MI309: Liquid Assets: Investing in Fine Wine w/ Nick King

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Education, Investing, Business

4.6 • 592 Ratings

🗓️ 4 December 2023

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

Patrick Donley (@JPatrickDonley) sits down with Nick King to talk about how his company, Vint, has made investing in fine wine and spirits a simple and profitable experience for both retail and accredited investors. They also touch on how Nick’s work at a value-based stock fund influenced the creation of Vint in attempting to find mispriced wine assets with a margin of safety, why wine provides for great arbitrage opportunities, and Nick’s thoughts on how to best succeed at the entrepreneurial game. Nick King is the co-founder & CEO of Vint, the first SEC-qualified platform that is securitizing the wine and spirits industry. Nick leads fundraising efforts, sets Vint’s strategic vision, recruits talent, and manages day to day operations. Prior to Vint, Nick was on the domestic equities team at a $20bn value investment fund, where he learned to think, invest, and build a business. Nick is a graduate of the University of Virginia, with a degree in financial economics. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro. 02:13 - How he learned about inefficient markets as a kid. 07:17 - What he learned working at a value fund and how he applies it to Vint. 09:05 - Why he maximized for learning early in his career. 10:00 - How the concept of margin of safety became important. 10:51 - What the genesis of Vint was. 11:59 - Why he thinks traditional education on the steps to start a business are misguided. 13:16 - How he explains what Vint does to people. 23:02 - What it was like working with the SEC to get approval for Vint. 26:21 - Why it is important to burn the boats in any entrepreneurial venture. 34:34 - How the process of reaching out to VCs went. 42:31 - How capital is returned to investors. 53:18 - Why Nick loves the volatility of the wine market. & much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Margin of Safety by Seth Klarman. REI160: The Fundrise Approach w/ Ben Miller or watch the video here. NEW TO THE SHOW? Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle's favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Airbnb NetSuite Masterclass Babbel Shopify Connect with Patrick: LinkedIn Connect with Nick: Website | LinkedIn Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0	You're listening to TIP.
0:02.0	I think burning the boats, you force your own hand.
0:05.0	When you have that opportunity or job that you can fall back on,
0:10.0	it's always sitting back there in the back of your mind,
0:13.0	even if it's, okay, I'm not going to go back.
0:16.0	But the burn the boat's decision was made,
0:19.0	and we decided, okay, my co-founder, who's our CTO and a friend from
0:23.6	UVA, okay, we're going to burn the boats and we're going to leave our jobs and both full-time
0:31.4	on-vint, unpaid, and we'd raised a little bit of friends and family money to cover the legal
0:37.3	bills of this
0:38.1	securitization process. And at that point, we basically bet on ourselves to figure this out.
0:48.1	Hey guys, in this week's episode, I got to sit down with Nick King to talk about how his company, Vint,
0:53.2	has made investing in fine wines and spirits a simple and profitable experience for both retail and accredited investors.
0:59.8	We also touch on how Nick's work at a value-based stock fund influenced creation of Vint and attempting to find mispriced wine assets with the margin of safety,
1:08.5	why wine provides for great arbitrage opportunities and Nick's thoughts
1:12.0	on how to best succeed at the entrepreneurial game. If you're looking for alternative investments to
1:16.9	add to your portfolio, be sure to give this one a listen and consider how wine and fine spirits
1:21.7	can boost your returns. And so, without further delay, let's dive into this week's episode
1:26.8	with Nick King.
1:28.6	You're listening to Millennial Investing by the Investors Podcast Network,
1:33.0	where your hosts, Robert Leonard, Patrick Donnelly and Kyle Greve, interview successful entrepreneurs,
1:39.3	business leaders and investors to help educate and inspire the millennial generation.
	...

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