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

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Latest Episodes:

RWH058: Winning Ways w/ Bill Nygren Jun 22, 2025

Show notes

In this episode, William Green chats with investing legend Bill Nygren, who oversees about $25 billion at Harris Associates. Bill is the firm’s Chief Investment Officer for US Equities & co-manages two flagship mutual funds: Oakmark Select & Oakmark Fund. Here, he discusses the processes, principles, habits & mindset that have enabled him to beat the market over three decades.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

05:32 - How Bill Nygren became a contrarian bargain hunter.

18:05 - Why sports gambling companies often refuse to take his bets.

47:56 - What three qualities he seeks in any company.

01:00:05 - How he scored big on Amazon, Google, Apple & Netflix.

01:11:11 - Why he never relaxes his disciplined focus on valuation.

01:16:04 - What he learned from hedge fund star Michael Steinhardt.

01:24:47 - How Bill’s team performs “Devil’s Advocate Reviews” for each stock.

01:33:55 - Why he developed his “Mistake Management Protocol.”

01:46:51 - How to succeed without ruining your health or your family.

01:46:51 - Why he discourages people from entering the investing business.

01:50:46 - What you must sacrifice to achieve greatness.

01:59:08 - How to succeed by aligning yourself with top-decile people.

02:07:13 - Why value investing isn’t dead.

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.
Bill Nygren’s investment firm, Harris Associates.
Bill Nygren’s funds, Oakmark Select & Oakmark Fund.
William Green’s book, “The Great Minds of Investing.”
William Green’s podcast interview with Christopher Begg.
William Green’s podcast interview with Ray Dalio.
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?

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!

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

TIP731: Owning Best-in-Class Businesses w/ Joseph Shaposhnik Jun 20, 2025

Show notes

On today’s episode, Clay is joined by Joseph Shaposhnik to discuss the launch of his new ETF, Rainwater Equity. The Rainwater Equity ETF just launched on June 18th, 2025, under the ticker RW, and its objective is to compound capital at an above-average rate by investing in publicly listed recurring revenue businesses.

The fund Joseph managed at his previous firm compounded at 16.7% since 2015, versus the S&P 500’s 13.1% over that same time period. It was also the top-performing fund out of 343 in its US Large Cap Core Equity category by Nasdaq eVestment.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:39 - Joseph’s lessons from spending a day with Peter Lynch.

12:09 - Why the active management industry is broken and how Joseph has set out to fix it.

22:12 - Why Bill Miller invested in Joseph’s new ETF.

28:25 - Why recurring revenue is the ultimate business model.

40:11 - Whether any of the Magnificent 7 companies fit into Joseph’s recurring revenue framework.

46:35 - The role that valuation plays in Joseph’s quality investing framework.

55:30 - Joseph’s top stock pick to hold for the next 20 years.

01:03:00 - Why Joseph is attracted to the aerospace aftermarket industry.

01:08:09 - Why Joseph chose the ETF structure over the mutual fund.

01:10:53 - How Joseph determined the appropriate position sizing for his fund.

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.
Related Episode: TIP622: Finding Certainty in an Uncertain World w/ Joseph Shaposhnik.
Related Episode: TIP522: Unconventional Wisdom from the Greatest Minds in Investing w/ Joseph Shaposhnik.
Follow Joseph on LinkedIn & X.
Follow Clay on ⁠⁠⁠LinkedIn⁠⁠⁠ & ⁠⁠⁠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?

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!

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://premium.theinvestorspodcast.com/

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

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

BTC239: Bitcoin, Psychology & the Return of Meaning w/ Seb Bunney (Bitcoin Podcast) Jun 18, 2025

Show notes

Seb and Preston explore the hidden emotional and societal costs of fiat currency, how Bitcoin changes our perception of value, and why money is more than just economics—it's identity.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:28 - The emotional toll of living within a fiat monetary system

10:04 - How Bitcoin changes the way we express values through money

12:55 - The real-life shifts that occur when someone adopts low time preference

15:37 - How hard money can enable authentic altruism and creativity

19:11 - How broken money disrupts psychological growth through Maslow’s hierarchy

20:24 - Why fiat incentives fuel fear, narrow focus, and societal disconnection

22:41 - The impact of viable saving on emotional and creative well-being

25:45 - Why fiat may be driving an identity crisis and inauthentic life paths

33:22 - What Bitcoin reveals about curiosity and intellectual integrity

41:05 - How note-taking and integration fuel personal and intellectual growth

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

BOOKS AND RESOURCES

Seb’s book: The Hidden Cost of Money.
Seb's Blog: Seb Bunney.
Related book: Fiat Food.
Related Episode: The Hidden Cost of Money (BTC160).
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

TIP730: Richer, Wiser, Happier, Q2 2025 w/ Stig Brodersen & William Green Jun 15, 2025

Show notes

On today’s show, Stig Brodersen talks with co-host William Green, the author of “Richer, Wiser, Happier.” In their quest for meaningful relationships and being the best version of themselves, they discuss what has made them Richer, Wiser, or Happier in the past quarter. You’re invited to join them on their journey. IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

