Greg Steinmetz - American Rascal
A Book with Legs
Smead Capital Management
4.2 • 1.1K Ratings
🗓️ 7 November 2022
⏱️ 68 minutes
🧾️ Download transcript
Summary
“The smarter people knew that if Gould was coming after them, it was better to negotiate a peace rather than fighting to the bitter end.”
Author and journalist Greg Steinmetz joins Cole and Bill to discuss his book, American Rascal: How Jay Gould Built Wall Street's Biggest Fortune. Greg’s book details the life of Jay Gould, one of the most polarizing robber barons of the 19th century. The conversation covers Gould’s early business ventures, his path to becoming a railroad tycoon, and how he ultimately became the man who controlled Wall Street.
Transcript
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| 0:00.0 | You're listening to A Book with Legs, a podcast presented by Smead Capital Management. |
| 0:08.0 | At Smead Capital Management, we advise investors who fear stock market failure. |
| 0:12.9 | You can learn more at Smeadcap.com or by calling your financial advisor. |
| 0:20.6 | Welcome to a book with legs podcast. I'm Cole Smead. I'm the president and a portfolio |
| 0:25.0 | manager here at Smead Capital Management. At our firm, we are readers and book junkies. It can be said |
| 0:30.5 | that leaders are readers, and we believe books provide us a great source of information for filtering |
| 0:35.0 | what is and isn't important for us as investors. |
| 0:38.8 | Investing is the last great liberal art and the best way to spend a lifetime of learning. |
| 0:42.9 | This podcast is for readers, thinkers, business-minded people, and investors who want to grow their |
| 0:48.0 | knowledge from great authors and their writing. |
| 0:50.5 | Charlie Munger often talks about using multiple mental models and analysis. |
| 1:00.0 | Our aim for this podcast is to help listeners test Munger's theory in business, markets, and people. Hosting this episode with me is our firm's chief investment officer, my dad, Bill Smead, dad, thanks for doing this with me. |
| 1:07.0 | Are you ready to have some fun today? |
| 1:08.0 | I am. What could be more fun than going back into the 1800s we are |
| 1:12.4 | going to discuss one of the most interesting and unexpected capitalists of the 19th century joining us is |
| 1:17.5 | gregg steinmetz to discuss his recently published book american rascal how j gould built wall street's |
| 1:23.4 | biggest fortune um to give our listeners a little background on Greg, Greg is a Colgate University |
| 1:29.4 | grad with degrees in history in German. He also earned a master's degree in journalism from |
| 1:34.4 | Northwestern University, one of the strongest journalism programs in the country. He spent the |
| 1:38.7 | early part of his career as a journalist for the Sarasota Herald Tribune, the Houston Chronicle, |
| 1:43.0 | and Newsday. He then served as the Bureau Chief of the Wall Street Journal in Berlin and London. |
| 1:47.9 | Greg is now a securities analyst at Ruein, Konef and Goldfarb, the manager of the illustrious |
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