Talking Billions with Bogumil Baranowski

Evan Tindell brings together a wide range of life, professional, and academic knowledge and experience. His poker player career, MIT degree, and years at an investment firm shaped him to become a successful value investor. Our talk focuses on the years of the pandemic crisis markets. It was a time of major extreme, where many saw the stock market as the biggest casino in the world, while investors like Evan stayed disciplined and rode the waves, seizing opportunities and avoiding the worst risks. Evan is a Co-founder and Chief Investment Officer of Bireme Capital. He develops firm-wide investment strategy and performs both bottom-up research and portfolio management for the flagship Fundamental Value strategy. ​ ​Evan worked for 7 years at Ballentine Capital, where he was the lead equity analyst at the value-oriented long/short equity fund. Prior to that he spent 3 years as a professional poker player, where his successes included a 10th place finish at a European Poker Tour event.   He graduated in 2007 with a BS in Mechanical Engineering from MIT, where he was a four time All-American in tennis. We talked about: Evan’s childhood and upbringing and how they influenced his relationship with money and career path. Evan’s pandemic era essays: "Investing through the pandemic, letters from Bireme Capital." We discussed the difference between going long and short in investing and the reasons for doing both. Evan talked about the importance of discipline during stormy times in the market. We explored how Evan and his firm operates with a high level of uncertainty in investing. Evan's interest in booms and busts of the past was highlighted, particularly in relation to 2020/2021. We discuss the concept of a barbell market, with speculative stocks on one end and proven businesses on the other We examine inflation and its impact on investing, including its potential to pop the "everything bubble." Evan shared with me his selling strategy.   https://www.biremecapital.com/blog ---- ⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠ - My new book. To get regular updates and bonus content, please sign-up for my substack: https://bogumilbaranowski.substack.com/ Follow me on Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ NEVER INVESTMENT ADVICE.

Scott Phillips is a Principal and Chief Investment Officer at Templeton and Phillips Capital Management, LLC. Prior to Templeton and Phillips, Scott operated Cumberland Capital, a firm providing equity research to global and emerging market hedge funds. Before Cumberland, Scott worked as a research analyst at hedge fund management company Green Cay Asset Management, and prior to Green Cay, he was a research associate at SunTrust Robinson Humphrey. Scott’s other professional activities include serving on the Investment Advisory Sub-Committee and the Finance Committee for the John Templeton Foundation, as well as the Audit Committee and Chair of the Board of Trustees for the Templeton Foundation, Inc. Scott is the author or coauthor of three investment books, including Investing the Templeton Way (McGraw Hill, 2008), Buying at the Point of Maximum Pessimism, and coauthor to the revised edition of The Templeton Touch. Scott received his B.A. from Sewanee: The University of the South. Scott shared his experience of spending time with Sir John Templeton and his first conversation with him. We discussed the concept of maximum pessimism and how it helps in investing, which aligns with Sicart Associates' contrarian approach. Scott emphasized the importance of thrift, frugality, and saving in the value investing mindset, as mentioned in his book "Investing the Templeton Way." We explored Sir John's exit strategy and how he timed his sales to avoid market overheating and bubbles bursting. Scott shared his thoughts on the ideal environment for cultivating the right investor traits. We discussed Sir John's perspective on success, focusing on how his clients' ability to send their children to school or plan for retirement was a measure of his own success, and Scott shared his similar viewpoint. Scott discussed working with his spouse, Lauren, and how they collaborate and invest together, acknowledging that successful duos in the investment profession, especially spouses, are relatively rare. We delved into Sir John's use of history in his investing pursuits and how it helped him be more prepared and less surprised when history repeated itself. The sense of adventure and global travel in Sir John's life was highlighted, from his travels in Europe before WW2 to his global investments. We explored the evolution of an investor's approach, drawing parallels between Sir John Templeton and Warren Buffett, and Scott shared his own continuous evolution as an investor. Scott reflected on the influence of Sir John in his and Lauren's careers and how they emulate his philosophy while also incorporating their unique approach. https://www.templetonandphillips.com/ ---- ⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠ - My new book. To get regular updates and bonus content, please sign-up for my substack: ⁠https://bogumilbaranowski.substack.com/⁠ Follow me on Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠⁠⁠⁠⁠ Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ NEVER INVESTMENT ADVICE.

