Podcast appearances and mentions of christopher mayer

Play Episode Listen Later Dec 2, 2024 75:54

It's Chris' third time on the show -- check out the earlier episodes, both are among the top ten all-time downloads. My guest today is Chris Mayer, he is a professional investor, best-selling author, expert on general semantics and more. He is a portfolio manager and co-founder of Woodlock House Family Capital, and the author of 100 bagger, How do you know, Dear Fellow Time Binder, World Right Side Up, and Invest Like a Dealmaker. It's his third time on the show — consider listening to the previous two episodes before or along with this. It's always such a joy to speak with Chris, and this episode is no different. Enjoy! Summary In this conversation, Chris Mayer discusses the nuances of investing, emphasizing the importance of clear communication with investors, the long-term perspective of family wealth, and the evolution of investment research. He highlights the significance of patience in compounding, the role of catalysts in stock performance, and the need to embrace uncertainty. Chris also contrasts dynamic and static value investing, explores the impact of passive investing on market dynamics, and reflects on how general semantics has influenced his investment thinking. In this conversation, Chris and Bogumil explore the themes of lifelong learning, the importance of humility in understanding knowledge, and the principles of investing that should be passed down to future generations. They discuss the mindset of an immortal investor, the impact of news on market perceptions, and the significance of quality over startup risks in investment strategies. The conversation also delves into cultivating patience in an impatient world, the nature of success and failure, and the subjective understanding of quality in business. Podcast Program – Disclosure Statement Blue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm's employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives, and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance.

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Chris Mayer 100 Baggers Portfolio: Constellation Software + Spinoffs

Play Episode Listen Later May 30, 2024 18:18

We take a look at 100 Baggers book author and fund manager Chris Mayer's stock portfolio, to see which potential 10X to 100X stocks he has bought. We also see what he's said about some of those potential multi-bagger stocks. Timestamps 00:28 Chris Mayer portfolio 02:07 Chris Mayer on 3 potential multi-bagger stocks 07:36 Portfolio stocks from large caps to small caps Related episodes: Chris Mayer on Constellation Software + My Thoughts https://youtu.be/ookiKuehQ7o Chuck Akre Said This About How to Find 100 Baggers https://youtu.be/xoKe1AvquTI Referenced video: 2 Stocks With 100X Potential As An Investor | Chris Mayer https://youtu.be/e06RDtmgsWM Recommended investing book: 100 Baggers: Stocks That Return 100-to-1 and How to Find Them by Christopher Mayer (referral link) https://amzn.to/4dRxmLA Join The Art of Value Patreon community for exclusive content I don't share anywhere else: https:/www.patreon.com/TheArtofValue I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalue AeroPress - Be your Own Barista. A new kind of coffee press for daily use (referral link): https://amzn.to/3WqsNBS Disclaimer: I am not a financial adviser and nothing in this content is financial advice. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision. --- Send in a voice message: https://podcasters.spotify.com/pod/show/theartofvalue/message

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Chris Mayer 100 Baggers Portfolio: Constellation Software + Spinoffs

Moody's Talks - Inside Economics

Play Episode Listen Later May 30, 2024 18:18

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11 Best Stocks to Buy Now and Hold Forever in 2024!?

Global Value

Play Episode Listen Later Apr 19, 2024 13:11

In this video, we'll look at 11 of the best buy and hold forever stocks to consider in 2024. These stocks are from Christopher Mayer's Portfolio, Author of 100-Baggers and the Manager of Woodlock House Family Capital.

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Mayer on Mortgages and Multifamily

Play Episode Listen Later Dec 1, 2023 88:22

Chris Mayer, Professor of Real Estate Economics at Columbia University and CEO of Longbridge Financial, joins Mark, Marisa, and Cris to discuss reverse mortgages and the state of the residential real estate market. While the single-family market may tread water, multifamily may be in for a serious correction. Mark wonders if we can avoid the fallout from this economic meteor. For more about Christopher Mayer, click hereFollow Mark Zandi @MarkZandi, Cris deRitis @MiddleWayEcon, and Marisa DiNatale on LinkedIn for additional insight.

