James’ Bitcoin Opportunity VC Fund.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP712: Advice for My Twenty-Year-Old Self w/ Stig Brodersen

Sun, 06 Apr 2025 00:00:00 -0000

In today's episode, Stig Brodersen shares 20 pieces of advice with his 20-year-old self.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:02 - Why the limits of your language are the limits of your world

06:35 - Why you need to leave your comfort zone

09:05 - Why you can grow from making yourself vulnerable

21:29 - Why you can have anything but not everything

33:29 - Why you should do what you say and say what you do

53:02 - Why you should be intentional with your relationships - but not too much

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.
Stig’s blog post on his portfolio and track record since 2014.
Stig’s podcast on his journey into financial independence.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP711: Netflix, Ferrari, & Managing Market Volatility w/ Arif Karim

Fri, 04 Apr 2025 00:00:00 -0000

On today’s episode, Clay is joined by Arif Karim to discuss Netflix and Ferrari. Arif has studied both businesses for many years as a co-Portfolio Manager at Ensemble Capital and knows these companies as well as about anybody.

Arif has been in the investment industry for over 25 years, and is currently working on transitioning to his new venture in the industry.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:31 - What is Netflix’s moat, and what makes it a great business?

10:45 - How Arif managed the share price volatility of Netflix in recent years.

21:34 - The growth initiatives Netflix pursued in light of the slowdown in subscriber growth.

42:02 - Why Ferrari is a business with win-win relationships similar to Costco.

01:09:04 - How Arif thinks about Ferrari’s and Netflix’s valuation.

And so much more!

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.
Connect with Arif on LinkedIn.
Follow Clay on LinkedIn & X.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

BTC228: Saylor's Bitcoin Strategy w/ Preferred Stock w/ Jesse Myers (Bitcoin Podcast)

Wed, 02 Apr 2025 00:00:00 -0000

Jesse Myers breaks down MicroStrategy’s bold new move, the MSTR preferred stock, and shares big-picture views on Bitcoin, scarcity, and economic transformation.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:58 - What MicroStrategy’s new preferred stock offering means for investors.

04:34 - The implications of MSTR’s free cash flow and interest expense dynamics.

07:23 - A sneak peek at Jesse’s Global Asset Value chart and what it reveals.

10:16 - How Bitcoin continues to shape MicroStrategy’s balance sheet and strategy.

15:48 - Whether we’re approaching a “debt event horizon” and what that might mean.

16:33 - Jesse’s insights on Bitcoin yield and accretive dilution.

23:29 - Misconceptions people have about the current economic landscape.

23:49 - Why appreciating scarcity is a key mindset shift in investing.

36:36 - What Jesse’s excited about in today’s rapidly evolving financial world.

37:24 - Jesse’s take on Elon Musk and Howard Lutnick’s vision for rewiring the U.S. economy.

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

BOOKS AND RESOURCES

Jesse’s X Account.
Jesse Myer’s Newsletter.
Jesse’s company, Onramp.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP710: Common Stocks and Common Sense w/ Kyle Grieve

Sun, 30 Mar 2025 00:00:00 -0000

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.

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.
Read Common Stocks and Common Sense here.
Follow Kyle on X and LinkedIn.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP709: The Art of Long-Term Investing w/ François Rochon

Fri, 28 Mar 2025 00:00:00 -0000

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.

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.
Rochon’s firm: Giverny Capital.
Follow Clay on LinkedIn & X.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

BTC227: Bitcoin, Taxes, and Smart Estate Planning w/ Jessy Gilger (Bitcoin Podcast)

Wed, 26 Mar 2025 00:00:00 -0000

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.

BOOKS AND RESOURCES

Jessy’s X Account.
Jessy’s Financial Planning Company: Sound Advisory.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP708: Why Wall Street’s Playbook Is Broken w/ Harris Kupperman

Sun, 23 Mar 2025 00:00:00 -0000

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.

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.
Read Harris' articles here.
Follow Kyle on Twitter and LinkedIn.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP707: The Collapse of Long-Term Capital Management w/ Clay Finck

Fri, 21 Mar 2025 00:00:00 -0000

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

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.
Lowenstein’s book: When Genius Failed.
Mentioned book: Big Mistakes.
Related Episode: Listen to TIP514: Permanent Supply Chain Disruptions that Will Destroy the Economy w/ Jim Rickards.
Email Shawn at shawn@theinvestorspodcast.com to attend our free events in Omaha or visit this page.
Follow Clay on X.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

BTC226: Bitcoin Mastermind Discussion Q1 2025 (Bitcoin Podcast)

Wed, 19 Mar 2025 00:00:00 -0000

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

Related Episode: Bitcoin Mastermind 4th Quarter 2024.
American Hodl on Nostr.
Jeff Ross on Nostr.
Joe Carlasare on X (Twitter), Nostr.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

RWH055: The Inner Scorecard w/ Pico Iyer

Sun, 16 Mar 2025 00:00:00 -0000

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

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Pico Iyer’s website.
Pico Iyer's book: Aflame: Learning from Silence.
Pico Iyer's books: The Open Road: The Global Journey of the 14th Dalai Lama.
Henry David Thoreau's book: Walden.
Pico Iyer’s TED talk on The Art of Stillness.
William’s 2023 podcast interview with Pico Iyer.
William’s podcast interview with Daniel Goleman & Tsoknyi Rinpoche.
William’s podcast interview with Brad Stulberg.
William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.
Follow William Green on X.
Email Shawn at shawn@theinvestorspodcast.com to attend our free events in Omaha or visit this page.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP706: The Founder's Mindset w/ Cristiano Souza

Fri, 14 Mar 2025 00:00:00 -0000

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

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Cristiano’s firm: Zeno Equity Partners.
Book mentioned: Mastery by Robert Greene, The Nvidia Way by Tae Kim.
Email Shawn at shawn@theinvestorspodcast.com to attend our free events in Omaha or visit this page.
Follow Cristiano on LinkedIn.
Follow Clay on X.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

BTC225: Bitcoin Revolutionizing Renewable Energy w/ Daniel Batten (Bitcoin Podcast)

Wed, 12 Mar 2025 00:00:00 -0000

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

Daniel’s X account.
Daniel’s Nostr account.
Why Bitcoin Mining is Indispensable Climate Action by Daniel Batten.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP705: The Quiet Winners: Unveiling Hidden Value w/ Adam Wilk

Sun, 09 Mar 2025 01:00:00 -0000

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

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Buy The Warren Buffett Portfolio here.
Follow Kyle on Twitter and LinkedIn.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP704: The Nvidia Way w/ Tae Kim

Fri, 07 Mar 2025 01:00:00 -0000

On today’s episode, Clay is joined by Tae Kim to discuss his new book, The Nvidia Way, which outlines the making of one of the greatest tech businesses in the world. Nvidia is the darling of the age of artificial intelligence as its chips are powering the generative-AI revolution, and demand is insatiable.

Since the IPO in 1999, shares of Nvidia are up by 285,000%, which is a compounded return of 37% per year.

Tae Kim is a senior technology writer at Barron’s. To uncover Nvidia’s brilliant story, Tae interviewed more than one hundred people who were involved in their journey, including Jensen himself, his two co-founders, VC investors, and current senior executives and managers.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

06:14 - The unique culture of Nvidia and how they’re able to prevent office politics from creeping in.

15:20 - Jensen’s intense desire to succeed at all costs.

23:06 - How Nvidia became the only graphics chip company from the 1990s that survived.

30:16 - How Nvidia essentially invented the GPU market.

40:49 - Why Nvidia is winning the AI race.

51:47 - How Jensen Huang has prepared Nvidia to dominate the AI revolution.

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.
Tae’s book: The Nvidia Way.
Email Shawn at shawn@theinvestorspodcast.com to attend our free events in Omaha or visit this page.
Follow Tae on X.
Follow Clay on X.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

BTC224: Global Liquidity and Bitcoin w/ Matthew Mezinskis (Bitcoin Podcast)

Wed, 05 Mar 2025 01:00:00 -0000

In this episode, Preston and Matthew dive deep into Bitcoin’s design, its ability to protect financial autonomy, and the macroeconomic trends shaping its value.

