Investing by the Books Podcast
@IB_Redeye
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Welcoming masterminds to discuss books to think, invest, and live better. Concept: @Investbythebook Produced: @Redeye_ Hosts: @edisonpalmgren & @NiklasSavas
Stockholm, Sweden
Joined May 2021
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Pinned Tweet
Our episode together with Moritz Sitte just went live.
Moritz is the investor at Antheia AB, a private investment firm founded by Daniel Ek. We discuss ‘The Clock of the Long Now’, investment philosophy, reframing one’s state of mind, and balancing the long with the short term.
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Book giveaway!
To celebrate our most popular episode to date, we are giving away 5(!) signed copies of '100 Baggers',
@chriswmayer
’s wonderful book. To participate:
📚Like & Retweet
📚Follow us (so we can contact you)
The winners will be announced on the 30th of December.
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Reading books is great; discussing them with their authors is even better.
Here are our talks with the people behind five incredible investing books:
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Book giveaway!
@safalniveshak
has generously signed his masterpiece 'The Sketchbook of Wisdom' for our listeners. We are now giving away two copies. To enter:
📚Like & Retweet
📚Follow us (so we can DM you)
The two winners will be announced on the 20th of October.
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Our discussion on 100 Baggers with
@chriswmayer
is our most popular episode to date.
The book provides invaluable lessons for aspiring investors.
Here are a few key takeaways:
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Summer giveaway!
We are giving away 3(!) signed copies of ‘Quality First Investing’, the latest edition of our CEO’s great book, along with three branded gym bags. To participate:
📚Like & Retweet
📚Follow us (so we can contact you)
The winners will be announced on June 28
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Book giveaway!
Christmas is around the corner, and what better way to celebrate than by giving away 3 signed copies of
@CXODanielZ
from Teqnion’s wonderful book, An Investment Thinking Toolbox?
To participate:
📚Like
📚Retweet
📚Follow us
Merry Christmas!
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Episode 13: Chris Mayer on 100-baggers 💰
Thank you
@chriswmayer
for a very thoughtful conversation, helping us to step back from the noise and focus on what’s important.
Listen, learn and reflect.
Apple Podcast:
Spotify:
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Our 12 books/episodes in 2021🎉
1. Who taught you the most?
2. Which authors/books do you want on the podcast in 2022?
Big thanks to our bright guests and listeners in 50 countries! Retweets appreciated ♥️
@manualofideas
@InvestBooks
@InvestmentBook1
@Invest_Books
@Redeye_
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Today marks two years since starting the Investing by the Books podcast.
Over the years, we have had 100+ hours of discussions with some of the sharpest minds in investing.
Here are our seven most valuable lessons:
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We published our (free) quarterly update on Swedish serial acquirers this Monday.
The 69-page report covers companies such as $VIT, $LAGR, $LIFCO, $SDIP, $ANOD, $ADDV, $BERG, $MMGR, $IDUN, $TEQ, $VOLO, $ADDT, $INSTAL, $GREEN, and $NCAB.
Here are some highlights:
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Throwback Thursday!📚
One year ago, we released an episode with Michael Mauboussin. Michael is a thought leader on decision-making and the author of Expectations Investing.
Here are three lessons from our conversation:
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Great companies are not always great stocks.
Eloquently put by Mark Leonard in the 2015 $CSU president’s letter:
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Already 1 year of podcasting!
In this special episode, we reflect on the first 25 books and conversations:
Apple:
Google:
Spotify:
Huge thanks to all our guests and listeners. Many more episodes coming up!
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Thrilled to launch our latest episode with our hero
@mjmauboussin
! This is a masterclass where Michael breaks down his book Expectations Investing, intangibles, competitive dynamics, Shiller P/E, and much more.
Apple:
Spotify:
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A fantastic episode!
Will Thorndike is a co-founder of Housatonic Partners, host of the 50X podcast, and author of 'The Outsiders'.
We discuss the lessons he brings from writing the book, the outsiders of tomorrow, and the secrets behind successful capital allocation.
1/2
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The first flash crash, Pink Palace, how to build a lasting serial acquirer, and lessons from 🏴 soccer clubs..
Thank you
@PGWahlen
for a fun and insightful talk about Business Adventures and your journey with $VOLO
Apple:
Spotify:
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Book giveaway!
We are giving away 3 copies of
@AvnerMandelman
’s innovative book: The Advanced Sleuth Investor. To participate:
📚Like & retweet
📚Follow us
The winners will be announced on the 24th of April.
