Millennial Investing - The Investor’s Podcast Network

MI327: Unpacking the Secrets of the World’s Greatest Investors w/ Clay Finck

Feb 13, 2024

01:09:28

Snipd AI

Clay Finck, host of We Study Billionaires, discusses his favorite investors, handling volatility, his favorite book, and the benefits of the TIP Mastermind community. He shares insights on his career transition and the importance of personal values. The podcast also explores influential guests, recommended investing books, surprising statistics about equities and treasuries, and the purpose of the TIP Mastermind Community.

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Episode notes

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Quick takeaways

Prioritizing high-quality businesses with proven track records is crucial in investing.

Concentrating on a smaller number of high-quality holdings can lead to better investment decisions and potentially higher returns.

Continuous learning and the exposure to quality content and experts in the finance world greatly enhance one's knowledge and skills as an investor.

Deep dives

Nick Sleep and the Importance of Quality

Nick Sleep's focus on quality and his belief in the importance of high-quality decision-making is a key takeaway. He emphasizes that quality is something that you can't fully explain, but you know it when you see it. This idea has influenced the way I approach investing, prioritizing high-quality businesses with proven track records. Sleep's philosophy of finding high-quality decisions in business and decision-making also resonates with me.

Introduction

2min

From Actuary to Investor

14min

Mixed Feedback and Appreciation

6min

Influential Guests and Recommended Books

18min

Equities vs Treasuries: Surprising Statistics

9min

The TIP Mastermind Community: Networking and Learning

22min

Long-Term Investing and Connecting with the Guest

2min

In this week’s episode, Patrick Donley sits down with Clay Finck, host of We Study Billionaires. They do a deep dive into what Clay has learned since becoming a host at TIP, what his biggest takeaways from his favorite interviews have been, who his favorite investors are, how he structures his own portfolio and handles volatility, why The Joys of Compounding is an important book to him, and much more!

Clay is a value investor who has been inspired by Chris Mayer, Nick Sleep, and Charlie Munger. He is the host of We Study Billionaires and also helps run TIP’s Mastermind community, an initiative he kickstarted in 2023.

IN THIS EPISODE, YOU’LL LEARN

00:00 - Intro.

02:00 - How Clay first got turned on to the world of value investing.

05:12 - What his first career steps were.

08:27 - What his thoughts are on index investing vs. active investing.

10:49 - How his transition from actuarial science to host of TIP went.

13:56 - What he’s learned since starting as a host as TIP and how his life has changed.

21:38 - How he has used Twitter to share his ideas.

27:11 - What he learned from Morgan Housel’s new book.

30:05 - Who he’d love to sit next to on a flight from Nebraska to New York to learn from.

47:05 - What his goal is as an investor.

50:19 - How the TIP Mastermind community has been going and what its benefits are.

58:33 - Why The Joys of Compounding is an important book for Clay.

64:52 - What’s in Clay’s portfolio and what some of his favorite holdings are.

69:48 - How he deals with volatility in his portfolio and what his typical holding period is.

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members.
Recommended book: Rich Dad Poor Dad by Robert Kiyosaki.
Recommended book: The Compound Effect by Darren Hardy.
Recommended book: Atomic Habits by James Clear.
Recommended book: The Snowball by Alice Schroeder.
Recommended book: The Simple Path to Wealth by JL Collins.
Recommended book: Where the Money Is by Adam Seessel.
Recommended book: Same as Ever by Morgan Housel.
Recommended book: How Do You Know? by Chris Mayer.
Recommended book: Dhando Investor by Mohnish Pabrai.
Recommended book: Richer, Wiser, Happier by William Green.
Recommended book: One Up On Wall Street by Peter Lynch.
Recommended book: Zen and the Art of Motorcycle Maintenance by Robert Pirsig.
Recommended book: The Joys of Compounding by Gautam Baid.
Check out TIP587: Dino Polska: A Polish Compounder | YouTube video.
Check out TIP604: Best Quality Idea Q1 2024—Evolution AB | YouTube video.
Check out the books mentioned in the podcast here.

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SPONSORS

Support our free podcast by supporting our sponsors:

Connect with Patrick: Twitter

Connect with Clay: Website | Twitter

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