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Next Compounding Beast? Constellation Software Spinoff Topicus

Play Episode Listen Later Nov 10, 2023 14:46

I discuss the recent earnings and future potential of company Topicus, a serial acquirer of small software companies. It's a spin-off from the much larger Constellation Software, which was founded and is led by superb capital allocator Mark Leonard. Will Topicus be able to compound at a similar rate to how Constellation Software has for well over two decades? See below timestamps: 00:00 Topicus investment thesis in relation to Constellation Software 01:36 Topicus earnings: cash flow more than doubles! 03:54 Stock price performance and potential - 10x or more? 06:03 Topicus Q3 2023 Headline numbers 07:52 Topicus historical metrics - future quality compounder? 11:07 Relevant Mark Leonard shareholder letter - reinvesting all cash produced 14:09 Final thoughts Related episodes: Primer Analysis: Mark Leonard, Constellation Software & Topicus https://youtu.be/z0xnvhfNbOI Mohnish Pabrai Talks Constellation Software & Mark Leonard https://youtu.be/xPI773-AE-I Show your appreciation by buying JJ a coffee: https://www.buymeacoffee.com/jjprojects Investing book mentioned in the episode: 100 Baggers: Stocks That Return 100-to-1 and How To Find Them by Christopher Mayer (refferal link) https://amzn.to/40yQHeb Using a referral link helps support the pod, thanks! I use GuruFocus for historical, financial and valuation data, screeners, charts and comparison tools, to help me make smarter long-term investing decisions (refferal link): https://www.gurufocus.com/?r=2c95d5930bb2537b2e0265075fb66581 Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision. --- Send in a voice message: https://podcasters.spotify.com/pod/show/theartofvalue/message

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Next Compounding Beast? Constellation Software Spinoff Topicus

Equity Mates Investing Podcast

Play Episode Listen Later Nov 10, 2023 14:46

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Expert: Christopher Mayer - The search for 100-baggers

Play Episode Listen Later Jul 26, 2023 33:10

This episode Alec chats to Christopher Mayer - the author of 100-baggers: Stocks that return 100-to-1 and how to find them and the cofounder and portfolio manager of Woodlock House Family Capital. Alec describes him as an epic guest, and it is a pretty epic conversation. Together they chat about the concept of a 100 Bagger, he chats about a couple of examples, and they look at common traits they all share. Then Chris outlines where his search for 100-baggers start, and how he filters the investment universe. Want more Equity Mates? Click here. *****In the spirit of reconciliation, Equity Mates Media and the hosts of Equity Mates Investing Podcast acknowledge the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people today. *****Equity Mates Investing Podcast is a product of Equity Mates Media. This podcast is intended for education and entertainment purposes. Any advice is general advice only, and has not taken into account your personal financial circumstances, needs or objectives. Before acting on general advice, you should consider if it is relevant to your needs and read the relevant Product Disclosure Statement. And if you are unsure, please speak to a financial professional. Equity Mates Media operates under Australian Financial Services Licence 540697.Equity Mates is part of the Acast Creator Network. Hosted on Acast. See acast.com/privacy for more information.

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Christopher Mayer: How Do You Know? A Guide to Clear Thinking About Wall Street, Investing, and Life & Dear Fellow Time-Binder: Letters on General Semantics

