We Study Billionaires - The Investors Podcast

IN THIS EPISODE, YOU'LL LEARN: 01:38 - Why top-line growth was more important than profits in the prior decade for US shale producers. 05:37 - Why we have a boom and bust cycle in the oil market. 15:31 - Lyn’s thoughts on Warren Buffett’s investments in Chevron and Occidental Petroleum. 22:40 - What the OPEC+ cut mean for the oil market. 22:55 - What can the west do to lower the price of oil. 32:36 - Whether inflation can be fixed without fixing the energy markets. 38:47 - What happens if the inflation target of 2% changes.  42:49 - Why the FED counterintuitively is not pushing down the bond yields. 58:09 - What Powell should do dependent on what he wants to achieve. 58:42 - What it means that the US is exporting inflation. 1:03:22 - Why the currencies of many emerging economies are appreciating and the Euro, Pound, and Yen are not. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to

IN THIS EPISODE, YOU'LL LEARN: 08:06 - How today’s economy compared to the early eighties when Bernie was co-founding Home Depot. 14:11 - Bernie’s early jobs as a waiter, comedian, and even hypnotist. 37:15 - Bernie’s take on ESG, given that Home Depot, won the Most Socially Responsible Company award the year he retired 40:02 - What it was like to travel around and sharing business tips with Sam Walton. 54:11 - Lessons from philanthropic efforts in integrative medicine and the Georgia Aquarium. And much, 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, and the other community members. Kick Up Some Dust Book. Built from Scratch Book. Trey Lockerbie Twitter. SPONSORS Support our free podcast by supporting our sponsors: River Toyota Sun Life AFR The Bitcoin Way AT&T Sound Advisory Industrious Range

IN THIS EPISODE, YOU’LL LEARN: 01:13 - Austin Mitchell's Background and research in the energy sector. 10:40 - What problems do energy companies currently deal with that Bitcoin can potentially solve? 31:08 - What does the potential future with Bitcoin look like with energy companies? 35:13 - How does the lightning network offer solutions in the energy sector? 36:35 - Use cases and specific problems around the world where Bitcoin is currently offering a solution. 48:02 - What is his company Synota currently working on to solve these problems? 51:24 - How does Austin's company currently try to tackle the issues at hand? Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Austin's Company: Synota. Austin Mitchell's Twitter. Austin's Article: Towards a Future of Energy Abundance. SPONSORS

IN THIS EPISODE, YOU'LL LEARN: 06:31: - The opportunities and risks of investing in Dollar General & Apple. 07:34 - Clay’s assessment of the intrinsic value of Dollar General & Apple. 08:55 - What Dollar General’s catalysts for future growth will be, and why their growth may just be getting started. 17:55 - Why Dollar General should weather through a recession relatively well. 31:01 - Why Warren Buffett loves Apple as an investment, and why it is his largest stock position. 35:46 - A breakdown of Apple’s business segments. 57:57 - Why it’s important to have a long-term mindset as a value investor. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Listen to Clay’s previous episode covering Warren Buffett's 12 Investment Principles. William Green's book - Richer, Wiser, Happier. Robert

IN THIS EPISODE, YOU’LL LEARN: 02:41 - Where the economy is heading, now that credit growth has been reversed. 07:29 - The steep decline in the treasury markets around the world and what’s driving it. 14:09 - England's pension plan fiasco. 29:23 - Why the FED’s net income has turned negative for the first time ever and how it can be reversed if politicians understand the mechanics Richard lays out. 59:14 - The $280B Chips & Science Act that was recently signed into law. And much, 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, and the other community members. Richard Duncan's Website. Macro Watch's Website. The Money Revolution Book. Trey Lockerbie Twitter Related Episode: How To Finance The Next American Century W/ Richard Duncan - TIP424. Related Episode: Has Inflation Peaked? W/ Richard Duncan - TIP

