Avsnitt
-
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, it would have been worth around $75,000.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
01:39 - The fundamental drawbacks of a buy-and-hold investment strategy.
10:58 - Why the stock market in the US is becoming less efficient over time.
28:48 - How Andrew thinks about allocating to AI and software businesses in his portfolio.
38:51 - How Turtle Creek manages risk investing in stocks.
52:55 - Why Turtle Creek added Kinsale Capital to their portfolio this year.
01:00:02 - What keeps Andrew going after 30 years in the industry.
And so much more!
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Check out Turtle Creek Asset Management.
Related Episode: Listen to TIP592: Outperforming the Market Since 1998 w/ Andrew Brenton, or watch the video.
Follow Clay on 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 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
7-Eleven
Toyota
Connect Invest
Miro
TastyTrade
Daloopa
The Bitcoin Way
Facet
Public
Fidelity
Fundrise
Onramp
SimpleMining
Bluehost
ReMarkable
Vanta
Shopify
HELP US OUT!
Help us reach new listeners by leaving us a rating and review on Spotify! 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 -
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 advice for newcomers to the Bitcoin space.
26:16 - The challenges and intricacies of hardware manufacturing that often go unnoticed.
35:31 - Why Nostr is revolutionizing long-form content creation.
37:43 - The most exciting technical developments happening in Bitcoin and Nostr.
42:57 - NVK's perspective on Nostr’s growing role in decentralized communication.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
NVK’s AI project: Unleased.chat.
NVK’s X (Twitter) Account.
NVK’s Nostr.
Check out Coinkite.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.
SPONSORS
Support our free podcast by supporting our sponsors:
River
7-Eleven
Toyota
Connect Invest
Miro
TastyTrade
Daloopa
The Bitcoin Way
Facet
Public
Fidelity
Fundrise
Onramp
SimpleMining
Bluehost
ReMarkable
Vanta
Shopify
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm -
Saknas det avsnitt?
-
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’LL LEARN:
00:00 - Intro
03:26 - The blueprint of a speculative event
04:10 - Why we fool ourselves into following people with money who don't deserve to be followed
10:04 - A contrast of risk tolerance between Benjamin Graham and Warren Buffet
15:13 - A detailed account of Tulipomania and the story of the $80,000 price tag for a Tulip
19:13 - How a convicted criminal helped mastermind one of the most giant bubbles in history
25:36 - The importance of due diligence in assisting investors to avoid bubbles
28:13 - How bubbles feed on themselves, opening pathways for other businesses to take advantage of the euphoria
34:56 - A few of the precipitating factors that caused the great depression and the damage it created
39:43 - Breaking down the "Dot-com" bubble, the Great Financial Crisis, and post Covid-19 euphoria
55:41 - Why investors should take responsibility for their wins and their losses
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.
John Kenneth Galbraith's book, A Short History of Financial Euphoria.
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
7-Eleven
Toyota
Connect Invest
Miro
TastyTrade
Daloopa
The Bitcoin Way
Facet
Public
Fidelity
Fundrise
Onramp
SimpleMining
Bluehost
ReMarkable
Vanta
Shopify
HELP US OUT!
Help us reach new listeners by leaving us a rating and review on Spotify! 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 -
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 us avoid making costly blunders.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
07:26 - Why you shouldn’t trust your analyst or the auditors.
15:13 - What to keep an eye on when reading an annual report.
22:35 - Red flags to look out for when analyzing a company’s filings.
31:13 - How managers and accountants can legally manipulate earnings per share, however they see fit.
34:06 - Tools we can use to help determine the quality of earnings for a company.
35:55 - How we can make use of accounting items like accounts receivable and inventory.
49:36 - The impact of dividends on your returns as an investor.
53:11 - The shortfalls of GAAP accounting.
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.
Quality of Earnings book.
Quality of Earnings in M&A.
Related Episode: TIP667: Why Most Stocks Will Lose You Money w/ Hendrik Bessembinder, or watch the video.
Related Episode: TIP601: Junk to Gold by Billionaire Willis Johnson, or watch the video.
Related Episode: TIP656: Mastering Stock Selection with an Investment Checklist w/ Clay Finck, or watch the video.
