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Kyle Grieve breaks down Michael Mauboussin’s key insights on combating noise, valuing intangible-rich businesses, using the rule of 40, leveraging checklists and algorithms, understanding base rates, and more.

IN THIS EPISODE YOU’LL LEARN:

00:00:00 - Intro

00:03:00 - How to use the BIN acronym to help you deal with forecasting error

00:14:32 - Four myths in investing (many of which I’ve fallen for)

00:26:15 - Why you must take GAAP numbers on a case-by-case basis due to handicaps of the standard

00:25:07 - How the rise in passive investing is making active investing more challenging

00:33:19 - Why GAAP losers outperform GAAP winners

00:37:14 - Why you should understand the differences between pricing and valuing a business

00:48:39 - Why using assorted multiples will help identify true undervaluations

00:45:50 - How to utilize the rule of 40 in your investing regardless of whether you invest in tech or not

00:49:16 - What to know about the base rates of a public business’s survival

00:58:00 - Why most investments will fail and how to deal with the ones that succeed

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.
• Read The Consilient Observer here.
• Learn about the BIN framework here.
• Dive into the four myths here.
• Explore valuation multiples more here
• Understand total shareholder returns more here.
• Improve your views on business survival here.
• Follow Kyle on Twitter and LinkedIn.
• Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast.
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