Christopher Tsai started his fund in his early 20s. Since then he has created an impressive track record. In this interview, he shared deep insights from his 20+ year investing career. We also talked about the overlap between investing and art. We have discussed the following:00:00 Check out In Practise: https://inpractise.com/?utm_source=tilmanvideo200:35 Who is Christopher Tsai?00:47 Investing in “party markets”02:49 The return of the “party markets”03:31 Investing in 2020/202104:38 After 20+ years as an investor: What has kept Christopher hooked?05:27 What was it like starting a fund with 2507:01 Early lessons learned10:28 Areas of improvement14:00 Innovative technology and the investing game17:33 Businesses that link hardware and software18:54 Building your own reputation instead of being your father’s son24:50 Lessons from Christopher’s grandmother26:14 Building your investment business on the shoulders of giants30:20 Expanding your circle of competence31:52 Non-investing concepts and Christopher’s investing approach38:18 Managing biases41:17 Habits he has let gon in his earlier years42:41 How does art help being a good investor44:10 Letting art change you46:10 “Creating” art yourself47:48 Similarities between art collection and building a portfolio49:40 Filters for quality54:04 Builders in art & investing56:06 The importance of looking for the right people57:00 Would you rather give away a great piece of art or the stock of a great company? (Community Exclusive)57:54 The deeper and darker sides of art01:00:35 Are there always win-win frameworks?01:01:00 Paying for the future as an investor01:03:30 Building certainty in investing for the future01:08:10 Optionality01:09:14 Closing thoughts and Marc Twain01:15:01 Disclaimer More▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Apply to the Plus community: https://good-investing.net/plus/ Join the Supporters Club: https://good-investing.net/supporters-club/ IB – our recommended broker *: https://good-investing.net/ib/ Smartbroker – our recommended broker for Germans *: https://good-investing.net/smartbroker/ TIKR – our data tool *: https://tikr.com/goodinvesting Disclaimer: https://good-investing.net/imprint/disclaimer/▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Affiliate Link = * Christopher Tsai, is investing an art? Insight from 20+ years at Tsai Capital appeared first on Good Investing.

Marc Appelhoff is the CEO of Home24 – a leading European e-commerce retailer for the mass markets. In this interview, we discussed the future of this business that is currently heavily shorted. We discussed the following topics:00:00 Check out Interactive Brokers: https://good-investing.net/ib/ *00:37 Introduction: Who is Marc Appelhoff?01:26 Three Reasons to be bullish about the future of Home2403:05 home24’s NPS score03:55 Learnings from building 12 years home2405:40 Scenario: Putting future growth investment on hold07:00 The benefits of growth08:30 home24 in 10 years09:20 Creating long-term value11:00 Competitors15:12 Starting the sofa buying journey17:30 The Butlers acquisition20:50 Brands of the Home24 universe23:40 LTV/CAC27:15 How “cheap” is the acquisition of Butlers?20:30 Marketing channels (Google & Facebook)33:37 Why copying the Home24 concept won’t work35:20 The Customer experience37:30 Consumer taste39:45 Mobly S.A. – The Brazilian subsidiary42:45 Enhancing the home24 business model beyond furniture retail45:15 home24 and delivery49:00 Current logistical woes51:20 The return rate54:00 Sustainability56:40 Encouraging repeat customers59:55 Buybacks (Community exclusive)01:00:47 Thank you & goodbye01:01:07 Disclaimer More▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Apply to the Plus community: https://good-investing.net/plus/ Join the Supporters Club: https://good-investing.net/supporters-club/ IB – our recommended broker *: https://good-investing.net/ib/ Smartbroker – our recommended broker for Germans *: https://good-investing.net/smartbroker/ TIKR – our data tool *: https://tikr.com/goodinvesting Disclaimer: https://good-investing.net/imprint/disclaimer/▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ = Affiliate Link Marc Appelhoff (Home24 CEO): How do you build e-commerce’s future? appeared first on Good Investing.

