TIP717: Berkshire Hathaway 2025 w/ Chris Bloomstran

In this episode, Clay dives into Buffett and Munger Unscripted by Alex Morris. This book is a treasure trove of timeless investing wisdom from decades of Berkshire Hathaway annual meetings.  The episode highlights Warren and Charlie’s most powerful lessons on capital allocation, business quality, temperament, and how to achieve long-term investing success. Whether you're a lifelong Buffett fan or just stepping into the world of value investing, this episode is packed with insights you won’t want to miss. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:48 - Why Buffett and Munger believe there’s no such thing as non-value investment. 07:45 - Why Buffett avoids complex financial models and sticks to common sense. 08:05 - The traits that define a truly great business—and why those are so rare. 14:57 - How capital allocation drives long-term shareholder value and Berkshire’s success. 24:29 - How Buffett thinks about share buybacks and dividends. 26:27 - The importance of understanding and trusting management and company culture. 38:53 - Why most of Berkshire’s success came from just a handful of decisions. 49:48 - How Buffett and Munger handle market volatility and avoid emotional decisions. 56:26 - The role of temperament in investing and why intelligence alone isn’t enough. 58:15 - Why short selling rarely works and why index funds are still a powerful tool. And so much more! Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more ⁠here⁠. Join the exclusive ⁠TIP Mastermind Community⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Alex Morris’ book: Buffett & Munger Unscripted. Alex’s research service: The Science of Hitting. Book mentioned: The Essays of Warren Buffett. Mentioned Episode: TIP697: The Secret to Buffett's Business Success w/ Lawrence Cunningham. Mentioned Episode: TIP550: Masterclass w/ Mohnish Pabrai. Mentioned Episode: TIP693: The Power Law w/ Clay Finck. Mentioned Episode: TIP626: Intelligent & Rational Long-Term Investing w/ Francois Rochon. Mentioned Episode: TIP620: The Intelligent Investor by Benjamin Graham. Follow Alex on X and LinkedIn.  Follow Clay on ⁠LinkedIn⁠ & ⁠X⁠. 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? Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠The Intrinsic Value Newsletter⁠. Check out our ⁠We Study Billionaires Starter Packs⁠. Follow our official social media accounts: ⁠X (Twitter)⁠ | ⁠LinkedIn⁠ | ⁠Instagram⁠ | ⁠Facebook⁠ | ⁠TikTok⁠. 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. Learn how to better start, manage, and grow your business with the ⁠best business podcasts⁠. SPONSORS Support our free podcast by supporting our ⁠sponsors⁠: SimpleMining AnchorWatch Found DeleteMe Fundrise Vanta The Bitcoin Way Indeed Shopify 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 Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

This episode explores how Bitcoin investors can build resilient portfolios, respond to economic slowdowns, and make smarter money and time decisions. Expert insights on real estate trends, estate planning, and hedging strategies round out a comprehensive discussion. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 03:45 - The sustainability of Bitcoin's rally and long-term price outlooks. 05:35 - Trends in Bitcoiners' real estate investments amid housing illiquidity. 07:43 - How to interpret downgraded global growth forecasts for personal planning. 11:12 - How Bitcoiners can diversify portfolios while managing volatility. 19:45 - Entrepreneurial vs. employment decisions in today’s financial climate. 20:37 - Hedging strategies for crypto portfolios under regulatory uncertainty. 21:05 - Shifts in investor behavior during inflationary slowdowns. 21:22: The impact of macroeconomic trends on Bitcoin investment strategies. 29:00 - The estate and tax implications of a Strategic Bitcoin Reserve. 36:09 - Lifestyle shifts prioritizing time over income in economic downturns. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Jim’s website. Jim’s⁠ X Account⁠. 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? Join the exclusive ⁠TIP Mastermind Community⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Follow our official social media accounts: ⁠X (Twitter)⁠ | ⁠LinkedIn⁠ | | ⁠Instagram⁠ | ⁠Facebook⁠ | ⁠TikTok⁠. Check out our ⁠Bitcoin Fundamentals 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. Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠The Intrinsic Value Newsletter⁠. Learn how to better start, manage, and grow your business with the ⁠best business podcasts⁠. SPONSORS Support our free podcast by supporting our ⁠sponsors⁠: SimpleMining AnchorWatch Found DeleteMe Fundrise Vanta The Bitcoin Way Indeed Shopify Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

