WE STUDY BILLIONAIRES - THE INVESTOR’S PODCAST NETWORKHOSTED BYTHE INVESTOR'S PODCAST NETWORK
We interview and study famous financial billionaires, including Warren Buffett, Ray Dalio, and Howard Marks, and teach you what we learn and how you can apply their investment strategies in the stock market.
We Study Billionaires is the largest stock investing podcast show in the world with 150,000,000+ downloads and is hosted by Stig Brodersen, Preston Pysh, William Green, Clay Finck, and Kyle Grieve.
This podcast also includes the Richer Wiser Happier series hosted by best-selling author William Green. William regularly interviews legendary investors such as Mohnish Pabrai and Guy Spier, exploring what they can teach us about how to succeed in markets and life.
And finally, our Bitcoin Fundamentals series is hosted by Preston Pysh, where he interviews prominent figures in the Bitcoin and macroeconomic space. To learn more about TIP, you can visit theinvestorspodcast.com or subscribe to our free daily newsletter here.
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You're listening to TIP. Every year, I look forward to reading 2 annual letters, one from mister Buffet and the other from Chris Broomstrand. Chris and his company Semper Augustus have an outstanding track record. Since the fund's exception in 1999, Chris' CAGR on equities has been 11.5% compared to 7.6% for the S and P 500. In other words, a dollar would have turned into almost $15 with Chris compared to only $8 for the S and P 500. I can't think of anyone other than Warren Buffet who understands Berkshire Hathaway's valuation better than Chris. And after this episode, I'm sure you will agree with me. Before we discuss Berkshire Hathaway in detail, Chris outlines his expectations for the S and P 500 returns and the five factors you need to include in in your estimations. This is an episode you don't want to miss out on. Let's do it. Celebrating 10 years and more than 150,000,000 downloads. You are listening to The Investors Podcast Network. Since 2014, we studied the financial markets and read the books that influence self made billionaires the most. We keep you informed and prepared for the unexpected. Now for your host, Stig Brodersen. I'm going to be a little bit more cautious about the future. And I'm going to be a little bit more cautious about the future. Broomstrand. How are you today, Chris? Stig Broomstrand (3zero zero three): Stig, I'm great. It's always good to be with you and look forward to this for we've done this for a couple of years now. So looking forward to it again. Stig Brodersen (zero zero six:fifty four): You had an amazing track record, and perhaps I should take one step back before we get to that and really just acknowledge that you survived for 25 years. And I don't think we can take that for granted. Stig Brodersen (zero zero four:fifty four): To sum it might seem silly to mention. A lot of people might have been 24, 25 years in a job, but in asset management, this is so different. Whenever you see the industry from
Think it's just that we've forgotten about them and it hasn't happened in our lifetime. Before getting into the middle of the book here, we'll dive into the preamble that touches on some of the learnings from these specific crises, financial markets, especially ones reliant on leverage, can be quite fragile and subject to crises and confidence. The reason that people believe that their time is different than times of the past is because of the precarious nature of confidence, especially in times in which short term debts need to be rolled over continuously. They write, I quote, highly indebted governments, banks, or corporations can seem to be merely rolling along for an extended period. Then bang. Confidence collapses, lenders disappear, and a crisis hits. The simplest and most familiar example of crisis is a bank run. Banks borrow at short term durations and lend it out at longer term durations. A bank may have a solid deposit base with a large diverse buy portfolio of loans, but if too many of those loans are illiquid, the bank is susceptible to a bank run if for any reason there's a crisis in confidence, and too many of the depositors want their money back all at once. Countries can also run into similar dynamics due to loss of confidence. Say a country borrows from external lenders over which they have little influence over and consider that many government investments are highly illiquid. So for any reason, if an external financier decides that they're losing confidence in the country's ability to pay back that debt, then interest rates in the debt go up because the perceived risk is now higher, and the country may now be forced to take on debt that is at, you know, unsustainable levels and they may not be able to really get financing and then a credit crisis unfolds. These events really don't happen every day, but in the longer context of history, They happen time and time again. And the reason they keep happening is that confidence and trust are inherent
