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The Education of a Value Investor

Latest episodes

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Jul 7, 2023 • 1h 11min

Ben Feder on Video Games, Artificial Intelligence and his VC Firm TIRTA

Ben Feder is an investor and games executive, currently managing partner at TIRTA Ventures. He is also the author of the book Take Off Your Shoes: One Man's Journey from the Boardroom to Bali and Back. Ben formerly served as the CEO of Take-Two Interactive and was President of International Partnerships for North America at Tencent Games.Ben talks to Guy about his early career in the media industry, the time he was part of the successful takeover of Take-Two Interactive, and his newly launched venture capital firm TIRTA. Some other topics include video games, artificial intelligence, and the world of streaming. Full transcript available here: https://aqfd.docsend.com/view/vst3ch75vk2n2sdv Contents:(00:00:00) Introduction (00:02:19) The Start of a Successful Career (00:08:13) Choosing Between Business School and a Ph.D. (00:11:36) How to Be a Good Leader (00:18:36) The Takeover of Take-Two Interactive (00:26:23) Streamers vs. Owners of Content (00:29:41) Should Authors Self-Publish? (00:38:00) The World of Video Games (00:47:13) Artificial Intelligence as a Productivity Tool (00:55:02) TIRTA’s Place in the Venture Capital Space (00:59:59) Some Thoughts on Psychotherapy (01:03:47) Jewish Identity and Interconnectedness 
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Jun 9, 2023 • 1h 34min

Christina Patterson on Facing Adversity and Finding Strength

Christina Patterson is a journalist, writer, broadcaster, and coach. A former columnist at The Independent, today Christina writes for the Daily Mail, Observer Magazine and The Telegraph, and reviews for The Sunday Times. She is also a regular guest on the Sky News press preview. Christina talks to Guy Spier about her books and the journey of her and her family’s life, which effectively inspired them. Other topics include psychotherapy, writing and poetry, as well as the importance of speaking our parents’ mother tongues. Full transcript available here: https://aqfd.docsend.com/view/2qfv9ccrixrjbb5wContents:(00:00:00) Two Books, One Courageous Author(00:07:12) The Life Behind the Memoir(00:13:23) Why Do We Long for Self-Help Books?(00:25:04) The Discovery of Swedish Roots(00:36:24) Commitment to Truthfulness(00:44:42) Conversation as a Healer(00:50:26) The Dark Side of the Church(00:58:52) Therapy and Alternative Medicine(01:10:01) How to Master Writing(01:20:51) Poetry: The Purest Form of Literary Art(01:23:53) Looking Towards the Future(01:29:30) On the Love for Italy
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Apr 24, 2023 • 21min

Lauren Templeton on her Path in Investing, on Becoming Director of Fairfax India and on Working with her Husband

Lauren Templeton is the founder and CEO of Templeton & Phillips Capital Management. Investing runs in Lauren's blood, as she is the great niece of Sir John Templeton. She reflects on their work together, as well as on the impact of her father on Lauren's journey in investing. Lauren also gives some insight into the perks of working with her husband, Scott Phillips.Transcript available here: https://aqfd.docsend.com/view/z5j2t67cqmbnn7ba
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4 snips
Mar 30, 2023 • 2h 11min

William Green with Guy Spier: Investing Prudently in Perilous Times.

This is a repost of episode RWH023 of The Investor’s Podcast Network. Please check out the original episode here:   https://youtu.be/G1yQcykKYJg If you’d like to hear more of William Green’s interviews on the “Richer, Wiser, Happier” podcast, then please check them out here:   https://www.theinvestorspodcast.com/richer-wiser-happier/ We discussed many things that are so relevant to today's environment including   - attending the Berkshire Hathaway meeting - the influence of Warren Buffett - stocks like Spotify, Roku, Twilio - investing in China  and so much more...
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Mar 6, 2023 • 24min

Jeff Henriksen: Learning by Teaching. Gaining the Behavioral Edge in Investing

Jeff Henriksen is the co-founder and CEO of Thorpe Abbotts Capital, a value oriented hedge fund based in Charlottesville, Virginia. In this short interview, Jeff talks about his experience of attending the executive MBA programme in Oxford, leading to him staying to teach a valuation course to graduates. Other topics include gaining a behavioral edge in investing, and the advantages of a price to book strategy. Transcript is available here: https://aqfd.docsend.com/view/zts7etxhxifcwp86
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5 snips
Feb 9, 2023 • 1h 7min

Sachin Khajuria on His Book, Private Equity, Distressed Investing and Multicultural Backgrounds

Sachin Khajuria is an investor and the author of the book “Two and Twenty: How the Masters of Private Equity Always Win”. He holds two degrees in Economics from the University of Cambridge.Sachin talks to Guy Spier about his education, career, and the characteristics and future of the private equity world. He also touches on topics such as distressed investing, fee structures, and the importance of a multicultural background.Full transcript available here: https://aqfd.docsend.com/view/m7jv4zsqpfv47nue Contents:(00:00:00) A Career in Private Equity(00:08:11) Elite Education vs. Learning by Doing(00:15:40) How Can Low and High Fee Structures Coexist?(00:24:50) Winner Takes All Structures(00:32:20) On the Inside of the Deals(00:45:12) Distressed Investing: Both Sides of the Coin(00:58:16) Advantages of a Multicultural Identity
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Dec 9, 2022 • 2h 4min

