Clay Finck chats with Dan Rasmussen about why Japanese equities offer some of the most attractive valuations in the market today, how stretched growth stock valuations are relative to value and much more. Dan is the Founder and Portfolio Manager of Verdad, which is a global asset management firm that strives to achieve the highest risk-adjusted returns possible through rigorous research and its practical application. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro. 01:45 - Contrarian views of the ma...
Jul 16, 2023•55 min•Ep 758•Transcript available on Metacast Clay Finck talks with Charles Clinton on today's show, diving into commercial real estate and EquityMultiple. They discuss trends in prices amidst interest rate hikes, and how EquityMultiple ventures into niche asset classes like self-storage and car washes. Charles is the co-founder and CEO of EquityMultiple, which is a leading online investment platform that is leveraging technology to help modernize the real estate industry IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro. 01:35 - The macro trends...
Jul 14, 2023•53 min•Ep 757•Transcript available on Metacast Jason Maier, author of a book called A Progressive Case for Bitcoin, joins Preston Pysh on the show to dispel Bitcoin myths with sound reasoning and data and analysis. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 01:57 - What happened when Jason posted a Bitcoin poster on his wall at work? 10:29 - Jason's deep dive into Bitcoin Mining and the environmental impact. 24:30 - Is Bitcoin an extension of Occupy Wall Street? 30:15 - Bitcoin and Too Big to Fail Banks. 35:03 - Can Bitcoin make war less p...
Jul 12, 2023•1 hr 9 min•Ep 756•Transcript available on Metacast In this episode, William Green chats with famed author Pico Iyer about how to create a life that’s truly richer, wiser, & happier. Pico has written 15 books & delivered 4 TED Talks that have received nearly 12 million views. Here, he shares profound & practical insights drawn from his vast range of personal experience: he’s spent decades as a travel writer; befriended everyone from the Dalai Lama to Leonard Cohen; lost everything he owned in a wildfire; & built a remarkably peaceful & productive...
Jul 09, 2023•2 hr 13 min•Ep 755•Transcript available on Metacast Clay Finck chats with fan favorite Ian Cassel about a wide array of topics, including the role of mentors in his development as an investor, the three characteristics of a business that lead to “Lightning in a Bottle”, and unconventional methods he uses to understand a business better than nearly all other investors. 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...
Jul 07, 2023•1 hr 6 min•Ep 754•Transcript available on Metacast Preston Pysh brings Brandon Quittem to the show to talk about his deep interest in biology and nature, and how the Bitcoin network is evolving in harmonious ways with nature. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 01:34 - Who is Brandon and his background in Fungi? 01:34 - Fungi 101 and how they work with plants in the forest. 01:34 - Mycelium and it's complex network under the soil. 16:18 - How Bitcoin mimics Biology. 18:39 - Proof of Work and how Fungi decompose organic matter. 23:08 - N...
Jul 05, 2023•1 hr 9 min•Ep 753•Transcript available on Metacast Clay Finck completes his review of Howard Marks’ book – Mastering the Market Cycle. This is a wonderful book for understanding market cycles and where we are at in the cycle at any given time. Most investors aren’t aware of the cyclicality of markets and are prone to fall victim to greed and fear at the exact wrong times. Superior investors are aware of markets cycles, and position themselves to profit from them. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro. 01:33 - How Howard Marks thinks about ...
Jul 02, 2023•1 hr 2 min•Ep 752•Transcript available on Metacast Preston Pysh and Luke Gromen talks about the current events unfolding around the Fed’s current rate hike pause, whether this is it or will they keep on tightening in future meetings. They talk about the energy market, its impact on treasury yields, the Bitcoin shift that’s currently taking place, and more. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 01:26 - The FED recently paused with their efforts to raise interest rates - what's happening? 04:08 - Everyone's talking about the TGA needing ref...
Jun 28, 2023•1 hr 9 min•Ep 751•Transcript available on Metacast In this special episode, William Green shares several fundamental, life-changing lessons that he’s learned from his conversations with Charlie Munger, Mohnish Pabrai, Tom Gayner, & John Spears. The focus here is on powerful insights that can guide & enrich you both in business & life. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:37 - Why Charlie Munger thinks being ethical is a huge competitive advantage 17:16 - Why Munger urges you to get “toxic people” out of your life, & do it fast. 24:52 -...
Jun 25, 2023•1 hr 25 min•Ep 750•Transcript available on Metacast Clay Finck and Polina Pompliano discuss her book "Hidden Genius," exploring mental frameworks of high performers to unlock their full potential. After five years of writing The Profile, Polina Marinova Pompliano has studied hundreds of successful people and examined how they reason their way through problems, unleash their creativity, navigate relationships, and perform under extreme pressure. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro. 02:11 - How Polina defines success. 04:40 - What people-ba...
