Today we have Jason Buck & Chris Cole on why investors aren’t as diversified as they think they are, Dennis Lynch on his investment philosophy, and billionaire Jim Mellon on investing opportunistically.

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Investing

***Must Listen*** Top Traders Unplugged: 115 Protection Against Black Swans & Building a Bulletproof Portfolio with Jason Buck of Mutiny Fund. Buck believes the average investors aren’t as diversified as they think they are, and believes adding long volatility and CTA’s will help protect against ‘Black Swan,’ high-volatility events. He shares an overview of his ideal portfolio and how this approach can provide protection and profits during all market environments. This pairs really well with Meb’s episode with Chris Cole (described below). [June 1, 2021–1 hour, 17 minutes] iTunes Podcast | Spotify | Google | Breaker | Website Link

“The typical pie chart of diversification ends up being all long-GDP assets, which means these are going to do well in a risk-on environment, when we’re awash with liquidity.”

***Must-Listen*** The Price-to-Value Podcast with Southeastern Asset Management: Jonathon Jacobson and Staley Cates — 25 Years of Shared Values in Value Investing. Jacobson is the founder of HighSage Ventures and former CIO and Co-Founder of Highfields Capital, which he chose to close and return investors’ capital in 2018 amidst a backdrop of value being dramatically out of favor. He explains the thought process behind that decision and his philanthropic efforts around education. Then he looks back on his investment career and states his biggest mistake was selling winners too early and not letting them run. He also shares some broad market thoughts, covering active management, SPAC’s, shorting, retail mania, and potential for inflation, which he thinks is the biggest risk right now. [May 4, 2021–1 hour, 10 minutes] iTunes Podcast | Spotify | Google | Breaker | Website Link

Invest Like The Best: Dennis Lynch — Delivering Alpha in Adapting Markets. Lynch is the Head of Counterpoint Global, where he oversees more than $100bn in AUM. He covers his approach to investing and the ‘game’ he plays to achieve alpha, how poor misclassification of companies (either by factor or sector) creates opportunities, and how he’s evolved over his career (now focusing more on companies with high intangible assets). At the end, he touches on his interest in psychedelic research and opportunities around that idea. [June 1, 2021–1 hour, 11 minutes] iTunes Podcast | Spotify | Google | Breaker | Website Link

“So it’s hard not to get really focused on some of the short-term trends, but then it’s like any habit, if you practice it long enough, it’s sort of hard to shake it.”

Chat With Traders: 216: Jim Mellon — Becoming an Opportunistic, Billionaire Investor. Mellon is a long-time investment manager who, after becoming a millionaire in his twenties, has since invested in emerging markets, commercial real estate, and private and public companies. He walks through his professional journey, explains how he approaches success both in business and life, and shares how he’s been able to successfully invest across many unrelated sectors. [June 3, 2021–42 minutes] iTunes Podcast | Spotify | Google | Breaker | Website Link

“I’ve never met a successful person that hasn’t worked unreasonably hard.”

The Meb Faber Show

The Meb Faber Show: #316 — Dianne McKeever, Ides Capital — My Entire Career, I’ve Been A Value Investing Focused Shareholder Activist. Dianne McKeever is the co-founder and Chief Investment Officer of Ides Capital, which has been cited as the only woman-led activist fund. Dianne explains how she went from being a Berkshire fan to becoming an activist. She shares the ins and outs of the process, from sourcing names to engaging with management teams. Then she talks about how ESG fits into her activism campaigns, walks through some names in her book, and goes over her most successful campaign with Boingo. [May 31, 2021–1 hour, 25 minutes] iTunes Podcast | Spotify | Google | Breaker | Website Link

***Must Listen*** #317 — Chris Cole, Artemis Capital Management — You Want To Diversify Based On How Assets Perform In Different Market Regimes. Chris Cole is the founder and Chief Investment Officer of Artemis Capital Management, which aims to transform stock volatility into opportunities for clients. He covers the optimal portfolio to help you grow and protect your wealth for the next 100 years. He shares why recency bias has led investors to be poorly positioned for secular change, the issues with the 60/40 portfolio, and the five asset classes that he believes belong in your portfolio at all times. [June 1, 2021–1 hour, 21 minutes] iTunes Podcast | Spotify | Google | Breaker | Website Link

“When we enter into a period of secular change, the way that most people’s portfolio’s are constructed are setup for failure.”

The Rest

Michael Covel’s Trend Following: Ep. 976: Scott O’Neil Interview. Scott O’Neil is the CEO of the Philadelphia 76ers and New Jersey Devils and author of Be Where Your Feet Are, which shares his most valuable lessons in what keeps him present, grounded and thriving as a father, husband, coach, mentor, and leader. He walks through his journey, rising to become the CEO of Madison Square Garden and later being let go. Then he shares the story of joining the 76ers as the “Trust The Process” time period began, the growth of the organization since then, and lessons on building a great team. [May 30, 2021–47 minutes] iTunes Podcast | Spotify | Google | Breaker | Website Link

“There’s nothing linear about success.”

The Daily Stoic: Chris Bosh on Embracing the Process and Staying Present | This Cannot Be Allowed To Happen. Chris Bosh, former NBA all-star and NBA Champion and author of Letters to a Young Athlete, discusses his career and his growth as a player and man. He was forced to retire early due to health issues and shares what it was like to mentally handle that experience. He also shares why it’s importance to have a wide range of interests, what it was like to handle the 2011 NBA Finals loss, and how he handled the immense pressure and scrutiny that was placed on him and the Miami Heat. [June 2, 2021–1 hour, 18 minutes] iTunes Podcast | Spotify | Google | Breaker | Website Link

“Failure is not trying.”

Here to bring you podcast suggestions. Twitter → @colby__donovan