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Episode 16 - we are thrilled to speak with the legendary author and investor
@RobertGHagstrom
about "Investing: The Last Liberal Art" by
@ColumbiaBizPub
Listen, share, and buy all of Robert's books 📚
Apple:
Spotify:
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Book giveaway!
Ronald Fagerfjäll, the legendary business journalist who joined us in episode 50, has generously signed two of his books for a giveaway. To participate:
📚Like & Retweet
📚Follow us (so we can DM you)
The winners will be announced on Friday, October 27.
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Episode 23: We discuss the masterpiece ’Poor Charlie’s Almanack’ with the learning machine and fund manager
@rajeev_agr
- who Buffett offered a job at the latest AGM…
Spotify:
Apple:
@InvestBooks
@VInvestingWorld
@InvestmentBook1
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We (Redeye) just released our quarterly update on Swedish serial acquirers.
It covers $VIT, $LAGR, $SDIP, $ANOD, $ADDV, $BERG, $MMGR, $TEQ, $VOLO, $LIFCO, $ADDT, $INSTAL, $GREEN, and $NCAB.
Let’s summarise:
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DCFs don’t work, and brands provide a weak competitive advantage.
Adam Seessel doesn’t shy away from criticizing conventional wisdom, a potential reason for the outperformance of his firm, Gravity Capital Management.
Our conversation with Adam is available now.
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We recently published our (free) quarterly update on Swedish serial acquirers.
The report is 69 pages, covering the latest on $VIT, $LAGR, $SDIP, $ANOD, $ADDV, $BERG, $LIFCO, $MMGR, $IDUN, $TEQ, $VOLO, $ADDT, and $GREEN, among many others.
Below are some highlights:
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We just released an episode with Edward Chancellor, where we discuss his fantastic book, Capital Returns.
Among many things, we cover capital cycle investing and how investors can benefit from focusing on supply rather than demand.
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This was a joy!
Gautam Baid is a fund manager and author of The Joys of Compounding, a book full of timeless investing gems.
Our wide-ranging conversation covers common investor misconceptions, traits of a high-quality business, and the importance of lifelong learning.
1/2
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Want to learn from Warren Buffett and become a better investor?
We just released an episode with
@BRK_Student
, the author of the most detailed account of Berkshire Hathaway to date. We discuss capital allocation, cognitive biases, and why Berkshire should not be split up:
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Today’s episode features none other than the master of microcaps,
@iancassel
.
We talk about the book “Golf is Not a Game of Perfect” and draw parallels between the mental habits of professional golfers and successful investing.
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Re-reading this classic ahead of the Berkshire Shareholder Meeting.
See you there next week!
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“If you win a rat race, you’re still a rat.”
For our latest episode, we have invited
@safalniveshak
to discuss his inspiring book, ‘The Sketchbook of Wisdom.’ We talk about how to be financially free, thoughts on re-reading books, and the philosophy of Ikigai.
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58 episodes so far, and many more in pipeline... This bonus interview features highlights from
@chriswmayer
and
@iancassel
, and a sneak peek of our next episode...
Available on:
I reflect on the first three years of podcasting...
Big thanks to all of our guests and supporters!
Watch the interview on Apple, Spotify, or:
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We just released an episode with one of Sweden’s most prominent businessmen, Staffan Salén.
The Salén family has a strong heritage spanning over 100 years, and Staffan and his brother are the third generation. We talk about banana boats, investments, and high-speed lessons.
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Want to know how Henry Singleton took Teledyne from $58,000 to $392,000,000 in net income over 27 years?
Together with Carter Johnson, we dive deep into the methods used by Singleton and try to pinpoint what enabled this incredible success story.
1/3
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For 30 years, Jim Simons averaged an annual gross return of 66% while acting almost entirely in secret.
@GZuckerman
is one of the few people with insight into Simons' company, Renaissance. We just released an episode with him, discussing his book: The Man Who Solved the Market.
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This was fun!
Christian Billinger is the chairman of Billinger Förvaltning, a privately held investment company focused on owning high-quality businesses.
We discuss market timing, traits of successful investors, and Terry Smith’s excellent book Investing for Growth.
1/3
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Thrilled to share episode 25 featuring the legendary Richard Lawrence - founder of Overlook Investments and author of The Model.
Overlook has a fantastic track record of investing in Asian equities, consistently outperforming the market since 1991.
#investing
#books
#asia
#china
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Do you have a bit of spare time this upcoming weekend?
Here are five of our previous episodes that will make you a better investor:
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At Investing by the Books, we are passionate about reading.
