We Study Billionaires - The Investor’s Podcast Network

In this episode, Sam Callahan and the host explore key developments in the Bitcoin ecosystem, including BlackRock’s statement on allocation, Marathon Digital’s impressive Bitcoin strategy, and Bitcoin’s positioning as digital gold. The conversation also touches on geopolitical impacts with BRICS, U.S. policies, and Michael Saylor’s vision for Bitcoin's corporate adoption. Additionally, Sam shares insights on health and fitness for a balanced lifestyle. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:25 - Why BlackRock considers a 2% Bitcoin allocation reasonable. 06:14 - How Marathon Digital leads the Bitcoin mining space with 6% of the hashing network. 17:14 - Jerome Powell’s statement on Bitcoin as a competitor to gold. 19:36 - The geopolitical implications of Bitcoin in the context of BRICS and U.S. trade policies. 26:35 - Trump administration's stance on cryptocurrency, with Scott Bessent as Treasury Secretary. 31:30 - The paradox of meme coins like DOGE in the crypto space. 41:16 - Insights from Michael Saylor’s presentation to Microsoft’s board about Bitcoin adoption. 48:32 - Why diet is the key to fitness success, with minimal cardio requirements. 50:20 - The importance of resistance training and viewing carbs as sugar for effective nutrition. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Sam Callahan on X. Sam’s and Natalie Brunell’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 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 Fundrise 7-Eleven The Bitcoin Way Onramp Public Vanta ReMarkable Connect Invest SimpleMining Miro Shopify 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 is joined by co-host Clay Finck to summarize key learnings from 2024. We chat about the importance of focus and avoiding confusing noise, data that shows how difficult individual stock picks are to succeed in, why you should welcome disconfirming evidence, the impermanence of seemingly impenetrable businesses, how to close feedback loops to ensure investments are on the right track, the importance of being trustworthy and reliable, and much more! IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 03:11 - Why investors need to focus on the things that matter and how to avoid spending time on noise. 09:19 - Why investors should be aware of the base rates of success of investing in individual stocks (hint, making money is a lot harder than you think). 25:42 - How you can utilize and search out disconfirming evidence to improve your thinking processes. 29:46 - The impermanence of business success and the importance of updating your thinking when new information becomes available. 33:00 - The three sources of investing returns that drive the performance of a stock. 42:53 - How to use punctuated equilibrium to be active at the correct times and inactive at the proper times. 50:52 - Critical lessons on how to close feedback loops for long-term investors. 1:00:29 - How to utilize the "cone of uncertainty" to signal conviction in great ideas. 1:02:49 - Why a great business can still have times of high uncertainty. 1:07:00 - The importance of being trustworthy and reliable. 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. Listen to Clay’s interview with Chris Mayer here | YouTube Video. Listen to Clay’s interview with Hendrick Bessimbinder here | YouTube Video. Listen to William Greens’ interview with Bryan Lawrence here | YouTube Video. Listen to Clay’s interview with Morgan Housel here | YouTube Video. Listen to Clay’s interview with John Huber here | YouTube Video. Listen to Kyle’s review of What I Learned About Investing From Darwin here | YouTube Video. Listen to Kyle’s interview with Annie Duke here | YouTube Video. Listen to Kyle’s review of the Nomad Partnership Letters here | YouTube Video. Listen to Stig’s interview with Mohnish Pabrai here | YouTube Video. 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 7-Eleven Connect Invest Bluehost The Bitcoin Way ReMarkable SimpleMining American Express Public Fundrise Toyota Onramp Vanta 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! 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 invites Stig Brodersen to discuss current market conditions and one of Stig’s favorite books — Poor Charlie’s Almanack. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:23 - How Stig and Clay think about today’s market. 08:02 - Why we expect the stock market to continue to hit new all-time highs. 08:02 - How Stig is protecting himself against potential inflation going forward. 39:49 - Why Stig re-reads Poor Charlie’s Almanack each year. 49:55 - The psychological biases we need to be mindful of. 01:02:14 - How the endowment effect can be detrimental to our portfolio’s returns. 