00:07:45 - Why you will waste years if you can’t waste hours

00:08:04 - The power of (not) structuring your day

00:13:53 - What you can clone from an optimal life design

00:59:46 - What William and Stig have read the last quarter that made them Richer, Wiser, and Happier

01:01:55 - How to have work-play integration rather than a work-life balance

01:03:55 - Why what is important starts and ends with quality

01:22:13 - Why the best things in life come from compounding

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.
William Green’s book Richer, Wiser, Happier – Read reviews of this book.
Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q1 2025.
Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q4 2024
Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q3 2024.
Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q1 2024.
Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q3 2023.
Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q2 2023.
Simon Singh’s book, Fermat's Last Theorem – Read reviews of this book.
David Hawkins’ book, Letting Go –Read reviews of this book.
Pico Iyer’s book, Aflame – Read reviews of this book.
Tara Springett’s book, The Stairway to Heaven – Read reviews of this book.
Robert Caro’s book, Working - Read reviews of this book.
Robert Gottlieb’s documentary, Turn Every Page.
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:

• SimpleMining

• Hardblock

• AnchorWatch

• Unchained

• Vanta

• Human Rights Foundation

• Fundrise

• reMarkable

• Onramp

• Netsuite

• Shopify

HELP US OUT!

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

TIP729: Mastering the Capital Cycle Jun 13, 2025

Show notes

In this episode, Clay explores the core ideas behind Capital Returns by Edward Chancellor and Marathon Asset Management. Based on decades of investing experience, the book uncovers the capital cycle framework, which reveals how capital flows, supply dynamics, and managerial incentives drive long-term investment outcomes. Whether you're a value investor, a portfolio manager, or simply curious about market cycles, this episode offers guidance for understanding the boom and bust nature of cyclical industries.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:31 - How the capital cycle explains boom and bust industry dynamics.

07:03 - Why tracking supply is often more useful than forecasting demand.

16:20 - How capital discipline separates great managers from average ones.

05:07 - Why excess investment leads to lower future returns.

30:38 - Why cyclical industries can offer high-return opportunities.

41:50 - How incentives and ownership structures impact corporate decision-making.

49:10 - How low interest rates distort creative destruction and capital efficiency.

53:25 - Why mean reversion remains a powerful force in markets.

58:35 - How to spot red flags near capital cycle peaks.

01:03:55 - Why flexible thinking is essential for long-term investing success.

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.
Edward Chancellor’s book: Capital Returns.
Gautam Baid’s book: The Joys Of Compounding.
Related Episode: TIP505: The Price of Time w/ Edward Chancellor.
Mentioned Episode: TIP727: 7 Powers by Hamilton Helmer.
Follow Clay on ⁠⁠LinkedIn⁠⁠ & ⁠⁠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?

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!

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://premium.theinvestorspodcast.com/

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

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

BTC238: Bitcoin 101 w/ Michael Schmid (Bitcoin Podcast) Jun 11, 2025

Show notes

Michael and Preston explore Bitcoin's foundational principles, covering digital scarcity, mining incentives, node infrastructure, and the importance of self-custody versus third-party management.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

12:13 - How Bitcoin prevents government-led currency debasement

19:14 - Why block reorganizations occur and how they're resolved

23:11 - The mechanics of block creation and transaction verification

28:55 - What makes Bitcoin a secure and decentralized timekeeper

31:13 - The economic incentives behind Bitcoin mining

33:54- The role of transaction fees as block subsidies decline

37:01 - How Bitcoin's security model addresses hack concerns

41:05 - How self-custody empowers users and mitigates risks

50:02 - Differences between running a node and mining

1:00:04 - Innovations in node infrastructure from the 256 Foundation

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

BOOKS AND RESOURCES

Michael’s X Account.
Website: Nakamoto Heating Solutions.
Website: 256 foundation.
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

TIP728: Mastermind Q2, 2025: Microsoft, Block, Devon Energy, Adyen Jun 08, 2025

Show notes

In today's episode, Stig Brodersen is talking stocks with Tobias Carlisle and Hari Ramachandra. Stig’s pick is Microsoft, the world’s biggest market cap company for good reason. Tobias is pitching Devon Energy, an oil and gas producer with a big upside if you’re right about the timing. Hari’s stocks of choice are Adyen and Block, two fast-growing companies with stronger moats that meet the eye.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:51 - Why Hari is bullish on Block and Adyen (Ticker on NYSE: XYZ and on Euronext: ADYEN).

12:48 - The bear case for Block and Adyen, including valuation and disruption.

24:22 - Stig’s bull case is for Microsoft (Ticker on NASDAQ: MSFT).

44:55 - The bear case for Microsoft, including the rich valuation.

56:56 - Why Toby is bullish on Devon Energy (Ticker on NYSE: DVN).

01:05:31 - The bear case of Devon Energy, including the debt level and share issuance.

