On today’s episode, Clay discusses various financial crises from the past as discussed in the book This Time is Different by Carmen Reinhart and Kenneth Rogoff.

As the saying goes, from a historical perspective, there is nothing new except what is forgotten. Today’s episode will help shed light on where our world might be heading in light of studying history.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

06:48 - The primary types of financial crises.

08:13 - When the debt levels of a country reach an unsustainable level.

27:00 - An overview of currency debasements and currency devaluations.

27:24 - How countries tend to handle unsustainable debt levels.

30:36 - An overview of the Great Financial Crisis.

47:32 - How the interests of governments and currency holders are at odds with each other.

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: This Time is Different, QGvBCZr-41I.UrvEnhn_1XRofj7XdIB0S_H24PxnuW4W12-OB304c1w&qid=1712838381&sr=8-1&linkCode=ll1&tag=tipnetwork-20&linkId=f54eca70f278a8a485f0638a3ce73e73&language=en_US&ref_=as_li_ss_tl">Broken Money, The Price of Tomorrow
• Episode Mentioned: TIP587: Stock Market Crises & Bubbles w/ Brendan Hughes | YouTube Video.
• Related Episode: TIP574: Broken Money w/ Lyn Alden | YouTube 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:
• River
• Toyota
• CI Financial
• Meyka
• Fundrise
• Yahoo! Finance
• Long Angle
• iFlex Stretch Studios
• Public
• American Express
• 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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

In our latest episode, we dive deep with Carlos Toriello into how Bitcoin’s OP_Return is pioneering election audits. We discuss transforming election skepticism into Bitcoin advocacy, highlighting Digital Witness's groundbreaking audit of Guatemala’s 2023 elections. Learn about Simple Proof, the OpenTimeStamps Protocol, and how these tools offer tamper-evident, verifiable documents, fostering trust and transparency. Join us in envisioning a future where digital integrity reshapes democracy.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:42 - The transformative potential of Bitcoin’s OP_Return for auditing elections and ensuring transparency.

02:08 - How Digital Witness became the first to verify all available election documents in Guatemala, promoting trust.

02:08 - The role of Simple Proof and Peter Todd’s OpenTimeStamps Protocol in creating tamper-evident election documents.

02:08 - Insights into the 2019 Guatemalan elections, showcasing real-world applications of blockchain for combating election fraud.

18:28 - The educational aspect of Fiscal Digital, introducing students to blockchain through gamified verification of election results.

28:23 - The concept behind "Immutable Democracy" and its implications for future election integrity.

35:34 - Recommendations for election system administrators worldwide on leveraging blockchain technology for transparency.

35:34 - A look forward to the 2027 elections and the potential for blockchain to revolutionize electoral processes further.

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

BOOKS AND RESOURCES

• Link to Seb’s book: The Hidden Cost of Money.
• 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 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:

• River
• Toyota
• CI Financial
• Meyka
• Fundrise
• Yahoo! Finance
• Long Angle
• iFlex Stretch Studios
• Public
• American Express
• Shopify

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

Kyle Grieve chats with Annie Duke about her own story of quitting and how it helped sparked the idea for one of her books, the importance of base rates in helping us make better decisions, how to improve our investing processes when we have long feedback loops, the importance of using kill criteria to quit an investment or hypothesis, how to use a quitting coach to help you quit things we hold onto for too long, the importance of dissociating ourselves from our most cherished ideas, and a whole lot more!

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:28 - Annie's own story of quitting and how it got here to where she is today.

15:50 - Why expected value is so crucial for investors to manage risk best.

20:15 - The importance of understanding base rates.

20:15 - How we can use base rates to help us best understand expected values of our investments.

24:55 - How we can reframe our analysis of a business to close feedback loops on long-term investments.

32:40 - How we can get transfer from one skill to another far away skill (e.g. chess to investing).

45:28 - How we can use kill criteria in our investing decision-making to improve our abilities to quit a losing investment.

45:28 - How to engineer your decision-making to give yourself an outside view.

51:11 - How we can disassociate ourselves from our investments to reduce the impacts of the endowment effects.

51:32 - How to set up a quitting coach by permitting them to disagree with you.

