The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network

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TIP749: Unlocking Hidden Investing Secrets From Basic Science w/ Kyle Grieve Aug 31, 2025

Show notes

On today’s episode, Kyle Grieve discusses how mental models from physics, chemistry, and biology can give investors and business leaders sharper decision-making tools. He’ll explore how applying these frameworks helps to identify opportunities, avoid risks, and build lasting advantages.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro 02:06 - How relativity helps investors see opportunities from different perspectives. 07:33 - Why inertia reveals which businesses stay great or stuck over decades. 09:29 - How momentum creates powerful flywheels in business and investing. 23:22 - When leverage accelerates growth or dangerously magnifies risk. 29:13 - How catalysts can rapidly unlock an investing thesis. 35:50 - Why ecosystems multiply value from a single input change. 41:52 - How niche strategies create outsized business advantages. 52:50 - Why honest versus dishonest signals matter for investors. 01:00:19 - How misaligned incentives quietly increase investment risk.

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

BOOKS AND RESOURCES

Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Buy a copy of The Great Mental Models Part II: Physics, Chemistry and Biology 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?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Check out our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠We Study Billionaires Starter Packs⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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Enjoy exclusive perks from our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠favorite Apps and Services⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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TIP748: The Netflix Playbook: Fewer Rules, Greater Results w/ Kyle Grieve Aug 29, 2025

Show notes

On today’s episode, Kyle Grieve discusses the radical culture that helped Netflix dominate Blockbuster and achieve massive long-term success. He explores lessons on talent density, candor, feedback, freedom, and responsibility that reveal how culture can become a company’s greatest competitive moat.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro 02:54 - Why fewer rules can unlock a company’s peak performance. 04:58 - The cultural failures that doomed Blockbuster against Netflix. 08:54 - How talent density drives innovation and rapid productivity gains. 10:40 - Why subtraction sometimes creates stronger, higher-performing teams. 15:14 - How candor accelerates decision-making and organizational efficiency. 25:02 - Netflix’s 4A framework for delivering and receiving feedback. 34:21 - Why “rockstar pay” beats incentive bonuses for top talent. 55:00 - How sunshining mistakes builds trust and stronger organizations. 58:02 - The Keeper Test for retaining only your best performers. 01:04:19 - Why leading with context—not control—fuels lasting innovation.

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

BOOKS AND RESOURCES

Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Buy a copy of No Rules Rules here.
Related episode: TIP744: Hidden Monopolies w/ Kyle Grieve.
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?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Check out our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠We Study Billionaires Starter Packs⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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.
Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

SPONSORS

Support our free podcast by supporting our ⁠sponsors⁠:

HELP US OUT!

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

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

BTC249: The Convergence of Bitcoin, AI, and Energy w/ Rod Roudi (Bitcoin Podcast) Aug 27, 2025

Show notes

Rod and Preston discuss Bitcoin’s rapid innovation, from ARK protocol transactions to new mining hardware. They examine custody solutions for Bitcoin treasuries, balancing institutional needs with community values, and preview the Custody & Treasury Summit and “Imagine If” event.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:01 - The latest Bitcoin innovations, including ARK protocol’s first transaction.

04:00 - Block’s new modular mining hardware and its market impact.

10:03 - Why custody solutions are critical for Bitcoin treasuries.

13:15 - The challenges and opportunities of institutional Bitcoin adoption.

15:05 - How Rod and Preston see Bitcoin custody evolving in the coming years.

23:02 - Insights into Bitcoin Park’s expansion from Nashville to Austin.

28:55 - The goals of the Custody & Treasury Summit and “Imagine If” summit.

33:10 - The vision for Nashville as a hub for Bitcoin, AI, and energy convergence.

36:05 - How AI tools are transforming workflows, events, and productivity.

45:20 - Plans for future summits and a 12-city tour to advance Bitcoin conversations.

