We Study Billionaires - The Investor’s Podcast Network

On today’s episode, Clay is joined by Derek Pilecki. Derek is a managing member and portfolio manager at Gator Capital Management, which manages Financials sector long/short portfolios for private partnerships and mutual funds. Since its inception in July 2008, Gator Capital has compounded capital at 21.0% per annum versus 11.8% for the S&P 500 over the same time period. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:48 - Derek’s experience of launching a financials-focused fund 10 weeks before the collapse of Lehman Brothers. 12:13 - Derek’s advice to aspiring hedge fund managers. 14:30 - How Derek achieved a return of 186% in 2009. 14:30 - What led Derek to purchase General Growth Properties, whose stock increased by 20x in less than one year. 23:25 - Why Warren Buffett likes financial companies, especially the big banks. 27:38 - Why Derek puts his focus on financial companies. 33:36 - How banks can create a sustainable competitive advantage in their market. 36:08 - Why First Citizens Bancshares is Derek’s top position in his fund. 46:44 - An update on the current market conditions for banks. 50:21 - How a high inflation environment would impact banks. 52:53 - Why Derek is long Robinhood. 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 Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Derek’s fund: Gator Capital. Derek’s letters. Related Episode: Listen to TIP634: Value Investing Fundametals w/ John Huber, or watch the video. Follow Derek 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

In this episode, Allen shares his thoughts on the Saifedean vs. Saylor debate on borrowing against Bitcoin, the role of stablecoins in expanding fiat, and their underlying protocols. He also delves into the risks of stablecoins compared to traditional bank accounts and highlights current technical risks in the crypto space. Allen gives his take on free speech and technologies like Nostr and discusses the growing custody and derivatives activity with institutions like BNY Mellon and IBIT. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:26 - Allen’s perspective on the Saifedean vs. Saylor debate regarding borrowing against Bitcoin. 05:55 - Why stablecoins may or may not be more risky than traditional bank accounts. 10:26 - How stablecoins might help in the expansion of fiat currencies globally. 14:46 - Technical risks that Allen is currently concerned about in the crypto space. 27:19 - Whether stablecoins require protocols like Tron or Solana for long-term functionality. 31:51 How institutional involvement is changing the crypto landscape, from custody to derivatives. 39:48 - Allen’s views on free speech, Nostr, and supporting technologies for Bitcoin. 45:48 - The significance of BNY Mellon’s custody services and the approval of derivatives for Bitcoin. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Allen's (X) Twitter Account. Allen on Nostr. Allen’s book: Bitcoin Is Venice: Essays on the Past and Future of Capitalism. 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. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

In today's episode, Stig Brodersen outlines 10 things he has learned about investing since he started The Investor’s Podcast in 2014. In the second segment of the show, Clay Finck joins to discuss his top takeaways from his investing career. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:12 - Why you should be careful who you listen to about stock investing. 07:45 - Why you should not screen for stocks. 08:29 - Why Stig’s circle of competence is getting smaller. 11:31 - Why Stig do not read as many investing books as he used to. 16:05 - Why you should set up guardrails for yourself. 19:36 - Why you shouldn’t look at your track record more than once per year. 20:17 - Why you shouldn’t only have public equities in your portfolio. 31:23 - Why you should run your track record 1,000 times. 32:53 - How one could think about position sizing. 35:59 - What are the implicit assumptions? 45:43 - What Clay learned about investing. 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, Kyle, and the other community members. Stig’s blog post on his portfolio and track record since 2014. Stig and Clay’s podcast episode on Stig’s return since 2014. Criteria of companies in the UK that Stig is interested in buying. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

On today’s episode, Clay is joined by Professor Hendrik Bessembinder to discuss his renowned research on the performance of individual stocks. Professor Bessembinder is a finance professor at Arizona State University, and his research titled, ‘Do Stocks Outperform Treasury Bills?’ has been referenced many times on the show. As a frequent speaker at conferences, financial markets, and universities around the world, Professor Bessembinder has more than 25 years of successful consulting experience, providing strategic advice and analysis for major firms, financial markets, and government agencies. IN THIS EPISODE YOU’LL LEARN: 01:58 - Why most stocks lose money in the long run. 10:26 - What level of asymmetry exists in the stock market. 12:47 - Why stocks continuously outperform treasury bills over long time periods. 15:02 - What the average drawdown for a high-performing stock is. 20:57 - The common characteristics of the biggest stock market winners. 34:28 - What it takes to be a stock picker in today’s market. 45:17 - What the best-performing stocks are since 1925. 51:48 - Whether there is skewness in international stocks to the same degree as US stocks. 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 Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Hendrik’s most well-known paper, Do Stocks Outperform Treasury Bills? Hendrik’s research. Related Episode: Listen to TIP654: Investing Across the Lifecycle w/ Aswath Damodaran, or watch the video. Related Episode: Listen to TIP543: 100 Baggers: Stocks that Return 100-1 w/ Chris Mayer, 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

In this episode, we dive into the technicalities of Bitcoin block templates, the Stratum V1 and V2 protocols, and the innovations brought by Ocean’s Datum Protocol. We also explore a fascinating story of Tesla hacking and the challenges of implementing decentralized mining pools. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:48 - What a Bitcoin block template is and its role in decentralization. 07:07 - The function and limitations of Stratum V1 software. 09:12 - How Stratum V2 aims to improve mining decentralization and why adoption has been slow. 14:52 - A fascinating story of how Jason Hughes hacked a Tesla in front of its Chief Technology Officer. 21:49 - How the Datum Protocol manages reward distribution among miners with different templates. 22:31 - How Ocean’s Datum Protocol enables decentralized block templates for both small and large miners. 41:36 - The challenges Ocean faces with large miners, especially regarding SOC2 compliance. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Bitcoin Mechanic on X (Twitter), Nostr. Jason Hughes on X (Twitter). Ocean on Discord. Ocean on Nostr. Related Episode: Decentralizing Bitcoin Mining Pools with Bitcoin Mechanic. 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 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