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 Quit: The Power of Knowing When to Walk Away VgEzQ.vIxrza9-xKBo9Bx5U2P_ePdr9BMjLLxZBcnJkvhFje4&dib_tag=se&keywords=annie+duke&qid=1712599853&sprefix=annie+duke%2Caps%2C253&sr=8-4&linkCode=ll1&tag=tipnetwork-20&linkId=8c6d0d73e5238823b82d0073d456bec3&language=en_US&ref_=as_li_ss_tl">here.
• Buy Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts VgEzQ.vIxrza9-xKBo9Bx5U2P_ePdr9BMjLLxZBcnJkvhFje4&dib_tag=se&keywords=annie+duke&qid=1712599853&sprefix=annie+duke%2Caps%2C253&sr=8-3&linkCode=ll1&tag=tipnetwork-20&linkId=9affad7d225e42b3e4766677e5d97e8a&language=en_US&ref_=as_li_ss_tl">here.
• Check out Annie’s substack here.
• Learn more about Annie Duke here.
• Related Episode: RWH015: Betting Better In Markets & Life w/ Annie Duke | YouTube video.
• Related Episode: TIP231: The Mind Of A World Poker Champion w/ Annie Duke | YouTube video.
• Learn more about the Berkshire Summit by clicking here or emailing Clay at clay@theinvestorspodcast.com.
• 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:

• River
• Toyota
• TurboTax
• Fidelity
• Monarch Money
• Meyka
• Simon & Schuster
• CI Financial
• Vacasa
• Long Angle
• Fundrise
• iFlex Stretch Studios
• American Express
• 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, Clay sits down with Joseph Shaposhnik to discuss his high quality investing approach. Since its inception in 2015, the TCW New America Premier Equities fund has compounded at 15.8% per year versus the benchmark of 12.0%.

Joseph is the Portfolio Manager of TCW New America Premier Equities, Global Premier Sustainable Equities, and Global Space Technology Equities portfolios. According to Nasdaq eVestment, the TCW New America fund has outperformed 99% of its peers.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:25 - The two types of recurring revenue.

13:37 - Why certainty is an essential part of a quality investing framework.

25:02 - How Joseph thinks about portfolio allocation by industry.

28:02 - Value accretive versus value destructive capital allocation decisions.

36:09 - How understanding incentives can make us better investors.

36:53 - Why we should ignore Buffett’s advice of buying businesses so great that an idiot can run it.

46:33 - How Joseph developed his own investment approach after working under two investment legends at Fidelity.

51:56 - Why Joseph believes that quality investing is the best approach to match his investment objectives and temperament.

58:33 - Why growth in free cash flow per share is Joseph’s number one focus as an investor.

1:00:28 - An update on a few of Joseph’s portfolio holdings

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

BOOKS AND RESOURCES

• Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
• Learn more about the TCW New America Fund.
• Check out Buffett’s 1996 Shareholder Letter.
• Book Mentioned: What I Learned About Investing from Darwin by Pulak Prasad.
• Book Mentioned: TRGtO4OMh9Iq7nXFSwJhQhAj2JYA8ZSp6Sf9UMw.EWr4IMrkdVli7hXZ4QTb2zV1UiShlqPalIOmjyqcO8k&dib_tag=se&keywords=joel+tillinghast&qid=1712333502&sprefix=joel+tillingha%2Caps%2C137&sr=8-1&linkCode=ll1&tag=tipnetwork-20&linkId=f079a485b7e6db156f435124172457dc&language=en_US&ref_=as_li_ss_tl">Big Money Thinks Small by Joel Tillinghast.
• Episode Mentioned: RWH017: Fidelity Legend w/ Joel Tillinghast | YouTube Video.
• Follow Joseph on LinkedIn. 
• 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:

• River
• Toyota
• TurboTax
• Fidelity
• Monarch Money
• Meyka
• Simon & Schuster
• CI Financial
• Vacasa
• Long Angle
• Fundrise
• iFlex Stretch Studios
• American Express
• 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

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, Max Kei from Hodl Hodl and Debifi, explores the future of Bitcoin lending and borrowing. From industry insights to Debifi's innovative approach, discover the benefits of Bitcoin collateral, multisig security, and fiat loan expansion. Gain valuable perspectives on navigating risks and seizing opportunities in decentralized finance.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:48 - Insights into the evolution of Bitcoin borrowing and lending platforms.

