Episodit

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

    IN THIS EPISODE, YOU’LL LEARN:
    00:00 - Intro
    01:36 - What dumb investment behavior Guy Spier strives to avoid
    05:12 - What type of companies he shuns
    07:05 - Why good relationships are a key to financial & personal success
    07:25 - Why we should be especially wary of leverage
    15:46 - Why it’s vital to find “friends along the path” who support us emotionally
    29:34 - Why it’s helpful to shine a light on our own weaknesses
    41:18 - How he handles painful, contentious conversations
    51:24 - How to engage with people whose beliefs & experiences differ from ours
    1:07:05 - What role money does—or doesn’t—play in a rich & meaningful life
    1:11:11 - What Guy learned from Warren Buffett’s exercise of writing your own obituary
    1:31:39 - How reading great literature can make you wiser & happier

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

    BOOKS AND RESOURCES

    Related Episode: William Green’s 2023 interview with Guy Spier | YouTube Video.

    Related Episode: William Green’s 2022 interview with Guy Spier | YouTube Video.

    Related Episode: William Green’s interview with Daniel Goleman & Tsoknyi Rinpoche | YouTube Video.

    Related Episode: William Green’s interview with Chris Davis | YouTube Video.

    The Dishcast podcast with David Brooks on “Transcending Hate & Loneliness”.


    Daniel Siegel’s book “The Developing Mind”.

    Harville Hendrix’s book “Doing Imago Relationship Therapy in the Space-Between”.


    Marcel Proust’s book “In Search of Lost Time”.


    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.

    Guy Spier interviews William Green about his book, “Richer, Wiser, Happier”. 

    William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.

    Follow William Green on X (AKA Twitter).

    Check out all the books mentioned and discussed in our podcast episodes here.


    NEW TO THE SHOW?

    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:

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    HELP US OUT!
    Help us reach new listeners by leaving us a rating and review on Apple Podcasts! 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!
    Learn more about your ad choices. Visit megaphone.fm/adchoices

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

    IN THIS EPISODE, YOU’LL LEARN:
    00:00 - Intro
    04:07 - Why it’s so intense for Guy Spier & William Green to collaborate
    10:19 - How telling the truth changed Guy’s life
    17:53 - Why the Global Financial Crisis terrified him
    24:52 - Why it’s hard to invest rationally in the real world of chaos & confusion
    29:25 - How Guy deals with his emotions when making investment decisions
    35:03 - Why his default position is to hold his stocks indefinitely & resist meddling
    38:48 - Why he didn’t sell his stake in Alibaba
    42:01 - Why he’s pleased with & disappointed by his investment returns
    46:32 - Why his mission is long-term compounding without catastrophe
    55:06 - What Guy learned from investing in a company that went bankrupt
    57:57 - What the fastest skiers can teach us about success & survival
    1:00:02 - How excessive risk destroyed a fund manager he once knew
    1:04:13 - What we can learn from Warren Buffett about financial resilience

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

    BOOKS AND RESOURCES

    Related Episode: William Green’s 2023 interview with Guy Spier | YouTube Video.

    Related Episode: William Green’s 2022 interview with Guy Spier | YouTube Video.

    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.

    Guy Spier interviews William Green about his book, “Richer, Wiser, Happier”.

    Read Gandhi: An Autobiography – The Story of My Experiments with Truth.

    Luca Dellanna's book, "Ergodicity".

    David Hawkins' book, “Power vs Force”.

    William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.

    Follow William Green on X (AKA Twitter).

    Check out all the books mentioned and discussed in our podcast episodes here.


    NEW TO THE SHOW?

    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:

    River

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    HELP US OUT!
    Help us reach new listeners by leaving us a rating and review on Apple Podcasts! 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!
    Learn more about your ad choices. Visit megaphone.fm/adchoices

  • Puuttuva jakso?

    Paina tästä ja päivitä feedi.

  • On today’s episode, Clay is joined by Richard Duncan to discuss current market conditions, whether we’ll see a recession in 2024, the potential for interest rate cuts, and more.
    Richard Duncan is the author of The Money Revolution: How To Finance The Next American Century.

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

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

    IN THIS EPISODE YOU’LL LEARN:
    00:00 - Intro
    01:47 - How our modern-day economy is structured with the US dropping the gold standard in 1971.
    10:29 - Why our economy requires perpetual credit expansion.
    17:46 - How the credit environment has developed since 2020.
    26:11 - What a recession is and what the implications of a recession are.
    29:47 - Why Richard foresees a recession in 2024.
    31:55 - The primary drivers of credit growth.
    43:26 - Why we’ll likely see interest rate cuts in 2024.
    53:03 - The drawbacks of our modern-day economy.
    60:00 - Indicators that investors need to monitor in today’s economy.
    64:03 - Where the US is at in the AI race.