On today’s episode, Kyle Grieve chats with co-host Clay Finck about Clay’s favorite book, The Joys of Compounding. They discuss how compounding can profoundly affect people's lives inside and outside of investing, simple thinking tools to make better decisions, why humility is such an important trait all good investors possess, how to think about value and quality traps regarding evaluation, why you should emphasize compounding in your relationships with others and your health, and a whole lot more! IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 03:07 - Why compounding can be found in all areas of life 10:01 - The importance of self-education after a formal education in the wealth-building process 13:03 - Valuable thinking tools that can help you optimize your decision-making and think at a higher level 18:26 - A breakdown of two of Guatam Baid's first principles of investing 21:39 - The importance of humility in investing and understanding whether you have an advantage or disadvantages 29:05 - Why living life on your principles has been such a valuable tool for Warren Buffett, and how you can utilize the framework in your own life 43:25 - How this book helped Clay understand the value of owning high-quality businesses even when they look expensive 52:12 - The importance of culture in the lens of long-term investing and quality businesses 1:02:16 - How to utilize base rates in investing to improve decision-making by looking at public data or looking at your successes and failures 1:05:45 - Why compounding social relationships, intellectual processes, and health are so crucial to living a fulfilling life 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 Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Read The Joys Of Compounding. Read Principles: Life and Work. Read Selected Writings of Ralph Waldo Emerson. Follow Kyle on Twitter and LinkedIn. Follow Clay 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

On today’s episode, Clay and Kyle review The Most Important Thing by Howard Marks and share their most impactful takeaways. Howard Marks is the co-founder and co-Chairman of Oaktree Capital Management, a global investment giant with more than $190 billion in assets. He’s also the author of two best-selling books, “The Most Important Thing” and “Mastering the Market Cycle,” and his client memos have earned him renown as one of the world’s most insightful thinkers on financial markets and the art of investing. Warren Buffett has said, “When I see memos from Howard Marks in my mail, they’re the first thing I open and read. I always learn something.” IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 05:12 - How second-level thinking can improve our skills as investors. 10:54 - The most common reasons for a stock to be mispriced. 13:40 - Howard’s thoughts on the efficiency of markets. 18:26 - How Howard Marks thinks about risk. 28:25 - Ways in which we can recognize risk in the market. 50:31 - How to differentiate luck versus skill in investing. 01:10:55 - The importance of patient opportunism for investors like Pulak Prasad and Warren Buffett. 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 Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Books mentioned: The Most Important Thing, The Joys of Compounding. Related Episode: TIP545: The Third Sea Change Has Begun. Related Episode: RWH002: Investing Wisely in an Uncertain World. Mentioned Episode: TIP597: Darwin's Investing Lessons w/ Kyle Grieve. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

In this episode, we dive into SAB 121’s implications on Bitcoin, discuss BNY Mellon’s crypto custody services, and explore how regulatory changes and institutional adoption could shape Bitcoin's future value. We also examine BlackRock’s demands on Coinbase, changes in M2 money supply, and Basel III’s risk weight requirements for cryptoassets. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:32 - The significance of BNY Mellon’s approval for custody services. 02:01 - Michael Saylor's three prerequisites for Bitcoin reaching $5M per coin. 16:06 - The impact of BlackRock’s 12-hour settlement window requirement for Coinbase. 21:41 - ESG trend changes driven by AI advancements. 24:36 - How SAB 121 requires banks to treat Bitcoin deposits as liabilities. 25:26 - The 1,250% risk weight requirement for Bitcoin under Basel III regulations. 30:37 - Why Silvergate’s bankruptcy may have been influenced by government actions. 34:38 - How stablecoins interact with traditional banking systems. 46:29 - Why Ethereum is currently facing a downward trend. 49:30 - The expansion of the M2 money supply and its implications for inflation. BOOKS AND RESOURCES America Hodl on Nostr . Jeff Ross on Nostr. Joe Carlasare on Twitter, Nostr. 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 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

On today’s episode, Kyle Grieve discusses the investing philosophy and concepts from the Nomad Investment Partnership, how they created their fund structure to align themselves with partners, why they settled on inactivity, the powerful effects of businesses that share profits with customers rather than shareholder, how they ended up focusing on the scale economies shared business model, how they dealt with commitment bias, and a whole lot more! IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 04:17 - How Nomad Investment Partnership created their ground rules to succeed in the long term 05:37 - The rare and unconventional way that Nomad wanted to be evaluated by their partners 09:13 - Why inactivity only works with certain businesses, and NOT all businesses 13:48 - The extraordinary returns of Costco, Amazon, and Berkshire Hathaway since the depths of the GFC, and a great insight into what Nomad said about that particular time 15:26 - Why Nomad focused on the scaled economics shared business model 20:29 - How Nomad utilized the concept of a "cone of uncertainty" to better understand risk and help with position sizing 29:12 - Why a deep understanding of a business earlier than the market is so beneficial and allows you to have outsized position sizes that can continue growing at market-beating returns 31:46 - Why your next best investing opportunity might already be in your portfolio 40:41 - Specific questions to ask to help you utilize destination analysis for long-term holdings 43:03 - The four most powerful mistakes that Nick and Zak observed 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, Kyle, and the other community members. Read Nick and Zak's Adventures in Capitalism by The Rational Cloner. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

On today’s episode, Clay is joined by Ted Seides to discuss his new book — Private Equity Deals: Lessons in investing, dealmaking, and operations from private equity professionals. Over the past 20 years, the private equity industry has gone from a cottage industry to a powerful juggernaut that touches every corner of the global economy — now totaling over $6 trillion. Ted is the former president and Co-CIO of Protege Partners, and prior to that, he was a senior associate, working under investing legend David Swensen at Yale. He is the host of the popular podcast — Capital Allocators. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:04 - What has led to the growth in private equity over the past few decades? 06:39 - Why David Swensen referred to private equity as a superior form of capitalism. 08:47 - Why private equity has outperformed public equities as an industry. 14:19 - How the lock-up period in private equity impacts returns. 18:03 - Ted’s take on why private equity has been given a poor reputation. 28:34 - The importance of pricing to the seller in a private equity deal. 30:17 - How interest rate hikes have impacted private equity. 32:17 - An overview of KKR’s “perfect private equity deal.” 38:27 - An overview of Apollo’s purchase of Yahoo in 2021. 49:34 - An overview KPS Partners’ purchase of TaylorMade. 57:24 - What types of investors should consider an allocation to private equity? 59:18 - Ted’s portfolio allocation. 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 Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Ted’s book: Private Equity Deals. Ted’s book Capital Allocators. Capital Allocators Website & Podcast. Follow Ted on Twitter & LinkedIn. Related Episode: TIP444: The Changing World of Endowments & ESG Investing w/ Ted Seides. Mentioned Episode: TIP654: Investing Across the Lifecycle w/ Aswath Damodaran. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Join us as Calle, the creator of Cashu Protocol, explores how Cashu enhances the Bitcoin Lightning Network by offering a privacy-focused solution for micropayments. We delve into key topics such as custodial vs. non-custodial Bitcoin solutions, Cashu’s impact on network growth, and the future of Nostr integration with Bitcoin. Calle also explains how Cashu balances security with usability while aiming to promote global scalability and decentralization. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 05:04 - What motivated the creation of Cashu and its core value to the Bitcoin Lightning Network. 08:22 - How Cashu works on a basic level and its role in simplifying micropayments. 15:11 - How Cashu enhances privacy compared to other solutions within the Lightning Network. 22:26 - The challenges Cashu faces in driving user adoption and how they might be overcome. 22:49 - The difference between custodial and non-custodial Bitcoin solutions and why this matters. 30:13 - Why micropayments are more scalable with custodial solutions due to technical limitations. 32:31 - The role of decentralization in Cashu's future, especially given the involvement of custodians. 37:11 - How Cashu integrates with the Lightning Network to facilitate secure, private transactions. 48:40 - How Nostr can be used to prevent the centralization of DNS and what this means for Bitcoin. 54:17 - Technological innovations like atomic multi-hop payments and their significance. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Calle's X (Twitter) Account. Calle's Github. Calle's Nostr. Calle's Website. 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 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

