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

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Latest Episodes:

BTC127: Long-Term Holders Driving the Bitcoin Market w/ Dylan LeClair (Bitcoin Podcast) Apr 26, 2023

Show notes

Preston Pysh and Dylan LeClair cover Dylan's use of AI, programming, and on-chain analytics, what's driving the recent surge we've seen in the Bitcoin price since the start of the year, and what he's personally paying attention to in the general macro overview.

Dylan is one of the lead writers and researchers at Bitcoin Magazine Pro and has some of the most interesting and well-researched takes on what's currently happening with the market.

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro

01:11 - What has Dylan been doing with Python, AI, and on-chain analytics?

14:38 - A review of charts that Dylan is finding most important.

29:23 - Does the lack of exuberance in the past cycle compress the spring for the next cycle?

41:09 - What comes next from the G7 government on the crypto enterprise?

52:39 - Dylan's thoughts on commercial real estate.

53:47 - Dylan's thoughts on Binance moving forward.

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.
Dylan's Twitter.
Bitcoin Magazine Pro.
Related episode: Listen to BTC106: FTX Failure, GBTC, Genesis DCG & more w/ Dylan LeClair, or watch the video.
Related episode: Listen to BTC053: Bitcoin Derivatives & On-Chain Data w/ Will Clemente & 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

RWH026: Wealth & Health w/ Jason Karp Apr 23, 2023

Show notes

In this episode, William Green talks with Jason Karp, a prodigiously talented investor & entrepreneur whom he also profiled in his book, “Richer, Wiser, Happier.” Jason founded Tourbillon Capital Partners, where he managed $4.5 billion. He then quit the hedge fund business & created HumanCo, a holding company that invests in the health & wellness sector. Here, he speaks with extraordinary candor about his relentless quest for financial & professional success, & how his obsession with overachievement almost destroyed him.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

04:27 - How Jason Karp switched from underachiever to “hyper-neurotic overachiever.”

09:32 - How his obsession with productivity devastated his health.

25:01 - How he transformed his health, healing diseases that seemed incurable.

35:34 - What he learned about how to eat well for health & longevity.

53:13 - Why it’s helpful to “confuse your body” with random stressors.

54:32 - How the best investors succeed by deferring gratification.

1:09:17 - How Jason simplifies his life to reduce the impact of “decision fatigue.”

1:13:37 - How he designed his hedge fund’s offices to promote productivity & good health.

1:25:08 - What’s helped him most in dealing with his mental health challenges.

1:25:25 - How he came to be suicidally depressed at the pinnacle of his investment career.

1:28:24 - How he thinks about money, family, happiness, & fulfillment.

1:29:24 - Why founding a health & wellness conglomerate brought him a new level of joy.

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.
Jason Karp’s company, HumanCo.
Hu Chocolate brand co-created by Jason Karp.
Why Zebras Don’t Get Ulcers by Robert Sapolsky.
Undo It! by Dean Ornish M.D. & Anne Ornish
The Longevity Diet by Valter Longo.
Peter Attia’s book Outlive: The Science and Art of Longevity
Young Forever by Dr. Mark Hyman
Tara Brach’s book, “Radical Acceptance,” & her website.
How To Change Your Mind by Michael Pollan.
William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.

SPONSORS

Support our free podcast by supporting our sponsors:

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

TIP546: The Holy Grail of Long-Term Value Investing Apr 21, 2023

Show notes

On today’s episode, Clay Finck continues his review of Gautam Baid’s book, The Joys of Compounding. Today’s episode is part 4 of our review of this incredible book.

Gautam Baid is the Managing Partner and Fund Manager of Stellar Wealth Partners India Fund, a Delaware-based investment partnership which is available to accredited investors in the US. The fund is modeled after the Buffett Partnership fee structure and invests in listed Indian equities with a long-term, fundamental, and value-oriented approach.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro.

05:51 - What the holy grail of long-term value investing is.

07:55 - Why Gautam prefers to invest in high quality businesses.

10:26 - Why a company’s longevity of growth is much more important than its rate of growth.

15:44 - Why Gautam is bullish on India.

37:26 - Ways in which we can capitalize on inefficiencies in the markets.

45:38 - How Gautam thinks about portfolio management and position sizing.

54:20 - Why it’s so important we emphasize the preservation of our capital and avoiding ruin.

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 the book, The Joys of Compounding.
Tune into our previous episodes covering The Joys of Compounding: Part 1, Part 2 & Part 3. Watch the videos here, here and here.
Check out our recent episode covering Mark Leonard’s Letter’s and Constellation Software. Watch the video here.
Check out Clay’s YouTube video calculating the intrinsic value of Constellation Software here.
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:

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

BTC126: Redeeming GBTC w/ David Bailey (Bitcoin Podcast) Apr 19, 2023

Show notes

David Bailey and Preston Pysh get into an in-depth conversation about the GBTC Bitcoin Trust and all of the issues it's had over the past year and a half.

