We Study Billionaires - The Investors Podcast

IN THIS EPISODE, YOU'LL LEARN: 03:53- Where the markets might be heading. 12:36 - Elon’s latest update on his Twitter takeover. 32:54 - Why alternative energy should be the main focus for climate innovation.  39:05 - Field Trip’s business model. 43:22 - General information about how psychedelics are being used for medical treatment. and 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. All-In Summit Website. Full interview with Elon Musk. Field Trip Website. Trey Lockerbie Twitter. Preston, Trey & Stig’s tool for picking stock winners and managing our portfolios: TIP Finance Tool. 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 S

IN THIS EPISODE, YOU'LL LEARN: 06:48 - How Ed Thorpe influenced Bill Gross in the early days. 04:49 - How Bill pioneered a market for trading bonds. 09:23 - How Bill founded Pimco and the famous Total Market return fund. 21:41 - How they successfully navigated the GFC and established an abnormal relationship with the government along the way. 31:44 - The trade that began the decline of Bill’s time at Pimco. 51:25 - Bill’s own autobiography was recently released. And a whole lot 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. The Bond King Book. Planet Money Podcast. Mary Childs' Substack. Trey Lockerbie Twitter. Preston, Trey & Stig’s tool for picking stock winners and managing our portfolios: TIP Finance Tool. SPONSORS Support our free podcast by supporting our sponsors: River

IN THIS EPISODE, YOU’LL LEARN: 01:47 - How Bitcoin first got into Shaun's life as an energy executive. 07:48 - What was the reaction of most energy company executives that are learning about Bitcoin? 12:16 - How fast is Bitcoin being adopted into the grid's infrastructure? 14:08 - How does Bitcoin impact the bottom line for energy companies? 14:08 - How does Bitcoin impact the energy grid's stability? 22:21 - How policymakers understand the advantages of Bitcoin mining. 37:26 - How energy prices may impact the value of Bitcoin moving forward. 49:20 - What's the momentum for adding Bitcoin into the energy sector's asset mix? 01:00:54 - As the price runs, does it become harder for the physical hardware infrastructure to capture the margins? *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. Sha

IN THIS EPISODE, YOU’LL LEARN: 00:06:41 - Why he views plunging prices and widespread pessimism as signals to buy stocks. 00:08:19 - Why this period has been “extraordinarily painful” for Miller and many of his peers. 00:08:54 - Why war, inflation, and rising interest rates mean we’re in a new investment environment. 00:15:06 - Why he believes the battered stock market looks poised for a rebound. 00:15:32 - How to handle the emotional pressure of brutal downturns in financial markets. 00:17:31 - How he came to be the biggest individual shareholder of Amazon not named Bezos. 00:26:28 - What stocks he’s looking at now that seem wildly cheap. 00:25:13 - Why he’s bullish about Chinese tech and internet stocks like Baidu and Alibaba.  00:49:39 - Why he regards Bitcoin as an insurance policy against financial catastrophe. 00:55:59 - What he thinks Warren Buffett and Charlie Munger don’t understand about Bitcoin. 01:15:58 - Why he has over 80% of his personal investment portfolio in Bitcoin and Amazon. 0

IN THIS EPISODE, YOU'LL LEARN: 01:51 - Why Toby is bull on Domino's Pizza (Ticker: DPZ) 17:42 - Why Hari wants to invest in Meta (Ticker: FB) 38:41 - Why Stig has decided to invest with Mohnish Pabrai *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. Mastermind Discussion Q1 2022.  Mastermind Discussion Q4 2021.  Mastermind Discussion Q3 2021.  Stig Brodersen's interview with Mohnish Pabrai. William Green's interview with Ray Dalio. Our FREE stock analysis resource, Intrinsic Value Index. Subscribe to our FREE Intrinsic Value Assessments. Tobias Carlisle's podcast, The Acquires 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: Acquir

