Good Investing Talks

Guest Guy Spier, Investment business builder, shares his advice for emerging managers. Topics include best investments, growing into new marketing channels, long-term payback, managing business expenses, and persistence in giving.

It was great to welcome Tom Gayner of Markel back on the podcast. This interview, done in April 2023, tells a bit of a different story. The core is built around how Tom has steadily built Markel’s reputation. We have discussed the following:00:00 Introduction01:05 Introducing Tom Gayner01:50 Describing the market with music06:57 “Touring” to build a name09:05 Curating a portfolio12:30 Addressing an audience18:23 Why communication is key21:14 Check out Stratosphere https://stratosphere.io/?lmref=bJ0jjw (no code needed)22:22 Making complex concepts easy to digest25:01 Building on the salesman experience28:55 Problem solving31:05 Tom’s special perspective38:30 Being frugal vs. investing in the right things41:30 The importance of consistency47:35 Confrontation50:40 Markel’s valuation55:30 Closing thoughts55:49 Thank you ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ goodinvesting #markel #ceo The Good Investing universe▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Apply to the Plus community: https://good-investing.net/plus/ Enjoy the podcast transcripts: https://good-investing.net/ Helpful services for investors▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Stratosphere – beautiful stock analysis tool* – https://stratosphere.io/?lmref=bJ0jjw TIKR – great data tool *: https://tikr.com/goodinvesting/ Wise – our recommended savings account *: https://good-investing.net/wise/ Newsletter & legal▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Our newsletter: https://www.good-investing.net/contact/good-investing-center-newsletter-subscription/ Imprint: https://www.good-investing.net/imprint/ Disclaimer: https://good-investing.net/imprint/disclaimer/ Transparency▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬Good Investing Talks is a video & audio production of Good Investing, a brand of Good Investing UG. The editorial responsibility of these broadcasts lies solely with Good Investing UG. In the run-up to the recording, the guests refrain from co-determination of content or editorial influence and pay a cost contribution for the organization and production of the video & audio and transcript formats. Affiliate Link = * Tom Gayner, how are you building Markel? A CEO interview appeared first on Good Investing - Understanding businesses & Connecting investors.

Dr. Thomas Triska is the CFO of the European railway company Vossloh. After years of structural change, Vossloh now seems to be on a new growth track that is supported by global infrastructure investments. We have discussed the following:00:00 Teaser00:29 Intro Good Investing Talks & Disclaimer01:07 Introducing Thomas Triska01:41 The regional importance of Vossloh02:23 Comparing the European & US railway system04:46 What highspeed train tracks07:53 Tension clamps09:35 Research & Development12:57 Check out Stratosphere13:24 Maintainance22:10 The Chinese market & thoughts on maintenance renewal contracts29:35 The hurdles of demographic change32:27 Check out GI Plus33:00 Vossloh since 201441:28 Climate targets and demand for products48:38 Inflation & negotiations with partners54:40 Backlog and investments57:28 Goals in terms of profitability59:37 Thinking about risks01:04:00 Competition01:07:51 Shareholder structure01:09:45 Skin in the game01:10:30 Management buying shares01:11:20 Thank you & goodbye The Good Investing universe▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Join the Supporters Club: https://good-investing.net/support/ Apply to the Plus community: https://good-investing.net/plus/ Enjoy the podcast transcripts: https://good-investing.net/ Helpful services for investors▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Stratosphere – beautiful stock analysis tool – get 25% off with the Good Investing: https://www.stratosphere.io/ TIKR – great data tool *: https://tikr.com/goodinvesting/ Wise – our recommended travel account *: https://good-investing.net/wise/ Newsletter & legal▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Our newsletter: https://www.good-investing.net/contact/good-investing-center-newsletter-subscription/ Imprint: https://www.good-investing.net/imprint/ Disclaimer: https://good-investing.net/imprint/disclaimer/ Transparency▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬Good Investing Talks is a video & audio production of Good Investing, a brand of Good Investing UG. The editorial responsibility of these broadcasts lies solely with Good Investing UG. In the run-up to the recording, the guests refrain from co-determination of content or editorial influence and pay a cost contribution for the organization and production of the video & audio and transcript formats. Affiliate Link = * Is Vossloh on track to outgrow expectations, Mr. Triska? appeared first on Good Investing - Understanding businesses & Connecting investors.

