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  • Today's Bitcoin Fundamentals features Jeff Walton discussing MicroStrategy's finance strategies, including valuation and leveraging Bitcoin. We examine price actions, trading methods, and the impact of traditional finance on BTC futures, offering insights into the intersection of enterprise software and financial engineering.

    IN THIS EPISODE YOU’LL LEARN:
    00:00 - Intro
    01:41 - The role of MicroStrategy in modern financial strategies.
    07:41 - Game theory principles applied to market structure and investor behavior.
    16:18 - How Jeff Walton evaluates MicroStrategy's valuation.
    16:18 - Insights into leveraging Bitcoin as collateral in finance.
    16:18 - The potential of enterprise software in financial engineering.
    32:58 - The differences between trading strategies and investment philosophies.
    50:45 - The dynamics behind the price action of MicroStrategy's stock.
    56:02 - Understanding short squeezes and their impact on valuation.

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

    BOOKS AND RESOURCES

    Jeff Walton's Twitter.

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

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


    NEW TO THE SHOW?

    Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.

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

  • Kyle Grieve chats with Vitaliy Katsenelson about why we should align ourselves with what we love doing, how stoicism has helped Vitaliy deal with the volatility of negative emotions in the market and life, Vitaliy’s four favorite stoic tools, how to engineer our environments to improve our decision making and decrease costly mistakes, how we can utilize specific modes of communication to foster the learning process, why we should concern ourselves more with the truth and less on being right, how the markets have developed in the last decade pertaining to sideways markets, and a whole lot more!

    IN THIS EPISODE YOU’LL LEARN:
    00:00 - Intro
    02:04 - What soul in the game is and why it's so important to understand it if you want to truly excel at investing and other passions.
    07:36 - Why meditation is such a powerful tool to help improve stress.
    13:40 - How Vitaliy prioritizes areas of his life to ensure he's spending the right amount of time on high-priority areas.
    19:13 - How stoicism has helped Vitaliy remove the volatility of negative emotion in the market and life.
    20:13 - How investors can utilize the dichotomy of control to navigate volatile markets better.
    20:13 - Simple negative visualizations to use on individual stocks and your portfolio to improve decision-making.
    36:43 - Why toxic environments can influence us to live by other people's values.
    40:30 - Why specific tasks should be delegated so you are focused only on creating value.
    48:16 - Why our modes of communication can limit or expedite our abilities to improve and learn.
    48:25 - The importance of discovering the truth for successful investing.
    And so much more!

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

    BOOKS AND RESOURCES

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

    Buy Soul In The Game here.

    Buy The Little Book Of Sideways markets here.

    Read Vitaliy’s articles here.

    Check out Vitaliy’s fund, IMA, 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.

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


    NEW TO THE SHOW?

    Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.

    Check out our We Study Billionaires Starter Packs.

    Browse through all our episodes (complete with transcripts) here.

    Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.

    Enjoy exclusive perks from our favorite Apps and Services.

    Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.


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


    SPONSORS
    Support our free podcast by supporting our sponsors:

    River

    Toyota

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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!
    Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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  • On today’s episode, Clay is joined by Dr. Robert Cialdini to discuss Charlie Munger’s favorite book – Influence: The Psychology of Persuasion.

    Dr. Cialdini is a New York Times Best Selling Author of Influence and Pre-Suasion.

    He is also CEO and President of Influence at Work where they focus on ethical training, corporate keynote program, and the Cialdini Method Certified Trainer program. He received his PhD from the University of North Carolina and post-doctoral from Columbia University. In acknowledgment of his outstanding research achievements and contributions in behavioral science, he is frequently regarded as the “Godfather of Influence.”

    IN THIS EPISODE YOU’LL LEARN:
    00:00 - Intro
    01:53 - The story of what led Charlie Munger to give a Berkshire A share to Dr. Cialdini.
    03:57 - How Buffett and Munger use reciprocity to enrich the world and themselves.
    10:36 - What Cialdini learned in his personal interactions with Munger.
    18:55 - How the commitment & consistency bias can affect us as investors.
    23:04 - How we can utilize the principles of Influence in an honest and ethical way.
    26:28 - Why trust is at the foundation of all great business relationships.
    40:23 - Why the principle of scarcity is so powerful even in a world full of abundance.
    58:54 - How we can guard ourselves against the liking bias when assessing management.

