TIP286: Mastermind Discussion 1Q 2020 (Business Podcast)
The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network
Stig Brodersen
4.6 • 3.6K Ratings
🗓️ 8 March 2020
⏱️ 76 minutes
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Transcript
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| 0:00.0 | You're listening to TI P. |
| 0:30.0 | You're listening to TI P. |
| 1:00.0 | Welcome to the Investors Podcast. I'm your host, Preston Pition. |
| 1:02.0 | As always, I'm a company by my co-host, Stig Broderson. |
| 1:04.0 | And we have our mastermind group here, Toby Carlyleau. |
| 1:08.0 | Welcome to the show. Always great to have you back on here. |
| 1:12.0 | Hey, thanks so much for having me. It's good to see you guys. |
| 1:14.0 | Good to see you, Stig, again, since we met for the first time in the flesh and Los Angeles. |
| 1:18.0 | Yeah, it was good fun and fun having Preston calling you and we're Skype too to say hi to everyone. |
| 1:24.0 | And the community was so surprised that we haven't met in person before Toby, |
| 1:28.0 | even though we talk all the time. We do. We talk a lot. We just don't meet because we're in different countries. Good event. |
| 1:34.0 | Well, guys, it's cut right to the chase. So who wants to go first with a discussion on a specific company or investment? |
| 1:42.0 | Well, I've got a name for you. I'm going to say I'm a little nervous about this one. |
| 1:46.0 | It's a short as always. I've been doing lots of shorting over the last year. |
| 1:50.0 | I so I guess since we've been talking about doing the last year of these masterminds. |
| 1:56.0 | The short that I want to discuss is Etsy. Just so you know, in the fund, we do short, we short position small. |
| 2:03.0 | So they're 66 basis points, which is 0.66 of 8%. So they're very small on the fund. |
| 2:10.0 | And the reason we do we have shorts on them in there and we short small is because shorts can move around very violently. |
| 2:19.0 | In the ordinary course, they're going to lose a little bit of money. But if we get a big crash, |
| 2:23.0 | like we're kind of going through now, what the shorts do for our book is that they stand up a little bit more than the market going down. |
| 2:31.0 | So they do a little bit better than their weight in the portfolio, which is what they're doing for hours at the moment in the fund as the market's going down. |
| 2:37.0 | So Etsy, everybody's probably heard of Etsy. It's a niche online e-commerce business. |
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