Wes Gray returns to the show to discuss a potential solution for those with concentrated financial investments. Wes discusses a solution, via a Registered Investment Company, that enables investors to diversify their position while deferring taxes. We hope the episode is informative.

Find Wes at:

Twitter: https://x.com/alphaarchitect

RIA/blog/education: http://alphaarchitect.comETFs: http://funds.alphaarchitect.comWhite label ETF: http://etfarchitect.com

Andrew Freedman, Communications Analyst at Hedgeye Risk Management, stops by to discuss his experience integrating AI in his life. Bill contacted Andrew after Andrew tweeted "So many (very smart) people still can’t grasp the implications of AI…" This episode is premised on that tweet. It's a good one!

Follow Andrew on X at https://x.com/HedgeyeComm or connect with him on LinkedIn at https://www.linkedin.com/in/andrew-freedman-cfa/

Mary Meeker's AI Presentation/Deck - https://www.bondcap.com/report/tai/#view/0

Follow Bill on X at https://x.com/BillBrewsterTBB

The one and only John Huber stops by The Business Brew. John runs Saber Capital Management. Bill found John through Base Hit Investing back in the day. Today you can follow John's writing at Basehitinvesting.substack.com.

Bill admires John's mental flexibility, grit, and consistency. The Business Brew is happy to feature John this week!

🧠 What You’ll Learn in This Episode
📌 Strategic insights into value investing
📌 How to evaluate high-quality growth companies
📌 The risks of overpaying and the dangers of outsourcing your thinking
📌 Thoughts on Berkshire Hathaway’s future
📌 Portfolio management and balancing writing with fund operations
📌 Opportunities beyond the S&P 500

🕰️ Timestamps
00:00 – 👤 John Huber’s Introduction
03:10 – 📉 Berkshire & Market Reflections
06:22 – 💹 Investment Strategies & Market Insights
11:10 – 🚀 Evaluating Growth Engines in Quality Companies
17:02 – 🏢 Tech Giants & Capital Expenditure
26:30 – 🏦 Banking Sector & Investment Risks
34:48 – ⚠️ The Risk of Overpaying for Stocks
36:00 – 🔄 Adapting Investment Strategies
37:57 – 🧩 The Danger of Outsourcing Thinking
40:51 – 🌍 Opportunities Outside the S&P 500
47:24 – ✍️ Balancing Writing & Fund Management
01:00:22 – 🔮 The Future of Berkshire Hathaway
01:07:25 – 👋 Concluding Thoughts & Farewells

Andy Constan stops by to discuss today's US macro backdrop. Importantly, this discuss was recorded on 4/24. Since then the narrative around the tax bill has gotten incrementally more stimulative. Do what you will with that information.

Bill reached out to Andy after following him for a while on Twitter. Andy appears to use Twitter to educate, inform, and journal thoughts. Hence why he was invited to the show.

As for Andy's formal background, his bio reads as follows:

Andy Constan graduated with a degree in Bioengineering from the University of Pennsylvania in 1986.

Following he spent 35 years investing and trading global equities, spending 17 years at Salomon Brothers.

Following he started honing his Macroeconomic Knowledge in 2010 working at Bridgewater Associates and Brevan Howard.

Since then he has worked on growing Damped Spring Advisors.

We hope you enjoy the conversation.

Bill Chen returns for a third time. Bill focuses on "hard assets," with a specific focus on real estate. The conversation winds from some macro (from 15 minutes to 22ish minutes) to more REIT specific ideas (after 24 minutes).

Please note, some of the tariff discussion is already out of date. Nevertheless, we hope you enjoy the conversation!

Bill Chen's other episodes can be found at: https://www.youtube.com/watch?v=oyf41BmMYxU and https://www.youtube.com/watch?v=Tmoc2crT55U

For a different perspective on real estate investing check out Ryan Dobratz' episodes at https://www.youtube.com/watch?v=UIVr5Jvr-2M

Few things are more ironic than releasing a China focused episode on Liberation Day. Nevertheless, here we go!

In this episode of The Business Brew, host Bill Brewster interviews Jingshu Zhang, a persistent listener who recommended looking into China's investment opportunities. Zhang shares his journey from studying in the United States to becoming a successful investor with a unique focus on Chinese assets. They discuss Zhang's experience navigating the Chinese market, the impact of geopolitical tensions, the advantages of holding Chinese state-owned enterprises (SOEs), and specific investment opportunities like Pinduoduo and Tencent. Jingshu offers insights into managing risk, the macroeconomic environment, and the regulatory landscape in China. Disclaimer: All content is for entertainment purposes only and not financial advice.

00:00 Introduction and Guest Background

01:15 Investment Opportunities in China

04:04 Challenges and Sentiments Towards Chinese Investments

08:15 Competitive Landscape and Market Dynamics

15:50 Case Study: TK Group and Industrial Sector Insights

22:55 Pinduoduo's Growth and Strategy

34:37 Exploring Global Investment Opportunities

35:19 US Market Insights and Mid Cap Focus

36:08 Tech Giants and Valuation Comparisons

36:13 Tencent: The Super App of China

43:32 State-Owned Enterprises and Investment Safety

53:20 Environmental Regulations and Investment Opportunities

56:59 Delisting Fears and Investment Strategies

01:04:09 Short Selling Challenges and Lessons Learned

01:07:49 Final Thoughts and Contact Information

Welcome to The Business Brew! Host Bill Brewster is joined by repeat guest Evan Tindell to delve into pressing investment topics for 2024. Evan is the founder and portfolio manager of Bireme Capital. You can find his first episode here: https://creators.spotify.com/pod/show/william-brewster1/episodes/Evan-Tindell---Where-Poker-and-The-Market-Collide-e1nrbum (Spotify) or https://podcasts.apple.com/si/podcast/evan-tindell-where-poker-and-the-market-collide/id1540847053?i=1000579552480 (Apple).

Together, they explore international valuation disparities, the pitfalls of shorting meme stocks, and the dynamics behind recent market movements. Evan shares his unique approach to investing and the lessons learned from challenging investment phases, including a critical analysis of MicroStrategy, GameStop, and meme stocks.

They also discuss Japan's corporate governance reforms and the implications for global investors. Lastly, Evan and Bill touch on utilizing modern AI tools in investment processes, the future of software, and personal stories from Evan's adventurous journey to Zambia.

As a reminder, nothing discussed constitutes investment advice and is for entertainment purposes only. Enjoy the engaging conversation!

00:00 Welcome to The Business Brew

01:20 Introducing Evan Tindell

02:01 Discussing 2024 Performance

03:09 Challenges of Shorting Meme Stocks

05:14 Bitcoin Yield and MicroStrategy

17:55 Market Inefficiencies and Opportunities

30:59 Investing in Japan

42:09 Investment Strategies and Market Insights

43:17 Diverse Business Models in Japan

44:58 Meeting the Emperor and Personal Anecdotes

45:35 The Role of LLMs in Investment

51:48 AI Tools and Their Impact on Daily Life

56:10 Future of Software and Business Models

01:07:12 Tobacco Industry Analysis

01:15:12 Adventures in Zambia

01:20:36 Conclusion and Farewell

In this episode, the host welcomes back Devin Anderson, co-founder of an investment advisory firm and competitive shotgun shooter. They delve into the psychology and skills required for high performance in sports like shooting, golf, and tennis. Devin shares insights from his own experience and coaching on the importance of building skills consciously, then executing them unconsciously under pressure. He highlights the nuances of practice, routine, and dealing with pressure to achieve peak performance. The discussion also touches on the parallels between competitive sports and high-stakes business environments, emphasizing structured planning and routine for consistent success.

00:00 Introduction and Guest Background

00:35 Competitive Shotgun Shooting Explained

01:32 The Mental Game: Conscious vs. Unconscious Execution

03:52 Why We Play: The Allure of Sports

07:17 Coping with Pressure in Sports

14:01 Skill Building and Confidence

17:06 The Role of Vision in Performance

26:16 Routine and Unconscious Performance

42:11 Overcoming Evaluation Paralysis

42:49 The Four Stages of Execution

44:04 The Importance of Practice Routines

44:58 Building Confidence Under Pressure

49:09 Handling Fear and Careful vs. Careless Misses

50:42 Trust and Performance Under Pressure

55:52 The Role of Routine in Performance

01:09:25 The Fun and Pressure of Competition