Investing Unscripted

Jason and Jeff welcome Alex Morris, a second-time guest and author of 'Buffett and Munger Unscripted.' The trio discusses the significance of Berkshire Hathaway meetings and the making of Alex's book. They delve into Warren Buffett's and Charlie Munger's investment philosophies, the evolution of their strategies, and how individual investors might apply these lessons. 01:03 Introducing the Guest: Alex Morris02:05 Discussing Alex's Book: Buffett and Munger Unscripted06:07 Insights on Berkshire Hathaway and Investing09:52 Buffett and Munger's Investment Philosophy14:29 Personal Reflections on Investing20:15 The Future of Berkshire Hathaway23:21 The Challenge of Excess Cash24:37 Buffett's Cash Philosophy25:33 Future of Berkshire's Capital Allocation36:23 The Influence of Buffett and MungerCompanies mentioned: AAPL, BRK.B, KO, MRKL*****************************************Join our PatreonSubscribe to our portfolio on Savvy Trader *****************************************Email: investingunscripted@gmail.comTwitter: @InvestingPodCheck out our YouTube channel for more content: ******************************************To get 15% off any paid plan at finchat.io, visit https://finchat.io/unscripted******************************************Listen to the Chit Chat Stocks Podcast for discussions on stocks, financial markets, super investors, and more. Follow the show on Spotify, Apple Podcasts, or YouTube******************************************2025 Portfolio Contest2024 Portfolio Contest2023 Portfolio Contest

Jason and Tyler discuss market efficiency, referencing Cliff Assnes's paper on the 'Less Efficient Market Hypothesis.' They explore value investing, the influence of social media on market behavior, and strategies for individual investors. The hosts emphasize the importance of exploring under-the-radar stocks and maintaining a mix of index funds and individual picks, advocating for thoughtful, long-term investment strategies.01:03 Discussing the Previous Episode: Finding an Edge01:29 The Less Efficient Market Hypothesis08:06 Efficient Market Theory Explained13:05 Growth vs. Value Investing19:47 The Influence of Social Media on Investing27:08 Misfit Alpha and Investing StrategiesLink to Cliff Asness' report: https://www.aqr.com/Insights/Perspectives/The-Less-Efficient-Market-Hypothesis *****************************************Check out Tyler's Misfit Alpha at https://www.misfitalpha.com/unscripted Follow Tyler on BlueSky: https://bsky.app/profile/misfit-alpha.bsky.socialJoin our PatreonSubscribe to our portfolio on Savvy Trader *****************************************Email: investingunscripted@gmail.comTwitter: @InvestingPodCheck out our YouTube channel for more content: ******************************************To get 15% off any paid plan at fiscal.ai, visit https://fiscal.ai/unscripted******************************************Listen to the Chit Chat Stocks Podcast for discussions on stocks, financial markets, super investors, and more. Follow the show on Spotify, Apple Podcasts, or YouTube******************************************2025 Portfolio Contest2024 Portfolio Contest2023 Portfolio Contest

Jason and Jeff chat with Todd Wenning, founder of KNA Capital and creator of the Flyover Stocks newsletter. They discuss Todd's origin story in investing, the importance of management and company culture in evaluating investments, and how durable competitive advantages play a role. The conversation also explores the current economic landscape, strategies for navigating market volatility, and offers advice for retail investors. 00:51 Introducing the Guest: Todd Wenning02:21 Todd's Origin Story in Investing05:00 The Birth of Flyover Stocks05:17 The Importance of Writing in Investing11:01 Evaluating Companies: Management and Moats15:02 Navigating Uncertain Times21:29 Economic Moats and Competitive Advantages26:15 Understanding Pricing Power and Market Positioning26:41 Case Study: Admiral Group's Cost Obsession27:51 Cost Advantage vs. Differentiation29:51 Flyover Stocks and Advisory Services32:49 Balancing Long-Term Investments with Short-Term Challenges37:53 The Importance of Communication in Investment Advisory44:14 Lightning Round: Best and Worst Investments46:36 Retail Investors: Patience and Sentiment Analysis49:11 Final Thoughts and Advice for Retail InvestorsCompanies mentioned: AMZN, EBAY, GO, KO, META, OAK.B, ORLY, TTDCheck out Flyover Stocks: https://www.flyoverstocks.com/Check out KNA Capital: https://www.kna-capital.com/*****************************************Join our PatreonSubscribe to our portfolio on Savvy Trader *****************************************Email: investingunscripted@gmail.comTwitter: @InvestingPodCheck out our YouTube channel for more content: ******************************************To get 15% off any paid plan at finchat.io, visit https://fiscal.ai/unscripted******************************************Listen to the Chit Chat Stocks Podcast for discussions on stocks, financial markets, super investors, and more. Follow the show on Spotify, Apple Podcasts, or YouTube******************************************2025 Portfolio Contest2024 Portfolio Contest2023 Portfolio Contest