01:27:06 - What the TIP Mastermind Community is and how we’re forming meaningful relationships.

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.
Stig Brodersen’s Portfolio and Track record.
Listen to Mastermind Discussion Q1, 2025 or watch thevideo.
Listen to Mastermind Discussion Q4, 2024 or watch the video.
Listen to Mastermind Discussion Q3, 2024 or watch the video.
Listen to Mastermind Discussion Q2, 2024 or watch the video.
Tune in to the Mastermind Discussion Q1, 2024 or watch the video.
Listen to Mastermind Discussion Q4, 2023or watch the video.
Tune in to the Mastermind Discussion Q3, 2023 or watch the video.
Listen to Mastermind Discussion Q2, 2023 or watch the video.
Bill Gates’ autobiography, Source Code – read reviews of this book.
Stig and Preston book review of Paul Allen’s book, Idea Man.
Tobias Carlisle's podcast, The Acquirers Podcast.
Tobias Carlisle's ETF, ZIG.
Tobias Carlisle's ETF, Deep.
Tobias Carlisle's book, The Acquirer's Multiple – read reviews of this book.
Tobias Carlisle's Acquirer's Multiple stock screener: AcquirersMultiple.com
Tweet directly to Tobias Carlisle: @Greenbackd.
Tweet directly to Hari Ramachandra:@harirama.
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

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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://premium.theinvestorspodcast.com/

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

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

TIP727: 7 Powers by Hamilton Helmer Jun 06, 2025

Show notes

In this episode, Clay explores Hamilton Helmer’s 7 Powers framework, breaking down each of the seven sources of enduring competitive advantage. While companies all over the world offer benefits and value to society at large, few have barriers in place that prevent competitors from easily replicating those advantages. Whether you’re an investor or business operator, this episode is an essential listen to understand the critical ingredients for long-term success in business.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:34 - What it means for a company to have Power.

07:04 - The power of scale economies.

12:12 - Why network effects are one of the best competitive advantages a business can have.

18:05 - Why counter-positioning is Hamilton Helmer’s favorite Power.

30:19 - The types of switching costs that can keep customers locked in for years.

38:24 - Why customers are willing to consistently pay up for a great brand name.

51:24 - How companies can capture a cornered resource that even well-funded competitors are unable to replicate.

56:46 - Why process power is the rarest of the all the powers.

01:03:00 - A case study on Netflix and how they built multiple Powers outlined in the book.

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.
Hamilton Helmer’s book: 7 Powers.
Mentioned Episode: TIP600: Business Durability and Strategy Masterclass w/ Hamilton Helmer.
Follow Clay on ⁠LinkedIn⁠ & ⁠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?

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!

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://premium.theinvestorspodcast.com/

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

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

BTC237: Bitcoin & the Insurance Industry w/ Garrett Johnston (Bitcoin Podcast) Jun 04, 2025

Show notes

Garrett Johnston shares why Bitcoin—not crypto—should be the foundation for insurance innovation. We explore regulatory friction, risk evolution, and strategic adoption for carriers and corporates.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

04:57 - How digital asset risk profiles evolve as companies scale

16:09 - The case for Bitcoin in insurance company treasuries

16:15 - Why Bitcoin enhances risk-adjusted returns in institutional portfolios

21:39 - Why current regulatory frameworks hinder BTC adoption

21:54 - How NAIC rules classify BTC as a non-admitted asset

22:07 - The importance of state-by-state education and reform

30:28 - Gaps in current insurance coverage for Bitcoin-native businesses

45:03 -Why “Bitcoin not crypto” is critical in traditional insurance circles

47:12 - ESG misconceptions about Bitcoin in insurance contexts

48:26 - Game theory behind state-level regulatory adoption (e.g., NH SBR)

49:39 - AI’s emerging role in insurance and supply chain risk analysis

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

BOOKS AND RESOURCES

Garrett's ⁠X Account⁠.
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

TIP726: From Obscurity to Opportunity: Jon Cukierwar’s Investment Edge Jun 01, 2025

Show notes

On today’s episode, Kyle Grieve chats with Jon Cukierwar about his unique global investing approach focused on undiscovered companies. They delve into Jon’s high-conviction strategy, his in-depth on-the-ground research process, and how he uncovers overlooked opportunities by combining valuation, quality, and growth.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:02 - Lessons Jon learned working for legend Bob Robotti

07:19 - Why Jon favours high-quality, growing businesses

17:26 - How Jon counters bias when meeting charismatic CEOs

25:50 - Why local investor networks unlock global insights

36:23 - Why Jon prioritizes owners’ earnings over net income

37:41 - The three essential traits Jon demands in investment and what makes an investment a “no-brainer” for Jon

39:47 - Why holding winners is harder than it seems

53:57 - Why Jon leans toward “boring” low-tech businesses

1:00:30 - What traits Jon values most in company leadership

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.
Read Jon’s shareholder letters here.
Read Jon’s research 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.