IN THIS EPISODE, YOU’LL LEARN: 01:22 - What is happening between the United States and China with chip manufacturing? 04:55 - Is the FED being weaponized against Russia and China? 23:11 - What should people expect in the energy sector moving forward? 29:54 - Zoltan Pozsar's quote about commodity-backed money. 31:36 - Who's actually buying UST right now? 35:18 - What triggers the next big FED Pivot? 47:24 - What happens in US Real Estate with 30 year loans currently at 7.22% fixed. 48:25 - Luke's thoughts on the 3 month and 10 year treasury being at parity. 01:03:34 - What's currently happening the Japanese treasury market? Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Luke's Books. Luke's Newsletter. Twitter thread on China-US Chip manufacturing. Related Episode: Russia Ukraine

IN THIS EPISODE, YOU'LL LEARN: 02:30 - What Warren Buffett’s 12 investment principles are. 08:26 - Why Buffett has largely avoided technology companies over his career. 14:07 - Why Buffett loves companies that repurchase shares. 28:32 - Tips that Buffett shares to help us assess a management team. 31:02 - How to calculate the intrinsic value of a company. 37:50 - Why investing psychology is critical to understand. 51:36 -How Coca-Cola fit perfectly into these 12 principles.  Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Clay’s previous episode covering How Warren Buffett Became the Greatest Investor to Ever Live. Robert Hagstrom’s book - The Warren Buffett Way. Follow Clay on Twitter and Instragram. SPONSORS Support our free podcast by supporting our sponsors: River Toyota Su

IN THIS EPISODE, YOU’LL LEARN: 01:22 - Why and how do we need to understand the macro environment when we invest 07:18 - Why we should think of the economy as we think of the human body 19:02 - Why the traditional buy-and-hold equity strategy is flawed 26:20 - Why a house we live in is typically not a good investment 35:16 - How has the stock market performed after inflation and taxes?  40:38 - Why investors are not globally diversified when they invest in the S&P500 48:27 - Why bonds bear markets are different from bear markets in stocks 55:58 - Why diversification is about hating some of your portfolio all of the time 1:03:49 - How money creation will change with a digital currency by central banks 1:11:53 - What is yield curve control, and how is it exercised?  1:16:08 - What is the third mandate of the FED? 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

IN THIS EPISODE, YOU’LL LEARN: 03:40 - Why Josh believes we are at an Entropic Apex in the current markets. 06:14 - His beliefs around peace through strength and why he backed billionaire Palmer Luckey’s new defense startup, Andruil.  27:06 - Why Stan Druckenmiller invested in Lux early on, alongside Bill Conway, the billionaire co-founder of the Carlyle Group. 41:38 - Josh’s belief that we should rebrand sustainable energy to Elemental Power and include nuclear. 54:58 - Josh’s entrepreneurial endeavors, such as founding Kurion with $1.5M and selling it for over $100M Bitcoin. 59:28 - Josh’s previous criticisms of Elon Musk and his Twitter deal as well as Ray Dalio, who had retired on the day of this recording. 1:05:02 - His pursuit of digitizing scents. And much, 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, C

IN THIS EPISODE, YOU’LL LEARN: 01:20 - Jeff's first principles overview of energy, money, and resource optimization. 12:42 - Why is the adoption of Bitcoin bottom up and not top down? 15:41 - A system of growing misinformation and why. 25:47 - Why are open protocols so difficult to understand? 32:29 - What is the blockchain Trilemma? 40:12 - Why is decentralization combined with security for the first time such a big deal? 50:46 - Jeff's opinion on why energy must be inserted into money. 01:11:28 - What are the important Bitcoin fundamentals to be focusing on right now? 01:16:33 - If Jeff had to recommend something to the G20, what would it be? Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Jeff's Twitter. Ego Death Capital. Related Episode: Bitcoin Deep Dive on Energy Misconcep

IN THIS EPISODE, YOU'LL LEARN: 02:49 - How Buffett came around to purchasing Geico. 07:45 - Why Buffett’s reputation helped him get a fantastic deal on Nebraska Furniture Mart. 10:33 - Why the efficient market hypothesis is partially false. 12:13 - How Salomon Brothers nearly destroyed Buffett’s reputation. 26:35 - How Berkshire Hathaway faired through the 1999 tech bubble. 43:23 - How Buffett foresaw the calamity to occur in 2007/2008 great financial crisis. 51:20 - Why Berkshire’s purchase of Apple was perhaps the greatest trade of all time. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Listen to Part 1 of this Warren Buffett Deep Dive. Alice Schroeder’s book - The Snowball. Robert Hagstrom’s book - The Warren Buffett Way. Follow Clay on Twitter. SPONSORS Support our free po

