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

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Latest Episodes:

TIP654: Investing Across the Life Cycle w/ Aswath Damodaran Aug 23, 2024

Show notes

On today’s episode, Clay Finck is joined by Aswath Damodaran to discuss his new book, The Corporate Life Cycle.

Aswath Damodaran is a professor at NYU of corporate finance and valuation and has taught thousands of students how to value companies and pick stocks. He has written numerous books on valuation and has also made all of his university courses available online for free. Aswath is one of the clearest teachers of finance and investing in the industry.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:48 - What the corporate life cycle is and why it’s important.

01:48 - Why value investors should be open to investing at different points in the life cycle.

09:32 - Why the job of management is to maximize shareholder value.

17:21 - The difference in returns between value and growth investing.

27:44 - How the story and narrative around Tesla has changed over the past decade.

43:02 - How management’s skillset needs to change throughout the corporate life cycle.

50:41 - How companies should handle the decline phase of the life cycle.

58:23 - Why Aswath is against concentrating his portfolio.

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 Communityto engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Check out Aswath’s new book — The Corporate Life Cycle.
Check out Aswath’s Website.
Check out Aswath’s YouTube Channel.
Mentioned Episode: WSB508: Buffett's Purchase of TSM & Meta "Doomsday" Analysis, or watch the video.
Related Episode: WSB577: Valuation Masterclass w/ Aswath Damodaran, or watch the video.
Related Episode: RWH005: Meet the Master w/ Aswath Damodaran, or watch the video.
Follow Aswath 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:

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

BTC196: Bitcoin-powered Banking at Fold w/ Will Reeves (Bitcoin Podcast) Aug 21, 2024

Show notes

In this episode, we explore Will Reeves' Bitcoin journey and how it led to the creation of Fold, a company that has evolved from offering Bitcoin rewards through gift card purchases to becoming a comprehensive financial services app. We also discuss Fold’s recent decision to go public, the company's long-term vision as a Bitcoin-powered bank, and the expansion of its services, including credit, lending, and insurance. Additionally, Will shares insights into Fold's treasury management, partnerships, and the global adoption of Bitcoin.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

07:55 - Will Reeves’ background and the defining moment that led him to Bitcoin.

09:35 - Key inflection points in Fold’s evolution from a Bitcoin rewards platform to a full-fledged financial services app.

14:45 - The "flywheel effect" of increasing Bitcoin reserves and its impact on Fold’s future growth.30:13 - The toughest challenges Fold faced during its transition.

16:57 - Insights into Fold’s decision to go public and expectations from the public markets.23:32 - Fold’s vision of becoming a Bitcoin-powered bank and how they plan to redefine banking.

19:59 - How Fold’s Bitcoin reserve factors into the company’s financial strategy.

24:37 - How user feedback drives Fold’s product development cycle.

25:48 - Fold’s plans for expanding into credit, lending, and insurance.

27:52 - Trends in how Fold users are utilizing their Bitcoin rewards.

31:31 - Fold’s global expansion plans and how the company fits into the international financial landscape.

43:21 - The impact of partnerships with Visa, BitGo, and Marqeta on Fold’s growth.

BOOKS AND RESOURCES

Try the Fold App.
Will Reeves' X (Twitter) Account.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Communityto 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:

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

TIP653: Track Record and Risk w/ Guy Spier Aug 18, 2024

Show notes

In this episode, Stig Brodersen talks with Guy Spier about how he has achieved his impressive track record and whether you can adjust a track record for luck. Since 1997, Guy Spier’s fund has performed 9.3% vs. 8.7% annually for the S&P500.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:05 - What we can learn from royal families about moats in business.

26:43 - How Guy Spier’s track record would look if we adjusted to luck.

40:20 - If Guy would ever stop managing money.

49:49 - How to think about risk in your portfolio.

52:31 - Why it’s risky not to take risks.

56:40 - Why Guy wants to be truthful and honest and not present himself in the best possible light.