To help you in your investing journey, we have compiled a list of 800+ investing-related books.
Available for free using the link below:
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The Complete Financial History of Berkshire Hathaway - Adam Mead
THE financial book on Berkshire Hathaway. Sitting at 700+ pages, this is the most detailed account of Warren Buffett’s behemoth to date. Our discussion with
@BRK_Student
is coming up in a few episodes; stay tuned!
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Special Omaha episode: Reflections from $BRK annual meeting + interviews with
@SvnCapital
, Christian Billinger,
@rajeev_agr
, and
@BRK_Student
.
We had a great time, wonderful meeting so many like-minded investors.
Apple:
Spotify:
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We just released an episode with Torbjörn Arenbo, who has been the Chief Analyst and Head of Corporate Advisory Sweden at Danske Bank, with 25 years of experience in the finance industry.
Our conversation is centred around Torbjörn’s book Capital Allocation and Value Creation.
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Our new episode, together with
@ToddFinkle
, is now available. We discuss his latest book on Warren Buffett, psychological biases, and whether academia and investing are compatible.
Listen now as preparation for the upcoming Berkshire weekend.
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We just released a new episode with
@jcdeswaan
, a lecturer in the economics department at Princeton University and a partner at Cornwall Capital.
We discuss his book, Seeking Virtue in Finance, and learn about the ethical considerations that finance professionals face.
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From yesterday's short visit to Chicago.
After 24 hours of traveling, we arrived in Omaha last night. A few intense and fun days are coming up before Saturday's $BRK annual meeting.
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Unsure about what to read? We’ve got you covered.
For our 40th episode, we join forces with
@g3cfo
to discuss the best investing books of all time. We go through our favorites and explain why we believe they are invaluable for investors.
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Really enjoyed this cheerful yet deep conversation with
@EricJorgenson
! His book on
@naval
is full of wisdom - we talk about wealth creation, innovation, leverage, happiness, health, and... flying cars. Thanks Eric!
Apple:
Spotify:
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We just released an episode with Chris Waller!
Chris founded Plural Investing and holds an MBA from CBS’s Value Investing program. Our conversation focuses on “We Are Bellingcat” and covers how investors can deepen their research by better using open-source information.
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We just released an episode with Stephen Penman, a professor of accounting and security analysis at Columbia Business School and Bocconi.
The discussion focuses on his book Accounting for Value, a wonderful text about how accounting numbers relate to value creation.
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Our next 4 confirmed authors:
+ Richard Lawrence: The Model
+ Magnus Angenfelt: The World's 99 Greatest Investors
+ Andrew Wagner: The Economics of Online Gaming
+ William Thorndike: The Outsiders
Questions? DM or comment.
Retweets appreciated 🙏
#investing
#books
#fintwit
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In our 45th episode, we speak with the legendary Paul Johnson and Paul D. Sonkin about their latest book “The Enduring Value of Roger Murray.” Together, they have made invaluable contributions to the investing community for well over half a century.
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17
Quality First Investing - Björn Fahlén
Björn Fahlén is the refounder, principal shareholder, and CEO of
@Redeye_
, a niche Swedish investment bank. In his book, he lays out a checklist approach for finding and holding multi-baggers:
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Poor Charlie’s Almanack is one of the best investing books ever written, with lessons spanning many disciplines.
In case you think the Amazon price is above intrinsic value (unlikely, we argue), we discuss the book with
@rajeev_agr
in episode 23:
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We're now on YouTube — with video! Our next episode will air on Tuesday, featuring one of Sweden's most prominent business persons...
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Relying on multiples can lead to fatal investment mistakes.
Here are five instances where multiples can be especially misleading:
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Love this mindset. Non-investing books can have tons of investing lessons. Examples from our podcast:
#47
Golf Is Not a Game of Perfect with
@iancassel
#41
Deep Survival
@farnamjake1
#36
Superforecasting
@MattJoass
#20
A Search In Secret India
@SvnCapital
More suggestions?
“I learned a lesson which has stuck with me all through the years; you can learn from everybody.”
- Sam Walton
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Interested in learning more about a tool that can make you a better investor?
We had the great pleasure of speaking with
@farnamjake1
about his newly launched software Journalytic. We also talk about the book Deep Survival and how to go about balancing risk and return.
1/2
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15
In our latest episode, we had the pleasure of speaking with Pieter Slegers at
@QCompounding
about his new book, The Art of Quality Investing.
We cover a wide array of topics, including moats, investment philosophy, and Pieter’s journey with Compounding Quality.
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8
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“All models are wrong, and some are useful.”
We just released an episode with Matt Joass, focused on the book Superforecasting. We cover systems for identifying mistakes, thinking in probabilities, and the benefits of applying a growth mindset.
1/2
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Great conversation and book choice by
@ESprinchorn
- one of Sweden's most successful fund managers!
Apple Podcast:
Spotify:
@TINfonder
@Redeye_
#investing
#selfjustification
#CognitiveDissonance
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We just released an episode with
@ToddWenning
, a professional investor with experience from Ensemble Capital, The Motley Fool, and Morningstar.
We discuss the book Lessons from the Titans, risk management, and the importance of evaluating the people behind a business.
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Shu Hattori and Andrew Chou are currently building Japan’s first serial acquirer, Pinecone.
Our episode focuses on Shu’s book, The McKinsey Edge. We also cover what investors can learn from consultants, thoughts on decentralization, and the vision for Pinecone.
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Listen to the episode:
Apple:
Google:
Redeye:
Spotify:
Books mentioned:
2/3
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Glad to hear Chris. The book is expected to be published in 2023. For those curious in learning more, we discussed the book with Björn in episode 17.
Received an advance copy of "Quality First Investing" by Bjorn Fahlen at my visit with
@edisonpalmgren
and
@NiklasSavas
at
@IB_Redeye
. Looks good! (1/2)
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Delighted to share our interview with CIO Andrew Wagner.
Andrew tells the fascinating story behind his book 'The Economics of Online Gaming' and we discuss the many ways that
#gaming
can make us advance in economics, business, and investing. (1/2)
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Our episode with Chris (number 13) can be found wherever you listen to podcasts.
In short, '100 Baggers' is about stocks that return 100x. It describes common characteristics and key components of extraordinary investments.
A great read for seasoned and aspiring investors!
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"You have to give them enough opportunity to disappoint you for a quarter or two. You also have to give them enough room to exceed your expectations."
@iancassel
on the importance of being flexible in your investment approach. From the upcoming episode of Investing by the Books.
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We just released an episode with
@greenbackd
, a former lawyer and the author of several books, including The Acquirer’s Multiple.
We discuss his methodology, reflect on patience among investors, and investigate the difference between managing your own and other people’s money.
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This was fun and interesting!
Mark Mahaney is one of the most experienced tech analysts and has collected his timeless investing lessons in the great book 'Nothing But Net'.
We talk premium growth, comp. advantages, $META, $SPOT,
#TikTok
, and much more.
(1/2)
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For our next episode, we are joined by
@ToddWenning
. Here are 7 great books we covered:
- Lessons from the Titans
- Why Moats Matter
- The Seven Signs of Ethical Collapse
- Same as Ever
- Common Stocks and Uncommon Profits
- Big Money Thinks Small
- Keeping Your Dividend Edge
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100 Baggers - Chris Mayer
On the topic of multi-baggers,
@chriswmayer
has taken it to the next level. What makes a stock go up 100X? How do you identify the winners of tomorrow? What does Chris’ portfolio strategy look like? Listen to find out:
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Some of the highlights from the past few days in Omaha.
It’s been great meeting up with listeners, previous guests, and a bunch of new inspiring people!
$BRK
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We just released the 50th episode of Investing by the Books.
For our jubilee, we are joined by one of the legends of Swedish business journalism, Ronald Fagerfjäll.
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Our
#1
guest
@iddings_sean
on investing’s holy grail, how to be an intelligent fanatic, deal with biases, and much more.
☕️ Listen on Apple, Pocket Casts, Stitcher, TuneIn, or
@spotifypodcasts
:
#investing
#books
#podcast
$XPEL
@Redeye_
@Investbythebook
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Avner Mandelman is a former rocket scientist and hedge fund manager turned private investor.
His method, sleuth investing, means looking for exclusive, physical evidence in your investing process.
Here is how he uses this method in finding stocks for long-term outperformance:
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Really excited to interview
@chriswmayer
on Monday about his great book on stocks returning $1,000,000+ for every $10,000 invested. Do you have questions? Comment or DM
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We have been hosting Investing by the Books for more than 2 years.
Here are five previous episodes to learn what we are about:
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Measuring the Moat by Credit Suisse is arguably the best free investing resource.
Among the authors are
@mjmauboussin
, a fantastic strategic thinker and a former guest on the podcast (episode
#10
).
Here is their three-stage approach to industry analysis:
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Episode 20 with Shree Viswanathan
@SvnCapital
- discussing how certain spiritualism can help, and perhaps even is necessary, to become a successful investor. Thanks to our listener
@Assonmoneymess
for connecting us!
