Hosted by Stig Brodersen, William Green, Shawn O'Malley, Daniel Mahncke, and Kyle Grieve, The Investor’s Podcast has proudly reached nearly 200 million downloads, as the world's largest stock-investing focused podcast.
On the show, we study a range of businesses and their investment prospects, from Spotify to Amazon, serial acquirers like Constellation Software, deep value plays, and more, using lessons from some of the world's most famous investors, like Warren Buffett, Charlie Munger, and Howard Marks.
Leverage the lessons we learned from studying, and talking to, the world's best investors, and apply them in your own investing journey, while following along with our company case studies. For more insights on how to value companies and build a stock portfolio, you can also sign up for our free weekly newsletter.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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In today’s episode, Kyle Grieve and Shawn O’Malley revisit Reddit, a stock Shawn first pitched about a year and a half ago that has now given back nearly all of its gains after a one-day drop of roughly 25%. They’ll explain how Reddit makes money, why logged-in American users are worth far more than drive-by visitors from Google, and how Google’s AI answers turned Reddit’s biggest source of traffic into its biggest risk. Along the way, they look at Reddit’s network effects, its returns on capital, stock-based compensation and buybacks, Steve Huffman’s record as CEO, the move to a logged-in-only experience, and what the business is worth today.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:03:09) Why Reddit fell 25% in a day despite 50% revenue growth
(00:11:29) How Reddit’s contextual ads differ from Meta’s targeted ads
(00:14:10) Why logged-in users are worth three times logged-out users
(00:26:57) How Google’s AI answers are cutting off Reddit’s traffic
(00:35:54) Why volunteer-run communities make Reddit so hard to copy
(00:37:02) How Reddit earns over 100% returns with almost no capital
(00:39:06) Why stock comp is Reddit’s largest bill
(00:51:10) What Huffman delivered as CEO, and the governance trade-offs
(00:57:00) Why going logged-in-only may be Reddit’s most important bet
(01:06:07) Valuation discussion
(01:06:57) What Reddit is worth today, and whether we’re adding
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
If you are interested in a Community for investors to learn, share ideas, network, and join calls with experts: Apply for The Intrinsic Value Mastermind.
If you are interested in more personal meet-ups, meeting superinvestors, and discussing investing and things that go beyond: Apply for The Mastermind: Inner Circle.
Track The Intrinsic Value Portfolio.
Portfolio Review Submit Tool.
Listen to Shawn’s first Reddit pitch.
Check out Reddit’s Investor Relations.
Check out our previous Intrinsic Value breakdowns: Meta, Snapchat, Trade Desk, Doximity, AppLovin.
Follow Kyle on X and LinkedIn.
Follow Shawn on X and LinkedIn.
Related books mentioned in the podcast.
Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
Get smarter about valuing businesses through The Intrinsic Value Newsletter.
Check out The Investor’s Podcast Starter Packs.
Follow our official social media accounts: X | LinkedIn | Facebook.
Try our tool for picking stock winners and managing our portfolios: TIP Finance.
Enjoy exclusive perks from our favorite Apps and Services.
Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS
Support our free podcast by supporting our sponsors:
Monarch
Plus500
Bilt
Glean
Granola
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
TIP860: Canadian Pacific Kansas City Limited (CP.TO): Irreplaceable Moat, Unproven Compounding w/ Kyle Grieve & Shawn O'Malley
Episode 1128
Thursday, November 12, 2026 • Duration 01:18:45
In today’s episode, Kyle Grieve and Shawn O’Malley discuss Canadian Pacific Kansas City, the only railroad that connects Canada, the United States, and Mexico on a single network. They trace how the company helped shape Canada, how an activist investor and a legendary railroader turned it into one of North America’s best-run railroads, and why a transformational merger has made its recent results much harder to judge. Along the way, they look at the barriers to replicating a railroad, management’s compensation program, the risks facing the business, and the company’s current intrinsic value.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:02:18) How a railroad helped decide the shape of Canada
(00:04:05) Why railroads are among the hardest businesses to disrupt
(00:12:49) How Bill Ackman and Hunter Harrison transformed Canadian Pacific
(00:13:52) The scheduling idea that optimized railroad margins
(00:30:06) What makes CPKC’s three-country network nearly impossible to replicate
(00:44:19) Why an irreplaceable moat doesn’t guarantee great shareholder returns
(00:55:43) The hidden accounting reason the merger still weighs on returns
(01:10:15) How a rival mega-merger could threaten CPKC’s growth story
(01:17:57) Valuation discussion
(01:20:04) What CPKC is worth today, and what would change our minds
(01:20:49) Whether CPKC will be added to their position in the Intrinsic Value Portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
If you are interested in a Community for investors to learn, share ideas, network, and join calls with experts: Apply for The Intrinsic Value Mastermind.
If you are interested in more personal meet-ups, meeting superinvestors, and discussing investing and things that go beyond: Apply for The Mastermind: Inner Circle.
Track The Intrinsic Value Portfolio.
Portfolio Review Submit Tool.
Canadian Pacific Kansas City’s Investor Day.
Canadian Pacific Kansas City’s Investor Relations.
Check out our previous Intrinsic Value breakdowns: Berkshire Hathaway, Auto1, Copart, Ferrari.
Follow Kyle on X and LinkedIn.
Follow Shawn on X and LinkedIn.
Related books mentioned in the podcast.
Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
Get smarter about valuing businesses through The Intrinsic Value Newsletter.
Check out The Investor’s Podcast Starter Packs.
Follow our official social media accounts: X | LinkedIn | Facebook.
Try our tool for picking stock winners and managing our portfolios: TIP Finance.
Enjoy exclusive perks from our favorite Apps and Services.
Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS
Support our free podcast by supporting our sponsors:
Monarch
Plus500
Bilt
Glean
Granola
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
TIP859: Mercado Libre ($MELI): We Doubled Down on Meli w/ Daniel Mahncke & Shawn O'Malley
Episode 1127
Sunday, November 8, 2026 • Duration 01:04:09
Daniel Mahncke and Shawn O’Malley return to Mercado Libre (NASDAQ: MELI), a holding in The Intrinsic Value Portfolio. The “Amazon of Latin America” just reported its 31st consecutive quarter of revenue growth above 30%, a streak no company of its size has ever matched, with revenue up 45% to $10.75 billion. In the same quarter, its operating margin fell to 6.3%, the lowest in years, and the stock trades below where it was originally pitched.
Daniel and Shawn cover the evolution of Mercado Pago, which processed $109 billion in payments last quarter, more than four times what the marketplace sold, and runs a $17.9 billion credit book growing 62% a year that has made it the sixth-largest card issuer in Brazil. They explain why booking losses on new credit cards upfront is the biggest reason margins fell, and why Pago is so important for the ecosystem. They then take a close look at Shopee, the biggest competitor for Meli in Brazil. They also cover Amazon, and the question that decides the whole thesis: will Brazil end up looking like the U.S., with one or two dominant platforms, or like China, where four players compete margins down to 2%? In the end, they walk through the updated valuation model and explain why they added to the position.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:02:04) What changed since our last pitch
(00:05:57) How Mercado Pago keeps taking share
(00:07:25) Why Pago strengthens the flywheel
(00:21:48) Whether competition forces Meli’s hands
(00:44:29) How margins impact the Meli thesis
(00:51:08) What MELI’s stock is worth
(00:57:13) Whether MELI will stay part of The Intrinsic Value Portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
Apply for The Intrinsic Value Mastermind Community where investors learn, share ideas, network, and join calls with experts.
Apply for The Mastermind Inner Circle to connect with the most successful investors, executives, and business leaders from our audience. As an Inner Circle Member, you also have the opportunity to join us at a private dinner with Markel CEO Tom Gayner in March!
