It's Chris' third time on the show -- check out the earlier episodes, both are among the top ten all-time downloads.

My guest today is Chris Mayer, he is a professional investor, best-selling author, expert on general semantics and more.

He is a portfolio manager and co-founder of Woodlock House Family Capital, and the author of 100 bagger, How do you know, Dear Fellow Time Binder, World Right Side Up, and Invest Like a Dealmaker.

It’s his third time on the show — consider listening to the previous two episodes before or along with this. It’s always such a joy to speak with Chris, and this episode is no different. Enjoy!

Summary

In this conversation, Chris Mayer discusses the nuances of investing, emphasizing the importance of clear communication with investors, the long-term perspective of family wealth, and the evolution of investment research. He highlights the significance of patience in compounding, the role of catalysts in stock performance, and the need to embrace uncertainty.

Chris also contrasts dynamic and static value investing, explores the impact of passive investing on market dynamics, and reflects on how general semantics has influenced his investment thinking. In this conversation, Chris and Bogumil explore the themes of lifelong learning, the importance of humility in understanding knowledge, and the principles of investing that should be passed down to future generations.

They discuss the mindset of an immortal investor, the impact of news on market perceptions, and the significance of quality over startup risks in investment strategies. The conversation also delves into cultivating patience in an impatient world, the nature of success and failure, and the subjective understanding of quality in business.

Podcast Program – Disclosure Statement

Blue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm’s employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice.

Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed.

Information expressed does not take into account your specific situation or objectives, and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance.

My guest today is Brent Beshore, he is the founder and CEO of Permanent Equity, a private equity firm that uses 30-year funds to invest in and partner with companies that care what happens next. He is the author of a wonderful book: The Messy Marketplace, Selling Your Business in a World of Imperfect Buyers. Summary In this conversation, Brent Beshore, founder and CEO of Permanent Equity, discusses his unique approach to private equity, emphasizing long-term ownership and the importance of understanding the businesses he acquires. He shares insights from his upbringing, his journey into investing, and the reasons why business owners choose to sell. Brent highlights the significance of customer loyalty and the characteristics of ideal businesses, while also addressing the challenges of running a small business. In this conversation, Brent Beshore discusses the complexities of buying and selling businesses, emphasizing the human elements involved in transactions. He explores the chaos often present in small businesses, the reasons owners choose to sell, and the importance of treating people with care and respect. Beshore also highlights the significance of long-term perspectives in business, the challenges faced post-sale, and how success is redefined through a focus on flourishing and healing rather than mere financial outcomes. Podcast Program – Disclosure Statement Blue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm’s employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives, and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance.

My guest today is Julia Carreon, a Business Transformation and Integration Executive. In her own words, in an industry rife with friction and failed projects, she leads teams that are in the 1% of executing reimagined client/advisor experiences. Today, we are talking about the Future of Wealth Management, digital transformation and more.

https://www.linkedin.com/pulse/make-mistake-gen-zs-social-skills-fierce-julia-c-carreon/

https://www.linkedin.com/posts/julia-c-carreon-8318674_courage-opinions-leadership-activity-7201617334648676353-_1dd?utm_source=share&utm_medium=member_ios

Takeaways

Julia's childhood experiences shaped her views on money and power.

Technology should enhance human interaction, not replace it.

Gen Z will demand seamless digital experiences in wealth management.

Understanding generational differences is crucial for effective communication. Listening to clients can reveal valuable insights for service improvement.

Change management is essential for adopting new technologies.

Respecting clients' time enhances the quality of interactions.

Success is defined by the impact you have on others.

Involving the next generation in wealth management is vital for future success.

Leadership is about serving others and fostering their growth.

Podcast Program – Disclosure Statement Blue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm’s employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice.

Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies.  Investments involve risk and unless otherwise stated, are not guaranteed. 

Information expressed does not take into account your specific situation or objectives, and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation.  Past performance is not indicative of future performance.

Luca Dellanna is a management advisor focused on increasing revenue through better people and operations management.

After a master’s degree in automotive engineering, Luca spent the first part of his career working for DuPont’s consulting unit in Frankfurt, Germany. There, he focused on managerial excellence projects in a variety of manufacturing industries, all across Europe.

In 2015, Luca moved back to his hometown of Turin, Italy, and opened a private consulting practice serving clients worldwide.

He has also published books about management, human behavior, and economics that earned him appearances on the most important conference and podcast in his field, Nudgestock and EconTalk respectively.

Luca lives with his wife Wenlin and his dog Didi, and divides his time between Turin and Singapore.

Luca writes regularly on Twitter (@DellAnnaLuca).

His personal website is www.luca-dellanna.com

Today:

1. We talked about Luca's childhood and upbringing and how it shaped his interest in ergodicity.

2. Luca shared his perspective on how the understanding of time and variance can improve our decision-making process.

3. We discussed how his book is designed to help readers make better decisions that don't ignore time but leverage it. Luca elaborated on the idea of decisions that minimize regret and maximize long-term potential.

4. Luca talked about the concept of survival in both skiing and life in general.

5. We delved into the world of investing where Luca further advised that, over a prolonged period of time, survival dwarfs performance.

6. Luca shared his powerful concept about how irreversible consequences absorb future gains.

7. We talked about the statement, "Do not envy successes that don't reproduce well." Luca shared more about why envy is often misguided and how we should focus on repeatable successes.

8. Luca discussed his perspective that individuals should care about whether a system works for them, rather than if it works on average.

9. Luca explained the difference between ergodic and non-ergodic systems in terms of their outcomes.

10. He recommended investing time and money as a barbell to balance risk and reward.

11. We discussed the idea that extreme risks can outperform skill, and in general, taking small risks is a good strategy.

12. Luca shared his advice on performance measurement, highlighting the pitfalls of narrowing the time frame to increase performance.

13. We discussed how ergodicity can be introduced into life and where non-ergodicity might be positive.

14. Luca talked about the difference between efficiency (a snapshot in time) and effectiveness (a lifetime view).

15. Finally, we discussed how Luca's research has shaped his view of success.

NEVER INVESTMENT ADVICE.

John M. Jennings is president and chief strategist of St. Louis Trust & Family Office, a $15 billion wealth management firm. As an author and speaker, he is a leading voice in the space of wealth management and leadership. His book, The Uncertainty Solution, is an engaging dive into investing philosophy and best practices as well as an authorita¬tive, accessible guide for anyone who feels inundated with financial news and data.

Jennings is also the author of the highly acclaimed IFOD Interesting Fact of the Day blog, is an adjunct professor at Washington University’s Olin Business School, and frequently writes on wealth management topics for Forbes. He has finance and law degrees from the University of Missouri and a professional certificate in Decision Making and Behavioral Finance from Harvard.

Today:

1. We touched on John's professional turning point, the Financial Crisis of 2008, and how it reshaped his identity and approach towards honesty with his clients.

2. John shared a fascinating study about human behavior.

3. We delved into the topic of information overload in investing. John explained his evolution from an exhausting need-to-know-everything approach to a more balanced, big-picture perspective.

4. We explored the concepts of past performance, regression to the mean, and the roles of luck and randomness in investing, as highlighted in John's book.

5. John unpacked the difference between the unknowable and the unknown in the world of investing, emphasizing the pursuit of knowledge and the struggle for perfection.

6. We discussed the human tendency to simplify complex situations into single-cause explanations and how this often contradicts the intricate nature of the world.

7. John shared an intriguing anecdote about diet choices and health, underscoring the importance of sample size in decision-making processes.

8. John elaborated on his viewpoint that "The stock market is not the economy,"

9. John shared his belief that waiting for perceived safety and economic health is not a profitable strategy, offering a contrarian perspective.

10. We discussed the perils of predictions through stories of Alan Greenspan and a New York hedge fund manager, reinforcing the idea that predictions often fall short.

11. John walked us through the eight best behavior practices he outlines in his book: inactivity, simplicity, investment policy need, margin of safety, long-term focus, avoiding portfolio checks, maintaining a play account, and choosing the right advisor.

https://johnmjennings.com/john-m-jennings-author-speaker-chief-strategist/

His website: https://johnmjennings.com/

His blog "The Interesting Fact of the Day": https://johnmjennings.com/the-ifod/

NEVER INVESTMENT ADVICE.

Scott Patterson is the author of the New York Times best-selling book The Quants and Dark Pools and a staff reporter for The Wall Street Journal, where has written about hedge funds, high-speed trading, Warren Buffett, the global mining industry, the Jan. 6, 2021 investigation, and climate change. A winner of the Loeb Breaking News Award, Scott has made frequent appearances in the media, including on CNBC, The Daily Show, and Fresh Air.

His work has also appeared in the New York Times, Rolling Stone and Mother Earth News. He has a masters of arts degree from James Madison University. He lives in Alexandria, Virginia with his wife and son.

Today, we focus on his newest book Chaos Kings: How Wall Street Traders Make Billions in the New Age of Crisis. It is a fascinating deep dive into the world of billion-dollar traders and high-stakes crisis predictors who strive to turn extreme events into financial windfalls.

Today,

1. Scott shared the genesis of his book "Chaos Kings: How Wall Street Traders Make Billions in the New Age of Crisis," and introduced some of the fascinating characters that readers can get to know.

2. We talked about the increasing focus on chaos, crisis, and market crashes, with Scott highlighting some of the most distressing financial moments of the past 30-40 years and how the individuals in his book profited from them.

3. Scott shed light on a unique aspect of options as explained by Nassim Taleb, one of his book's main characters: their non-linearity. He likened this to fire insurance that triples in value if your home burns down, illustrating how outsized profits can be made during times of chaos.

4. We delved into the concepts of 'Black Swans' and 'Dragon Kings' that feature in his book.

5. We discussed how traditional risk metrics like Value at Risk (VaR), often fail during crisis situations. Scott explained the belief that past events do not accurately predict future correlations during extreme circumstances.

6. We then shifted gears and Scott shared his thoughts about the interconnectedness of financial markets, climate change, and long-term, generational risk.

7. In a lighter moment, Scott spoke about the high number of his characters who ride fast cars or motorcycles, jokingly questioning if there's a hidden correlation worth noting.

8. Last, but not least, we talk about value investing, and Warren Buffett who Scott has covered as a reporter for many years.

https://scottpattersonbooks.com/

NEVER INVESTMENT ADVICE.

John Rotonti was formerly a Senior Analyst and Head of Investor Training and Development at The Motley Fool. After 9 years at The Motley Fool he is now an individual investor and "free agent" figuring out his next steps.

John is too modest to admit, but he has had a lot of success picking stocks throughout the years, and today he will share his insights, process, and advice for anyone curious about finding good investment for the long-run.

I connected with John through Brad Barrett, best-selling author, and a host of an award winning podcast – Choose FI, where he shares his wisdom about financial independence. Brad was an earlier guest on the podcast, and we had one of the best conversations on the show.

Today, with John,

1. We began our discussion with John's early life, exploring how his upbringing and experiences influenced his relationship with money, investing, and how it ultimately led him to his career path.

2. John shared his insights into what it takes to become a successful stock picker, discussing the criteria and metrics used at Motley Fool, where he was once the highest-ranked stock picker.