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

    BOOKS AND RESOURCES

    Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.

    Richard Duncan Website.

    Macro Watch Website.

    The Money Revolution Book.

    Related Episode: TIP488: Current Market Conditions w/ Richard Duncan | YouTube Video.

    Related Episode: TIP424: How to Finance the Next American Century w/ Richard Duncan | YouTube Video.

    Follow Richard on Twitter.

    Follow Clay on Twitter.

    Learn more about the Berkshire Summit by clicking here or emailing Clay at [email protected].


    Check out all the books mentioned and discussed in our podcast episodes here.


    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:

    River

    Toyota

    Wise

    NetSuite

    Fidelity

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    Shopify


    HELP US OUT!
    Help us reach new listeners by leaving us a rating and review on Apple Podcasts! 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!
    Learn more about your ad choices. Visit megaphone.fm/adchoices

  • In this episode, Bitcoin OG Pierre Rochard unpacks the Energy Information Survey's halt, its implications, and the mining community's legal victory. We delve into Pierre's thoughts on Senator Warren's initiative, the collective response, and future steps. The discussion also covers Texas' support, the impact of the upcoming halving event, and Pierre's insights on the Bitcoin 'speculative attack'.

    IN THIS EPISODE YOU’LL LEARN:
    00:00 - Intro
    01:15 - The background and implications of the DOE's halted energy survey on Bitcoin mining.
    04:04 - Pierre Rochard's perspective on Senator Elizabeth Warren's initiative to track power consumption by miners.
    15:14 - The collective response of the Bitcoin mining community to regulatory challenges.
    15:14 - Details of the legal victory that temporarily stopped the DOE's data collection efforts.
    15:14 - How this legal battle might set a precedent for future regulatory attempts on Bitcoin mining.
    33:09 - The role of Texas in supporting the cryptocurrency industry against regulatory pressures.
    39:43 - Pierre's concept of the "speculative attack" and its relevance to Bitcoin's future.
    56:50 - Insights into the upcoming Bitcoin halving event and its potential impact on the mining community.

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

    BOOKS AND RESOURCES

    Pierre Rochard's Twitter.

    Riot Platforms' Twitter.

    Related Episode: Listen to BTC124: Bitcoin is a Strategic National Necessity w/ Pierre Rochard, or watch the video.

    Related Episode: Listen to BTC116: Bitcoin Ordinals and NFTs on Layer 1 Bitcoin w/ Pierre Rochard, or watch the video.

    Check out all the books mentioned and discussed in our podcast episodes here.


    NEW TO THE SHOW?

    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:

    River

    Toyota

    Wise

    NetSuite

    Fidelity

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    Shopify


    Learn more about your ad choices. Visit megaphone.fm/adchoices

  • Kyle Grieve and co-host Clay Finck dive deep into how human psychology impacts your investment decisions, why even the best investors fall victim to their own biases, strategies to mitigate common mistakes, how to deal with market timing, leverage, and speculation, why you should focus your time on improving patience, simplifying things, and understanding value, how you can recognize the biases of the market by understanding market cycles, why you should prioritize temperament over intellect, the importance of long-term results over quick gains, and a whole lot more!

    IN THIS EPISODE YOU’LL LEARN:
    00:00 - Intro
    02:39 - Why greed makes us feel smart.
    03:03 - How fear causes us to make poor decisions.
    05:25 - The case study of Stanley Druckenmiller and how greed can affect even the smartest among us.
    10:14 - How we can succeed in investing without having to predict macroeconomic trends.
    11:38 - How we can track our emotions to make better decisions.
    14:48 - The follies of trying to time the market.
    14:48 - The downside of timing the market.
    15:27 - Why we shouldn’t rely on luck to consistently generate returns.
    17:21 - Why Warren Buffett would make any changes to his investing even if he knew what the FED was going to do in the next twelve months.
    23:09 - Why leverage should be avoided in the stock market.
    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: TIP604: Best Quality Idea Q1 2024 w/ Clay Finck & Kyle Grieve | YouTube Video.

    Related Episode: TIP587: Dino Polska: A Polish Compounder w/ Clay Finck & Kyle Grieve | YouTube Video.

    Learn more about the Berkshire Summit by clicking here or emailing Clay at [email protected].


    Follow Kyle on Twitter and LinkedIn.

    Check out all the books mentioned and discussed in our podcast episodes here.


    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:

    River

    Toyota

    Wise

    NetSuite

    Fidelity

    TurboTax

    NDTCO

    Linkedin Marketing Solutions

    Fundrise

    Vacasa

    NerdWallet

    Babbel

    Shopify


    HELP US OUT!
    Help us reach new listeners by leaving us a rating and review on Apple Podcasts! 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!
    Learn more about your ad choices. Visit megaphone.fm/adchoices

  • On today’s episode, Clay Finck and Kyle Grieve share why they are so passionate about investing in stocks and why they utilize the stock market to help them achieve financial independence.

