
A Book with Legs
Welcome to A Book with Legs podcast, hosted by Smead Capital Management. In each episode, the folks at Smead Capital Management explore value investing through an entirely unique lens, bringing in authors to discuss books that have directly or indirectly influenced the decisions the Smead team has made on their investments in stocks and equities. The podcast is for the curious-minded looking for worldly wisdom. Investing is the last great liberal art, and the team at Smead wants to learn as much as they can. Any level of investor, business person, or thinker, whether personally or professionally, will be intrigued and engaged by these discussions.
Latest episodes

Jul 1, 2024 • 1h 12min
The Smead Book List - Summer 2024
Arizona Chamber of Commerce & Industry CEO Danny Seiden talks about the firm's book list, markets, and the Arizona business environment. They discuss book recommendations, investing, industrial policy, Arizona's water supply, and analyzing American companies' valuations and market risks.

Jun 17, 2024 • 1h 13min
Martin Goodman - Herod the Great: Jewish King in a Roman World
In this episode, distinguished historian Martin Goodman joins Bill and Cole Smead to discuss his latest work, "Herod the Great," in which he documents the Jewish king's ability to generate wealth through various means amid the Roman revolution. Goodman highlights Herod's use of taxation, trade deals and construction projects to boost Judea's economy and secure his political power while strengthening his ties with Rome.

Jun 3, 2024 • 1h 22min
David Bellos - Who Owns This Sentence
In this episode, writer David Bellos discusses his latest work, "Who Owns This Sentence", which provides a detailed history of copyright law by questioning who owns the meaning of a sentence when it crosses linguistic boundaries. Bellos shares anecdotes about the importance of precise language, while highlighting how accurate translation impacts business dealings globally.

May 20, 2024 • 1h 24min
Bryan Burrough - Barbarians at the Gate
Author and journalist Bryan Burrough discusses his classic work 'Barbarians at the Gate,' detailing the high stakes battle for RJR Nabisco. The podcast delves into the complex negotiations of the leveraged buyout, the strategies of major players, and the intense bidding war for acquisition, revealing insights into the captivating Wall Street drama.

May 6, 2024 • 58min
Rob Copeland - The Fund
In this episode, reporter Rob Copeland joins Cole Smead to discuss his book, "The Fund," which provides a detailed account of the rise of Ray Dalio and the founding of Bridgewater Associates, one of the largest hedge funds in the world. Copeland provides insights into Dalio's impact on the finance industry through his unique approach to economics and risk management.

Apr 22, 2024 • 1h 27min
Benji Backer - The Conservative Environmentalist
Activist Benji Backer discusses the economic benefits of merging conservative values and environmental sustainability. Topics include: aligning environmentalism with American economic interests, challenges of reducing emissions in rural America, incentivizing vegetable consumption, market-driven origins of the Toyota Prius, managing forests for healthy ecosystems, balancing conservation with population growth, challenges of achieving net-zero emissions in California, consequences of Greta's advocacy for solar and wind energy, and exploring global climate solutions.

Apr 8, 2024 • 1h 21min
Jennifer Burns - Milton Friedman: The Last Conservative
In this episode, historian Jennifer Burns joins Cole Smead to discuss her book "Milton Friedman: The Last Conservative," which provides an in-depth analysis of Friedman's economic theories and their lasting impact on conservative ideology. The book chronicles key moments in the life of one of the most influential economists of our time, and how his pragmatic way of thinking significantly shaped contemporary economic discourse.

Apr 1, 2024 • 32min
The Smead Book List - Spring 2024
Interested in the Smead Capital Management book list? Listen in to hear Cole and Bill Smead list the books they have recently read, what they’re currently reading, and the books they have on deck. Have a book you would like to recommend for the podcast? Email your suggestions to podcast@smeadcap.com.

Mar 18, 2024 • 1h 18min
Ekaterina Pravilova - The Ruble
In this episode, author and Professor Ekaterina Pravilova joins Cole Smead to discuss her book, “The Ruble: A Political History.” Ekaterina’s book explores the evolution of the Russian currency over a 200-year time period through the interplay between politics, culture, and ultimately, power. Their conversation covers financial turmoil, currency reforms, and an extensive discussion of Ruble’s story.

Mar 4, 2024 • 1h 6min
Harold James - Seven Crashes
In this episode, author and historian Harold James joins Cole Smead to discuss his book, “Seven Crashes: The Economic Crises That Shaped Globalization.” Their discussion delves into major economic downturns throughout history, offering insights into their causes, impacts, and reforms to prevent future crises.