3. We talked about a simple yet powerful investment formula that John shared in one of his articles. He explained key concepts like return on invested capital and valuation, why they matter, and how they can contribute to long-term market outperformance.

4. John provided another secret to successful investing: the influence of free cash flow yield. He broke down these concepts for those new to investing, emphasizing their impact on investment return.

5. We discussed the "vital signs" of a business that a stock analyst looks for, according to John. These include a strong balance sheet, return on invested capital, top-line growth, and bottom-line growth.

6. Moving beyond numbers, John shared his thoughts on evaluating good management, highlighting its significance in successful investing.

7. John described his meticulous approach to conducting stock research and shared the importance of using a checklist to avoid overlooking crucial information.

8. We delved into the aspects of buying, holding, and selling stocks. John stressed the importance of patience in active investing and the necessity of adapting to changes in circumstances.

9. John offered advice for investors navigating both major market sell-offs and overheated bull markets, emphasizing the lessons that can be learned from both experiences.

10. To conclude, we talked about John's personal definition of success, exploring what this term means to him in the context of his investing career.

Find John on Twitter: @JRogrow

NEVER INVESTMENT ADVICE.

My interview with Chloe Lin, Arigato Investor, President of Buffett Online School Japan, Investor, Speaker, 200K TikTok

Chloe is an international speaker and has been invited to travel around the world including places like Japan, China, Hong Kong, Malaysia, Taiwan, Vietnam, and many other countries.

​She also heads the Buffett Online School in Japan and has also been featured in Singapore’s official Chinese newspaper Lian He Zao Bao sharing her experience on how to invest safely as a female investor, and how to achieve consistent results from the stock market.

Together with her team from The Next Level, they have trained over 100,000 students across the world to learn what options trading really works, and helped many investors to grow their wealth safely through simple options strategies.

Chloe: "I just released an in-depth interview with fund manager Bogumil Baranowski on my YouTube channel!
In this interview, we delve into topics such as
1. How to investing safely in this ever-changing world
2. Bogumil's perspective on investing in the US market amidst the rise of China
3. Tips and strategies for cultivating emotional stability
4. The most significant takeaways from the recent Berkshire AGM, among many others.
Thanks Bogumil once again for the amazing sharing and I can’t wait to learn from you more!" https://arigatoinvestor.com/how-to-navigate-the-stock-market-insights-from-bogumil-baranowski/

https://www.tiktok.com/@arigatoinvestor

----

 ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - My new book.

To get regular updates and bonus content, please sign-up for my substack: ⁠⁠⁠⁠⁠https://bogumilbaranowski.substack.com/⁠⁠⁠⁠⁠

Follow me on Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

NEVER INVESTMENT ADVICE.

My guest today is Byron Tully, it’s his second time on Talking Billions. I had the pleasure of having lunch with Byron in a Parisian brasserie not long ago. We had a delightful conversation on many of the topics we are both passionate about.

Byron is the author of The Old Money Book - How To Live Better While Spending Less - Secrets of America's Upper Class. He's also written The Old Money Guide To Marriage, Old Money Style, and Old Money - New Woman.

The Old Money Book alone has over 700 4-star reviews on Amazon and over 700 4-star ratings on Goodreads.

Byron's popular blog at theoldmoneybook.com has, for the past 10 years, discussed topics of personal development and old money culture with a global community of followers.

Byron is a grandson of a newspaper publisher and son of an oil industry executive.

He's been an occasional guest on radio and podcasts.

Today, we’ll talk about his book Old Money, New Woman: How To Manage Your Money and Your Life - Secrets of America's Upper Class. A wonderful book I read hopping around Parisian cafes earlier this summer.

Today:

- We discussed the creation and intent behind Byron's book "Old Money, New Woman: How To Manage Your Money and Your Life".

- Byron talked about the empowering role of money, especially for women, and the importance of 'the true nobility'.

- We explored the significance of education and the concept of living life with a purpose.

- Byron highlighted the need for toughness in life without resorting to negative behavior.

- He elaborated on his amusing take on diplomacy and the value of patience in life's decisions.

- We discussed the evolving role of women as economic decision-makers and the need to keep sudden wealth a secret.

- Byron emphasized the importance of financial planning with the principle of Plan. Earn. Save. Invest. Spend.

- We touched upon what it means to be wealthy and the critical role women play in leadership positions.

- Lastly, Byron shared inspiring stories of successful women from history.

We left the best for last, so stay with us until the end of the episode.

---- ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - My new book.

To get regular updates and bonus content, please sign-up for my substack: ⁠⁠⁠⁠https://bogumilbaranowski.substack.com/⁠⁠⁠⁠

Follow me on Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

NEVER INVESTMENT ADVICE.

Christopher Mayer (Author of 100-Baggers) - How Do You Know? A Guide to Clear Thinking About Wall Street, Investing and Life & Dear Fellow Time-Binder: Letters on General Semantics.

I’m always excited to have Chris on the show, it’s his second appearance, and we had as much fun, if not more, as last time.

Christopher Mayer is the founder of Woodlock House Family Capital and author of several books, including 100 Baggers.

Before starting Woodlock House (which went live in January 2019), Mayer worked with Bonner & Partners and the Bonner family office. He was the editor of Capital & Crisis, published by Agora Financial from 2004-2015. He was a corporate banker from 1994-2004 and graduated magna cum laude with a degree in finance from the University of Maryland. He also has an MBA from the same institution.

He is the author of Invest Like A Dealmaker: Secrets of a Former Banking Insider (2008), World Right Side Up: Investing Across Six Continents (2012), 100 Baggers: Stocks that Return 100-to-1 and How to Find Them (2015) and How Do You Know? A Guide to Thinking Clearly About Wall Street, Investing and Life (2018). Dear Fellow Time-Binder: Letters on General Semantics.

Today we focus on the last two books.

Today:

• We discussed Alfred Korzybski's concept of time-binding and its implications for human learning.

• Chris emphasized understanding the limits of our knowledge as a form of wisdom.

• We explored tools for effective transmission and retention of knowledge.

• Chris talked about oversimplifying cause and effect and our tendency to use abstractions.

• We discussed the idea of structural differential and its importance in interpreting reality.

• Chris shared his perspective on how labels can influence investing decisions.

• We delved into the differences between facts and inferences.

• We discussed thought-provoking ideas like 1+1 not always equalling 2 and the possibility of rewriting history.

• Chris introduced the concept of delayed reaction.

• We discussed the need for a nuanced view of the world, moving beyond binary perspectives taught in school.

• We talked about the binary view of success and failure, advocating for a more nuanced perspective.

• We discussed misguided certainty and the problems it can cause.

• Chris proposed Wendell Johnson's set of questions as a starting point for those new to semantics.

• We left the best for last, and concluded by discussing the illusion of contentment tied to wealth accumulation

---- ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - My new book.

To get regular updates and bonus content, please sign-up for my substack: ⁠⁠⁠⁠https://bogumilbaranowski.substack.com/⁠⁠⁠⁠

Follow me on Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

NEVER INVESTMENT ADVICE.

Ep670: Bogumil Baranowski – Be Careful With Businesses in Secular Decline

Full Credit: Andrew Stotz and his My Worst Investment Ever Podcast

Bogumil Baranowski is a founding partner of Sicart Associates, LLC, a New York City investment firm. He has almost two decades of investment experience. He is the author of Outsmarting the Crowd and Money, Life, Family. He is the host of the Talking Billions Podcast.

Lessons from investing mistakes:

• Just because it’s cheap, don’t compromise on other factors that affect a stock, such as debt, management, and secular decline.
• Decide to cut your losses and not just think in terms of money but also in terms of time
• As an investor, money is one thing, but time is also crucial. Don’t waste too much time on a bad investment.
• It’s not only what you’re buying but also what you choose not to buy that can make a difference in the portfolio.
• Too much debt in a company is a red flag.
• Pay attention to how the management communicates with you.
• Be careful with a secular decline if you’re a value investor looking for a bargain.
• A company that can hold on to cash and is ready to survive will flourish in any economic downturn.

• Debt is the number one risk for an existing company. Run with a minimal amount of debt.
• When acquisitions come along, and you got the cash, you can move fast and beat your competitors.
• Just because it’s cheap doesn’t mean you have to buy it.

When analyzing a company, pay attention and ask the right questions. Take the time to get to know the company’s story. Then explore the worst thing that can happen and how you can lose money on that business. Once you have that figured out, you can get excited about why you can make money in it.

If you’re new to investing, Bogumil recommends reading One Up On Wall Street by Peter Lynch. If you know a bit about investing, then any book about Warren Buffett is fantastic.

---- ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - My new book.

To get regular updates and bonus content, please sign-up for my substack: ⁠⁠⁠⁠https://bogumilbaranowski.substack.com/⁠⁠⁠⁠

Follow me on Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

NEVER INVESTMENT ADVICE.

Dr. Milo Jones is currently a Senior Advisor for Geopolitics and Technology at Arcano Partners in Madrid, and a Visiting Researcher at the Changing Character of War Centre at Pembroke College Oxford.  In addition, he teaches at both IE Business School in Madrid and at Imperial College London.  Previously, he worked at Accenture in London, for Morgan Stanley Dean Witter in New York, and served as an officer in the US Marine Corps.  He is the co-author of Constructing Cassandra:  Reframing Intelligence Failure at the CIA, 1947-2001, published in 2013 by Stanford University Press.  A native of Manhattan, he currently lives in Warsaw, Poland. https://www.linkedin.com/in/inveniam/

https://twitter.com/Inveniam

We talk about Milo’s eight years in the Marine Corps, the study of intelligence agencies’ failures that come from the failure of imagination. Milo discusses his work reframing those failures. Milo emphasizes the importance of the quality of questions and diversity in analyzing complex problems. We talk about the big-picture geopolitical situation and so much more.

The mental models we examine can help us make better decisions in all areas of our life, including investing.

What can we learn from intelligence agencies’ failures? Please help me welcome Milo Jones. 

https://www.linkedin.com/in/inveniam/

https://twitter.com/Inveniam

---- ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - My new book.

To get regular updates and bonus content, please sign-up for my substack: ⁠⁠⁠https://bogumilbaranowski.substack.com/⁠⁠⁠

Follow me on Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

NEVER INVESTMENT ADVICE.

I had the pleasure of hearing Prof. Finkle speak in Omaha earlier this year, and he was kind enough to join me for today’s discussion. It was a real joy to have him on the show, and learn a lot more about our shared hero, Warren Buffett from a different perspective. Todd A. Finkle, Ph.D. is the Pigott Professor of Entrepreneurship at Gonzaga University. He is also an investor, entrepreneur, speaker, and consultant. His research interests include entrepreneurship, famous entrepreneurs, and the business methods and career of Warren Buffett.   His most recent book, published by Columbia University Press, is Warren Buffett: Investor and Entrepreneur. Todd won an award (Bronze Medal) for the best business biography for the Axiom Business Books Awards.   It traces the entrepreneurial paths that shaped Buffett’s career and how he developed it into a global conglomerate through the imaginative deployment of financial instruments and creative deal making. By viewing Buffett as an entrepreneur, Finkle’s book offers readers a fresh take on one of the world’s best-known financial titans. Dr. Finkle is a native of Omaha, having graduated from Omaha Central High School. He earned his undergraduate and doctoral degrees from the University of Nebraska-Lincoln and an MBA from the University of Wisconsin-Madison.   Links: https://www.linkedin.com/in/todd-a-finkle-phd-a59888b6/ https://www.gonzaga.edu/school-of-business-administration/faculty/detail/finkle https://twitter.com/ToddFinkle https://www.toddfinkle.com/ ---- ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ To get regular updates and bonus content, please sign-up for my substack: ⁠⁠⁠https://bogumilbaranowski.substack.com/⁠⁠⁠ Follow me on Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ NEVER INVESTMENT ADVICE.