Jun 23, 2023•1 hr 2 min•Ep 748•Transcript available on Metacast Preston Pysh brings back expert digital asset attorney Joe Carlasare, and resonant realist American Hodl. These two are the perfect mix to cover the Binance and Coinbase battle currently taking place against the SEC. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 00:50 - Joe's overview of everything happening from a legal sense in the US over the past 6 months. 00:50 - What is a TRO and how has the SEC used it against Binance? 17:35 - Will the Ripple lawsuit have any impact on the the Coinbase or ...
Jun 21, 2023•1 hr 17 min•Ep 749•Transcript available on Metacast On today’s show, Stig Brodersen talks with co-host William Green, the author of “Richer, Wiser, Happier.” With a strong focus on books, they discuss what has made them Richer, Wiser, or Happier in the past quarter. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:27 - How to curate a book list 12:53 - How can you find books the same way as your pick stocks 23:32 - Which books have made us Wiser, Richer, and Happier 30:14 - How the master appears when the student is ready 44:13 - Whether AI changes...
Jun 18, 2023•2 hr 49 min•Ep 747•Transcript available on Metacast On today’s episode, Clay reviews Howard Marks’ book – Mastering the Market Cycle. This is a wonderful book for understanding market cycles and where we are at in the cycle at any given time. Most investors aren’t aware of the cyclicality of markets and are prone to fall victim to greed and fear at the exact wrong times. Superior investors are aware of markets cycles, and position themselves to profit from them. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro. 03:32 - Why it’s important to understand...
Jun 16, 2023•57 min•Ep 746•Transcript available on Metacast Preston Pysh chats with André Neves all about Bitcoin and its integration into gaming. André is the co-founder and CTO at Zebedee. Zebedee is a company that lets developers make turnkey financial transactions native to their apps and games. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 01:41 - What exactly is Zebedee and what makes it unique in the Bitcoin and gaming space? 06:01 - Could you describe, in layman's terms, the technology behind Zebedee's API for streaming Bitcoin sats? 06:01 - What ...
Jun 14, 2023•1 hr 4 min•Ep 745•Transcript available on Metacast On today’s classic episode, we study Billionaire Peter Thiel. Peter co-founded PayPal and he was the CEO until the sale to eBay in 2002 for $1.5 billion. After the sale of PayPal, Thiel started a big data analysis company called Palantir Technologies. He also became the founder of a venture capital firm called Founders Fund. With this firm, Thiel became Facebook’s first outside investor when he acquired a 10% stake for as little as $500,000 in August of 2004. Peter’s personal net worth today is ...
Jun 11, 2023•46 min•Ep 744•Transcript available on Metacast On today’s episode, Clay chats with Scott Patterson about his new book - The Chaos Kings. The Chaos Kings tells the story of the hedge fund that achieved average annual returns of over 105% from 2008 through 2019, and how Bill Ackman had a $27 million dollar bet that turned into over $2.6 billion. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro. 02:35 - Who the Chaos Kings are. 05:38 - The story of Nassim Taleb and Mark Spitznagel setting up a hedge fund that delivered average returns of 105% annual...
Jun 09, 2023•58 min•Ep 743•Transcript available on Metacast Preston Pysh talks to Bitcoin layer two Lightning expert Jesse Shrader on the show about all the fascinating stuff they have going on with their Amboss website. Amboss is a website that analyzes all the Bitcoin full nodes and immediately settling channels that are open between the nodes on the network. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 01:43 - How did Jesse get into Layer 2 Lightning Bitcoin? 03:07 - How Jesse's background in class action lawsuits against big banks impacted the way he...
Jun 07, 2023•47 min•Ep 742•Transcript available on Metacast 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 added Teqnion as the newest addition to his portfolio. Hari’s pick, Palantir, has recently traded at a 52-week high after a preceding 80% drop, and Tobias pitches Virtu Financial, a value stock with strong cash flows in uncertain times. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:35 - The group’s takeaways from the Berkshire Hathaway...
Jun 04, 2023•1 hr 22 min•Ep 741•Transcript available on Metacast On today’s episode, Clay reviews Thomas Phelps’s book - 100 to 1 in the Stock Market, and also highlights writings put out by Akre Capital Management. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro. 02:30 - Common characteristics of companies that increased their share price by 100x. 11:11 - Why most investors aren’t able to hang onto their winners as Phelps suggests. 14:05 - Why good stock selection is much more important than good stock market timing. 31:36 - Mental models Phelps uses to figure o...
Jun 02, 2023•57 min•Ep 740•Transcript available on Metacast Anil Patel talks about his new book, The Bitcoin Handbook. There are many different fields of study Bitcoin touches that it can be difficult for people to grasp all the complexity in harmonizing concepts that are happening on this protocol. In this interview, Anil went on an intellectual journey simplifying and stitching it all together. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 01:15 - What was Anil trying to accomplish with the book? 06:59 - Of all the mental models and paradoxes mentioned ...