On today’s episode, Kyle Grieve discusses an underrated book called “Warren Buffett’s Ground Rules” by Jeremy Miller, he’ll discuss how to avoid being taken advantage of by Mr. Market, how to maximize the effects of compounding, how Warren thinks about tracking investment performance, how Buffett aligned himself with his partners, why contrarianism is such a good trait in investing, the challenged of scaling capital and a whole lot more! IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 04:34 - How to think about the time lag between a businesses changing fundamentals and its market price 10:30 - The story that taught Warren Buffett about the magic of compounding 15:07 - Why avoiding frictional costs is so crucial to maximizing your ability to compound your money 35:25 - The five characteristics to avoid if you want to outperform the market 36:15 - The four investing buckets that Buffett invested in 40:04 - Warren's strategies for investing in generals, merger arbitrage, and controls 41:04 - Contrasting contrarianism and conservatism in investing and how to leverage it to make better investments 55:00 - Warren's early thoughts on concentration and diversification 59:28 - The two primary reasons scaling up capital can erode investment returns 1:03:24 - The importance of sticking to your investing principles and not dropping them just because other people are succeeding in unsustainable ways 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, Kyle, and the other community members. Buy Warren Buffett’s Ground Rules here. Read the Buffett Partnership 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

On today’s episode, Clay is joined by Richard Lawrence. Richard is the Founder and Executive Chairman of Overlook Investments, a leading value-oriented investment firm in Asia that he founded in 1991. Over a 30-year time period, Overlook compounded capital at 14.3% per year — a remarkable record of growth that is a testament to their consistent ability to find and invest in Asia’s best companies. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:53 - Why the 1980s was the most transformative period in Asia’s history. 04:03 - Key lessons that Richard learned from his father, who owned an investment firm in New York. 07:10 - Why Richard prefers to invest in the most simple businesses. 12:23 - What Richard learned from having his apartment ransacked after publicly calling out a management team his firm invested in. 13:17 - What was happening during the Asian financial crisis that made it an economic nightmare for businesses all throughout Asia? 22:33 - Why Richard regrets ever listening to Buffett’s advice on ignoring the broader macro environment when investing in great companies. 23:51 - How Richard helped Taiwan Semiconductor improve their capital allocation decisions. 38:55 - Why Richard generally prefers dividends over share buybacks. 42:24 - What led Richard to recommend TSMC’s stock to Warren Buffett? 44:33 - Why Overlook has started to bet big on China. 50:49 - Richard’s view on the current macro situation in China. 58:55 - The biggest misconceptions that US investors have with respect to China. 01:00:35 - How Jeremy Grantham influenced Richard to be more mindful about the environmental risks that lie ahead 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 Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Richard’s fund: Overlook Investments. Richard’s book: The Model. Book mentioned: The Economics of Climate Change. John Holdren’s annual presentation on climate change. Related Episode: Listen to WSB647: Value Investing Masterclass w/ Soo Chuen Tan, 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

In this episode, Matthew Mežinskis shares insights from his 6 years of research on base money trends, inflation vs. deflation, and the growth of Bitcoin. We delve into historical examples like Kublai Khan, examine the impact of population growth, and explore why central bank actions now face greater scrutiny. Mežinskis also explains why he views CBDCs as mere imitations of Bitcoin's success and sheds light on Bitcoin’s long-term growth potential. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:37 - What "base money" is and its current trends in the global economy. 05:17 - Why people are scrutinizing central banks more now than in past decades. 21:03 - How Bitcoin’s compound annual growth rate compares to traditional assets. 31:15 - The role of population growth in monetary trends. 35:08 - The potential impact of Bitcoin adoption on the global economy. 38:59 - Bitcoin’s supply dynamics during price stability and what that signals for the future. 43:03 - Why Matthew refers to CBDCs as "LARPing" on Bitcoin’s success. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Matthew's X (Twitter) Account. Matthew’s Website: Porkopolis.io 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 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

In today's episode, Stig Brodersen speaks to Tobias Carlisle and Hari Ramachandra. Stig only owns five individual stocks, and in this episode, he outlines why Betsson is one of them. Hari’s pick, Nintendo, is at an attractive spot in the console cycle, and Tobias pitches Virtu, a value stock trading at an appealing valuation. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:04 - Why Toby has invested in Virtu Financial (Ticker on NASDAQ: VIRT). 13:23 - The bear case for Virtu, including a discussion of whether their service is superior. 24:44 - Why Hari is bullish on Nintendo (Ticker on the Japanese Stock Exchange: 7974). 26:19 - The bear case of Nintendo, including their valuation. 43:14 - Stig’s bull case is for Betsson (Ticker on the Swedish Stock Exchange: BETS). 55:56 - The bear case for Betsson, including their exposure to Turkey. 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, Kyle, and the other community members. Listen to Mastermind Discussion Q2 2024 – TIP632 or watch the video. Tune in to the Mastermind Discussion Q1 2024 or watch the video. Listen to Mastermind Discussion Q4 2023 – TIP586 or 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. Stig Brodersen’s portfolio and return. 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. Hari's Blog: BitsBusiness.com Tweet directly to Hari. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