Ted Seides is a famous podcaster, renowned industry expert, and a best selling author who is all about compounding knowledge and relationships. We are talking about his new book ⁠**Private Equity Deals: Lessons in investing, dealmaking, and operations from private equity professionals⁠**

https://www.capitalallocators.com/

Takeaways

• Ted Seides emphasizes the importance of aligning incentives in private equity.

• Private equity managers own a significant portion of the economy, around 10,000 businesses.

• The media often portrays private equity negatively, focusing on failures rather than successes.

• Private equity allows for more control and decision-making compared to public markets. The evolution of private equity has led to increased competition and higher prices.

• Employee ownership can drive business success and improve performance.

• The investment horizon in private equity is typically three to five years, but some firms seek to hold longer.

• Different owners bring unique expertise to businesses at various stages of growth. Permanent capital structures could change the landscape of private equity investing.

• Success is defined personally, focusing on fulfillment and enjoyment in work.

Podcast Program – Disclosure Statement

Blue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm’s employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice.

Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies.  Investments involve risk and unless otherwise stated, are not guaranteed. 

Information expressed does not take into account your specific situation or objectives, and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation.  Past performance is not indicative of future performance.

BONUS EPISODE: My interview with Assel Altayeva on her wonderful podcast: Femmes Finance Podcast. I highly recommend it!

From Assel:

Welcome to the Femmes Finance Podcast, the ultimate destination for young women who want to take control of their finances and achieve financial independence and career success.

Episode Summary:

What does it take to become a successful value investor? In this episode, we're joined by Bogumil Baranowski, an experienced Investment Advisor and Founding Partner of Sicart Associates, a boutique investment firm that caters to families and entrepreneurs on both sides of the Atlantic and the Pacific. Bogumil is also a podcast host of Talking Billions, TEDx speaker, and author of three bestselling books about investing, managing family fortunes, and navigating crisis.In this episode, you have an amazing opportunity to learn from Bogumil Baranowski about investment strategies and disciplines, drawing on the wisdom of successful investors such as Warren Buffett, Peter Lynch, and Phil Fisher. This episode is packed with valuable advice on investment management and empowerment, Don't miss out on this exciting podcast episode!

Chapters:

0:01:33 - Introduction to Investment

0:07:15 - Investment Strategies

0:13:32 - Common Mistakes in Value Investing

0:22:42 - The Benefits of Passive Investing

0:27:51 - Learning From Financial History

0:36:33 - Nurturing Investment Talent

Follow Us:

Assel ALTAYEVA:

LinkedIn (https://www.linkedin.com/in/asselaltayeva/)

Femmes Finance (https://www.linkedin.com/company/femmesfinance/?viewAsMember=true)

Bogumil BARANOWSKI:

LinkedIn (https://www.linkedin.com/in/bogumil-baranowski/)

Personal Website (https://www.bogumilbaranowski.com/)

Talking Billions Podcast (https://www.talkingbillions.co/)

Crisis Investing Book - Amazon Link

Money, Life, Family Book - Amazon Link

Outsmarting the Crowd Book - Amazon Link

TEDx | The Great Investor In You - YouTube Link

---- ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - My new book.

To get regular updates and bonus content, please sign-up for my substack: ⁠⁠⁠https://bogumilbaranowski.substack.com/⁠⁠⁠

Follow me on Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

NEVER INVESTMENT ADVICE.

I'm delighted to bring you today's guest, the insightful Adam Ashton. If you have a thirst for knowledge, you're in for a treat! Adam is one half of the amazing team behind “What You Will Learn,” Australia’s top book podcast. Alongside Adam Jones, they've captivated millions with over 400 episodes discussing the books they’ve read. They’ve also penned two best-sellers, with the second titled "Attitude" (you’ll find links in the notes).

My introduction to Adam's podcast was during a peaceful drive in Panama. The engaging talks about books were a perfect match for my love of reading, and soon I was hooked! I listened to episode after episode and found myself adding books to my reading list.

Eager to chat about books, I reached out, and to my joy, Adam Ashton agreed to join us today!

With a diverse background in physiotherapy, economics, finance, and digital marketing, Adam turned to books to seek answers to life’s questions. His favorite books have not only broadened his knowledge but also helped him understand himself and the world.

Today, Adam shares his love for reading and how it led him to create “What You Will Learn.” He believes books are often overlooked treasures that hold simple yet life-changing wisdom.

Looking for happiness? Adam shares insights from books that reveal keys to happiness through connections, meaningful work, and understanding values.

Adam also talks about passion, hard work, and staying committed - themes that are common in many books and crucial for success. He delves into different mindsets and explains how they can shape our approach to work and life.

Public speaking fans, take note! Adam discusses how speaking skills can be highly valuable and even touches upon the fascinating concept of the “Halo Effect.”

We also explore the powerful impact of writing and how it can be a tool for personal growth.

Adam’s advice for all of us is to take action, embrace new opportunities, and stay open to learning.

Speaking with Adam was truly inspiring. This episode is packed with gems of wisdom, so sit back, relax, and please join me in welcoming the wonderful Adam Ashton.

Enjoy the episode!

 ⁠https://www.whatyouwilllearn.com/

---- ⁠⁠⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠⁠⁠ - My new book.

To get regular updates and bonus content, please sign-up for my substack: ⁠⁠https://bogumilbaranowski.substack.com/⁠⁠

Follow me on Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

NEVER INVESTMENT ADVICE.

In today's episode, we have the privilege of conversing with the accomplished Jacob McDonough, founder and portfolio manager of McDonough Investments, and the author of the insightful book, "Capital Allocation: The Financials of a New England Textile Mill (1955 - 1985)".

I was introduced to Jacob’s book through my good friend Direk from Bangkok, who also accompanied me at this year's Berkshire meeting in Omaha. While there, I had the opportunity to attend a panel discussion moderated by Jacob. Subsequently, I delved into his book and was thrilled when Jacob graciously agreed to join us for this podcast interview.

Before we dive in, I'd like to mention that Jacob has recently launched an intriguing podcast called "The 10-K Podcast", which I highly recommend. You can find the links in the notes.

In our enlightening conversation today, Jacob unveils the fascinating narrative behind his book on Berkshire Hathaway, shedding light on his motivations and the meticulous process of writing it.

He shares an unexpected lesson that stands out. He elaborates on the importance of not to investing in certain business.

Jacob discusses the critical role of emotional discipline in making investment decisions.

He Reveals the humble beginnings of Berkshire with some initially underperforming businesses.

We identify three central themes in his book: the quest for capital, the masterful capital allocation, and Buffett’s fondness for businesses with growing cash flows.

We discuss Buffett’s Berkshire’s early history with the use of debt, and capital raises.

Jacob explores the variety of businesses Buffett favored, including newspapers and toll bridges, and uncovers the commonalities they shared.

Jacob offers a deep dive into the pivotal role See’s Candies played in Berkshire's early financial success, emphasizing its margins, debt-free status, and minimal capital requirements.

Jacob McDonough's meticulous research and thoughtful writing make his book an invaluable resource for dedicated investors and followers of Buffett alike.

Please join me in extending a warm welcome to the insightful and accomplished Jacob McDonough.

Enjoy this episode filled with rich insights and thoughtful reflections.

https://twitter.com/McD_Investments

---- ⁠⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠⁠ - My new book.

To get regular updates and bonus content, please sign-up for my substack: ⁠https://bogumilbaranowski.substack.com/⁠

Follow me on Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

NEVER INVESTMENT ADVICE.

Evan Tindell brings together a wide range of life, professional, and academic knowledge and experience. His poker player career, MIT degree, and years at an investment firm shaped him to become a successful value investor. Our talk focuses on the years of the pandemic crisis markets. It was a time of major extreme, where many saw the stock market as the biggest casino in the world, while investors like Evan stayed disciplined and rode the waves, seizing opportunities and avoiding the worst risks.

Evan is a Co-founder and Chief Investment Officer of Bireme Capital. He develops firm-wide investment strategy and performs both bottom-up research and portfolio management for the flagship Fundamental Value strategy.

​

​Evan worked for 7 years at Ballentine Capital, where he was the lead equity analyst at the value-oriented long/short equity fund. Prior to that he spent 3 years as a professional poker player, where his successes included a 10th place finish at a European Poker Tour event.

He graduated in 2007 with a BS in Mechanical Engineering from MIT, where he was a four time All-American in tennis.

We talked about:

Evan’s childhood and upbringing and how they influenced his relationship with money and career path.

Evan’s pandemic era essays: "Investing through the pandemic, letters from Bireme Capital."

We discussed the difference between going long and short in investing and the reasons for doing both.

Evan talked about the importance of discipline during stormy times in the market.

We explored how Evan and his firm operates with a high level of uncertainty in investing.

Evan's interest in booms and busts of the past was highlighted, particularly in relation to 2020/2021.

We discuss the concept of a barbell market, with speculative stocks on one end and proven businesses on the other

We examine inflation and its impact on investing, including its potential to pop the "everything bubble."

Evan shared with me his selling strategy.

https://www.biremecapital.com/blog

---- ⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠ - My new book.

To get regular updates and bonus content, please sign-up for my substack: https://bogumilbaranowski.substack.com/

Follow me on Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

NEVER INVESTMENT ADVICE.

Scott Phillips is a Principal and Chief Investment Officer at Templeton and Phillips Capital Management, LLC.

Prior to Templeton and Phillips, Scott operated Cumberland Capital, a firm providing equity research to global and emerging market hedge funds. Before Cumberland, Scott worked as a research analyst at hedge fund management company Green Cay Asset Management, and prior to Green Cay, he was a research associate at SunTrust Robinson Humphrey.

Scott’s other professional activities include serving on the Investment Advisory Sub-Committee and the Finance Committee for the John Templeton Foundation, as well as the Audit Committee and Chair of the Board of Trustees for the Templeton Foundation, Inc. Scott is the author or coauthor of three investment books, including Investing the Templeton Way (McGraw Hill, 2008), Buying at the Point of Maximum Pessimism, and coauthor to the revised edition of The Templeton Touch. Scott received his B.A. from Sewanee: The University of the South.

Scott shared his experience of spending time with Sir John Templeton and his first conversation with him.

We discussed the concept of maximum pessimism and how it helps in investing, which aligns with Sicart Associates' contrarian approach.