Here you can enjoy the second part of our interview series with Guy Spier of Aquamarine Capital. We have discussed the following:00:00 Introduction00:21 Good Investing Talks Intro01:00 Why did you not invest in Apple?08:37 Handling mistakes14:00 Check out Stratosphere https://www.stratosphere.io/ and get 25% off with the code goodinvesting14:32 Germany19:56 China24:03 The evil side within humans26:50 Jordan Peterson – also see https://youtu.be/hSNWkRw53Jo30:34 At the moment, what do you love as a Value Investor?35:07 Thank you The Good Investing universe▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Join the Supporters Club: https://good-investing.net/support/ Apply to the Plus community: https://good-investing.net/plus/ Enjoy the podcast transcripts: https://good-investing.net/ Helpful services for investors▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Stratosphere – beautiful stock analysis tool – get 25% off with the Good Investing: https://www.stratosphere.io/ TIKR – great data tool *: https://tikr.com/goodinvesting/ Wise – our recommended travel account *: https://good-investing.net/wise/ Newsletter & legal▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Our newsletter: https://www.good-investing.net/contact/good-investing-center-newsletter-subscription/ Imprint: https://www.good-investing.net/imprint/ Disclaimer: https://good-investing.net/imprint/disclaimer/ Transparency▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬Good Investing Talks is a video & audio production of Good Investing, a brand of Good Investing UG. The editorial responsibility of these broadcasts lies solely with Good Investing UG. In the run-up to the recording, the guests refrain from co-determination of content or editorial influence and pay a cost contribution for the organization and production of the video & audio and transcript formats. Affiliate Link = * Guy Spier, how would you invest 1 Mio $ in China? appeared first on Good Investing - Understanding businesses & Connecting investors.

Welcome to our new series with fund starters! Here we want to portray Emerging Managers that just recently started a fund. Marko Graßmann just recently started managing the Alpha Star Europe fund. Here you can find additional information: https://www.alpha-star-aktienfonds.de/europa/ In Good Investing Plus, we have also discussed an investment idea of Marko in detail. Please apply to it here https://good-investing.net/plus/ We have discussed the following:00:00 Fund starter intro00:30 Welcome to Good Investing Talks01:09 Introduction to Marko Grassmann & AlphaStar01:55 The drive to start a new fund02:56 AlphaStar’s approach to investing04:27 The long-term goal05:20 Things to look out for in investment as quality investors08:55 Mistakes that helped Marko grow as an investor15:23 Companies Marko avoids19:02 Balancing value and quality23:34 Recipe for a starting portfolio27:21 Taking on the role of a boss30:21 Check out GI Plus30:54 Skin in the game33:52 Perspective on the next 3 years37:40 Thank you & goodbye The Good Investing universe▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Join the Supporters Club: https://good-investing.net/support/ Apply to the Plus community: https://good-investing.net/plus/ Enjoy the podcast transcripts: https://good-investing.net/ Helpful services for investors▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Stratosphere – beautiful stock analysis tool – get 25% off with the Good Investing: https://www.stratosphere.io/ TIKR – great data tool *: https://tikr.com/goodinvesting/ Wise – our recommended travel account *: https://good-investing.net/wise/ Newsletter & Legal ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Our newsletter: https://www.good-investing.net/contact/good-investing-center-newsletter-subscription/ Imprint: https://www.good-investing.net/imprint/ Disclaimer: https://good-investing.net/imprint/disclaimer/ Transparency▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬Good Investing Talks is a video & audio production of Good Investing, a brand of Good Investing UG. The editorial responsibility of these broadcasts lies solely with Good Investing UG. In the run-up to the recording, the guests refrain from co-determination of content or editorial influence and pay a cost contribution for the organization and production of the video & audio and transcript formats. Affiliate Link = * Marko Graßmann, what do you plan with the Alpha Star Europa fund? appeared first on Good Investing - Understanding businesses & Connecting investors.

Guy Spier is back! Three years after our first interview (https://www.youtube.com/playlist?list=PL2jGs_PC8EQX8fIuSUCt8PEcWD0O3GH__), I had the pleasure of interviewing Guy Spier of Aquamarine Capital again in his library in Zurich. We have discussed the following:00:00 Teaser & Introduction00:57 Welcome back, Guy Spier01:33 Guy’s meditation practice05:36 The metaphor of the drunken bar10:24 Givers15:20 Check out Stratosphere & Get 25% off with the code goodinvesting https://www.stratosphere.io/15:50 “Destroying” ideas that don’t fit the portfolio31:10 Setting up filters with the example of Turkey38:33 Thank you The Good Investing universe▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Join the Supporters Club: https://good-investing.net/support/ Apply to the Plus community: https://good-investing.net/plus/ Enjoy the podcast transcripts: https://good-investing.net/ Helpful services for investors▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Stratosphere – beautiful stock analysis tool: https://www.stratosphere.io/ – Get 25% off with the code goodinvesting TIKR – great data tool *: https://tikr.com/goodinvesting/ Wise – our recommended travel account *: https://good-investing.net/wise/ Newsletter & Legal ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Our newsletter: https://www.good-investing.net/contact/good-investing-center-newsletter-subscription/ Imprint: https://www.good-investing.net/imprint/ Disclaimer: https://good-investing.net/imprint/disclaimer/ Transparency▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬Good Investing Talks is a video & audio production of Good Investing, a brand of Good Investing UG. The editorial responsibility of these broadcasts lies solely with Good Investing UG. In the run-up to the recording, the guests refrain from co-determination of content or editorial influence and pay a cost contribution for the organization and production of the video & audio and transcript formats. Affiliate Link = * What happened to the drunk in the bar, Guy Spier? appeared first on Good Investing - Understanding businesses & Connecting investors.

Following the Paris agreement, the world has to rebuild its energy system. But what does that mean in detail? I have discussed this question with Anthony Young of Edendale Capital, focusing on metals and mining. We have discussed the following:00:00 Introduction01:05 Introducing Anthony Young02:05 Disclaimer02:12 Anthony‘s background03:25 From metals & mining to renewables04:52 Things to look out for in metals & mining05:37 The impact of decarbonization07:37 Reaching net zero and the effect on the commodity business12:13 Remodeling the energy infrastructure13:47 Check out Stratosphere14:17 The volatility of renewables17:02 Material demand in the energy transition18:50 Other interesting metals21:06 Book recommendations23:30 Copper intensity27:34 Copper intensity in housing and mobility31:50 Comparing European and American infrastructure32:52 Check out GI Plus33:35 Can the supply keep up?36:45 Working on existing mines39:35 Outlook on future copper harvest42:53 Ore grades48:08 Counter arguments50:45 The impact of the copper price on the energy transition53:05 China’s demand55:12 The dark sides of the industry01:00:00 Factors to consider when investing01:03:30 Energy input01:06:05 Thoughts on uranium01:07:40 Nearshoring & reshoring01:09:41 Closing thoughts01:12:22 Thank you The Good Investing universe▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Join the Supporters Club: https://good-investing.net/support/ Apply to the Plus community: https://good-investing.net/plus/ Enjoy the podcast transcripts: https://good-investing.net/ Helpful services for investors▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Stratosphere – beautiful stock analysis tool – get 25% off with the Good Investing: https://www.stratosphere.io/ TIKR – great data tool *: https://tikr.com/goodinvesting/ Wise – our recommended travel account *: https://good-investing.net/wise/ Newsletter & legal▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Our newsletter: https://www.good-investing.net/contact/good-investing-center-newsletter-subscription/ Imprint: https://www.good-investing.net/imprint/ Disclaimer: https://good-investing.net/imprint/disclaimer/ Transparency▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬Good Investing Talks is a video & audio production of Good Investing, a brand of Good Investing UG. The editorial responsibility of these broadcasts lies solely with Good Investing UG. In the run-up to the recording, the guests refrain from co-determination of content or editorial influence and pay a cost contribution for the organization and production of the video & audio and transcript formats. Affiliate Link = * What chances do metals and mining offer, Anthony Young? appeared first on Good Investing - Understanding businesses & Connecting investors.

Stone House Partners has a fascinating investing approach. Compared to the other investors on this channel, they bring the term “concentration” to a maximum. What does this mean for their performance? The answer is surprisingly good! We have discussed the following:00:00 Teaser00:12 Introduction & Disclaimer00:41 Introducing Mark Cohen & Raphi Rabin-Havt (https://www.stonehousemgt.com/)01:48 The name „Stone House“ & what they do differently04:11 Turning around every stone07:40 Mark Cohen’s background14:37 Check out Wise* https://good-investing.net/wise/15:20 The first years at Stone House18:15 Tips for the younger self when building an investment business21:55 Raphael Rabin-Havt’s background23:37 Lessons from journalism25:55 Changes after Raphi joined Stone House27:40 Three strengths31:45 Check out Good Investing Plus https://good-investing.net/plus/32:08 Filtering through noise36:11 Being a good portfolio manager38:35 Finding the right kind of growth39:27 Important metrics41:47 Dealing with debt43:50 Concentration47:01 The human component in change52:00 The long-duration game while building trust56:49 Activism01:01:44 Working with management01:06:04 “Good” and “bad” crazy01:07:31 The time between interest and investment01:10:20 Challenging each other01:11:33 Multiple expansion01:15:43 Reasons for selling01:18:00 The ideal partners01:20:22 Closing thoughts01:21:53 Goodbye The Good Investing universe▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Join the Supporters Club: https://good-investing.net/support/ Apply to the Plus community: https://good-investing.net/plus/ Enjoy the podcast transcripts: https://good-investing.net/ Helpful services for investors▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ TIKR – great data tool *: https://tikr.com/goodinvesting/ Wise – our recommended travel account *: https://good-investing.net/wise/ Newsletter & legal▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Our newsletter: https://www.good-investing.net/contact/good-investing-center-newsletter-subscription/ Imprint: https://www.good-investing.net/imprint/ Disclaimer: https://good-investing.net/imprint/disclaimer/ Affiliate Link = * How does Stone House invest super concentrated? appeared first on Good Investing - Understanding businesses & Connecting investors.

Jake Taylor of Farnam Street Investments has spent a lot of time building Journalytic (https://journalytic.com/). Journalytic is a journaling tool for investors. In this podcast, we discussed Jake’s background and what he has built with Journalytic. Apply to Plus ► https://www.good-investing.net/plus/Support us ► https://www.good-investing.net/support/ & https://paypal.me/goodinvesting We have discussed the following:00:00 Check out Wise* https://good-investing.net/wise/00:40 Introducing Jake Taylor02:28 Changing careers to investing04:00 Jake’s podcasts: “5GQ – Five Good Questions” and “The Hikecast”07:46 Getting information through books10:50 Jake’s book: “The Rebel Allocator”12:14 Coming up with Journalytic16:43 Goals of Journalytic18:53 What you can do with Journalytic31:04 Sleep and the investment process32:01 Upcoming features35:45 Data Ownership36:50 Popular functions38:25 Implementing community feedback40:27 Bias protection42:12 Reflection on own habits46:00 Leaping into a business building47:47 Learnings about software businesses48:48 Hiring employees50:02 Appreciating businesses51:38 Developing software55:55 Data sufficiency58:30 Closing thoughts59:58 Thank you01:00:52 Disclaimer More▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Apply to the Plus community: https://good-investing.net/plus/ Join our Supporters Club: https://good-investing.net/support/ TIKR – our data tool *: https://tikr.com/goodinvesting/ IB – our recommended broker *: https://good-investing.net/ib/ Wise – our recommended travel account *: https://good-investing.net/wise/ Disclaimer: https://good-investing.net/imprint/disclaimer/▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Affiliate Link = * Jake Taylor, how does Journalytic help investors? appeared first on Good Investing - Understanding businesses & Connecting investors.

Check-out Wise ► https://good-investing.net/wise/ * JDC is a German company trying to digitize the insurance sector with its software and service approach. Together with the co-founder Sebastian Grabmaier, I could do a deep dive into the company. Apply to plus ► https://www.good-investing.net/plus/Support us ► https://www.good-investing.net/support/ & https://paypal.me/goodinvesting We have discussed the following:00:00 Check out Wise* https://good-investing.net/wise/00:40 Introduction to Dr. Sebastian Grabmaier & JDC01:40 Why get out of bed every morning?02:54 JDC’s history04:30 Learnings from difficult times06:04 Focussing on one thing06:59 Tips for the “past self”07:45 Re-capitalizing JDC with private money09:40 The insurance industry11:16 Clockspeed in the insurance industry13:45 Early mistakes15:10 JDC’s problem solving16:49 The B2B2C model20:13 Difficulty in comparing insurance companies22:11 Onboarding insurance products23:15 Project cycles25:50 Saving banks28:07 Where they earn money32:00 Maintenance costs of the infrastructure32:47 Room to grow34:13 Improving with a client35:35 Comdirect37:00 Reasons for losing customers or change of contracts38:00 Tenders40:16 Having a platform that stands out41:58 Thought experiment on Amazon44:16 The data flywheel?46:38 Areas to grow within the company47:58 Digitalisation49:47 Community Exclusive: Impacts of the pandemic51:00 Addressing customer needs55:12 Demographic shift within the broker industry58:47 Example of Deka01:01:00 Choosing a specialized broker01:03:25 Germany within the European market01:04:50 Expansion01:05:45 Competition for JDC01:06:42 A look into the future01:11:20 The right management mindset01:13:11 What investors look for01:15:49 Staying ahead of the game01:16:22 Thank you01:16:35 Disclaimer More▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Apply to the Plus community: https://good-investing.net/plus/ Join our Supporters Club: https://good-investing.net/support/ TIKR – our data tool *: https://tikr.com/goodinvesting/ IB – our recommended broker *: https://good-investing.net/ib/ Wise – our recommended travel account *: https://good-investing.net/wise/ Disclaimer: https://good-investing.net/imprint/disclaimer/▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Affiliate Link = * Can JDC digitize the insurance industry, Sebastian Grabmaier? appeared first on Good Investing - Understanding businesses & Connecting investors.