The SharePickers Podcast with Justin Waite

Play Episode Listen Later Jul 17, 2023 72:23

Christopher Mayer (Author of 100-Baggers) - How Do You Know? A Guide to Clear Thinking About Wall Street, Investing and Life & Dear Fellow Time-Binder: Letters on General Semantics. I'm always excited to have Chris on the show, it's his second appearance, and we had as much fun, if not more, as last time. Christopher Mayer is the founder of Woodlock House Family Capital and author of several books, including 100 Baggers. Before starting Woodlock House (which went live in January 2019), Mayer worked with Bonner & Partners and the Bonner family office. He was the editor of Capital & Crisis, published by Agora Financial from 2004-2015. He was a corporate banker from 1994-2004 and graduated magna cum laude with a degree in finance from the University of Maryland. He also has an MBA from the same institution. He is the author of Invest Like A Dealmaker: Secrets of a Former Banking Insider (2008), World Right Side Up: Investing Across Six Continents (2012), 100 Baggers: Stocks that Return 100-to-1 and How to Find Them (2015) and How Do You Know? A Guide to Thinking Clearly About Wall Street, Investing and Life (2018). Dear Fellow Time-Binder: Letters on General Semantics. Today we focus on the last two books. Today: • We discussed Alfred Korzybski's concept of time-binding and its implications for human learning. • Chris emphasized understanding the limits of our knowledge as a form of wisdom. • We explored tools for effective transmission and retention of knowledge. • Chris talked about oversimplifying cause and effect and our tendency to use abstractions. • We discussed the idea of structural differential and its importance in interpreting reality. • Chris shared his perspective on how labels can influence investing decisions. • We delved into the differences between facts and inferences. • We discussed thought-provoking ideas like 1+1 not always equalling 2 and the possibility of rewriting history. • Chris introduced the concept of delayed reaction. • We discussed the need for a nuanced view of the world, moving beyond binary perspectives taught in school. • We talked about the binary view of success and failure, advocating for a more nuanced perspective. • We discussed misguided certainty and the problems it can cause. • Chris proposed Wendell Johnson's set of questions as a starting point for those new to semantics. • We left the best for last, and concluded by discussing the illusion of contentment tied to wealth accumulation ---- ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - My new book. To get regular updates and bonus content, please sign-up for my substack: ⁠⁠⁠⁠https://bogumilbaranowski.substack.com/⁠⁠⁠⁠ Follow me on Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/bogumil_nyc⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bogumil Baranowski⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Learn more about ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Sicart Associates, LLC⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. NEVER INVESTMENT ADVICE. IMPORTANT: As a reminder, the remarks in this interview represent the views, opinions, and experiences of the participants and are based upon information they believe to be reliable; however, Sicart Associates nor I have independently verified all such remarks. The content of this podcast is for general, informational purposes, and so are the opinions of members of Sicart Associates, a registered investment adviser, and guests of the show. This podcast does not constitute a recommendation to buy or sell any specific security or financial instruments or provide investment advice or service. Past performance is not indicative of future results. More information on Sicart Associates is available via its Form ADV disclosure documents available ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠adviserinfo.sec.gov⁠ --- Send in a voice message: https://podcasters.spotify.com/pod/show/talking-billions/message

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2537: 100 Baggers: Stocks That Return 100-to-1 and How To Find Them by Christopher Mayer

Play Episode Listen Later Jun 15, 2023 6:23

"100 Baggers: Stocks That Return 100-to-1 and How To Find Them" by Christopher Mayer is a book that explores the concept of finding stocks that have the potential to grow by 100 times their initial investment value. The author shares insights and strategies based on his extensive research and analysis of historical stock market data. The book emphasizes the importance of long-term investing and highlights the power of compounding returns over time. Mayer presents case studies of companies that have achieved remarkable growth and provides key principles and characteristics to look for when identifying potential 100-bagger stocks.

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Crisis Investing: An Apple, A Plague, and A Bubble