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

BOOKS AND RESOURCES

Learn about the upcoming event at Bitcoin Park: Bitcoin Custody and Treasury Summit at Bitcoin Park.
Read about the details on the first-ever Bitcoin, AI, and Energy convergence event:Imagine IF (Bitcoin, AI, and Energy Summit) information.
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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠.
Learn how to better start, manage, and grow your business with the⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠.

SPONSORS
Support our free podcast by supporting our sponsors:

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

TIP747: John Neff: The Value Investor Who Quietly CRUSHED the S&P 500 w/ Kyle Grieve Aug 24, 2025

Show notes

On today’s episode, Kyle Grieve discusses legendary value investor John Neff, one of the most underrated investors in value investing, who quietly outperformed the S&P 500 for decades. You’ll learn more about Neff’s contrarian mindset, his focus on low PE stocks, and his disciplined yet unconventional approach, which shaped one of the most impressive track records in investing history.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:04 – The unconventional mindset that made John Neff a true contrarian investor

03:41 – Why “boring” businesses can be surprisingly beautiful wealth builders

04:18 – How lessons from his father and mentors shaped Neff’s investing philosophy

06:21 – The hidden danger of investment committees that drag down star performers

10:58 – The two simple categories Neff used to organize his view of the stock market

17:11 – Why Neff’s strategy leaned into dividends—and how that powered his outperformance

19:40 – The overlooked way he measured actual business value against the market

20:20 – How Neff found profits hiding in slow growers, cyclicals, and even high PE stocks

56:51 – The surprising blind spot of value investors who ignore compounders

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

BOOKS AND RESOURCES

Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Buy a copy of John Neff on Investing here.
Buy a copy of Investing For Growth 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?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Check out our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠We Study Billionaires Starter Packs⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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Try our tool for picking stock winners and managing our portfolios: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Finance Tool⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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SPONSORS Support our free podcast by supporting our sponsors:

HELP US OUT!

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

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

TIP746: ASML: Europe's Tech Monopoly Aug 22, 2025

Show notes

In this episode, Clay unpacks the extraordinary rise of ASML — a little-known Dutch company that quietly became the most important player in global technology. Since its IPO in 1995, ASML has compounded at 20% annually.

ASML holds one of the most powerful monopolies on earth as it’s the sole manufacturer of EUV lithography machines, which make the world’s most advanced semiconductor chips. Without ASML, companies like Apple, NVIDIA, and TSMC couldn’t power iPhones, AI data centers, or the modern digital economy.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro 04:56 - How ASML grew from a Philips spinoff into Europe’s most important tech company. 13:31 - How ASML’s partnership with TSMC shaped the global semiconductor industry. 32:16 - Why ASML holds a near-monopoly on EUV lithography machines. 41:01 - Why the geopolitical tension between the US and China place ASML at the center of technology power struggles. 53:30 - How investors can view ASML’s growth, risks, and future opportunities. 01:00:23 - What makes ASML’s moat nearly impossible for competitors to replicate. 01:05:08 - The dual leadership that propelled ASML’s rise and built a culture of relentless focus. And so much more!

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

BOOKS AND RESOURCES

Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Marc Hijink’s book: Focus: The ASML Way.
Related Episode TIP727: 7 Powers by Hamilton Helmer.
Related Episode TIVP024: TSMC: The Most Important Business in the World?.
Follow Clay on ⁠⁠X⁠⁠ and ⁠⁠LinkedIn⁠⁠.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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NEW TO THE SHOW?

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BTC248: Bitcoin’s Institutional Wave w/ Willy Woo, Max Kei, Efrat Fenigson, and Preston Pysh at Baltic Honeybadger (Bitcoin Podcast) Aug 20, 2025

Show notes

A sharp panel debates Bitcoin’s “institutional phase”: BlackRock’s ETF as catalyst, SEC policy shifts on in-kind redemptions, and the boom in corporate treasury strategies.

They probe Coinbase custody concentration, nationalization risks, Tether’s role, and why self-custody remains the antidote. AI’s influence on education and CBDCs vs private stablecoins round out a high-signal hour.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:11 - Why BlackRock’s spot ETF marked a cultural and capital tipping point.

