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

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Latest Episodes:

RWH036: The Power Of Simplicity w/ Anthony Kingsley Nov 12, 2023

Show notes

In this episode, William Green chats with Anthony Kingsley, who oversees more than $10 billion at an investment firm named Findlay Park. Anthony is the portfolio manager of the Findlay Park American Fund, which has crushed its benchmark index by 1,200 percentage points over 25 years. Here, he discusses his firm’s surprisingly simple path to exceptional returns.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:09 - What Anthony Kingsley learned from his great mentor, James Findlay.

07:22 - Why their firm, Findlay Park, lives by the mantra “Keep it simple.”

10:38 - How the firm structures its fees to be simple & fair.

19:02 - Why the key to long-term success is avoiding disaster.

18:06 - How Anthony harnesses diversification to reduce stress.

24:19 - How to incentivize a team of equity analysts.

27:40 - How he avoids repeating common investment mistakes.

39:53 - How he developed his 28-point investing checklist.

41:07 - Why he focuses intensely on analyzing corporate culture.

45:46 - Why it’s perilous to dismiss or ignore ESG.

53:54 - Why he never invests in biotech or pharma.

54:53 - Why he’s more excited about mid-caps than mega-caps.

1:01:10 - What makes the US a wonderful market for investors.

1:10:08 - Why he’s optimistic about the UK’s economic future.

1:14:51 - How he balances work, family, & play.

1:42:08 - What role luck has played in his success.

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

BOOKS AND RESOURCES

Anthony Kingsley’s investment firm, Findlay Park.
Atul Gawande’s book The Checklist Manifesto.
Matthew Walker’s book Why We Sleep.
William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.
Follow William Green on X (AKA Twitter).
Check out the books mentioned in the podcast here.

NEW TO THE SHOW?

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 arating 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

TIP587: Dino Polska: A Polish Compounder w/ Kyle Grieve & Clay Finck Nov 10, 2023

Show notes

On today’s episode, Clay is joined by Kyle Grieve to share a stock deep dive on Dino Polska. Dino Polska is an incredible business that has increased its store base by over 5x since 2015 and increased its earnings per share by over 10x since that time.

Kyle Grieve is the host of The Millennial Investing Podcast and also helps Clay run the TIP Mastermind Community – a community built by investors, for investors.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:44 - The primary characteristics Kyle looks for in his stock investments.

06:00 - What Dino Polska’s business model is and how they’ve perfected their growth formula.

10:45 - What sticks out about Dino’s management team.

14:33 - Dino Polska’s competitive advantages.

22:31 - What enables Dino Polska to continue to grow its store counts at above-average rates.

27:36 - Why it’s important to understand both the qualitative and quantitative aspects of a moat and durable competitive advantage.

31:28 - The key things to know about Dino operating in Poland.

38:36 - How Kyle views the valuation of Dino Polska.

41:27 - Potential new verticals that Dino Polska may expand into.

49:37 - Potential risks investing in Dino Polska.

54:23 - What live events TIP recently hosted in NYC.

1:01:24 - How you can join Clay and Kyle in Omaha for our upcoming events during the Berkshire weekend.

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

BOOKS AND RESOURCES

Check out our newly released TIP Mastermind Community.
Learn more about the Berkshire Summit by clicking here or emailing Clay at clay@theinvestorspodcast.com.
Sohra Peak Capital Partner’s Research on Dino Polska.
Related Episode: Listen to TIP585: Concentrated Value Investing w/ Shree Viswanathan or watch the video.
Invest in International Stocks with Interactive Brokers.
Follow Kyle on Twitter.
Follow Clay on Twitter.

NEW TO THE SHOW?

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 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

BTC155: Dylan LeClair Bitcoin Market Overview (Bitcoin Podcast) Nov 07, 2023

Show notes

Preston Pysh chats with Bitcoin Magazine’s, Dylan LeClair all about the important Bitcoin news stories happening in the 4th Quarter of 2023.

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro

02:52 - How Dylan's AI adventure has progressed in 2023.

06:19 - What is causing the big moves in Bitcoin right now?

15:37 - What happens with the fixed income market from here?

41:23 - His thoughts on the Bitcoin ETF.

41:23 - What advice should Boomers take to understand Bitcoin?

43:51 - Does Dylan think cash settled derivatives can influence the underlying price of Bitcoin?

53:18 - Is there anything coming out of the SBF trial that is noteworthy or important?

56:43 - Dylan's thoughts on BitVM.