On today’s episode, Clay is joined by Shree Viswanathan for a stock deep dive on Hermès. Hermès is a luxury goods manufacturer renowned for its high-quality craftsmanship. The brand is known for its iconic products, such as the Birkin and Kelly bags, silk scarves, and equestrian-inspired items. Since the IPO in 1993, shares of Hermès have compounded at 20.6% (excluding dividends), while the S&P 500 had a total return of just 10.4%. Shree Viswanathan is the founder and portfolio manager of SVN Capital. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:38 - A business overview of Hermès. 10:28 - Examples of Hermès thinking exceptionally long-term in their business strategy. 30:16 - The attempted takeover of Bernard Arnault. 37:59 - The strength of Hermès’ moat. 56:01 - The growth opportunities ahead for Hermès and the luxury industry more broadly. 01:03:22 - How Hermès approaches capital allocation. 01:14:15 - Shree’s thoughts on Hermès’ valuation. 01:29:51 - Risks that investors should monitor for Hermès. 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 Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Shree’s fund: SVN Capital. Follow Shree on Twitter. Best Anchor Stocks write-ups on Hermès. Books mentioned: 100 Baggers, The Founder’s Mentality, The Luxury Strategy. Stewart Brand’s seminar on long-term thinking. Howard Marks’ podcast with Morgan House. Related Episode: WSB585: Concentrated Value Investing w/ Shree Viswanathan. Mentioned Episode: WSB645: The King of Luxury w/ Christian Billinger. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

This episode covers key real estate market trends amid rising inflation and interest rates, particularly in city centers. We discuss the markdown of commercial properties, the impact on rental vs. ownership rates, and regional pricing variations. The conversation also explores how Bitcoin can serve as collateral for real estate development, acting as a hedge against inflation, and the potential of Bitcoin-backed loans. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:08 - How rising inflation impacts real estate, particularly in city centers. 03:12 - The effect of higher inflation on CAPEX and operational expenses for developers. 05:08 - Key reasons for the markdown of commercial real estate and its potential evolution. 08:42 - Predictions for rental rates vs. ownership rates in a high-interest environment. 13:15 - Regional variations in real estate pricing and how they affect investment strategies. 19:35 - How Bitcoin can serve as a hedge against inflation in real estate development. 27:38 - The potential for Bitcoin to protect against property confiscation. 33:59 - The benefits of using Bitcoin as collateral versus traditional assets. 34:22 - How Bitcoin-backed loans differ in terms of risk and structure from traditional real estate financing. 45:40 - The future of Bitcoin as a standard asset class for real estate collateral. BOOKS AND RESOURCES Leon's X (Twitter) Account. Leon on Nostr. Leon's Newsletter. 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 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

On today’s episode, Kyle Grieve discusses the importance of simplicity and understanding for investment success, why you can succeed in investing while being wrong often, cloning characteristics too many investors follow that should be avoided to improve investing success, the significant differences in analyzing large and small businesses, how to treat stock tips with caution to avoid risky investments, why separating your investments into subtypes can be a helpful investing tool, and a whole lot more! IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 03:44 - Why investing in things that you understand well is still such a big competitive advantage in investing. 04:59 - The vital interplay between fundamentals, momentum, value, and price. 11:18 - How to succeed in investing while being dead wrong 40% of the time. 16:12 - Why market timing is one of the quickest ways to decrease returns. 18:18 - The crucial connection of contrarianism and patience that Peter says makes a successful investor. 21:05 - The significant differences in analyzing small businesses compared to larger businesses. 31:34 - Why you should look to market pricing to find great opportunities and not to assess performance. 32:45 - How you should treat stock tips. 37:05 - 13 unconventional characteristics of outstanding investments. 52:51 - Lynch's six investment types, and why delineating them was important. 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 Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Buy One Up On Wall Street 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

On today’s episode, Clay shares the most important lessons he’s learned from Morgan Housel. Morgan Housel is a partner at The Collaborative Fund. He's the New York Times Bestselling author of The Psychology of Money and Same As Ever. His books have sold over 4.5 million copies and have been translated into more than 50 languages. He also serves on the board of directors at Markel. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:24 - Why the best story wins. 09:35 - Why the biggest risk is the one nobody sees coming. 23:03 - The seduction of pessimism and why it pays to be an optimist. 27:18 - The importance of understanding ‘enough’. 44:42 - The importance of patience and investing with a long time horizon. 52:34 - The impact of debt. 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 Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Morgan’s books: The Psychology of Money & Same as Ever. Morgan's podcast on debt with Howard Mark. Related Episode: Listen to TIP602: Same as Ever w/ Morgan Housel, or watch the video. Related Episode: Listen to TIP351: The Psychology of Money w/ Morgan Housel, or watch the video. Mentioned Episode: RWH016: The Best of the Best w/ Francois Rochon. Mentioned Episode: RWH013: Move Slow, Win Big w/ Thomas Russo. Mentioned Episode: TIP559: Mastering the Market Cycle w/ Howard Marks. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

In this episode, Preston interviews Max Kei and Pascal Hugli, diving deep into how Bitcoin's unique characteristics position it as the ultimate collateral for institutional lending. The discussion covers key topics such as risk management, the role of stablecoins, peer-to-peer lending versus traditional finance, and the future of Bitcoin in institutional portfolios. Max and Pascal share their perspectives on the barriers to institutional adoption, the evolving regulatory environment, and the innovations shaping the future of Bitcoin lending and borrowing platforms. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 09:47 - How Bitcoin’s 24/7 liquidity and decentralized nature make it the most pristine collateral for lending and borrowing. 16:59 - The impact of Bitcoin’s deep liquidity on risk management strategies for institutions. 20:45 - The challenges and opportunities for institutions in adopting Bitcoin compared to traditional assets. 24:45 - Insights into Bitcoin’s performance in institutional portfolios and how it shapes future portfolio management. 32:13 - The future of Bitcoin lending and borrowing platforms and the innovations on the horizon. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Max Kei’s Institutional Borrowing and Lending platform: Debifi. Max and Preston: The Future of Bitcoin Borrowing and Lending w/ Max Kei (BTC177). Max Kei's X Account and Nostr. Pascal Hugli’s X Account and Nostr. 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 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

In this episode, William Green chats with Harold J. (“Jay”) Bowen III, President & CIO of Bowen, Hanes & Company. Jay & his late father generated dazzling returns for their biggest client, the Tampa Firefighters’ & Police Officers’ Pension Fund. The fund’s stock portfolio has achieved an annualized return of 14.4% over 50 years & a cumulative return of more than 81,000%. Here, Jay explains how they pulled this off, sharing one of the great untold stories of the investment world. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 08:37 - What makes the Tampa Firefighters’ & Police Officers’ Pension Fund special. 17:54 - How Jay Bowen’s father came to run the fund half a century ago. 29:09 - How to thrive by slashing fees, shunning consultants, & thinking long term. 38:54 - Why Jay takes a top-down thematic investment approach. 43:03 - How the fund made a fortune buying Coca-Cola before Buffett. 47:15 - Why it pays to bet on extraordinary CEOs. 51:09 - Why truly long-term investors shouldn’t bother with bonds. 1:05:31 - How Jay is positioned to profit from the Fourth Industrial Revolution. 1:10:27 - How he thinks about pricey stocks like Nvidia & Costco. 1:14:29 - How he invests in smaller companies he sees as future blue chips. 1:18:06 - Why he’s obsessed with the Federal Reserve. 1:22:16 - How to invest successfully in times of market mayhem. 1:37:58 - How being an endurance athlete has helped Jay as an investor. 1:53:58 - How he structures his days to optimize performance. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Jay Bowen’s investment firm, Bowen, Hanes & Company. Links to Jay Bowen’s media appearances. William Green’s podcast episode with Fred Martin | YouTube Video. William Green’s podcast episode with Bob Robotti | YouTube Video. William Green’s book, “Richer, Wiser, Happier” – read the reviews. 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 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. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