01:48 - Understanding the importance of peer-to-peer fully collateralized lending in the cryptocurrency space.

13:56 - Exploration of the risks and benefits associated with borrowing and lending using Bitcoin as collateral.

28:18 - Overview of Debifi's approach to decentralized lending and its unique features.

31:05 - Explanation of the concept of "super collateral" and its significance in Bitcoin lending practices.

31:05 - Understanding how multisig solutions enhance security in Bitcoin lending and borrowing.

55:02 - Preview of the expansion of fiat loans on Debifi and its implications for users.

59:25 - Insights into the potential benefits for users when utilizing a decentralized lending model.

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

BOOKS AND RESOURCES

• Max's Twitter Account.
• Link to Debifi.
• Link to Hodl Hodl.
• 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 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:

• River
• Toyota
• TurboTax
• Fidelity
• Monarch Money
• Meyka
• Simon & Schuster
• CI Financial
• Vacasa
• Long Angle
• Fundrise
• iFlex Stretch Studios
• American Express
• Shopify

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

Kyle Grieve chats with Lawrence Cunningham about Lawrence’s fascination with Warren Buffett and Berkshire Hathaway, why corporate governance is so crucial for shareholders to understand, the power of transparency, accountability, and ethical decision-making, how Warren Buffett created his shareholder letters to create a competitive advantage, a list of some incredible businesses to research to understand best top-notch corporate governance, the makeup of a successful incentive program and a whole lot more!

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:02 - How corporate governance protects shareholders.

06:53 - Why Warren Buffett has created a competitive advantage by writing his shareholder letters the way he does.

09:54 - A few businesses that have excellent corporate governance that investors should research.

13:35 - Lessons from Charlie Munger and Philip Fisher that helped Warren better understand quality.

29:39 - How Warren's alignment with shareholders is such a competitive advantage.

30:07 - Why Berkshire is such an attractive buyer compared to alternatives.

33:04 - A breakdown of some simple and complicated investments Warren has made using the 1-foot and 7-foot hurdle analogy.

40:41 - The ABCs of capital allocation and why all board members should understand them deeply.

46:27 - How Warren tracks intrinsic value for different business models and why you should utilize multiple tools.

56:32 - Why it's so hard for most companies to have shareholder-friendly incentive programs.

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 The Essays Of Warren Buffett: Lessons For Corporate America here.
• Buy Dear Shareholder: The best executive letters from Warren Buffett, Prem Watsa and other great CEOs here.
• Check out Lawrence’s other books here.
• Related Episode: MI305: Exploring The DNA of Quality Businesses w/ Lawrence Cunningham | YouTube Video.
• Related Episode: TIP330: Warren Buffett w/ Lawrence Cunningham | YouTube Video.
• Learn more about the Berkshire Summit by clicking here or emailing Clay at clay@theinvestorspodcast.com.
• 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:

• River
• Toyota
• TurboTax
• Fidelity
• Monarch Money
• Meyka
• Simon & Schuster
• CI Financial
• Vacasa
• Long Angle
• Fundrise
• iFlex Stretch Studios
• American Express
• 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

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 his lessons from reading The Intelligent Investor by Benjamin Graham.

Benjamin Graham was a renowned value investor, lecturer, financial securities researcher, and mentor to billionaire investor Warren Buffett. Graham is widely regarded as the father of value investing.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:11 - Who Benjamin Graham was.

06:16 - How the intelligent investor seeks to capitalize on market fluctuations.

16:17 - The Intelligent Investor’s biggest advantage in the markets.

30:47 - The concept of the Margin of Safety.

34:55 - Benjamin Graham’s investment principles.

37:54 - A case study of Mr. Market’s mood swings in the 1999-2000 tech bubble.

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.
• Episode Mentioned: RHW004: Intelligent Investing w/ Jason Zweig | YouTube Video.
• Episode Mentioned: TIP597: Darwin's Investing Lessons w/ Kyle Grieve | YouTube Video.
• Benjamin Graham’s book: The Intelligent Investor.
• 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:

• River
• Toyota
• TurboTax
• Fidelity
• Monarch Money
• Meyka
• Simon & Schuster
• CI Financial
• Vacasa
• Long Angle
• Fundrise
• iFlex Stretch Studios
• American Express
• 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

Learn more about your ad choices. Visit megaphone.fm/adchoices

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

Jim Crider explores Bitcoin's impact on culture, future financial strategies, and the essence of money, highlighting its role in investment vs. speculative cycles, and ETF strategies. He also addresses financial planning with Bitcoin for different life stages, emphasizing the importance of understanding money beyond its face value.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:29 - The key aspects of Bitcoin that most people overlook and why they're crucial for understanding its value.