01:12:31 - What is something that is under-reported in the Bitcoin space?

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Dylan's Twitter.
Bitcoin Magazine Prothat Dylan writes for.
Related episode: Listen to BTC127: Long-Term Holders Driving the Bitcoin Market w/ Dylan LeClair, or watch the video.
Related episode: Listen to BTC106: FTX Failure, GBTC, Genesis DCG & more w/ Dylan LeClair, or watch the video.

NEW TO THE SHOW?

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 thebest business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

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

TIP586: Mastermind Q4, 2023 w/ Tobias Carlisle and Hari Ramachandra Nov 05, 2023

Show notes

In today's episode, Stig Brodersen speaks to Tobias Carlisle and Hari Ramachandra. Stig outlines why he put LVMH on his watchlist and is waiting to buy the dip. Hari’s pick, Dollar General, is down 50%, and super investors like Chris Bloonstran, Seth Klarman, and Tom Gayner have invested, and insiders have been buying too. Tobias pitches Inmode, a stock facing a lot of bad news as a result, could be trading at a very attractive price.

Ensure you stay around for the end of the episode, where we share information about how you can meet up with our hosts William Green, Clay Finck, and Kyle Grieve in Omaha for the Berkshire shareholder's meeting.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

11:33 - Why Tobias is bullish on InMode

38:35 - Why Hari is bullish on Dollar General

1:06:46 - Why Stig is bullish on LVMH

1:43:54 - How can you pitch your stock to the TIP Mastermind Community

1:59:43 - How to meet up with the TIP team and listeners in Omaha in May

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

BOOKS AND RESOURCES

Join the waiting list for ourTIP Mastermind Community.
Contact Clay for more information about our exclusive weekend in Omaha at clay@theinvestorspodcast.com.
Get help planning your trip to Omaha by listening to this episodeor watch the video.
Tune in to the Mastermind Discussion Q3 2023 - TIP576 or watch the video.
Listen to Mastermind Discussion Q2 2023 - TIP557 or watch the video.
Tune in to Mastermind Discussion Q1 2023 - TIP528 or watch the video.
Listen to Mastermind Discussion Q1 2022 - TIP418 or watch the video.
Tune in to Mastermind Discussion Q2 2022 - TIP450 or watch the video.
Listen to Mastermind Discussion Q3 2022 - TIP475 or watch the video.
Tune in to Mastermind Discussion Q4 2022 - TIP496 or watch the video.
Dollar Generals’s debt situationon page 35.
Listen to Chris Bloomstran’s interview with William Green about Dollar Generalor watch the video.
Erwan Rambourg’s book, Future Luxe – read reviews of this book.
Our FREE stock analysis resource, Intrinsic Value Index.
Subscribe to our FREE Intrinsic Value Assessments.
Tobias Carlisle's podcast, The Acquirer’s Podcast.
Tobias Carlisle's ETF, ZIG.
Tobias Carlisle's ETF, Deep.
Tobias Carlisle's book, The Acquirer's Multiple – read reviews of this book.
Tobias Carlisle's Acquirer's Multiple stock screener:AcquirersMultiple.com.
Tweet directly to Tobias Carlisle.
Hari's Blog: BitsBusiness.com.
Tweet directly to Hari.

NEW TO THE SHOW?

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 thebest business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

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

TIP585: Concentrated Value Investing w/ Shree Viswanathan Nov 03, 2023

Show notes

Clay Finck is joined by Shree Viswanathan to discuss his concentrated, patient, and global approach to investing. They touch on many of the key aspects to successful long-term investing as well as one of Shree’s portfolio holdings, Dino Polska, which reminds him of Walmart in their early days.

Shree Viswanathan is the founder and portfolio manager of SVN Capital.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro.

02:17 - The story of his father earning 40x on an investment despite never garnering an interest in the subject.

08:54 - Spiritual and life lessons that Shree has learned over the years.

14:52 - The most important aspects to understand investing internationally.

20:52 - What makes India an attractive hunting ground for long-term investors.

33:10 - Why we should remain fully invested in uncertain times.

38:57- How investors can minimize the impact of ego hurting their performance.

41:30 - The benefits Shree has seen from a daily meditation practice.

46:31 - What led him to run a concentrated portfolio of only 9 holdings.

53:16 - Why Dino Polska out of Poland reminds Shree of Walmart in their early days.

56:43 - How Shree thinks about inflation and currency risk investing internationally.

