TIP646: How To Understand A Business Like A Pro w/ Kyle Grieve

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 21 July 2024

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today’s episode, Kyle Grieve discusses a book that is near and dear to Warren Buffett’s heart, Common Stocks and Uncommon Profits by Philip Fisher. He’ll discuss why the book was so influential on Warren’s transition towards quality businesses, why going deep into a business is vital to successful long-term investing, specific ways to learn more about a business, it’s management, and its products, how to create your own business grapevine to monitor your investments, details on how Philip Fisher’s investing philosophy and how it developed, and a whole lot more! IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 04:12 - The importance of avoiding dogmatic thinking in investing 05:13 - Why owning growing businesses is so powerful for great investments 05:47 - How to evaluate a business growth prospects 08:43 - How you should look at relations between a business and its employees 14:44 - How Amazon has strengthened their moat by thinking long-term 26:27 - The three ways a business can fund its growth and which are the most beneficial to shareholders 33:56 - Why you should seek transparency in your management teams 35:17 - How to balance investing in growth businesses with being a conservative investor 44:57 - Why having the ability to see the future of a business's profits is so key for minimizing risk 53:07 - The importance of consistently monitoring your businesses, no matter how well they've performed for you in the past And so much more! Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Buy Common Stocks and Uncommon Profits by Philip Fisher here. Buy Where The Money Is by Adam Seessel here. Buy 7 Powers by Hamilton Helmer here. Buy What I Learned About Investing From Darwin by Pulak Prasad here. Follow Kyle on Twitter and LinkedIn. Check out all the books mentioned and discussed in our podcast episodes here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. 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: River Toyota Range Rover Briggs & Riley American Express The Bitcoin Way Public Onramp USPS Simon & Schuster SimpleMining Vacasa Shopify AT&T iFlex Stretch Studios 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! 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. Learning about public companies is hard work. If you want to be a
0:06.7	well-informed investor, you need to keep up with things such as quarterly in annual reports,
0:11.9	both of the businesses that you currently own, but also of the
0:14.6	businesses that you are researching.
0:16.8	Then on top of that, you need to listen to quarterly Q&As or read conference call transcripts
0:21.4	of those same businesses. And lastly you need to do
0:24.3	those exact same tasks for the businesses that you own, as well as the competitors of those businesses.
0:30.3	But to be as knowledgeable as possible, you have to go deeper than gathering information just from what is most easily shared and accessible.
0:37.5	And I think the book Common Stocks and Uncommon Profits by Philip Fisher does an absolutely wonderful job of helping you do exactly this.
0:44.8	So this book accomplishes multiple important investing concepts. First, it's a practical guide
0:50.8	that shows you what information that you should be looking for and
0:53.6	second it explains why that information is so important and then lastly it does a
0:59.5	really good job of just supplying you with ample historical case studies that Philip Fisher went through, and he connects it really well to all the concepts that he teaches.
1:09.0	So some of the analytical areas of importance that I know you'll become much more proficient in after listening to this
1:14.0	episode are details on some of the simplest ways just to find incredible new products and services
1:20.1	whether that's in segments of businesses that you're looking at or maybe you know an entirely new product or service
1:26.2	You'll learn why the price earnings ratios are just less of a concern when you have a really good view of a business's future multiple years into the future. You'll learn how to assess
1:36.7	a business's research and develop expenses and how to really find out if businesses
1:42.1	are and d expenses are really producing value into the future, and you'll learn why investing in growth
1:47.5	is so important, especially in today's age of high inflation.
1:51.7	So you won't want to miss this episode if you strive to
1:53.8	improve your analytical framework by learning as much about a business as
	...

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