Matthew breaks down Bitcoin price models, stock-to-flow analysis, and the role of global liquidity. They also explore the impact of Layer-2 solutions and make bold predictions about Bitcoin’s future in global finance.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:47 - Why Bitcoin serves as an "escape hatch" from centralized financial instability

04:34 - How Bitcoin’s design ensures individual financial autonomy in a digital world

06:26 - What historical economic patterns suggest about Bitcoin’s resilience

13:47 - The most overlooked factors in Bitcoin valuation and price modeling

18:48 - How stock-to-flow holds up today and alternative valuation frameworks

20:39 - Key metrics for tracking global liquidity and Bitcoin’s role as a store of value

28:38 - The significance of macro liquidity and its effect on Bitcoin’s adoption

31:38 The impact of Layer-2 scaling solutions on Bitcoin’s liquidity

43:44 - How Bitcoin’s fixed supply interacts with the need for liquidity in a digital economy

44:12 - A bold 10-year prediction for Bitcoin’s role in reshaping global finance

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

BOOKS AND RESOURCES

Porkopolis Economics website.
Matthew's X Account.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP703: Richer, Wiser, Happier Q1, 2025 w/ Stig Brodersen & William Green

Sun, 02 Mar 2025 01:00:00 -0000

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:51 - What makes you go weak and go strong.

01:51 - Why emotions can be real but not true.

22:03 - How to let go of experiences you would rather forget.

01:03:37 - How to attract the right people into your life.

01:17:47 - How to forge relationships inside and outside of the value investing community.

01:34:29 - Why should your default be to help other people, but ironically also to constantly say no.

01:35:58 - What William and Stig have read the last quarter that made them Richer, Wiser, and Happier.

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.
Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q4 2024.
Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q3 2024.
Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q1 2024.
Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q3 2023.
Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q2 2023.
Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q1 2023.
William’s interview with Terry Smith.
William’s interview with Arnold Van Den Berg.
William’s interview with Tsoknyi Rinpoche and Daniel Goleman.
Stig and Preston’s episode on The Speed of Trust.
Daniel Goleman’s book, Emotional Intelligence.
David Hawkins’ book, Power Vs. Force.
David Hawkins’ book, The Eye of the I.
Robert M. Pirsig’s Book, Zen and the Art of Motorcycle Maintenance.
Tara Bennett-Goleman’s book, Emotional Alchemy.
Stephen Covey’s book, The Speed of Trust.
Pico Iyer’s book, Aflame.
Email Shawn at shawn@theinvestorspodcast.com to attend our free events in Omaha or visit this page.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP702: Hedging Against Market Crashes w/ Kris Sidial

Fri, 28 Feb 2025 01:00:00 -0000

On today’s episode, Clay is joined by Kris Sidial to discuss tail risk hedging. A tail risk hedging strategy is designed to help investors protect their portfolios from extreme market downturns, reducing the risk of significant capital loss. By mitigating large drawdowns, investors can potentially achieve a smoother return profile over time, enhancing their Sharpe ratio and the long-term growth of their portfolio.

Kris Sidial is the co-investment officer of Ambrus Group, which implements a carry-neutral tail risk hedging strategy to protect investors against market crashes.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:40 - What a tail risk hedging strategy is and how it’s implemented.

06:25 - What is the VIX, and how it ties into a tail risk hedging strategy.

08:28 - Examples of historical market blowups where a tail risk strategy thrives.

21:07 - Why the reflexive nature of markets has led to more violent and swift drawdowns in recent years.

31:06 - The benefits of a tail risk strategy to investor portfolios.

50:41 - Legendary traders Kris looks up to and books that influenced him the most.

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.
Kris’s firm: Ambrus Group.
Book mentioned: The Misbehavior of Markets.
Episode mentioned: TIP128: Edward Thorp: Investing Legend, Math Genius.
Email Shawn at shawn@theinvestorspodcast.com to attend our free events in Omaha or visit this page.
Follow Kris on Twitter.
Follow Clay on Twitter.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

BTC223: Tether's 13.7 Billion in Profits w/ Paolo Ardoino (Bitcoin Podcast)

Wed, 26 Feb 2025 01:00:00 -0000

In this episode, Preston and Paolo discuss Tether’s massive $13.7 billion profit, its growing strategic importance, and whether Wall Street banks will enter the stablecoin space.

They also explore Tether’s expansion into AI, real estate, and Brain-Computer Interfaces, alongside its big move to El Salvador. They also discuss what running Tether on Lightning means for payments and the future of tokenized assets in the UAE.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:05 - How Tether achieved $13.7 billion in profits last year.

07:14 - Why Wall Street banks might try to compete in the stablecoin space.

13:11 - The impact of running Tether on the Lightning Network via TAP.

20:07 - Challenges and opportunities in Lightning Network routing.

22:04 - The future of tokenized equity in the UAE and global accessibility.

30:18 - Tether’s massive move to El Salvador and its 70-story building project.

33:32 - How Tether is expanding into AI with DeepSeek and open-source solutions.

35:11 - The role of Reelly Tech in real estate transactions.

41:25 - Why Tether invested $200M in Blackrock Neurotech and its AI SDK strategy.

47:15 - How all these moves fit into Tether’s long-term vision.

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

BOOKS AND RESOURCES

Article on How Tether Achieved $13.7 Billion in Profits Last Year.
Article on Tether on the Lightning Network.
Article on Tether’s move to El Salvador.
Paolo’s X Account.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP701: Against The Gods w/ Kyle Grieve

Sun, 23 Feb 2025 01:00:00 -0000

In today's episode, Kyle Grieve discusses the book Against The Gods and how risk has evolved over history, why risk management was deeply routed in gambling, how the insurance industry was launched, revolutionary learnings on risk from brilliant historical figures, how regression was formulated and how it tricks investors, the two economists who upended utility theory, the powerful concept of prospect theory and how it showed how irrational humans are, and much more!

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

06:52 - Why a human “calculator” can’t win in the market, and the key skills that drive investing success.

08:54 - The two critical risk concepts Cardano introduced to beat the odds—still useful for investors today.

11:12 - How Pascal and Fermat cracked the ‘problem of points’ and laid the groundwork for market probability models.

15:09 - How Daniel Bernoulli connected intuition with measurement.

20:24 - How Bayes’ rule transformed probability theory.

25:55 - Why focusing on the downside matters most—especially when the market is euphoric.

26:33 - How regression to the mean distorts our view of performance—and tricks investors into bad decisions.

38:47 - Why diversification can sometimes increase risk.

43:49 - How prospect theory rewrote the rules of decision-making—explaining why investors act irrationally.

52:01 - Why investors cling to bad ideas—how biases and ego can sabotage returns.

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.
Buy a copy of Against The Gods here.
Follow Kyle on Twitter and LinkedIn.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP700: How to Invest during Fiscal Dominance w/ Lyn Alden

Fri, 21 Feb 2025 01:00:00 -0000

On today’s episode, Clay is joined by Lyn Alden to discuss fiscal dominance and its implications for investors. While many value investors claim that following the macro environment isn’t all that important, Lyn makes the compelling case that fiscal dominance has a considerable impact on financial markets overall.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:03 - What fiscal dominance is and why it matters.

08:39 - Why the S&P 500 is at all-time highs with the backdrop of higher interest rates.

11:36 - Whether Lyn expects US big tech to continue to outperform.

19:05 - How the US will continue to run large fiscal deficits.

28:55 - Why nothing stops the fiscal dominance train.

36:20 - Where we are at in the liquidity cycle.

41:08 - How to invest during a period of fiscal dominance.

55:19 - Lyn’s three major trends to never fade.

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.
Lyn’s book: Broken Money.
Lyn’s blog and X account.
Email Shawn at shawn@theinvestorspodcast.com to attend our free events in Omaha or visit this page.
Follow Clay on Twitter.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

BTC222: Top 5 Bitcoin Clips of Q1 2025 w/ Joe Burnett (Bitcoin Podcast)

Wed, 19 Feb 2025 01:00:00 -0000

In this episode, Joe Burnett and Preston Pysh analyze five key video clips featuring insights from Michael Saylor, Trace Mayer, Nik Bhatia, Tad Smith, and Howard Lutnick.

They explore Bitcoin’s role in capital flow, how it disrupts traditional incentives, the mechanics of fiat money, the impact of monetary expansion on asset prices, and Bitcoin’s growing importance in global finance.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:20 - Michael Saylor’s "Waterfall Analogy" and why capital naturally flows into Bitcoin.

15:26 - How Bitcoin changes global incentives, reducing the motivation for violence.

21:14 - The inner workings of the bond market and how fiat money expansion resembles a Ponzi scheme.

40:08 - Why asset prices are primarily driven by money supply growth.

42:56 - Howard Lutnick’s bullish stance on Bitcoin and its future role in global finance.

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

BOOKS AND RESOURCES

Waterfall Analogy by Michael Saylor.
How Bitcoin Destroys The Economics of Violence by Trace Mayer.
Newly Created Fiat Credit is Buying Bitcoin by Nik Bhatia.
Outperforming the Money Printer is Difficult Without Bitcoin by Tad Smith.
Howard Lutnick on Pomp.
Joe’s X Account.
Joe’s YouTube channel.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP699: Unlocking High-Growth Investments w/ Jason Donville and Jesse Gamble

Sun, 16 Feb 2025 01:00:00 -0000

In today's episode, Kyle Grieve chats with Jason Donville and Jesse Gamble about their investing philosophy, their emphasis on focusing on growth and value, their evolution from using ROE-focused metrics to the rule of 40 to identify great investing opportunities, how to use the rule of 40 to add high performing businesses to a watchlist, how the market reacts to interest rates, AI impact on the business landscape, and much more!