On today’s episode, Clay offers a detailed guide on creating an investment checklist to help you avoid picking losing stocks. An investment checklist, paired with thorough fundamental analysis, is crucial for making informed and intelligent decisions in the investing world. Great investment opportunities are rare, and a well-crafted checklist is key to distinguishing exceptional companies from mediocre ones. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:44 - Why fundamental research is essential to invest successfully. 04:47 - How to generate new investment ideas. 06:47 - How to understand the basics of a business. 08:31 - How to understand the customer base. 10:32 - How to determine the primary risk factors of a business. 19:19 - How to evaluate the strengths and weaknesses of a company. 28:25 - Which financial and operating ratios investors should monitor? 32:53 - How to determine the quality of a company’s earnings and management team. 01:06:51 - How to evaluate growth opportunities. 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 Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Books mentioned: The Investment Checklist, 7 Powers, Investment Intelligence from Insider Trading. Mentioned Episode: TIP652: Best Quality Idea Q3 2024 w/ Clay Finck & Kyle Grieve. Mentioned Episode: TIP600: Business Durability and Strategy Masterclass w/ Hamilton Helmer. Mentioned Episode: TIP604: Best Quality Idea Q1 2024 w/ Clay Finck & Kyle Grieve. Mentioned Episode: TIP602: Same as Ever w/ Morgan Housel. Mentioned Episode: TIP492: The Best Investor You've Never Heard Of — Nick Sleep. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

In this episode, we dive into the challenges of Bitcoin payments and scaling, and how Fedi is addressing these issues. Obi Nwosu explains the concept of Fediments and guardians, while Renata Rodrigues shares her on-the-ground experiences in Africa, discussing the real-world impact of Fedi on communities. We also explore the tools within the Fedi app that empower users to earn sats and the potential of Fedi to unlock talent trapped by financial repression. Additionally, Obi and Renata discuss Fedi’s move towards open-source, social backup mechanisms, and their partnership with Save the Children. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 03:54 - The major problem that Fediments solve for Bitcoin payments and scaling. 04:31 - How guardians function within the Fedi ecosystem and the role they play in protecting user privacy. 05:43 - The concept of the Fedi Order and how it supports the Fedi ecosystem. 15:33 - Insights from Renata Rodrigues on the conversations happening in Africa around Bitcoin adoption. 18:43 - Obi Nwosu's perspective on how financial repression is trapping talent globally and how Fedi can help unlock it. 28:30 - How vendors are responding to incorporating Fedi into their stores. 30:01 - The tools inside the Fedi app, known as Fedi Mods, that enable people to earn sats. 32:17 - The importance of social backup and stable channels within the Fedi ecosystem. 43:35 - Fedi’s partnership with Save the Children and how it is making a difference. 46:52 - How to start your own Fedimint and the timeline for getting set up. 51:00 - Fedi's transition towards becoming open source and what it means for the future. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Watch the Fedi Live Event at Fedi.xyz. You can follow Fedi on X and Nostr and join the Fedi Telegram community here. Download the Fedi App. Connect with Developers on Fedimint and Discord here. 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 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

On today’s episode, Kyle Grieve discusses a wonderfully well-written autobiography, “Shoe Dog” by Phil Knight, the founder of Nike. He discusses the importance of identifying and pursuing true happiness while ensuring a stable income as a fallback, the value of hustle, the importance of trust with your suppliers, why focus is so vital to business success, the hidden downsides of issuing equity, the importance of maintaining cash reserves, the complexities of growing a business, and a whole lot more! IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:30 - The importance of being aware of what will make you happy in life, and pursuing it with deep focus 07:37 - Why happiness can't be fulfilled based purely on increased earnings power 09:42 - Why hustle and unconventionality is so important to getting a nascent business off of the ground 15:36 - The difficulties of aligning incentives between lenders and borrowers in fast-growing businesses 23:29 - The importance of creating an enemy in business to help motivate executives to continue innovating and improving 25:31 - Why focused business leaders are so important, and why you want to avoid CEOs doing excessive side projects 28:56 - The aspects of cloning Phil took to increase exposure for the Nike brand 32:49 - Why maintaining positive cash balances is so important to the health of a business 47:23 - Why public businesses use dual share structures so management can maintain control 47:58 - Why IPO's have misaligned incentives for investors 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 Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Buy Shoe Dog 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

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 Community to 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

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 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 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

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 Community to 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 about ValueX 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

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 Community to 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

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's X (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 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. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

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 Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Learn about the Aegis fund here. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

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 Community to 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

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 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. 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. Support our free podcast by supporting our sponsors: River Toyota Range Rover Fidelity Fundrise Sound Advisory AT&T The Bitcoin Way SimpleMining BAM Capital American Express Onramp Public USPS Shopify 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! Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

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 out Institutional 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 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. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

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 Community to 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. SPONSORS Support our free podcast by supporting our sponsors: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

In this episode of the Bitcoin Fundamentals Podcast, we interview Bob Burnett, a Bitcoin mining and technology expert. Bob explains why the value of a block is largely misunderstood and how the future of mining may differ from common assumptions. We discuss the forward marketplace for blockspace, the economic implications of its scarcity, and the evolving role of miners. Bob also shares insights into the strategic importance of securing blockspace for major corporations and the potential symbiotic relationships between mining and financial services companies. Tune in to learn about the dynamics of blockspace, the impact of Bitcoin on energy markets, and what the future holds for the Bitcoin ecosystem. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:17 - The often misunderstood value of a block. 05:33 - The future of Bitcoin mining and how it may evolve. 08:53 - The concept of a forward marketplace for blockspace. 21:59 - Why blockspace is both a commodity and absolutely scarce. 24:45 - The strategic importance of securing blockspace for major corporations. 30:11 - How miners are shifting from producing Bitcoin to offering blockspace. 37:09 - The potential impact of mining on financial services companies. 39:47 - How the value of a block is determined beyond just transaction fees. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Bob Burnett's website: Barefoot Mining. Related episode: Bitcoin's Hardware Future with Bob Burnett. 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. 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. Support our free podcast by supporting our sponsors: River Range Rover Public Toyota American Express Fundrise Vacasa USPS AT&T Sound Advisory BAM Capital Shopify 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! Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