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro

01:29 - What backs Bitcoin?

10:27 - CBDCs and what happens next.

13:14 - FedNow and what happens after it's launch.

18:43 - The actual impact of picking winners and losers for decades on end.

20:14 - The Skull of Satoshi.

29:43 - What it's like building a Bitcoin media company as an entrepreneur.

29:43 - Growing the Bitcoin Conference.

45:32 - GBTC and the campaign for shareholders to redeem the Bitcoin in the trust.

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.
Redeem GBTC Website.
David Bailey's Twitter.
The Bitcoin Miami Conference.

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

RWH025: Patient Capital W/ Samantha McLemore Apr 16, 2023

Show notes

In this episode, William Green chats with Samantha McLemore, the founder of Patient Capital Management. After graduating magna cum laude from Washington & Lee University, she was hired by investing legend Bill Miller & spent 20 years working with him. They co-managed Miller Opportunity Trust, a top-performing mutual fund, for a decade until Bill recently retired & anointed her as his successor. Here, Samantha shares what she’s learned over the last two decades about how to outperform by thinking differently & developing a behavioral edge.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:09 - How Samantha McLemore & Bill Miller met while she was an undergraduate.

09:53 - How an insurance settlement from a dog bite sparked her interest in investing.

16:55 - What it was like being with Bill as the market crashed after 9/11.

24:32 - Why Samantha & Bill love to invest during times of fear, pessimism, & panic.

27:43 - Why Bill & Samantha are betting on Bitcoin despite Warren Buffett’s skepticism.

41:52 - What Samantha looks for when investing in early-stage companies.

45:48 - Why it’s rational to be a long-term bull about US stocks.

50:31 - Why it’s critical to focus on valuation, regardless of how good a company may be.

57:44 - What she’s learned from spending time with Amazon founder Jeff Bezos.

01:12:19 - How the global financial crisis almost led her to quit the investment business.

01:20:14 - What’s helped her to handle the stress of being a money manager.

01:41:22 - How Samantha invests her own money.

01:42:16 - How she manages her time as a fund manager & mother of three young kids.

01:45:54 - What Peter Lynch said about the necessity of always being “in overdrive.”

01:47:49 - Why Samantha likes to invest in companies run by women.

01:56:37 - How Fidelity’s female customers outperformed male customers by trading less.

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.
Samantha McLemore’s investment firm, Patient Capital Management.
Samantha McLemore’s Opportunity Trust mutual fund.
Listen to William Green’s podcast interview with Daniel Goleman & Tsoknyi Rinpoche or watch the video here.
Listen to William Green’s podcast interview with Arnold Van Den Berg or watch the video here.
Website with information about Neuro Emotional Technique (NET).
“Thoughts of a Philosophical Fighter Pilot” by Jim Stockdale.
“The Mindful Self-Compassion Workbook” by Kristin Neff & Christopher Germer.
William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.

SPONSORS

Support our free podcast by supporting our sponsors:

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

TIP545: The Third Sea Change Has Begun w/ Howard Marks Apr 14, 2023

Show notes

Trey Lockerbie invites the renowned Howard Marks, known for establishing Oaktree Capital with $140B in AUM and earning a reputation as an investing legend for his consistent performance, unconventional investments, and insightful memos. In their discussion, Howard shares his views on various topics, including A.I., Bitcoin, and his prediction that the financial markets are undergoing a significant transformation, which he believes is the third such occurrence in his illustrious 50-year career.

Howard is the author of several books on investing, including "The Most Important Thing" and "Mastering the Market Cycles," which have been widely praised for their insights into the investment process.

IN THIS EPISODE YOU’LL LEARN:

0:00 - Intro.

01:53 - His prediction that the financial markets are entering a Sea Change, the third such event he has seen in his over 50 year career.

02:16 - Why this Sea Change differs from normal market cyclicality.

18:58 - How a more moderate interest rate environment affects global debt and his risk assessments.

36:28 - How studies of Japan influenced his investing philosophies.

48:21 - His thoughts on A.I., Bitcoin, Japan & China.

56:14 - Also included are some of Howard’s personal insights.

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.
Related episode: Listen to TIP378: Move Forward With Caution w/ Howard Marks or watch the video here.
Related episode: Listen to TIP497: Lessons From Billionaire Howard Marks or watch the video here.
Related episode: Listen to TIP073: Billionaire Howard Marks – The Most Important Thing or watch the video here.
Visit: Oaktree Capital Management.
Howard Marks Memos.
Check out: Mastering the Market Cycle by Howard Marks.
Check out: The Most Important Thing by Howard Marks.
Check out: Mistakes Were Made (But Not by Me): Third Edition: Why We Justify Foolish Beliefs, Bad Decisions, and Hurtful Acts by Carol Tavris.
Trey Lockerbie's Twitter.