Play Episode Listen Later May 26, 2023 14:43

Let's get to NUMBER #1 together! Kindle at $0.99, Already TOP #2 in Finance & Wealth Management, TOP #3 in Stock Market Investing & Investing in Amazon Hot New Releases. Get your copy today! ⁠⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - My new book. Crisis Investing: An Apple, A Plague, and A Bubble Another sample essay for you to enjoy. “In the midst of every crisis lies great opportunity” – Albert Einstein This book is a chronological collection of 100 essays written over three years during the Global COVID Pandemic, with an added retrospective commentary. It is a treasure trove of everlasting investment principles shared through lessons, experiences, and memories from managing family fortunes through one of the most challenging periods for the economy and the stock market. As the author picked up his laptop and embarked on a personal journey, these essays were written in a midtown Manhattan high-rise office, two remote cabins in the woods, and the tropics, among other places. His perspective changed, while current events offered ample inspiration to write. "I highly recommend that anyone serious about long-term investing should not only add this book to their library but also include Bogumil in their investment ecosystem." - Guy Spier, a Zurich-based investor, the Author of The Education of a Value Investor, the manager of the Aquamarine Fund "Bogumil Baranowski's book, Crisis Investing, presents an insightful chronicle of the various challenges that investors faced during the pandemic era. With a wealth of experience as an investment advisor, Baranowski's collection of personal essays provides readers with invaluable lessons and advice on navigating markets and building wealth." - Lauren Templeton, Founder & Principal of Templeton & Philips Capital Management, LLC, the author with Scott Philipps of Investing the Templeton Way "For me, the years covered in your book have been a good test of core investment principles, especially being patient. Your book is a collection of wise observations made in real-time during those years and yet are timeless, as the best investment principles should be!" - Christopher Mayer, the Author of 100 Baggers: Stocks That Return 100-to-1 and How To Find Them “A valuable compilation which helps build the required mental & emotional resilience for the highly volatile world investors operate in.” - Gautam Baid, the Author of The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Managing Partner, Stellar Wealth Partners India Fund "Since I met him, I've been thoroughly impressed with Bogumil in many ways: His knowledge, passion for life and investing, preparation level, and thoughtfulness in every interaction and question he asks. For these reasons and many more, he's the perfect person to write the book on how to invest through a crisis, generally and specifically through the one we just lived through with the Covid pandemic." - Brad Barrett, Co-founder and Host of the ChooseFI Podcast "I believe in Bogumil, and I can say that he's one of the good guys in the finance space." - John Soforic, the Author of The Wealthy Gardener: Lessons on Prosperity ---- NEVER INVESTMENT ADVICE. IMPORTANT: As a reminder, the remarks in this interview represent the views, opinions, and experiences of the participants and are based upon information they believe to be reliable; however, Sicart Associates nor I have independently verified all such remarks. The content of this podcast is for general, informational purposes, and so are the opinions of members of Sicart Associates, a registered investment adviser, and guests of the show. This podcast does not constitute a recommendation to buy or sell any specific security or financial instruments or provide investment advice or service. Past performance is not indicative of future results. More information on Sicart Associates is available via its Form ADV disclosure documents available ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠adviserinfo.sec.gov⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. --- Send in a voice message: https://podcasters.spotify.com/pod/show/talking-billions/message

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Crisis Investing: Infinite Investing: How do we win a game that has no end?