1:14:31 - How to think about position sizing.

1:21:53 - What is VALUEx?

1:37:23 - How Guy feels about being famous in the value investing community.

1:55:46 - How to live a life with givers, matchers, and takers.

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

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Communityto engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Stig’s interview with Guy Spier about investing and life | YouTube Video.
Stig and Preston’s interview with Guy Spier on his book, The Education of a Value Investor | YouTube Video.
Stig and Preston’s interview with Guy Spier about his lunch with Warren Buffett | YouTube Video.
Guy Spier’s book, The Education of a Value Investor – read reviews of the book.
Subscribe to Guy Spier’s Free Newsletter.
Guy Spier’s podcast and website.
Adam Grant’s book, Giver and Take – read reviews of this book.
Learn more aboutValueX in Dubai November 7-9.
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:

HELP US OUT!

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

TIP652: Best Quality Idea Q3 2024 w/ Clay Finck & Kyle Grieve Aug 16, 2024

Show notes

On today’s episode, Clay and Kyle give an overview of their best quality stock idea for Q3 2024. This quarter, they discuss Old Dominion Freight Line.

Over the past 20 years, Old Dominion has been one of the best performing stocks in the market. This seemingly boring best-in-class trucking company outperformed well-known companies like Amazon, Costco, and Microsoft. Tune into today’s episode to hear Clay and Kyle’s thoughts on Old Dominion’s business and what the prospective returns might look like going forward.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:14 - What is important to know about Old Dominion’s history going back to the Great Depression?

21:06 - An overview of Old Dominion’s business model and competitive advantages.

21:06 - The development of the LTL trucking industry over the past 20 years.

41:53 - Why Old Dominion Freight Line has similar competitive advantages to Copart.

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 Communityto engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
The Direction of the Moat by Eagle Point Capital.
Books mentioned: Helping the World Keep Promises, Junk to Gold, 7 Powers.
Related Episode: Listen to TIP604: Best Quality Idea Q1 2024 w/ Clay Finck & Kyle Grieve, or watch the video.
Related Episode: Listen to TIP627: Best Quality Idea Q2 2024 w/ Clay Finck & Kyle Grieve, or watch the video.
Related Episode: Listen to TIP587: Dino Polska: A Polish Compounder w/ Clay Finck & Kyle Grieve, or watch the video.
Episode Mentioned: TIP543: 100 Baggers w/ Chris Mayer.
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:

HELP US OUT!

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

BTC195: Making THE Bitcoin Movie w/ Kelly and Brian Estes (Bitcoin Podcast) Aug 14, 2024

Show notes

Brian and Kelly Estes discuss their newly released documentary, "God Bless Bitcoin." The conversation covers the overwhelming positive response to the film, the inspiration behind its creation, and how it addresses the intersection of faith and finance.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

04:37 - What inspired Brian and Kelly Estes to create "God Bless Bitcoin" and the moment that sparked the project.

15:00 - The flaws of the current fiat monetary system and its connections to the military-industrial complex.

17:39 - How the film connects the themes of faith and finance, and why this intersection is crucial to understanding Bitcoin's role in society.

22:18 - Why Bitcoin is portrayed as a moral and ethical form of money in the film, and the broader implications of this perspective.

24:23 - How different faith traditions view Bitcoin and the resistance encountered by religious groups regarding its moral framing.

27:34 - The challenges faced during the production of the documentary and how the filmmakers selected their diverse group of interviewees.

32:47 - The impact "God Bless Bitcoin" is expected to have on both the Bitcoin community and the general public.

34:28 - Future projects and goals for Brian and Kelly Estes, and how listeners can support the mission of "God Bless Bitcoin."