    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 Influence at Work & the Cialdini Institute.

    Dr. Cialdini’s books: Influence, Pre-Suasion, Yes!: 50 Scientifically Proven Ways to Be Persuasive


    Related Episode: MI091: Warren Buffett’s #3 & Charlie Mungers #1 Business Book Of All-time w/ Robert Cialdini | YouTube Video


    Related Episode: TIP022: Influence – Robert Cialdini’s Psychology Of Persuasion w/ Preston & Stig | YouTube Video


    Follow Robert 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

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

  • Join us as Parker Lewis & Will Cole delve into Bitcoin's role as property or currency, discuss Bill Ackman's views and Saylor's latest buy. We explore Bitcoin payments, the impact of high rates, and the future of digital authentication. This episode is packed with insights on the evolving cryptocurrency landscape and its broader economic implications. Tune in for a deep dive into the forefront of digital assets.

    IN THIS EPISODE YOU’LL LEARN:
    00:00 - Intro
    11:03 - Bill Ackman's prediction on Bitcoin's cycle and its implications on the economy.
    26:26 - Michael Saylor's strategic acquisition of an additional 12,000 BTC for MicroStrategy.
    27:12 - The debate on whether Bitcoin should be considered digital property or a currency.
    38:50 - The potential of Bitcoin payments and the innovative approach of Zaprite.
    38:50 - Integration of fiat payments in the Bitcoin ecosystem, including the use of stablecoins and traditional currencies.
    51:28 - The feasibility and implications of receiving lightning payments through a Tor-enabled node.
    51:28 - The challenge of authentication in the digital age, especially in the context of AI and the potential for misinformation.
    01:02:32 - A discussion on global policy trends and competition in the digital asset space, highlighting the strategic importance of cryptocurrency.

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

    BOOKS AND RESOURCES

    Checkout Parker and Will’s company ZapRite.

    Parker’s recent book: Gradually, Then Suddenly.

    Related Episode: Listen to BTC156: Bitcoin is Not A Hedge w/ Parker Lewis, or watch the video.

    Related Episode: Listen to BTC092: Bitcoin Energy & Custody w/ Parker Lewis & Will Cole, 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

    NetSuite

    CI Financial

    Fidelity

    Wise

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    NDTCO

    Linkedin Marketing Solutions

    Vacasa

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    Shopify

    Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
    Learn more about your ad choices. Visit megaphone.fm/adchoices
    Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

  • 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:

    River

    Toyota

    Wise

    NetSuite

    Fidelity

    TurboTax

    NDTCO

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    Fundrise

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

  • 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

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

  • 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

    NetSuite

    CI Financial

    Fidelity

    Wise

    TurboTax

    Fundrise

    NDTCO

    Linkedin Marketing Solutions

    Vacasa

    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!
    Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
    Learn more about your ad choices. Visit megaphone.fm/adchoices
    Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

  • 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

    NetSuite

    CI Financial

    Fidelity

    Wise

    TurboTax

    Fundrise

    NDTCO

    Linkedin Marketing Solutions

    Vacasa

    Babbel

    Shopify

    Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
    Learn more about your ad choices. Visit megaphone.fm/adchoices
    Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

  • 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

    NetSuite

    CI Financial

    Fidelity

    Wise

    TurboTax

    Fundrise

    NDTCO

    Linkedin Marketing Solutions

    Vacasa

    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!
    Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
    Learn more about your ad choices. Visit megaphone.fm/adchoices
    Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

  • 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:

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    HELP US OUT!
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  • 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

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  • 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:

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

  • 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

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

    River

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

  • 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:

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

  • 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

    Toyota

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    Fidelity

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

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

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

  • 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.


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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.


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