Follow Clay on 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 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
7-Eleven
Toyota
Connect Invest
Miro
TastyTrade
Daloopa
The Bitcoin Way
Facet
Public
Fidelity
Fundrise
Onramp
SimpleMining
Bluehost
ReMarkable
Vanta
Shopify
HELP US OUT!
Help us reach new listeners by leaving us a rating and review on Spotify! 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
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, 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 is and how it supports open-source Bitcoin development.
08:49 - Insights into building Bitcoin Park, a community space for Bitcoin enthusiasts.
18:38 - The importance of Nostr for Bitcoin communications.
27:26 - How Cashu and Fedi are advancing Bitcoin payments.
32:44 - Why Matt Odell is frustrated by price predictions in the Bitcoin space.
37:46 - Lessons Matt has learned from spending time around Jack Dorsey.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
Odell’s Nostr.
Odell's Website.
OpenSats Website.
Book recommendation: Only the Paranoid Survive by Andrew Grove.
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?
Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
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
7-Eleven
Toyota
Connect Invest
Miro
TastyTrade
Daloopa
The Bitcoin Way
Facet
Public
Fidelity
Fundrise
Onramp
SimpleMining
Bluehost
ReMarkable
Vanta
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 -
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 founder and managing partner of The Connor Group. He founded the Connor group in 1992 with $400k and one investor to purchase three apartment communities. Today, the business has over 1,300 investors and $5 billion in assets. It operates in 18 markets across the United States. Larry is also the founder of The Connor Group Kids & Community Partners, a non-profit organization that helps disadvantaged kids in communities where The Connor Group operates.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
09:17 - The power of thinking of assets as operating businesses
12:11 - Why process is so essential in the refining process for filtering ideas
15:05 - Why Larry looks to purchase train wreck operations, he can optimize at the highest possible rates
17:51 - How utilizing counter-cyclicality is vital to outperformance
20:36 - Why you should position your business to grow during economic turmoil
21:33 - Why to think of failure as a learning experience and why failing is necessary to have exceptional returns
32:51 - The importance of people, plan, process, and perseverance in the success equation
35:30 - The importance of treating employees as owners and how Larry successfully aligned incentives
39:14 - Why being unconstrained from conventional thinking is so important
44:19 - Why long-term thinking has been so powerful for building conviction during economic downturns and how that long-term thinking has been vital to success
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.
Follow Larry Connor on LinkedIn.
Learn more about Larry Connor here.
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
7-Eleven
Toyota
Connect Invest
Miro
TastyTrade
Daloopa
The Bitcoin Way
Facet
Public
Fidelity
Fundrise
Onramp
SimpleMining
Bluehost
ReMarkable
Vanta
Shopify
HELP US OUT!
Help us reach new listeners by leaving us a rating and review on Spotify! 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
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 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 estate investment trust (REIT) industry. He did this by founding Equity Office Properties Trust in 1997, which became the largest office REIT in the United States. In 2007, he sold the company for a record-breaking $39 billion.
Just prior to passing away on May 18th, 2023, Sam had his final recorded interview with The Investor’s Podcast Network.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
07:38 - The story of Sam’s family escaping Poland in 1939 to head to the United States.
12:08 - Sam’s early entrepreneurial and real estate ventures.
28:15 - How Sam got the nickname as ‘The Grave Dancer’ within the real estate industry.
32:46 - Sam’s investment criteria when buying real estate.
33:36 - How Sam capitalized on finding bargains outside the real estate industry.
50:56 - An overview of Zell’s record-breaking deal in 2007.
59:12 - Sam’s critical insights into building a great culture.
01:06:54 - Sam’s key business principles that helped him become a billionaire.
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.
Sam’s book.
Related Episode: Listen to TIP552: Mastering The Art of Investing: A Deep Dive w/ Sam Zell, or watch the video.
Follow Clay on 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 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
7-Eleven
Toyota
Connect Invest
Miro
TastyTrade
Daloopa
The Bitcoin Way
Facet
Public
Fidelity
Fundrise
Onramp
SimpleMining
Bluehost
ReMarkable
Vanta
Shopify
HELP US OUT!