Eugene Ng is a Singapore-based investor, the Founder and Chief Investment Officer of Vision Capital & Vision Capital Ventures. He is also an author of the Amazon best selling book, "Vision Investing: How We Beat Wall Street & You Can, Too!". He also teaches investing once a year to educate new investors, and to give back. Vision Capital invests only in publicly traded companies that reflect the best vision for our future, changing & shaping the world for the better. Born and raised in Singapore, Eugene studied economics and finance where he received his Summa Cum Laude from the Singapore Management University in 2008. Eugene is also a keen sportsman and he represented the Singapore National Team in Water Polo in the 2007 Southeast Asian Games, winning their 22nd consecutive Team Gold. Eugene’s career in Finance spans over 11 years. His career started in 2008, joining Citi as a Management Associate for 3 years. Subsequently, he was with J.P. Morgan providing FX and Interest Rates sales & advisory for corporates for over 8 years, where he was a Vice-President. Eugene and I recorded the episode before Buffett’s Berkshire Meeting in Omaha, I had the pleasure to seeing him in person at the event, and talking more. His passion for investing, and his curiosity beams through in this recording as much as it did when we met. Today, Eugene shares with us stories from his childhood and young adulthood. We go on a rollercoaster ride from growing up with no money, and a parent with a gambling addiction to a near-death experience, to discovering his ikigai, his true reason for being. We discuss stock investing, and how it can be a path to wealth. We discover how long-term investing works best. Eugene shares his thoughts on the futility of market timing. We learn about various types of companies he likes, and why it pays to never sell entirely your position. You’ll find a lesser-known story about Steve Jobs towards the end of the episode, too. Please help me welcome, Eugene Ng. Vision Capital - https://visioncapital.group Vision Capital Ventures - https://visioncapital.group/vision-capital-ventures Vision Investing (Book) - bit.ly/visioninvest Twitter - https://twitter.com/EugeneNg_VCap LinkedIn - https://sg.linkedin.com/in/eugene-ng-visioncapital Substack - https://visioninvesting.substack.com/ ---- ⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠ - My new book. To get regular updates and bonus content, please sign-up for my substack: ⁠https://bogumilbaranowski.substack.com/⁠ Follow me on Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠⁠⁠⁠ Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Talking Billions⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Read ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Money, Life, Family⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - the book. NEVER INVESTMENT ADVICE.

Ted Oakley is the Managing Partner and Founder of Oxbow Advisors.  With more than forty years of experience in advising high net worth clients in the investment industry, He is a frequent guest on FOX Business News, Bloomberg Radio, Cheddar TV, Yahoo Finance, and many more. Mr. Oakley is a Chartered Financial Analyst (CFA) and a Certified Financial Planner (CFP).  He is a member of the Austin Society of Financial Analysts.  He is also a Partner of Herndon Plant Oakley Ltd., an investment company. He is a Board Member of Texas State Aquarium, American Bank, and American Bank Holding Company. Mr. Oakley is a United States Army Veteran. Mr. Oakley began his career in Dallas, Texas, over 35 years ago. He is the author of nine books on family wealth, staying rich, money mentality, and more. Links are in the notes. Mr. Oakley’s primary philanthropic interest is helping children. A good friend based in Asia introduced me to Ted’s son Keys who was kind enough to help set up this recording. My friend is both an inheritor and wealth creator himself, and curious about the topics we discuss today, I soon discovered that Ted had interviewed my dear friend Jay Hughes, an advisor to wealthy families, and author, who was an early guest on my show. Today, Ted and I will discuss the peculiar challenges and opportunities associated with staying rich. We are reminded that any fortune that can be made, can be lost. We talk about the importance of keeping family stories alive. Ted points out how there are over a million people in the US with a net worth of $10-$15 million, yet they drop out from this group regularly. We investigate the reasons. It’s music to my ears when Ted emphasizes the need to have liquidity, idle cash on the side. We end with the topic of the next generation. Ted was a real delight to talk to; we found many overlaps with how we think at Sicart Associates. I also learned a lot, I hope you do too. Please help me welcome – Ted Oakley. www.oxbowadvisors.com https://oxbowadvisors.com/books/ ---- ⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠ - My new book. To get regular updates and bonus content, please sign-up for my substack: ⁠https://bogumilbaranowski.substack.com/⁠ Follow me on Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠⁠⁠⁠ Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Talking Billions⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Read ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Money, Life, Family⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - the book. NEVER INVESTMENT ADVICE.