You're listening to TIP. Hey, everyone. Welcome to this Wednesday's release of the Bitcoin fundamentals podcast. This episode is brought to you by River, the place that I personally go to securely invest in Bitcoin with confidence and with 0 fees. On today's show, we have a really fascinating conversation about using Bitcoin's truth machine to help secure the integrity of elections Now I know what you're thinking because I was thinking the exact same thing when I was first told about this topic, how in the world can Bitcoin assist in this process that has so many connections to humans that are able to manipulate the results or just interact and conduct fraud. And isn't the Bitcoin network just about sound money? Well, I'm completely with you and but this past week, I was down in El Salvador for an event, and I ran into the guest of today's show, Mister Carlos Terrello, and he provided such an incredible overview in what he has already done in Guatemala all up, and this is something I just had to bring to the listeners of this show to hear for themselves. So without further delay, Here's my chat with Carlos and how Bitcoin is being used to audit election results. Celebrating 10 years. You are listening to Bitcoin Fundamentals by the Investors Podcast Network. Now for your host, Preston Pish. Hey, everyone. Welcome to the show. I am here with Carlos, and I'm excited to have this car. This conversation is so different. Then I think anything I've ever done on this show before. So welcome to welcome to the show and, very excited to get into this. Appreciate it. It's a long time listener, a big fan of your work. So, very much appreciate the opportunity to share with your audience. We bumped into each other when I was down in El Salvador, and you started telling me about
You're listening to TIP. Annie Duke has one of the best minds on decision making I've talked to on We Study Billionaires. Decision making might not sound thrilling at first, but hold on tight because it's the very essence of successful investing. Think about it. Every trade, every hold, every decision is a product of our mental gymnastics aimed at maximizing returns and optimizing our process. And Annie, with her background as a legendary poker player turned author, brings unparalleled insights into this complex arena. In this episode, we're not just scratching the surface. We're delving into Annie's treasure trove of wisdom honed over years of intense study and practical experience. Her books, Thinking Invest and Quit, are more than just reads. They're guides to mastering decision making in both investing and life. Today, we'll unpack some of our most valuable advice to investors to bring more clarity to your thinking. We'll focus on our pre commitment devices, invaluable mental tools that can save us from costly mistakes and lead us towards smarter, more profitable choices. One of my biggest takeaways from our chat was how we can create data points on long term investments. This allows us to zoom into our process to make sure we are on track for a process that may be many years into the future. Imagine being able to anticipate the fundamental downturns of a business in your portfolio before the market recognizes it, or think about having the ability to more easily walk away from a losing investment that is burning a hole in your pocket and eating away at your returns. And these insights here alone are worth paying very close attention to. So if you relish in the intellectual challenge of investing, this episode is tailor made for you. After listening to this episode, you'll have a number of practical tools that you can use instantly to supercharge your decision making, not just in investing, but in every aspect of your life. Now let's get right into this week's episode with Annie Duke. Celebrating 10 years and more than 150,000,000 downloads. You are listening to The Investor's Podcast Network. Since 2014, we studied the financial markets and read the books that influence self made billionaires the most. We keep you informed and prepared for the unexpected.
Revenue streams of the 2 and the cash flow streams of those 2 businesses, you tend to see more volatility, of course, in transaction recurring revenue because you have the up and down of the economy. But sometimes those businesses can grow more quickly and they can be more attractive, depending on the situation. But both I think are significantly more attractive and preferred to the businesses where you sell a product once and you may never see the customer for 5 or 10 years. So think about automobiles or heavy equipment, those types of industries, which we've we've shied away from because they're just more difficult to value and to predict. Let's take a quick break and hear from today's sponsors. It's a great day to venture out in a spacious and capable Toyota SUV. Like a new RAV 4 with available all wheel drive, it can go just about anywhere. And with plenty of passenger and cargo space, you'll go from morning carpool to weekend road trip without missing a beat. Plus, with available features like wireless charging and a touchscreen interface, your Toyota RAV 4 will keep you connected no matter where you're going. Or check out a spacious Highlander. With seating for up to 8, it's a hub for family adventure. You'll drive in comfort and style with available heated and ventilated seats $1,000,000,000 of the total revenue of $1,000,000 of the total revenue of $1,000,000 of the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the Visit buyatoyota.com for deals and more. That's buyatoyota.com. Toyota. Let's go places. Have you ever wondered if there's an AI tool like ChatGBT specifically built for the stock market? A tool that not only aids you in your research and analysis process, but also allows for dynamic discussions? Today, I want to share such a tool with you called Makea. Makea is the AI powered stock research assistant now enhanced with real time stock data.