    IN THIS EPISODE YOU’LL LEARN:
    00:00 - Intro
    02:41 - How real-life examples of compounding have influenced Clay & Kyle
    11:33 - How the stock market has compounded in the US since the 1950s.
    20:50 - Why Clay and Kyle set the financial goal of becoming financially independent.
    28:42 - Why Kyle chose to utilize the stock market as his tool to achieving financial independence.
    36:44 - How an investor knows when they are ready to start investing in individual companies.
    41:24 - How to quickly disqualify an investment.
    43:44 - The best metric to filter on business quality.
    72:27 - The edge that individual investors can have in picking stocks.
    81:03 - Our favorite investing books.

    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: The Millionaire Next Door, 100 Baggers, The Psychology of Money, The Simple Path to Wealth, The Joys of Compounding, What I Learned About Investing From Darwin, Richer, Wiser, Happier, Invested, The Most Important Thing, The Warren Buffett Portfolio


    Check out Finchat.

    Episode Mentioned: TIP602: Same as Ever w/ Morgan Housel | YouTube Video.

    Related Episode: TIP604: Best Quality Idea Q1 2024 w/ Clay Finck & Kyle Grieve | YouTube Video.

    Learn more about the Berkshire Summit by clicking here or emailing Clay at [email protected].


    Follow Kyle on Twitter and LinkedIn.

    Follow Clay on Twitter and LinkedIn.

    Check out all the books mentioned and discussed in our podcast episodes here.


    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:

    River

    Toyota

    Wise

    NetSuite

    Fidelity

    TurboTax

    NDTCO

    Linkedin Marketing Solutions

    Fundrise

    Vacasa

    NerdWallet

    Babbel

    Shopify


    HELP US OUT!
    Help us reach new listeners by leaving us a rating and review on Apple Podcasts! 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!
    Learn more about your ad choices. Visit megaphone.fm/adchoices

  • In this episode, Luke Gromen navigates through Berkshire's $167.6B cash, his 2023 market optimism, US liquidity measures, and escalating real estate loan concerns. He discusses inflation's return, unemployment trends, interest rates, and Bitcoin's impact on energy. The dialogue also touches on the Fed's control illusion, CEO stock sales, Bitcoin's fiscal role, auction failures, QE's return, and treasury yield trends, providing a rich macroeconomic overview amidst evolving market dynamics.

    IN THIS EPISODE YOU’LL LEARN:
    00:00 - Intro
    01:05 - How Berkshire Hathaway's substantial cash reserve positions it in the current economic landscape.
    08:13 - The pivotal factors that flipped Luke Gromen from a bearish to a bullish market stance in early 2023.
    12:20 - The implications of re-accelerating supercore inflation on the economy and monetary policy.
    12:20 - How interest rates are expected to evolve through the rest of the year and their effect on investments.
    46:08 - The specific liquidity levers the US is currently pulling to navigate through economic challenges.
    46:08 - Predictions on unemployment trends and their impact on the broader economic recovery.
    57:25 - Insights into the escalating crisis in commercial real estate loans surpassing loss reserves at major banks.
    01:09:57 - The transformative potential of Bitcoin in changing the energy landscape and its broader economic implications.

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

    BOOKS AND RESOURCES

    Luke’s FFTT research.

    Luke’s Twitter account.

    Luke’s two books.

    Related Episode: Listen to BTC136: The FED Pause & Q2 Current Events w/ Luke Gromen, or watch the video.

    Related Episode: Listen to BTC101: 4th Quarter Macro Overview w/ Luke Gromen, or watch the video.

    Check out all the books mentioned and discussed in our podcast episodes here.


    NEW TO THE SHOW?

    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:

    River

    Toyota

    Wise

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    Learn more about your ad choices. Visit megaphone.fm/adchoices

  • Kyle talks to Lauren Templeton about the many investing and life lessons she learned from investing legend Sir John Templeton, how she sets up her daily life to stay disciplined and avoid biases, how to utilize the scientific method for investing purposes, how we can use lessons from history to improve our decision making today, the importance of utilizing multiple evaluation tools to find great investments, sectors that are facing maximal pessimism today that might be the winners of tomorrow, and much, much more!

