Pods & Recs: No. 172
Today we have Chamath on building Berkshire 2.0, a fun episode on ETF tickers, what it’s like to run a $1.3 trillion sovereign wealth fund, and an update on Bobby Bonilla and the Mets!
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We Study Billionaires — The Investor’s Podcast Network: TIP354: Building Berkshire 2.0 w/ Chamath Palihapitiya. Chamath is the founder and CEO of Social Capital, a conglomerate focused on solving climate change and inequality, which he has referred to as Berkshire Hathaway 2.0. Even if you don’t agree with the comparison (and saw Chris Bloomstran eviscerate him last week on Twitter), it’s a great listen. Chamath walks through the importance of having a mindset that embraces equity ownership to achieve wealth, something he learned early in life and with his contract negotiations with Mark Zuckerberg at Facebook. He also touches on addressing inequality and climate change, his process for analyzing companies to acquire via SPAC, and the lessons he’s learned from Warren Buffett. [June 19, 2021–56 minutes] iTunes Podcast | Spotify | Google | Breaker | Website Link
It’s getting everybody to the same starting line at the beginning and then firing the gun so that everybody can do the best they can.
Trillions: The ETF Ticker Premium. This fun episode dives into what goes into picking an ETF ticker, how to do so, how long they can be reserved, and more. They walk through some of their current favorite tickers, discuss why a great ticker gives the fund a boost, and then see what tickers are available, including $JPOW! [June 24, 2021–38 minutes] iTunes Podcast | Spotify | Google | Breaker | Website Link
The Money Maze Podcast: $1.3 Trillion — Norway’s Sovereign Wealth Fund: Nicolai Tangen, CEO, discusses their investment approach. Norway’s great wealth is due in large part courtesy of its oil riches, discovered in 1969. The Government chose to create a separate, segregated fund (not accessible by politicians) to serve Norway’s current and future citizens. Tangen now oversees that fund, which exceeds $1.3 trillion and walks through his experience doing so. He touches on the fund’s use of forensic analysis (which led them to exclude Wirecard), the lofty valuations around the ESG space, and how his team utilizes behavioral analysis insights to assess the risks of opportunities. [June 9, 2021–44 minutes] iTunes Podcast | Spotify | Google | Breaker | Website Link
Panic with Friends — Howard Lindzon: Jeff Richards of GGV Capital on Why He’s Bullish on Fintech and the Post-COVID Rebound. Jeff Richards is a managing partner at GGV Capital, a $9 billion global venture firm focusing on enterprise, cloud, and marketplace investments. Jeff shares what categories and trends around fintech he expects to stay as the world gets back to normal. He touches on infrastructure, the digital economy, crypto and e-commerce. [June 24, 2021–54 minutes] iTunes Podcast | Spotify | Google | Breaker | Website Link
Planet Money: Bobby Bonilla Day. Bobby Bonilla’s story is one of the worst deals in baseball history…for the Mets. When the Mets agreed to buy Bonilla out in 2000, they asked to defer the $5.9 million he was owed, and Bonilla negotiated that he be paid $1.2 million for 25 years starting in 2011. Steve Cohen, the new Mets owner, has tried to declare July 1 (when Bonilla is paid every year) as “Bobby Bonilla Day” and even asked Bonilla to go to the ballpark to celebrate. [June 25, 2021–22 minutes] iTunes Podcast | Spotify | Google | Breaker | Website Link
Superinvestors and The Art of Worldy Wisdom: Julian Brigden On The Fed’s ‘Impossible Trinity.’ Brigden is the Co-founder of Macro Intelligence 2 Partners, a global independent macroeconomic research firm, and the co-creator of Macro Insiders for Real Vision. After sharing his process for building models, he walks through his macro thoughts, including why he thinks the dollar could fall 45% from here. He shares why his analysis has changed over the years and now has a large focus on how the Fed impact is intertwined with the markets. [June 23, 2021–1 hour, 8 minutes] iTunes Podcast | Spotify | Google | Breaker | Website Link
The Meb Faber Show
The Meb Faber Show: #322 — Radio Show — Inflation or Deflation?…Foreign Stocks….Value and Momentum. This Radio Show covers how to prepare your portfolio for the possibility of both inflation and deflation, the recent strong performance of international stocks, and the value factor starting to get momentum. [June 21, 2021–44 minutes] iTunes Podcast | Spotify | Google | Breaker | Website Link
The Meb Faber Show:#323 — John Montgomery, Bridgeway Capital Management — A Factors-Based World View Resonated With Me. John Montgomery is the founder and Chief Investment Officer of Bridgeway Capital Management, a $5 billion quantitative manager that donates 50% of its profits to charity. He starts by sharing what made him leave a job in the Transit sector to start a quantitative investment firm. He walks through what drew him to a rules-based approach and then touches on different factors, including size, value, and low volatility. They also touch on Bridgeway’s ultra small cap strategy and how it captures the small-cap premium. At the end of the episode, John covers the firm’s unique structure, which includes donating half its profits to charity with the goal of ending genocide. [June 24, 2021–1 hour] iTunes Podcast | Spotify | Google | Breaker | Website Link