May 31, 2023•1 hr 3 min•Ep 739•Transcript available on Metacast In this episode, William Green chats with hedge fund manager Christopher Begg, who is the CEO, Chief Investment Officer, & co-founder of East Coast Asset Management. Chris is also a revered professor at Columbia Business School, where he teaches the Security Analysis class that was originally taught by Warren Buffett’s mentor, Ben Graham. Here, Chris shares powerful lessons on how to identify high-quality businesses & build a life that’s defined by a commitment to quality. IN THIS EPISODE YOU’LL...
May 28, 2023•2 hr 8 min•Ep 738•Transcript available on Metacast On today’s episode, Clay reviews one of Warren Buffett’s favorite investment books called The Outsiders by William Thorndike Jr. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro. 01:56 - How we should evaluate the performance of a CEO during their tenure. 03:01 - How Henry Singleton led Teledyne to deliver a 20.4% average annual return to shareholders during his 30 year tenure. 09:18 - How most CEOs think like foxes, while Outsider CEOs think like hedgehogs. 22:15 - What it means to be an exceptional...
May 26, 2023•56 min•Ep 737•Transcript available on Metacast In part two of Preston Pysh's discussion with Tuur Demeester, they go deep into Tuur's latest report on why right now in particular is a great time to be a Bitcoin bull. Tuur talks about numerous on-chain metrics, and circumstances happening in the macro backdrop that only contribute to the bullish narrative. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 01:59 - What do inscriptions actually mean for L1 and L2 bitcoin networks? 08:19 - Why do so many people have the urge to update the code base? ...
May 24, 2023•50 min•Ep 736•Transcript available on Metacast On today’s episode, Clay chats with John Jennings about his new book - The Uncertainty Solution. John Jennings is President and Chief Strategist of St. Louis Trust & Family Office, which has $12 billion dollars in assets under management. He is also a member of the firm’s Management Committee, on its Board of Directors, and also serves on the Investment, Risk Management, and Trust Committees. John works closely with client families, advising them in all areas of wealth management. IN THIS EPISOD...
May 21, 2023•1 hr 17 min•Ep 735•Transcript available on Metacast On today’s episode, Clay Finck brings back Tavi Costa to chat about the beginning of a commodity supercycle. Tavi gives a masterclass in why we are just in the beginning phases of a bull market for gold, silver, and hard assets like commodities. Tavi is a partner and portfolio manager at Crescat Capital. His research has been featured in financial publications such as Bloomberg, The Wall Street Journal, CNN, among others. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro. 03:31 - Why Tavi believes we’...
May 19, 2023•1 hr 25 min•Ep 733•Transcript available on Metacast In this first of a two-part series, Preston Pysh and Tuur Demeester cover all the talk about the inscriptions and the high fees that we’re currently seeing on layer one of the network. They also talk about scalability on layer two regulatory developments and plenty more. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 01:59 - What do inscriptions actually mean for L1 and L2 bitcoin networks? 08:19 - Why do so many people have the urge to update the code base? 11:17 - Why are inscriptions potentiall...
May 17, 2023•51 min•Ep 734•Transcript available on Metacast On today’s show, we have the honor of interviewing legendary real estate investor and entrepreneur, Sam Zell. Sam Zell has an impressive background, having started his career in real estate in the late 1960s. He is the founder and chairman of Equity Group Investments, a leading private investment firm. Over the course of his career, Sam has made many bold moves and investments, earning him a reputation as a savvy and fearless investor. One of Sam's most notable achievements was his role in creat...
May 14, 2023•1 hr 6 min•Ep 731•Transcript available on Metacast In this episode, Clay Finck presents his favorite clips from the 2023 Berkshire Hathaway annual shareholder meeting, featuring insightful responses from Buffett and Munger during the marathon Q&A session, along with his own thoughts on their answers. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro. 05:30 - Buffett and Munger’s thoughts on the commercial real estate. 09:37 - Why value investors must evolve to the increasingly competitive world of investing. 17:36 - How Buffett allocates capital to ba...
May 12, 2023•1 hr 11 min•Ep 730•Transcript available on Metacast Alex Gladstein previously discussed his groundbreaking article on the IMF and the World Bank. On today's episode, he is back with even more as he’s turned all of his research into a full-blown book on the topic. Preston and Alex cover new and additional ideas, which are vital information for understanding the impact of the legacy financial system and the abundant hope that Bitcoin brings to so many regions around the world. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 01:17 - Why Alex wrote the ...
May 10, 2023•1 hr 4 min•Ep 729•Transcript available on Metacast On today’s show, Stig Brodersen talks with legend investor Mohnish Pabrai. In the interview, Mohnish Pabrai generously shares his investment framework and touches on various stocks, including Alibaba, Constellation Software, Reysas Logistics, and Shinoken. Disclaimer: Stig Brodersen is invested in Pabrai Funds. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro. 01:35 - How to stay objective when you get advice from someone you admire and like 04:56 - Why the Turkey stock market is attractive 10:05 - M...
May 07, 2023•1 hr 6 min•Ep 728•Transcript available on Metacast