Scott emphasized the importance of thrift, frugality, and saving in the value investing mindset, as mentioned in his book "Investing the Templeton Way."

We explored Sir John's exit strategy and how he timed his sales to avoid market overheating and bubbles bursting.

Scott shared his thoughts on the ideal environment for cultivating the right investor traits.

We discussed Sir John's perspective on success, focusing on how his clients' ability to send their children to school or plan for retirement was a measure of his own success, and Scott shared his similar viewpoint.

Scott discussed working with his spouse, Lauren, and how they collaborate and invest together, acknowledging that successful duos in the investment profession, especially spouses, are relatively rare.

We delved into Sir John's use of history in his investing pursuits and how it helped him be more prepared and less surprised when history repeated itself.

The sense of adventure and global travel in Sir John's life was highlighted, from his travels in Europe before WW2 to his global investments.

We explored the evolution of an investor's approach, drawing parallels between Sir John Templeton and Warren Buffett, and Scott shared his own continuous evolution as an investor.

Scott reflected on the influence of Sir John in his and Lauren's careers and how they emulate his philosophy while also incorporating their unique approach.

https://www.templetonandphillips.com/

---- ⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠ - My new book.

To get regular updates and bonus content, please sign-up for my substack: ⁠https://bogumilbaranowski.substack.com/⁠

Follow me on Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

NEVER INVESTMENT ADVICE.

Eugene Ng is a Singapore-based investor, the Founder and Chief Investment Officer of Vision Capital & Vision Capital Ventures. He is also an author of the Amazon best selling book, "Vision Investing: How We Beat Wall Street & You Can, Too!". He also teaches investing once a year to educate new investors, and to give back.

Vision Capital invests only in publicly traded companies that reflect the best vision for our future, changing & shaping the world for the better.

Born and raised in Singapore, Eugene studied economics and finance where he received his Summa Cum Laude from the Singapore Management University in 2008. Eugene is also a keen sportsman and he represented the Singapore National Team in Water Polo in the 2007 Southeast Asian Games, winning their 22nd consecutive Team Gold.

Eugene’s career in Finance spans over 11 years. His career started in 2008, joining Citi as a Management Associate for 3 years. Subsequently, he was with J.P. Morgan providing FX and Interest Rates sales & advisory for corporates for over 8 years, where he was a Vice-President.

Eugene and I recorded the episode before Buffett’s Berkshire Meeting in Omaha, I had the pleasure to seeing him in person at the event, and talking more. His passion for investing, and his curiosity beams through in this recording as much as it did when we met.

Today, Eugene shares with us stories from his childhood and young adulthood. We go on a rollercoaster ride from growing up with no money, and a parent with a gambling addiction to a near-death experience, to discovering his ikigai, his true reason for being. We discuss stock investing, and how it can be a path to wealth. We discover how long-term investing works best. Eugene shares his thoughts on the futility of market timing. We learn about various types of companies he likes, and why it pays to never sell entirely your position. You’ll find a lesser-known story about Steve Jobs towards the end of the episode, too.

Please help me welcome, Eugene Ng.

Vision Capital - https://visioncapital.group

Vision Capital Ventures - https://visioncapital.group/vision-capital-ventures

Vision Investing (Book) - bit.ly/visioninvest

Twitter - https://twitter.com/EugeneNg_VCap

LinkedIn - https://sg.linkedin.com/in/eugene-ng-visioncapital

Substack - https://visioninvesting.substack.com/

---- ⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠ - My new book. To get regular updates and bonus content, please sign-up for my substack: ⁠https://bogumilbaranowski.substack.com/⁠

Follow me on Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Talking Billions⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Read ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Money, Life, Family⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - the book.

NEVER INVESTMENT ADVICE.

Ted Oakley is the Managing Partner and Founder of Oxbow Advisors.  With more than forty years of experience in advising high net worth clients in the investment industry, He is a frequent guest on FOX Business News, Bloomberg Radio, Cheddar TV, Yahoo Finance, and many more. Mr. Oakley is a Chartered Financial Analyst (CFA) and a Certified Financial Planner (CFP).  He is a member of the Austin Society of Financial Analysts.  He is also a Partner of Herndon Plant Oakley Ltd., an investment company. He is a Board Member of Texas State Aquarium, American Bank, and American Bank Holding Company. Mr. Oakley is a United States Army Veteran. Mr. Oakley began his career in Dallas, Texas, over 35 years ago. He is the author of nine books on family wealth, staying rich, money mentality, and more. Links are in the notes. Mr. Oakley’s primary philanthropic interest is helping children. A good friend based in Asia introduced me to Ted’s son Keys who was kind enough to help set up this recording. My friend is both an inheritor and wealth creator himself, and curious about the topics we discuss today, I soon discovered that Ted had interviewed my dear friend Jay Hughes, an advisor to wealthy families, and author, who was an early guest on my show. Today, Ted and I will discuss the peculiar challenges and opportunities associated with staying rich. We are reminded that any fortune that can be made, can be lost. We talk about the importance of keeping family stories alive. Ted points out how there are over a million people in the US with a net worth of $10-$15 million, yet they drop out from this group regularly. We investigate the reasons. It’s music to my ears when Ted emphasizes the need to have liquidity, idle cash on the side. We end with the topic of the next generation. Ted was a real delight to talk to; we found many overlaps with how we think at Sicart Associates. I also learned a lot, I hope you do too. Please help me welcome – Ted Oakley.

www.oxbowadvisors.com

https://oxbowadvisors.com/books/

---- ⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠ - My new book.

To get regular updates and bonus content, please sign-up for my substack: ⁠https://bogumilbaranowski.substack.com/⁠

Follow me on Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Talking Billions⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Read ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Money, Life, Family⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - the book.

NEVER INVESTMENT ADVICE.

Nicki has an extensive experience in media, a degree in radio-television-film, and a passion for history. For four years, she worked on multiple History Channel documentaries and was a research consultant for USA's Mr. Robot.

In her history podcast As The Money Burns, Nicki reconstructs the Great Depression through the lives of actual heirs and heiresses.

She brings back to life the tales of the rich living through the Great Depression. She sets the stage by telling us about the summer before the 1929 crash. We learn about a number of young heirs and heiresses and the lives they live.

There was so much that changed at the time, the newspapers started to follow the stories of the wealthy, and they were losing their anonymity. Taxation was on the rise, so were fraud, Ponzi schemes, and more. We hear about bank runs and how no matter how rich ones are, it's not hard, and maybe extremely easy, to lose it all.  

The stories we hear are almost a hundred years old, they are as relevant today as they were then. 

Only this week, I took a call from someone who's been reading my articles. His family tale is set between two continents and resembles so many of the stories we'll hear today talking with Nicki.  

Someone once reminded me that it's not easy, but it's cheaper to learn from the mistakes of others.  

Let's go back to the Roaring 20s and the Great Depression Era with my guest - Nicki Woodard. 

https://asthemoneyburns.com/

TW / IG – @asthemoneyburns

Facebook – https://www.facebook.com/asthemoneyburns/

---- ⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠ - My new book.

To get regular updates and bonus content, please sign-up for my substack: ⁠https://bogumilbaranowski.substack.com/⁠

Follow me on Twitter: ⁠⁠⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Talking Billions⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Read ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Money, Life, Family⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - the book.

NEVER INVESTMENT ADVICE.

Let's get to NUMBER #1 together! Kindle at $0.99, Already TOP #2 in Finance & Wealth Management, TOP #3 in Stock Market Investing & Investing in Amazon Hot New Releases. Get your copy today! ⁠⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - My new book.

Crisis Investing: An Apple, A Plague, and A Bubble

Another sample essay for you to enjoy.

“In the midst of every crisis lies great opportunity” – Albert Einstein This book is a chronological collection of 100 essays written over three years during the Global COVID Pandemic, with an added retrospective commentary. It is a treasure trove of everlasting investment principles shared through lessons, experiences, and memories from managing family fortunes through one of the most challenging periods for the economy and the stock market. As the author picked up his laptop and embarked on a personal journey, these essays were written in a midtown Manhattan high-rise office, two remote cabins in the woods, and the tropics, among other places. His perspective changed, while current events offered ample inspiration to write.

"I highly recommend that anyone serious about long-term investing should not only add this book to their library but also include Bogumil in their investment ecosystem." - Guy Spier, a Zurich-based investor, the Author of The Education of a Value Investor, the manager of the Aquamarine Fund

"Bogumil Baranowski's book, Crisis Investing, presents an insightful chronicle of the various challenges that investors faced during the pandemic era. With a wealth of experience as an investment advisor, Baranowski's collection of personal essays provides readers with invaluable lessons and advice on navigating markets and building wealth." - Lauren Templeton, Founder & Principal of Templeton & Philips Capital Management, LLC, the author with Scott Philipps of Investing the Templeton Way

"For me, the years covered in your book have been a good test of core investment principles, especially being patient. Your book is a collection of wise observations made in real-time during those years and yet are timeless, as the best investment principles should be!" - Christopher Mayer, the Author of 100 Baggers: Stocks That Return 100-to-1 and How To Find Them

“A valuable compilation which helps build the required mental & emotional resilience for the highly volatile world investors operate in.” - Gautam Baid, the Author of The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Managing Partner, Stellar Wealth Partners India Fund

"Since I met him, I've been thoroughly impressed with Bogumil in many ways: His knowledge, passion for life and investing, preparation level, and thoughtfulness in every interaction and question he asks. For these reasons and many more, he's the perfect person to write the book on how to invest through a crisis, generally and specifically through the one we just lived through with the Covid pandemic." - Brad Barrett, Co-founder and Host of the ChooseFI Podcast

"I believe in Bogumil, and I can say that he’s one of the good guys in the finance space." - John Soforic, the Author of The Wealthy Gardener: Lessons on Prosperity ---- NEVER INVESTMENT ADVICE.

Let's get to NUMBER #1 together! Kindle at $0.99, Already TOP #2 in Finance & Wealth Management, TOP #3 in Stock Market Investing & Investing in Amazon Hot New Releases. Get your copy today! ⁠⁠⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - My new book. Crisis Investing: Infinite Investing: How do we win a game that has no end?

Another sample essay for you to enjoy. “In the midst of every crisis lies great opportunity” – Albert Einstein This book is a chronological collection of 100 essays written over three years during the Global COVID Pandemic, with an added retrospective commentary. It is a treasure trove of everlasting investment principles shared through lessons, experiences, and memories from managing family fortunes through one of the most challenging periods for the economy and the stock market. As the author picked up his laptop and embarked on a personal journey, these essays were written in a midtown Manhattan high-rise office, two remote cabins in the woods, and the tropics, among other places. His perspective changed, while current events offered ample inspiration to write.