IN THIS EPISODE, YOU'LL LEARN: 09:55 - Why it’ll be best to hold US assets over time. 15:51 - Why is the Japanese Yen reaching 40-year lows? 23:01 - How high energy costs exacerbate the issue. 29:57 - Why the stagflation playing out today is the worst-case scenario. 50:31 - The performance of silver and gold. 1:00:14 - What is causing the dollar to strengthen to 20-year highs. 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. Dollar Milkshake Explanation Video. Santiago Capital Website. Brent Johnson Twitter. Trey Lockerbie Twitter. Preston, Trey & Stig’s tool for picking stock winners and managing our portfolios: TIP Finance Tool. SPONSORS Support our free podcast by supporting our sponsors: River Toyota TurboTax Fidelity Monarch Money Meyka Simon & Schus

IN THIS EPISODE, YOU’LL LEARN: 01:42 - The FED's Soft Landing. 09:10 - The Luna Stable Coin melt-down. 23:20 - What's happening in the bond market? 49:26 - Whether the stock market is due for a correction or not. 53:56 - What's happening in China? 01:00:50 - Regulation coming out of the Luna situation. 01:16:09 - What it will take for the SEC to approve a Spot ETF. *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. Joe Carlasare's Twitter. Jay Gould's Twitter. Jeff Ross's Twitter. New to the show? Check out our We Study Billionaires Starter Packs. Are you looking to start investing? Check out our article on How to Invest in Stocks: The Ultimate Guide for Beginners. SPONSORS Support our free podcast by supporting our sponsors: River Toyota TurboTax Fidelity Monarch Money Meyka Sim

IN THIS EPISODE, YOU’LL LEARN: 07:59 - If new investors should build their portfolio around small cap stocks. 13:55 - Why there is more to it than just picking companies you understand. 22:34 - How to identify a stock pick that has pricing power. 27:26 - A rather untraditional approach to identifying good stocks. 36:05 - Ask The Investors: Should a value investor invest in net-net stocks? *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. Peter Lynch’s book: One Up On Wall Street – Read Reviews for this book. Peter Lynch’s book: Beating The Street – Read Reviews for this book. Tobias Carlisle’s book: Deep Value – Read Reviews for this book. Support our free podcast by supporting our sponsors. SPONSORS Support our free podcast by supporting our sponsors: River Toyota TurboTax Fidelity Mon

IN THIS EPISODE, YOU'LL LEARN: 01:35 - How to compete in competitive real estate markets and why conservative underwriting is necessary for longevity. 08:08 - Ways to reduce your tax bill by investing in CRE. 09:30 - Who CRE firms and funds go to for debt financing and what the debt structure can be for large real estate firms. 12:02 - How real estate investors are taxed. 25:03 - The difference between preferred equity and common equity. 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. TIP’s Real Estate podcast Multifamily Investor Nation conference PassiveInvesting.com’s Mariner Grove offering PassiveInvesting.com’s Self-Storage fund Joe Fairless’ book Best Ever Apartment Syndication All of Robert’s favorite books SPONSORS Support our free podcast by supportin

IN THIS EPISODE, YOU'LL LEARN: 01:49 - Overconfidence 08:43 - Anchoring 11:18 - Endowment Effect 24:25 - Base-rate neglect and Recency bias 33:01 - Social Proof 48:30 - Scarcity  And a whole lot 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. Silver Ring Value Partners Website. Behavioral Value Investor Blog. Gary Mishuris Youtube.  Trey Lockerbie Twitter. Preston, Trey & Stig’s tool for picking stock winners and managing our portfolios: TIP Finance Tool. 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! I

IN THIS EPISODE, YOU’LL LEARN: 00:03:09 - What Gigi is most excited about for 2022. 00:04:46 - What causes people to see Bitcoin from the bottom-up. 00:13:28 - What are all the things that Bitcoin is doing simultaneously. 00:17:15 How Bitcoin solves time stamping. 00:23:38 - What is under appreciated in the Bitcoin space right now. 00:21:26 - What incentives will drive the adoption of lightning. 00:55:42 - Proof of Work (PoW) Versus Proof of Stake (PoS). 00:37:32 - How to take something complex and make it digestible. 00:43:08 - What question can you ask someone to understand the breadth of the understanding in Bitcoin. *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. Gigi's article: Bitcoin is Time. Gigi's article: Inalienable Property Rights. Gigi's article: Proof of Life. An Index o