It’s the June First Fridays (on the second Friday) and we discuss the economic impact of recent global events, ethical considerations in investing, the potential implications of tariffs, and interact with our live audience. Subscribe to our Patreon to get notified of the next livestrem.02:16 Discussing Recent News Events04:17 Ethics in Investing13:15 Community Shoutouts and Comments18:45 Market Predictions and Strategies31:24 Market Predictions and Company Resilience33:27 Tobacco Stocks and Moral Dilemmas34:53 Savvy Trader Picks and Apology39:40 TransMedics: Revolutionizing Organ Transplants44:27 Tesla RoboTaxi Speculations53:27 Public Portfolio Contest Update58:36 Earnings Season Surprises*****************************************Join our PatreonSubscribe to our portfolio on Savvy Trader *****************************************Email: investingunscripted@gmail.comTwitter: @InvestingPodCheck out our YouTube channel for more content: ******************************************To get 15% off any paid plan at finchat.io, visit https://finchat.io/unscripted******************************************Listen to the Chit Chat Stocks Podcast for discussions on stocks, financial markets, super investors, and more. Follow the show on Spotify, Apple Podcasts, or YouTube******************************************2025 Portfolio Contest2024 Portfolio Contest2023 Portfolio Contest

Jason and Jeff delve into the volatile market landscape of 2025. They discuss the implications of tariffs, inflation, and their personal investment strategies during turbulent times.02:29 Market Trends and Personal Portfolio Insights07:26 Tariffs and Their Impact on the Market17:28 Investor Strategies and Market Reactions24:54 Reflecting on Market Timing and Cash Management25:48 Changing Investment Strategies Over Time26:21 Challenges of Building Cash Reserves26:29 Debating Cash Deployment Systems27:19 Market Volatility and Investment Decisions29:13 Balancing Cash and Stock Investments31:42 Inflation and Market Reactions39:25 Concerns Over Government Debt and Bond YieldsCompanies mentioned: ASML, BBB, BEP, FSLR, KNSL, LOB, WD, WRBY*****************************************Join our PatreonSubscribe to our portfolio on Savvy Trader *****************************************Email: investingunscripted@gmail.comTwitter: @InvestingPodCheck out our YouTube channel for more content: ******************************************To get 15% off any paid plan at finchat.io, visit https://finchat.io/unscripted******************************************Listen to the Chit Chat Stocks Podcast for discussions on stocks, financial markets, super investors, and more. Follow the show on Spotify, Apple Podcasts, or YouTube******************************************2025 Portfolio Contest2024 Portfolio Contest2023 Portfolio Contest

Is it getting harder to find an edge as an investor? Jason and Jeff discuss the increasing availability of financial education and whether this shift impacts the traditional edge held by long-term investors. 01:31 Today's Topic: Finding an Edge in Investing01:47 Ben Carlson's Insights on Smart and Dumb Money05:01 Defining Smart Money vs. Dumb Money05:53 Retail Investors and Market Dynamics06:59 Personal Investment Strategies and Market Reactions14:09 Economic Stimulus and Market Recovery18:46 Set It and Forget It Investors20:04 The Struggles of Early Retirement Planning21:50 The Evolution of Financial Advice22:58 The Impact of Automation on 401k Contributions25:22 Debating Retail Investors' Behavior26:10 The Role of Financial Education27:51 Long-Term Investing Strategies31:57 The Future of Retail InvestingCompanies mentioned: NVDA*****************************************Join our PatreonSubscribe to our portfolio on Savvy Trader *****************************************Email: investingunscripted@gmail.comTwitter: @InvestingPodCheck out our YouTube channel for more content: ******************************************To get 15% off any paid plan at finchat.io, visit https://finchat.io/unscripted******************************************Listen to the Chit Chat Stocks Podcast for discussions on stocks, financial markets, super investors, and more. Follow the show on Spotify, Apple Podcasts, or YouTube******************************************2025 Portfolio Contest2024 Portfolio Contest2023 Portfolio Contest

Jason and Jeff dive into the mailbag to answer listener questions. They compare Google to America, discuss the potential long-term impacts of extreme US political moves on the stock market, evaluate the risks and rewards of investing in Enphase Energy amidst recent legislative changes, and more. 01:43 Addressing Criticisms and Mailbag Introduction02:28 Comparing Google and America03:49 Political Parallels and Alphabet's Strengths06:41 The Future of Alphabet and AI11:02 Antitrust and Alphabet's Potential Breakup14:42 Hypothetical Scenarios and Market Stability20:03 Historical Context and International Relations27:15 Global Perspectives on American Capital29:53 Debate on Endphase and Solar Industry38:58 International Expansion of Enphase44:18 Savvy Trader Portfolio Performance45:42 Overrated and Underrated StocksCompanies mentioned: AAPL, ANET, CEG, CPNG, ENPH, GOOGL, MELI, MSFT, MTH, NVDA*****************************************Join our PatreonSubscribe to our portfolio on Savvy Trader *****************************************Email: investingunscripted@gmail.comTwitter: @InvestingPodCheck out our YouTube channel for more content: ******************************************To get 15% off any paid plan at finchat.io, visit https://finchat.io/unscripted******************************************Listen to the Chit Chat Stocks Podcast for discussions on stocks, financial markets, super investors, and more. Follow the show on Spotify, Apple Podcasts, or YouTube******************************************2025 Portfolio Contest2024 Portfolio Contest2023 Portfolio Contest

