TIP736: How the Best Investors Execute w/ Clay Finck
In this episode, Clay reviews Lee Freeman-Shor's book — The Art of Execution. Freeman-Shor studied 45 of the world's top investors over seven years, revealing why investment success depends far more on execution than stock picking. Through analysis of nearly 1,000 investments, he discovered that even the best investors are wrong half the time, but their success comes from how they handle both winners and losers.
This episode provides essential lessons on the execution strategies that determine long-term investment success.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
06:07 - The three types of investor behaviors when facing losing positions and their outcomes.
08:37 - The psychological biases that trap investors in losing positions for years.
11:48 - Why even the world's best investors are wrong 51% of the time.
38:17 - Why selling winners early is more damaging than holding losers too long.
56:25 - How concentration beats diversification for generating superior long-term returns.
58:42 - Why execution matters more than stock picking for investment success.
01:00:36 - The five-point winner's checklist for executing investment strategies like top performers.
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.
Lee Freeman-Shor’s book: The Art of Execution.
Michael Lewis’ book: Moneyball.
The Intrinsic Value Podcast.
Shawn and Daniel’s episode on Reddit.
Related Episode: TIP709: The Art of Long-Term Investing w/ Francois Rochon.
Follow Clay 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
Hardblock
AnchorWatch
Human Rights Foundation
Unchained
Vanta
Shopify
Onramp
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
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Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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1:12:34
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1:12:34
BTC242: Bitcoin Core Vs. Knots w/ NVK (BItcoin Podcast)
Preston Pysh welcomes back NVK, renowned Bitcoin expert and founder of Coinkite, for an in-depth conversation on the future of Bitcoin, the evolving dynamics of its core development, and the promising rise of decentralized platforms like Nostr.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
02:01 - How Bitcoin's increasing price may sustain mining incentives post-halving
09:37 - The evolution from Satoshi’s original code to the current Bitcoin Core
14:15 - Insights into Bitcoin Knots and the separation of wallet and consensus code
19:41 - Critiques of Bitcoin’s development scene and current conference culture
20:09 - The controversy surrounding Bitcoin Core’s GitHub governance
24:22 - Debates around removing the OP_RETURN 83-byte limit
32:23 - Nostr’s potential to revolutionize identity and AI communication
35:45 - Key adoption challenges facing Nostr and possible solutions
44:44 - The philosophy and features behind Coinkite’s hardware wallets
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
NVK’s Company: ColdCard Bitcoin Hardware Wallets.
Join NOSTR at Primal.
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
Hardblock
AnchorWatch
Human Rights Foundation
Unchained
Vanta
Shopify
Onramp
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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1:03:06
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1:03:06
TIP735: Compounding with Character w/ Guy Spier
In this episode, Stig Brodersen speaks with Guy Spier who has outperformed the S&P 500 since 1997, with a 9.6% vs. 8.8% CAGR. They explore why Guy invested in The Economist, and how friendships, service, and living by an inner scorecard guide his life and investment philosophy.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
02:27 - Why Guy Spier decided to invest in The Economist.
13:16 - How Guy is living by his inner scorecard.
55:16 - Why friendships are there for a reason, a season, or a lifetime.
55:16 - How does Guy invest in friendships?
01:09:03 - How to facilitate thoughtful conversations with friends.
01:22:03 - How do you seek wisdom?
01:44:04 - How do you identify how to best be of service?
01:57:43 - What money can and can’t buy you.
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.
Stig’s interview with Guy Spier about his track record and risk.
Stig’s interview with Guy Spier about investing and life.
Stig and Preston’s interview with Guy Spier on his book, The Education of a Value Investor.
Stig and Preston’s interview with Guy Spier about his lunch with Warren Buffett.
Guy Spier’s book, The Education of a Value Investor – Read reviews of the book.
Subscribe to Guy Spier’s Free Newsletter.
Guy Spier’s podcast and website.
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
Human Rights Foundation
Onramp
Superhero Leadership
Unchained
Vanta
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
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2:11:48
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2:11:48
TIP734: My Investment Philosophy w/ Clay Finck
In this episode, Clay shares the key principles behind his personal investment approach. His approach has been shaped by over a decade of experience and lessons from great investors like Charlie Munger, Nick Sleep, and Chris Mayer. He explains how he builds a portfolio focused on high-quality businesses and long-term compounding. It’s a candid look at how he filters out the noise and plays the game on his own terms.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
03:19 - How Clay defines and pursues financial independence through investing.
05:22 - The lessons Clay learned from Charlie Munger, Nick Sleep, and Chris Mayer.
08:35 - How Clay constructs and thinks about his personal portfolio.
16:22 - Why great businesses often beat cheap stocks over the long run.
27:05 - What “sidecar investing” means and how to apply it.
58:08 - The importance of simplicity and ignoring market noise.
01:04:26 - Why patience may be the biggest edge in investing.
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.
Richard Zechhauser’s paper: Investing in the Unknown and Unknowable.
Related Episode: TIP598: A Tribute to Charlie Munger.
Related Episode: TIP492: The Best Investor You've Never Heard Of (Nick Sleep).
Related Episode: TIP677: Why Most Stocks Will Lose You Money w/ Hendrik Bessembinder.
Related Episode: TIP713: Why Serial Acquirers Outperform w/ Niklas Savas.
Clay’s podcast episode on Constellation Software.
Clay’s podcast episode on Topicus.
Clay’s podcast episode on Dino Polska.
Clay’s podcast episode on Booking Holdings.
Clay’s video on Lumine.
Follow Clay 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
Human Rights Foundation
Onramp
Superhero Leadership
Unchained
Vanta
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
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1:11:50
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1:11:50
BTC241: Bitcoin Treasury Companies w/ James Check (Checkmate) Bitcoin Podcast
James and Preston dissect the evolving cryptocurrency landscape—from market structure transitions and on-chain data missteps to Bitcoin mining incentives and the cutting-edge strategies behind Bitcoin Treasury companies.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
02:47 - Lessons learned from the 2020-2021 crypto cycle
04:59 - Why the crypto market is shifting from spot to leverage-driven models
05:54 - The role of futures and ETFs in today’s low-activity network
10:42 - How mining subsidies influence innovation and decentralization
14:08 - Why fees are crucial for protecting Bitcoin from censorship
19:32 - How Bitcoin’s dominance affects altcoin cycles
26:35 - Insights into tokenized sovereign debt and blockchain scalability
32:15 - The potential long-term shift in global KYC regulations
33:13 - The rise and risks of Bitcoin Treasury companies
38:53 - Key differences between MicroStrategy and competitors
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
Related resource: Checkmate’s substack.
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
Human Rights Foundation
Onramp
Superhero Leadership
Unchained
Vanta
Shopify
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Acerca de We Study Billionaires - The Investor’s Podcast Network
We interview and study famous financial billionaires, including Warren Buffett, Ray Dalio, and Howard Marks, and teach you what we learn and how you can apply their investment strategies in the stock market.
We Study Billionaires is the largest stock investing podcast show in the world with 180,000,000+ downloads and is hosted by Stig Brodersen, Preston Pysh, William Green, Clay Finck, and Kyle Grieve.
This podcast also includes the Richer Wiser Happier series hosted by best-selling author William Green. William regularly interviews legendary investors such as Mohnish Pabrai and Guy Spier, exploring what they can teach us about how to succeed in markets and life.
And finally, our Bitcoin Fundamentals series is hosted by Preston Pysh, where he interviews prominent figures in the Bitcoin and macroeconomic space. To learn more about TIP, you can visit theinvestorspodcast.com or subscribe to our free daily newsletter here.
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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