01:11:10 - How Shree thinks about the valuation of Dino Polska.

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

BOOKS AND RESOURCES

Check out our newly released TIP Mastermind Community.
Shree’s fund: SVN Capital.
Compensation by Ralph Waldo Emerson.
Wealth by Ralph Waldo Emerson.
The Money Game by Adam Smith.
A Search in Secret India by Andrew Brunton.
The Sketchbook of Wisdom by Vishal Khandelwal.
Related episode: Listen to WSB569: An Investor’s Guide to Clear Thinking w/ Chris Mayer or watch the video.
Related episode: Listen to WSB543: 100 Baggers: Stocks That Return 100-1 w/ Chris Mayer or watch the video.
Follow Shree on Twitter.
Follow Clay on Twitter.

NEW TO THE SHOW?

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 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

BTC154: Bitcoin and Macro Mastermind Q4 2023 w/ Joe Carlasare, Jeff Ross, and Steven McClurg (Bitcoin Podcast) Oct 31, 2023

Show notes

In the fourth quarter 2023 mastermind discussion with Preston Pysh, Joe Carlasare, Jeff Ross, and Steven McClurg, we cover a broad range of macro and Bitcoin topics.

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro

01:28 - The DTCC website listing various Bitcoin ETFs.

01:28 - Will the Bitcoin ETF even bring new interest to Bitcoin?

26:05 - What is happening in the treasury market right now?

33:45 - The current bull market in Bitcoin - what's driving it?

53:27 - What's the broader implications of the treasury market moves?

01:04:15 - Oil.

01:04:15 - PBOC liquidity injections and overall outside influences to liquidity.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Joe’s Legal Practice.
Steven’s company Valkyrie.
Jeff’s Investment Firm.

NEW TO THE SHOW?

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 thebest business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

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

RWH035: Learning from Warren Buffett & Charlie Munger w/ Chris Davis Oct 29, 2023

Show notes

In this episode, William Green talks with Chris Davis, a renowned investor at Davis Advisors who also serves on Berkshire Hathaway’s board of directors. Here, Chris shares powerful lessons he’s learned from his mentors—Warren Buffett & Charlie Munger—about building financial resilience, learning from our mistakes, avoiding our weaknesses, harnessing trust, & flourishing as we age.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

10:09 - What Chris Davis has learned from Buffett & Munger about aging well.

18:27 - Why trust is a superpower in business & life.

30:04 - Why many successful investors fail to build good relationships.

38:31 - How Buffett & Munger consciously avoid their weaknesses.

40:38 - What Buffett learned from Dale Carnegie.

1:00:26 - Why Chris views Jeff Bezos as “the LeBron James of capitalism.”

1:18:24 - What it’s like to hear Buffett talk at Berkshire’s board meetings.

1:21:37 - How Buffett thinks about risk & resilience.

1:26:44 - How Munger inspired Chris to be radically open about his mistakes.

1:38:59 - How to run an organization that breeds excellence.

1:52:10 - What Chris learned from Cardinal John Newman.

2:00:25 - What Buffett teaches about friendship, generosity, & kindness.

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, and the other community members.
Chris Davis’s investment firm, Davis Advisors.
Dale Carnegie’s book, How to Win Friends & Influence People.
Dale Carnegie’s book, How to Stop Worrying & Start Living.
Titan, Ron Chernow’s biography of John D. Rockefeller.
Autobiography of Benjamin Franklin.
Listen to William Green’s podcast interview with Ray Dalio or watch the video.
William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.
Follow William Green on X (AKA Twitter).

SPONSORS

Support our free podcast by supporting our sponsors:

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

TIP584: Optimizing for the Long-Term w/ Sahil Bloom Oct 27, 2023

Show notes

Clay Finck is joined by Sahil Bloom. Sahil is the writer behind the spectacular newsletter, The Curiosity Chronicle, which has garnered 500,000 subscribers in just a few years. During this discussion, Sahil and Clay explore the philosophies and frameworks that Sahil has used to build a meaningful life that has impacted hundreds of thousands of people while also staying true to what is truly most important to him.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro.

02:57 - Sahil’s framework around finding the right work for you.

08:31 - How we can utilize career leverage.

10:10 - What it means to “swallow the frog” for your boss.

12:20 - How authenticity plays into success.

23:14 - Why Sahil keeps his focus on playing long-term games through his work, relationships, and health.

25:30 - Whether he finds it difficult to remain consistent.

26:57 - How big goals can destroy your happiness.