    IN THIS EPISODE YOU’LL LEARN:
    00:00 - Intro
    05:56 - Why we should combat “home bias”.
    05:56 - Why high savings rates are so important for new opportunities.
    05:56 - How savings rates have changed with the times.
    05:56 - The hurdles you need to overcome for investing in Japan.
    12:06 - The importance of looking at unpopular sectors.
    12:24 - What Sir John Templeton thought about quality.
    12:24 - Why maximum optimism is a risky place to deploy capital.
    12:24 - How Sir John Templeton offset value traps using his strategy.
    12:24 - Why you should use multiple evaluation tools in your analysis.
    17:38 - How Lauren created her life to stay disciplined.
    17:38 - The strengths of lowering how reactive you are.
    17:38 - The importance of living a disciplined lifestyle to improve yourself.
    21:18 - How to utilize the scientific method in investing.
    27:01 - How Lauren has decreased the effects of FOMO.
    27:01 - The importance of removing yourself from the crowd.
    29:54 - How Lauren has used inversion to help her investing strategy.
    34:22 - Why you should look at sectors with bad outlooks.
    34:22 - How Lauren fights confirmation bias.
    43:10 - How Lauren’s investing strategy has altered given the current macro backdrop.
    47:07 - The importance of alignment between your daily life and investing philosophy.
    47:07 - How Sir John Templeton tinkered with his portfolio while staying true to his core philosophy.
    49:11 - Why you should understand maximum pessimism and how it creates opportunities.
    49:11 - The historical returns in small caps after having the valuation gap we are seeing today.
    49:11 - Why Lauren thinks China is showing maximum pessimism based on her observations at ValueX.
    49:11 - Why Lauren sees an opportunity in small caps right now.
    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 Lauren’s book, The Templeton Way here.

    Listen to Lauren’s podcast, Investing The Templeton Way here.

    Subscribe to her newsletter, the Maximum Pessimism Report here.

    Learn more about the Berkshire Summit by clicking here or emailing Clay at [email protected].


    Follow Kyle on Twitter and LinkedIn.

    Check out all the books mentioned and discussed in our podcast episodes here.


    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:

    River

    Fidelity

    NetSuite

    Toyota

    TurboTax

    Wise

    NerdWallet

    Linkedin Marketing Solutions

    Babbel

    Shopify

    Fundrise

    Vacasa


    HELP US OUT!
    Help us reach new listeners by leaving us a rating and review on Apple Podcasts! 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!
    Learn more about your ad choices. Visit megaphone.fm/adchoices

  • On today’s episode, Clay chats with Kyle Bass, the founder and principal of Hayman Capital Management. Hayman’s first major success came from effectively shorting the housing market in 2008, and Kyle was profiled in Michael Lewis’ book The Big Short. 
    After seeing Chinese stocks drop 20% over the past year, I invited Kyle back onto the show because he has been sounding the alarm bells for years on a market correction in Chinese markets. 

    IN THIS EPISODE YOU’LL LEARN:
    00:00 - Intro
    02:01 - Why China is potentially preparing to invade Taiwan.
    06:59 - How China has been restricting data and information flow to foreigners.
    09:16 - Major military, mainland, and legal actions the CCP has taken in the past few years.
    19:55 - Why foreign direct investment to China has collapsed in recent years.
    25:53 - Potential sanctions the US may implement if China invades Taiwan.
    33:38 - What Kyle is seeing in the Chinese real estate market.
    39:33 - Whether he sees the crisis in Chinese affecting other markets globally.
    47:10 - Why he believes the Fed is out of touch with reality.
    54:48 - How Kyle is positioned as an investor today.

    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.

    Hayman Capital Management’s website.

    Conservation Equity Management’s website.

    Related Episode: TIP396: China and the Macro Impact w/ Kyle Bass | YouTube Video.

    Follow Kyle on Twitter.

    Follow Clay on Twitter.

    Learn more about the Berkshire Summit by clicking here or emailing Clay at [email protected].


    Check out all the books mentioned and discussed in our podcast episodes here.


    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:

    River

    Toyota

    Wise

    NetSuite

    Fidelity

    TurboTax

    NDTCO

    Linkedin Marketing Solutions

    Fundrise

    Vacasa

    NerdWallet

    Babbel

    Shopify


    HELP US OUT!
    Help us reach new listeners by leaving us a rating and review on Apple Podcasts! 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!
    Learn more about your ad choices. Visit megaphone.fm/adchoices

  • Join us with Alex Leishman, River's CEO, for a dive into Bitcoin's ecosystem, discussing Argentina, Bitwise custody, Lightning Network's prospects, Ordinals, equity tokenization, BitVM, ETFs, custody improvements, AI, and institutional custody. We also touch on OTC markets' dynamics. A compact overview of the current and future Bitcoin landscape.

    IN THIS EPISODE YOU’LL LEARN:
    00:00 - Intro
    01:09 - The evolving role of Bitcoin in Argentina's economy and how it's shaping local finance.
    10:05 - The current state and future prospects of the Lightning Network in enhancing Bitcoin's scalability.
    20:04 - An introduction to BitVM and roll-ups, and their potential to revolutionize transaction efficiency.
    24:05 - The significance of Ordinals for decentralized identity and how they're changing the landscape.
    27:50 - The process and benefits of tokenizing real equity to bridge traditional finance with blockchain technology.
    34:02 - The challenges and opportunities presented by Bitcoin ETFs and potential regulatory impacts.
    34:34 - The importance of improving custody solutions for Bitcoin to ensure greater security and accessibility.
    42:15 - Insights into Bitwise custody solutions and their impact on security and asset management.

