🇺🇸 United States Episodes

My guests this week don't need to be introduced. In celebration of the one year anniversary of invest like the best, I asked Josh Brown, Mike Batnick, and Barry Ritholtz to join me for a hour, during which I spent more time laughing than asking questions. I chose this team because they are the pioneers of mold breaking honesty and personality in our industry. They all figured out that just being themselves yields incredible results. This is a strategy that everyone should try, but very few do. Honesty and transparency require vulnerability, which is hard for most of us. I still struggle with it. But the evidence is in. The Ritholtz team has grown as fast as almost any RIA. Listen to this and tell me you wouldn't want to spend your career working with people this friendly, funny and open. Hell, I want to give them some money just so I have an excuse to drop by more often.  Thanks to everyone who has listened in the past year. We are past 1.25mm listens, and growing fast. You own this thing as much as I do, because the size helps me penetrate deeper and get the best people, which begets more listeners. This podcast is one hell of a discovery machine, and the first year was our warm up. We have a ton of new angles, formats, and events coming in year two. Stay tuned. But first, time to laugh in celebration of year one. Please enjoy my conversation with team Ritholtz For comprehensive show notes on this episode go to http://investorfieldguide.com/ritholtz For more episodes go to InvestorFieldGuide.com/podcast. To get involved with Project Frontier, head to InvestorFieldGuide.com/frontier. Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub. Follow Patrick on Twitter at @patrick_oshag   Links Referenced Barry @ritholtz on twitter a16z Podcast Scott Galloway and Aswath Damodaran on Bitcoin vs Gold Latest 'These Are the Goods' post   Show Notes 2:35 – (First question) – What stock best represents you  5:09 – How was this team assembled at Ritholtz  8:50 – Why larger asset management firms are slow to pivot on new technology  10:00 – The humor of Barry @ritholtz on twitter  11:48 – What technology channels are working best 13:08 – What would happen in a Ritholtz stock picking contest 15:19 – How do you keep investors from wanting to move money into or out of buzzworthy trades 20:23 – Pricing out the news and the value premium 23:41 – Why people want complexity and activity in their portfolios 29:51 – People always want to be a part of the next frontier, example bitcoin             31:08 – a16z Podcast 33:13 – Exploring research in action and living the investments 39:35 – Biggest argument against bitcoin could be the underlying utility and what will make it successful 45:13 – The Hindenburg Omen             46:34 - Scott Galloway and Aswath Damodaran on Bitcoin vs Gold 47:38 – How the relationship with clients has evolved 49:50 – Mike’s new book project that he is working on 51:41 – Why the Mark Twain chapter is the most interesting in his book thus far 53:32 – How a business should balance sales and marketing 58:09 – Who would they draft to the Ritholtz team             58:22 – Latest These Are the Goods post 1:05:18 – Kindest thing anyone has done   Learn More For more episodes go to InvestorFieldGuide.com/podcast.  Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub Follow Patrick on twitter at @patrick_oshag

W. Kamau Bell is a host, writer, and stand-up comic. Watch his show "United Shades of America" on CNN and check out his podcast "Politically Reactive." He also has a recently released book "The Awkward Thoughts of W. Kamau Bell" available on Amazon. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Another economic reality is possible -- one that values community, sustainability and resiliency instead of profit by any means necessary. Niki Okuk shares her case for cooperative economics and a vision for how working-class people can organize and own the businesses they work for, making decisions for themselves and enjoying the fruits of their labor. Hosted on Acast. See acast.com/privacy for more information.

It’s been twenty years since Mitch wrote about the most impactful life lessons he learned from his former professor, Morrie Schwartz, who was dying from ALS. Mitch chronicled their weekly visits in one of the best-selling memoirs of all time, “Tuesdays with Morrie,” which has been translated in 41 languages. Oprah and Mitch discuss how Morrie’s lessons continue to resonate because of their universal truths about life and happiness.

Joe sits down with Brendan Schaub to discuss the recent fight between Floyd Mayweather & Conor McGregor. Learn more about your ad choices. Visit podcastchoices.com/adchoices

The Masters of Scale team brings you a special blend of leadership tips from Season One guests — including clips we haven’t aired yet. In this bonus episode, we’ll share our favorite insights from Y Combinator’s Sam Altman, Zynga’s Mark Pincus and more.Subscribe to the Masters of Scale weekly newsletter: https://mastersofscale.com/subscribeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

What is "infrastructure" actually? In the 19th and 20th century, that usually meant the transportation systems supporting roadways, airports, trains... but we don't even really know yet what it might potentially mean in the age of rapidly changing te...

Every artist has a name, and every artist has a story. Laolu Senbanjo's story started in Nigeria, where he was surrounded by the culture and mythology of the Yoruba, and brought him to law school, to New York and eventually to work on Beyoncé's "Lemonade." He shares what he calls "The Sacred Art of the Ori," art that uses skin as canvas and connects artist and muse through mind, body and soul. Hosted on Acast. See acast.com/privacy for more information.

with Ben Horowitz, Scott Kupor, and Caroline Moon “The only unforgivable sin in business is to run out of cash” [so said Harold Geneen], yet startup CEOs “always act on leading indicators of good news, and lagging indicators of bad news” [according ...

Raffaella Sadun, a professor at Harvard Business School, explains why seemingly common-sensical management practices are so hard to implement. After surveying thousands of organizations across the world, she found that only 6% of firms qualified as highly well-managed — and that managers mistakenly assumed they were all above average. She is a co-author of “Why Do We Undervalue Competent Management?” in the September–October 2017 issue of Harvard Business Review.

Your cells are coated with sugars that store information and speak a secret language. What are they trying to tell us? Your blood type, for one -- and, potentially, that you have cancer. Chemical biologist Carolyn Bertozzi researches how sugars on cancerous cells interact with (and sometimes trick) your immune system. Learn more about how your body detects cancer and how the latest cancer-fighting medicines could help your immune system beat the disease. Hosted on Acast. See acast.com/privacy for more information.

Meet the "ems" -- machines that emulate human brains and can think, feel and work just like the brains they're copied from. Economist and social scientist Robin Hanson describes a possible future when ems take over the global economy, running on superfast computers and copying themselves to multitask, leaving humans with only one choice: to retire, forever. Glimpse a strange future as Hanson describes what could happen if robots ruled the earth. Hosted on Acast. See acast.com/privacy for more information.

Sean Carroll is a cosmologist and physics professor specializing in dark energy and general relativity. He is a research professor in the Department of Physics at the California Institute of Technology. Check out his books and more of his work at https://www.preposterousuniverse.com/ Learn more about your ad choices. Visit podcastchoices.com/adchoices

With his signature charm and searching insight, David Whyte meditates on the frontiers of the past, present and future, sharing two poems inspired by his niece's hike along El Camino de Santiago de Compostela in Spain. Hosted on Acast. See acast.com/privacy for more information.

Grammy award-winning singer/songwriter Alanis Morissette reflects on passion, art and the spiritual lessons that helped her become grounded. Alanis is candid about the toll that fame took on her life. After admitting she didn’t laugh for two years, Alanis shares what she has come to realize about happiness: “I think happiness is a state, and it’s a temporary state. … Sitting in the seat of awareness can give some relief … but I wouldn’t call it happiness. I would call it the bliss, or the joy, of consciousness.”

Peter Schiff is an American businessman, investment broker, author and financial commentator. Schiff is CEO and chief global strategist of Euro Pacific Capital Inc. He also hosts his own podcast called "The Peter Schiff Podcast" available on Spotify and at SchiffRadio.com Learn more about your ad choices. Visit podcastchoices.com/adchoices

Should a driverless car kill you if it means saving five pedestrians? In this primer on the social dilemmas of driverless cars, Iyad Rahwan explores how the technology will challenge our morality and explains his work collecting data from real people on the ethical trade-offs we're willing (and not willing) to make. Hosted on Acast. See acast.com/privacy for more information.

Algorithms decide who gets a loan, who gets a job interview, who gets insurance and much more -- but they don't automatically make things fair, and they're often far from scientific. Mathematician and data scientist Cathy O'Neil coined a term for algorithms that are secret, important and harmful: "weapons of math destruction." Learn more about the hidden agendas behind these supposedly objective formulas and why we need to start building better ones. Hosted on Acast. See acast.com/privacy for more information.

My guest this week is Pat Dorsey, who was the longtime director of equity research at Morningstar, where he specialized in economic moats: sources of sustained competitive advantage that allow a few companies to deliver huge returns over time. Several years ago he left Morningstar to form his own asset management firm, Dorsey asset management, and build a portfolio of companies with wide moats like those he studied at Morningstar. And while moats are critical, equally important is how companies allocate the capital generated--or made possible--by the existence of the moat.   A special thank you to Brian Bares who introduced me to Pat, and to Will Thorndike--an earlier guest on the show. In the vast majority of conversations you hear on this show, I'm meeting the guest for the first time. I mention this to encourage you to connect me with anyone whose story or way of looking at the world might resonate. Always feel free to contact me with ideas.   Pat and I begin our discussion with the key differences between the sell side and the buy side, and then discuss all aspects of moats and capital allocation.    For comprehensive show notes on this episode go to http://investorfieldguide.com/dorsey For more episodes go to InvestorFieldGuide.com/podcast. To get involved with Project Frontier, head to InvestorFieldGuide.com/frontier. Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub. Follow Patrick on Twitter at @patrick_oshag   Show Notes 2:23 – (First question) – Transition from the sell side to the buy side and the biggest surprise  3:40 – What is a moat  5:16 – What part of the stock market universe has a moat  6:57 – Pat’s framework for identifying moat, starting with intangibles  8:32 – The power of brands  9:44 – what chance does an upstart have to come in and usurp a well-established brand    12:24 – Switching costs as part of the framework for identifying a moat  14:55 – The third component of identifying a moat, network effects, and what businesses should do to effectively build one  17:29 – Last component, cost advantages/economies of scale  19:29 – How do you analyze these four components into an investing framework that can be built into an actual strategy  21:13 – How does Pat think about this from a mis-pricing standpoint  23:37  – How does Pat incorporate current price of a company in consideration for future returns when pricing a moat  25:39 – How should a company with a moat operate to protect that characteristic, especially when it comes to their capital allocation  26:51 – Which characteristic of a moat does Pat find most intriguing  30:35 – What makes for good and smart capital allocation  35:58 – What is Pat’s process for identifying the best investment opportunities  38:38 – What are good economics when looking at a company  41:03 – If Pat could take any business, but have to swap leadership, what would he choose.  44:13 – Back to his process of finding investment opportunities  46:05 – Kindest thing anyone has ever done for Pat   Learn More For more episodes go to InvestorFieldGuide.com/podcast.  Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub Follow Patrick on twitter at @patrick_oshag

"Music is everywhere, and it is in everything," says musician, student and TED-Ed Clubs star Anika Paulson. Guitar in hand, she plays through the beats of her life in an exploration of how music connects us and makes us what we are. Hosted on Acast. See acast.com/privacy for more information.