TIP267: An Intrinsic Value Assessment w/ Sean Stannard-Stockton (Business Podcast)

The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network

Stig Brodersen

Business, Education, Investing

4.6 • 3.6K Ratings

🗓️ 3 November 2019

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today’s show, we talk to Sean Stockton about the intrinsic value of First Republic Bank (FRC) IN THIS EPISODE YOU’LL LEARN: What is the intrinsic value of First Republic Bank Why First Republic Bank can be seen as a retail business with a superior franchise How to value banks, and the importance of price to tangible book value Which key ratios to use to evaluate performance and debt levels of banks Ask The Investors: How to pick stocks when you have a full-time job BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Sean Stannard-Stockton’s company, Emsemble Capital Ensemble Capital’s educational blog Check out Millennial Investing by The Investor’s Podcast Network Sign up to the TIP live event in Los Angeles with Stig and David by emailing: stig@theinvestorspodcast.com Join the Mastermind Group and the TIP Community for the Berkshire Hathaway Annual Shareholder’s Meeting NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Plus500⁠ ⁠Netsuite⁠ ⁠Shopify⁠ ⁠Vanta⁠ HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! 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Transcript

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0:00.0	You're listening to TIP.
0:30.0	Enjoy the show.
0:32.0	You are listening to the Investors podcast.
0:37.0	Where we study the financial markets and read the books that influence self-made billionaires the most.
0:43.0	We keep you informed and prepared for the unexpected.
0:47.0	Welcome to today's show.
0:57.0	My name is Stig Brodison and I'm here today with my co-host Preston Pesh.
1:01.0	Today's topic is banking and we especially going to talk about First Republic Bank.
1:07.0	And our guest for today is Sean Stanner Stockton.
1:10.0	Sean, thank you so much for coming on the show.
1:13.0	Thank you so much for having me.
1:15.0	We ask you to come here on the show to pitch First Republic Bank for our audience.
1:19.0	Before we talk about this specific stock, could you for our audience who are not familiar with you or in simple capital?
1:25.0	Please elaborate on your investment strategy first.
1:29.0	We take most of our inspiration from value investors who have been successful over time.
1:34.0	We really focus on investing in competitively-advanced businesses.
1:38.0	We think that businesses on average don't have competitive advantages and they can do fine.
1:43.0	The stocks can do well.
1:45.0	But they're really hard to value because at any given time, an investment of competition can come in.
1:49.0	Every time something gets going well, competitors notice and they go after those profits.
1:53.0	We look for businesses that have something structural about the business that prevents competitors from coming after them.
1:59.0	And First Republic is a really good example of that.
	...

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