Track The Intrinsic Value Portfolio.
Portfolio Review Submit Tool.
Our Original Mercado Libre Episode.
Check out the Sea Limited Episode.
Check out the Grab Episode.
Mercado Libre Investor Relations.
Dive into our previous Intrinsic Value breakdowns Uber, Nike, Reddit, Nintendo, Airbnb, AutoZone, Alphabet, Ulta, John Deere, Madison Square Garden Sports.
Follow Daniel on X and LinkedIn.
Follow Shawn on X and LinkedIn.
Related books mentioned in the podcast.
Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
Get smarter about valuing businesses through The Intrinsic Value Newsletter.
Check out The Investor’s Podcast Starter Packs.
Follow our official social media accounts: X | LinkedIn | Facebook.
Try our tool for picking stock winners and managing our portfolios: TIP Finance.
Enjoy exclusive perks from our favorite Apps and Services.
Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS
Support our free podcast by supporting our sponsors:
Monarch
Plus500
Bilt
Granola
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
TIP858: McDonald's ($MCD): Generational Compounder in Historical Drawdown w/ Daniel Mahncke & Shawn O'Malley
Episode 1126
Thursday, November 5, 2026 • Duration 01:22:30
Daniel Mahncke and Shawn O’Malley cover their first restaurant stock. Although one could argue it isn’t really a restaurant business at all. McDonald’s (NYSE: MCD) is the landlord behind $139 billion of yearly sales across roughly 46,000 restaurants. About 95% of those restaurants are run by franchisees, who paid McDonald’s around $10.4 billion in rent and $6 billion in royalties last year. That means about 91% of McDonald’s restaurant-level profit comes from collecting rent and royalties, not from selling burgers.
Daniel and Shawn explain how Ray Kroc took over McDonald’s and came up with the real estate plans with his business partner Sonneborn. They also cover how Bill Ackman’s 2005 refranchising plan was rejected by management, then carried out a decade later by Steve Easterbrook, the CEO who was later fired and handed back $105 million. They look at why franchisees are currently pushing back, and what the roughly $8.5 billion of rent relief and remodel support announced at the September investor day means for shareholders. They also ask whether GLP-1 drugs can be a terminal risk for McDonald’s. In the end, they walk through the valuation model and decide whether the world’s most famous landlord is worth its price, and whether McDonald’s earns a spot in The Intrinsic Value Portfolio.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:02:06) About McDonald’s journey to a global franchise
(00:11:01) Why and how McDonald’s turned into a real estate company
(00:20:37) How McDonald’s actually makes money
(00:23:56) How the franchising business works
(00:28:48) Why McDonald’s wants to sell more restaurants
(00:46:36) How GLP-1 drugs change the business
(01:19:16) Valuation discussion
(01:21:59) What MCD’s stock is worth
(01:24:56) Whether MCD will be added to The Intrinsic Value Portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
Apply for The Intrinsic Value Mastermind Community where investors learn, share ideas, network, and join calls with experts.
Apply for The Mastermind Inner Circle to connect with the most successful investors, executives, and business leaders from our audience.
Track The Intrinsic Value Portfolio.
Portfolio Review Submit Tool.
McDonald’s Investor Day.
McDonald’s Investor Relations.
Jeff Nippard – Peptides.
Check out our previous Intrinsic Value breakdowns: Domino’s Pizza, CoStar Group, Walmart, NVR.
Follow Kyle on X and LinkedIn.
Follow Shawn on X and LinkedIn.
Related books mentioned in the podcast.
Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
Get smarter about valuing businesses through The Intrinsic Value Newsletter.
Check out The Investor’s Podcast Starter Packs.
Follow our official social media accounts: X | LinkedIn | Facebook.
Try our tool for picking stock winners and managing our portfolios: TIP Finance.
Enjoy exclusive perks from our favorite Apps and Services.
Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS
Support our free podcast by supporting our sponsors:
Monarch
Plus500
Bilt
Granola
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
In today’s episode, Stig Brodersen is joined by Tobias Carlisle and Hari Ramachandra for a new round of stock pitches. Hari makes the case for Novo, until recently the most valuable company in Europe, now priced as if its obesity franchise is a melting ice cube. Stig pitches S&P Global, the company behind the S&P 500 and one of the world’s great ratings businesses, and explains why it became his first new position in more than a year. Tobias breaks down Deckers Brands, the owner of HOKA and UGG, trading at 11 times earnings and buying back stock aggressively.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:02:24) Why Hari is bullish on Novo Nordisk (Ticker: NVO), trading at 12 times forward earnings with a 4.5% dividend and an oral obesity pill gaining traction.
(00:15:24) The bear case for Novo Nordisk, including Eli Lilly’s lead in efficacy and market share, Medicare price negotiations, and patent expiries in key markets.
(00:28:19) Why Stig is bullish on S&P Global (Ticker: SPGI), highlighting the ratings oligopoly, the economics of the S&P 500 index, and why he bought a starter position below $400.
(00:46:35) The bear case for S&P Global, including AI disruption of Market Intelligence, competition from startups like AlphaSense and Rogo, and whether 23 times earnings is cheap enough.
(00:58:41) Why Tobias is bullish on Deckers (Ticker: DECK), emphasizing $1.6 billion in net cash, buybacks of 80% of free cash flow, and thoughtful capital allocation.
(01:19:51) The bear case for Deckers Brands, including slowing HOKA growth, the fashion risk in UGG, a squeezed consumer, and the low base rate for brands re-accelerating growth.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
If you are interested in a Community for investors to learn, share ideas, network, and join calls with experts: Apply for The Intrinsic Value Mastermind.
If you are interested in more personal meet-ups, meeting superinvestors, and discussing investing and things that go beyond: Apply for The Mastermind: Inner Circle.
Stig Brodersen’s Portfolio and Track Record.
Check out the Mastermind Discussion Q3, 2026 | Video.
Check out the Mastermind Discussion Q2, 2026 | Video.
Check out the Mastermind Discussion Q1, 2026 | Video.
Check out the Mastermind Discussion Q4, 2025 | Video.
Check out the Mastermind Discussion Q3, 2025 | Video.
Check out the Mastermind Discussion Q2, 2025 | Video.
Tobias Carlisle’s podcast, The Acquirers Podcast.
Tobias’ ETF, ZIG.
Tobias’ ETF, Deep.
Hari’s Blog.
Tweet to Hari.
Related books mentioned in the podcast.
Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
Get smarter about valuing businesses through The Intrinsic Value Newsletter.
Check out The Investor’s Podcast Starter Packs.
Follow our official social media accounts: X | LinkedIn | Facebook.
Try our tool for picking stock winners and managing our portfolios: TIP Finance.
Enjoy exclusive perks from our favorite Apps and Services.
Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS
Support our free podcast by supporting our sponsors:
Monarch
Plus500
Netsuite
Bilt
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
TIP856: Airbnb (ABNB): The Business Outgrew Its Peak, The Stock Hasn't w/ Kyle Grieve & Shawn O'Malley
Episode 1124
Thursday, October 29, 2026 • Duration 01:26:05
In today’s episode, Kyle Grieve and Shawn O’Malley discuss whether Airbnb’s recent slowdown was a warning sign or just building the groundwork for its next growth phase. They explore how a company that owns no homes built one of travel’s strongest brands, and why AI agents could threaten or strengthen it. You’ll also learn how Brian Chesky’s founder-led approach and new growth levers are shaping the business’s future.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:11:30) Why Airbnb barely noticed when it shut off advertising
(00:17:08) What really caused Airbnb’s growth and cash flow slowdown
(00:31:20) How Airbnb is winning market share from competitors
(00:33:32) Why AI chatbots could become travel’s new gatekeepers
(00:35:21) The asset no competitor can buy, no matter their budget
(00:42:08) The hidden trade-off behind Airbnb’s Reserve Now, Pay Later
(00:56:54) Why Brian Chesky’s “founder mode” reshaped how Airbnb operates
(01:16:17) The fast-growing countries that could fuel Airbnb for decades
(01:19:55) How hotels became Airbnb’s backdoor customer acquisition channel
(01:24:29) Valuation discussion
(01:26:55) Intrinsic value of Airbnb
(01:29:10) Whether Kyle & Shawn will add to their Airbnb position in the Intrinsic Value Portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
If you are interested in a Community for investors to learn, share ideas, network, and join calls with experts: Apply for The Intrinsic Value Mastermind.
