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Ryan Bunn
US-based portfolio manager and founder of Reference Equity, specializing in global and international small-cap strategies with 15+ years of investment experience and a focus on fundamental, concentrated portfolios.
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Jan 13, 2026
• 52min
#79 Ryan Bunn on The Art of Speculation
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Ryan Bunn, a seasoned portfolio manager and founder of Reference Equity, dives into the timeless wisdom of Philip Carret's classic, 'The Art of Speculation'. He highlights Carret’s influential ideas on investing, emphasizing his principles of diversification and the importance of understanding market cycles. Bunn also reflects on the evolution of speculation and investing, sharing his top three commandments for modern investors. With insights that still resonate today, Bunn connects Carret's philosophy to the investment strategies of legends like Warren Buffett.
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