Apple:
Spotify:
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We just released an episode with Stephen Clapham. He founded Behind the Balance Sheet, has 25+ years of investment analyst experience, and has held senior positions at multi-billion dollar hedge funds.
We discuss his book, the Smart Money Method, and talk investment philosophy.
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From Capital Returns by Edward Chancellor. Two fundamental aspects of pricing power that investors must be aware of:
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“Writing time is terribly precious.”
In episode number 50, we had the pleasure of speaking to Ronald Fagerfjäll, a legend in Swedish business journalism. The topics of our discussion include Ivar Kreuger, the Swedish serial acquirers of the 60s, and thoughts on writing well.
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From “10 1/2 Lessons from Experience” by Paul Marshall, one of the two men behind the British hedge fund Marshall Wace.
A short book full of great lessons for investors.
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Our new podcast is up! ✨
Get to know the hosts Eddie Palmgren and Niklas Sävås, what you can learn from the show, and who the first guests are. Watch and subscribe:
#investing
#books
#podcast
@Redeye_
@Investbythebook
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Thrilled to record new episodes with
@RobertGHagstrom
&
@EricJorgenson
about their masterpieces:
𝗜𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴: 𝗧𝗵𝗲 𝗟𝗮𝘀𝘁 𝗟𝗶𝗯𝗲𝗿𝗮𝗹 𝗔𝗿𝘁
𝗧𝗵𝗲 𝗔𝗹𝗺𝗮𝗻𝗮𝗰𝗸 𝗼𝗳 𝗡𝗮𝘃𝗮𝗹 𝗥𝗮𝘃𝗶𝗸𝗮𝗻𝘁
Do you have questions?
Comment or DM
Shares appreciated ♥️
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To summarize:
The Twin (or triplet) Engines
Stay ahead of the competition
Be sector agnostic
Our episode with Chris (number 13) is available wherever you listen to podcasts.
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In today’s episode, we speak with Paddy Hogan, the head of IR at Orix.
The episode focuses on “What It Takes” by Stephen A. Schwarzman. It tells the story of how the author founded Blackstone, the world’s largest alternative asset manager, with one trillion dollars in AUM.
1
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Are good investors born poor?
This is one of the fascinating topics we cover in today’s episode with
@cole_smead
. Cole is a portfolio manager at Smead Capital Management, the host of the podcast “A Book With Legs”, and an avid reader.
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An honor to be mentioned in such good company.
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In a couple of weeks, we are recording an episode with Stephen Penman, a professor of accounting and security analysis at Columbia Business School and Bocconi.
Feel free to comment if you have any questions for Stephen.
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Peter L. Bernstein is one of the most famous economists of all time, having made influential refinements to the efficient market hypothesis.
Here are some nuggets from one of his books, Against the Gods, which explores the origins of probability and risk management:
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“More than anything else, that’s the key to investing. Don’t chase. Don’t have that fear of missing out.”
A short quote from our upcoming episode with
@Greenbackd
.
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New episode: Smart, funny, and friendly
@jeff_gramm
!
We talk about shareholder activism, life as a board member, how to run an overvalued company, and much more. Jeff is the author of "Dear Chairman" and manages a hedge fund. Free to listen and share ♥️
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After listening to our upcoming episode with Stephen Penman before the release, we were struck by the wisdom he provides.
Here are 11 timeless quotes from next week’s episode:
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A pleasure to share our talk with the author and photographer
@GillianZoeSegal
who we met in Omaha. We cover her relation to $BRK, common traits of successful people, and qualities to look for in a mentor. Thank you Gillian, enjoyed it!
To listen:
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📚
"[...] businesses’ market valuations may take a hit but not their intrinsic value; the opportunity cost of not investing in troubled times far exceeds any near-term pain owing to notional loss."
From "What I Learned About Investing From Darwin" by Pulak Prasad.
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Stray Reflections, perfect reading for this cabin-in-the-woods-weekend 📚🌲❄️
The book is a beautiful timeless collection of wisdom that I want to return to throughout life.
Thank you
@jsmian
for sharing your thoughts and essential reminders of how to live a better life.
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Check out Redeye’s latest update on serial acquirers.
As always, excellent work by Christian and Niklas.
We published our serial acquirers update for Q2 2024 this morning. Check it out and let us know what you think! This update discusses recent news flow around Swedish serial acquirers in our universe and an attempt to compare ROIC and ROE.
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