Introduction

Permanent Equity has published our 2022 Annual Letter. This conversation with Brent Beshore, Tim Hanson, & Mark Brooks dives deeper into some of the themes and topics explored in the letter: Lessons learned from 15 years of buying and operating small businesses.

Read the full letter here: https://www.permanentequity.com/letters 

Contents: 

0:00 Intro

1:25 Do We Feel Adequately Click-Baited?

2:40 Getting Older, Getting Better?

3:32 Biggest Challenges & Crying At Work

6:48 Summarizing 2022 In One Word

9:00 Wisdom Is Learning How Not to Do Something

11:09 How NOT to Buy A Company

14:10 How NOT to Be A Leader

15:50 What Are We Baking?

19:42 Sharing Our Returns

21:27 Investing in Crypto

22:54 Conservatism Vs Volatility

24:13 "Private Equity Makes Me Cringe"

26:11 Mid-Life Crisis?

28:04 Restructuring the Firm, New CIO

30:12 New CFO

32:12 New COO

33:16 Challenges in 2023

34:41 What Will You Write in the Annual Letter in 15 Years?

37:07 Send This to Someone

37:25 New Series Coming