Jason Donville is an award-winning analyst with a distinguished career in Asia and Canada. He previously served as Head of Equity Research at Credit Lyonnais Securities Asia and Research Director at Credit Suisse First Boston, working in Singapore and Jakarta before joining Sprott Securities in Toronto. His research has traditionally focused on identifying high-ROE companies. Jason holds a BA from the Royal Military College of Canada and an MBA from Ivey Business School.

Jesse Gamble has worked closely with Jason to manage the DKAM Capital Ideas Fund since 2011. Jesse received an MBA from the Ivey Business School at Western University and a B.Sc. degree from the Dyson School of Economics at Cornell University.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:42 - The hidden formula for finding cheap stocks.

07:53 - The secret to spotting a deteriorating moat.

10:45 - How elite investors stay focused in a bear market.

13:37 - The evolution of a winning investment strategy.

27:41 - The untapped goldmine in small-cap stocks.

31:39 - Why the market consistently misprices quality growth.

31:39 - The Rule of 40: your cheat code for finding long-term winners.

36:11 - A playbook for finding 10-bagger stocks.

56:47 - The AI revolution: where the real business impact is happening.

56:47 - Why there’s more cash on the sidelines than ever.

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.
Read DKAM’s Investor Letters here.
Listen to my first interview with Jason and Jesse here.
Follow Kyle on Twitter and LinkedIn.
Email Shawn at shawn@theinvestorspodcast.com to attend our free events in Omaha or visit this page.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP698: Best Quality Stock Idea Q1 2025 w/ Clay Finck & Kyle Grieve

Fri, 14 Feb 2025 01:00:00 -0000

On today’s episode, Clay and Kyle give an overview of their best quality stock idea for Q1 2025. This quarter, they discuss AppFolio.

AppFolio is a high-growth software company revolutionizing property management. Clay and Kyle explore its impressive revenue growth, competitive advantages, and how AI-driven innovations like Realm-X are helping AppFolio capture market share. The conversation also covers key risks, the competitive landscape, and the company's valuation, providing listeners with a comprehensive analysis of whether AppFolio is a compelling investment opportunity.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:49 - A business overview of AppFolio.

13:04 - The five parties that AppFolio supports with their software services.

22:10 - How AppFolio is utilizing AI to create a moat around their business.

25:35 - Why AppFolio is a payments business disguised as a SAAS business.

30:16 - An overview of the competitive environment for AppFolio.

39:19 - Why we would consider adding back R&D expenses to determine a proper valuation for the business.

44:03 - An assessment of AppFolio’s management team, incentives, and valuation.

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.
Research stocks and SEC filings with Fintool.
Mentioned Episode TIP465: Value Investing in the Digital Age w/ Adam Seessel.
Related Episode: TIP604: Best Quality Idea Q1 2024 w/ Clay Finck & Kyle Grieve.
Related Episode: TIP627: Best Quality Idea Q2 2024 w/ Clay Finck & Kyle Grieve.
Related Episode: TIP652: Best Quality Idea Q3 2024 w/ Clay Finck & Kyle Grieve.
Related Episode: TIP675: Best Quality Idea Q4 2024 w/ Clay Finck & Kyle Grieve.
Email Shawn at shawn@theinvestorspodcast.com to attend our free events in Omaha or visit this page.
Follow Kyle on Twitter.
Follow Clay on Twitter.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

BTC221: Bitcoin Self-Repaying Mortgage Products w/ CJ Konstantinos (Bitcoin Podcast)

Wed, 12 Feb 2025 01:00:00 -0000

CJ Konstantinos, founder of People’s Reserve, shares his journey into Bitcoin, the philosophy behind his company, and groundbreaking products like self-paying mortgages. Discover insights on Bitcoin-backed loans, navigating regulatory challenges, and the evolution of traditional banking in a Bitcoin-driven world.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:06 - CJ Konstantinos’s journey into Bitcoin and the motivation to create People’s Reserve.

13:28 - How Bitcoin-backed loans work and their potential benefits.

14:40 - The innovative concept of self-paying mortgages and how they function.

15:37 - Insights into Bitcoin bonds and their role in solving economic challenges.

18:40 - The regulatory challenges People’s Reserve faces and strategies for compliance.

23:38 - How CJ envisions Bitcoin as the reserve asset of the internet economy.

41:21 - The evolving role of traditional banks as cryptocurrency adoption grows.

44:25 - Exciting developments in the Bitcoin ecosystem that could shape the future of finance.

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

BOOKS AND RESOURCES

CJ’s X Account.
People’s Reserve Website.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

RWH054: Billionaire Brit w/ Terry Smith

Sun, 09 Feb 2025 01:00:00 -0000

In this episode, William Green chats with British investing legend Terry Smith. Terry, a member of Bloomberg’s index of billionaires, manages the Fundsmith Equity Fund, which is the UK’s largest stock fund. Since 2010, it’s returned more than 600%, beating the MSCI World Index by over 200 percentage points. Here, Terry talks in depth about the skills, personality traits, & principles that catapulted him from poverty to the pinnacle of the investing world.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

04:01 - How Terry Smith was shaped by poverty & violence.

35:17 - How he achieved fame by exposing financial deception.

39:26 - What he looks for when identifying great businesses.

46:54 - Why many of his favorite companies are 100 years old.

51:56 - Which sectors he shuns & which he likes.

58:42 - How Microsoft embodies what he loves in a business.

1:00:29 - Why it’s worth paying up for the best companies.

1:20:15 - Why the US is his favorite place to invest.

1:21:44 - How being a CEO made him a better investor.

1:32:07 - What he learned from Sir John Templeton.

1:35:46 - Why he refuses to speak with brokers or read their research.

1:40:30 - Why it’s hard to be successful professionally & personally.

1:52:46 - Why he’s deeply skeptical about Tesla.

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

BOOKS AND RESOURCES

Terry Smith’s investment firm, Fundsmith.
Terry Smith’s book, Investing for Growth.
Terry Smith’s book, Accounting for Growth.
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.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP697: The Secret to Buffett’s Business Success w/ Lawrence Cunningham

Fri, 07 Feb 2025 01:00:00 -0000

On today’s episode, Clay is joined by Lawrence Cunningham to discuss the value of trust-based cultures and organizations, and the value Warren Buffett has created by implementing such an approach at Berkshire Hathaway.

Cunningham is the Director of the University of Delaware's John L. Weinberg Center for Corporate Governance. He’s the sitting director on three global public company boards — Constellation Software, Markel Group, and Kelly Partners Group.

Cunningham is a best-selling author of a number of books, including “The Essays of Warren Buffett,” “Quality Investing,” and “Quality Shareholders.”

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:34 - The primary role of the board of directors for a public company.

04:52 - The value of trust-based cultures and organizations.

16:19 - The key attributes of a trust-based organization.

26:11 - How Warren Buffett identifies trustworthy people.

45:09 - The story of David Sokol breaking Warren Buffett’s trust.

55:52 - Lawrence’s thoughts on Berkshire’s $300B+ cash position.

01:00:08 - How Lawrence navigates investing in a world where a premium is placed on quality companies.

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.
Clip of Buffett testifying on behalf of Salomon Brothers.
Weinberg Center for Corporate Governance.
The Essays Of Warren Buffett: Lessons For Corporate America here.
Buy Dear Shareholder: The best executive letters from Warren Buffett, Prem Watsa and other great CEOs here.
Cunningham’s books — Margin of Trust, The Essays of Warren Buffett, and more.
Email Shawn at shawn@theinvestorspodcast.com to attend our free events in Omaha or visit this page.
Connect with Lawrence on LinkedIn.
Follow Clay on Twitter.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

BTC220: US dollars on Bitcoin Lightning w/ Luke Gromen (Bitcoin Podcast)

Wed, 05 Feb 2025 01:00:00 -0000

Bitcoin’s Lightning Network is evolving into a global payments system, with over 21,000 active nodes enabling fast, low-cost transactions. Tether’s integration of USDT via the Taproot Asset Protocol could disrupt traditional finance, lowering transaction costs and increasing efficiency. This shift challenges banks and payment networks like Visa and Mastercard, pushing the financial system toward Bitcoin-backed tokenization.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:04 - How the Lightning Network enhances Bitcoin’s role beyond a store of value.