Help us reach new listeners by leaving us a rating and review on Spotify! 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
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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 -
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
12:37 - How private companies are outpacing public firms in Bitcoin holdings
14:53 - The future growth trajectory of business Bitcoin holdings through 2026
15:54 - Three key areas where Bitcoin adds value for businesses beyond treasury management
27:34 - River’s new service offering interest on FDIC-insured cash deposits
30:05 - What big banks may misunderstand in the coming Bitcoin bull cycle
32:12 - How Alex Leishman stays balanced and his personal hobbies outside of work
34:26 - Top advice for newcomers to the cryptocurrency space
35:55 - Strategies for managing the volatility of Bitcoin
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
Check out River’s Exchange Services.
River’s recent report on Corporate Bitcoin Adoption.
Alex on X (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?
Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
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
7-Eleven
Toyota
Connect Invest
Miro
TastyTrade
Daloopa
The Bitcoin Way
Facet
Public
Fidelity
Fundrise
Onramp
SimpleMining
Bluehost
ReMarkable
Vanta
Shopify
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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 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 LEARN:
00:00 - Intro
03:33 - How Jason Zweig tackled the “honor & burden” of revising The Intelligent Investor.
11:06 - How Ben Graham’s 4 core principles can help you to invest intelligently.
25:24 - What a sudden plunge in Japanese stocks shows about the craziness of markets.
27:56 - What Jason views as the most important paragraph ever written about investing.
32:42 - How Warren Buffett & Bill Miller profit from being “inversely” emotional.
33:57 - How regular investors can win by tuning out Wall Street’s propaganda.
39:15 - Why you must decide if you’re an “enterprising” or “defensive” investor.
44:40 - Why maintaining a “margin of safety” matters more than anything.
48:40 - Why Jason believes index funds should form the base of your portfolio.
52:52 -Why it’s so hard to pick the tiny minority of “superstocks.”
1:00:21 - What dooms the vast majority of fund managers to underperform.
1:14:33 - How Graham’s most successful investment violated his own principles.
1:33:01 - What life lessons Jason learned from Graham, Buffett, & Charlie Munger.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
Jason Zweig’s website.
Benjamin Graham’s The Intelligent Investor, revised and updated by Jason Zweig.
Jason Zweig’s book on neuroeconomics, Your Money and Your Brain.
Jason Zweig’s satirical survival guide to Wall Street, The Devil’s Financial Dictionary.
William Green’s previous podcast episode with Jason Zweig | YouTube Video.
William Green’s podcast episode with Christopher Begg | YouTube Video.
William Green’s podcast episode with Peter Keefe | YouTube Video.
William Green’s book, “Richer, Wiser, Happier” – read the reviews.
Follow William Green on X.
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?
Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
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
7-Eleven
Toyota
Connect Invest
Miro
TastyTrade
Daloopa
The Bitcoin Way
Facet
Public
Fidelity
Fundrise
Onramp
SimpleMining
Bluehost
ReMarkable
Vanta
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
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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 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 the collapse of Lehman Brothers.
12:13 - Derek’s advice to aspiring hedge fund managers.
14:30 - How Derek achieved a return of 186% in 2009.
14:30 - What led Derek to purchase General Growth Properties, whose stock increased by 20x in less than one year.
23:25 - Why Warren Buffett likes financial companies, especially the big banks.
27:38 - Why Derek puts his focus on financial companies.
33:36 - How banks can create a sustainable competitive advantage in their market.
36:08 - Why First Citizens Bancshares is Derek’s top position in his fund.
46:44 - An update on the current market conditions for banks.
50:21 - How a high inflation environment would impact banks.
52:53 - Why Derek is long Robinhood.
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.
Derek’s fund: Gator Capital.
Derek’s letters.
Related Episode: Listen to TIP634: Value Investing Fundametals w/ John Huber, or watch the video.
Follow Derek on Twitter.
Follow Clay on 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 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
7-Eleven
Toyota
Connect Invest
Miro
TastyTrade
Daloopa
The Bitcoin Way
Facet
Public
Fidelity
Fundrise
Onramp
SimpleMining
Bluehost
ReMarkable
Vanta
Shopify
HELP US OUT!