SPONSORS

Support our free podcast by supporting our sponsors:

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

BTC125: James Lavish On Why Bitcoin Performs From Here (Bitcoin Podcast) Apr 12, 2023

Show notes

James Lavish comes with decades of experience as a fixed income investor, and overall Bitcoin educator. On today’s show, Preston talks to James about how the evolving macro environment doesn’t seem to be hampering the price of Bitcoin, despite the numerous liquidity and central banking actions plugging the global economy.

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro

01:16 - What are the most important things to be focusing on in the second quarter of 2023?

02:56 - What James thinks about the disparity between the US and European credit markets right now.

18:04 - James' thoughts on the BTFP.

37:14 - How Bitcoin performs for the rest of this year.

37:38 - Could Bitcoin have a sell-off like we saw in March of 2020 with what might be brewing right now?

45:31 - Portfolio construction for Boomers.

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.
James'Twitter.
James'Bitcoin Opportunity fund.
James'Newsletter.
Related Episode: Listen to BTC110: Japanese Credit Markets, Bitcoin, & Nostr w/ James Lavish, or watch the video.
Related Episode: Listen to BTC093: The Debt Spiral Defined w/ James Lavish, 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

TIP544: Life-Changing Returns in Cyclicals & Spinoffs Apr 11, 2023

Show notes

On today’s episode, Clay continues his review of Gautam Baid’s book, The Joys of Compounding. Today’s episode is part 3 of our review of this incredible book.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:15 - How journaling can make us better investors.

07:00 - Why incentives are at the root of all human behavior.

09:22 - How management incentives impact our long-term returns as investors in businesses.

18:15 - Why being directionally right is more important than being precise in assessing the intrinsic value of a business.

25:37 - How maintenance capex impacts the value of a business.

32:14 - Ways in which value investors fall for value traps.

32:45 - Why we as investors should respect the market’s wisdom for pricing stocks.

35:09 - The three most important words of investing.

41:25 - How high-quality businesses enhance our margin of safety.

47:55 - How one commodity investment catapulted Gautam to nearly achieving financial independence.

53:36 - Why Seth Klarman, Peter Lynch, and Joel Greenblatt consider spinoffs to be ripe hunting grounds for investors.

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 the book, The Joys of Compounding.
Tune into our previous episodes covering The Joys of Compounding: Part 1 & Part 2. Watch the videos here and here.
Check out our recent episode covering Mark Leonard's Letter's and Constellation Software. Watch the video here.
Check out Clay’s YouTube video calculating the intrinsic value of Constellation Software here.
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

TIP543: 100 Baggers: Stocks that Return 100-1 w/ Chris Mayer Apr 09, 2023

Show notes

On today’s episode, Clay sits down with Chris Mayer to discuss the lessons from his book - 100 Baggers.

Chris is the author of 100 Baggers, and the portfolio manager of Woodlock House Family Capital. Chris’s book was published in 2018, and has quickly become a favorite within the investing community. The book very clearly explains the ingredients needed for a stock to compound and grow to 100 Bagger status, which we discuss during this episode.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

04:16 - The primary characteristics of companies that reached 100 Bagger status.

07:08 - How Chris views valuation when purchasing high-quality companies.

09:51 - How Chris assesses the durability of a moat.

18:15 - Why stocks are one of the best long-term protections against calamity and chaos.

44:27 - Why Chris prefers to own companies with management teams that own substantial portions of the company’s stock.

35:13 - Why Chris chose to concentrate his fund into only 10 holdings.

37:04 - Chris’s assessment of Constellation Software and why it’s one of his favorite holdings.

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.
Tune into our previous episode covering The Joys of Compounding or watch the video.
Check out our recent episode covering Mark Leonard's Letters and Constellation Software or watch the video.
Chris’s fund: Woodlock House Family Capital.
Chris Mayer’s book: 100 Baggers.
Thomas Phelps’ book: 100 to 1 in the Stock Market.
Barton Biggs’ book: War, Wealth & Wisdom.
Follow Chris 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:

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

TIP542: The Crisis is Bigger Than Banks w/ Jeremy Grantham Apr 07, 2023

Show notes

Trey Lockerbie welcomes back billionaire and legendary investor Mr. Jeremy Grantham. Jeremy has a reputation for accurately predicting future events, including nearly every single bubble bursting over his career. During their conversation, Jeremy shares his thoughts on recent bank failures, Fed policy, and other world issues.

IN THIS EPISODE YOU’LL LEARN:

0:00 - Intro.

01:51 - Jeremy’s general thoughts on recent bank failures and Fed policy.

12:22 - A look at history and how long bear markets typically last.

36:00 - How Apple and Microsoft are eating the S&P 500?

46:52 - And other significant global concerns that are of interest to Jeremy.

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.
Related episode: Listen to TIP466: The Bear Has Arrived w/ Jeremy Grantham or watch the video here.
Related episode: Listen to TIP371: The Top of the Cycle w/ Jeremy Grantham or watch the video here.
Trey Lockerbie's Twitter.
Check out the GMO website.

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:

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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

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