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INVESTOR IN THE FAMILY Radio

The average DIY investor has annual returns of 2.9%. Don't be that guy. Learn to invest with Investor in the Family through our community, training, and education. This podcast exists to help you learn to invest. Whether you've been in the market for years or are just beginning to dip your toes in the water. Our show features interviews with seasoned, professional veterans with the goal of providing an enjoyable and tangible learning opportunity for all of our listeners. Seeking Alpha Certified
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Now displaying: Category: general
Jun 2, 2017

Welcome to Episode 6 of the "Becoming Buffett" Series!

This week we discuss the 1970 letter to Berkshire Hathaway shareholders.

Buffett's annual letters book: http://amzn.to/2ogVi4U

Some brief notes:

1970

 First letter signed by Buffett

  • Very diverse earnings across various operations
    • Bank had record earnings
    • Insurance had some setbacks but still excellent returns
    • Textile became more and more difficult and broke-even
    • Highlights the value of diversifying
  • Overall BH return of ~10%
    • This is far better than would have been the case if BH had remained exclusively devoted to the textile business
    • Again, reinforces why strategic diversification can be so valuable
  • Continue to face strong headwinds in textile operations
    • Actively working to make the most of the situation, including costly decisions to BH and employees
    • Are we willing to make an honest assessment of our “business (household)” and make appropriate changes? Ex: cut expenses, take a step of faith and try to start a new income stream, etc.
  • New insurance division will take years before a real evaluation can be made (long-term mindset)
    • How long are we willing to wait for an investing thesis to play out?
    • What if an investment loses money for 3 years, then returns 20%+ for 10 years straight, would that be worth the wait?
  • Surety business
    • Operated at a significant underwriting loss
    • Contractor’s bond field was a disappointment
    • Even Buffett and BH make investments that don't’ appear to work out, nobody is perfect at this!
  • Launched a new business/subsidiary out of National Indemnity (insurance operation) and plan to open a new one in 1971
    • BH began launching new companies/subsidiaries
    • This is a new method, methods so far:
      • Full acquisitions
      • Common stocks (no longer)
      • Starting new businesses
      • What options are on the table for you and I?
  • Buffett is quick to celebrate his operational managers and give them credit
    • Strong management is central to his acquisition philosophy
    • Are you surrounding yourself with people smarter than you?
    • Are you trusting your capital to people smarter than you?
    • Are you humble enough to admit and act on this?
    • Bonus: Would you hire yourself to manage your business?

http://investorinthefamily.com/

 

Sep 12, 2016

Lawrence Fuller has been investing professionally since the early 1990's and has plenty of battle scars from the Tech Bubble. Those scars set him up to whether the Great Recession a bit better and both of these events have him growing increasingly cautious today.

In this interview, we discuss his recent article "Sell Everything!" where he cites the current caution of Jeffrey Gundlach, Bill Gross, Stanley Druckenmiller, Jeremy Grantham, George Soros, and Carl Icahn, to name a few.

A few highlights:

  • Details about his "Tactical Approach" to managing his portfolio.
  • What he has in common with Jeffrey Gundlach.
  • Details about what he likes to call the "Monetary policy of lunacy."
  • The dangers of getting lazy in a market that only goes up.
  • Why it matters that everyone is looking bottom up and not top down in reference to stocks.
  • What it was like to wake up with heart palpitations every Sunday night during the last financial crisis.
  • How no one really knows how markets work today and why should scare us.
  • The danger of assuming "algos" will step in to prevent market crashes.
  • What he would do today if he knew a fiscal black swan event would happen in one year.
  • What he thinks may trigger such an event.
  • Are government bonds the biggest financial bubble in history?

I hope you enjoy the interview.

 http://investorinthefamily.com/

Jul 18, 2016

Today’s guest is long-term investment expert, Ian Bezek. Ian has had an interest in the stock market and investment industry since he was a young boy and his passion has driven him to an impressive career. After opening his first brokerage account at the age of 18, he attended college to enhance his knowledge and skills in the investment world. While in college, he began investing his time and money into researching market while growing his portfolio. 

After graduating college, Ian was recruited to work as an analyst at a large hedge funds company in New York, where he worked for approximately three years. Today, Ian shares his views on market volatility, long-term investments, short-sales, and options as well as provides valuable words of wisdom for new and experienced investors. 

Please welcome Ian Bezek to the show!

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Here’s a recap of today’s episode: 

  • Who is Ian and what inspired him to become an investor at the tender age of 11? 
  • What was his college experience like as a student and investor? 
  • What type of things did he do as an 11 to 18-year-old investor to learn about stocks and investing and make the right investment decisions at such a young age? 
  • How valuable is market history to a private investor? 
  • What was the most valuable lesson Ian learned while doing market history research? 
  • What is Ian’s opinion of the “too early or too late’ dilemma when buying back in during a market crash? 
  • How does he approach PEO’s? 
  • What are his thoughts on how to make sure you have cash when a market crash is looming? 
  • How does he strategize his “insurance cash” investments? 
  • When was his last ETF success? 

 

Let’s get personal a little: 

  • Ian shares what it’s like to manage his mother’s portfolio. 
  • Were his parents supportive of his decision to become an investor before and after college? 
  • Did his college friends share his passion and interests in his investment hobby? 

 

Ian Bezek’s Words of Wisdom: 

  • Focus on areas where you can have advantages over the corporate investment pros. 
  • Research market history. 

“The strike price hardly matters because volatility is what ultimately drives the price” – Ian Bezek 

 

Links: 

Jul 26, 2015

MarketWatch columnist, founder of FundamentalTrends.com, and Bluemound Asset Management, Kirk Spano joins Brian from INVESTOR IN THE FAMILY for discussion about the power of demographics, the difference between players checker vs chess when investing, and all sorts of major trends from electric vehicles to nuclear power. I hope you enjoy it as much as I did.

Jul 19, 2015

MarketWatch columnist, founder of FundamentalTrends.com, and Bluemound Asset Management, Kirk Spano joins Brian from INVESTOR IN THE FAMILY for discussion about the power of demographics, the difference between players checker vs chess when investing, and all sorts of major trends from electric vehicles to nuclear power. I hope you enjoy it as much as I did.

Jul 12, 2015

Long-time commodities investor Andy Hecht and author of How to Make Money with Commodities joins Brian from INVESTOR IN THE FAMILY for discussion about where and why he sees gold falling from current levels and when he is looking to buy.

Jul 5, 2015

Long-time commodities investor Andy Hecht and author of How to Make Money with Commodities joins Brian from INVESTOR IN THE FAMILY for discussion about big trends that are impacting natural gas and oil and where he sees opportunity in coming months.

Jun 28, 2015

Retail investor Stephen Moffatt joins Brian from INVESTOR IN THE FAMILY for a discussion about laying foundations for retirement early a different approaches to risk when it comes to investing.

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