We Study Billionaires - The Investor’s Podcast Network
Business:Investing
Back by popular demand, Clay Finck brings back Chris Mayer to chat about his book, How Do You Know – A Guide to Clear Thinking About Wall Street, Investing, and Life. This book is one that really made us think as it is not your conventional investing book and questions much of traditional thinking in the world of finance. If you’re interested in becoming a better thinker as an investor, then this episode is a must-listen.
Chris is the author of 100 Baggers and How Do You Know?, and the co-founder and portfolio manager of Woodlock House Family Capital.
IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro.
02:13 - How being a learning machine has impacted Chris as an investor.
07:30 - Chris’ goal as a long-term investor in public equities.
09:59 - What general semantics is, and how it relates to investing.
10:42 - Finance terms that investors use that muddy the waters of how people think about stocks.
13:10 - How either/or thinking doesn’t align with how the real world typically operates.
14:31 - Why can we do without broad terms as investors such as: “GDP,” “the economy,” “value investors,” “growth investors,” etc.
20:17 - Why we shouldn’t always take labels and names at face value.
22:20 - What companies Chris owns are in what many would call “unattractive industries.”
24:21 - Chris’ opinion on what drives long-term shareholder returns.
27:24 - What Sosnoff’s Law is.
30:17 - How meeting management teams play into Chris’ investment process.
33:17 - Why Chris believes that “This Time is Always Different” and that reversion to the mean is a flawed concept.
42:58 - How Chris thinks about judging what numbers actually mean rather than judging the numbers themselves.
44:06 - Why we shouldn’t take accounting earnings at face value.
47:50 - Why Chris encourages investors to develop a “delayed reaction.”
50:29 - How Chris developed the ability to not take himself too seriously.
55:08 - Chris’ book recommendations.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
NEW TO THE SHOW?
P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!
SPONSORS
HELP US OUT!
Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
BTC123: The Legacy Banking System in Shambles w/ Alf Peccatiello (Bitcoin Podcast)
TIP539: The Banking Crisis Explained w/ Shawn O'Malley
TIP538: Richer, Wiser, Happier, Q1 2023 w/ William Green & Stig Brodersen
TIP537: The Surprising Opportunities in Commercial Real Estate w/ Ian Formigle
BTC122: The US Treasury May Need Private Stable Coins w/ Matthew Pines (Bitcoin Podcast)
TIP536: Buffett and Munger’s Principles and Mental Models
RWH023: Defensive Investing In Dangerous Times W/ Guy Spier
TIP535: Insights from the World's Top Money Managers w/ Kristof Gleich
BTC121: Bank Failures & Bitcoin w/ Steven McClurg (Bitcoin Podcast)
TIP534: The Joys of Compounding by Gautam Baid
TIP533: How the Fed went Broke w/ Lyn Alden
TIP532: Insights From A Reclusive Investment Firm w/ Graeme Forster
BTC120: Preston's Top 5 Bitcoin Fundamental Moments, w/ Michael Saylor, Jeff Booth, Gigi, Alex Gladstein, Cory Klippsten, & Pablo Fernandez (Bitcoin Podcast)
TIP531: Mark Leonard: The Best Capital Allocator You've Never Heard of
TIP530: The Top 5 Billionaire Books w/ Richard Wilson
BTC119: Merging the Energy Sector with Bitcoin Mining w/ Harry Sudock (Bitcoin Podcast)
TIP529: Joel Tillinghast & Uncovering the Art of Outperformance
TIP528: Mastermind Q1 2023 w/ Tobias Carlisle and Hari Ramachandra
TIP527: The Epic Collapse of GE w/ William Cohan
BTC118: Deep Dive Aftermath of SBF and the FTX Disaster w/ Mark Goodwin (Bitcoin Podcast)
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
Forward Guidance
Macro Voices
Money Girl
So Money with Farnoosh Torabi
The YNAB Podcast