TIP694: The Scuttlebutt Edge: From Research to Returns w/ Kyle Grieve
We Study Billionaires - The Investor’s Podcast Network
Intro
This chapter delves into the scuttlebutt method, highlighting its importance in evaluating businesses for investment, as practiced by renowned investors like Warren Buffett. It emphasizes the need to consult key parties for deeper insights and provides case studies demonstrating the method's effectiveness in improving investment returns.
In today's episode, Kyle Grieve will discuss the concept of scuttlebutt, made famous by Philip Fisher in Common Stocks and Uncommon Profits. You’ll learn why scuttlebutt is essential for building conviction and understanding both bullish and bearish perspectives, how it involves learning from key groups connected to a business, how asking the right questions can reveal valuable insights, why Industry specialists and strong networking are crucial for gathering expert knowledge, and how to utilize self-reflection, journaling to continuously improve your decision-making, and much more!
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
02:55 - Why scuttlebutt is so essential in building conviction and learning about a business.
03:32 - Why scuttlebutt can help you understand bullish and bearish perceptions on a business.
10:03 - The four parties related to a business that you should learn from.
26:34 - What you can learn and what questions to ask a business’s employees, from the people working at the “frontline” to the CEO.
36:49 - How Warren Buffett sleuthed GEICO, which was one of the most impactful events in his life.
49:50 - How to learn from industry specialists and what to ask to learn about specific companies or industries.
54:51 - Details on how Li Lu did scuttlebutt on a very successful investment in Timberland.
55:01 - Why networking is so crucial to the scuttlebutt process.
58:11 - How to use self-reflection and journaling to understand better your mistakes and how to avoid them in the future.
01:07:01 - My four-step framework for learning from my investing mistakes.
And so much more!
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
- Buy Damn Right! Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger here.
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