Michael McCloskey - His journey to become a value investor, Visa and the whole credit cards industry

Michael McCloskey is the founder and president of GreensKeeper Asset Management. He is one of those rare-to-find people who has a flair for both numbers and writing. In fact, he has a BSc in mathematics, as well as both a JD and an MBA degree. Michael has worked as an investment banker and has a lot of experience in the securities industry. Today, he lives in Mississauga, Canada with his wife and two daughters.Michael McCloskey talks to Guy Spier about how he became a value investor and the principles he learned from Buffett and Munger along the way, such as sharing wisdom. He speaks fondly about family values and teaching, mentioning his alumni at GreensKeeper with particular joy. Michael then takes the listener through the research report on Visa he recently produced, while giving an insight into the whole credit cards and payment networks industry. Finally, he reflects upon his days of studying mathematics, as well as on the topic of writing books.Full transcript available here: https://aqfd.docsend.com/view/zbmpr7ckcys75i2k Contents:Who is Michael McCloskey? (00:00:00)The Connection to Berkshire Hathaway (00:05:29)Importance of Family (00:14:54)The GreensKeeper Alumni (00:24:49)A Research Report on Visa (00:30:52)Risks in the World of Payment Networks (00:45:18)Buy Now Pay Later Plans (01:08:55)A Detour About AmEx and Mastercard (01:22:38)What is Inspiring About Mathematics? (01:36:52)The Art of Writing Books (01:44:45)
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Nov 18, 2022 • 1h 42min

Milo Jones - Intelligence Failures, OODA-Loops, the Influence of Digital Tech on Society and the War

Milo Jones is political scientist, a business school professor focusing on intelligence analysis and geopolitics, and has served as an officer in the US Marine Corps. He is currently based in Warsaw, Poland, but he spends plenty of time travelling around the world. Milo is also the author of the book Constructing Cassandra: Reframing Intelligence Failure at the CIA, 1947-2001. He talks to Guy Spier about the conclusions of his book, insights for investors from the intelligence community and the concept of OODA loops. Milo Jones also explains the idea of how “the digital retrieves the medieval” and discusses possible outcomes of the war in Ukraine.  Full transcript available here: https://aqfd.docsend.com/view/2ixfuarfgxp6z2y4 Contents:(00:00:00) From the Upper East Side to the US Marine Corps(00:07:44) The Reason Behind Intelligence Failures(00:16:59) Insights for Investors from the Intelligence Community(00:22:12) OODA Loops(00:32:29) Structured Analytic Techniques(00:48:44) When the Narrative Takes Over(00:56:34) “The Digital Retrieves the Medieval”(01:11:13) What Can the West Do About Russia?
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Sep 30, 2022 • 1h 24min

John Zolidis - About what made him found his company, the retail sector and physical stores vs Amazon

John Zolidis is an equity analyst and a registered investment advisor, President, and Founder of Quo Vadis Capital Inc. He talks to Guy Spier about what made him found his own company, about the retail sector, and the battle between physical stores and Amazon. John also shares why he is fascinated with the Chinese market, as well as gives some insight into a company he has been following. Full transcript available here: https://aqfd.docsend.com/view/mx8ghkc4wihjuwu5 Contents:(00:00:00) Introduction (00:07:55) Life in Southampton, New York(00:11:22) The Flaws of Sell-Side Research(00:25:29) About the Retail Sector(00:30:17) Difficulties in Apparel Retail(00:47:21) Physical Stores vs. Amazon (00:58:54) The French Luxury Sector and Big Surface Stores (01:06:00) Investing in China: How to Minimize the Risks? (01:17:33) Transition Between Research and Investment Management
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Aug 18, 2022 • 47min

Günther Dobrauz – Regulatory law in Switzerland, Blockchain technology and circular economy

Guenther Dobrauz is a half-Swiss, half-Austrian lawyer, Leader of PwC Legal Switzerland, and a member of PwC’s Global Legal Leadership Team. In the past he has co-run one of the first Swiss venture funds. He is also the author of 10 books.He talks to Guy Spier about regulatory law in Switzerland, his work at PwC, and his Austrian origins. Blockchain technology and circular economy are two of the main topics, being the focus of Exelixis Capital, an investment entity co-founded by Guenther Dobrauz, Sebastian von Doering and Michael Dieckell.Full transcript available here: https://aqfd.docsend.com/view/t3awk5yugdv8i7hb Contents:(00:00) Thinking Outside of the Box (09:08) About PwC (13:30) The Austrian Origins of Guenther Dobrauz (18:19) Blockchain Technology and Cryptocurrencies (23:36) The Founding of Exelixis Capital (30:14) How to Choose the Right Opportunities? (35:34) Books, Vinyl Records and Custom Motorcycles (41:38) Lessons for Professional Success 

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