In today’s special episode, William Green looks back at some of the most powerful lessons from the first 50 episodes of the podcast. He highlights four of his favorite interviews: with multibillionaire Ray Dalio, Berkshire Hathaway board member Chris Davis, investing legend Bill Miller, & author Michael Berg. Here, Dalio discusses how to overcome our weaknesses; Miller reveals the insights that made him a vast fortune on Bitcoin; Davis shares what he’s learned from Buffett & Munger; & Berg expla...
Dec 01, 2024•1 hr 29 min•Ep 964•Transcript available on Metacast Anyone can buy a stock in a public company, but not all shareholders are equally committed to a company’s long-term succes. Today’s companies need quality shareholders, or shareholders who buy large stakes and hold for long periods. Lawrence Cunningham explains why in his book — Quality Shareholders: How the Best Managers Attract and Keep Them. When it comes to corporate governance, there is no one better to learn from than Lawrence. He’s the Director of the John Weinberg Center for Corporate Go...
Nov 29, 2024•1 hr 12 min•Ep 963•Transcript available on Metacast In this episode, we dive into Bitcoin, on-chain analysis, and future adoption trends, exploring topics from OTC exchanges to Bitcoin’s price potential and regulatory impacts. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:47 - Why Bitcoin exchange balances have declined and what this signals. 03:28 - Why Australian Bitcoiners are prominent despite lagging national adoption. 07:10 - The role of OTC exchanges in today’s BTC transactions. 11:04 - Whether on-chain analysis remains relevant amid OTC ...
Nov 27, 2024•1 hr 11 min•Ep 962•Transcript available on Metacast On today’s episode, Kyle Grieve discusses major takeaways from the book The Warren Buffett Portfolio, including why concentrated portfolios offer the highest probabilities of outperforming, how focus investors think about risk, Warren Buffett’s four-step framework for identifying great investments, the importance of patience, discipline, and self-awareness to investing success, how to widen your circle of competence, why thinking in probabilities is intertwined with outperfrmance and risk reduct...
Nov 24, 2024•1 hr 6 min•Ep 961•Transcript available on Metacast On today’s episode, Clay is joined by Roger Fan to discuss Joel Greenblatt’s book, “You can be a Stock Market Genius.” Joel Greenblatt is one of the greatest hedge fund managers of all time. Greenblatt famously averaged 40% a year over 20 years. At that rate, $1 million grows into $836 million. He’s also the author of best-selling classics like “The Little Book that Beats the Market” and was a key character in William Green’s book, “Richer, Wiser, Happier.” Roger Fan is the Chief Investment Offi...
Nov 22, 2024•1 hr 18 min•Ep 960•Transcript available on Metacast Exploring Bitcoin's Future as Both Store of Value and Medium of Exchange with Roy Sheinfeld, CEO of Breez, a leader in Bitcoin's Lightning Network. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:22 - How Breez uses the Lightning Network to enable seamless Bitcoin transactions. 04:50 - Challenges and solutions to improving Bitcoin’s user experience for mainstream adoption. 08:47 - Why Roy Sheinfeld believes Bitcoin must function as both a store of value and a medium of exchange. 18:54 - The long-...
Nov 20, 2024•1 hr 4 min•Ep 959•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 building meaningful relationships and traveling with friends along the path, they discuss what has made them Richer, Wiser, or Happier in the past quarter IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:12 - Why the opposite of a virtue is also a virtue 23:06 - Why the Nomad Partnership principles resonate so deeply with the value investing community 29:22 - Why it simp...
Nov 17, 2024•2 hr 15 min•Ep 958•Transcript available on Metacast On today’s episode, Clay and Kyle give an overview of their best quality stock idea for Q4 2024. This quarter, they discuss Mastercard. Mastercard is a well-known company in the world of quality investors. Since its IPO in 2006, the stock has compounded at north of 30% per year. Alongside Visa, Mastercard operates in a duopolistic industry which enables them to continue to grow for long time periods with little capital investment. The company is also held in many superinvestors portfolios, inclu...
Nov 15, 2024•2 hr 32 min•Ep 957•Transcript available on Metacast Join us as we delve into Dread’s inspiring story, from his days as a world-class athlete to his significant contributions in the world of Bitcoin. Learn about the Caribbean crypto landscape, challenges of CBDCs, and his work with OpenSats funding innovative Bitcoin projects. Discover more about Flash, his Bitcoin wallet and exchange platform, and the fascinating world of e-cash engineering. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:34 - How Dread transitioned from a track and field career t...
Nov 13, 2024•1 hr 2 min•Ep 956•Transcript available on Metacast In today’s episode, William Green chats with Brad Stulberg about how to thrive amid change. Brad is the best-selling author of Master of Change: How to Excel When Everything is Changing—Including You & The Practice of Groundedness: A Transformative Path to Success that Feeds—Not Crushes—Your Soul. Here, he shares practical tools & strategies based on scientific research, battled-tested wisdom, & his work as a high-performance coach to business leaders & elite athletes. IN THIS EPISODE YOU’LL LEA...