On today’s episode, Kyle Grieve chats with Ian Cassel about the art of success in the private investing world, key investing skills to help manage stress, simple methods for finding new investing ideas, consolidating your stock buying framework, the challenges that must be overcome to hold a stock successfully, when they sell a stock, how to develop perseverance like a legendary investor, and a whole lot more! Ian had a long history as a full-time private investor of microcaps. He then transitioned to become the founder of Intelligent Fanatics Capital Management. He is the founder of MicroCapClub.com and co-founder of IntelligentFanatics.com. He’s co-authored two books on Intelligent Fanatics. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:15 - The stresses that must be overcome with being a private investor. 05:18 - Why you shouldn't project performance through a bull market with performance going forward (good performance through a bull market is unlikely to remain the same over a full cycle). 12:20 - How to think about survival with your portfolio through brutal bear markets. 17:11 - A sneak peek into Ian's framework for the skills of investing that are required for outperformance. 23:49 - How to build the skill of identifying stock ideas and Ian's five favorite ways. 28:53 - The power of thinking about the downside before thinking of the upside in investing. 36:21 - Why you can pay double your initial price for a business with increasing earnings power and get a better deal at a higher price. 42:50 - The potential weaknesses of coffee canning and why it does not work on every investment. 46:38 - The four reasons for selling a stock. 1:03:51 - How to deal with biases with being a long-only investor. 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, Kyle, and the other community members. Read the MicroCapClub Blog and sign up for the newsletter here. Join the MicroCapClub 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

On today’s episode, Clay is joined by Soo Chuen Tan who is the founder and president of Discerene Group to discuss global & contrarian value investing. Soo Chuen started his firm in 2010 with less than $100 million in AUM and has grown it to over $2 billion. Utilizing their strict value investing approach, Discerene has had an impressive investment track record since its founding in June 2010. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:30 - What led Soo Chuen to start Discerene Group shortly after the collapse of Lehman Brothers. 15:33 - What differentiates Discerene Group from other value investors. 20:34 - Lessons that Soo Chuen teaches younger investors. 38:43 - Whether great investing can be learned or not. 43:20 - How Soo Chuen balances the subjectivity of markets with solid and rationale investment approach. 01:00:19 - The importance of reflexivity in markets. 01:06:46 - How Discerene has avoided value traps. 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 Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Check out Discerene Group. Follow Soo Chuen on LinkedIn. Jason Zweig’s article: The Seven Virtues of Great Investors. Bobby Knight’s book: The Power of Negative Thinking. David Chambliss’s The Mundanity of Excellence. Solomon Asch Conformity Line Experiment Study. Malcolm Salterl's Short-Termism at Its Worst. Gopalan, Milbourn, Song, & Thakor's Duration of Executive Compensation. Related Episode: Listen to TIP492: The Best Investor You've Never Heard Of (Nick Sleep), or watch the video. Related Episode: Listen to RWH044: How to Beat the Market w/ Bryan Lawrence, or watch the video. Related Episode: Listen to TIP592: Outperforming the Market Since 1998 w/ Andrew Brenton, 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

In this episode, Mark Goodwin, author of "The Chain of Custody: The Mafia Holding the Elite’s Bitcoin," explores the article's central themes, the concept of 'covert dollarization,' and Bitcoin's impact on venture capital and US intelligence. We also cover privacy and security concerns, and the future of Bitcoin in emerging markets. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:07 - The central message of "The Chain of Custody: The Mafia Holding the Elite’s Bitcoin." 02:49 - Insights from Mark Goodwin's book, "The Bitcoin Dollar." 05:25 - Explanation of Endeavor and its importance in the entrepreneurial ecosystem. 09:13 - The concept of 'covert dollarization' and its implications. 23:25 - How venture capital firms, influenced by US intelligence and organized crime, shape entrepreneurs and how Bitcoin fits into this dynamic. 31:28 - Predictions for the future of Bitcoin in Latin America over the next decade. 35:07 - Privacy and security concerns for individuals using Bitcoin in data-driven models by Big Tech companies. 49:03 - The potential for Bitcoin to empower or challenge entrepreneurial ecosystems in emerging markets. 50:59 - The impact of the US intelligence community's relationship with Silicon Valley on Bitcoin's development and adoption. 53:14 - Addressing the connection between organized crime and the elite’s control over Bitcoin to ensure it remains a force for good. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Mark Goodman’s article: The Chain of Custody: The Mafia Holding the Elite's Bitcoin. 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. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

On today’s episode, Kyle Grieve discusses a book that is near and dear to Warren Buffett’s heart, Common Stocks and Uncommon Profits by Philip Fisher. He’ll discuss why the book was so influential on Warren’s transition towards quality businesses, why going deep into a business is vital to successful long-term investing, specific ways to learn more about a business, it’s management, and its products, how to create your own business grapevine to monitor your investments, details on how Philip Fisher’s investing philosophy and how it developed, and a whole lot more! IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 04:12 - The importance of avoiding dogmatic thinking in investing 05:13 - Why owning growing businesses is so powerful for great investments 05:47 - How to evaluate a business growth prospects 08:43 - How you should look at relations between a business and its employees 14:44 - How Amazon has strengthened their moat by thinking long-term 26:27 - The three ways a business can fund its growth and which are the most beneficial to shareholders 33:56 - Why you should seek transparency in your management teams 35:17 - How to balance investing in growth businesses with being a conservative investor 44:57 - Why having the ability to see the future of a business's profits is so key for minimizing risk 53:07 - The importance of consistently monitoring your businesses, no matter how well they've performed for you in the past 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 Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Buy Common Stocks and Uncommon Profits by Philip Fisher here. Buy Where The Money Is by Adam Seessel here. Buy 7 Powers by Hamilton Helmer here. Buy What I Learned About Investing From Darwin by Pulak Prasad 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

On today’s episode, Clay is joined by Christian Billinger to discuss Bernard Arnault, LVMH, and the broader luxury industry. Christian is chairman of Billinger Förvaltnings AB, which invests in publicly listed equities. The firm seeks to generate attractive long-term total returns in real terms without employing financial leverage. Christian previously covered European equities for Cheyne Capital, Gartmore, and GAM in London. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:08 - What makes Bernard Arnault a unique business leader? 10:44 - What attracted Christian to make his initial investment in LVMH. 12:17 - A business overview of LVMH. 27:14 - The role of China in LVMH’s business and growth story. 48:32 - Christian’s thoughts on LVMH’s current valuation & risks in the business. 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 Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Christian’s investment firm. Tune into Stig’s pitch for LVMH. Books mentioned: The Luxury Strategy, Selling Europe to the World. Related Episode: Listen to TIP643: The Luxury Strategy w/ Christian Billinger, 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