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

BOOKS AND RESOURCES

Link to the movie: God Bless Bitcoin.
Additional Information about the movie.
Brian's X (Twitter) Account.
Kelly'sX (Twitter) 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 Communityto 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 thebest 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

TIP651: Value Investing in a Growth-Obsessed Market w/ Scott Barbee Aug 11, 2024

Show notes

On today’s episode, Kyle Grieve chats with Scott Barbee about how he managed to maintain a deep value-based strategy while it’s gone out of fashion, the three buckets of risk Scott uses to assess businesses, what a genetic contrarian is and why it can be a powerful advantage, why fossil fuels aren’t going anywhere anytime soon and why opportunities exist in that industry, how he navigated a 72% drawdown during the GFC, and a whole lot more!

Scott is the founder of the Aegis Value Fund. Which was created in 1998. Prior to Aegis, Scott worked as an analyst covering oilfield services at Simmons & Company. He also had a stint as a deep value advisor for Donald Smith & Company. He received his MBA from the Wharton School and the University of Pennsylvania. He also holds a B.S in Engineering and a B.A in Economics.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:41 - Some of the key lessons he learned from investing legends like Bill Ackman, Bob Robotti, Peter Cundill, and Walter Schloss

08:17 - How Scott has managed to maintain a value-based strategy when many investors have bailed to chase more expensive stocks

12:00 - Scott's three buckets of investing risk

16:10 - A breakdown of the concept of a "genetic contrarian."

17:30 - Why risk management is key to investing in businesses with high levels of uncertainty and how to take advantage of it

24:27 - Scott's views on energy and how fossil fuels are unlikely to disappear anytime soon

33:36 - The potential downsides Scott sees in super high-quality businesses

34:41 - Why lower-quality businesses with volatile earnings look very attractive right now due to a widespread de-leveraging

43:55 - How Scott dealt with a 72% drawdown during the GFC

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 Communityto engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Learn about the Aegis fundhere.
Read Scott’s Manager Letters 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:

HELP US OUT!

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

TIP650: Stock Market Bubbles, AI, & Climate Change w/ Jeremy Grantham Aug 09, 2024

Show notes

On today’s episode, Clay Finck is joined by investing legend and bubble historian, Jeremy Grantham. Jeremy gives his updated views on the recent stock market run up, how today’s market compares to market bubbles of the past, and indicators that point to the potential bear market that lies ahead.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:49 - Lessons Jeremy learned from his early career investing in the 1960s.

06:13 - How today’s market compares to previous superbubbles in the 1920s, 1989, 1999, and 2007.

12:11 - Jeremy’s view on the market rally since 2022, and the impact of the overcentration of the Magnificent 7 in the S&P 500.

17:40 - Why bubbles tend to last longer than we would expect them to.

31:56 - Whether using the P/E ratio is a reliable way to value the broader market.

36:29 - The major flaw in projecting compounding growth into the future from here.

44:55 - What Jeremy is seeing for innovation in the green energy space.

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 Communityto engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Check out GMO’s website.
GMO’s new US Quality ETF.
Related Episode: Listen to TIP542: The Crisis Bigger Than Banks w/ Jeremy Grantham, or watch the video.
Related Episode: TIP466: The Bear Has Arrived w/ Jeremy Grantham, or watch the video.
Related Episode: TIP371: The Top of the Cycle w/ Jeremy Grantham, 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:

HELP US OUT!

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

BTC194: Tether's Backing and Pear w/ Paolo Ardoino and Mathias Buus (Bitcoin Podcast) Aug 07, 2024

Show notes

In this episode, we start by delving into Tether's Q2 2024 attestation, highlighting their remarkable financial achievements and commitment to creating a stable and resilient stablecoin. Following this, we dive into the Pear initiative's zero-cost, peer-to-peer infrastructure, discuss Keet's open-source capabilities, and examine the impact of eliminating server dependency with insights from Paolo Ardoino and Mathias Buus.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:07 - Tether's Q2 2024 financial highlights, including $1.3 billion in net operating profit and $5.33 billion in excess reserves.

04:46 - The strategic positioning of Tether in the U.S. Treasuries market and its impact on financial stability.