12:38 - How to educate clients on the true essence of money, combining its technical definition with its value-based aspects.

17:04 - How Bitcoin is expected to influence cultural and societal norms in the next two decades.

32:41 - Financial planning opportunities with Bitcoin for young families and retirees, highlighting commonly overlooked advantages.

36:57 - Strategies for integrating Bitcoin into fixed income portfolios to prepare for future financial shifts.

58:04 - The distinction between speculative and investment cycles in the context of Bitcoin and broader financial markets.

01:06:03 - The differences and benefits of in-kind versus cash creation in ETFs, and the implications for investors.

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

BOOKS AND RESOURCES

• Jim Crider's Twitter.
• Jim Crider’s Financial Advisory firm: Intentional Living.
• 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 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:

• River
• Toyota
• TurboTax
• Fidelity
• Monarch Money
• Meyka
• Simon & Schuster
• CI Financial
• Vacasa
• Long Angle
• Fundrise
• iFlex Stretch Studios
• American Express
• 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

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, Kyle Grieve discusses the book Cable Cowboy: John Malone and the Rise of the Modern Cable Business. He covers why and how John Malone was such a prodigious creator of value, how he aligned himself with shareholders, how he helped build his monopoly-like business, TCI, how he dealt with competitors and regulators, why he trained Wall Street to see value differently, why Malone despised paying taxes, how Malone engineered deals to enrich himself and shareholder simultaneously, and much more!

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

07:41 - Why John Malone chose to work for TCI at a significant discount

09:52 - How Malone kept costs down to maximize cash flow

16:24 - How John Malone used his knowledge of scale and leverage to build TCI

19:08 - How John created his accounting terms to best display TCI's abilities to create value

27:57 - How Malone used his scale advantages to secure better rates from programmers

36:34 - The monopoly-like power that TCI could yield that featured its bargaining power

38:17 - How Malone created life-changing wealth for himself from the Liberty Media spin-off

42:54 - Why John invented the 500-channel offering and how it protected the cable industry

45:51 - Malone's tactics to try and divert attention away from TCI's monopoly-like power

50:58 - How John Malone quickly improved TCI's financial statements through industry consolidation

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.
• Get Cable Cowboy here
• Learn more about the Berkshire Summit by clicking here or emailing Clay at clay@theinvestorspodcast.com
• 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:

• River
• Toyota
• TurboTax
• Fidelity
• Monarch Money
• Meyka
• Simon & Schuster
• CI Financial
• Vacasa
• Long Angle
• Fundrise
• iFlex Stretch Studios
• American Express
• 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

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 Stig discuss the performance of Stig’s portfolio over the past 10 years and what he has learned from managing his portfolio over that time.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:02 - How Stig’s portfolio has performed over the past 10 years.

06:29 - Why Stig invested with Mohnish Pabrai.

28:32 - How private investments fit into Stig’s portfolio.

33:53 - Stig’s biggest investment mistakes.

40:17 - Why investing in Alibaba was a mistake.

46:21 - Stig’s biggest winners.

58:32 - How his approach has changed over the years.

1:08:46 - Whether TIP will ever launch a fund.

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.
• Learn more about The Berkshire Summit.
• Track your portfolio with Sharesight.
• William’s book: y5r3fhIeLMziHajP2Eppn5WJpNHo.MvNVgm-IBRLFfvpK50e06vNol3hVjWQiYcku5AHVBIs&qid=1711121339&sr=8-1&linkCode=ll1&tag=tipnetwork-20&linkId=d20579301450bc639a0ffb4d9287bf5f&language=en_US&ref_=as_li_ss_tl">Richer, Wiser, Happier.
• Episode Mentioned: TIP442: Investing in Stocks w/ Mohnish Pabrai | YouTube Video.
• Episode Mentioned: TIP606: Multi-Bagger First Principles w/ Ian Cassel | YouTube Video.
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