18:35 - How U.S. Treasuries and Bitcoin-backed tokenization are reshaping finance.

19:38 - Why Tether’s adoption of the Taproot Asset Protocol is a game-changer for stablecoins.

20:15 - The decentralization advantages of Lightning vs. other blockchain networks.

23:10 - How Tether’s U.S. Treasury holdings impact the financial system.

24:53 - The potential disruption of traditional banking and payment networks.

31:42 - The long-term implications of Lightning’s growing adoption in payments.

35:14 -Why banks may need to integrate Bitcoin-backed assets to stay competitive.

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

BOOKS AND RESOURCES

Luke’s X Account.
Luke’s FFTT Newsletter.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP696: Mastermind Discussion Q1, 2025 w/ Stig Brodersen, Tobias Carlisle, and Shawn O'Malley

Sun, 02 Feb 2025 01:00:00 -0000

In today's episode, Stig Brodersen is talking stocks with Tobias Carlisle and Shawn O’Malley. Tobias is pitching VeriSign, a business that prints money with high certainty year after year. Stig’s pick is the serial acquirer LIFCO, a wonderful company priced for perfection that he is on his watch list. Shawn’s stock of choice is the compounder, Ulta Beauty.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:19 - Why Toby is bullish on VeriSign (Ticker on NASDAQ: VRSN)

07:29 - The bear case of VeriSign, including the threat of AI

26:40 - Stig’s bull case is for Lifco (Ticker on the Swedish Stock Exchange: Lifco-B)

42:35 - The bear case for Lifco, including what it implies to be priced for perfection.

1:07:45 - Why Shawn has invested in Ulta Beauty (Ticker on NASDAQ: ULTA)

1:26:46 - The bear case for Ulta includes competitive pressure from Sephora and the CEO stepping down.

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.
Stig Brodersen’s Portfolio and Track record.
Listen to Mastermind Discussion Q4 2024 or watch the video.
Listen to Mastermind Discussion Q3 2024 or watch the video.
Listen to Mastermind Discussion Q2 2024 or watch the video.
Tune in to the Mastermind Discussion Q1 2024 or watch the video.
Listen to Mastermind Discussion Q4 2023 or watch the video.
Tune in to the Mastermind Discussion Q3 2023 or watch the video.
Listen to Mastermind Discussion Q2 2023 or watch the video.
Tune in to Mastermind Discussion Q1 2023 or watch the video.
Tobias Carlisle's podcast, The Acquirers Podcast
Tobias Carlisle's ETF, ZIG.
Tobias Carlisle's ETF, Deep.
Tobias Carlisle's book, The Acquirer's Multiple – read reviews of this book.
Tobias Carlisle's Acquirer's Multiple stock screener: AcquirersMultiple.com.
Tweet directly to Tobias Carlisle.
Tweet directly to Shawn O'Malley.
Check out The Intrinsic Value Podcast on X (Twitter).
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP695: The Story of Tencent: China's Tech Behemoth w/ Clay Finck

Fri, 31 Jan 2025 01:00:00 -0000

While the mainstream headlines often focus on the Magnificent Seven, we’re diving into a global powerhouse that often flies under the radar — Tencent. Based in Shenzhen, China, Tencent is a giant in gaming, social media, and cloud services. From the creation of WeChat—a super-app with over a billion monthly users—to investments in companies like Tesla, Spotify, and Snapchat, Tencent’s story is one of relentless innovation and strategic dominance.

Since its IPO in 2004, shares of Tencent have increased by nearly 500 times, producing an average annual return of 35% per year.

To help cover the story of Tencent, Clay will be sharing what he learned from the book Influence Empire by Lulu Chen.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:54 - Tencent’s journey from IPO to becoming a global tech powerhouse.

05:28 - Lessons from Pony Ma’s leadership and Tencent’s strategic vision.

18:33 - How Tencent’s investments shaped global tech innovation and growth.

31:12 - The evolution and impact of WeChat as a transformative super-app.

49:11 - Insights into Tencent’s dominance in the gaming industry.

57:15 - Challenges of navigating Chinese regulations and political risks.

01:08:47 - Tencent’s role in AI, cloud services, and strategic share buybacks.

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.
Chen’s book: Influence Empire.
Email Shawn at shawn@theinvestorspodcast.com to attend our free events in Omaha or visit this page.
Related Episode: Listen to TIP661: Betting Big on China & Lessons from Bear Markets w/ Richard Lawrence.
Related Episode: Listen to TIP636: Billionaire Investing Legend Li Lu w/ Clay Finck.
Related Episode: Listen to TIP682: Buffett's Early Investments.
Follow Clay on Twitter.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

BTC219: The Big Print w/ Lawrence Lepard

Wed, 29 Jan 2025 01:00:00 -0000

This episode dives deep into the systemic issues of broken money, the hidden impact of inflation, and the concentration of power in financial systems. Our guest unpacks how sound money, Bitcoin, and decentralization could lead to a fairer, more stable society. We discuss historical cycles, societal consequences, and practical steps for individuals to drive meaningful change.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

05:42 - How ‘broken money’ manifests in everyday life and its hidden societal costs.

09:03 - Why inflation acts as a hidden tax and why it remains misunderstood.

11:44 - The role of the Federal Reserve in shaping American society and the economy.

15:02 - Why fiat currencies historically fail and humanity’s recurring lessons.

17:44 - The relevance of Gresham’s Law in a world of competing currencies.

29:20 - The moral argument for sound money and its long-term societal benefits.

33:49 - Practical steps individuals can take to support monetary decentralization.

38:28 - How Bitcoin and decentralization challenge traditional monetary systems.

41:55 - Lessons from history that can guide us through cycles of crisis and renewal.

44:44 - A vision for a future America thriving on sound money principles.

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

BOOKS AND RESOURCES

Lawrence Lepard’s new book, The Big Print.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP694: The Scuttlebutt Edge: From Research to Returns w/ Kyle Grieve

Sun, 26 Jan 2025 01:00:00 -0000

In today's episode, Kyle Grieve will discuss the concept of scuttlebutt, made famous by Philip Fisher in Common Stocks and Uncommon Profits. You’ll learn why scuttlebutt is essential for building conviction and understanding both bullish and bearish perspectives, how it involves learning from key groups connected to a business, how asking the right questions can reveal valuable insights, why Industry specialists and strong networking are crucial for gathering expert knowledge, and how to utilize self-reflection, journaling to continuously improve your decision-making, and much more!

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:55 - Why scuttlebutt is so essential in building conviction and learning about a business.

03:32 - Why scuttlebutt can help you understand bullish and bearish perceptions on a business.

10:03 - The four parties related to a business that you should learn from.

26:34 - What you can learn and what questions to ask a business’s employees, from the people working at the “frontline” to the CEO.

36:49 - How Warren Buffett sleuthed GEICO, which was one of the most impactful events in his life.

49:50 - How to learn from industry specialists and what to ask to learn about specific companies or industries.

54:51 - Details on how Li Lu did scuttlebutt on a very successful investment in Timberland.

55:01 - Why networking is so crucial to the scuttlebutt process.

58:11 - How to use self-reflection and journaling to understand better your mistakes and how to avoid them in the future.

01:07:01 - My four-step framework for learning from my investing mistakes.

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.
Buy Damn Right! Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger here.
Follow Kyle on Twitter and LinkedIn.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP693: The Power Law: Unlocking Venture Capital's Secrets w/ Clay Finck

Fri, 24 Jan 2025 01:00:00 -0000

In this episode, Clay explores The Power Law by Sebastian Mallaby and uncovers the secret behind venture capital’s astonishing success.

The Power Law is a fundamental law of the universe that explains why just a handful of disruptive companies, like Google and Tesla, generate the lion’s share of returns. To win in the world of venture capital, investors must seek out bold, unconventional founders to back the next big idea. Tune in to learn how understanding the Power Law can transform your perspective on investing and help you spot tomorrow’s breakout winners.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:53 - The critical role of the Power Law in venture capital and why a few outliers drive most of the returns.

30:54 - How venture capitalists identify and back bold, unconventional founders like Steve Jobs and Elon Musk.

30:54 - The fascinating history behind the rise of venture capital firms like Sequoia Capital and their game-changing investments.

36:22 - Why early-stage companies delay going public and the shift in bargaining power from VCs to founders.

01:06:47 - Insights into the mistakes investors make when exiting too early or dismissing "crazy" ideas that turn into trillion-dollar companies.

01:08:16 - Lessons for public equity investors on spotting disruption and understanding the potential of emerging innovators.