Nicki has an extensive experience in media, a degree in radio-television-film, and a passion for history. For four years, she worked on multiple History Channel documentaries and was a research consultant for USA's Mr. Robot. In her history podcast As The Money Burns, Nicki reconstructs the Great Depression through the lives of actual heirs and heiresses. She brings back to life the tales of the rich living through the Great Depression. She sets the stage by telling us about the summer before the 1929 crash. We learn about a number of young heirs and heiresses and the lives they live. There was so much that changed at the time, the newspapers started to follow the stories of the wealthy, and they were losing their anonymity. Taxation was on the rise, so were fraud, Ponzi schemes, and more. We hear about bank runs and how no matter how rich ones are, it's not hard, and maybe extremely easy, to lose it all.   The stories we hear are almost a hundred years old, they are as relevant today as they were then.  Only this week, I took a call from someone who's been reading my articles. His family tale is set between two continents and resembles so many of the stories we'll hear today talking with Nicki.   Someone once reminded me that it's not easy, but it's cheaper to learn from the mistakes of others.   Let's go back to the Roaring 20s and the Great Depression Era with my guest - Nicki Woodard.  https://asthemoneyburns.com/ TW / IG – @asthemoneyburns Facebook – https://www.facebook.com/asthemoneyburns/ ---- ⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠ - My new book. To get regular updates and bonus content, please sign-up for my substack: ⁠https://bogumilbaranowski.substack.com/⁠ Follow me on Twitter: ⁠⁠⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠⁠⁠ Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Talking Billions⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Read ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Money, Life, Family⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - the book. NEVER INVESTMENT ADVICE.

Let's get to NUMBER #1 together! Kindle at $0.99, Already TOP #2 in Finance & Wealth Management, TOP #3 in Stock Market Investing & Investing in Amazon Hot New Releases. Get your copy today! ⁠⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - My new book. Crisis Investing: An Apple, A Plague, and A Bubble Another sample essay for you to enjoy. “In the midst of every crisis lies great opportunity” – Albert Einstein This book is a chronological collection of 100 essays written over three years during the Global COVID Pandemic, with an added retrospective commentary. It is a treasure trove of everlasting investment principles shared through lessons, experiences, and memories from managing family fortunes through one of the most challenging periods for the economy and the stock market. As the author picked up his laptop and embarked on a personal journey, these essays were written in a midtown Manhattan high-rise office, two remote cabins in the woods, and the tropics, among other places. His perspective changed, while current events offered ample inspiration to write. "I highly recommend that anyone serious about long-term investing should not only add this book to their library but also include Bogumil in their investment ecosystem." - Guy Spier, a Zurich-based investor, the Author of The Education of a Value Investor, the manager of the Aquamarine Fund "Bogumil Baranowski's book, Crisis Investing, presents an insightful chronicle of the various challenges that investors faced during the pandemic era. With a wealth of experience as an investment advisor, Baranowski's collection of personal essays provides readers with invaluable lessons and advice on navigating markets and building wealth." - Lauren Templeton, Founder & Principal of Templeton & Philips Capital Management, LLC, the author with Scott Philipps of Investing the Templeton Way "For me, the years covered in your book have been a good test of core investment principles, especially being patient. Your book is a collection of wise observations made in real-time during those years and yet are timeless, as the best investment principles should be!" - Christopher Mayer, the Author of 100 Baggers: Stocks That Return 100-to-1 and How To Find Them “A valuable compilation which helps build the required mental & emotional resilience for the highly volatile world investors operate in.” - Gautam Baid, the Author of The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Managing Partner, Stellar Wealth Partners India Fund "Since I met him, I've been thoroughly impressed with Bogumil in many ways: His knowledge, passion for life and investing, preparation level, and thoughtfulness in every interaction and question he asks. For these reasons and many more, he's the perfect person to write the book on how to invest through a crisis, generally and specifically through the one we just lived through with the Covid pandemic." - Brad Barrett, Co-founder and Host of the ChooseFI Podcast "I believe in Bogumil, and I can say that he’s one of the good guys in the finance space." - John Soforic, the Author of The Wealthy Gardener: Lessons on Prosperity ---- NEVER INVESTMENT ADVICE.