If you are interested in more personal meet-ups, meeting superinvestors, and discussing investing and things that go beyond: Apply for The Mastermind: Inner Circle.
Track The Intrinsic Value Portfolio.
Portfolio Review Submit Tool.
Our original pitch on Airbnb.
Check out our previous Intrinsic Value breakdowns: Restoration Hardware, FICO, Copart.
Follow Kyle on X and LinkedIn.
Follow Shawn on X and LinkedIn.
Related books mentioned in the podcast.
Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
Get smarter about valuing businesses through The Intrinsic Value Newsletter.
Check out The Investor’s Podcast Starter Packs.
Follow our official social media accounts: X | LinkedIn | Facebook.
Try our tool for picking stock winners and managing our portfolios: TIP Finance.
Enjoy exclusive perks from our favorite Apps and Services.
Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS
Support our free podcast by supporting our sponsors:
Monarch
Plus500
Netsuite
Bilt
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
TIP855: Shopify (SHOP): The Big Winner of Agentic Commerce? w/ Shawn O'Malley & Daniel Mahncke
Episode 1123
Sunday, October 25, 2026 • Duration 01:18:47
Shawn O’Malley and Daniel Mahncke revisit Shopify (NASDAQ: SHOP) fifteen months after Shawn pitched it, called it one of the best businesses they’d ever studied, and recommended passing on the stock at around $80 per share. Since then, the stock has nearly doubled, gross merchandise volume has grown more than 30% for five straight quarters, 2025 revenue rose 30% to over $11.5 billion, and Shopify paid off its convertible notes and launched its first-ever buyback program, now totaling $5 billion.
Shawn and Daniel grade their original analysis: what they got right about the business, what they got wrong about the numbers, and whether the decision-making process itself was flawed. They dig into how Shopify became central to agentic commerce through its Catalog of over a billion products, the Universal Commerce Protocol it co-developed with Google, and agentic storefronts inside ChatGPT, Gemini, and Copilot. They also cover Amazon blocking Meta’s Muse agent while Shopify partnered with it, the bear case that merchants will vibe-code their own stores, Sidekick’s rapid adoption, and whether a great business is worth owning at 112 times operating profits.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:08:42) What Shawn and Daniel got right and wrong when they passed on Shopify in 2025
(00:09:02) How to grade an investment decision without falling for hindsight bias
(00:16:07) How Shopify sustained more than 30% GMV growth for five straight quarters
(00:17:12) Why Shopify merchants captured nearly half of all new U.S. e-commerce dollars
(00:23:28) Valuation discussion of Shopify
(00:32:30) What agentic commerce is and how Shopify’s Catalog and Universal Commerce Protocol power it
(00:49:22) Why AI shopping may favor independent brands over Amazon and Etsy
(01:03:14) Why merchants are unlikely to vibe-code their way off Shopify
(01:08:53) What Ben Graham’s P/E matrix says Shopify is worth today
(01:11:56) Whether Shawn and Daniel will add Shopify to the Intrinsic Value Portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
Apply for The Intrinsic Value Mastermind Community where investors learn, share ideas, network, and join calls with experts.
