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

TIP668: What I learned About Investing w/ Stig Brodersen

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

Stig Brodersen

Business, Education, Investing

4.63.6K Ratings

🗓️ 13 October 2024

⏱️ 80 minutes

🧾️ Download transcript

Summary

In today's episode, Stig Brodersen outlines 10 things he has learned about investing since he started The Investor’s Podcast in 2014. In the second segment of the show, Clay Finck joins to discuss his top takeaways from his investing career.  IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:12 - Why you should be careful who you listen to about stock investing.  07:45 - Why you should not screen for stocks. 08:29 - Why Stig’s circle of competence is getting smaller. 11:31 - Why Stig do not read as many investing books as he used to. 16:05 - Why you should set up guardrails for yourself. 19:36 - Why you shouldn’t look at your track record more than once per year. 20:17 - Why you shouldn’t only have public equities in your portfolio. 31:23 - Why you should run your track record 1,000 times. 32:53 - How one could think about position sizing. 35:59 - What are the implicit assumptions? 45:43 - What Clay learned about investing. 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. Stig’s blog post on his portfolio and track record since 2014. Stig and Clay’s podcast episode on Stig’s return since 2014. Criteria of companies in the UK that Stig is interested in buying. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Plus500⁠ ⁠Netsuite⁠ ⁠Shopify⁠ ⁠Vanta⁠ HELP US OUT! Help us reach new listeners by leaving us a rating and review on Spotify! 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! Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. 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Transcript

Click on a timestamp to play from that location

0:00.0

You're listening to TIP. I met my co-founder Preston Pisch on an online forum back in 2013,

0:07.0

where we discussed accounting and what we can learn about investing from Warren Buffett in Charlie Munger.

0:12.0

Now at the time I had just started investing... investing from Warren Buffett in Charlie Munger.

0:12.8

Now at the time I had just started investing

0:15.6

in my own portfolio and mistakenly thought

0:18.1

I could be the next Warren Buffett.

0:19.7

And at the time, I do have to say,

0:22.0

it seemed like almost everything I touched in the stock market just went up and to the right and of course little did I know that everyone looks like genius in a bull market.

0:31.0

Because this was a time where I had not yet been humbled by the stock

0:34.8

margin and I had an ego you're borderline my own nemesis here so I typed up this

0:41.0

Excel spreadsheet and how much I could compound my meager savings if I could sustain its record record like Buffett himself.

0:48.6

And yes, I am aware of how ridiculous it sounds, but that was nonetheless how I approach things back in the day.

0:56.9

So if we fast forward to 2014, this was the time whenever I started the investors podcast together with Preston and again it sounds ridiculous but at the

1:06.7

time I had more excited about creating a podcast in my second language and then all the technical difficulties of you know handling a

1:15.1

microphone they had a mixer we had something a big machine called a gate limiter

1:19.5

and there was just an endless number of wires and quartz that that was really what occupied my mind

1:25.5

much more than how I performed the stock market.

1:28.6

Well, I had a lot to learn.

1:31.0

And today, more than 10 years after we started TIP, I wanted to summarize and outline 10 things I learned about investing.

1:40.0

Here we go. Celebrating 10 years and more than 150 million downloads.

1:48.0

You are listening to the Investors Podcast Network.

1:51.0

Since 2014, we studied the financial markets and read the books that

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