Investing by the Books cover image

Investing by the Books

#48 Cole Smead on Money Masters

Aug 21, 2023
Portfolio manager Cole Smead discusses the classic title 'Money Masters' by John Train. Topics include the existence of a money mind, the correlation between being born poor and investing success, and the insight that businesses are always dying. They also touch on lessons from T. Rowe Price, identifying with investments, and applying marketing principles in investing.
01:22:01

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Good investors tend to be born poor.
  • Businesses are always dying.

Deep dives

Growing Interest in Investing

Cole Smead discusses his journey into the investment industry, noting that he was attracted to owning the best businesses. He highlights his experience as a financial advisor and his affinity for the investment business. He also mentions how his role shifted from raising capital for the business to solely focusing on investment strategies and becoming the CEO of SMEAD Capital Management.

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