Nov 10, 2024•2 hr 31 min•Ep 955•Transcript available on Metacast On today’s episode, Clay is joined by Andrew Brenton to discuss his biggest investment lessons from beating the market over the past 25 years. Andrew Brenton is the CEO and co-founder of Turtle Creek Asset Management. Since its inception in 1998, Turtle Creek has achieved an average annual return of 20.3% versus just 8.3% for the S&P 500. $10,000 invested into their fund at inception would have grown to over $1.2 million as of September 30th, 2024, and had that money been invested in the market,...
Nov 08, 2024•1 hr 12 min•Ep 954•Transcript available on Metacast NVK joins the show to discuss the potential of AI, explore the impact of Nostr on data vending and content creation, and share his thoughts on security, hardware manufacturing challenges, and what's exciting in Bitcoin’s evolving tech landscape. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 08:34 - The core concept behind NVK's AI project, Unleashed.chat 14:54 - What digital vending machines are, and how they tie into Nostr. 21:13 - Frustrations NVK has with common security advice. 22:36 - Key adv...
Nov 06, 2024•1 hr 1 min•Ep 953•Transcript available on Metacast On today’s episode, Kyle Grieve discusses the anatomy of a speculative event, why it’s so easy for people to take part in them, and why these events are unlikely to stop in the future; a few major euphoric episodes from history outlined in the book, three more recent bubbles that most listeners lived though, why the rise in IPOs are often the result of mini bubbles, six primary takeaways from the book to help protect yourself from investing in bubbles, and a whole lot more! IN THIS EPISODE YOU’L...
Nov 03, 2024•1 hr 20 min•Ep 952•Transcript available on Metacast Many investors who analyze stocks take the numbers provided by the company at face value, but there are times when this can be a massive investing mistake. To help shed light on what the earnings provided by a company really mean for us as investors, we reviewed the book — Quality of Earnings by Thornton O'Glove. Thornton is a Wall Street veteran known for pioneering red flag deviation analysis. This book is an indispensable guide to determining how much money a company is really making to help ...
Nov 01, 2024•1 hr 7 min•Ep 951•Transcript available on Metacast In this episode, Matt Odell discusses how open-source Bitcoin development is funded through initiatives like OpenSats, the significance of ignoring Satoshi’s identity, and why Nostr, Cashu, and Fedi are critical for Bitcoin’s future. He also shares insights on building Bitcoin Park, a community hub, and reveals one of his pet peeves in the Bitcoin space. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 03:04 - Why it’s essential to ignore the mystery behind Satoshi’s identity. 08:26 - What OpenSats i...
Oct 30, 2024•1 hr 5 min•Ep 950•Transcript available on Metacast On today’s episode, Kyle Grieve chats with Larry Connor about why being different is crucial to outperformance, why turning over the most rocks and ruthlessly eliminating opportunities is vital to success, why Larry searches for “train wreck” apartments to optimize, the importance of investing counter-cyclically, how being unconstrained by conventional thinking has propelled his success, the critical importance of being disciplined to your core values, and a whole lot more! Larry Connor is the f...
Oct 27, 2024•59 min•Ep 949•Transcript available on Metacast On today’s episode, Clay reviews the wonderful book — Am I Being Too Subtle by Sam Zell. Sam Zell has an impressive background, having started his career in real estate in the late 1960s. He was the founder and chairman of Equity Group Investments, a leading private investment firm. Over the course of his career, Sam 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 creating the modern-day real ...
Oct 25, 2024•1 hr 17 min•Ep 948•Transcript available on Metacast Alex Leishman discusses River's recent report on the 30% growth in business Bitcoin adoption, detailing trends in cross-border payments, treasury management, and the unique ways businesses are integrating Bitcoin. He also touches on River's major new service, the importance of proof of reserves, and shares insights on how companies can navigate volatility in the crypto space. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:46 - Why Bitcoin adoption among businesses grew by 30% in just one year 12...
Oct 23, 2024•51 min•Ep 947•Transcript available on Metacast In today’s episode, William Green chats with Jason Zweig about his updated & revised edition of Benjamin Graham’s The Intelligent Investor, which Warren Buffett describes as “by far the best book on investing ever written.” Jason, who also writes the Wall Street Journal’s Intelligent Investor column, explains why Graham’s classic book still holds vitally important lessons for today’s investors. He also shares what he’s learned from interviewing Buffett & Charlie Munger. IN THIS EPISODE YOU’LL LE...
Oct 20, 2024•2 hr 57 min•Ep 946•Transcript available on Metacast On today’s episode, Clay is joined by Derek Pilecki. Derek is a managing member and portfolio manager at Gator Capital Management, which manages Financials sector long/short portfolios for private partnerships and mutual funds. Since its inception in July 2008, Gator Capital has compounded capital at 21.0% per annum versus 11.8% for the S&P 500 over the same time period. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:48 - Derek’s experience of launching a financials-focused fund 10 weeks before ...