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

    BOOKS AND RESOURCES

    Buy Bitcoin at River.

    Alex Leishman's Twitter.

    River's Blog and Research.

    Check out all the books mentioned and discussed in our podcast episodes here.


    NEW TO THE SHOW?

    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:

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    Learn more about your ad choices. Visit megaphone.fm/adchoices

  • 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 he is still bullish on Spotify. Hari’s pick, Disney, has recently been extremely volatile, and Tobias pitches Mueller Industries, a value stock trading at an appealing valuation.

    IN THIS EPISODE YOU’LL LEARN:
    00:00 - Intro
    06:25 - Why Hari is bullish on Disney (Ticker: DIS)
    12:09 - The bear case of Disney, including increasing competition, valuation, and debt levels
    35:33 - Why Stig has invested in Spotify (Ticker: SPOT) as one of the five stocks he owns
    48:44 - The bear case for Spotify, including the dependency on Alphabet
    58:18 - Why Toby has invested in Mueller Industries (Ticker: MLI)
    1:06:46 - The bear case for Mueller Industries, including the end of the building phase and competitive Chinese pressures

    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 the Mastermind Discussion Q4 2023 – TIP586 | Youtube video.

    Tune in to the Mastermind Discussion Q3 2023 – TIP576 | Youtube video.

    Listen to the Mastermind Discussion Q2 2023 – TIP557 | Youtube video.

    Tune in to the Mastermind Discussion Q1 2023 – TIP528 | Youtube video.

    Listen to the Mastermind Discussion Q1 2022 – TIP418 | Youtube video.


    Tune in to the Mastermind Discussion Q2 2022 – TIP450 | Youtube video.  


    Listen to the Mastermind Discussion Q3 2022 – TIP475 | Youtube video.

    Tune in to the Mastermind Discussion Q4 2022 – TIP496 | Youtube video.

    Tobias Carlisle's podcast, The Acquirer's 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 Ramachandra.

    Check out all the books mentioned and discussed in our podcast episodes here.


    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:

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    HELP US OUT!
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  • On today’s episode, Clay reviews Nassim Taleb’s book – Fooled by Randomness.
    Nassim Taleb is a Lebanon-born American mathematician and statistician whose work concerns problems of randomness, probability, and uncertainty. He’s very well known for his popular books, including The Black Swan, Antifragile, Skin in the Game, and Fooled by Randomness.

    IN THIS EPISODE YOU’LL LEARN:
    00:00 - Intro.
    01:37 - The role of luck in investing.
    04:51 - Biases that get investors into trouble, such as the survivorship bias and the endowment effect.
    10:09 - Why we should develop a sense of skepticism and humility.
    15:52 - Why it’s so important to understand alternative histories.
    30:47 - Why humans are more prone to make investment decisions based on emotions rather than facts and probabilities.
    37:31 - What the firehouse effect is.
    39:33 - The story of a trader who got married to his positions which ended up being a value trap.
    48:08 - What chaos theory is.
    58:54 - How Taleb’s investment strategy capitalizes on asymmetric opportunities.
    62:06 - Distinguishing a good process from a good outcome.

    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.

    Nassim Taleb’s books: Fooled by Randomness, Antifragile, The Black Swan, & Skin in the Game.

    Episode Mentioned: TIP558: How Ackman & Taleb Profited Billions During Market Crashes w/ Scott Patterson | YouTube Video.

    Episode Mentioned: TIP597: Darwin's Investing Lessons w/ Kyle Grieve | YouTube Video.

    Episode Mentioned: TIP579: Big Mistakes by Michael Batnick | YouTube Video. 

    Follow Clay on Twitter.

    Learn more about the Berkshire Summit by clicking here or emailing Clay at [email protected].


    Check out all the books mentioned and discussed in our podcast episodes here.


    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:

    River

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    HELP US OUT!
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  • Bob Burnett shifts from tech executive to Bitcoin mining leader, focusing on innovative, sustainable solutions. He explores Bitcoin's challenges, the significance of ASICs beyond finance, and strategies for navigating regulatory environments. Burnett's insights into future trends and advice for tech entrepreneurs underscore the importance of adaptive strategies and sustainability in the evolving Bitcoin landscape.