Play Episode Listen Later May 25, 2023 10:29

Let's get to NUMBER #1 together! Kindle at $0.99, Already TOP #2 in Finance & Wealth Management, TOP #3 in Stock Market Investing & Investing in Amazon Hot New Releases. Get your copy today! ⁠⁠⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - My new book. Crisis Investing: Infinite Investing: How do we win a game that has no end? Another sample essay for you to enjoy. “In the midst of every crisis lies great opportunity” – Albert Einstein This book is a chronological collection of 100 essays written over three years during the Global COVID Pandemic, with an added retrospective commentary. It is a treasure trove of everlasting investment principles shared through lessons, experiences, and memories from managing family fortunes through one of the most challenging periods for the economy and the stock market. As the author picked up his laptop and embarked on a personal journey, these essays were written in a midtown Manhattan high-rise office, two remote cabins in the woods, and the tropics, among other places. His perspective changed, while current events offered ample inspiration to write. "I highly recommend that anyone serious about long-term investing should not only add this book to their library but also include Bogumil in their investment ecosystem." - Guy Spier, a Zurich-based investor, the Author of The Education of a Value Investor, the manager of the Aquamarine Fund "Bogumil Baranowski's book, Crisis Investing, presents an insightful chronicle of the various challenges that investors faced during the pandemic era. With a wealth of experience as an investment advisor, Baranowski's collection of personal essays provides readers with invaluable lessons and advice on navigating markets and building wealth." - Lauren Templeton, Founder & Principal of Templeton & Philips Capital Management, LLC, the author with Scott Philipps of Investing the Templeton Way "For me, the years covered in your book have been a good test of core investment principles, especially being patient. Your book is a collection of wise observations made in real-time during those years and yet are timeless, as the best investment principles should be!" - Christopher Mayer, the Author of 100 Baggers: Stocks That Return 100-to-1 and How To Find Them "Since I met him, I've been thoroughly impressed with Bogumil in many ways: His knowledge, passion for life and investing, preparation level, and thoughtfulness in every interaction and question he asks. For these reasons and many more, he's the perfect person to write the book on how to invest through a crisis, generally and specifically through the one we just lived through with the Covid pandemic." - Brad Barrett, Co-founder and Host of the ChooseFI Podcast "I believe in Bogumil, and I can say that he's one of the good guys in the finance space." - John Soforic, the Author of The Wealthy Gardener: Lessons on Prosperity ---- NEVER INVESTMENT ADVICE. IMPORTANT: As a reminder, the remarks in this interview represent the views, opinions, and experiences of the participants and are based upon information they believe to be reliable; however, Sicart Associates nor I have independently verified all such remarks. The content of this podcast is for general, informational purposes, and so are the opinions of members of Sicart Associates, a registered investment adviser, and guests of the show. This podcast does not constitute a recommendation to buy or sell any specific security or financial instruments or provide investment advice or service. Past performance is not indicative of future results. More information on Sicart Associates is available via its Form ADV disclosure documents available ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠adviserinfo.sec.gov⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. --- Send in a voice message: https://podcasters.spotify.com/pod/show/talking-billions/message

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Crisis Investing: Investing in Times of Pandemic

Play Episode Listen Later May 24, 2023 9:10

Let's get to NUMBER #1 together! Kindle at $0.99, Already TOP #2 in Finance & Wealth Management, TOP #3 in Stock Market Investing & Investing in Amazon Hot New Releases. Get your copy today! ⁠⁠⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - My new book. Another sample essay for you to enjoy. Crisis Investing: Investing in Times of Pandemic “In the midst of every crisis lies great opportunity” – Albert Einstein This book is a chronological collection of 100 essays written over three years during the Global COVID Pandemic, with an added retrospective commentary. It is a treasure trove of everlasting investment principles shared through lessons, experiences, and memories from managing family fortunes through one of the most challenging periods for the economy and the stock market. As the author picked up his laptop and embarked on a personal journey, these essays were written in a midtown Manhattan high-rise office, two remote cabins in the woods, and the tropics, among other places. His perspective changed, while current events offered ample inspiration to write. "I highly recommend that anyone serious about long-term investing should not only add this book to their library but also include Bogumil in their investment ecosystem." - Guy Spier, a Zurich-based investor, the Author of The Education of a Value Investor, the manager of the Aquamarine Fund "Bogumil Baranowski's book, Crisis Investing, presents an insightful chronicle of the various challenges that investors faced during the pandemic era. With a wealth of experience as an investment advisor, Baranowski's collection of personal essays provides readers with invaluable lessons and advice on navigating markets and building wealth." - Lauren Templeton, Founder & Principal of Templeton & Philips Capital Management, LLC, the author with Scott Philipps of Investing the Templeton Way "For me, the years covered in your book have been a good test of core investment principles, especially being patient. Your book is a collection of wise observations made in real-time during those years and yet are timeless, as the best investment principles should be!" - Christopher Mayer, the Author of 100 Baggers: Stocks That Return 100-to-1 and How To Find Them “A valuable compilation which helps build the required mental & emotional resilience for the highly volatile world investors operate in.” - Gautam Baid, the Author of The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Managing Partner, Stellar Wealth Partners India Fund "Since I met him, I've been thoroughly impressed with Bogumil in many ways: His knowledge, passion for life and investing, preparation level, and thoughtfulness in every interaction and question he asks. For these reasons and many more, he's the perfect person to write the book on how to invest through a crisis, generally and specifically through the one we just lived through with the Covid pandemic." - Brad Barrett, Co-founder and Host of the ChooseFI Podcast "I believe in Bogumil, and I can say that he's one of the good guys in the finance space." - John Soforic, the Author of The Wealthy Gardener: Lessons on Prosperity ---- NEVER INVESTMENT ADVICE. IMPORTANT: As a reminder, the remarks in this interview represent the views, opinions, and experiences of the participants and are based upon information they believe to be reliable; however, Sicart Associates nor I have independently verified all such remarks. The content of this podcast is for general, informational purposes, and so are the opinions of members of Sicart Associates, a registered investment adviser, and guests of the show. This podcast does not constitute a recommendation to buy or sell any specific security or financial instruments or provide investment advice or service. Past performance is not indicative of future results. More information on Sicart Associates is available via its Form ADV disclosure documents available ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠adviserinfo.sec.gov⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. --- Send in a voice message: https://podcasters.spotify.com/pod/show/talking-billions/message