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.
Mallaby’s book: The Power Law.
Jim Sinegal’s interview with the Motley Fool.
The Science of Hitting Blog.
Email Shawn at shawn@theinvestorspodcast.com to attend our free events in Omaha or visit this page.
Related Episode: Listen to TIP481: Our Story w/ Stig Brodersen & Clay Finck.
Related Episode: Listen to TIP686: Big Tech Stocks w/ Adam Seessel.
Related Episode: Listen to TIP417: The Incredible Story of the PayPal Mafia w/ Jimmy Soni.
Related Episode: Listen to TIP667: Why Most Stocks Will Lose You Money w/ Hendrik Bessembinder.
Follow Clay on Twitter.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

BTC218: Bitcoin Mining 101 w/ Adam Haynes (Bitcoin Podcast)

Wed, 22 Jan 2025 01:00:00 -0000

In this episode, Adam Haynes from SimpleMining.io breaks down Bitcoin mining fundamentals, energy innovations, and advanced technologies like AI and quantum computing. We explore hashrate growth, the debate between mining and buying Bitcoin, and strategies for engaging new adopters.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:43 - The basics of Bitcoin mining and how block templates are created.

04:28 - How transaction fees support the Bitcoin ecosystem.

09:22 - The impact of hashrate growth on Bitcoin’s security and profitability.

11:45 - The role of renewable and nuclear energy in Bitcoin mining.

14:39 - The potential effects of quantum computing on Bitcoin security.

20:40 - Effective ways to introduce and engage new Bitcoin enthusiasts.

22:00 - Dollar-cost averaging (DCA) through mining versus buying Bitcoin.

27:02 - How Bitcoin mining companies might transition to AI-driven data centers.

28:38 - Insights into interest rate trends and their implications for Bitcoin.

30:35 - MicroStrategy’s influence on Bitcoin adoption and corporate treasury strategies.

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

BOOKS AND RESOURCES

Adam’s X Account.
Adam’s LinkedIn Account.
Adam’s company: Simple Mining.
Gigi’s article: Bitcoin is Time.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP692: Reading the Signals: How To Identify Winning Investments w/ Andrew Martin

Sun, 19 Jan 2025 01:00:00 -0000

In today's episode, Kyle Grieve chats with Andrew Martin about how he utilized his PhD in investing, the typical traits Andrew looks for in great investments, valuable physics-related mental models to improve your thinking processes, why Andrew is attracted to smallcap stocks, how Andrew utilizes his inflection point strategy to beat the market, how he evolved from an asset-based investor to where he is today, how to think about technological disruption in low-tech industries and much more!

Andrew Martin is the CEO of Fairlight Capital. Andrew has decades of experience working for large global insurance companies and asset managers managing billions of dollars. He has worked with companies such as Accenture and AIG. Andrew graduated with a B.Sc. in Theoretical Physics from the University of York and a doctorate in Astrophysics from the University of Oxford.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

05:06 - The physical cue that Andrew looks out for to help him subconsciously identify fantastic investing opportunities.

The traits that Andrew searches for in potential investments.

10:53 - How to combat biases in investing to avoid making big mistakes.

12:56 - How to utilize a natural contrarian nature to your advantage in investing.

16:59 - A valuable earthquake mental model to help you find hidden fundamentals that the market can overlook.

28:09 - Why Andrew settled on investing in small-caps.

33:24 - Why Andrew has a few concentrated positions while maintaining a few more minor positions.

38:35 - Andrew's evolution from an asset-based value investor to a growth at a reasonable price investor.

01:02:04 - How technology is disrupting low-tech industries and rapidly transforming business models.

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.
Read Andrew’s investor letters here.
Follow Kyle on Twitter and LinkedIn.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP691: Sol Price: The Retail Visionary Behind Costco w/ Clay Finck

Fri, 17 Jan 2025 01:00:00 -0000

Clay dives into the life and legacy of Sol Price, the pioneering retail entrepreneur who revolutionized the industry with FedMart and Price Club, ultimately leading to the creation of Costco.

The episode explores how Price's business philosophies, including treating employees well and maintaining a relentless focus on providing value to customers, inspired iconic entrepreneurs like Sam Walton and Jeff Bezos.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:45 - The story of Sol Price starting Fedmart and Price Club.

19:30 - Sol Price’s core business philosophies

50:47 - The key ingredients to the success of Costco’s business model.

52:58 - What led to the emergence of Costco and the eventual merger with Price Club.

01:01:40 - An overview of Costco’s business model today

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.
Books mentioned: Sol Price: Retail Revolutionary & Social Innovator, and The Joy of Costco.
Jim Sinegal’s interview with the Motley Fool.
The Science of Hitting Blog.
Email Shawn at shawn@theinvestorspodcast.com to attend our free events in Omaha or visit this page.
Related Episode: Listen to TIP492: The Best Investor You've Never Heard Of.
Related Episode: Listen to TIP634: Value Investing Fundamentals w/ John Huber.
Follow Clay on Twitter.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

BTC217: MicroStrategy 2025 w/ Jeff Walton (Bitcoin Podcast)

Wed, 15 Jan 2025 01:00:00 -0000

Join us as Jeff Walton unpacks MicroStrategy's innovative financial strategies, including leveraging Bitcoin volatility, issuing convertible bonds, and building a balance sheet of permanent capital. We dive into valuations, ETF dynamics, accretive dilution, and what it means to be the "bank of the future."

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:49 - What "capturing the spread" means in MicroStrategy's strategy.

02:32 - The difference between issuing convertible notes and common stock.

06:26 - An explanation of accretive dilution and its role in corporate strategy.

09:44 - How MicroStrategy's Bitcoin holdings position it as a "bank of the future."

20:52 - Insights into constructing a leveraged balance sheet with permanent capital.

23:04 - Why MicroStrategy issued two consecutive convertible bonds.

28:49 - How Michael Saylor's "Bitcoin nuclear reactor" concept reshapes volatility.

39:47 - The impact of entering the NASDAQ and index weighting on stock performance.

48:33 - Metrics to consider when starting a position in MicroStrategy or Bitcoin.

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

BOOKS AND RESOURCES

Jeff’s X Account.
Jeff’s YouTube Account.
Michael Saylor’s full interview.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

RWH053: Trouble Ahead w/ Bill Priest

Sun, 12 Jan 2025 01:00:00 -0000

In this episode, William Green speaks with Barron’s Roundtable member Bill Priest, who is Vice Chairman of TD Wealth and founder, Chairman, and Co-Chief Investment Officer of TD Epoch. Bill is the co-author of several books, including “Winning at Active Management.” Having prospered for six decades in the financial markets, Bill has seen it all. Here, he talks about his core investing principles & why he believes investors are too complacent in the face of mounting risk & fragility.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

06:50 - How Bill Priest fell in love with the stock market.

40:30 - Why he focuses relentlessly on free cash flow & cost of capital.

41:11 - How he goes about analyzing a business.

48:41 - Why growth stocks may start to struggle.

50:47 - Why he’s worried about the threat of stagflation.

59:16 - How investors can protect themselves from an unknowable future.

1:03:36 - Why AI is unstoppable, not just another bubble.

1:07:35 - Why he’d be “very careful” about investing in China.

1:15:38 - Why you should keep ample cash to ride out difficult times.

1:17:20 - Why his exposure to equities is much lower than usual.

1:21:16 - How to be a successful leader.

1:57:16 - What he’s learned from his daughter about happiness.

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

BOOKS AND RESOURCES

Bill Priest’s investment firm, Epoch Investment Partners.
Bill Priest’s book, “Free Cash Flow & Shareholder Yield.”
Bill Priest’s book, “Winning at Active Management.”
Anne Applebaum’s book “Autocracy, Inc.”
Ruchir Sharma’s book, “What Went Wrong with Capitalism.”
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.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP690: Top Stocks for 2025 & The "Buy" List w/ Eddy Elfenbein

Fri, 10 Jan 2025 01:00:00 -0000

On today’s episode, Clay is joined by Eddy Elfenbein to discuss his top stock picks for 2025. After Clay lets Eddy go, he also outlines his top stock pick for 2025 — Lumine Group.

Eddy Elfenbein is a portfolio manager and creator of the Buy List, a portfolio of high-quality stocks that have consistently outperformed the market. Known for his Crossing Wall Street blog, he simplifies complex financial concepts into actionable insights for investors.

He also manages the AdvisorShares Focused Equity ETF ($CWS), which is based on his Buy List of high-quality stocks.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

04:29 - Eddy’s views on the current market and economy.

07:00 - The Buy List’s top performers from 2024.

14:41 - An overview of the names he added and removed from The Buy List.

30:38 - How Eddy balances being aware of the macro environment without letting it override his investment process.

44:15 - The investment thesis for Lumine Group.