William Oliver and William Barnes run In Practise – a service for expert interviews. In this conversation, we took some time to talk about the art of interviewing. We discussed the following:00:00 What to expect00:28 Introduction01:50 Beginnings of InPractise05:50 Thousands of interviews06:40 How does In Practise help investors10:00 Inspiration from other businesses, e.g. Netflix14:28 Choosing interview partners18:00 The example of Naked Wines19:25 The never-ending flow of information22:30 The Naked Wines case24:20 The limits of interviews29:15 Talking to CEOs or “people on the ground”31:10 Reflecting on biases33:30 (Not) preparing questions35:50 The art of listening40:46 Creating unique insights42:30 The benefits for interview partners49:30 Bridging “language” differences53:30 Margins56:50 “Hacks”01:00:35 Using humor01:03:15 Using emotions – Community exclusive01:04:00 “Managing” your own emotions01:06:47 Limitations of transcripts01:12:30 Time01:15:30 Cultural differences01:18:20 Thank you & Goodbye01:18:59 Disclaimer More▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ My community: https://www.good-investing.net/plus/ Say thank you: https://www.good-investing.net/thank-… My broker *: https://www.good-investing.net/ib/ Disclaimer: https://www.good-investing.net/imprin…▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ = Affiliate Link How to do great interviews? A chat with Will Barnes & Will Oliver (In Practise) appeared first on Good Investing.

Daniel Gehlen and Marc-Lennart Bräutigam of Gehlen Bräutigam Capital run the Gehlen Braeutigam Value HI funds. The fund is specialised on European small and midcaps. We discussed the following topics:00:00 Check out Interactive Brokers: https://www.good-investing.net/ib/ *00:35 Introduction01:25 A Europe-focussed fund06:15 Learning at Barclays10:05 Daniel’s early investments11:25 Launching a fund and making mistakes14:15 Learnings16:35 Return-orietnation or asset gathering?18:35 Defining the “European” market20:05 Exploring the European market22:05 Finding the best ideas24:15 The fund’s team30:45 Benefits of a different perspective31:20 Being leaders34:25 Gaming & gambling companies like Endor, Naked Wines & Italian Wine Brands40:20 Stock example: Italian Wine Brands44:35 Community exclusive46:00 The idea generation process50:05 Benefits of the limited broker coverage in Europe53:30 Valueing companies56:05 Risks58:32 Hurdle rates for an investment01:00:35 Investing in the own fund?01:01:15 Thank you01:02:20 Goodbye01:02:35 Disclaimer More▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ My community: https://www.good-investing.net/plus/ Say thank you: https://www.good-investing.net/thank-… My broker *: https://www.good-investing.net/ib/ Disclaimer: https://www.good-investing.net/imprin…▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ = Affiliate Link How to find great European stocks, Daniel Gehlen & Marc-Lennart Bräutigam? appeared first on Good Investing.

Philipp Haas just launched his fund, but before that, he had an impressive track record and shared a lot of his investing knowledge publically via his YouTube channel https://www.youtube.com/c/InvestresearchNet. In our talk we discussed the following topics: 00:00 Check out Interactive Brokers: https://www.good-investing.net/ib/00:38 Introducing Philipp Haas02:13 The fair PE06:34 Trend/momentum investment08:18 Transparency & capability of Philipp’s algorithm10:30 Mistakes & take-aways13:25 Dealing with small & big companies16:00 Finding inspiration for the YouTube channel18:41 Brand- vs. trust-building20:40 Philipp’s book22:00 Early stages of investing23:58 Motivation for content creation25:27 Motivation & passion29:55 Factors for success on the internet31:25 Wikifolio33:25 Managing 8 strategies at once35:15 Example of Midcaps Europe37:30 Managing a large portfolio39:40 Community exclusive40:20 Fund vs. portfolio43:13 Building on the basis of Wikifolio & social media43:43 Thoughts on fees47:13 Being invested in own fund48:43 Community exclusive49:43 Managing time between YouTube, Wikifolio, and the fund51:35 Long-term plans53:14 Turning to help54:45 Where to find Philipp55:08 Goodbye55:15 Disclaimer More▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ My community: https://www.good-investing.net/plus/ Support Good Investing: https://www.good-investing.net/thank-… My broker *: https://www.good-investing.net/ib/ Disclaimer: https://www.good-investing.net/imprin…▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ = Affiliate Link Philipp Haas, how did you build a successful fund with YouTube? appeared first on Good Investing.