In this episode of the Bitcoin Fundamentals Podcast, we interview Ryan MacLeod, a Chemical Technologist from Canada. Ryan provides a brief history of nuclear energy, discusses recent technological advancements, and explains why nuclear energy is crucial for the future. We delve into the economic model of nuclear energy, the interplay between nuclear energy and Bitcoin, and how Bitcoin mining can serve as an immediate buyer of nuclear energy. Ryan also shares insights into energy market dynamics, the role of government policies, and exciting future scenarios involving Bitcoin and nuclear energy. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 02:38 - The history and evolution of nuclear energy. 09:45 - Recent advancements in nuclear energy technology. 23:27 - Why nuclear energy is poised to become a crucial energy source in the future. 32:52 - The economic model of nuclear energy and its distortion by fiat incentives. 41:55 - The interplay between nuclear energy and Bitcoin. 43:37 - How Bitcoin mining can integrate with nuclear energy. 45:21 - The implications of Bitcoin mining on energy grids. 48:40 - Future scenarios involving Bitcoin and nuclear energy. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Ryan's MacLeod's X (Twitter) account. Chris Keefer Podcast on Nuclear. Nuclear Energy State’s dashboard for SMRs. Related podcast: Titans of Nuclear Podcast. 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. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

On today’s show, Stig Brodersen talks with co-host William Green, the author of “Richer, Wiser, Happier.” With a strong focus on building meaningful relationships and serving others, they discuss what has made them Richer, Wiser, or Happier in the past quarter. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:24 - How to deal with your ego 05:52 - Stig and William’s journey to serve others 27:58 - Why Stig has invested with Mohnish Pabrai 34:13 - Why one should not judge others for flawed values 40:41 - What is the Richer, Wiser, Happier Masterclass 53:25 - How to build and maintain meaningful relationships 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, Kyle, and the other community members. If you want to learn more about the Richer, Wiser, Happier Masterclass, please email [email protected]. William Green’s book Richer, Wiser, Happier – read reviews of this book. William Green’s book, The Great Minds of Investing – read reviews of this book. Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q1 2024 | YouTube Video. Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q3 2023 | YouTube Video. Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q2 2023 | YouTube Video. Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q1 2023 | YouTube Video. Stig Brodersen and William Green’s episode on Money and Happiness | YouTube Video. William Green’s interview with Pico Iyer about being Beyond Rich | YouTube Video. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

On today’s episode, Clay is joined by Christian Billinger to discuss The Luxury Strategy by Kapferer and Bastien. Over the past 20 years, some of the best performing companies in the stock market have come from the luxury sector. For example Hermes and LVMH, which are both companies based out of France, have compounded at 21% and 16% respectively. Christian is chairman of Billinger Förvaltnings AB, which invests in publicly listed equities. The firm seeks to generate attractive long-term total returns in real terms without employing financial leverage. Christian previously covered European equities for Cheyne Capital, Gartmore, and GAM in London. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 04:12 - The definition of luxury. 04:12 - How luxury companies create their own demand. 08:47 - What products are most prevalent in the luxury industry. 10:28 - The primary differences between a premium and a luxury product. 19:26 - What the non-return effect is, and how it can make luxury companies more resilient. 26:09 - An overview of Kapferer’s anti-laws of marketing. 30:39 - Why luxury companies seek to keep non-enthusiasts out of their ecosystem. 36:46 - How higher prices can lead to higher demand from consumers in the luxury space. 40:36 - How luxury brands approach e-commerce & pricing. 57:23 - How to think about the valuation of luxury companies. 01:03:28 - How luxury brands tend to perform during a recession. 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 Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Christian’s investment firm. Books mentioned: The Luxury Strategy, Selling Europe to the World. Related Episode: TIP582: Quality & Defensive Investing w/ Christian Billinger. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

In this episode of the Bitcoin Fundamentals Podcast, we interview the versatile Kenny Florian, a former UFC fighter known for his impressive career across multiple weight classes. We explore Kenny's journey in MMA, highlighting his work ethic, resilience, and the concept of "proof of work." Kenny shares personal stories, including his near-death experience in Brazil and his background in Brazilian Jiu-Jitsu and Muay Thai. We also discuss how his discipline and hard work led him to discover Bitcoin, and why Bitcoin resonates so strongly with athletes. Tune in for an engaging discussion that bridges the worlds of MMA and cryptocurrency. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 03:56 - Kenny Florian's journey from soccer to becoming a renowned UFC fighter. 11:25 - The challenges of competing in multiple weight classes in the UFC. 14:09 - Insights into the mental strategies used to stay focused and prepared for fights. 16:02 - The concept of "proof of work" as it applies to MMA and Bitcoin. 25:14 - Personal stories of perseverance, including a near-death experience. 36:29 - How Kenny maintains a positive demeanor in a tough industry. 37:42 - The parallels between the discipline in MMA and the principles of Bitcoin. 39:02 - Why Bitcoin resonates with top-tier athletes and Kenny’s personal journey with cryptocurrency. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Kenny Florian’s X (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 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. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

In this episode, William Green chats with Bruce Usher, author of a book titled “Investing in the Era of Climate Change.” Bruce, a successful entrepreneur, investor, & Columbia Business School professor, discusses the “once-in-a-lifetime” investment opportunity created by the transition of the global economy to a low-carbon future. He explains how to protect yourself financially as environmental risks intensify, & how to profit as trillions of dollars flow into innovative climate change solutions that will change the world—from electric vehicles to solar energy. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 05:37 - Why Bruce Usher sees climate change as a huge opportunity (& risk) for investors. 08:34 - How the transition to a low-carbon future will transform the global economy. 10:53 - How extreme weather is finally altering perceptions of climate change. 13:45 - How to protect against environmental threats to your property. 20:39 - Why electric vehicles & renewable energy are key drivers of decarbonization. 33:42 - How Berkshire Hathaway is playing the energy transition. 49:05 - Why leading companies like Apple & Microsoft are serious about sustainability. 54:02 - Why it’s wise to consider environmental factors before buying any stock. 01:03:53 - How to invest in funds & ETFs that reduce your exposure to climate risk. 01:12:44 - How billionaires like Bill Gates & Jeff Bezos invest in climate change solutions. 01:23:01 - What consumers can do to reduce their negative impact on the environment. 01:27:47 - Why Bruce thinks humanity might still avoid catastrophic climate change. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Bruce Usher’s book, Investing in the Era of Climate Change. Bruce Usher’s book, Renewable Energy: A Primer for the Twenty-First Century. William Green’s podcast interview with Bryan Lawrence. 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 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. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