Let's get to NUMBER #1 together! Kindle at $0.99, Already TOP #2 in Finance & Wealth Management, TOP #3 in Stock Market Investing & Investing in Amazon Hot New Releases. Get your copy today! ⁠⁠⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - My new book. Crisis Investing: Infinite Investing: How do we win a game that has no end? Another sample essay for you to enjoy. “In the midst of every crisis lies great opportunity” – Albert Einstein This book is a chronological collection of 100 essays written over three years during the Global COVID Pandemic, with an added retrospective commentary. It is a treasure trove of everlasting investment principles shared through lessons, experiences, and memories from managing family fortunes through one of the most challenging periods for the economy and the stock market. As the author picked up his laptop and embarked on a personal journey, these essays were written in a midtown Manhattan high-rise office, two remote cabins in the woods, and the tropics, among other places. His perspective changed, while current events offered ample inspiration to write. "I highly recommend that anyone serious about long-term investing should not only add this book to their library but also include Bogumil in their investment ecosystem." - Guy Spier, a Zurich-based investor, the Author of The Education of a Value Investor, the manager of the Aquamarine Fund "Bogumil Baranowski's book, Crisis Investing, presents an insightful chronicle of the various challenges that investors faced during the pandemic era. With a wealth of experience as an investment advisor, Baranowski's collection of personal essays provides readers with invaluable lessons and advice on navigating markets and building wealth." - Lauren Templeton, Founder & Principal of Templeton & Philips Capital Management, LLC, the author with Scott Philipps of Investing the Templeton Way "For me, the years covered in your book have been a good test of core investment principles, especially being patient. Your book is a collection of wise observations made in real-time during those years and yet are timeless, as the best investment principles should be!" - Christopher Mayer, the Author of 100 Baggers: Stocks That Return 100-to-1 and How To Find Them "Since I met him, I've been thoroughly impressed with Bogumil in many ways: His knowledge, passion for life and investing, preparation level, and thoughtfulness in every interaction and question he asks. For these reasons and many more, he's the perfect person to write the book on how to invest through a crisis, generally and specifically through the one we just lived through with the Covid pandemic." - Brad Barrett, Co-founder and Host of the ChooseFI Podcast "I believe in Bogumil, and I can say that he’s one of the good guys in the finance space." - John Soforic, the Author of The Wealthy Gardener: Lessons on Prosperity ---- NEVER INVESTMENT ADVICE.

Let's get to NUMBER #1 together! Kindle at $0.99, Already TOP #2 in Finance & Wealth Management, TOP #3 in Stock Market Investing & Investing in Amazon Hot New Releases. Get your copy today! ⁠⁠⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - My new book. Another sample essay for you to enjoy. Crisis Investing: Investing in Times of Pandemic “In the midst of every crisis lies great opportunity” – Albert Einstein This book is a chronological collection of 100 essays written over three years during the Global COVID Pandemic, with an added retrospective commentary. It is a treasure trove of everlasting investment principles shared through lessons, experiences, and memories from managing family fortunes through one of the most challenging periods for the economy and the stock market. As the author picked up his laptop and embarked on a personal journey, these essays were written in a midtown Manhattan high-rise office, two remote cabins in the woods, and the tropics, among other places. His perspective changed, while current events offered ample inspiration to write. "I highly recommend that anyone serious about long-term investing should not only add this book to their library but also include Bogumil in their investment ecosystem." - Guy Spier, a Zurich-based investor, the Author of The Education of a Value Investor, the manager of the Aquamarine Fund "Bogumil Baranowski's book, Crisis Investing, presents an insightful chronicle of the various challenges that investors faced during the pandemic era. With a wealth of experience as an investment advisor, Baranowski's collection of personal essays provides readers with invaluable lessons and advice on navigating markets and building wealth." - Lauren Templeton, Founder & Principal of Templeton & Philips Capital Management, LLC, the author with Scott Philipps of Investing the Templeton Way "For me, the years covered in your book have been a good test of core investment principles, especially being patient. Your book is a collection of wise observations made in real-time during those years and yet are timeless, as the best investment principles should be!" - Christopher Mayer, the Author of 100 Baggers: Stocks That Return 100-to-1 and How To Find Them “A valuable compilation which helps build the required mental & emotional resilience for the highly volatile world investors operate in.” - Gautam Baid, the Author of The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Managing Partner, Stellar Wealth Partners India Fund "Since I met him, I've been thoroughly impressed with Bogumil in many ways: His knowledge, passion for life and investing, preparation level, and thoughtfulness in every interaction and question he asks. For these reasons and many more, he's the perfect person to write the book on how to invest through a crisis, generally and specifically through the one we just lived through with the Covid pandemic." - Brad Barrett, Co-founder and Host of the ChooseFI Podcast "I believe in Bogumil, and I can say that he’s one of the good guys in the finance space." - John Soforic, the Author of The Wealthy Gardener: Lessons on Prosperity ---- NEVER INVESTMENT ADVICE.