08:47 - Tether's commitment to supporting users in emerging markets and developing countries with their stablecoin reserves.

23:17 - What the Pear initiative aims to achieve with zero-cost, peer-to-peer infrastructure.

26:43 - The potential and functionality of Keet, an open-source platform.

29:15 - How tunneling technology, similar to SSH, enhances secure peer-to-peer access.

31:06 - Details about the peer viewer app offering remote desktop services without servers.

34:25 - Paolo's mission to eliminate server dependency and the launch of a VC fund for companies building on the Pear protocol.

37:30 - The open-source aspects of Keet and how it handles code auditability.

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

BOOKS AND RESOURCES

Check out the Keet video conferencing Holepunch technology.
Check out the decentralized Pears initiative.
Paolo Ardoino'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 Communityto 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 thebest business podcasts.

Support our free podcast by supporting our sponsors:

HELP US OUT!

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

RWH048: Betting Billions On Outlier Talent w/ Adam Shapiro Aug 04, 2024

Show notes

In this episode, William Green chats with Adam Shapiro, Managing Partner at East Rock Capital. Adam oversees billions on behalf of eight vastly rich families, allocating their assets to everything from hedge funds to private equity. Here, he explains how to build & safeguard wealth over the long term; how he identifies the best fund managers; why he’s wary of index funds & ETFs; & how to thrive by building a powerful network & removing excess “filler” from your portfolio & your life.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

07:29 - Why Adam Shapiro stopped investing in emerging markets.

11:26 - Why the U.S. is a great—but potentially perilous—place to invest.

25:31 - What he learned at Goldman Sachs about intelligent investing.

32:02 - How he identifies fund managers who are likely to outperform.

40:01 - Why he favors small funds run by young & hungry investors.

45:56 - What human qualities lead to investment success.

51:53 - How Adam built an investing edge through networking.

1:13:21 - Why Adam is wary of index funds & ETFs.

1:20:05 - How David Swensen’s Yale Endowment Model can be updated.

1:21:31 - Why his #1 financial rule is “never, ever run out of liquidity.”

1:24:20 - How to reduce your risk & ensure survival in extreme conditions.

1:32:22 - Why firms like Millennium & Citadel may be riskier than they seem.

1:43:16 - How to improve your portfolio & life by subtracting excess “filler.”

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

BOOKS AND RESOURCES

Adam Shapiro’s investment firm, EastRock Capital.
Harvard Business School’s case study of EastRock Capital.
Adam Shapiro’s articles in his LinkedIn newsletter.
Check outInstitutional Investor’s article on why early life-cycle funds outperform.
Seth Stephens-Davidowitz’s book, “Don’t Trust Your Gut.”
David Swensen’s book, “Pioneering Portfolio Management.”
Roger Lowenstein’s book, “When Genius Failed.”
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?

Join the exclusive TIP Mastermind Communityto 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 thebest 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 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

TIP649: Owning Stocks for the Long Run w/ Pierre-Olivier Langevin Aug 02, 2024

Show notes

On today’s episode, Clay Finck is joined by Pierre-Olivier Langevin to discuss the investment approach at Medici and several of their portfolio holdings. Medici boasts an exceptional investment track record, achieving 16.0% annualized returns since 2009 compared to 11.3% for their benchmark.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:35 - What led Pierre to join Medici just two years after they started.

06:08 - Medici’s formula for outperforming the market.

12:30 - How Pierre identifies the moat within a great business.

29:08 - Medici’s bull thesis on Dollarama.

38:36 - What keeps Medici in Meta stock.

49:36 - How Meta is approaching capital allocation.

56:05 - How Pierre gets comfortable with Meta given the level of change they are bound to see over the next decade.

01:04:19 - An investment overview of O’Reilly Automotive.

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 Communityto engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Check out Medici.
Follow Pierre on LinkedIn.
Related Episode: Listen to TIP626: Intelligent & Rational Long-Term Investing w/ Francois Rochon, 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.