On today’s episode, Clay discusses the early days of Starbucks and Howard Schultz’s book — Pour Your Heart Into It. Starbucks has been one of the market's best-performing stocks over the past three decades. Since the IPO in 1992, Starbucks stock has had an average annual return of 18.6% relative to the S&P 500 returning 10.4% over that same period (with dividends reinvested). Clay unveils the fascinating story of how Howard fended off endless competition to build an iconic brand that’s built to last. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:01 - What led Howard Schultz to join and take over Starbucks. 14:24 - The impact of Howard’s visit to Italy, where there were 200,000 coffee bars. 34:07 - How Howard aligned the interests of the company with the interests of all employees at Starbucks. 48:29 - Lessons Howard learned in taking Starbucks public. 58:13 - How Starbucks was able to dominate big brands in the early days. 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 Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Howard’s books: Pour Your Heart into It & Onward. Related Episode: TIP144: Billionaire Howard Schultz's Book Onward — A Story About Starbucks. Mentioned Episode: TIP627: LuluLemon Stock Deep Dive w/ Clay Finck & Kyle Grieve. Mentioned Episode: TIP639: Buffett's Favorite Business Book w/ David Fagan. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

In this episode of the Bitcoin Fundamentals Podcast, Prince Philip of Serbia joins us to discuss his advocacy for Bitcoin and its potential to offer financial sovereignty. We delve into his journey from a background in finance to becoming a passionate Bitcoin proponent. Prince Philip shares his thoughts on the synergies between Bitcoin and monarchy, the environmental impact of traditional banking systems, and the challenges and opportunities for Bitcoin adoption in Serbia. We also explore his vision for a Bitcoin nation-state and the future of global finance. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:56 - Prince Philip's journey from finance to Bitcoin advocacy. 13:38 - The benefits of Bitcoin for financial sovereignty and inclusion. 15:41 - The synergies between Bitcoin and monarchy. 21:14 - The environmental impact of traditional banking systems versus Bitcoin. 32:08 - The steps Serbia needs to take for Bitcoin adoption. 34:23 - Prince Philip's vision for a Bitcoin nation-state. 36:08 - The role of merchants in driving Bitcoin adoption. 39:51 - Personal anecdotes from Prince Philip's life as a prince and a Bitcoin advocate. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Prince Philip’s X (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 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. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

On today’s episode, Kyle Grieve and Clay Finck continue their conversation on Investing: The Last Liberal Art by Robert Hagstrom. We discuss details on why using the right explanation for a business is so important to a good investment thesis, simple ways to improve your reading to get more out of the books and content that you consume, how to use simple mathematical concepts to improve your decision making in real-time, how to understand better System I and System II thinking and how it directly applies to investing, some of the latest mental models Kyle has learned from interviewing recent guests, and a whole lot more! IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 03:34 - How to use the proper explanations in your analysis to determine the right comparable best. 06:18 - Why Tesla is so misunderstood. 10:33 - Why the economics of Dino Polska make it an invalid comparison to other grocers. 12:02 - The power of narratives in investing and how we can guard ourselves from getting overly optimistic. 17:43 - How to optimize reading for learning. 40:18 - How to use Bayes theorem to tip odds in your favour and change your position sizing. 45:45 - Why value and prices become disconnected, and how human psychology plays into this. 50:20 - Why intuition (system I thinking) is so difficult to rely on in the stock market. 01:09:22 - How to make thinking in mental models a habit. 01:14:59 - Some of the latest mental models Kyle has learned from interviewing some of his latest guests. 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 Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Buy Investing: The Last Liberal Art here. Buy The Great Mental Models here. Learn more about Mental Models here. Buy Poor Charlie’s Almanck here. Buy More Than You Know here Follow Clay on Twitter and LinkedIn. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

On today’s episode, Clay and Kyle dive into Robert Hagstrom’s book — Investing: The Last Liberal Art. Charlie Munger is famous for popularizing the use of mental models and pulling key ideas from related fields and implementing them to the world of investing. In today’s episode, that’s exactly what we do, starting with the fields of physics, biology, sociology, and psychology. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:27 - How learning new mental models can help us be better investors. 10:49 - Concepts in physics that we can carry over to investing. 25:35 - Lessons we can learn from evolution and complex adaptive systems. 42:00 - What leads to a stock oscillating above and below the intrinsic value. 54:15 - The primary psychological biases as lead to investment mistakes. 01:05:43 - Why Lumine’s incentive structure is a structure worth studying. 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 Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Buy Investing: The Last Liberal Art here. Read Seeking Winners blog here. Buy What I Learned about Investing from Darwin here. Buy The Uncertainty Solution here. Learn more about Charlie Munger’s speech here. Learn more about Mental Models here. Read Li Lu’s write-up on value investing in China here. Buy Poor Charlie’s Almanck here. Follow Clay on Twitter and LinkedIn. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ 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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

In this episode of the Bitcoin Fundamentals Podcast, Jimmy Soni, author of "A Mind at Play" and "The Founders," joins us to discuss the life and work of Claude Shannon. We explore Shannon's groundbreaking contributions to information theory, including the concept of entropy and its importance in data transmission. Jimmy explains how Shannon's work laid the foundation for many of the technologies we take for granted today, including Bitcoin and blockchain technology. We also touch on stories from "The Founders," highlighting the tech pioneers and their innovative contributions. Join us for an in-depth discussion on information theory, Bitcoin, and the history of technology. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:06 - The life and work of Claude Shannon, the father of information theory. 07:10 - The foundational role of Shannon's work in modern technology. 20:31 - The relevance of information theory to Bitcoin and blockchain. 20:52 - Stories from Jimmy Soni's book "The Founders" about tech pioneers. 28:58 - How Shannon's concept of entropy relates to data transmission. 32:52 - Insights into the problem-solving approaches of early tech innovators. 40:42 - How Bitcoin investors can apply Shannon's principles to their strategies. 55:16 - The impact of Shannon's interdisciplinary approach on his innovations. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Jimmy’s book, A Mind at Play. Jimmy’s Book, The Founders. Jimmy's X (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 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. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Vanta⁠ ⁠Unchained⁠ ⁠Netsuite⁠ ⁠Fundrise⁠ ⁠Shopify⁠ Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm