David Gardner returns to discuss his new book: Rule Breaker Investing: How to Pick the Best Stocks of the Future and Build Lasting Wealth. After decades of research, the book is a culmination of David's work in investing. This conversation should whet your appetite and help understand David's philosophy.

Takeaways

Investing requires a long-term mindset and patience.

Market volatility is a natural part of investing.

Concentration in a few strong positions can be beneficial.

Initial position sizing should be conservative, typically around 5%.

Avoid adding to losing positions; focus on winners.

Understanding the brand and leadership of a company is crucial.

Total addressable market can expand, leading to growth opportunities.

AI can enhance investment strategies and content creation.

Investing is about understanding the underlying business, not just stock prices.

Building a portfolio should reflect personal values and vision.

Other Episode

You can find David and Bill's first conversation at:

Apple: https://podcasts.apple.com/us/podcast/david-gardner-an-investing-fool/id1540847053?i=1000542928487

Spotify: https://open.spotify.com/episode/6QQaQXlOz4mvjFS425vkQs?si=VsXHLcseTneft5J0APQS_Q

Youtube: https://www.youtube.com/watch?v=VXijHth4OrU

Sponsorship Information

Thank you to Fiscal.ai for sponsoring the show. DISCOUNT INFO: If you use the affiliate link ⁠fiscal.ai/brew⁠, you will automatically get 2 weeks of Fiscal Pro for Free and if you find that you want to upgrade, my link will get you 15% off any paid plans. About Fiscal.ai

Fiscal.ai is the complete modern data terminal for global equities.

The Fiscal.ai platform combines a powerful user experience with all the financial data capabilities that professional investors need.

Users get up to 20 years of historical financials for all stocks globally that they can easily chart, compare, or export into their own models.

And unlike legacy data terminals where it can take hours or even days, Fiscal.ai’s data is updated within minutes of earnings reports.

Fiscal.ai also tracks all the company-specific Segment & KPI data so you don’t have to.

• Like to track Amazon’s Cloud Revenue? They’ve got it.

• How about Spotify’s premium subscribers?

• Or Google’s quarterly paid clicks?

They’ve got all of it.

Braden Dennis stops by to discuss building Fiscal.ai. Long time show listeners may remember Stratosphere.io. That was "Era 1" of the company. Today, Braden is working on "Era 3" of the company; Fiscal.ai.

Braden talks about building a product for himself, to acquiring customers, to early LLM adoption, and finally to competing with FactSet. Fiscal.ai recently raised $10mm in a Series A round led by Portage and Social Leverage.

We hope you enjoy the conversation. It's a cool story.

ALSO, if you use the affiliate link fiscal.ai/brew, you will automatically get 2 weeks of Fiscal Pro for Free and if you find that you want to upgrade, my link will get you 15% off any paid plans.

Thank you for using the affiliate link, I appreciate the support. -Bill

Spencer Cibelli, Investment Associate at Robotti & Company, stops by to discuss Haypp Group; the world’s largest online retailer of nicotine pouches and traditional snus products. The nicotine pouch category is, as Mugatu would say, "So hot right now." Spencer details Haypp's unique characteristics, benefit to customers, and value offered to suppliers. This business has an interesting niche. And may just be an unlikely "Win-Win-Win" example. Enjoy the episode!

Sponsor Notes

This episode is brought to you by Fiscal.ai

Fiscal.ai is the complete modern data terminal for global equities. The Fiscal.ai platform combines a powerful user experience with all the financial data capabilities that professional investors need.

Users get up to 20 years of historical financials for all stocks globally that they can easily chart, compare, or export into their own models.

And unlike legacy data terminals where it can take hours or even days, Fiscal.ai’s data is updated within minutes of earnings reports. Fiscal.ai also tracks all company specific Segment & KPI data so you dont have to!
Use my affiliate link fiscal.ai/brew, you will automatically get 2 weeks of Fiscal Pro for Free and if you find that you want to upgrade, my link will get you 15% off any paid plans.

Takeaways

Haypp is the world's largest online retailer of nicotine pouches.

The company has a unique data insights business that contributes to its revenue.

Consumer behavior in the nicotine pouch market shows a willingness to switch brands.

Regulatory challenges are significant but manageable for Hape.

Pricing strategies allow Haypp to offer lower prices than traditional retailers.

The growth potential in the nicotine pouch market is substantial, especially in the US.

Management's long-term vision is focused on market share growth.

Valuation metrics suggest Haypp is an attractive investment opportunity.

The online penetration of nicotine products is still low, indicating room for growth.

Haypp's relationships with manufacturers are symbiotic and beneficial for both parties.