Oct 18, 2024•1 hr 8 min•Ep 945•Transcript available on Metacast In this episode, Allen shares his thoughts on the Saifedean vs. Saylor debate on borrowing against Bitcoin, the role of stablecoins in expanding fiat, and their underlying protocols. He also delves into the risks of stablecoins compared to traditional bank accounts and highlights current technical risks in the crypto space. Allen gives his take on free speech and technologies like Nostr and discusses the growing custody and derivatives activity with institutions like BNY Mellon and IBIT. IN THIS...
Oct 16, 2024•1 hr 1 min•Ep 944•Transcript available on Metacast In today's episode, Stig Brodersen outlines 10 things he has learned about investing since he started The Investor’s Podcast in 2014. In the second segment of the show, Clay Finck joins to discuss his top takeaways from his investing career. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:12 - Why you should be careful who you listen to about stock investing. 07:45 - Why you should not screen for stocks. 08:29 - Why Stig’s circle of competence is getting smaller. 11:31 - Why Stig do not read as m...
Oct 13, 2024•1 hr 23 min•Ep 943•Transcript available on Metacast On today’s episode, Clay is joined by Professor Hendrik Bessembinder to discuss his renowned research on the performance of individual stocks. Professor Bessembinder is a finance professor at Arizona State University, and his research titled, ‘Do Stocks Outperform Treasury Bills?’ has been referenced many times on the show. As a frequent speaker at conferences, financial markets, and universities around the world, Professor Bessembinder has more than 25 years of successful consulting experience,...
Oct 11, 2024•1 hr 1 min•Ep 942•Transcript available on Metacast In this episode, we dive into the technicalities of Bitcoin block templates, the Stratum V1 and V2 protocols, and the innovations brought by Ocean’s Datum Protocol. We also explore a fascinating story of Tesla hacking and the challenges of implementing decentralized mining pools. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:48 - What a Bitcoin block template is and its role in decentralization. 07:07 - The function and limitations of Stratum V1 software. 09:12 - How Stratum V2 aims to improve ...
Oct 09, 2024•1 hr 4 min•Ep 941•Transcript available on Metacast On today’s episode, Kyle Grieve chats with co-host Clay Finck about Clay’s favorite book, The Joys of Compounding. They discuss how compounding can profoundly affect people's lives inside and outside of investing, simple thinking tools to make better decisions, why humility is such an important trait all good investors possess, how to think about value and quality traps regarding evaluation, why you should emphasize compounding in your relationships with others and your health, and a whole lot m...
Oct 06, 2024•1 hr 23 min•Ep 940•Transcript available on Metacast On today’s episode, Clay and Kyle review The Most Important Thing by Howard Marks and share their most impactful takeaways. Howard Marks is the co-founder and co-Chairman of Oaktree Capital Management, a global investment giant with more than $190 billion in assets. He’s also the author of two best-selling books, “The Most Important Thing” and “Mastering the Market Cycle,” and his client memos have earned him renown as one of the world’s most insightful thinkers on financial markets and the art ...
Oct 04, 2024•1 hr 27 min•Ep 939•Transcript available on Metacast In this episode, we dive into SAB 121’s implications on Bitcoin, discuss BNY Mellon’s crypto custody services, and explore how regulatory changes and institutional adoption could shape Bitcoin's future value. We also examine BlackRock’s demands on Coinbase, changes in M2 money supply, and Basel III’s risk weight requirements for cryptoassets. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:32 - The significance of BNY Mellon’s approval for custody services. 02:01 - Michael Saylor's three prerequi...
Oct 02, 2024•1 hr 20 min•Ep 938•Transcript available on Metacast On today’s episode, Kyle Grieve discusses the investing philosophy and concepts from the Nomad Investment Partnership, how they created their fund structure to align themselves with partners, why they settled on inactivity, the powerful effects of businesses that share profits with customers rather than shareholder, how they ended up focusing on the scale economies shared business model, how they dealt with commitment bias, and a whole lot more! IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 04:17 ...
Sep 29, 2024•1 hr 2 min•Ep 937•Transcript available on Metacast On today’s episode, Clay is joined by Ted Seides to discuss his new book — Private Equity Deals: Lessons in investing, dealmaking, and operations from private equity professionals. Over the past 20 years, the private equity industry has gone from a cottage industry to a powerful juggernaut that touches every corner of the global economy — now totaling over $6 trillion. Ted is the former president and Co-CIO of Protege Partners, and prior to that, he was a senior associate, working under investin...
Sep 27, 2024•1 hr 7 min•Ep 936•Transcript available on Metacast Join us as Calle, the creator of Cashu Protocol, explores how Cashu enhances the Bitcoin Lightning Network by offering a privacy-focused solution for micropayments. We delve into key topics such as custodial vs. non-custodial Bitcoin solutions, Cashu’s impact on network growth, and the future of Nostr integration with Bitcoin. Calle also explains how Cashu balances security with usability while aiming to promote global scalability and decentralization. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro...
Sep 25, 2024•1 hr 16 min•Ep 935•Transcript available on Metacast 