Help us reach new listeners by leaving us a rating and review on Spotify! 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
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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, 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 EPISODE YOU’LL LEARN:
00:00 - Intro
01:26 - Allen’s perspective on the Saifedean vs. Saylor debate regarding borrowing against Bitcoin.
05:55 - Why stablecoins may or may not be more risky than traditional bank accounts.
10:26 - How stablecoins might help in the expansion of fiat currencies globally.
14:46 - Technical risks that Allen is currently concerned about in the crypto space.
27:19 - Whether stablecoins require protocols like Tron or Solana for long-term functionality.
31:51 How institutional involvement is changing the crypto landscape, from custody to derivatives.
39:48 - Allen’s views on free speech, Nostr, and supporting technologies for Bitcoin.
45:48 - The significance of BNY Mellon’s custody services and the approval of derivatives for Bitcoin.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
Allen's (X) Twitter Account.
Allen on Nostr.
Allen’s book: Bitcoin Is Venice: Essays on the Past and Future of Capitalism.
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?
Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
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
7-Eleven
Toyota
Connect Invest
Miro
TastyTrade
Daloopa
The Bitcoin Way
Facet
Public
Fidelity
Fundrise
Onramp
SimpleMining
Bluehost
ReMarkable
Vanta
Shopify
HELP US OUT!
Help us reach new listeners by leaving us a rating and review on Spotify! 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
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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 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 many investing books as he used to.
16:05 - Why you should set up guardrails for yourself.
19:36 - Why you shouldn’t look at your track record more than once per year.
20:17 - Why you shouldn’t only have public equities in your portfolio.
31:23 - Why you should run your track record 1,000 times.
32:53 - How one could think about position sizing.
35:59 - What are the implicit assumptions?
45:43 - What Clay learned about investing.
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.
Stig’s blog post on his portfolio and track record since 2014.
Stig and Clay’s podcast episode on Stig’s return since 2014.
Criteria of companies in the UK that Stig is interested in buying.
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
7-Eleven
Toyota
Connect Invest
Miro
TastyTrade
Daloopa
The Bitcoin Way
Facet
Public
Fidelity
Fundrise
Onramp
SimpleMining
Bluehost
ReMarkable
Vanta
Shopify
HELP US OUT!
Help us reach new listeners by leaving us a rating and review on Spotify! 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
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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 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, providing strategic advice and analysis for major firms, financial markets, and government agencies.
IN THIS EPISODE YOU’LL LEARN:
01:58 - Why most stocks lose money in the long run.
10:26 - What level of asymmetry exists in the stock market.
12:47 - Why stocks continuously outperform treasury bills over long time periods.
15:02 - What the average drawdown for a high-performing stock is.
20:57 - The common characteristics of the biggest stock market winners.
34:28 - What it takes to be a stock picker in today’s market.
45:17 - What the best-performing stocks are since 1925.
51:48 - Whether there is skewness in international stocks to the same degree as US stocks.
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.
Hendrik’s most well-known paper, Do Stocks Outperform Treasury Bills?
Hendrik’s research.
Related Episode: Listen to TIP654: Investing Across the Lifecycle w/ Aswath Damodaran, or watch the video.
Related Episode: Listen to TIP543: 100 Baggers: Stocks that Return 100-1 w/ Chris Mayer, or watch the video.
Follow Clay on 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 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
7-Eleven
Toyota
Connect Invest
Miro
TastyTrade
Daloopa
The Bitcoin Way
Facet
Public
Fidelity
Fundrise
Onramp
SimpleMining
Bluehost
ReMarkable
Vanta
Shopify
HELP US OUT!
Help us reach new listeners by leaving us a rating and review on Spotify! 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
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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, 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 mining decentralization and why adoption has been slow.
14:52 - A fascinating story of how Jason Hughes hacked a Tesla in front of its Chief Technology Officer.
21:49 - How the Datum Protocol manages reward distribution among miners with different templates.
22:31 - How Ocean’s Datum Protocol enables decentralized block templates for both small and large miners.
41:36 - The challenges Ocean faces with large miners, especially regarding SOC2 compliance.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
Bitcoin Mechanic on X (Twitter), Nostr.
Jason Hughes on X (Twitter).
Ocean on Discord.