Check out In Practise: https://to.inpractise.com/3C5Frbq * With Joe Frankenfield of Saga Partners I have discussed the following topics: 00:00 Check out In Practise: https://to.inpractise.com/3C5Frbq00:37 Introduction00:49 Joe Frankenfield’s first steps in money management08:30 Is investing gambling?09:50 Being based in Cleveland12:00 Setting up Saga Partners for long-term investments15:00 The ideal investor17:45 Philosophy of Saga Partners19:45 The boat20:10 Choosing the right partner23:44 Strength: patience25:50 Saga’s definition of Value Investing32:10 Balancing opportunism and deep-knowledge36:30 Evolving & replacing portfolio positions40:40 Dealing with “mistakes”42:50 Finding stable investments for the future48:05 Example of Roku53:10 Handball and the parallels to research57:40 Dealing with bias01:08:25 Community Exclusive01:09:11 Long-term portfolio construction01:14:32 Managing money privately vs. professionally01:16:08 Positivity boost for everyone01:16:45 Saying no01:21:27 Defining high-quality companies01:28:43 Culture and team01:30:18 Customize your approach to investing01:32:37 Thank you01:32:52 Goodbye01:32:57 Disclaimer More▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ My community: https://www.good-investing.net/plus/ Say thank you: https://www.good-investing.net/thank-… My broker *: https://www.good-investing.net/ib/ Disclaimer: https://www.good-investing.net/imprin…▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ * = Affiliate Link Joe Frankenfield, how much Value Investing is in Saga Partners? appeared first on Good Investing.

Try Interactive Brokers: https://www.good-investing.net/ib/ * Alex Kopel has left his high-paying Wallstreet job to found Rowan Street Capital together with Joe Maas. There he focuses on investing in high-quality businesses and great returns. In our conversation we discussed the following: 00:00 Learn more about Interactive Brokers https://www.good-investing.net/ib/ *00:38 Who is Alex Kopel?00:48 Frustration with the traditional way of managing money03:34 The beginnings of Rowan Street05:00 Zero management fees07:33 Dealing with smaller returns in the beginning08:50 Creating stability as a founder11:43 Choosing the right partner16:13 Finding consensus at portfolio building20:08 Factors for choosing stocks for the portfolio22:06 Valuation challenges25:53 Change & investing27:08 Dealing with change32:08 Community Exclusive33:18 Mistakes36:20 Revising the process39:13 “Mode” and “Change”42:53 Defining high-quality businesses45:30 Exceptional opportunities49:25 Never going back to Wall Street51:23 Growth since leaving Wall Street54:38 Thank you55:38 Goodbye55:44 Disclaimer More▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ My community: https://www.good-investing.net/plus/ Say thank you: https://www.good-investing.net/thank-you/ My broker *: https://www.good-investing.net/ib/ Disclaimer: https://www.good-investing.net/imprint/disclaimer/▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ * = Affiliate Link Alex Kopel, how do you invest at Rowan Street Capital? appeared first on Good Investing.