01:11:45 - How we can apply Munger’s principle of inversion to our lives and our portfolios. 01:27:00 - How you can attend the live events TIP is hosting in Omaha during the Berkshire weekend. 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. Book discussed: Poor Charlie's Almanack. Join our highly vetted community of value investors here. Check out Stig’s portfolio here. Email Shawn at shawn@theinvestorspodcast.com to attend our free events in Omaha or visit this page. 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 7-Eleven Connect Invest Bluehost The Bitcoin Way ReMarkable SimpleMining American Express Public Fundrise Toyota Onramp Vanta 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 Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Jeff Ross, American Hodl, and Joe Carlasare discuss Bitcoin’s historic price surge to $96,000, the influence of Donald Trump's re-election on crypto policy, and global proposals for Bitcoin reserves. Topics include regulatory challenges, institutional inflows, and game-changing corporate strategies. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 06:58 - Why experts believe $96,000 may not be the top for Bitcoin. 14:10 - The potential impact of Trump’s re-election on U.S. Bitcoin policy. 11:06 - How countries like Brazil and the U.S. are exploring Bitcoin as a strategic reserve asset. 17:38 - The global regulatory landscape: Russia’s legalization and China’s possible policy shifts. 30:57 - Nic Carter’s insights into Chokepoint 2.0 and its implications for crypto innovation. 31:19 - The FDIC’s controversial handling of crypto-friendly banking products. 31:37 - How "pause letters" have stifled crypto innovation in traditional finance. 41:31 - The surge in institutional adoption, including ETF investments and corporate treasury moves. 48:07 - Microstrategy's influence on corporate debt and treasury strategies. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Related Episode: Bitcoin Mastermind 3rd Quarter 2024. Related Episode: Base Fiat Money and Bitcoin w/ Matthew Mežinskis. Related Episode: Jack Mallers on Bitcoin 2025 Expectations. American Hodl on Nostr. Jeff Ross on Nostr. Joe Carlasare on X (Twitter), 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. SPONSORS Support our free podcast by supporting our sponsors: River Toyota 7-Eleven Connect Invest Bluehost The Bitcoin Way ReMarkable SimpleMining American Express Public Fundrise Toyota Onramp Vanta Shopify 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 explores the life of Charlie Munger, drawing insights from his biography Damn Right!. He’ll cover Charlie’s similarities and differences with Benjamin Graham, the value of dedicating an hour a day to thinking, the role of decisiveness and conviction in transformative investments, and how independent thinking shaped his life. Plus, he’ll discuss lessons from his days practicing law, key takeaways from his investment partnership, and much more! IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 03:25 - How Charlie Munger’s approach to investing was more similar to Benjamin Graham than most think. 13:08 - How selling himself just one hour a day transformed Charlie’s thinking. 14:36 - Learn about Charlie’s multi-billion-dollar missed opportunity. 25:22 - Lessons from Munger’s legal career on working with people you like and how that shaped his investing strategy. 32:15 - Insights from Munger’s Investment Partnership: what worked, what didn’t, and why. 33:13 - What Munger and Benjamin Graham can teach you about the power of independent thinking. 42:22 - Why highly concentrated portfolios thrive in bull markets but face unique challenges in bear markets—and why they’re not for everyone. 53:21 - Why owning a high-quality business is not just profitable but also less stressful—and infinitely more enjoyable. 01:00:55 - Discover why Berkshire Hathaway never having a grand plan was a massive advantage. 01:03:20 - How Munger approached capital allocation and his contrarian views on the cost of capital. 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 Damn Right! Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger 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: River Toyota Connect Invest TastyTrade The Bitcoin Way Public Fundrise American Express Miro ReMarkable Onramp SimpleMining Bluehost Vanta 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 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, Clay reviews Brett Gardner’s new book, Buffett’s Early Investments. Brett is an Analyst at Discerene Group LP, a private investment partnership that invests globally based on a fundamental and long-term value investing philosophy. Like us here at TIP, Brett is also a huge fan of Warren Buffett. During Buffett’s early partnership years from 1957 to 1969, he compounded his investors’ capital at 23.8% net of fees relative to the Dow Jones, returning just 7.4%. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:14 - The primary factors that led to Buffett’s outperformance during early investing years. 06:09 - The parallels between Buffett’s investment in Philadelphia and Reading and how he ended up transforming Berkshire Hathaway in the years that followed. 27:15 - What led Buffett to make an unconventional bet on Disney in 1966. 43:55 - Why Buffett invested in American Express after the Salad Oil Scandal. 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. Gardner’s book: Buffett's Early Investments. Email Shawn at shawn@theinvestorspodcast.com to attend our free events in Omaha or visit this page. Related Episode: Listen to TIP573: Berkshire's Beginnings w/ Jacob McDonough, 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: River Toyota Connect Invest TastyTrade The Bitcoin Way Public Fundrise American Express Miro ReMarkable Onramp SimpleMining Bluehost Vanta 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 Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Jack Mallers joins to discuss Bitcoin’s evolving landscape, from the potential for strategic reserves to regulatory shifts and exciting advancements in Lightning and Strike’s new working capital feature. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 06:12 - The potential reality of a Bitcoin strategic reserve. 07:38 - Insights into the rumored $2 billion Bitcoin deposit by the U.S. government. 14:36 - What Operation Chokepoint 2.0 could mean for Bitcoin and crypto regulations. 17:55 - How regulatory changes might unfold under a new administration. 19:47 - Details about Strike's new feature enabling Bitcoin as a working capital account. 26:51 - Why integrating Bitcoin savings with fiat spending is becoming seamless. 27:26 - Possibilities of tax-free Bitcoin gains in the U.S. 32:53 - How Wall Street’s perception of Bitcoin is evolving. 35:38 - MicroStrategy's influence on corporate treasury strategies globally. 50:40 - Exciting Lightning Network advancements and their role in bridging crypto and traditional finance. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES 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? 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: River Toyota Connect Invest TastyTrade The Bitcoin Way Public Fundrise American Express Miro ReMarkable Onramp SimpleMining Bluehost Vanta Shopify 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 Evolution is one of them. Hari’s pick, Occidental Petroleum, a stock Buffett has recently added to, and Tobias pitches Alpha Metallurgical Resources, a value stock that Mohnish Pabrai has loaded up on. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:34 - What to make of Berkshire’s $300B+ cash pile 33:16 - Stig’s bull case is for Evolution (Ticker on the Swedish Stock Exchange: EVO) 41:03 - The bear case for Evolution, including why their margins will likely decline 44:02 - Why Hari is bullish on Occidental Petroleum (Ticker on NYSE: OXY) 47:44 - The bear case of Occidental Petroleum, including macro headwinds 56:46 - Why Toby has invested in Alpha Metallurgical Resources (Ticker on NYSE: AMR) 1:06:28 - The bear case for Alpha Metallurgical Resources, including the role of China 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 Q3 2024 or watch the video. Listen to Mastermind Discussion Q2 2024 or watch the video. Tune in to the Mastermind Discussion Q1 2024 or watch the video. Listen to Mastermind Discussion Q4 2023 or watch the video. Tune in to the Mastermind Discussion Q3 2023 or watch the video. Listen to Mastermind Discussion Q2 2023 or watch the video. Tune in to Mastermind Discussion Q1 2023 or watch the video. Stig Brodersen’s Portfolio and Track record. Occidental Petroleum’s 2023 annual report. 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: River Toyota Connect Invest TastyTrade Miro American Express The Bitcoin Way Public Fidelity Fundrise Onramp SimpleMining ReMarkable Vanta 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! 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 Dev Kantesaria to discuss the current market environment, the types of investments he is looking for, FICO, S&P Global, and much more. Dev is the founder and portfolio manager at Valley Forge Capital Management. The firm has been highly successful since its inception in 2007, as it’s outperformed the S&P 500 by a wide margin and has over $4 billion in assets under management. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:46 - Dev’s view on the current market environment and the recent stock market rally. 