We Study Billionaires - The Investor’s Podcast Network

Tavi Costa, a partner at Crescat Capital and a specialist in precious metals, discusses the emerging commodity supercycle. He believes we’re in the early stages of a bull market for gold and silver, driven by inflationary pressures. Tavi outlines four pillars of inflation pointing towards higher rates ahead and predicts a downturn in S&P 500 earnings. He emphasizes gold's historical resilience during economic shifts and reveals investment opportunities in Brazilian commodities, setting it apart from the other BRICS nations.

Tuur Demeester, a prominent Bitcoin economist known for his sharp insights, joins the discussion about Bitcoin's growing fees and the implications of inscriptions on L1 and L2 networks. They explore why there's urgency to update the Bitcoin codebase, and how these inscriptions might boost Layer 2 solutions. The conversation dives into future fee predictions, the seamless interplay between layers, and Tuur’s ongoing research, illuminating the evolving landscape of Bitcoin and its potential to adapt.

In this insightful discussion, legendary real estate investor Sam Zell shares his journey in pioneering the REIT industry and emphasizes the importance of market awareness. At 81, his relentless drive to succeed continues to inspire. Zell delves into the complexities of negotiating high-stakes sales, like his record-breaking $40 billion transaction with Blackstone. He also offers his perspective on current interest rates, advocating for further hikes, and highlights the crucial interplay between liquidity and value in investment decisions.

Warren Buffett, Chairman and CEO of Berkshire Hathaway, and Charlie Munger, its Vice Chairman, share their investment wisdom at the 2023 shareholders meeting. They discuss the shifting landscape of commercial real estate and the importance of adaptability for value investors. Insights include Buffett's capital allocation strategies, updated views on Taiwan Semiconductor, and the enduring strength of the US Dollar as a reserve currency. Munger emphasizes thoughtful position sizing while both provide timeless life advice, highlighting prudent investing for future generations.

Alex Gladstein, Chief Strategy Officer at the Human Rights Foundation and author of "Hidden Repression," dives into the complex interplay between the IMF, World Bank, and global economic disparities. He uncovers how these institutions often entrap nations in cycles of repression through debt. Gladstein also discusses Bitcoin's transformative potential, especially in the global South, highlighting its role as a refuge from traditional financial systems. With captivating stories and insights, he offers a compelling case for reevaluating current economic practices in favor of empowerment.

Mohnish Pabrai, a legendary investor and philanthropist, shares his fascinating investment framework. He discusses why the Turkish stock market is appealing and reveals his four-step method for analyzing annual reports. Pabrai dives into specific stocks like Alibaba and Constellation Software, sharing insights on their potential. He emphasizes the importance of maintaining objectivity and aligning executive incentives with shareholder interests. Throughout, he underscores the value of honesty in personal and professional relationships, creating a captivating discussion.

Discover two promising high-quality compounders: Topicus.com, a European software player, and Copart, a leader in online auction services. Explore the strategic insights from investing gurus, uncover Topicus's competitive edge stemming from its European operations, and learn about Copart's market dominance against rivals. Both companies exhibit strong fundamentals and insider ownership, while potential risks are thoughtfully assessed. Tune in for powerful lessons on compounding wealth and the dynamics of the investment landscape!

In this engaging discussion, Kevin Kelly, founding editor of Wired Magazine and author of noteworthy books, shares his profound insights on technology's evolution. He explains the concept of the 'technium' and its interdependencies. Kelly offers a compelling viewpoint on AI's role in biology and longevity, highlighting creativity amidst fears of technological change. He also discusses his visionary 10,000-year clock, urging listeners to think generationally and advocate for an optimistic future shaped by incremental progress.

Chris Bloomstran, a legendary investor from Semper Augustus with an impressive 11.5% CAGR, shares his profound insights on valuing Berkshire Hathaway. He delves into the intrinsic value of the conglomerate, discussing the misleading aspects of the price-to-book ratio. Bloomstran highlights the significant worth of Berkshire's insurance business compared to its energy and rail sectors. He also explains how maintenance capital expenditures relate to depreciation and where investors can safely park cash within Berkshire's diverse portfolio.

Delve into the wisdom of historical insights over speculative forecasts. Discover why traditional stock market predictions can mislead investors and how long-term strategies often yield better results. Explore the balance between conviction and adaptability in investing, while learning about opportunity costs and the importance of fundamental analysis. The episode also emphasizes the emotional journey of investing, highlighting the need for resilience and positive habits in achieving financial success.