    IN THIS EPISODE YOU’LL LEARN:

    00:00 - Intro
    02:11 - Bob Burnett's journey from tech executive to leading Bitcoin mining initiatives.
    18:13 - The importance of sustainable practices in the Bitcoin mining industry.
    27:44 - Strategies for navigating the complex regulatory environment of Bitcoin.
    35:06 - How blockchain technology extends beyond finance into other sectors.
    37:01 - The significance of adaptability for entrepreneurs in the tech and finance industries.
    62:15 - Insights into the future trends and potential of Bitcoin.
    69:08 - Lessons in leadership and innovation drawn from Burnett's extensive experience.
    Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

    BOOKS AND RESOURCES

    Check out: Bob’s Twitter.

    Visit: Barefoot mining website.

    Check out all the books mentioned and discussed in our podcast episodes here.


    NEW TO THE SHOW?

    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:

    River

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    Learn more about your ad choices. Visit megaphone.fm/adchoices

  • In this episode, William Green chats with famed investor Bruce Berkowitz, whose Fairholme Fund has beaten the S&P 500 by 529 percentage points over 23 years. Bruce, who was named Morningstar’s Domestic Stock-Fund Manager of the Decade in 2009, talks here about the ups & downs of his volatile career, how he changed his investment strategy after three costly losses, why he likes cash as a kind of “financial valium,” & why 80% of his fund is riding on one stock.

    IN THIS EPISODE, YOU’LL LEARN:
    00:00 - Intro
    04:44 - What Bruce Berkowitz learned about odds by working as a bookmaker.
    06:26 - What his stint as a broker taught him about how not to invest.
    34:18 - Why he makes huge bets on a tiny number of stocks.
    41:53 - How he’s riding a multi-decade wave of migration to Florida.
    48:57 - How he justifies betting 80% of his fund on one stock.
    54:59 - How he’s playing long-term trends in the energy sector.
    56:56 - Why he’s changed the way he invests.
    59:08 - Why he’s acutely wary of bank stocks.
    59:20 - What he learned from losing big on Sears, Fannie Mae, & Freddie Mac.
    1:17:53 - Why he views cash as a valuable form of “financial valium.” 
    1:28:51 - How he assesses the investment threat of global warming.
    1:33:50 - Why he operates as a lone wolf, not part of a team.
    1:39:53 - What he’s tried to teach his three children.
    1:45:31 - How he handles setbacks.

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

    BOOKS AND RESOURCES

    Bruce Berkowitz’s investment firm, Fairholme Funds.

    Vaclav Smil’s book How the World Really Works.

    Vaclav Smil’s book Energy & Civilization.

    William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.

    Follow William Green on X (AKA Twitter).

    Check out all the books mentioned and discussed in our podcast episodes here.


    NEW TO THE SHOW?

    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:

    River

    Toyota

    Linkedin Marketing Solutions

    Fidelity

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    Shopify

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    HELP US OUT!
    Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!
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  • On today’s episode, Clay chats with Chris Mayer about long-term compounding and a few of his holdings, including Constellation Software. Chris is well-known for his book, 100 Baggers, and has inspired thousands of readers to become better investors. If you’re interested in investing in multi-baggers, then this episode is a must-listen.

    Chris is the author of 100 Baggers and the co-founder and portfolio manager of Woodlock House Family Capital. 

    IN THIS EPISODE YOU’LL LEARN:
    00:00 - Intro
    03:27 - A review of how Chris’s fund performed in 2023.
    06:37 - Where Chris focuses much of his attention in managing a fund.
    12:39 - How Chris discovered Constellation Software.
    18:02 - How the competitive landscape for Constellation Software has developed over the years.
    24:58 - The potential drawbacks of Constellation Software’s decentralized business model.
    28:09 - Chris’s thoughts on Constellation Software’s ~60% increase in their share price over the past year.
    28:53 - How Constellation 2.0 has developed in recent years.
    33:04 - Why Constellation Software has started performing spinoffs.
    39:42 - Whether Constellation will continue to do more spinoffs in the future or not.
    37:05 - Why Chris decided to invest in the Constellation Software spinoffs in his fund (Topicus & Lumine).
    39:32 - Why Topicus is targeting higher organic growth in their subsidiaries.
    55:12 - Chris’s thoughts on the valuation of Constellation Software, Topicus, and Lumine.
    61:56 - How Chris would consider allocating fresh capital today in his fund.

    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.

    Chris Mayer’s books: 100 Baggers & How Do You Know?


    Resources mentioned: InPractise, Acquirers.com, & REQ Capital.


    Chris’s fund & blog: Woodlock House Family Capital.

    Thomas Phelps’ book: 100 to 1 in the Stock Market.

    Episode mentioned: TIP531: Mark Leonard: The Best Capital Allocator You've Never Heard Of | YouTube Video.

    Related Episode: TIP543: 100 Baggers w/ Chris Mayer | YouTube Video.

    Related Episode: TIP569: An Investor's Guide to Clear Thinking w/ Chris Mayer | YouTube Video.