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.
The Buy List for 2025.
Crossing Wall Street Blog and Substack.
ETF (Ticker: CWS) information.
Clay’s previous episode on Mark Leonard’s shareholder letters.
Check out Interactive Brokers.
Seeking Winners Substack (Lumine write-up is titled, ‘Carving Out Growth’).
Email Shawn at shawn@theinvestorspodcast.com to attend our free events in Omaha or visit this page.
Follow Clay on Twitter.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

BTC216: Bitcoin Transforming Africa w/ Erik Hersman and Charlene Fadirepo (Bitcoin Podcast)

Wed, 08 Jan 2025 01:00:00 -0000

In this episode, we discuss the Africa Bitcoin Conference, the passion for Bitcoin and human rights in Africa, and the innovative solutions tackling energy and financial inclusion. Featuring insights from Erik Hersman (Gridless) on energy infrastructure and Charlene Fadirepo on empowering African women through Bitcoin, we uncover how this technology is reshaping lives and creating opportunities for a brighter future.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:02 - Why the Africa Bitcoin Conference was so impactful and community-driven.

10:24 - How Erik Hersman and Gridless are solving the energy challenge in rural African communities.

15:21 - The role of Bitcoin in empowering individuals and advancing human rights.

15:36 - Key partnerships and energy sources powering Bitcoin mining in Africa.

21:40 - Secondary effects of energy infrastructure on local villages.

31:41 - Insights into Charlene Fadirepo’s four laws to leap and their relevance to Africa's Bitcoin transformation.

43:17 - The financial challenges and systemic inequality historically faced by marginalized communities, and how Bitcoin offers a reset.

49:43 - How education and talent in Africa are driving Bitcoin adoption.

51:30 - Practical ways individuals can contribute to Bitcoin’s growth in Africa.

BOOKS AND RESOURCES

Erik’s X Account.
Charlene’s X Account.
Charlene’s New Book: The Bitcoin Leap: How Bitcoin is Transforming Africa.
Gridless Website.
B-Trust Website.
ABC Conference Website.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals 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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP689: My Journey into Financial Independence w/ Stig Brodersen

Sun, 05 Jan 2025 01:00:00 -0000

In today's episode, Stig Brodersen podcasts about his journey into financial freedom.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:45 - Why people overestimate what they can do in a year and underestimate what they can do in a year

05:14 - The tipping point for Stig

08:28 - Why most people don’t want to be financially independent.

11:58 - Why money can – sort of – buy you happiness

15:55 - How much money one needs to retire

17:00 - How to define financial independence

18:22 - Why you (maybe) need equity to achieve financial independence

21:56 - How to value private businesses

26:42 - What do you do when you reach your number? What is your why?

30:47 - Why you should have negotiables and non-negotiables

33:01 - How to avoid lifestyle creeps

37:34 - Why financial independence is a lonely journey

41:49 - Why the journey is the best part

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.
Stig’s blog post on his portfolio and track record since 2014.
Stig and Clay’s podcast episode on Stig’s return since 2014 | Youtube Video.
Check out the criteria of companies in the UK that Stig is interested in buying.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP688: Long-Term Market Cycles w/ Rob Arnott

Fri, 03 Jan 2025 01:00:00 -0000

On today’s episode, Clay is joined by Rob Arnott to discuss the Fundamental Index, the equity risk premium, and where Rob believes we’re at in the value cycle.

Rob Arnott is the founder and chairman of the board of Research Affiliates. Rob plays an active role in the firm’s research, portfolio management, product innovation, business strategy, and client-facing activities. He is a member of the Executive Committee of the board. Rob is co-portfolio manager on the PIMCO All Asset and All Asset All Authority funds and the PIMCO RAE™ funds.

Over his career, Rob has endeavored to bridge the worlds of academic theorists and financial markets, challenging conventional wisdom and searching for solutions that add value for investors.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:02 - What the Fundamental Index is and how it has performed over the past two decades

16:32 - How to calculate the equity risk premium

23:44 - Why short-term forecasts are impossible to project accurately, but long-term forecasts are not

27:50 - Where Rob believes we are in the value cycle

44:03 - Why companies that get removed from the index tend to outperform those that get added

49:21 - How companies get added to the S&P 500

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.
Check out the Research Affiliates.
Follow Rob on LinkedIn.
Email Shawn at shawn@theinvestorspodcast.com to attend our free events in Omaha or visit this page.
Follow Clay on Twitter.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

BTC215: Global Macro and Bitcoin Q1 2025 w/ Luke Gromen (Bitcoin Podcast)

Wed, 01 Jan 2025 01:00:00 -0000

Luke Gromen unpacks the dynamics of stablecoins and T-bills, Bitcoin’s role as a fiscal policy marker, and the implications of yield curve control. We delve into U.S. dollar devaluation, global liquidity in 2025, and the interplay of tariff threats and international Bitcoin reserves.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:10 - Why total federal receipts over 18% of GDP have historically led to recessions.

11:25 - The connection between stablecoins and T-bill demand, and its influence on Bitcoin adoption.

21:58 - How the Bank of England’s yield curve control impacts Bitcoin’s bullish potential.

23:42 - Luke’s argument for early U.S. dollar devaluation to manage debt-to-GDP ratios.

24:46 - Luke’s perspective on global liquidity trends for 2025.

26:11 - The role of Bitcoin as a marker of U.S. fiscal policy failures.

28:29 - How tariff negotiations could push nations to adopt Bitcoin reserves.

29:35 - Developments in China, Canada, and France, and their potential effects on global finance.

34:26 - Steps for transitioning to a Bitcoin standard in global credit systems.

50:42 - Luke’s strategic approach if advising the U.S. government on managing deficits.

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

BOOKS AND RESOURCES

Luke’s X Account.
Luke’s FFTT Newsletter.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals 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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

(Trailer) We Study Billionaires by The Investor's Podcast Network

Wed, 01 Jan 2025 00:48:00 -0000

We Study Billionaires podcast, hosted by Stig Brodersen, Preston Pysh, William Green, Clay Finck, and Kyle Grieve, is the flagship podcast of The Investor’s Podcast Network, with more than 180 Million downloads.

On the show, they interview and study famous financial billionaires including Warren Buffett, Charlie Munger, Howard Marks, and Bill Gates, and they teach you what they learn and how you can apply their investment strategies in the stock market.

Leverage the lessons we learned from studying billionaires and apply them in your own investing journey. Listen to our weekly episodes below.

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP687: The Art of Thoughtful Wealth Creation w/ William Green

Sun, 29 Dec 2024 01:00:00 -0000

In today's episode, Kyle Grieve is joined by co-host William Green, who explores topics like the art of cloning and the nuances required to do it effectively, whether or not contrarianism is a trait that can be learned, the inner workings of Charlie Munger’s incredible mind, and what we can learn from him, how to improve focus while reducing noise in a complex world, the power of simplicity, why quality is so impactful, where successful investors fall on the optimism spectrum, why close-knit communities are so helpful, and much more!

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:53 - The most important investing concepts to adopt to tilt the odds in your favour in an uncertain world.

10:56 - The keys to becoming an expert cloner to improve your investing and life.

24:46 - Why you should search out win-win relationships.

32:34 - The importance of managing emotions.

32:34 - The three emotions that you should be aware of so you can eliminate them as fast as possible to live a better life.

48:27 - The difficulties of being a contrarian and if contrarianism can be taught.

01:06:41 - Why simplicity is so vital to a winning investing strategy.

01:15:30 - The importance of living with quality in all aspects of life.

01:34:56 - How to navigate the spectrum of optimism and pessimism.

01:43:14 - William’s vital takeaways away from being a part of close-knit communities.

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.
Buy Richer, Wiser, Happier here.
Buy Letting Go by David Hawkins here.
Follow Kyle on Twitter and LinkedIn.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP686: Big Tech Stocks w/ Adam Seessel

Fri, 27 Dec 2024 01:00:00 -0000

On today’s episode, Clay is joined by Adam Seessel to discuss the developments of Big Tech over the past couple of years. Adam is an investor in Alphabet and Amazon, and in this discussion, he shares his updated thoughts on the two since he published his book, Where the Money Is, back in 2022.

Adam began his investing career doing research for Sanford C. Bernstein, Baron Capital, and Davis Selected Advisors. After these stints, he started his own firm, Gravity Capital Management. Since beginning a track record in the mid-2000’s he’s beaten the S&P 500. He’s been a contributor for financial writing in Barron’s and Fortune.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:47 - Adam’s key realizations as a value investor over the past 20+ years.

13:36 - How the concept of intrinsic value can help anchor us in reality even though it’s just a mental model we use to evaluate businesses.

27:37 - Adam’s updated views on Alphabet and Amazon since he published his book in 2022.

47:40 - Adam’s approach to taking advantage of the AI wave without paying hefty valuations.

54:01 - Why Progressive Insurance is dominating the auto insurance space.