Let's get to NUMBER #1 together! Kindle at $0.99, Already TOP #2 in Finance & Wealth Management, TOP #3 in Stock Market Investing & Investing in Amazon Hot New Releases. Get your copy today! ⁠⁠⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - My new book. Another sample essay for you to enjoy. Crisis Investing: 100 Essays - In Search of Calm “In the midst of every crisis lies great opportunity” – Albert Einstein ⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠ - My new book. This book is a chronological collection of 100 essays written over three years during the Global COVID Pandemic, with an added retrospective commentary. ---- NEVER INVESTMENT ADVICE.

Let's get to NUMBER #1 together! Kindle at $0.99, Already TOP #2 in Finance & Wealth Management, TOP #3 in Stock Market Investing & Investing in Amazon Hot New Releases. Get your copy today! ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - My new book. Crisis Investing: 100 Essays - Introduction “In the midst of every crisis lies great opportunity” – Albert Einstein ⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠ - My new book. This book is a chronological collection of 100 essays written over three years during the Global COVID Pandemic, with an added retrospective commentary. It is a treasure trove of everlasting investment principles shared through lessons, experiences, and memories from managing family fortunes through one of the most challenging periods for the economy and the stock market. As the author picked up his laptop and embarked on a personal journey, these essays were written in a midtown Manhattan high-rise office, two remote cabins in the woods, and the tropics, among other places. His perspective changed, while current events offered ample inspiration to write."I highly recommend that anyone serious about long-term investing should not only add this book to their library but also include Bogumil in their investment ecosystem." - Guy Spier, a Zurich-based investor, the Author of The Education of a Value Investor, the manager of the Aquamarine Fund"Bogumil Baranowski's book, Crisis Investing, presents an insightful chronicle of the various challenges that investors faced during the pandemic era. With a wealth of experience as an investment advisor, Baranowski's collection of personal essays provides readers with invaluable lessons and advice on navigating markets and building wealth." - Lauren Templeton, Founder & Principal of Templeton & Philips Capital Management, LLC, the author with Scott Philipps of Investing the Templeton Way"For me, the years covered in your book have been a good test of core investment principles, especially being patient. Your book is a collection of wise observations made in real-time during those years and yet are timeless, as the best investment principles should be!" - Christopher Mayer, the Author of 100 Baggers: Stocks That Return 100-to-1 and How To Find Them“A valuable compilation which helps build the required mental & emotional resilience for the highly volatile world investors operate in.” - Gautam Baid, the Author of The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Managing Partner, Stellar Wealth Partners India Fund"Since I met him, I've been thoroughly impressed with Bogumil in many ways: His knowledge, passion for life and investing, preparation level, and thoughtfulness in every interaction and question he asks. For these reasons and many more, he's the perfect person to write the book on how to invest through a crisis, generally and specifically through the one we just lived through with the Covid pandemic." - Brad Barrett, Co-founder and Host of the ChooseFI Podcast"I believe in Bogumil, and I can say that he’s one of the good guys in the finance space." - John Soforic, the Author of The Wealthy Gardener: Lessons on Prosperity ---- NEVER INVESTMENT ADVICE.