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,...
Feb 25, 2024•1 hr 27 min•Ep 844•Transcript available on Metacast 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 survivo...
Feb 23, 2024•1 hr 1 min•Ep 843•Transcript available on Metacast 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 tec...
Feb 21, 2024•1 hr 17 min•Ep 842•Transcript available on Metacast 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...
Feb 18, 2024•2 hr 55 min•Ep 841•Transcript available on Metacast 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 - ...
Feb 16, 2024•1 hr 3 min•Ep 840•Transcript available on Metacast 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 po...
Feb 14, 2024•56 min•Ep 839•Transcript available on Metacast 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 manag...
Feb 11, 2024•52 min•Ep 838•Transcript available on Metacast 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 I...
Feb 09, 2024•1 hr•Ep 839•Transcript available on Metacast 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: ...
Feb 07, 2024•1 hr 1 min•Ep 836•Transcript available on Metacast 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...
Feb 04, 2024•56 min•Ep 835•Transcript available on Metacast On today’s episode, Clay and Kyle give an overview of their best quality stock idea for Q1 2024. This quarter, they discuss Evolution AB. Evolution AB is well-known in the world of quality investors. The stock has compounded by over 60% per year over the past 5 years and seems to have a long runway for growth ahead. Clay and Kyle give an overview of why they own the stock and why they like the company's long-term prospects. Disclaimer: At the time of recording, Clay and Kyle both own shares in E...
Feb 02, 2024•1 hr 19 min•Ep 834•Transcript available on Metacast Dive into the world of Bitcoin mining with expert Harry Sudock. This episode unpacks the complexities of on-chain fee management and the intricacies of over-the-counter transactions on the blockchain. Sudock provides unique insights into the operational strategies of miners, revealing the unseen mechanisms that support blockchain efficiency and stability. An enlightening discussion for anyone interested in the behind-the-scenes of Bitcoin. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 08:23 - The ...
Jan 31, 2024•1 hr 2 min•Ep 833•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 kindness, they discuss what has made them Richer, Wiser, or Happier in the past quarter. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 01:26 - What we can learn from the greatest investors about being authentic 16:40 - How to stay true to yourself 25:55 - How we change throughout the stages of our lives 43:44 - If principles are truly timeless 1:00:52 - What William lea...
Jan 28, 2024•2 hr 12 min•Ep 832•Transcript available on Metacast On today’s episode, Clay is joined by Morgan Housel to discuss his newest book, Same as Ever, and uncover the key themes in financial history that have never changed. 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 4.5 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 - In...
Jan 26, 2024•54 min•Ep 831•Transcript available on Metacast Join us in this insightful episode where Caitlin Long of Custodia Bank and Wes Knobel delve into the innovative non-fractional reserve system, the challenges faced with the Federal Reserve, and the dynamic world of cryptocurrency banking. They discuss Custodia's unique approach, its role in the post-Silicon Valley bank crisis landscape, and the evolving challenges and opportunities in cryptocurrency custodianship. This conversation offers a deep dive into the intersection of traditional banking,...
Jan 24, 2024•1 hr 10 min•Ep 830•Transcript available on Metacast In this episode, William Green chats with Laura Geritz, founder of Rondure Global Advisors, which scours the globe in search of high-quality companies trading at attractive prices in places like India, China, Japan, Thailand, Taiwan, Turkey, Brazil, & Mexico. Here, Laura makes the case for allocating more money to undervalued stocks outside the US. She also discusses her unusual lifestyle, which is built around relentless travel, voracious reading, & abundant time to think. IN THIS EPISODE, YOU’...
Jan 21, 2024•2 hr 4 min•Ep 829•Transcript available on Metacast On today’s episode, Clay shares his biggest takeaways from reading billionaire Willis Johnson’s book – Junk to Gold. Willis Johnson founded Copart in 1982, and today he is worth over $2.6 billion through his equity ownership in the company. Copart is one of the most impressive businesses we’ve studied. Over the past 30 years, the stock has compounded at over 21% per year, outperforming Microsoft, Adobe, and the majority of other stocks. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 08:15 - The ke...
Jan 19, 2024•1 hr 24 min•Ep 828•Transcript available on Metacast Dive into Bitcoin's 2024 technical landscape with NVK. We dissect the impact of covenants and CheckTemplateVerify (CTV) on smart contracting and scalability, analyze OP_RETURN's usage, and evaluate the Lightning Network's potential for scaling. We also ponder Layer 2's self-custody significance, tackle block spam concerns with node filters, and delve into transaction developments brought by SegWit and Taproot. Additionally, we discuss BRC20 implications and assess the Mempool's health score. IN ...
Jan 17, 2024•59 min•Ep 827•Transcript available on Metacast On today’s episode, Kyle talks to Hamilton Helmer about the power of being an educator and how it’s helped him improve at strategy and investing, the differences between power and operational excellence, how he formulated his 7 powers, a deep dive into all 7 powers, updated case studies of some of the powers, why barriers are so important when benefits are much easier to find. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 01:41 - How Hamilton uses his knowledge of strategic consulting to invest i...