On today’s episode, Kyle Grieve explores the DNA of Amazon by tracing Jeff Bezos’s early influences, strategic decisions, and relentless focus on customer experience, revealing how a bold vision and founder-led culture built one of the most dominant businesses in history. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:12 - How Bezos’s childhood brilliance helped forged Amazon’s DNA. 03:22 - Why self-reliance helped Bezos repeatedly invent out of failure. 06:02 - How DE Shaw inspired Amazon’s hiring bar and secretive innovations. 14:18 - Why founder-led companies tripled returns vs peers from 1990–2014. 17:07 - How Amazon used user reviews to build trust and boost Amazon’s moat. 24:20 - How one-click ordering deepened customer loyalty and competitive defensibility. 41:05 - The importance of Amazon Prime and how it affected customer churn and loyalty. 51:51 - How AWS was born. 54:27 - How Amazon has used its scale and competitive positioning to acquire competitors. And so much more! Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more here. Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Read The Everything Store: Jeff Bezos and the Age of Amazon here. Read Invent and Wander: The Collected Writings of Jeff Bezos here. Read Delivering Happiness: A Path to Profits, Passion, and Purpose here. Follow Kyle on X 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? Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter. Check out our We Study Billionaires Starter Packs. Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. 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. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: SimpleMining AnchorWatch Found DeleteMe Fundrise Vanta The Bitcoin Way Indeed Shopify 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 Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Alex Gladstein unpacks the hidden power dynamics of financial privilege, the shifting terrain of surveillance, and why Bitcoin might be the most unexpected tool in the fight for human rights IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 08:23 - Why self-custody is essential to the philosophical core of financial freedom 13:12 - How grassroots Bitcoin movements are reshaping power dynamics 14:02 - The complex role of social media in Bitcoin advocacy 14:27 - What recent developments are challenging or reinforcing core beliefs 16:07 - How Bitcoin acts as a stealth disruptor of corrupt systems 17:29 - Real-world humanitarian uses of Bitcoin, including crisis response 18:49 - The implications of rising financial surveillance—even in democracies 19:43 - Why financial privilege blinds many in the West to global monetary injustice 21:07 - Where the next frontier of Bitcoin and human rights may emerge 49:03 - How writing a full-length book reframed the guest’s understanding of scale and resistance Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Alex’s X Account. Human Rights Foundation. Related Video: Princess of the Yen. Bitcoin Is A Trojan Horse For Freedom by Alex Gladstein. Alex’s books: Check Your Financial Privilege and Hidden Repression: How the IMF and World Bank Sell Exploitation as Development. 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? Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok. Check out our Bitcoin Fundamentals 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. Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: SimpleMining AnchorWatch Found DeleteMe Fundrise Vanta The Bitcoin Way Indeed Shopify Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

In this episode, William Green chats with Christopher Begg, an exceptional hedge fund manager who is the CEO & CIO of East Coast Asset Management. Chris has also taught for many years at Columbia Business School, where he teaches the prestigious Security Analysis course that Warren Buffett took with Ben Graham in 1951. Here, Chris discusses how to stay calm amid market turmoil; how he identifies great businesses; why Tesla could deliver extraordinary long-term returns; & how he builds a balanced life in 7 key areas. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 03:54 - How Christopher Begg handles extreme market turmoil. 04:07 - Why he loves volatility & how he exploits it.  06:27 - What 3 qualities he seeks when identifying an exceptional business.  18:19 - Why temperament is the key to investment success.  28:06 - How Perimeter Solutions embodies what he looks for in a stock. 31:49 - How value investing has evolved to what he calls “Value 3.0.” 42:15 - Why Tesla could deliver “extraordinary” returns over many years.  42:15 - What he thinks of Elon Musk.  01:11:13 - Why the secret of success is “persistent incremental progress.” 01:13:48 - How a 66-day challenge helped Chris to nurture good habits. 01:26:06 - How Buffett & Munger won the investing game with “class & virtue.” 01:34:18 - How to design a balanced, joyful, & spacious life.  Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more here. Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Chris Begg’s investment firm, East Coast Asset Management. Marcel Proust's In Search of Lost Time. Tanya Luhrmann's How God Becomes Real. Maurice Merleau-Ponty's Phenomenology of Perception. Douglas Adams' The Hitchhiker’s Guide to the Galaxy. Richard Bach's Jonathan Livingston Seagull. James Carse's Finite & Infinite Games. David Whyte's Consolations & Consolations II. Madeleine Green's song discussed by William & Chris. William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book. Follow William Green on X. 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? Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter. Check out our We Study Billionaires Starter Packs. Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. 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. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: SimpleMining AnchorWatch Found DeleteMe Fundrise Vanta The Bitcoin Way Indeed Shopify 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 Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm