Pods & Recs: No. 184
Today we have a deep dive into the Evergrande saga, a must-listen interview with Anderson Cooper, and Goldman Sachs’ David Kostin with a market update.
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Investing
Odd Lots: Understanding Evergrande, the Chinese Real Estate Conglomerate That’s Nearing Collapse. The Evergrande real estate saga is front and center right now and this episode with Travis Lundy, an independent analyst based in Hong Kong, walks through the history of the company, how they got into the situation today, and what he expects the impact will be on other markets. He shares the businesses the company chose to get into outside of real estate (Evergrande bought a soccer team, started a health business, and started working on electric vehicles), how politically aligned the company is with the CCP, and the differences between how the real estate market operates in China compared to the U.S. [September 20, 2021–50 minutes] iTunes Podcast | Spotify | Google | Breaker | Website Link
The Prof G Pod with Scott Galloway: Perseverance, Family Wealth, and Building a Career On Air — with Anderson Cooper. CNN’s Anderson Cooper joins Galloway for a fascinating conversation about both his life and new book, Vanderbilt: The Rise and Fall of an American Dynasty. He starts with walking through his life and hard times he experienced, including the early death of his father and suicide of his brother in his early 20’s, and how becoming a father changed him. Then he shares some stories from researching the Vanderbilt family (he’s the Commodore’s great-great-great-grandson) and what family and money lessons we can all takeaway from the rise and fall of their dynasty. [September 23, 2021–61 minutes] iTunes Podcast | Spotify | Google | Breaker
The Sherman Show: S11 E8: Goldman Sachs’ David J. Kostin on Profit Margins, Duration and ESG. Kostin joins DoubleLine’s Jeffrey Sherman to discuss his outlook for the U.S. economy and markets. Kostin explains he expects a decelerating economy and a slight increase in rates by the end of the year, with the S&P 500 finishing ~4,700. He walks through his framework for predicting earnings next year, including the expectation of a corporate tax hike serving as a headwind. He also touches on the impact of SPACs, ESG and retail investors. [September 23, 2021–53 minutes] iTunes Podcast | Spotify | Google | Breaker | Website Link
The Meb Faber Show
#352 — James Rasteh, Coast Capital — The World Is Running Out Of Gold. James Rasteh is the founder of Coast Capital, a fund that takes a private equity approach to investing in public markets. The episode focuses on three topics: activist investing with gold miners, cheap European stocks, and the finance industry’s use of ESG as mainly a marketing exercise. [September 20, 2021–70 minutes] iTunes Podcast | Spotify | Google | Breaker | Website Link
#353 — Artem Milinchuk, FarmTogether — Everything Pointed Towards This Massive Democratization of Alternative Investing. Artem Mililchuk is the founder and CEO of FarmTogether, an investment platform providing accredited investors with direct access to farmland. Artem walks through the process of buying part of a farm through the FarmTogether platform. Then he talks about trends in the space, including the impact of inflation, climate change and sustainability. [September 22, 2021–63 minutes] iTunes Podcast | Spotify | Google | Breaker | Website Link
The Best Investment Writing Volume 5: Brian Barish, Cambiar Investors — The Virus Plaguing Value. Listen to Brian Barish read his piece, The Virus Plaguing Value. [September 24, 2021–22 minutes] iTunes Podcast | Spotify | Google | Breaker | Website Link
The Rest
The Daily Stoic: Coach Bob Bowman on Balancing Stillness and Excellence | You Have To Earn That Trust. Bowman is most well-known for coaching Michael Phelps during his entire career. He talks with Ryan Holiday about how he tried to help Michael and other swimmers maintain stillness and relaxation to perform at their peak, the importance of practice and preparation, and maintaining internal peace while striving for greatness. [September 22, 2021–71 minutes] iTunes Podcast | Spotify | Google | Breaker | Website Link
BOOK RECOMMENDATIONS
Hans Tung (Managing Partner at GGV Capital):
Hubert Joly (Former Chairman & CEO, Best Buy):
- The Heart of Business: Leadership Principles for the Next Era of Capitalism by Hubert Joly with Caroline Lambert
- From Higher Aims to Hired Hands: The Social Transformation of American Business Schools and the Unfulfilled Promise of Management as a Profession by Rakesh Khurana
- Man’s Search for Meaning by Viktor Frankl
- What Got You Here Won’t Get You There: How Successful People Become Even More Successful by Marshall Goldsmith
- Remote Work Revolution: Succeeding from Anywhere by Tsedal Neeley
- Aligned: Connecting Your True Self with the Leader You’re Meant to Be by Hortense le Gentil