Jan 14, 2024•45 min•Ep 826•Transcript available on Metacast On today’s episode, Clay is joined by Jonathan Boyar. They discuss his firm’s most recent release of The Forgotten Forty, which outlines their 40 best stock ideas for 2024. Jonathan Boyar is president of Boyar’s Intrinsic Value Research, an independent equity research boutique established in 1975 that counts some of the world’s largest sovereign wealth funds, hedge funds, mutual funds, and family offices as subscribers. He is also a principal of Boyar Asset Management, which has been managing mo...
Jan 12, 2024•52 min•Ep 825•Transcript available on Metacast In this insightful episode, real estate expert Leon Wankum delves into the evolving landscape of asset investments. We discuss how Bitcoin could redefine real estate's value, comparing traditional and digital asset strategies. Leon shares his thoughts on Bitcoin's influence on property prices, its role as a new monetary standard, and potential shifts in real estate financing. A must-listen for anyone interested in the intersection of Bitcoin and real estate. IN THIS EPISODE YOU’LL LEARN: 00:00 -...
Jan 10, 2024•55 min•Ep 824•Transcript available on Metacast In this episode, William Green brings back Daniel Goleman, author of “Emotional Intelligence,” an iconic book that’s sold over 5 million copies. Here, Dan talks about his new book, “Optimal: How to Sustain Personal & Organizational Excellence Every Day.” He explains how to master the skills of emotional intelligence to become more productive, more effective, calmer, & happier. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 04:55 - Why Daniel Goleman seeks sustainable excellence, not a “flow” state...
Jan 07, 2024•2 hr 50 min•Ep 823•Transcript available on Metacast On today’s episode, Clay shares a tribute to Charlie Munger since we just crossed what would have been his 100th birthday on January 1st, 2024. Charlie Munger was vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett. Buffett described Munger as his closest partner and right-hand man. At the time of his death, Munger had an estimated net worth of $2.6 billion. Charlie has had an enormous impact on the value-investing community, and this episode is dedicated to him to...
Jan 05, 2024•52 min•Ep 822•Transcript available on Metacast 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 100 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 study...
Jan 03, 2024•1 min•Transcript available on Metacast In this insightful episode, we dive into the dual role of Bitcoin mining rigs in both generating cryptocurrency and heating water at home. Our guest, a skilled Bitcoin engineer, shares the technical nuances and environmental considerations of his unique setup. The conversation also analyzes the strategic consequences of the Red Sea conflict, discussing its profound effects on international trade, maritime security, and the stability of the US dollar in global finance. IN THIS EPISODE, YOU’LL LEA...
Jan 03, 2024•1 hr 5 min•Ep 822•Transcript available on Metacast On today’s episode, Kyle shares the lessons he learned from reading What I Learned About Investing From Darwin by Pulak Prasad. The book is authored by Pulak Prasad, an investor out of India who helps run Nalanda Capital. From 2007 to 2022, they compounded their capital at 19% per annum turning 1 rupee into 13.8 rupees during that time sample!! But more important than their track record is the unique ways they run their fund. The book illuminates 3 key principles that Nalanda uses for its invest...
Jan 02, 2024•1 hr 7 min•Ep 821•Transcript available on Metacast On today’s show, Stig Brodersen talks with co-host Clay Finck. They outline how and why you should invest in high-quality businesses. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 01:43 - How to identify the best businesses 06:00 - Why you need to focus on barriers of entry when assessing a stock 06:44 - Why competition is for losers 18:28 - When management is important and not important in high-quality investing 23:07 - How you want the management to be compensated 24:41 - Why insider ownership ...
Dec 31, 2023•1 hr 23 min•Ep 820•Transcript available on Metacast On today’s episode, Clay is joined by financial history expert, Jamie Catherwood, to discuss market forecasting, interest rates, and the efficiency of markets from a historical perspective. Jamie Catherwood is a Client Portfolio Specialist at O'Shaughnessy Asset Management and also the author of the popular blog, Investor Amnesia. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 01:35 - Why we shouldn’t try to make market forecasts. 04:56 - Psychological biases that play into why investors are prone...
Dec 29, 2023•56 min•Ep 819•Transcript available on Metacast In the podcast 'The Free Speech Solution' with Miljan Braticevic, we explore Nostr's role in free speech and its unique aspects. The discussion covers why Nostr is pivotal, its ecosystem, and Primal's user-focused approach, featuring an integrated wallet and open-source stack. Key topics include Zaps, reshaping content publishing, content moderation in open networks, Primal Wallet's innovations, and partnerships. Insights into Nostr's current technical challenges and entrepreneurial lessons, alo...
Dec 27, 2023•1 hr 9 min•Ep 818•Transcript available on Metacast In this rare, in-depth interview, William Green chats with super investor Rick Rieder, who oversees about $2.6 trillion at BlackRock, the world’s largest asset manager. Rick, who probably manages more money than any other investor on Earth, has an enormous range of responsibilities: he’s BlackRock’s chief investment officer of Global Fixed Income, head of the firm’s Global Allocation Investment Team, and chairman of the firm-wide BlackRock investment council. A true titan of the investing world,...
Dec 24, 2023•2 hr 49 min•Ep 817•Transcript available on Metacast 