IN THIS EPISODE, YOU’LL LEARN 00:05:14 - How a teenage girl saved Arnold Van Den Berg’s life during the Holocaust. 00:08:54 - How he learned to live a life guided by principles and the search for truth. 00:24:51 - What his father taught him about the extraordinary power of the mind. 00:42:37 - How Arnold transformed his body and mind to become a champion athlete. 00:43:32 - Why “the single most important thing in life is what you believe.” 00:44:39 - How Arnold taught himself to invest with no college degree or professional training. 00:52:34 - What he learned from Ben Graham (and his own mother) about buying bargains. 00:55:58 - Why the key to picking stocks is having the discipline to buy cheap. 01:13:59 - How visualization helped him to become a successful money manager. 01:18:28 - How to use hypnosis and affirmations to reprogram your subconscious mind. 01:13:59 - What specific affirmation he repeats thirty times a day. 01:58:11 - What advice Arnold has for people who are suffering now. BOOK

IN THIS EPISODE, YOU'LL LEARN: 03:20 - The biggest takeaways from the meeting. 17:51 - Why and what Berkshire Hathaway invested $51B in during Q1 2022. 34:15 - Berkshire Hathaway and their plans for share buyback. 41:01 - Warren Buffett’s view of inflation. 1:03:15 - Warren Buffett’s experiences of changing his opinion. 1:16:33 - Warren Buffett's learning objectives on merger arbitrage bets. *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. Our interview with Lawrence Cunningham about Berkshire Hathaway. Our previous episodes about the Berkshire Hathaway Annual Shareholder’s Meetings. Watch CNBC resource on previous Berkshire Hathaway Annual Shareholder’s Meeting. Our interview with Guy Spier episode about investing and life. Preston, Trey & Stig’s tool for picking stock winners and mana

IN THIS EPISODE, YOU'LL LEARN: 01:41 - Current risks posed by supply chain disruption and food shortages. 05:27 - Updates on Evergrande, China, and Munger’s recent bipolar trade on Alibaba. 14:39 - Why the most contrarian bet today is too short commodities. 13:17 - The recent fall of Netflix and how other tech stocks might follow suit. 27:12 - How David thinks through valuation and where the US stands today, compared to the global market. 32:39 - Why Closed-End Funds are likely an overlooked and underappreciated asset trading on the NYSE. 53:18 - What they are and why we should consider them, in addition to another asset called Business Development Companies. And a whole lot 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. Money for the Rest of Us Website. Money for the Rest of Us Boo

IN THIS EPISODE, YOU’LL LEARN: 01:43 - Bill's overall thoughts on the current market conditions. 09:31 - How Bill and his father first found Bitcoin. 12:16 - Why Bill found Bitcoin to be an asymmetric investment. 18:54 - Margin and investing. 21:18 - Thoughts on Musk buying Twitter. 23:35 - Bitcoin vs Crypto. 28:49 - Concentrated investing and why it's important. 31:12 - Mean / Variance Portfolio Theorem. 40:54 - Finding big trends in markets. *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. Bill Miller IV Twitter. Miller Value Partners. Bill's book recommendation: The Psychology of Money by Morgan Housel. New to the show? Check out our We Study Billionaires Starter Packs. Are you looking to start investing? Check out our article on How to Invest in Stocks: The Ultimate Guide for Begi