Apply for The Mastermind Inner Circle to connect with the most successful investors, executives, and business leaders from our audience.
Track The Intrinsic Value Portfolio.
Portfolio Review Submit Tool.
Our original podcast deep-dive on Shopify.
Shopify’s Q2 2026 results.
Shopify’s Spring ’26 Edition: Selling everything, everywhere, all at once.
Tobi Lütke on Uncapped with Jack Altman (#50).
Ben Thompson’s Stratechery interview with Michael Morton on e-commerce in the age of AI.
Shopify’s Tinker announcement and “Commerce at the speed of culture” data study.
Shopify at the Goldman Sachs Communacopia + Technology Conference (September 2026).
The Graham-Dodd P/E Matrix.
Our updated Shopify valuation model.
Check out our previous Intrinsic Value breakdowns Shopify, Uber, Nike, Reddit, Nintendo, Airbnb, AutoZone, Alphabet, Ulta, John Deere, Madison Square Garden Sports.
Related books mentioned in the podcast.
Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
Get smarter about valuing businesses through The Intrinsic Value Newsletter.
Check out The Investor’s Podcast Starter Packs.
Follow our official social media accounts: X | LinkedIn | Facebook.
Try our tool for picking stock winners and managing our portfolios: TIP Finance.
Enjoy exclusive perks from our favorite Apps and Services.
Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS
Support our free podcast by supporting our sponsors:
Monarch
Plus500
Netsuite
Bilt
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
TIP854: GE Aerospace: Chris Hohn’s Biggest Bet w/ Daniel Mahncke & Shawn O'Malley
Episode 1122
Thursday, October 22, 2026 • Duration 01:12:17
Daniel Mahncke and Shawn O’Malley follow up last year’s TransDigm pitch with the biggest monopoly in aviation: GE Aerospace (NYSE: GE), the engine maker behind nearly three out of every four commercial flights in the world. With roughly 50,000 commercial and 30,000 military engines in service, GE has the largest installed engine base worldwide. That’s the reason Chris Hohn bets about 30% of his $50+ billion portfolio on it.
Daniel and Shawn dig into the mechanism behind how GE sells its engines at roughly zero margin because every engine comes back as three and a half times its sale price in spare parts and shop visits over 25 to 30 years. They also cover the Cold War deal that put a GE engine core in a locked room in France, how Larry Culp turned a company Nelson Peltz was sure would file for Chapter 11 into three companies worth more than $600 billion, and whether Heico’s copycat parts and the regulators now circling the engine aftermarket can dent the pricing. In the end, they walk through the valuation model and decide whether the best business in aviation is worth its price — and whether GE earns a spot in The Intrinsic Value Portfolio.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:03:44) About the history of aviation and GE
(00:14:15) Why engines became a political product
(00:25:58) What makes GE such a great compounder
(00:26:58) Why the aftermarket is so attractive
(00:28:16) Why GE is the pinnacle of aerospace
(00:57:09) How CEOs destroyed and turned around the business
(01:06:22) What GE’s stock is worth
(01:14:51) Whether GE will be added to The Intrinsic Value Portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
Apply for The Intrinsic Value Mastermind Community where investors learn, share ideas, network, and join calls with experts.
Apply for The Mastermind Inner Circle to connect with the most successful investors, executives, and business leaders from our audience.
Track The Intrinsic Value Portfolio.
Portfolio Review Submit Tool.
Rijinkberg investing GE Aerospace Deep Dive.
Culp Capital Group Interview.
Investing Breakdown’s Episode on GE Aerospace.
Check out our previous Intrinsic Value breakdowns: TransDigm, Heico Vs. TransDigm, Copa Holdings.
Related books mentioned in the podcast.
Ad-free episodes on our Premium Feed.
NEW TO THE SHOW?
Get smarter about valuing businesses through The Intrinsic Value Newsletter.
Check out The Investor’s Podcast Starter Packs.