Jason and Jeff announce the launch of their Patreon page to build a dedicated community for their listeners. The episode covers the motivations behind the move, benefits for subscribers, including access to a Discord community, exclusive content, and the importance of having a network of like-minded investors. They also discuss their journey in the investing community and how it has shaped their investing philosophies.00:48 Exciting Announcement: Launching on Patreon04:52 Patreon Tiers and Benefits07:20 Savvy Trader Portfolio and Charity Commitment13:29 Building an Investment Community18:37 Curated Community Experience19:40 The Importance of Community in Investing23:51 Building a Supportive Investing Network26:32 Learning from Investing Mistakes29:19 The Value of Constructive Criticism*****************************************Join our Patreon!Subscribe to our portfolio on Savvy Trader *****************************************Email: investingunscripted@gmail.comTwitter: @InvestingPodCheck out our YouTube channel for more content: ******************************************To get 15% off any paid plan at finchat.io, visit https://finchat.io/unscripted******************************************Listen to the Chit Chat Stocks Podcast for discussions on stocks, financial markets, super investors, and more. Follow the show on Spotify, Apple Podcasts, or YouTube******************************************2025 Portfolio Contest2024 Portfolio Contest2023 Portfolio Contest

ason and Jeff challenge well-known investing advice to determine if it fits every individual circumstance. They discuss personal experiences and observations on topics such as when to hold cash, the relevance of Warren Buffett's advice for average investors, the importance of investing within one's circle of competence, and the nuances of managing risk and debt. 01:35 Reflecting on the Omaha Trip03:08 When Good Advice is Bad04:13 Debunking Common Investment Myths15:00 The Debate on Cash Holdings22:36 Expanding Your Circle of Competence30:11 Learning the Market: Early 2020 Experiences30:44 Understanding Market Basics33:22 The Importance of Risk Management34:33 Personal Experiences with Financial Advisors39:30 Debunking Common Financial Advice42:20 The Role of Debt in Personal Finance47:39 Contrarian Thinking in Investing*****************************************Subscribe to our portfolio on Savvy Trader. Use our discount code for 25% off for the month of May: UNSCRIPTEDMAY*****************************************Email: investingunscripted@gmail.comTwitter: @InvestingPodCheck out our YouTube channel for more content: ******************************************To get 15% off any paid plan at finchat.io, visit https://finchat.io/unscripted******************************************Listen to the Chit Chat Stocks Podcast for discussions on stocks, financial markets, super investors, and more. Follow the show on Spotify, Apple Podcasts, or YouTube******************************************2025 Portfolio Contest2024 Portfolio Contest2023 Portfolio Contest

This Month’s livestream was live from Omaha, as Jason, Jeff, and Tyler had just returned from the Berkshire Hathaway annual meeting. They discuss the future of Berkshire, especially after the announcement that Warren Buffett will be stepping down as CEO at the end of the year.00:17 Live from Omaha: Setting the Scene00:54 Big News: Warren Buffett's Retirement Announcement02:57 Reactions and Speculations on Buffett's Retirement06:52 Succession Planning and Future Challenges13:59 Stock Market Reactions and Predictions18:37 Berkshire Hathaway Annual Meeting Experience25:56 Tesla and Corporate Governance Discussion32:51 Bill Ackman's Pitch for Howard Hughes Holdings34:24 Challenges of Replicating Berkshire Hathaway37:57 Berkshire Hathaway's Unique Business Model41:13 Berkshire Hathaway and Brookfield's Future in Energy Infrastructure48:51 Reflections on the Berkshire Hathaway Annual Meeting52:13 Portfolio Contest and Market Observations*****************************************Subscribe to our portfolio on Savvy Trader *****************************************Email: investingunscripted@gmail.comTwitter: @InvestingPodCheck out our YouTube channel for more content: ******************************************To get 15% off any paid plan at finchat.io, visit https://finchat.io/unscripted******************************************Listen to the Chit Chat Stocks Podcast for discussions on stocks, financial markets, super investors, and more. Follow the show on Spotify, Apple Podcasts, or YouTube******************************************2025 Portfolio Contest2024 Portfolio Contest2023 Portfolio Contest