We Study Billionaires - The Investor’s Podcast Network TIP299: Mastermind Discussion 2Q 2020 (Business Podcast)
May 30, 2020
Tobias Carlisle, a deep value investor and founder of the Acquirer's Fund, joins Hari Ramachandra, a seasoned Silicon Valley executive and tech author. Together, they analyze stock picks like Berkshire Hathaway and Spotify's undervalued status despite its financial losses. They delve into the investment strategies behind Markel's strong performance, contrasting it with eBay's challenges, and explore Bitcoin's evolving role in finance. Listeners gain insights into effective portfolio management habits and innovative tech tools for investment.
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Markel vs. Berkshire
- Consider Markel (MKL) as a miniature Berkshire Hathaway.
- Understand the key differences, like Markel's less concentrated portfolio.
Wholly Owned vs. Non-Operational Subsidiaries
- Wholly owned subsidiaries offer tax advantages over non-operational ones, avoiding double taxation on dividends.
- Acquiring large companies becomes challenging due to premiums demanded by target companies.
Tangible vs. Intangible Assets
- Capital-intensive companies with tangible assets may underperform in an environment of easy money.
- Intangible assets like brand power allow faster adaptation and potential outperformance.