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Crisis Investing: 100 Essays: Lessons from Managing Family Fortunes through the Global COVID Pandemic & Beyond - Introduction

Play Episode Listen Later May 22, 2023 6:48

Let's get to NUMBER #1 together! Kindle at $0.99, Already TOP #2 in Finance & Wealth Management, TOP #3 in Stock Market Investing & Investing in Amazon Hot New Releases. Get your copy today! ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - My new book. Crisis Investing: 100 Essays - Introduction “In the midst of every crisis lies great opportunity” – Albert Einstein ⁠⁠⁠⁠Crisis Investing: 100 Essays⁠⁠⁠⁠⁠ - My new book. This book is a chronological collection of 100 essays written over three years during the Global COVID Pandemic, with an added retrospective commentary. It is a treasure trove of everlasting investment principles shared through lessons, experiences, and memories from managing family fortunes through one of the most challenging periods for the economy and the stock market. As the author picked up his laptop and embarked on a personal journey, these essays were written in a midtown Manhattan high-rise office, two remote cabins in the woods, and the tropics, among other places. His perspective changed, while current events offered ample inspiration to write."I highly recommend that anyone serious about long-term investing should not only add this book to their library but also include Bogumil in their investment ecosystem." - Guy Spier, a Zurich-based investor, the Author of The Education of a Value Investor, the manager of the Aquamarine Fund"Bogumil Baranowski's book, Crisis Investing, presents an insightful chronicle of the various challenges that investors faced during the pandemic era. With a wealth of experience as an investment advisor, Baranowski's collection of personal essays provides readers with invaluable lessons and advice on navigating markets and building wealth." - Lauren Templeton, Founder & Principal of Templeton & Philips Capital Management, LLC, the author with Scott Philipps of Investing the Templeton Way"For me, the years covered in your book have been a good test of core investment principles, especially being patient. Your book is a collection of wise observations made in real-time during those years and yet are timeless, as the best investment principles should be!" - Christopher Mayer, the Author of 100 Baggers: Stocks That Return 100-to-1 and How To Find Them“A valuable compilation which helps build the required mental & emotional resilience for the highly volatile world investors operate in.” - Gautam Baid, the Author of The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Managing Partner, Stellar Wealth Partners India Fund"Since I met him, I've been thoroughly impressed with Bogumil in many ways: His knowledge, passion for life and investing, preparation level, and thoughtfulness in every interaction and question he asks. For these reasons and many more, he's the perfect person to write the book on how to invest through a crisis, generally and specifically through the one we just lived through with the Covid pandemic." - Brad Barrett, Co-founder and Host of the ChooseFI Podcast"I believe in Bogumil, and I can say that he's one of the good guys in the finance space." - John Soforic, the Author of The Wealthy Gardener: Lessons on Prosperity ---- NEVER INVESTMENT ADVICE. IMPORTANT: As a reminder, the remarks in this interview represent the views, opinions, and experiences of the participants and are based upon information they believe to be reliable; however, Sicart Associates nor I have independently verified all such remarks. The content of this podcast is for general, informational purposes, and so are the opinions of members of Sicart Associates, a registered investment adviser, and guests of the show. This podcast does not constitute a recommendation to buy or sell any specific security or financial instruments or provide investment advice or service. Past performance is not indicative of future results. More information on Sicart Associates is available via its Form ADV disclosure documents available ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠adviserinfo.sec.gov⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. --- Send in a voice message: https://podcasters.spotify.com/pod/show/talking-billions/message

