TIP648: Essential Skills for Successful Investing w/ Ian Cassel

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 28 July 2024

⏱️ 76 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On today’s episode, Kyle Grieve chats with Ian Cassel about the art of success in the private investing world, key investing skills to help manage stress, simple methods for finding new investing ideas, consolidating your stock buying framework, the challenges that must be overcome to hold a stock successfully, when they sell a stock, how to develop perseverance like a legendary investor, and a whole lot more! Ian had a long history as a full-time private investor of microcaps. He then transitioned to become the founder of Intelligent Fanatics Capital Management. He is the founder of MicroCapClub.com and co-founder of IntelligentFanatics.com. He’s co-authored two books on Intelligent Fanatics. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:15 - The stresses that must be overcome with being a private investor. 05:18 - Why you shouldn't project performance through a bull market with performance going forward (good performance through a bull market is unlikely to remain the same over a full cycle). 12:20 - How to think about survival with your portfolio through brutal bear markets. 17:11 - A sneak peek into Ian's framework for the skills of investing that are required for outperformance. 23:49 - How to build the skill of identifying stock ideas and Ian's five favorite ways. 28:53 - The power of thinking about the downside before thinking of the upside in investing. 36:21 - Why you can pay double your initial price for a business with increasing earnings power and get a better deal at a higher price. 42:50 - The potential weaknesses of coffee canning and why it does not work on every investment. 46:38 - The four reasons for selling a stock. 1:03:51 - How to deal with biases with being a long-only investor. 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. Read the MicroCapClub Blog and sign up for the newsletter here. Join the MicroCapClub 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 SimpleMining Sound Advisory Shopify AT&T BAM Capital 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

Click on a timestamp to play from that location

0:00.0	You're listening to TIP.
0:03.0	Can investing be broken down into a handful of skills that if mastered would result in an investing career accompanied by excellent performance?
0:11.0	My guest today, Ian Castle, has been thinking about this question for the better part of 2024.
0:15.5	His fund, Intelligent Fanatics capital management, has beaten the S&P 500 since inception in 2018.
0:20.9	But due to regulatory reasons, he can't share his track record publicly.
0:24.5	But today I get to chat with him on questions on two primary topics.
0:28.6	First, we'll go over his history as a private investor.
0:31.4	We'll cover things like what kind of temperament is required to be a full-time private investor.
0:35.0	We'll have a look at how Ian Castle took the leap into that world and get into the details of capital needs before taking that leap.
0:41.0	We'll also cover some of the difficulties you can expect if you
0:44.7	ever decide to go that route. Much of his advice is also helpful to those who aren't full-time investors
0:49.2	but wish to have a portfolio that is able to withstand large economic shocks.
0:54.0	Secondly, we'll give you a peek at Ian's skills of investing that he's been working on through
0:58.1	his insights gained from his journaling.
1:00.0	We'll look at what those skills are and how to develop them to help you get an edge in investing.
1:04.8	The skills are wide-ranging, from things like Ian's five favorite ways of finding ideas,
1:08.8	to why holding stocks is so hard and how to develop the ability to maximize your upside on the stocks that you already own
1:14.3	to Ian's four reasons to sell stock then why perseverance is so important investing and why all the
1:20.6	grades have it in droves so whether you're a micro cap investor like
1:23.6	Ian or just looking to improve your investing skills to find the next big
1:26.7	winner, you will walk away from today's episode with a boatload of
1:29.6	important investing advice. Now let's get right into this week's episode with Ian Castle.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Stig Brodersen, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Stig Brodersen and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.