32:13 - The mental framework Sahil uses to determine what projects to focus on.

35:51 - How Sahil thinks about asset allocation as a business owner.

42:14 - Jeff Bezos’s business approach of turning cost centers into profit centers and how Sahil applied this in practice.

53:03 - How Sahil finds the right balance to prioritize the things that are most important in his life.

59:41 - How Sahil ensures that he is continually consuming high-quality content.

64:01 - What is to come in Sahil’s new book.

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, and the other community members.
Sahil’s newsletter: The Curiosity Chronicle.
Anne-Laure Le Cunff’s writings at Ness Labs.
Related episode: Listen to TIP336: Mental Models used by Billionaires w/ Sahil Bloom or watch the video.
Related episode: Listen to BTC055: The Cantillon Effect w/ Sahil Bloom or watch the video.
Follow Sahil on Twitter and Instagram.
Follow Clay on Twitter.

SPONSORS

Support our free podcast by supporting our sponsors:

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

BTC153: Bitcoin's Taproot Asset Protocol w/ Ryan Gentry (Bitcoin Podcast) Oct 25, 2023

Show notes

Preston Pysh is joined by Lightning Lab’s very own Ryan Gentry to talk about some of the new and exciting software technology that’s going to change the way people interact with the Bitcoin Lightning Network.

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro

05:54 - What is the Taproot Asset Protocol (TAP)?

12:05 - How can the TAP be used with Bitcoin?

15:41 - What impact will sending Dollars over the Bitcoin Network have for people needing fiat stable coins?

15:41 - What does the competition look like for fees and settlement speeds on this network relative to other protocols?

25:06 - What does it take to run this software on a Bitcoin full node?

30:20 - What are Ryan's thoughts about altcoins potentially being used on Bitcoin?

35:42 - What are Ryan's thoughts on securities being tokenized on the TAP?

52:56 - How could stock certificates be managed on TAP?

52:56 - What are some of his concerns and highlights with the TAP use?

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
The Coinshares Article explain the Taproot Asset Protocol.
The Congo Mining Article.
The River Lighting Report.
The River review of the Taproot Asset Protocol.
Ryan Gentry's Twitter.

NEW TO THE SHOW?

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 thebest business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

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

TIP583: Preparing for the Bear Market to Come w/ Gautam Baid Oct 22, 2023

Show notes

Clay Finck is joined by Gautam Baid to discuss his new book, The Making of a Value Investor.

Gautam Baid, CFA is the Managing Partner of Stellar Wealth Partners India Fund, a Delaware-based investment partnership which is available to accredited investors in the US. Gautam is also the Equity Advisor of Complete Circle Stellar Wealth PMS, a portfolio management service which is available to Indian citizens and NRIs globally. Both funds are modeled after the Buffett Partnership fee structure and invest in listed Indian equities with a long-term, fundamental, and value-oriented approach.

Gautam is author of the international best-seller on value investing, The Joys of Compounding. In 2018 and 2019, he was profiled in Morningstar’s Learn from the Masters series.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro.

02:40 - The impetus for Gautam writing a second book.

04:24 -Why journaling is an important practice for value investors.

06:27 - Why judging market sentiment is important and how investors can go about doing so.

13:21 - How Gautam came to the realization that quality of the business should be emphasized.

16:19 - Why a behavioral edge is the most accessible edge to individual investors today.

19:57 - Gautam’s biggest eureka moment in his journaling process.

27:25 -Why we should let our portfolio winners run.

29:31 - How Gautam thinks about liquidity and why Stan Druckenmiller considers it the most important thing in markets.

33:43 - The telltale signs that a bear market is complete.

39:50 - What companies you shouldn’t average down on in a bear market.

47:00 - How quality businesses thrive during a bear market.

48:19 -Why different stocks require differing levels of patience.

50:23 - How we can use the wisdom of markets to our advantage.

54:05 - How Gautam thinks about the Fed’s policies.

59:21 - How investors can best prepare themselves for the next bear market.

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, and the other community members.
Check out our newly released TIP Mastermind Community.
Learn more about Gautam’s Fund – Stellar Wealth Partners.
Gautam’s book: The Making of a Value Investor.
Check out the related episode: WSB566: The Passionate Pursuit of Lifelong Learning w/ Gautam Baid, or watch the video here.
Follow Clay on Twitter.
Follow Gautam on Twitter.

SPONSORS

Support our free podcast by supporting our sponsors:

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

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