    Related Episode: MI310: A Serial Acquirers Deep Dive w/ Chris Mayer | YouTube Video.

    Follow Chris on Twitter.

    Follow Clay on Twitter.

    Learn more about the Berkshire Summit by clicking here or emailing Clay at [email protected].


    Check out all the books mentioned and discussed in our podcast episodes here.


    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:

    River

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    HELP US OUT!
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  • Alex Gladstein discusses Bitcoin's impact on Africa, leveraging natural resources for mining to provide electricity and financial stability. Highlighting cases in Malawi and Kenya, he shows how Bitcoin offers a stable currency and supports renewable energy, transforming economic landscapes and promoting sustainable development. This narrative illustrates Bitcoin's potential as a catalyst for empowerment and progress across the continent.

    IN THIS EPISODE YOU’LL LEARN:
    00:00 - Intro
    00:57 - The potential of Bitcoin to drive sustainable development in Africa.
    00:57 - How Africa's natural resources can be utilized for Bitcoin mining.
    11:07 - The role of Bitcoin mining in providing access to electricity and reducing energy costs.
    16:25 - Examples of successful Bitcoin mining projects in Malawi and Kenya and their socio-economic benefits.
    25:09 - Strategies for leveraging stranded energy resources for economic empowerment and environmental conservation.
    26:17 - Ways in which Bitcoin acts as a stable, decentralized currency for regions facing inflation.
    44:37 - The impact of micro-hydroelectric and geothermal energy projects on local communities.
    45:57 - The importance of local entrepreneurship and community initiatives in the adoption of Bitcoin mining.

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

    BOOKS AND RESOURCES

    Alex’s article in Bitcoin Magazine: Stranded.

    Alex’s Twitter.

    The Human Rights Foundation.

    Check out all the books mentioned and discussed in our podcast episodes here.


    NEW TO THE SHOW?

    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:

    River

    Toyota

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    Learn more about your ad choices. Visit megaphone.fm/adchoices

  • Kyle talks to Paul Andreola about how he evaluates smallcap stocks, why flipping over as many rocks as possible is such a strong strategy, why to put all your focus on profitable growing businesses, why the PEG ratio is so important for finding great opportunities, the importance of understanding the capital raising process, why value will always succeed in the long term, the current state of microcaps and much, much more!

    Paul Andreola is a highly successful microcap investor who has been managing his own money for over 30 years. He is a board member for Atlas Engineered Products, Total Telcom, and Departure Bay Bay Capital. He’s a big proponent of microcap investing and runs an investing community called SmallCap Discoveries where he interviews CEOs of microcap businesses and shares his ideas and strategies.

    IN THIS EPISODE YOU’LL LEARN:
    00:00 - Intro
    03:28 - The importance of flipping over as many rocks as possible.
    05:00 - The power of owning businesses that institutions can’t invest in.
    05:08 - Why focus your efforts on profitable businesses that are growing.
    05:22 - How to use the price-to-earnings-growth ratio to help you identify undervalued growth stocks.
    06:22 - How to add a margin of safety using the PEG ratio.
    06:22 - How to use the PEG ratio to help you determine what needs to be sold.
    08:43 - How increasing fund flows can attract low-quality businesses in search of capital.
    09:46 - Why owning profitable companies can de-risk your investing.
    09:46 - Why you should stay away from low-growth businesses even when they are cheap.
    13:23 - Why you should stay away from businesses that are likely to heavily dilute shareholders.
    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 Paul’s services at Smallcap Discoveries.

    Read Paul’s articles here.

    Learn more about the Berkshire Summit by clicking here or emailing Clay at [email protected].


    Follow Kyle on Twitter and LinkedIn.

    Check out all the books mentioned and discussed in our podcast episodes here.


    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:

    River

    Toyota

    Wise

    NetSuite

    Fidelity

    TurboTax

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    HELP US OUT!
    Help us reach new listeners by leaving us a rating and review on Apple Podcasts! 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!
    Learn more about your ad choices. Visit megaphone.fm/adchoices

  • On today’s episode, Clay is joined by Ian Cassel to discuss multi-bagger first principles, what he’s learned from investor Tony Deden, and biases he has had to overcome to continue improving as an investor.

    Ian is a full-time microcap investor and CIO of Intelligent Fanatics Capital Management. He is the founder of MicroCapClub.com and co-founder of the IntelligentFanatics.com. 

    IN THIS EPISODE YOU’LL LEARN:

    00:00 - Intro.
    01:36 - Ian’s investment journaling and reflection process.
    06:19 - What Ian has learned from managing a fund for over 5 years.
    08:56 - A 2023 overview for Ian’s fund.
    23:58 - What Ian learned from Anthony Deden.
    27:43 - The multi-bagger first principles.
    35:53 - A few case studies on multi-baggers.
    53:26 - Why high insider ownership doesn’t correlate with stocks that outperform.
    54:02 - How attribution bias influences investor behavior.
    58:08 - Ian’s experience on the saying, “Risk is what you don’t see.”
    61:03 - How Ian decides whether he should average down in a position or not.