IN THIS EPISODE, YOU’LL LEARN: 02:38 - Why Security Analysis is one of Warren Buffett’s three favorite books. 11:49 - Real case studies where Warren Buffett has directly applied skills acquired from Security Analysis. 13:05 - The highlights for each of the 7 major parts in Security Analysis. 30:08 - The difference in opinion between Benjamin Graham and Warren Buffett when it comes to dividends. *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. Preston & Stig’s book, Security Analysis (100 Page Summary) – Read reviews of this book. Benjamin Graham’s book, Security Analysis – Read reviews of this book. Benjamin Graham’s book, The Intelligent Investor – Read reviews of this book. Philip Fisher’s book, Common Stocks and Uncommon Profits – Read reviews of this book. Adam Smith’s book, The Wealth of

Trey invites back Ted Seides to discuss the influence of endowments and hedge funds in today's markets and the impacts of ESG policies. IN THIS EPISODE, YOU'LL LEARN: 07:16 - How hedge funds and endowments have changed over the last 20 years. 10:58 - The biggest misconceptions regarding endowment funds. 20:30 - The impact of ESG policies and how the narrative around them may be changing or evolving. 28:45 - Why Ted has abandoned his SPAC strategy. 44:54 - How endowments think through allocating across different asset classes, especially alternatives. And a whole lot 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. Related Episode: Listen to TIP343- How to Invest Like the Best w/ Ted Seides or watch the video.  Related Episode: Listen to TIP170 - A Bet With Warren Buffet w/ Ted Seides or

Trey Lockerbie chats with Dr. David Kass, who is a Ph.D. economist and professor at the University of Maryland. They discuss how Buffett bought Berkshire after letting his emotions get the best of him and why it was originally a huge mistake, his overpayment for Precision Castparts, and much more! IN THIS EPISODE, YOU'LL LEARN: 09:47 - The story of how Buffett bought Berkshire after letting his emotions get the best of him and why it was originally a huge mistake. 15:04 - How he could have made hundreds of billions more had he simply invested in insurance. 20:49 - His position in Conocophillips that resulted in a loss and how even through all of that, 1 single dollar invested with Buffett in 1965 would now be worth $3.65M 23:00 - Why buying Dexter Shoes was, in Buffett's words, the worst purchase he ever made. 30:42- How he missed out on Google, Amazon, and others 41:29 - His overpayment for Precision Castparts. And a whole lot more! *Disclaimer: Slight timestamp discrepancies may occur due to podca

IN THIS EPISODE, YOU’LL LEARN: 02:31 - What attracted Morgen into finance. 05:56 - How has being a CFA charter holder and being a Bitcoiner contrasted? 17:52 - What are the issues most financial advisors have with Bitcoin? 24:46 - Why do most financial advisors say "crypto" not Bitcoin? 31:06 - How do elderly people that are dependent on a fixed income strategy navigate the current markets? 38:32 - What's the best way for Bitcoin'ers to optimize their taxes? 46:34 - What do you say to couples that have different risk aversions? *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. Morgen's Twitter. Morgen's Book. Morgen's Origin Wealth Advisers. New to the show? Check out our We Study Billionaires Starter Packs. Are you looking to start investing? Check out our article on How to Invest in St

IN THIS EPISODE, YOU’LL LEARN 00:09:21 - Why it’s so valuable to build unscheduled “day-dreaming time” into your day. 00:13:17 - Why it’s a competitive advantage to be a generalist in a world of specialists. 00:18:29 - What 42 years as a professor have taught Aswath about how to communicate. 00:31:14 - Why he’s intensely skeptical about the ESG movement. 00:39:46 - Why he owns no cryptocurrencies and views Bitcoin as a currency “for the paranoid.” 00:44:21 - Which investment principles guide him. 00:46:20 - How to identify the investment philosophy that fits best for you. 00:52:07 - Why he’s glad that he sold Amazon and Tesla, and how he hit the jackpot with Apple. 00:54:49 - How he values businesses by focusing on three key drivers above all else. 01:19:58 - Which investors he admires the most. 01:23:20 - Why he believes that macroeconomic forecasting makes soothsayers look good. 01:25:06 - How he maintains his serenity in difficult times, both in markets and life. 01:27:07 - Why it’s so importa