Follow our official social media accounts: X | LinkedIn | Facebook.
Try our tool for picking stock winners and managing our portfolios: TIP Finance.
Enjoy exclusive perks from our favorite Apps and Services.
Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS
Support our free podcast by supporting our sponsors:
Monarch
Plus500
Netsuite
Bilt
References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor’s Podcast Network is not responsible for any claims made by them.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
RWH074: True Wealth w/ Matt Ludmer
Episode 1121
Sunday, October 18, 2026 • Duration 02:33:16
In this episode, William Green speaks with Matt Ludmer, the founder & CEO of Aligned Wealth Management. Matt is a financial adviser to wealthy individuals & families, including clients who have entrusted him with tens or even hundreds of millions of dollars. After decades working on Wall Street, he came to realize he’d misunderstood the meaning of wealth. That revelation led him to write a new book, “The Right Mountain: Practical Wisdom for Achieving True Wealth.” Here, he explores how to build a fulfilling life that includes—& transcends—financial success.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:06:33) How Matt started out shining shoes & selling frozen food.
(00:18:56) Why Matt Ludmer reveres his father as his greatest teacher.
(00:23:50) How he scored an investment adviser job at Morgan Stanley.
(00:32:54) What happens when our hunger for success goes too far.
(00:54:46) How to diagnose where your life is out of balance.
(01:01:48) How loneliness led Matt to create a “heartfelt community.”
(01:36:44) Why many top investors view meditation as a smart investment.
(01:40:35) How to build rich relationships by meeting people where they are.
(01:55:06) How his confidence in stocks is built on a century of data.
(02:09:22) Why it’s psychologically shrewd to divide your assets into three pots.
(02:15:09) Why Matt prefers low-cost ETFs to actively managed funds.
(02:17:13) How to find a career—& design a life—that lights you up.
(02:30:48) Why the ultimate prize is unconditional contentment.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
Inquire about William Green’s Richer, Wiser, Happier Masterclass.
Matt Ludmer’s book, “The Right Mountain.”
Napoleon Hill’s book, “Think and Grow Rich!”
Krishnamurti’s book, “Commentaries on Living.”
Lee Eisenberg’s book, “The Number.”
Daniel Goleman & Tsoknyi Rinpoche’s book, “Why We Meditate.”
Tara Bennett-Goleman’s book, “Emotional Alchemy.”
William Green’s podcast with Tsoknyi Rinpoche & Daniel Goleman.
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TIP853: Aritzia (ATZ.TO): The Women's Apparel Brand Conquering the US, plus Nike, Lulu, and More w/ Kyle Grieve & Shawn O'Malley
Episode 1120
Thursday, October 15, 2026 • Duration 01:23:28
In today's episode, Kyle Grieve and Shawn O’Malley discuss Aritzia, the everyday luxury fashion brand that has become one of retail's most impressive compounders. They explore how a small boutique in the corner of a department store grew into a brand with exceptional store-based economics, a spotless balance sheet, and a huge untapped opportunity across America. With the stock falling even as the business posts some of its best growth ever, they debate whether this is a rare chance to own a durable compounder or a hot brand nearing its peak.
IN THIS EPISODE YOU’LL LEARN:
(00:00:00) Intro
(00:03:04) What Lululemon's struggles reveal about investing in retail brands
(00:10:59) Why Aritzia's stores outsell most of their mall neighbours
(00:15:37) How Aritzia turned a tariff headache into rising margins
(00:25:32) Why some fashion brands fade while others keep compounding
(00:27:57) The one competitive advantage behind Aritzia's decades of growth
(00:53:48) Why management turned down cheap money when everyone else borrowed
(01:03:33) The biggest risk that could end Aritzia's run
(01:20:05) Valuation discussion on Aritzia
(01:24:16) Intrinsic value of Aritzia
(01:25:12) Whether Kyle & Shawn will add Aritzia to the Intrinsic Value Portfolio
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
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