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.
Adam’s Book: Where the Money Is.
Follow Adam on LinkedIn.
Related Episode: Listen to TIP465: Value Investing in the Digital Age w/ Adam Seessel.
Email Shawn at shawn@theinvestorspodcast.com to attend our free events in Omaha or visit this page.
Follow Clay on Twitter.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

BTC214: Sam Callahan Bitcoin Current Events Rollup (Bitcoin Podcast)

Wed, 25 Dec 2024 01:00:00 -0000

In this episode, Sam Callahan and the host explore key developments in the Bitcoin ecosystem, including BlackRock’s statement on allocation, Marathon Digital’s impressive Bitcoin strategy, and Bitcoin’s positioning as digital gold. The conversation also touches on geopolitical impacts with BRICS, U.S. policies, and Michael Saylor’s vision for Bitcoin's corporate adoption. Additionally, Sam shares insights on health and fitness for a balanced lifestyle.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:25 - Why BlackRock considers a 2% Bitcoin allocation reasonable.

06:14 - How Marathon Digital leads the Bitcoin mining space with 6% of the hashing network.

17:14 - Jerome Powell’s statement on Bitcoin as a competitor to gold.

19:36 - The geopolitical implications of Bitcoin in the context of BRICS and U.S. trade policies.

26:35 - Trump administration's stance on cryptocurrency, with Scott Bessent as Treasury Secretary.

31:30 - The paradox of meme coins like DOGE in the crypto space.

41:16 - Insights from Michael Saylor’s presentation to Microsoft’s board about Bitcoin adoption.

48:32 - Why diet is the key to fitness success, with minimal cardio requirements.

50:20 - The importance of resistance training and viewing carbs as sugar for effective nutrition.

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

BOOKS AND RESOURCES

Sam Callahan on X.
Sam’s and Natalie Brunell’s Newsletter.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals 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:

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP685: Top Takeaways From 2024 w/ Kyle Grieve & Clay Finck

Sun, 22 Dec 2024 01:00:00 -0000

In today's episode, Kyle Grieve is joined by co-host Clay Finck to summarize key learnings from 2024. We chat about the importance of focus and avoiding confusing noise, data that shows how difficult individual stock picks are to succeed in, why you should welcome disconfirming evidence, the impermanence of seemingly impenetrable businesses, how to close feedback loops to ensure investments are on the right track, the importance of being trustworthy and reliable, and much more!

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:11 - Why investors need to focus on the things that matter and how to avoid spending time on noise.

09:19 - Why investors should be aware of the base rates of success of investing in individual stocks (hint, making money is a lot harder than you think).

25:42 - How you can utilize and search out disconfirming evidence to improve your thinking processes.

29:46 - The impermanence of business success and the importance of updating your thinking when new information becomes available.

33:00 - The three sources of investing returns that drive the performance of a stock.

42:53 - How to use punctuated equilibrium to be active at the correct times and inactive at the proper times.

50:52 - Critical lessons on how to close feedback loops for long-term investors.

1:00:29 - How to utilize the "cone of uncertainty" to signal conviction in great ideas.

1:02:49 - Why a great business can still have times of high uncertainty.

1:07:00 - The importance of being trustworthy and reliable.

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.
Listen to Clay’s interview with Chris Mayer here | YouTube Video.
Listen to Clay’s interview with Hendrick Bessimbinder here | YouTube Video.
Listen to William Greens’ interview with Bryan Lawrence here | YouTube Video.
Listen to Clay’s interview with Morgan Housel here | YouTube Video.
Listen to Clay’s interview with John Huber here | YouTube Video.
Listen to Kyle’s review of What I Learned About Investing From Darwin here | YouTube Video.
Listen to Kyle’s interview with Annie Duke here | YouTube Video.
Listen to Kyle’s review of the Nomad Partnership Letters here | YouTube Video.
Listen to Stig’s interview with Mohnish Pabrai here | YouTube Video.
Follow Kyle on Twitter and LinkedIn.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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:

HELP US OUT!

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

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TIP684: Current Market Conditions & Poor Charlie's Almanack w/ Stig Brodersen & Clay Finck

Fri, 20 Dec 2024 01:00:00 -0000

On today’s episode, Clay Finck invites Stig Brodersen to discuss current market conditions and one of Stig’s favorite books — Poor Charlie’s Almanack.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:23 - How Stig and Clay think about today’s market.

08:02 - Why we expect the stock market to continue to hit new all-time highs.

08:02 - How Stig is protecting himself against potential inflation going forward.

39:49 - Why Stig re-reads Poor Charlie’s Almanack each year.

49:55 - The psychological biases we need to be mindful of.

01:02:14 - How the endowment effect can be detrimental to our portfolio’s returns.

01:11:45 - How we can apply Munger’s principle of inversion to our lives and our portfolios.

01:27:00 - How you can attend the live events TIP is hosting in Omaha during the Berkshire weekend.

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.
Book discussed: Poor Charlie's Almanack.
Check out Stig’s portfolio here.
Email Shawn at shawn@theinvestorspodcast.com to attend our free events in Omaha or visit this page.
Follow Clay on Twitter.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

BTC213: 4Q 2024 Bitcoin Mastermind w/ Joe Carlasare, Jeff Ross, American HODL (Bitcoin Podcast)

Wed, 18 Dec 2024 01:00:00 -0000

Jeff Ross, American Hodl, and Joe Carlasare discuss Bitcoin’s historic price surge to $96,000, the influence of Donald Trump's re-election on crypto policy, and global proposals for Bitcoin reserves. Topics include regulatory challenges, institutional inflows, and game-changing corporate strategies.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

06:58 - Why experts believe $96,000 may not be the top for Bitcoin.

14:10 - The potential impact of Trump’s re-election on U.S. Bitcoin policy.

11:06 - How countries like Brazil and the U.S. are exploring Bitcoin as a strategic reserve asset.

17:38 - The global regulatory landscape: Russia’s legalization and China’s possible policy shifts.

30:57 - Nic Carter’s insights into Chokepoint 2.0 and its implications for crypto innovation.

31:19 - The FDIC’s controversial handling of crypto-friendly banking products.

31:37 - How "pause letters" have stifled crypto innovation in traditional finance.

41:31 - The surge in institutional adoption, including ETF investments and corporate treasury moves.

48:07 - Microstrategy's influence on corporate debt and treasury strategies.

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

BOOKS AND RESOURCES

Related Episode: Bitcoin Mastermind 3rd Quarter 2024.
Related Episode: Base Fiat Money and Bitcoin w/ Matthew Mežinskis.
Related Episode: Jack Mallers on Bitcoin 2025 Expectations.
American Hodl on Nostr.
Jeff Ross on Nostr.
Joe Carlasare on X (Twitter), Nostr.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

SPONSORS

Support our free podcast by supporting our sponsors:

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP683: The Evolution of a Legend: Lessons from Charlie Munger’s Life and Investments w/ Kyle Grieve

Sun, 15 Dec 2024 01:00:00 -0000

In today's episode, Kyle Grieve explores the life of Charlie Munger, drawing insights from his biography Damn Right!. He’ll cover Charlie’s similarities and differences with Benjamin Graham, the value of dedicating an hour a day to thinking, the role of decisiveness and conviction in transformative investments, and how independent thinking shaped his life. Plus, he’ll discuss lessons from his days practicing law, key takeaways from his investment partnership, and much more!

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:25 - How Charlie Munger’s approach to investing was more similar to Benjamin Graham than most think.

13:08 - How selling himself just one hour a day transformed Charlie’s thinking.

14:36 - Learn about Charlie’s multi-billion-dollar missed opportunity.

25:22 - Lessons from Munger’s legal career on working with people you like and how that shaped his investing strategy.

32:15 - Insights from Munger’s Investment Partnership: what worked, what didn’t, and why.

33:13 - What Munger and Benjamin Graham can teach you about the power of independent thinking.

42:22 - Why highly concentrated portfolios thrive in bull markets but face unique challenges in bear markets—and why they’re not for everyone.

53:21 - Why owning a high-quality business is not just profitable but also less stressful—and infinitely more enjoyable.

01:00:55 - Discover why Berkshire Hathaway never having a grand plan was a massive advantage.

01:03:20 - How Munger approached capital allocation and his contrarian views on the cost of capital.

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.
Buy Damn Right! Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger here.
Follow Kyle on Twitter and LinkedIn.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP682: Buffett's Early Investments by Brett Gardner w/ Clay Finck

Fri, 13 Dec 2024 01:00:00 -0000

In today’s episode, Clay reviews Brett Gardner’s new book, Buffett’s Early Investments.