"I highly recommend that anyone serious about long-term investing should not only add this book to their library but also include Bogumil in their investment ecosystem." - Guy Spier, a Zurich-based investor, the Author of The Education of a Value Investor, the manager of the Aquamarine Fund

"Bogumil Baranowski's book, Crisis Investing, presents an insightful chronicle of the various challenges that investors faced during the pandemic era. With a wealth of experience as an investment advisor, Baranowski's collection of personal essays provides readers with invaluable lessons and advice on navigating markets and building wealth." - Lauren Templeton, Founder & Principal of Templeton & Philips Capital Management, LLC, the author with Scott Philipps of Investing the Templeton Way

"For me, the years covered in your book have been a good test of core investment principles, especially being patient. Your book is a collection of wise observations made in real-time during those years and yet are timeless, as the best investment principles should be!" - Christopher Mayer, the Author of 100 Baggers: Stocks That Return 100-to-1 and How To Find Them

"Since I met him, I've been thoroughly impressed with Bogumil in many ways: His knowledge, passion for life and investing, preparation level, and thoughtfulness in every interaction and question he asks. For these reasons and many more, he's the perfect person to write the book on how to invest through a crisis, generally and specifically through the one we just lived through with the Covid pandemic." - Brad Barrett, Co-founder and Host of the ChooseFI Podcast

"I believe in Bogumil, and I can say that he’s one of the good guys in the finance space." - John Soforic, the Author of The Wealthy Gardener: Lessons on Prosperity ---- NEVER INVESTMENT ADVICE.

Derek Sivers is a musician, circus performer, entrepreneur and speaker. He is a slow thinker, explorer, and loves a different point of view. He is a California native living in New Zealand.

https://sive.rs/

Today, we discuss his new book that may shed a different light on the beliefs we hold.

Takeaways

Almost nothing people say is true

Your thoughts aren’t true

Ideas can be useful, not true

Which perspective empowers you?

Reframe: find better perspectives

Traits of useful beliefs and perspectives

Adopt what works for you now

You are what you pretend to be

Blue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm’s employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice.

Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies.  Investments involve risk and unless otherwise stated, are not guaranteed. 

Information expressed does not take into account your specific situation or objectives, and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation.  Past performance is not indicative of future performance.

Podcast Program – Disclosure Statement

Let's get to NUMBER #1 together! Kindle at $0.99, Already TOP #2 in Finance & Wealth Management, TOP #3 in Stock Market Investing & Investing in Amazon Hot New Releases. Get your copy today! ⁠⁠⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - My new book. Another sample essay for you to enjoy.

Crisis Investing: Investing in Times of Pandemic

“In the midst of every crisis lies great opportunity” – Albert Einstein

This book is a chronological collection of 100 essays written over three years during the Global COVID Pandemic, with an added retrospective commentary. It is a treasure trove of everlasting investment principles shared through lessons, experiences, and memories from managing family fortunes through one of the most challenging periods for the economy and the stock market. As the author picked up his laptop and embarked on a personal journey, these essays were written in a midtown Manhattan high-rise office, two remote cabins in the woods, and the tropics, among other places. His perspective changed, while current events offered ample inspiration to write.

"I highly recommend that anyone serious about long-term investing should not only add this book to their library but also include Bogumil in their investment ecosystem." - Guy Spier, a Zurich-based investor, the Author of The Education of a Value Investor, the manager of the Aquamarine Fund

"Bogumil Baranowski's book, Crisis Investing, presents an insightful chronicle of the various challenges that investors faced during the pandemic era. With a wealth of experience as an investment advisor, Baranowski's collection of personal essays provides readers with invaluable lessons and advice on navigating markets and building wealth." - Lauren Templeton, Founder & Principal of Templeton & Philips Capital Management, LLC, the author with Scott Philipps of Investing the Templeton Way

"For me, the years covered in your book have been a good test of core investment principles, especially being patient. Your book is a collection of wise observations made in real-time during those years and yet are timeless, as the best investment principles should be!" - Christopher Mayer, the Author of 100 Baggers: Stocks That Return 100-to-1 and How To Find Them

“A valuable compilation which helps build the required mental & emotional resilience for the highly volatile world investors operate in.” - Gautam Baid, the Author of The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Managing Partner, Stellar Wealth Partners India Fund

"Since I met him, I've been thoroughly impressed with Bogumil in many ways: His knowledge, passion for life and investing, preparation level, and thoughtfulness in every interaction and question he asks. For these reasons and many more, he's the perfect person to write the book on how to invest through a crisis, generally and specifically through the one we just lived through with the Covid pandemic." - Brad Barrett, Co-founder and Host of the ChooseFI Podcast

"I believe in Bogumil, and I can say that he’s one of the good guys in the finance space." - John Soforic, the Author of The Wealthy Gardener: Lessons on Prosperity ---- NEVER INVESTMENT ADVICE.

Let's get to NUMBER #1 together! Kindle at $0.99, Already TOP #2 in Finance & Wealth Management, TOP #3 in Stock Market Investing & Investing in Amazon Hot New Releases. Get your copy today! ⁠⁠⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - My new book. Another sample essay for you to enjoy.

Crisis Investing: 100 Essays - In Search of Calm

“In the midst of every crisis lies great opportunity” – Albert Einstein

⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠ - My new book. This book is a chronological collection of 100 essays written over three years during the Global COVID Pandemic, with an added retrospective commentary. ---- NEVER INVESTMENT ADVICE.

Let's get to NUMBER #1 together! Kindle at $0.99, Already TOP #2 in Finance & Wealth Management, TOP #3 in Stock Market Investing & Investing in Amazon Hot New Releases. Get your copy today! ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - My new book.

Crisis Investing: 100 Essays - Introduction

“In the midst of every crisis lies great opportunity” – Albert Einstein

⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠ - My new book. This book is a chronological collection of 100 essays written over three years during the Global COVID Pandemic, with an added retrospective commentary. It is a treasure trove of everlasting investment principles shared through lessons, experiences, and memories from managing family fortunes through one of the most challenging periods for the economy and the stock market. As the author picked up his laptop and embarked on a personal journey, these essays were written in a midtown Manhattan high-rise office, two remote cabins in the woods, and the tropics, among other places. His perspective changed, while current events offered ample inspiration to write.
"I highly recommend that anyone serious about long-term investing should not only add this book to their library but also include Bogumil in their investment ecosystem." - Guy Spier, a Zurich-based investor, the Author of The Education of a Value Investor, the manager of the Aquamarine Fund
"Bogumil Baranowski's book, Crisis Investing, presents an insightful chronicle of the various challenges that investors faced during the pandemic era. With a wealth of experience as an investment advisor, Baranowski's collection of personal essays provides readers with invaluable lessons and advice on navigating markets and building wealth." - Lauren Templeton, Founder & Principal of Templeton & Philips Capital Management, LLC, the author with Scott Philipps of Investing the Templeton Way
"For me, the years covered in your book have been a good test of core investment principles, especially being patient. Your book is a collection of wise observations made in real-time during those years and yet are timeless, as the best investment principles should be!" - Christopher Mayer, the Author of 100 Baggers: Stocks That Return 100-to-1 and How To Find Them
“A valuable compilation which helps build the required mental & emotional resilience for the highly volatile world investors operate in.” - Gautam Baid, the Author of The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Managing Partner, Stellar Wealth Partners India Fund
"Since I met him, I've been thoroughly impressed with Bogumil in many ways: His knowledge, passion for life and investing, preparation level, and thoughtfulness in every interaction and question he asks. For these reasons and many more, he's the perfect person to write the book on how to invest through a crisis, generally and specifically through the one we just lived through with the Covid pandemic." - Brad Barrett, Co-founder and Host of the ChooseFI Podcast
"I believe in Bogumil, and I can say that he’s one of the good guys in the finance space." - John Soforic, the Author of The Wealthy Gardener: Lessons on Prosperity ----

NEVER INVESTMENT ADVICE.

Ellen Carr has over two decades of experience as a high-yield bond portfolio manager, most recently at Barksdale Investment Management (BIM), a majority-women-owned, institutional fixed-income investment management firm based in Nashville, TN.

Ellen has been an adjunct professor of finance at Columbia Business School since 2012, where she teaches courses on the credit markets and cash flow modeling.

Ellen is also a writer. She is a frequent contributor to the Financial Times and the co-author of a book on women in investment management published in the summer of 2021 by Columbia University Press.

Ellen has an MBA from the Kellogg Graduate School of Management at Northwestern University. She received her B.A. from Harvard in 1994, where she graduated magna cum laude and Phi Beta Kappa.

Ellen splits her time among Asheville, North Carolina, rural Tennessee, and New York. She has a son, a cat, and a pandemic puppy.

Katrina Dudley, CFA, CAIA, is a Senior Vice President, Portfolio Manager, and Investment Strategist at Franklin Templeton Investments, one of the world’s largest asset managers, where she co-manages the Franklin Mutual Global Discovery and Franklin Mutual European Funds. 

Ms. Dudley has a passion for advocating for women in finance and business.  She is the author of the introduction to the Vault Career Guide to Mutual Funds. She co-authored with Columbia Business School Adjunct Professor Carr “Undiversified: The Big Gender Short in Investment Management.”  Ms. Dudley is a frequent market commentator on Bloomberg and other media outlets.

Ms. Dudley earned an M.B.A. from New York University's Stern School of Business, a Law degree (with first-class honors) and a Commerce degree from Bond University (Australia), and an Associate of Science degree (Computer Science) from the University of the People. She is a Chartered Financial Analyst (CFA) Charter holder and a Chartered Alternative Investment Analyst (CAIA).  

Today, we talk about:

1)   Ellen and Katrina’s childhood, upbringing, and career path.

2)   Their book Undiversified: The Big Gender Short in Investment Management

3)   The need and ways to include more women in the investment profession.

4)   Ellen and Katrina share their research and advice on creating more opportunities for women, from entry-level analyst roles to paths to promotion and retention later on.

5)   We discuss how women are more risk aware, not necessarily risk averse.

6)   Stay tuned until the end, when we talk about how this challenge of being undiversified when it comes to gender can be the next opportunity for investment management as a profession and industry. The book - find it here.

---- ⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠ - My new book.

To get regular updates and bonus content, please sign-up for my substack: ⁠https://bogumilbaranowski.substack.com/⁠

Follow me on Twitter: ⁠⁠⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Talking Billions⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Read ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Money, Life, Family⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - the book.

NEVER INVESTMENT ADVICE.

Warren Buffett and Charlie Munger’s 2023 Berkshire Hathaway Meeting

I got up and stood on a platform — a microphone in front of me, a beam of bright light in my face. Warren Buffett just called me to ask a question in front of tens of thousands of people around me and millions watching worldwide. I was in the middle of Berkshire Hathaway’s Annual Meeting – the Woodstock for Capitalists held in Omaha, Nebraska, each year. It was my turn to speak; I said: “Thank you for making our lives better.” My words echoed back, confusing me for a moment; I proceeded with the question, nonetheless!

Before I share with you what followed, I must thank everyone who asked me if I’m going to Omaha this year. There were many of you, many more than usual: Guy Spier, William Green, Adam Mead, Gautam Baid, Phil Ordway, Christopher Tsai, Robert Karas, Saurabh Madaan, Jeff Henriksen, Ninad Shinde, Jake Taylor, Gillian Zoe Segal, Eugene Ng, Tyler Howell, John Mihaljevic, Alex Wetterling, Tilman Versch, and many others. Special credit goes to Lauren Templeton, though, who, in our podcast conversation, finally convinced me to pack up and head over on this very special pilgrimage, my first in a long time. Thank you, Lauren!

Read here or listen to the episode.

---- ⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠ - My new book <-- check it out on Amazon.

To get regular updates and bonus content, please sign-up for my substack: ⁠https://bogumilbaranowski.substack.com/⁠

Follow me on Twitter: ⁠⁠⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Talking Billions⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Read ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Money, Life, Family⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - the book.

NEVER INVESTMENT ADVICE.

In the world of investing, we keep looking for an edge; everyone wants to be smarter, and faster, I often say I’m probably more patient than most. My guest today might know of a secret edge worth sharing.  

Carl Honoré is a bestselling author, broadcaster and the voice of the Slow Movement. His two main-stage TED Talks have racked up millions of views. His TED Course is entitled How to slow down.

Carl travels the world to deliver powerful keynotes that put time and tempo in a whole new light. His counter-intuitive message is simple but game-changing: To thrive in a fast world, you have to slow down.

Carl’s first book, In Praise of Slow, chronicles the global trend toward putting on the brakes in everything from work to food to parenting.  

Carl’s second book, Under Pressure explores how to raise and educate children in a fast world and was hailed by Time as a “gospel of the Slow Parenting movement.”

Carl’s third book, The Slow Fix, explores how to tackle complex problems in every walk of life, from health and relationships to business and politics, without falling for superficial, short-term quick fixes.

Carl’s latest book, Bolder: Making The Most Of Our Longer Lives, explores ageing – how we can do it better and feel better about doing it. It’s a spirited manifesto against ageism.

We talked about the following ideas:

1.      Speed is not always the best – that idea that it’s the fittest that survive, not the fastest!

2.      The biggest challenge to the slow movement is alleged price, the sacrifice we need to pay if we dare to slow down – Carl shares his perspective.

3.      Boredom is a modern invention.

4.      A contradiction, and contrast of sorts, where we could both praise speed and slowness. How do we strike a balance between the fast and slow? 

5.      Being time rich and being time poor, how do become time rich in this ever-faster world we live in? 

6.      The curiosity in slowness is growing also in the industry that is speeding us up – tech industry!

7.      We touch on remote work, and how it’s changing the work, life, and speed dynamic.

8.      Leisure is not more than escape from work.

9.      Demographics, and aging, and Carl’s other book - Bolder

10. Stay tuned until the end where we talk about how we can get started on this path to slowness, how kids are growing up under lots of pressure.

Carl Honore -- Books. Carl's - Website. TED Talk.

---- ⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠ - My new book. To get regular updates and bonus content, please sign-up for my substack: ⁠https://bogumilbaranowski.substack.com/⁠

Follow me on Twitter: ⁠⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠Talking Billions⁠⁠⁠⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠⁠

Read ⁠⁠⁠⁠⁠⁠⁠⁠⁠Money, Life, Family⁠⁠⁠⁠⁠⁠⁠⁠⁠ - the book.

NEVER INVESTMENT ADVICE.

John Soforic is the owner of a real estate business and enjoys total financial freedom. He wrote The Wealthy Gardener: Lessons on Prosperity between Father and Son to distill his own wisdom on money and success for his ambitious son who was entering adulthood. John’s book became a huge success, a best-seller, and an instant classic.

He has lived in Mount Pleasant, Pennsylvania, with his wife, Patti, for over 30 years. He has a daily wealth blog at wealthygardener.com

We talk about

1)       John’s childhood and upbringing and how those days influenced his relationship with money

2)      The unique storytelling shared in the book, a parable of a Wealthy Gardener, and John’s own intimate stories of struggles and success

3)      John explains how financial freedom is a way of life

4)      We learn from John that “prosperity is the power to take a walk in the woods on a weekday, pay for college tuition, and live with choices, options, and power.”

5)      We have a fascinating discussion about how we spend our time and the need for impact activity in our days.

6)      John shares his experience with stock market investments and how real estate investment resonated better with his personality and expertise.

7)      We talk about the discomfort and the pursuit of wealth

8)      The importance of relationships and alone time

9)      Last but not least, we touch on John’s own definition of success.

John and I had a really fun conversation that continued after we stopped recording. I shared my last book with him, and he was kind enough to contribute to my new book, Crisis Investing.

I hope you enjoy this episode as much as I did. Please help me welcome John Soforic.

---- ⁠⁠Crisis Investing: 100 Essays⁠⁠ - My new book. To get regular updates and bonus content, please sign-up for my substack: ⁠https://bogumilbaranowski.substack.com/⁠

Follow me on Twitter: ⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠Talking Billions⁠⁠⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠

Read ⁠⁠⁠⁠⁠⁠⁠⁠Money, Life, Family⁠⁠⁠⁠⁠⁠⁠⁠ - the book.

NEVER INVESTMENT ADVICE.

Welcome to the special episode of Talking Billions.

It’s Berkshire Hathaway week, and some of you might be heading to Omaha for the company’s annual meeting. I’ll be there, and I might see some of you. Many of you might be following the event online. Others might be new to Buffett and his company.

As a special treat this week, I have an episode with Adam Mead for you.

Adam wrote an incredible, almost 800-page book about the history of Berkshire Hathaway. I read it all, and I highly recommend it.

Berkshire is an investment vehicle managed by Warren Buffett and Charlie Munger, two legends in the investing world.

There are many books about them and the company, but this one is unique.

Adam did an incredible job researching the history of Berkshire long before Buffett’s arrival at the helm, leaving us with hints about the future beyond Buffett.

If you are a Buffett fan, I think you’ll greatly enjoy hearing stories you might be hearing for the first time, or at least how we discuss them might offer a new perspective.

If you are new to Buffett and Berkshire, it’s a great primer in the history of a very successful investing duo, a one-of-a-kind company, and over 150 years of economic and industrial change in the United States.

We start with the whaling fortunes of the northeast, we talk about Hetty Green, a legend of Wall Street of the late 1800s, to a story of the textile industry in America, to Buffett’s arrival, and Berkshire’s prosperous growth to a giant it is today holding a stake in Apple among others. We’ll talk both about the success and some massive mishaps, too. Stay tuned until the end, where we talk about Buffett’s lesser-known involvement with Amazon soon after the dot com bubble burst.

Our conversation is a lesson in economic history seen through the experience of one company that changed and evolved and continues to flourish today.

Adam J. Mead is a life-long student of business and capital allocation. He is the CEO and Chief Investment Officer of Mead Capital Management, LLC. Adam is also the founder of watchlistinvesting.com, a value investing newsletter. Adam spent over a decade in banking in commercial credit, including observing first-hand the after effects of the Great Recession and the long credit expansion afterward.

Adam has been investing in public securities markets since 2004. Adam holds a Master of Business Administration from Southern New Hampshire University.

Twitter: @BRK_Student LinkedIn YouTube Blog: http://www.theoraclesclassroom.com Newsletter: http://watchlistinvesting.com

The Complete Financial History of Berkshire Hathaway: ---- ⁠Crisis Investing: 100 Essays⁠ - the new book. To get regular updates and bonus content, please sign-up to my substack: ⁠https://bogumilbaranowski.substack.com/⁠

Follow me on Twitter: ⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠Talking Billions⁠⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠

Read ⁠⁠⁠⁠⁠⁠⁠Money, Life, Family⁠⁠⁠⁠⁠⁠⁠ - the book.

NEVER INVESTMENT ADVICE.

Gillian Zoe Segal is the author of “Getting There: A Book of Mentors” and “New York Characters.” She received a Bachelor of Arts from the University of Michigan and a law degree from the Benjamin N. Cardozo School of Law. 

We talk about her book Getting There, and we explore the stories of many successful people. We discuss some of the themes and lessons from their experience:

1)     We start with Gillian’s own childhood and upbringing

2)      Gillian shares how none of the characters featured in her book had a smooth and steady ride to the top

3)      She shares a story of young Warren Buffett’s fear of public speaking and how he managed to overcome it

4)      We learn how the mentors in Gillian’s book had blind faith in future success despite countless rejections.

5)      We hear about the importance of treating everyone with respect.

6)      Gillian shares a lesson from Sara Blakley, the billionaire founder of Spanx how it helps to protect and nurture new ideas.

7)      We talk about how great schools and degrees are not an indispensable ingredient to success and how getting fired might have helped many of the heroes in the book succeed.

8)      We discuss the dead-ends, plateaus, and even rock bottoms in the lives of the many accomplished people that Gillian features in the book.

9)      Stay tuned until the end if you are curious to know what a big wave surfer can teach us about goals and more.

I had a lovely time chatting with Gillian and learning more about many people we all admire. Her book introduces them from a whole new perspective. I think there might be a lesson there or two for all of us. I certainly found some valuable takeaways for myself.

----

To get regular updates and bonus content, please sign-up for my substack: ⁠https://bogumilbaranowski.substack.com/⁠

Follow me on Twitter: ⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠Talking Billions⁠⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠

Read ⁠⁠⁠⁠⁠⁠Money, Life, Family⁠⁠⁠⁠⁠⁠: My Handbook: My complete collection of principles on investing, finding work & life balance, and preserving family wealth.

NEVER INVESTMENT ADVICE.

It's a bonus episode where I introduce all the previous 20+ episodes. It's a short listen, and you can choose and pick which episodes you might have missed but would enjoy listening to. Enjoy, subscribe, follow, rate, and most of all, share with your family and friends; warmly, Bogumil

To get regular updates and bonus content, please sign-up to my substack: ⁠https://bogumilbaranowski.substack.com/⁠

It's a delightful conversation with one and only Jim O'Shaughnessy

My guest today is Jim O’Shaughnessy a Wall Street veteran, founder, investor, venture capitalist, best selling author, successful podcaster, who is pursuing his curiosity in yet another direction through O’Shaughnessy Ventures.

Takeaways

Jim's childhood shaped his views on money and success.

The importance of humility in investing is crucial.

Success is not a destination but a continuous journey.

AI can enhance human creativity and productivity.

Failure should be viewed as a learning opportunity.

Building relationships with 'treadmill friends' is vital.

The market often reflects human emotions and behaviors.

Podcasting allows for the exploration of infinite topics.

The COVID pandemic accelerated changes in work culture.

Tinkering and creativity are essential in today's world.

https://www.osv.llc/

https://www.infiniteloopspodcast.com/

Podcast Program – Disclosure Statement

Blue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm’s employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice.

Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies.  Investments involve risk and unless otherwise stated, are not guaranteed. 

Information expressed does not take into account your specific situation or objectives, and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation.  Past performance is not indicative of future performance.

My guest today is Robert Karas. He is a partner and a chief investment officer at Bank Gutmann in Vienna Austria. He is a fellow Guy Spier’s ValueX attendee. He calls himself an investor on a lifelong journey. I’m a big fan of his newsletter, which you can find on LinkedIn, the link is in the notes. Robert has a way of presenting familiar ideas in a new fresh, and thoughtful way. I think that any seasoned and new investor would benefit from reading them. I highly recommend checking out his earlier posts, especially the ones written in midst of last crisis, the global COVID pandemic.

Today, we talk about Robert’s childhood, and upbringing, his investing journey. He shared with me his experience working at 100-year old institution, and how that influences the type of clients he works with, and the type of investment philosophy that his firm pursues. We discuss the benefits of writing, and how writing can make us better investors. Robert likes to call himself an outsider, and he explains why that helps in his work.

I especially like how he refers to the life of an investor as being monk like. He shares how an investment team resembles monks and nuns in a monastery. Stay tuned until the end to find out why Robert believes that it doesn’t pay to get completely out of the market at any point in time, no matter what’s happening.

I greatly enjoyed our conversation, I hope to continue to learn from Robert, and follow his writing.

After we stopped recording, I shared with Robert that Vienna was the first Western European city I saw as a kid. Poland, where I grew up, was just ending its failed experiment with a centrally planned Soviet-style economy. I have vivid memories of Vienna as being colorful, and alive compared to my early childhood Poland, which was gray, but about to dramatically change as the Cold War came to an end, and the Iron Curtain just fell. 

Without further ado, please help me welcome Robert Karas from Bank Gutmann in Vienna, Austria.

https://www.linkedin.com/in/robertkaras/

----

To get regular updates and bonus content, please sign-up for my substack: ⁠https://bogumilbaranowski.substack.com/⁠

Follow me on Twitter: ⁠⁠https://twitter.com/bogumil_nyc⁠⁠

Learn more about ⁠⁠⁠⁠⁠Talking Billions⁠⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠

Read ⁠⁠⁠⁠⁠Money, Life, Family⁠⁠⁠⁠⁠: My Handbook: My complete collection of principles on investing, finding work & life balance, and preserving family wealth.

NEVER INVESTMENT ADVICE.

My guest today is Jeff Henriksen. He is the CEO and founder of Thorpe Abbotts Capital, LLC. He is also an Associate Fellow at the University of Oxford and a contributor to Forbes.

Over the last ten years, Jeff has gained knowledge and experience as a private investor with a focus on behavioral finance. Although his investment style is rooted in the teachings of traditional value-oriented thinkers, Jeff’s philosophy centers on understanding the behavioral factors behind mispricing to unlock the core building blocks of the value premium. Using knowledge of these core building blocks, Jeff seeks to adapt traditional value investing philosophy to 21st century financial markets.

Jeff earned his MBA from the University of Oxford where he received the Dean’s Commendation Award. He also holds a master’s in finance from the University of Colorado Denver and a Bachelor of Arts from the University of Colorado Boulder, where he graduated magna cum laude in History. He is a member of the Phi Beta Kappa Society.

Today, we start with some childhood stories, and Jeff’s first entrepreneurial experience.

We dive deep into the concepts behind behavioral finance and economics in search of the new frontier or maybe the last edge in the investment world. Jeff has a gift for explaining difficult concepts in a very relatable way.

All investors read, many write, some publish, and others also teach on top of it all, Jeff tells us what he learned teaching investing at Oxford.

Jeff shares his recent memories of crisis investing while navigating through the global pandemic and tells a story of a stock trader who lived through the Cuban Missile Crisis… a story I didn’t know, but a story that gave me a new way of looking at extremely uncertain moments in time.

We have a longer discussion about obliquity, a concept that’s been on my mind lately, it’s the idea of indirectly arriving at the goal we chose.

Stay tuned to the end, one more time, my guest surprises me with a new take on the definition of success. It involves a Hollywood movie and more.

Find Jeff here: www.thorpeabbottscapital.com

----

To get regular updates and bonus content, please sign-up for my substack: ⁠https://bogumilbaranowski.substack.com/⁠

Follow me on Twitter: ⁠https://twitter.com/bogumil_nyc⁠

Learn more about ⁠⁠⁠⁠Talking Billions⁠⁠⁠⁠

Learn more about ⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠

Read ⁠⁠⁠⁠Money, Life, Family⁠⁠⁠⁠: My Handbook: My complete collection of principles on investing, finding work & life balance, and preserving family wealth.

NEVER INVESTMENT ADVICE.

Christopher Mayer is the founder of Woodlock House Family Capital and author of several books, including 100 Baggers.

Before starting Woodlock House (which went live in January 2019), Mayer worked with Bonner & Partners and the Bonner family office. He was the editor of Capital & Crisis, published by Agora Financial from 2004-2015. He was a corporate banker from 1994-2004 and graduated magna cum laude with a degree in finance from the University of Maryland. He also has an MBA from the same institution.

He is the author of Invest Like A Dealmaker: Secrets of a Former Banking Insider (2008), World Right Side Up: Investing Across Six Continents (2012), 100 Baggers: Stocks that Return 100-to-1 and How to Find Them (2015) and How Do You Know? A Guide to Thinking Clearly About Wall Street, Investing and Life (2018). Dear Fellow Time-Binder: Letters on General Semantics.

We focus our discussions mostly on the 100 bagger book, and I hope to have Christopher back on the show to talk about the other books.

We talk about the idea of finding and investing in stocks that could go up 100 times. Chris shares the story behind the inspiration for the book. We talk about building a portfolio of 100x stocks, market timing, and so much more.

I would encourage you to stay tuned until the end, when Chris sheds more light on his definition of success.

To me, Chris’ book and this conversation continue to expand my imagination when it comes to what’s possible in investing in stocks.

(www.woodlockhousefamilycapital.com).

Author Page on Amazon

https://twitter.com/chriswmayer

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Learn more about ⁠⁠⁠Talking Billions⁠⁠⁠

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Read ⁠⁠⁠Money, Life, Family⁠⁠⁠: My Handbook: My complete collection of principles on investing, finding work & life balance, and preserving family wealth.

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Lauren C. Templeton is the founder and president of Templeton & Phillips Capital Management, LLC; a value investing boutique located in Chattanooga, Tennessee. Ms. Templeton currently serves on the Board of Directors at Fairfax Financial Holdings, the Board of Directors at Fairfax India Holdings Corporation, and the Board of Directors of Canadian Solar.  

Ms. Templeton is the great-niece of Sir John M. Templeton and serves on the Board of Trustees of the John Templeton Foundation. She is also a current member the Templeton World Charities Foundation and a Trustee of Templeton Religion Trust. Ms. Templeton is the co-author of Investing the Templeton Way: The Market Beating Strategies of Value Investing’s Legendary Bargain Hunter. She received a B.A. in Economics from the University of the South.

We talk about:

 1)      Lauren’s childhood and upbringing, and growing up around investing

2)      Sir John Templeton’s optimism, and the concept of maximum pessimism

3)      Sir John’s respect for thrift, and the importance of saving

4)      Making a positive difference in clients’ lives

5)      The benefits of being a student of history

6)      Sir John’s worldly views shaped by travel

We cover so many stories from Lauren's life, and her memories of Sir John, her great uncle.

Stay tuned until the end, when we talk about Berkshire Hathaway and Lauren’s recent email exchange with Warren Buffett.

Links:

 Investing the Templeton Way: The Market-Beating Strategies of Value Investing's Legendary Bargain Hunter

Templeton & Phillips Capital Management

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Read ⁠⁠Money, Life, Family⁠⁠: My Handbook: My complete collection of principles on investing, finding work & life balance, and preserving family wealth.

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My guest is the best-selling author Gautam Baid, CFA. He is the Managing Partner and Fund Manager of Stellar Wealth Partners India Fund.

The fund is modeled after the Buffett Partnership fee structure and invests in listed Indian equities with a long-term, fundamental, and value-oriented approach.

Previously, Gautam served as Portfolio Manager at Summit Global Investments, an SEC-registered investment advisor based in Salt Lake City, USA. Before that, he served at the Mumbai, London, and Hong Kong offices of Citigroup and Deutsche Bank as Senior Analyst in their investment banking teams.

Gautam is the author of the international best-seller on value investing, The Joys of Compounding. He is a CFA charterholder and member of CFA Institute, USA; an MBA in Finance from Nirma University, India; and an MS in Finance from ICFAI University, India.

Gautam's views and opinions have been published on various forums in print, digital, and social media. In 2018 and 2019, he was profiled in Morningstar’s Learn from the Masters series.

https://www.thejoysofcompounding.com/

www.stellarwealthindia.com

We will talk about:

1)   Gautam’s journey from India to the US, and his passion for investing

2)    The importance of reading and writing in investing success.

3)    Why value investing principles are timeless

4)    The attitude towards material wealth

5)    The nature and benefits of deferred gratification

6)    Luck, chance, serendipity, randomness and their role in our lives and investing.

7)    The notion that you can borrow someone’s investment idea, but you can’t borrow their conviction.

8)   Thoughts on investing in India.

Gautam is an avid reader, and if you are still wanting more after the interview, and the book, as I was, I highly recommend browsing through his reading list that his shares on his website and Goodreads.

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Read ⁠Money, Life, Family⁠: My Handbook: My complete collection of principles on investing, finding work & life balance, and preserving family wealth.

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My guest today is Brian Moran, he is a Co-Author with Michael Lennington of the New York Times Bestseller, The 12 Week Year.  He is the President and Founder of The 12 Week Year, has 30 years of expertise as a corporate executive, entrepreneur, consultant and coach. His background as a corporate executive combined with his experience as an entrepreneur positions him with a unique skill set to help individuals and organizations grow and prosper.

Brian is a recognized expert in the field of leadership and execution. His realization that most people don't lack ideas but struggle with effective implementation led him to the development of The 12 Week YearTM.

In addition to his books, Brian has been published in many of the leading business journals and magazines. He is a sought after speaker, educating and inspiring thousands each year. Brian lives in Michigan with his wife Judy and their two daughters.

Please help me welcome, Brian Moran.

https://12weekyear.com/

We will talk about:

1) Where the idea for a 12 week year come from.

2) How effective execution can make all the difference

3) We don’t need new ideas to double or triple our income, applying what we already know can be enough

4) Short-term goals and long term vision.

5) Ownership of your choices, and true accountability

6) Results are the confirmation of greatness, you become great long before the results

7) The importance of breakout blocks, as in rest.

8) Last, but not least, we’ll hear about Brian’s own measure of success.

Here is one of my favorite quotes from the book: on the daily, weekly basis the difference between greatness and mediocrity is small, but the difference in results down the road is tremendous.

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Read Money, Life, Family: My Handbook: My complete collection of principles on investing, finding work & life balance, and preserving family wealth.

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Patricia Angus, JD, MIA, TEP, is Founder and CEO of Angus Advisory Group LLC, an Adjunct Professor, founding Managing Director of the Global Family Enterprise Program, and Faculty Director of Enterprising Families Executive Education at Columbia University’s Graduate School of Business. A recognized thought leader in the field, she has provided legal and strategic advice to global families and firms with multi-generational businesses, trusts, and philanthropy, for over three decades. She is a prolific author, with publications including the highly acclaimed The Beneficiary Primer: A Guide for Beneficiaries of Family Trusts and The Trustee Primer: A Guide for Personal Trustees.

Ms. Angus has served on the board of directors of global single family offices, and has advised many others.

Ms. Angus has been named one of the Top 50 Women in Wealth Management by Wealth Manager; a Rising Star by Private Asset Management; and Top 50 CEOs in Private Client, Power Women, and Top 100 North American Wealth Advisers by Citywealth. Ms. Angus received the Interdisciplinary Award from the Family Firm Institute.

She received a B.A. cum laude from Amherst College, a Masters in International Affairs with a concentration in International Law and Organizations from Columbia University School of International and Public Affairs, and a J.D. from George Washington University Law School.

We are talking about:

1) What are trusts, where did they come from, what purpose do they serve?

2) How trusts have changed over the years?

3) Two types of trusts: revocable and irrevocable

4) We’ll hear more about what it takes to be a good trustee and a good beneficiary?

5) Do trusts have to end?

6) How can we define a success of a trust?

Please help me welcome, Patricia Angus.

Resources: The Trustee Primer, The Beneficiary Primer

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Read Money, Life, Family: My Handbook: My complete collection of principles on investing, finding work & life balance, and preserving family wealth.

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Byron Tully | The Old Money Book - How To Live Better While Spending Less - Secrets of America's Upper Class 

My guest today is Byron Tully, author of The Old Money Book - How To Live Better While Spending Less - Secrets of America's Upper Class. He's also written The Old Money Guide To Marriage, Old Money Style, and Old Money - New Woman. The Old Money Book alone has over 700 4-star reviews on Amazon and over 700 4-star ratings on Goodreads. The second, expanded edition of the book was published in 2020. Byron's popular blog at theoldmoneybook.com has, for the past 10 years, discussed topics of personal development and old money culture with a global community of followers. Byron is a grandson of a newspaper publisher and son of an oil industry executive, he's been an occasional guest on radio and podcasts. 

We talked about: 

1) Byron’s childhood and upbringing, and the inspiration for his book, The Old Money Book. 

2) How pursuing Old Money values doesn’t require money, and may actually lead to accumulating money 

3) Looking rich, and being rich 

4) The experience of inheriting wealth or receiving any major windfall of money in life 

5) We’ll discuss Old Money values in more detail. 

6) We also explore the importance of appreciating the time and effort it took to acquire wealth 

7) Finally, Byron shares with us his personal definition of success. We left the best for last, so stay with us until the end of the episode. 

Byron is joining us from France today.

----

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Read Money, Life, Family: My Handbook: My complete collection of principles on investing, finding work & life balance, and preserving family wealth.

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Alex Soojung-Kim Pang | The importance of Rest & 4 Day Week

My guest today is Alex Soojung-Kim Pang, he is a program director at 4 Day Week Global, a nonprofit advocating for the 4-day workweek. His trilogy of books— SHORTER: Work Better, Smarter and Less— Here’s How (Public Affairs, 2020); REST: Why You Get More Done When You Work Less (Basic Books, 2016), and THE DISTRACTION ADDICTION (Little Brown, 2013)— shows how companies and individuals can better integrate rest, creativity, and focus into digital-age lives and work. Alex has been a consultant at Institute for the Future and Strategic Business Insights, and a visiting scholar at Microsoft Research Cambridge, Oxford University, Stanford University, and UC Berkeley. Alex received a Ph.D. in history and sociology of science from the University of Pennsylvania.

I read Alex’s book Rest a while ago, and then I came back to it during Covid. In a high-pressure, ever changing environment, I grew to appreciate yet again the importance of Rest. I see it as a life changing advantage in a life of an investor, or any professional. Alex’s book gave me tools, and guidance how to include rest in my life, and how to do it well. It also gave me a permission to see rest as an important part of my daily life.

Today, you’ll hear about:

1) The concept of Obliquity as in reaching your goals in an indirect way.

2) Learning to rest better

3) Seeing rest not as absence of work or opposite to work, but as an equal

4) The importance of rest in life of an investor, and what benefits it can offer

5) The impact of remote work on our rest and productivity.

Please help me welcome, Alex Soojung-Kim Pang

RECENT PUBLICATIONS

LINKS

Strategy+Rest: www.strategy.rest

LinkedIn: linkedin.com/in/askpang

Twitter and Instagram: @askpang

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Read Money, Life, Family: My Handbook: My complete collection of principles on investing, finding work & life balance, and preserving family wealth.

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Philip Ordway | Intelligent Investing 

My guest today is Philip Ordway, a fellow patient, disciplined investor. He shares his thoughts on being grounded when it comes to money, having a common sense, and benefits of productive mornings.

Philip Ordway is the Managing Principal and Portfolio Manager of Anabatic Fund, L.P. Previously, Philip was a partner at Chicago Fundamental Investment Partners (CFIP). Philip earned his B.S. in Education & Social Policy and Economics from Northwestern University in 2002 and his M.B.A. from the Kellogg School of Management at Northwestern University in 2007, where he now serves as an Adjunct Lecturer in the Finance Department. He is a co-host of a great podcast The Week in Intelligent Investing.

We talk about:

1) Discovering Warren Buffett, and his investment approach.

2) Being rational and intelligent with money.

3) Avoiding future regrets.

4) Changing your mind about an investment.

5) Treating clients the way you’d like to be treated.

Please help me welcome, Phil Ordway.

Links: Phil’s Substack, Phil’s Reading List.

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Read Money, Life, Family: My Handbook: My complete collection of principles on investing, finding work & life balance, and preserving family wealth.

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My guest today is Philippe Gijsels. He is the Chief Strategist at BNP Paribas Fortis and a co-author of the book ( with Koen De Leus) World Economy in 5 Trends: Investing in Times of Superinflation, Hyperinnovation, and Climate Transition.

Takeaways

Childhood experiences can shape one's relationship with money and career path.

The world is changing profoundly, and it's important to adapt to new trends and challenges.

Owning real assets is crucial in an inflationary world.

The three windows of knowledge, trends, and interaction provide a comprehensive view of the world.

Innovation is a key driver of productivity and can shape the future.

Despite the expectation that productivity gains would lead to shorter work hours, people are still working the same hours as their grandparents.

Being open to changing one's mind and adapting to new information is crucial in investing and in life.

The interviews with famous dead economists provide insights into their thoughts and perspectives on long-term and economic issues.

The alligator principle in trend following emphasizes the importance of cutting losses quickly to avoid further damage.

The world is interconnected, and our actions have consequences for the planet and future generations.

The transition to renewable energy is necessary to address climate change, but it requires innovation and investment in battery technology.

Interest rates play a significant role in the economy and financial markets, and their movements can impact various asset classes.

Understanding the impact of inflation and interest rates is crucial for stock market performance.

The US has a unique position in a globalized world, with the dollar as the world's reserve currency.

Changing demographics present both challenges and opportunities.

Human connection and storytelling remain essential in an increasingly technological world.

Podcast Program – Disclosure Statement

Blue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm’s employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice.

Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies.  Investments involve risk and unless otherwise stated, are not guaranteed. 

Information expressed does not take into account your specific situation or objectives, and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation.  Past performance is not indicative of future performance.

Mitko Karshovski | The Future of Work is Remote 

My guest today is Mitko Karshovski, he is the host of a very successful podcast, That Remote Life, where he interviews experts in remote work, and remote life, while sharing strategies and techniques for those interested in pursuing a location independent career. He was born in Bulgaria, grew up in Ohio, he has traveled the world, and lived in many countries, and he currently spends his time between the US, Bulgaria, Thailand, and Mexico among other places.

We talk about:

1) The experience of growing up in Eastern Europe, and the United States.

2) Mitko’s podcast – That Remote Life

3) Becoming a digital nomad

4) The success and the future of remote-first companies

5) Asynchronous and location independent work

That Remote Life

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Read Money, Life, Family: My Handbook: My complete collection of principles on investing, finding work & life balance, and preserving family wealth.

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Guy Spier | The Education of a Value Investor & More 

My guest today is Guy Spier. Guy Spier is a Zurich-based author and investor.  He completed his MBA at the Harvard Business School, and holds a First Class degree in PPE (Politics, Philosophy and Economics) from Oxford University where he studied at Brasenose College with the British Prime minister David Cameron.  After completing his MBA, Spier started the Aquamarine Fund which is an investment vehicle inspired by the original 1950's Buffett partnerships. In 2008 Spier made news by bidding $650,000 with his friend, Mohnish Pabrai, to have a charity lunch with Warren Buffett.  His book, “The Education of a Value Investor” has sold more than 50,000 copies. Mr. Spier served as the chair and founder of the Weizmann Science and Business Club, and as a member of the Harvard Business School Alumni Board. He currently serves on the advisory boards of Value Conferences, and of Zurich Minds. He is the founder of VALUEx Zurich, and has co-founded TEDxZürich and TEDxZüriberg. From 2007 to 2009, Mr. Spier served on the Advisory Board of the Dakshana Foundation.  In 2017 Spier joined the newly formed board of the Swiss Friends of Oxford University and is on the board of the UN Watch. He is a member of Entrepreneurs' Organization and of the Young Presidents Organization. Guy lives in Zurich with his wife, and their three children.  

Today, you’ll hear about:  1) Guy’s family history, and how it shaped him, and his investment philosophy.  2) The risk of losing it all.  3) Skiing and investing, it’s not the fastest skier that wins, and the one who doesn’t get injured.  4) The challenges & opportunities of managing your own family money, and other people’s money.  5) Investing is like planting vineyards: “not all vintages will be fantastic, but we will have wine to drink”  6) Creating the right physical, geographic and social environment to flourish as an investor.  7) The right and the wrong, and ethics in the investment business.  8) Success is not a number.  9) As a bonus, we talk about flying small planes, and what it taught both of us about investing.  

My favorite quote shared by Guy -- “It doesn’t matter how slowly you go, as long you do not stop” – Confucius.  

Other notes: Yale Professor mentioned in the episode: Nicholas Christakis, The book is called Connected, TED Talk 

Learn more about Talking Billions Learn more about Bogumil Baranowski  Read Money, Life, Family: My Handbook: My complete collection of principles on investing, finding work & life balance, and preserving family wealth.  

To get regular updates and bonus content, please sign-up for my substack: ⁠https://bogumilbaranowski.substack.com/⁠

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Sophocles Sophocleous | Investing Lessons from a Career Across Asset Classes & Markets 

My guest today is Sophocles Sophocleous

He was born in Canada and raised in Cyprus, he is a Fulbright scholar and CFA Charterholder with multi-year experience in developed and emerging markets in both equities and debt. Currently, he works as an investment advisor to an activist Swiss investor Veraison Capital. During his career, he has managed individual and institutional equity client portfolios and worked for a London-based emerging market high-yield debt fund. On an annual basis, he organizes a by-invitation Cyprus Value Investor Conference that he co-founded in 2016. Also, on a part-time basis, he teaches a CFA Level 1 course and a master's course that he designed.

We talked about:

1) His experience investing across stocks and bonds and developed and emerging markets.

2) Founding and running an international investor conference.

3) Looking for a dream investment.

4) Selling policy for stocks and bonds, similarities and differences.

5) Living through a banking crisis.

6) Cyprus Value Investor Conference

----

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Learn more about Talking Billions

Learn more about Bogumil Baranowski

Read Money, Life, Family: My Handbook: My complete collection of principles on investing, finding work & life balance, and preserving family wealth.

NEVER INVESTMENT ADVICE.