05:31 - How SEC limits on in-kind redemptions and their reversal, shape market integrity.

08:56 - The difference between MicroStrategy’s preferred stock model vs convertible debt.

10:14 - Why concentrated Coinbase custody introduces fragility and what decentralizes it.

12:10 - The political “nationalization” risk and how institutions could be rugged.

17:45 - The case for denominating liabilities in fiat while stacking BTC.

19:50 - Pitfalls of copycat treasury companies timing the market (e.g., short-dated debt).

25:53 - How AI-driven discourse (e.g., Grok) accelerates Bitcoin education.

29:10 - Why private stablecoins (e.g., Tether) may outcompete CBDCs globally.

37:37 - The timeless lesson: make Bitcoin “un-ruggable” via self-custody.

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

BOOKS AND RESOURCES

P2P Bitcoin Trading Platform: Hodl Hodl.
Event details: Baltic Honeybadger Conference.
Conference sponsor: Debifi.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠.
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SPONSORS

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RWH060: What Buffett, Munger & Bill Miller Taught Me w/ Robert Hagstrom Aug 17, 2025

Show notes

In this episode, William Green chats with Robert Hagstrom, Chief Investment Officer & Senior Portfolio Manager at Equity Compass. Robert is the author of a classic book, “The Warren Buffett Way,” which lays out the principles that made Buffett the greatest investor of all. Here, Robert shares life-changing lessons he learned from Buffett & two other icons: Charlie Munger & Bill Miller. He also explains why a focused, low-turnover portfolio is a brilliant but difficult strategy.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro 04:39 - How Robert Hagstrom became a multidisciplinary thinker. 08:09 - How to think better & invest better by tuning out the noise. 26:01 - What mistake Warren Buffett made most frequently. 35:30 - Why AI falls short when it comes to investment decisions. 35:30 - Why Nvidia is Robert’s biggest holding. 01:04:49 - How Miller endured & recovered from a devastating mistake. 01:14:43 - What insights led Bill Miller to make billions in Amazon & Bitcoin. 01:32:04 - Why it’s smart but really hard to own a concentrated portfolio. 01:34:29 - Why Robert views Modern Portfolio Theory with disdain. 01:42:23 - What advice Robert received from investing giant Bill Ruane. 01:48:06 - Why you should be deeply wary of investing in private equity. 02:04:04 - What life lesson Robert has learned from Buffett.

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

BOOKS AND RESOURCES

Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more ⁠⁠⁠⁠here⁠⁠⁠⁠.
Join the exclusive ⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Robert Hagstrom’s investment firm, Equity Compass Investment Management.
Robert Hagstrom's books: The Warren Buffett Way, The Warren Buffett Portfolio, Investing: The Last Liberal Art.
Mortimer Adler's How to Read a Book.
Louis Menand's The Metaphysical Club.
William Green’s podcast interview with Bill Miller.
William Green’s podcast interview with Bill Nygren.
William Green’s book, “Richer, Wiser, Happier” – ⁠⁠read the reviews of this book⁠⁠.
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?

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Browse through all our episodes (complete with transcripts) ⁠⁠⁠⁠here⁠⁠⁠⁠.
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Support our show by becoming a premium member! ⁠⁠⁠https://theinvestorspodcastnetwork.supportingcast.fm⁠⁠⁠

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

TIP745: Best Quality Stock Idea Q3 2025 w/ Clay Finck Aug 15, 2025

Show notes

On today’s episode, Clay Finck breaks down his best quality stock idea for Q3 2025: Amazon.

Clay explores how Amazon has evolved from a low-margin online retailer into a diversified, high-margin tech platform. He also makes the case as to why Big Tech may be systemically undervalued, providing a unique opportunity for investors willing to ride out the higher levels of stock price volatility.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro 03:02 - Why Big Tech, despite its size, may be systemically undervalued. 15:16 - How Amazon evolved from a low-margin online retailer into a high-margin tech platform. 25:11 - The three megatrends Amazon is positioned to benefit from. 29:17 - A breakdown of Amazon’s four main business segments: Retail, AWS, Advertising, and Prime. 50:02 - Amazon’s key competitive advantages and culture of reinvention. 55:07 - How we view Amazon’s valuation today. And so much more!