Brett is an Analyst at Discerene Group LP, a private investment partnership that invests globally based on a fundamental and long-term value investing philosophy. Like us here at TIP, Brett is also a huge fan of Warren Buffett.

During Buffett’s early partnership years from 1957 to 1969, he compounded his investors’ capital at 23.8% net of fees relative to the Dow Jones, returning just 7.4%.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:14 - The primary factors that led to Buffett’s outperformance during early investing years.

06:09 - The parallels between Buffett’s investment in Philadelphia and Reading and how he ended up transforming Berkshire Hathaway in the years that followed.

27:15 - What led Buffett to make an unconventional bet on Disney in 1966.

43:55 - Why Buffett invested in American Express after the Salad Oil Scandal.

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.
Gardner’s book: Buffett's Early Investments.
Email Shawn at shawn@theinvestorspodcast.com to attend our free events in Omaha or visit this page.
Related Episode: Listen to TIP573: Berkshire's Beginnings w/ Jacob McDonough, or watch the video.
Follow Clay on Twitter.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

BTC212: Jack Mallers on Bitcoin 2025 Expectations and Strike's New Features (Bitcoin Podcast)

Wed, 11 Dec 2024 01:00:00 -0000

Jack Mallers joins to discuss Bitcoin’s evolving landscape, from the potential for strategic reserves to regulatory shifts and exciting advancements in Lightning and Strike’s new working capital feature.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

06:12 - The potential reality of a Bitcoin strategic reserve.

07:38 - Insights into the rumored $2 billion Bitcoin deposit by the U.S. government.

14:36 - What Operation Chokepoint 2.0 could mean for Bitcoin and crypto regulations.

17:55 - How regulatory changes might unfold under a new administration.

19:47 - Details about Strike's new feature enabling Bitcoin as a working capital account.

26:51 - Why integrating Bitcoin savings with fiat spending is becoming seamless.

27:26 - Possibilities of tax-free Bitcoin gains in the U.S.

32:53 - How Wall Street’s perception of Bitcoin is evolving.

35:38 - MicroStrategy's influence on corporate treasury strategies globally.

50:40 - Exciting Lightning Network advancements and their role in bridging crypto and traditional finance.

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

BOOKS AND RESOURCES

Seb’s book: The Hidden Cost of Money
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals 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:

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP681: Mastermind Q4, 2024 w/ Stig Brodersen, Tobias Carlisle, and Hari Ramachandra

Sun, 08 Dec 2024 01:00:00 -0000

In today's episode, Stig Brodersen speaks to Tobias Carlisle and Hari Ramachandra. Stig only owns five individual stocks, and in this episode, he outlines why Evolution is one of them. Hari’s pick, Occidental Petroleum, a stock Buffett has recently added to, and Tobias pitches Alpha Metallurgical Resources, a value stock that Mohnish Pabrai has loaded up on.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:34 - What to make of Berkshire’s $300B+ cash pile

33:16 - Stig’s bull case is for Evolution (Ticker on the Swedish Stock Exchange: EVO)

41:03 - The bear case for Evolution, including why their margins will likely decline

44:02 - Why Hari is bullish on Occidental Petroleum (Ticker on NYSE: OXY)

47:44 - The bear case of Occidental Petroleum, including macro headwinds

56:46 - Why Toby has invested in Alpha Metallurgical Resources (Ticker on NYSE: AMR)

1:06:28 - The bear case for Alpha Metallurgical Resources, including the role of China

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.
Listen to Mastermind Discussion Q3 2024 or watch the video.
Listen to Mastermind Discussion Q2 2024 or watch the video.
Tune in to the Mastermind Discussion Q1 2024 or watch the video.
Listen to Mastermind Discussion Q4 2023 or watch the video.
Tune in to the Mastermind Discussion Q3 2023 or watch the video.
Listen to Mastermind Discussion Q2 2023 or watch the video.
Tune in to Mastermind Discussion Q1 2023 or watch the video.
Stig Brodersen’s Portfolio and Track record.
Occidental Petroleum’s 2023 annual report.
Tobias Carlisle's podcast, The Acquirers Podcast
Tobias Carlisle's ETF, ZIG.
Tobias Carlisle's ETF, Deep.
Tobias Carlisle's book, The Acquirer's Multiple – read reviews of this book.
Tobias Carlisle's Acquirer's Multiple stock screener: AcquirersMultiple.com.
Tweet directly to Tobias Carlisle.
Hari's Blog: BitsBusiness.com.
Tweet directly to Hari.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

TIP680: Investing in Exceptional Businesses for the Long Run w/ Dev Kantesaria

Fri, 06 Dec 2024 01:00:00 -0000

On today’s episode, Clay is joined by Dev Kantesaria to discuss the current market environment, the types of investments he is looking for, FICO, S&P Global, and much more.

Dev is the founder and portfolio manager at Valley Forge Capital Management. The firm has been highly successful since its inception in 2007, as it’s outperformed the S&P 500 by a wide margin and has over $4 billion in assets under management.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:46 - Dev’s view on the current market environment and the recent stock market rally.

05:02 - How Valley Forge Capital Management adopted Warren Buffett and Charlie Munger’s investment approach.

09:16 - Why predictability is an essential part of Dev’s investment approach.

11:32 - Why Dev has decided not to invest in any Big Tech companies.

37:11 - Why pricing power is the hallmark of a great business.

53:30 - Why Dev will continue to invest in the US despite optically higher valuations.

56:59 - The reason Dev loves compounding machines that perform share repurchases.

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.
Check out Valley Forge Capital Management.
Related Episode: Listen to TIP389: Buffett's Core Principles w/ Dev Kantesaria, or watch the video.
Follow Clay on Twitter.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
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:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

BTC211: Bitcoin vs Art and Real Estate w/ Tad Smith (Bitcoin Podcast)

Wed, 04 Dec 2024 01:00:00 -0000

Exploring the art world with Tad Smith, former CEO of Sotheby’s, as we uncover the intersection of art, Bitcoin, and investment strategies.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:28 - The significance behind the $6.2M sale of a banana duct-taped to a wall.

08:07 - How stories shape the perception and value of art investments.

08:46 - What makes artwork valuable beyond its aesthetic appeal.

14:54 - Why scarce and desirable items tend to accrue lasting value.

23:20 - Whether and how investors market stories to amplify art's value post-purchase.

24:13 - The role of Bitcoin’s proof of work in distinguishing it from other protocols.

27:04 - How tokenization is transforming the art world.

33:56 - The historical role of leverage in outpacing inflation and the "money printer."

38:12 - Insights into Michael Saylor’s strategy with MicroStrategy.

47:50 - Key considerations for investing in art from a professional standpoint.

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

BOOKS AND RESOURCES

Tad’s X (Twitter) Account.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals 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:

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

RWH052: Wise Guys w/ Ray Dalio, Bill Miller, Chris Davis & Michael Berg

Sun, 01 Dec 2024 01:00:00 -0000

In today’s special episode, William Green looks back at some of the most powerful lessons from the first 50 episodes of the podcast. He highlights four of his favorite interviews: with multibillionaire Ray Dalio, Berkshire Hathaway board member Chris Davis, investing legend Bill Miller, & author Michael Berg. Here, Dalio discusses how to overcome our weaknesses; Miller reveals the insights that made him a vast fortune on Bitcoin; Davis shares what he’s learned from Buffett & Munger; & Berg explains how to increase your enjoyment of money.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

06:37 - Why Ray Dalio believes success hinges on deep self-knowledge.

09:11 - How he’s dealt with his own weaknesses.

10:44 - What Elon Musk, Bill Gates, Reed Hastings & Ray Dalio have in common.

13:46 - How Ray’s most painful mistake changed his views on investing & life.

29:07 - What Chris learned from his mentors, Warren Buffett & Charlie Munger.

30:13 - Why it helps Chris Davis to view his life in three distinct 10,000-day blocks.

44:47 - What Bill Miller saw in Bitcoin that led him to make a vast fortune.

49:32 - Why Bill sees Bitcoin as insurance against financial catastrophe.

1:04:06 - What biases, beliefs & blind spots led Buffett & Munger to dismiss Bitcoin.

1:06:35 - How to enhance your enjoyment of money.

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

BOOKS AND RESOURCES

William Green’s 2023 interview with Ray Dalio | YouTube Video.
William Green’s 2022 interview with Ray Dalio | YouTube video.
Check out Principles: Your Guided Journal by Ray Dalio.
Read Principles: Life and Work by Ray Dalio.
William Green’s interview with Chris Davis | YouTube Video.
William Green’s interview with Michael Berg | YouTube Video.
William Green’s interview with Pico Iyer | YouTube Video.
William Green’s interview with Tsoknyi Rinpoche & Daniel Goleman | YouTube Video.
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.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
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:

HELP US OUT!

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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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