05:02 - How Valley Forge Capital Management adopted Warren Buffett and Charlie Munger’s investment approach. 09:16 - Why predictability is an essential part of Dev’s investment approach. 11:32 - Why Dev has decided not to invest in any Big Tech companies. 37:11 - Why pricing power is the hallmark of a great business. 53:30 - Why Dev will continue to invest in the US despite optically higher valuations. 56:59 - The reason Dev loves compounding machines that perform share repurchases. 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 Valley Forge Capital Management. Related Episode: Listen to TIP389: Buffett's Core Principles w/ Dev Kantesaria, 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: River Toyota Connect Invest TastyTrade Miro American Express The Bitcoin Way Public Fidelity Fundrise Onramp SimpleMining ReMarkable Vanta 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 Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Exploring the art world with Tad Smith, former CEO of Sotheby’s, as we uncover the intersection of art, Bitcoin, and investment strategies. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:28 - The significance behind the $6.2M sale of a banana duct-taped to a wall. 08:07 - How stories shape the perception and value of art investments. 08:46 - What makes artwork valuable beyond its aesthetic appeal. 14:54 - Why scarce and desirable items tend to accrue lasting value. 23:20 - Whether and how investors market stories to amplify art's value post-purchase. 24:13 - The role of Bitcoin’s proof of work in distinguishing it from other protocols. 27:04 - How tokenization is transforming the art world. 33:56 - The historical role of leverage in outpacing inflation and the "money printer." 38:12 - Insights into Michael Saylor’s strategy with MicroStrategy. 47:50 - Key considerations for investing in art from a professional standpoint. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Tad’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: River Toyota Connect Invest TastyTrade Miro American Express The Bitcoin Way Public Fidelity Fundrise Onramp SimpleMining ReMarkable Vanta Shopify 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 special episode, William Green looks back at some of the most powerful lessons from the first 50 episodes of the podcast. He highlights four of his favorite interviews: with multibillionaire Ray Dalio, Berkshire Hathaway board member Chris Davis, investing legend Bill Miller, & author Michael Berg. Here, Dalio discusses how to overcome our weaknesses; Miller reveals the insights that made him a vast fortune on Bitcoin; Davis shares what he’s learned from Buffett & Munger; & Berg explains how to increase your enjoyment of money. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 06:37 - Why Ray Dalio believes success hinges on deep self-knowledge. 09:11 - How he’s dealt with his own weaknesses. 10:44 - What Elon Musk, Bill Gates, Reed Hastings & Ray Dalio have in common. 13:46 - How Ray’s most painful mistake changed his views on investing & life. 29:07 - What Chris learned from his mentors, Warren Buffett & Charlie Munger. 30:13 - Why it helps Chris Davis to view his life in three distinct 10,000-day blocks. 44:47 - What Bill Miller saw in Bitcoin that led him to make a vast fortune. 49:32 - Why Bill sees Bitcoin as insurance against financial catastrophe. 1:04:06 - What biases, beliefs & blind spots led Buffett & Munger to dismiss Bitcoin. 1:06:35 - How to enhance your enjoyment of money. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES William Green’s 2023 interview with Ray Dalio | YouTube Video. William Green’s 2022 interview with Ray Dalio | YouTube video. Check out Principles: Your Guided Journal by Ray Dalio. Read Principles: Life and Work by Ray Dalio. William Green’s interview with Chris Davis | YouTube Video. William Green’s interview with Michael Berg | YouTube Video. William Green’s interview with Pico Iyer | YouTube Video. William Green’s interview with Tsoknyi Rinpoche & Daniel Goleman | YouTube Video. 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: River Toyota Public Fundrise TastyTrade The Bitcoin Way Connect Invest American Express ReMarkable Toyota Onramp Facet SimpleMining Vanta 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! Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Anyone can buy a stock in a public company, but not all shareholders are equally committed to a company’s long-term succes. Today’s companies need quality shareholders, or shareholders who buy large stakes and hold for long periods. Lawrence Cunningham explains why in his book — Quality Shareholders: How the Best Managers Attract and Keep Them. When it comes to corporate governance, there is no one better to learn from than Lawrence. He’s the Director of the John Weinberg Center for Corporate Governance at the University of Deleware. He’s also the vice chairman of the board of Constellation Software and a Director at Markel and Kelly Partners Group. Cunningham has also written a number of other excellent books, including Quality Investing, Berkshire Beyond Buffett, Margin of Trust, and The Essays of Warren Buffett. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:33 - What constitutes a quality shareholder versus other types of shareholders? 17:18 - The edge that quality shareholders bring in terms of their investment approach. 24:37 - How quality shareholders impact the share prices of public companies. 43:02 - What managers can do to attract and retain such shareholders. 43:02 - How quality shareholders view executive compensation. 54:52 - The number one job of the board in delivering value to shareholders. 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. Cunningham’s books: Quality Shareholders, Berkshire Beyond Buffett, Dear Shareholder, Margin of Trust, Quality Investing, and The Essays of Warren Buffett. Email Shawn at shawn@theinvestorspodcast.com to attend our free events in Omaha or visit this page. Related Episode: Listen to MI305: Exploring the DNA of Quality Businesses w/ Lawrence Cunningham, or watch the video. Related Episode: Listen to TIP330: Warren Buffett w/ Lawrence Cunningham, or watch the video. Related Episode: Listen to RWH013: Move Slow, Win Big w/ Thomas Russo, or watch the video. Related Episode: Listen to TIP626: Intelligent & Rational Long-term Investing w/ François Rochon, or watch the video. YouTube Interview with Brett Kelly. Alex Morris’s new book: Buffett & Munger Unscripted. 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 Public Fundrise TastyTrade The Bitcoin Way Connect Invest American Express ReMarkable Toyota Onramp Facet SimpleMining Vanta 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 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 Bitcoin, on-chain analysis, and future adoption trends, exploring topics from OTC exchanges to Bitcoin’s price potential and regulatory impacts. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:47 - Why Bitcoin exchange balances have declined and what this signals. 03:28 - Why Australian Bitcoiners are prominent despite lagging national adoption. 07:10 - The role of OTC exchanges in today’s BTC transactions. 11:04 - Whether on-chain analysis remains relevant amid OTC and ETF purchases. 16:46 - Insights gained from on-chain data and UTXO analysis. 20:57 - How technical analysis is perceived in the crypto community. 27:54 - Key headwinds Bitcoin may face over the next two years. 30:58 - Potential market impact if the US attempted large-scale BTC purchases. 31:24 - Thoughts on the premium valuation for MicroStrategy (MSTR). 42:31 - Implications of super cycle theory for Bitcoin's long-term value. 49:15 - Potential effects if Satoshi Nakamoto moved Bitcoin from dormant wallets. 52:12 - Theories surrounding Bitcoin's Power Law and Stock-to-Flow model. 54:11 - What constitutes an "Euphoria Zone" in the crypto market today. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES James Check's X (Twitter) Account. James Check'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 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 Public Fundrise TastyTrade The Bitcoin Way Connect Invest American Express ReMarkable Toyota Onramp Facet SimpleMining Vanta Shopify 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 major takeaways from the book The Warren Buffett Portfolio, including why concentrated portfolios offer the highest probabilities of outperforming, how focus investors think about risk, Warren Buffett’s four-step framework for identifying great investments, the importance of patience, discipline, and self-awareness to investing success, how to widen your circle of competence, why thinking in probabilities is intertwined with outperfrmance and risk reduction, and a whole lot more! IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:53 - The reasons that focus investors are concentrated and the pros and cons of having a concentrated portfolio. 07:12 - Buffett's views on risk and what risk means to him. 08:42 - Warren Buffett's 4-step framework to determine whether an investment is rational. 13:16 - The shared characteristics of these five investors, which helped them overperform. 14:51 - Exciting research on the effects of concentrating your portfolio on long-term performance. 22:35 - How to measure your performance using fundamentals instead of stock prices. 30:15 - Simple ways to widen your circle of competence. 