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

BOOKS AND RESOURCES

Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
MBI Deep Dives: ⁠Amazon⁠.
The Intrinsic Value Podcast ⁠episode⁠ on Amazon.
Daniel’s ⁠model⁠ for Amazon.
⁠The Systemic Undervaluation of Big Tech⁠.
Mentioned Episode ⁠TIP727: 7 Powers by Hamilton Helmer⁠.
Related Episode ⁠TIP722: Best Quality Idea Q2 2025⁠.
Related Episode ⁠TIP698: Best Quality Idea Q1 2025⁠.
Related Episode ⁠TIP675: Best Quality Idea Q4 2024.
Related Episode ⁠TIP652: Best Quality Idea Q3 2024.
Follow Clay on ⁠X⁠ 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.

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

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BTC247: Bitcoin's evolution with Traditional Finance w/ Jon Melton (Bitcoin Podcast) Aug 13, 2025

Show notes

Preston sits down with Jon Melton to explore his shift from Morgan Stanley to Bitcoin, insights on Silvergate Bank’s crypto strategy, and the future of Bitcoin-backed finance.

They delve into lending models, the impact of regulation, and how Jon sees banks engaging with digital assets going forward.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

04:31 - How Jon transitioned from Morgan Stanley to the Bitcoin world.

06:32 - The impact of Wences Casares on Jon’s Bitcoin conviction.

08:43 - What made Zappo a pioneer in Bitcoin custody.

09:42 - Silvergate Bank’s unique approach to cryptocurrency banking.

14:50 - Reasons behind Silvergate’s decision to wind down operations.

20:09 - The importance of over-collateralization in Bitcoin lending.

23:10 - Why Unchained avoids rehypothecation in its lending model.

27:25 - How Bitcoin loans might integrate with real estate in the future.

33:38 - The Federal Reserve vs. Treasury Department on stablecoin policy.

37:49 - Why Jon remains bullish on Bitcoin and its role in future finance.

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

BOOKS AND RESOURCES

Website: Unchained Capital.
Related Article: Revisiting Unchained’s Core Lending Principles by Jon Melton.
Related article: Core Lending Principles.
Related article: The Plot to Destroy Silvergate by Nic Carter.
Related Video: Banking, Crypto, and an Upcoming Regulatory Overhaul with Caitlin Long and John Maxfield.
Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠.

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

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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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠.
Learn how to better start, manage, and grow your business with the⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠.

SPONSORS

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

TIP744: Hidden Monopolies w/ Kyle Grieve Aug 10, 2025

Show notes

On today’s episode, Kyle Grieve discusses a thought-provoking framework that redefines competitive advantage through the lens of customer loyalty. Kyle breaks down the five types of customer loyalty moats, introduces the Moat Strength Index (MSI), and explains how investors can use this approach to measure, monitor, and deepen their conviction in high-quality businesses.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:45 – Why scale effects are ineffective against disruption via innovation

06:22 – Why having high customer loyalty is so powerful as an advantage vs competitors

10:01 – The five customer loyalty moats you must know

17:15 – Why ecosystem moats are so hard to build, but generate significant customer loyalty

18:53 – How platform moats generate powerful customer loyalty between multiple parties

20:08 – How can we objectively measure a company's moat using customer loyalty advantages

23:09 – The nine failures in using retention-like KPI’s

25:31 – The three barriers that create customer loyalty

26:57 – Why the moat score index is such a handy tool for measuring moat

47:17 – How customer loyalty moats can be disrupted

And so much more!

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

BOOKS AND RESOURCES

Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Buy a copy of Hidden Monopolies here.
Listen to TIP694 The Scuttlebutt Edge 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.

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