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A Book with Legs

Mellon vs. Churchill: The Untold Story of Treasury Titans at War

A Book with Legs

Smead Capital Management

Investing, Business, Management

4.21.1K Ratings

🗓️ 16 June 2025

⏱️ 69 minutes

🧾️ Download transcript

Summary

In this episode, Cole Smead sits down with independent scholar and writer Jill Eicher to discuss her book, “Mellon vs. Churchill: The Untold Story of Treasury Titans at War.” Their conversation explores the never-before-told story of heated debates between Andrew Mellon and Winston Churchill over post-WWI debts. Eicher and Smead discuss how each side of the dispute crafted narratives to shape public opinion, their differences in leadership philosophy, and more.

Transcript

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0:00.0

You're listening to A Book with Legs, a podcast presented by Smead Capital Management.

0:07.9

At Smead Capital Management, we advise investors who play the long game.

0:12.3

You can learn more at Smeadcap.com or by calling your financial advisor.

0:26.6

Welcome to a book with legs podcast. I'm Cole Smead, CEO and portfolio manager here at Smead Capital Management. At our firm, we are readers, and we believe in the power of books to help shape informed investors.

0:32.6

In this podcast, we speak to great authors about their writings. The late great Charlie Munger prescribed using

0:37.5

multiple mental models and analysis. We analyze their work through the lens of business,

0:42.3

markets, and people. We're going to have quite a bit of fun today. In this episode, we're going

0:46.7

to learn how to settle matters that you don't create, you can't control, and you need to

0:52.5

abide by the powers that be around you in an international

0:56.3

conflict.

0:57.3

Jill Eicher is joining us to discuss her newly released book, Mellon versus Churchill,

1:02.0

The Untold Story of the Treasury Titans at War.

1:05.8

To introduce our listeners and our viewers to Jill, Jill previously served in the U.S.

1:10.2

Department of the Treasury. She also worked at the Bipartisan Policy Center, if I remember viewers to Jill. Jill previously served in the U.S. Department of the Treasury.

1:11.5

She also worked at the bipartisan policy center.

1:14.2

If I remember correctly, Jill out of my notes, that was the research lab that you worked with there.

1:19.0

She has been a visiting scholar at Stanford University and also at the International Churchill Society.

1:24.0

She also worked in the investment management business like I do or our firm does, Helman Jordan Management, a Boston-based investment management firm.

1:31.8

She is a graduate of Wellesley College and did postgraduate work at Strasbourg University.

1:36.0

She also, I don't know if I've had this before, but she holds a patent to her name as well.

1:41.4

I found that little tidbit out there, Jill.

1:42.9

So thank you for joining me.

...

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