IN THIS EPISODE, YOU’LL LEARN: 12:49 - How Annie Duke got sick, quit academia, & became a professional poker player. 18:24 - How poker taught her to “embrace uncertainty” & recognize the limits of what we know. 27:26 - How a legendary poker champion taught her to think more rationally about luck & loss. 37:45 - Why it’s important to think probabilistically—and how to strengthen this skill. 41:49 - How Annie helped a venture capital firm to improve its decision-making process. 44:54 - What skills & insights can be transferred from the game of poker to the game of investing. 51:36 - Why Annie never owned Bitcoin or NFTs. 55:13 - How to develop “kill criteria” that will help you decide when to sell an investment. 1:00:31 - Why we tend to make terrible investment decisions when we’re losing money.  1:06:29 - How to think rationally about whether to quit your job. 1:12:11 - How our sense of identity & tribalism can wreck our ability to revise our beliefs. 1:27:53 - Why Daniel Kahneman has a “quitting

IN THIS EPISODE, YOU’LL LEARN: 06:22 - The recent bids on CDS through Credit Suisse, Deutsche Bank and others. 15:09 - Why Cathie recently stepped down as portfolio manager for 2 of ARKs ETFs. 23:30 - Cathie’s belief that we will experience a deflationary surprise, which could reverse the FED’s current plan of action. 26:33 - Cathie’s thoughts on energy, unemployment numbers and other market indicators. 34:58 - An updated view on Bitcoin, Microstrategy and Coinbase. 46:37 - ARKS new venture fund. 56:20- Tesla’s recent AI Day and it’s potential impact on jobs. And much, 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, and the other community members. ARK Invest Website. ARK’s New Venture Fund Website. Trey Lockerbie Twitter. Related Episode: Disruptive Innovation w/ Cathie Wood - TIP334 SPONSORS Supp

IN THIS EPISODE, YOU’LL LEARN: 01:48 - Why does Michael believe that if the money isn't scarce, every desirable good on the planet will become scarce? 09:25 - What is irrational urgency and why does it exist with a fiat system? 21:07 - Is it possible to not inject energy into money and keep it sound? 30:41 - Why do so many people miscalculate how much energy Bitcoin will use in the future? 38:19 - Why is it so hard for people to wrap their head around Bitcoin mining in general? 44:53 - Is the environmental and energy issues currently playing out in the world connected to what Bitcoin is solving for? 58:51 - Where should we start when we think about the energy and environmental impact that's currently plaguing the world? 01:13:36 - Why is it important to keep the monetary constants unchanged? 01:26:42 - What is Bitcoin really solving for, versus every other crypto asset? 02:14:40 - Is Bitcoin the best ESG incentive in the world right now? 02:27:47 - Michael's overall thoughts on why Bitcoin is so im

IN THIS EPISODE, YOU’LL LEARN: 00:08:46 - Who the key figures were in Buffett’s development as an investor. 00:09:58 - Benjamin Graham’s definition of an investment. 00:10:21 - What it means to invest with a margin of safety. 00:22:23 - What cigar butt companies are and how they made Warren a fortune. 00:28:59 - How Charlie Munger helped shape Warren’s investment approach. 00:44:29 - Why Buffett loved the insurance business. 00:45:57 - How Warren Buffett’s investment partnership achieved a 31% annual return without a single losing year.  00:49:40 - Why buying a candy company was a critical moment in Buffett’s investment career. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Alice Schroeder’s book – The Snowball. Robert Hagstrom’s book – The Warren Buffett Way. SPONSORS Support ou