39:01 - Why you should think in probabilities when thinking about investing and practical ways of applying it to your investing. 50:20 - The primary principles Warren Buffett learned from Benjamin Graham and Charlie Munger to best understand human psychology in markets. 55:26 - The roles of overconfidence, overreaction, loss aversion, and mental accounting have on investor psychology. 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 Warren Buffett Portfolio 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? 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 7-Eleven Toyota Daloopa TastyTrade The Bitcoin Way Connect Invest Fundrise American Express Miro Onramp Public Facet SimpleMining Bluehost ReMarkable Vanta 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 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 Roger Fan to discuss Joel Greenblatt’s book, “You can be a Stock Market Genius.” Joel Greenblatt is one of the greatest hedge fund managers of all time. Greenblatt famously averaged 40% a year over 20 years. At that rate, $1 million grows into $836 million. He’s also the author of best-selling classics like “The Little Book that Beats the Market” and was a key character in William Green’s book, “Richer, Wiser, Happier.” Roger Fan is the Chief Investment Officer at RF Capital Management. RF Capital seeks to achieve superior risk-adjusted returns by investing in obscure, undervalued companies globally. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:22 - An overview of Joel Greenblatt’s background as an investor, author, teacher, and philanthropist. 06:22 - Why Greenblatt focused much of his attention on special situations to beat the market. 10:47 - What a spinoff is and why they are ripe hunting grounds for mispricings. 19:04 - One of Greenblatt’s favorite case studies for spinoffs. 21:01 - The three key characteristics to look for in a spinoff transaction for investors. 33:50 - How Joel Greenblatt views investing in bankruptcy deals. 58:50 - Which special situations Roger prefers to invest in. 01:11:03 - How Roger approaches concentration in 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. Roger’s Firm: RF Capital Management. Joel Greenblatt’s books: You Can Be a Stock Market Genius, The Little Book That Beats the Market. Related Episode: RWH003: How To Win The Investing Game w/ Joel Greenblatt. Related Episode: TIP339: Common Sense Investing w/ Joel Greenblatt. Follow Roger on Twitter & 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 7-Eleven Toyota Daloopa TastyTrade The Bitcoin Way Connect Invest Fundrise American Express Miro Onramp Public Facet SimpleMining Bluehost ReMarkable Vanta 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 Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Exploring Bitcoin's Future as Both Store of Value and Medium of Exchange with Roy Sheinfeld, CEO of Breez, a leader in Bitcoin's Lightning Network. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:22 - How Breez uses the Lightning Network to enable seamless Bitcoin transactions. 04:50 - Challenges and solutions to improving Bitcoin’s user experience for mainstream adoption. 08:47 - Why Roy Sheinfeld believes Bitcoin must function as both a store of value and a medium of exchange. 18:54 - The long-term vision for Breez as a driver of global financial freedom. 27:17 - Roy's perspectives on Bitcoin’s evolution and its competition with fiat currencies. 31:25 - Practical advice for developers aiming to build on Bitcoin. 39:11 - The ways Breez’s SDK empowers developers and businesses to integrate Bitcoin functionality. 43:49 - How Breez’s nodeless design simplifies access to Bitcoin for both developers and users. 50:22 - Insights from Breez’s partnership with Yopaki in Mexico, showcasing Bitcoin’s impact in underserved regions. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Roy Steinfield’s X (Twitter) Account. Breez 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 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 7-Eleven Toyota Daloopa TastyTrade The Bitcoin Way Connect Invest Fundrise American Express Miro Onramp Public Facet SimpleMining Bluehost ReMarkable Vanta Shopify 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 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

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: River Toyota Range Rover Fundrise AT&T The Bitcoin Way USPS American Express Onramp SimpleMining Public Vacasa 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 Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member!...

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: River Toyota Range Rover Vacasa AT&T The Bitcoin Way USPS American Express Onramp Found SimpleMining Public 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!...