Ocean on Nostr.
Related Episode: Decentralizing Bitcoin Mining Pools with Bitcoin Mechanic.
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?
Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
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
7-Eleven
Toyota
Connect Invest
Miro
TastyTrade
Daloopa
The Bitcoin Way
Facet
Public
Fidelity
Fundrise
Onramp
SimpleMining
Bluehost
ReMarkable
Vanta
Shopify
HELP US OUT!
Help us reach new listeners by leaving us a rating and review on Spotify! 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
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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, 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 more!
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
03:07 - Why compounding can be found in all areas of life
10:01 - The importance of self-education after a formal education in the wealth-building process
13:03 - Valuable thinking tools that can help you optimize your decision-making and think at a higher level
18:26 - A breakdown of two of Guatam Baid's first principles of investing
21:39 - The importance of humility in investing and understanding whether you have an advantage or disadvantages
29:05 - Why living life on your principles has been such a valuable tool for Warren Buffett, and how you can utilize the framework in your own life
43:25 - How this book helped Clay understand the value of owning high-quality businesses even when they look expensive
52:12 - The importance of culture in the lens of long-term investing and quality businesses
1:02:16 - How to utilize base rates in investing to improve decision-making by looking at public data or looking at your successes and failures
1:05:45 - Why compounding social relationships, intellectual processes, and health are so crucial to living a fulfilling life
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.
Read The Joys Of Compounding.
Read Principles: Life and Work.
Read Selected Writings of Ralph Waldo Emerson.
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.
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
7-Eleven
Toyota
Connect Invest
Miro
TastyTrade
Daloopa
The Bitcoin Way
Facet
Public
Fidelity
Fundrise
Onramp
SimpleMining
Bluehost
ReMarkable
Vanta
Shopify
HELP US OUT!
Help us reach new listeners by leaving us a rating and review on Spotify! 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
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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 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 of investing. Warren Buffett has said, “When I see memos from Howard Marks in my mail, they’re the first thing I open and read. I always learn something.”
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
05:12 - How second-level thinking can improve our skills as investors.
10:54 - The most common reasons for a stock to be mispriced.
13:40 - Howard’s thoughts on the efficiency of markets.
18:26 - How Howard Marks thinks about risk.
28:25 - Ways in which we can recognize risk in the market.
50:31 - How to differentiate luck versus skill in investing.
01:10:55 - The importance of patient opportunism for investors like Pulak Prasad and Warren Buffett.
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.
Books mentioned: The Most Important Thing, The Joys of Compounding.
Related Episode: TIP545: The Third Sea Change Has Begun.
Related Episode: RWH002: Investing Wisely in an Uncertain World.
Mentioned Episode: TIP597: Darwin's Investing Lessons w/ Kyle Grieve.
Follow Kyle on Twitter.
Follow Clay on 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 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
7-Eleven
Toyota
Connect Invest
Miro
TastyTrade
Daloopa
The Bitcoin Way
Facet
Public
Fidelity
Fundrise
Onramp
SimpleMining
Bluehost
ReMarkable
Vanta
Shopify
HELP US OUT!
Help us reach new listeners by leaving us a rating and review on Spotify! 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
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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, 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 prerequisites for Bitcoin reaching $5M per coin.
16:06 - The impact of BlackRock’s 12-hour settlement window requirement for Coinbase.
21:41 - ESG trend changes driven by AI advancements.
24:36 - How SAB 121 requires banks to treat Bitcoin deposits as liabilities.
25:26 - The 1,250% risk weight requirement for Bitcoin under Basel III regulations.
30:37 - Why Silvergate’s bankruptcy may have been influenced by government actions.
34:38 - How stablecoins interact with traditional banking systems.
46:29 - Why Ethereum is currently facing a downward trend.
49:30 - The expansion of the M2 money supply and its implications for inflation.
BOOKS AND RESOURCES
America Hodl on Nostr .
Jeff Ross on Nostr.
Joe Carlasare on Twitter, Nostr.
NEW TO THE SHOW?
Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
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
7-Eleven
Toyota
Connect Invest
Miro
TastyTrade
Daloopa
The Bitcoin Way
Facet
Public
Fidelity
Fundrise
Onramp
SimpleMining
Bluehost
ReMarkable
Vanta
Shopify
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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, 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 - How Nomad Investment Partnership created their ground rules to succeed in the long term
05:37 - The rare and unconventional way that Nomad wanted to be evaluated by their partners
09:13 - Why inactivity only works with certain businesses, and NOT all businesses
13:48 - The extraordinary returns of Costco, Amazon, and Berkshire Hathaway since the depths of the GFC, and a great insight into what Nomad said about that particular time
15:26 - Why Nomad focused on the scaled economics shared business model
20:29 - How Nomad utilized the concept of a "cone of uncertainty" to better understand risk and help with position sizing
29:12 - Why a deep understanding of a business earlier than the market is so beneficial and allows you to have outsized position sizes that can continue growing at market-beating returns
31:46 - Why your next best investing opportunity might already be in your portfolio
40:41 - Specific questions to ask to help you utilize destination analysis for long-term holdings
43:03 - The four most powerful mistakes that Nick and Zak observed
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.
Read Nick and Zak's Adventures in Capitalism by The Rational Cloner.
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
7-Eleven
Toyota
Connect Invest
Miro
TastyTrade
Daloopa
The Bitcoin Way
Facet
Public
Fidelity
Fundrise
Onramp
SimpleMining
Bluehost
ReMarkable
Vanta
Shopify
HELP US OUT!
Help us reach new listeners by leaving us a rating and review on Spotify! 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
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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 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 investing legend David Swensen at Yale. He is the host of the popular podcast — Capital Allocators.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
02:04 - What has led to the growth in private equity over the past few decades?
06:39 - Why David Swensen referred to private equity as a superior form of capitalism.
08:47 - Why private equity has outperformed public equities as an industry.
14:19 - How the lock-up period in private equity impacts returns.
18:03 - Ted’s take on why private equity has been given a poor reputation.
28:34 - The importance of pricing to the seller in a private equity deal.
30:17 - How interest rate hikes have impacted private equity.
32:17 - An overview of KKR’s “perfect private equity deal.”
38:27 - An overview of Apollo’s purchase of Yahoo in 2021.
49:34 - An overview KPS Partners’ purchase of TaylorMade.
57:24 - What types of investors should consider an allocation to private equity?
59:18 - Ted’s portfolio allocation.
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.
Ted’s book: Private Equity Deals.
Ted’s book Capital Allocators.
Capital Allocators Website & Podcast.
Follow Ted on Twitter & LinkedIn.
Related Episode: TIP444: The Changing World of Endowments & ESG Investing w/ Ted Seides.
Mentioned Episode: TIP654: Investing Across the Lifecycle w/ Aswath Damodaran.
Follow Clay on 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 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
7-Eleven
Toyota
Connect Invest
Public
TastyTrade
Fundrise
Shopify
American Express
The Bitcoin Way
ReMarkable
Sound Advisory
Facet
SimpleMining
Bluehost
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
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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 -
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
05:04 - What motivated the creation of Cashu and its core value to the Bitcoin Lightning Network.
08:22 - How Cashu works on a basic level and its role in simplifying micropayments.
15:11 - How Cashu enhances privacy compared to other solutions within the Lightning Network.
22:26 - The challenges Cashu faces in driving user adoption and how they might be overcome.
22:49 - The difference between custodial and non-custodial Bitcoin solutions and why this matters.
30:13 - Why micropayments are more scalable with custodial solutions due to technical limitations.
32:31 - The role of decentralization in Cashu's future, especially given the involvement of custodians.
37:11 - How Cashu integrates with the Lightning Network to facilitate secure, private transactions.
48:40 - How Nostr can be used to prevent the centralization of DNS and what this means for Bitcoin.
54:17 - Technological innovations like atomic multi-hop payments and their significance.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
Calle's X (Twitter) Account.
Calle's Github.
Calle's Nostr.
Calle's Website.
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?
Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
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
7-Eleven
Toyota
Connect Invest
Miro
TastyTrade
Daloopa
The Bitcoin Way
Facet
Public
Fidelity
Fundrise
Onramp
SimpleMining
Bluehost
ReMarkable
Vanta
Shopify
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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 - Visa fler