South Korea is an interesting country to invest in. With the experts of Petra Capital, I had the chance to do a deep dive into this market. We discussed the following:00:00 Introduction00:30 Habital land of South Korea03:00 Effects of high density04:18 Infrastructure in South Korea06:30 Korea’s economic history07:10 Shift to technology08:47 Relation between South and North Korea12:30 Korean stock market before and after COVID16:50 Korea’s stock market culture17:55 Foreign investments in Korea20:30 Petra’s filters for selecting stocks25:30 Questionable business models27:45 Samsung as an example for Korean holdings34:15 Holding discount38:36 Shareholder culture in Korea42:05 Activism in Korea45:29 Recommendations on Korean capital allocators48:22 Cash on the balance sheet51:17 Buybacks53:00 Differences to Japan56:50 Playing IPOs58:00 Petra’s evolution01:00:08 Investing in Tech01:04:20 Export business models01:06:50 Choosing & sizing stocks01:08:30 Compounders01:09:45 Reopening after COVID01:11:06 Compounder example: Kakao01:16:40 Community exclusive: Renewables01:17:33 Understanding Korean culture01:23:45 Pace of development in Korea vs China01:27:04 Transformation of Korea’s economy01:28:00 Government’s crisis management01:33:54 Thank you01:34:10 Disclaimer More▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ My community: www.good-investing.net/plus/ Say thank you: https://www.good-investing.net/thank-you/ Disclaimer: https://www.good-investing.net/imprint/disclaimer/▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ What are good ways to invest in South Korea, Petra Capital? appeared first on Good Investing.

This is the final part of our discussion about the future of Spotify. Here you can find all episodes: https://www.youtube.com/playlist?list=PL2jGs_PC8EQV9xbT-Y7l3X5Wl9-RlQ4AC In this discussion with Jeremy Deal and Sleepwell Capital we have covered the following points:00:00 Spotify Series overview00:50 Spotify’s partnership strategy01:50 Paying artists in emerging markets05:15 The car Thing07:30 Recommendations, discoveries & engagement11:30 Spotify’s edge over competitors12:30 Growing content base & delivering it to the user14:40 Music discovery strategies16:10 Effects on music production18:10 Potential by transcribing podcasts21:45 Production tools for creators28:00 Data analytics for artists28:45 Breaking down barriers for artists31:04 Aiming for a Friction-less workflow31:48 Spotify as an aggregator33:50 Experimenting with payment models38:08 Streaming income43:00 Royalty splits46:00 Understanding perpetual revenue47:52 Turning engagement into new business models52:08 Testing new possibilities56:09 Community exclusive57:13 Evaluating Spotify for investors01:03:13 Thoughts on Crypto & future opportunities01:04:50 Encouragement to try out the App01:06:10 Buyback01:07:46 Thank you & Goodbye01:08:08 Disclaimer More▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ My community: www.good-investing.net/plus/ Say thank you: https://www.good-investing.net/thank-you/ Disclaimer: https://www.good-investing.net/imprint/disclaimer/▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ How does Spotify win the creators, Jeremy Deal & Sleepwell Capital? appeared first on Good Investing.

Thatcher Martin of Spree Capital Advisers has built an investment firm that focuses on the long-term and invests in high-quality businesses. We discussed the eight commonalities of high-quality businesses and his investment in the eBay stock and the Upwork stock. Here are the timestamps:00:00 Introduction00:12 Origin of the name Spree Capital01:50 His minimalist website03:45 Saying “no”04:18 Saying “yes”17:20 First career steps22:40 Building a firm23:30 Forming investing process24:50 Time management26:26 Investors of Spree Capital29:00 Mistakes31:30 Integrating learnings36:20 8 aspects of a high-quality businesses37:40 Selecting 20 businesses for the portfolio41:00 Managing risk42:00 The tool of qualitative analysis44:30 Analysing the business model47:00 How long do you analyze?47:53 The Upwork stock investment01:02:25 Community exclusive01:03:15 Role of management01:04:54 Dealing with competitive businesses in an industry01:08:22 Deep understanding is key01:10:00 Selling01:12:20 Example of eBay stock01:26:00 US markets vs global markets01:28:35 Disclaimer More▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ My community: www.good-investing.net/plus/ Say thank you: https://www.good-investing.net/thank-you/ Disclaimer: https://www.good-investing.net/imprint/disclaimer/▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ What do all successful investments share, Spree Capital? appeared first on Good Investing.