IN THIS EPISODE, YOU’LL LEARN: 01:46 - How and why did Trey and William get hired? 12:52 - What the business model of The Investor’s Podcast Network is. 15:11 - What the Free Cash Flow is of The Investor’s Podcast Network. 23:47 - How potential buyers have been approaching the Investor’s Podcast Network. 30:23 - Why The Investor’s Podcast Network is not optimizing for profit but happiness on the team. 30:24 - Whether any price would be so high that The Investor’s Podcast Network would be sold. 47:10 - Who is Clay Finck, and why will he be hosting We Study Billionaires. 51:48 - What does Clay Finck’s investment portfolio look like?  59:52 - How to access the WhatsApp group for the Berkshire Hathaway Annual Shareholder’s 2023 event. *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Listen to th

IN THIS EPISODE, YOU’LL LEARN: 01:48 - How Stig and Preston met and why they started The Investor’s Podcast together.  10:05 - When did Stig and Preston know that the podcast would be successful. 19:33 - What the pivotal moments were along the way. 25:28 - What is the relationship between Stig and Preston today. 37:50 - Why was the bitcoin show not set up in a separate podcast feed. 40:40 - What is the mission and vision of The Investor’s Podcast Network. 50:49 - Why is The Investor’s Podcast Network a team-based company and less focused on profits and customers. 1:01:47 - How does The Investor’s Podcast Network identify the right hires. *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Listen to the second part of this episode, Our Finances. The website where Stig Brodersen and Preston met e

IN THIS EPISODE, YOU’LL LEARN: 01:34 - Some reasons why microcaps are outperforming some of the larger cap segments. 05:46 - How Ian compares the current market to 2008. 14:22 - Risks and opportunities appearing as interest rates move higher. 25:13 - Private Equities' recent interest in public markets. 35:50 - Some strategies and stock ideas from the recent Summit. And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Microcap Club's Website. Microcap Clug's Twitter. Ian Cassel's Twitter. Sleuth Investor Book. MicroCap Advantage Paper. Trey Lockerbie's Twitter. SPONSORS Support our free podcast by supporting our sponsors: River Toyota Sun Life AFR The Bitcoin Way AT&T Sound Advisory Industrious Range Rover iFlex Stretch Studios Meyka Yahoo! Finance Vacasa

IN THIS EPISODE, YOU’LL LEARN: 01:58 - Why are property rights an important starting point for understanding the differences between Proof of Work (PoW) and Proof of Stake (PoS)? 07:41 - What is Abstract Power versus Physical Power and why are they important for understanding PoS Vs PoW? 20:45 - Why do the rules around property rights keep breaking down throughout time? 40:45 - Explain the importance of basic computer science and how computer programs work so we can understand the differences in PoS and PoW. 49:50 - A general introduction to PoS and PoW. 57:25 - Hal Finney and Adam Back’s contributions to developing the first blockchain. 01:15:15 - If you were going to exploit a PoS or PoW system, how would that work? 01:23:08 - Creative destruction and how it applies to protocols. 01:31:59 - Jason’s thoughts on Jamie Dimon liking everything but PoW. 01:38:15 - Vitalik Buterin’s comments on PoS not being tethered to physical reality. 01:42:17 - How has the faculty at MIT responds to your research?

William chats with Matthew McLennan about how to achieve resilient wealth creation, which is a central focus of William's book “Richer, Wiser, Happier." This interview was recorded on August 30, 2022. IN THIS EPISODE, YOU'LL LEARN: 02:36 - How Matthew McLennan grew up off the grid without electricity or hot running water. 12:56 - What he learned as a money manager at Goldman Sachs during the dotcom bubble. 15:57 - Why investors should try to emulate the patient, selective mindset of gardeners. 27:01 - How the most resilient businesses remind Matt of great wines and enduring artworks. 35:01 - Why investors need to respect the phenomenon of entropy as an ironclad law of life. 44:18 - Why investors should be wary of hot growth stocks, which are liable to fade. 46:27 - Why there’s surprising beauty in mundane businesses like bicycle brakes & elevators. 57:14 - How to ask the right “splitting” questions as a way to rule out what you shouldn’t own. 1:07:07 - Why gold might be more attractive than Bitcoin