    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 more about the Berkshire Summit by clicking here or emailing Clay at [email protected].


    Ian’s presentation on Multi-bagger First Principles.

    Ian’s community, MicrocapClub.

    Ian’s book, Intelligent Fanatics.

    Ryan Pape’s interview at the MicroCap Leadership Summit.

    Related Episode: TIP563: Lightning in a Bottle & Microcap Investing w/ Ian Cassel | YouTube Video.

    Follow Ian on Twitter.

    Follow Clay on Twitter.

    Check out all the books mentioned and discussed in our podcast episodes here.


    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:

    River

    Toyota

    Wise

    NetSuite

    Fidelity

    TurboTax

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    Fundrise

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    HELP US OUT!
    Help us reach new listeners by leaving us a rating and review on Apple Podcasts! 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!
    Learn more about your ad choices. Visit megaphone.fm/adchoices

  • Dive into Bitcoin's future with Romain Rouphael: Unpacking his journey from finance to pioneering in Bitcoin research, LN Markets, and DLC Markets. Discover how leveraging Bitcoin for payments and building on its secure infrastructure is changing trading with instant settlements, trustless derivatives, and over $2 billion traded. Learn about the innovation behind LN Markets' fast retail trading and DLC Markets' approach to revolutionizing trustless OTC derivatives.

    IN THIS EPISODE YOU’LL LEARN:
    00:00 - Intro
    03:35 - The reasons behind Romain Rouphael's full-time commitment to Bitcoin and its potential for revolutionizing finance.
    07:43 - Insights into the foundational stages of Bitcoin research and the establishment of a Bitcoin lab.
    07:43 - The advantages of Bitcoin over other cryptocurrencies as both an asset and a financial infrastructure.
    26:21 - Future developments in Bitcoin financial services, including enhancements to LN Markets and DLC Markets, and the introduction of new products like hashrate/blockspace trading.
    33:20 - Introduction to LN Markets, a platform enabling instant settlement trading built on the Lightning Network.
    33:20 - The significance of Discreet Log Contracts (DLCs) in enabling trustless OTC derivatives trading on Bitcoin.
    40:13 - The innovative approach of DLC Markets to facilitate complex smart contracts for large-scale, trustless trading.
    50:21 - Challenges and complexities faced in managing a Bitcoin fund and interacting with centralized exchanges.

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

    BOOKS AND RESOURCES

    Article: LN Markets Upgrades Bitcoin Trading w/ DLCs.

    Romain Rouphael's Twitter.

    LN Market's Website.

    DLC Market's Website.

    The LN Market’s White Paper on DLCs.

    Check out all the books mentioned and discussed in our podcast episodes here.


    NEW TO THE SHOW?

    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:

    River

    Toyota

    Wise

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    Learn more about your ad choices. Visit megaphone.fm/adchoices

  • On today’s episode, Kyle talks to Dede Eyesan about investing outside of your home country and what you need to research to improve your circle of competence, why China, India, and Japan have some interesting businesses and which sectors might produce the next outperformers, the strength of monopoly type businesses when searching for outperformers, the characteristics of outperformers that are least difficult to try to identify, interesting insights into iGaming and IT consulting industries, and much, much more!

    Dede Eyesan is the Chief Investment Officer of Jenga Investment Partners (IP). Jenga IP is a fund specializing in allocating capital to public and private companies on a global scale. They own businesses in countries such as Finland, Poland, China, Mexico, the U.S., Australia, Sweden, Kazakhstan, and France. He authored Global Outperformers: A decade study of the top performing global listed companies (1,000% in 10 years)


    IN THIS EPISODE YOU’LL LEARN:
    00:00 - Intro.
    02:54 - The primary reasons for China’s lower shareholder returns.
    06:12 - Potential value chains in India that Dede finds interesting.
    10:20 - Insights into Indian markets, governance issues, and regulation.
    14:03 - Why consumer electronics is interesting in India, but not a good business model in most other geographies.
    18:04 - The importance of good economics and competitive advantage in finding outperformers.
    19:51 - Why monopolies like Airports of Thailand and Texas Pacific Land Corporation made good investments.
    26:14 - Insights into two South African companies that are still high quality in Karooooo and Naspers.
    34:44 - Why iGaming has low barriers to entry but high barriers to success.
    34:55 - Why uncertainty can punish a business’s valuation.
    44:37 - Dede’s outlook on his latest acquisition, GoFore, and why he likes IT consulting.
    56:59 - GoFore's competitive advantage and growth forecast.

    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.

    Jenga Investment Partners (IP) Global Outperformers.

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