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Christopher W. Mayer | 100 Baggers: Stocks That Return 100-to-1 and How To Find Them

Value Investing: The Starvine Way

Play Episode Listen Later Apr 3, 2023 52:02

Christopher Mayer is the founder of Woodlock House Family Capital and author of several books, including 100 Baggers. Before starting Woodlock House (which went live in January 2019), Mayer worked with Bonner & Partners and the Bonner family office. He was the editor of Capital & Crisis, published by Agora Financial from 2004-2015. He was a corporate banker from 1994-2004 and graduated magna cum laude with a degree in finance from the University of Maryland. He also has an MBA from the same institution. He is the author of Invest Like A Dealmaker: Secrets of a Former Banking Insider (2008), World Right Side Up: Investing Across Six Continents (2012), 100 Baggers: Stocks that Return 100-to-1 and How to Find Them (2015) and How Do You Know? A Guide to Thinking Clearly About Wall Street, Investing and Life (2018). Dear Fellow Time-Binder: Letters on General Semantics. We focus our discussions mostly on the 100 bagger book, and I hope to have Christopher back on the show to talk about the other books. We talk about the idea of finding and investing in stocks that could go up 100 times. Chris shares the story behind the inspiration for the book. We talk about building a portfolio of 100x stocks, market timing, and so much more. I would encourage you to stay tuned until the end, when Chris sheds more light on his definition of success. To me, Chris' book and this conversation continue to expand my imagination when it comes to what's possible in investing in stocks. (www.woodlockhousefamilycapital.com). Author Page on Amazon https://twitter.com/chriswmayer ---- To get regular updates and bonus content, please sign-up for my substack: ⁠https://bogumilbaranowski.substack.com/⁠ Follow me on Twitter: https://twitter.com/bogumil_nyc Learn more about ⁠⁠⁠Talking Billions⁠⁠⁠ Learn more about ⁠⁠⁠Bogumil Baranowski⁠⁠⁠ Learn more about ⁠⁠⁠Sicart Associates, LLC⁠⁠⁠. Read ⁠⁠⁠Money, Life, Family⁠⁠⁠: My Handbook: My complete collection of principles on investing, finding work & life balance, and preserving family wealth. NEVER INVESTMENT ADVICE. IMPORTANT: As a reminder, the remarks in this interview represent the views, opinions, and experiences of the participants and are based upon information they believe to be reliable; however, Sicart Associates nor I have independently verified all such remarks. The content of this podcast is for general, informational purposes, and so are the opinions of members of Sicart Associates, a registered investment adviser, and guests of the show. This podcast does not constitute a recommendation to buy or sell any specific security or financial instruments or provide investment advice or service. Past performance is not indicative of future results. More information on Sicart Associates is available via its Form ADV disclosure documents available ⁠⁠⁠adviserinfo.sec.gov⁠⁠⁠. --- Send in a voice message: https://podcasters.spotify.com/pod/show/talking-billions/message

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Christopher Mayer: 100 Baggers

Play Episode Listen Later Jan 25, 2023 19:45

In this episode, we are joined by Christopher Mayer, portfolio manager of Woodlock House Family Capital and author of 100 Baggers: Stocks that Return 100-to-1 and How to Find Them. Chris shares his insights on what attributes to seek in long term winning investments and what he learned from legendary investor Chuck Akre.

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Let's Talk Movies Ep. 99 - Chatting with Jason-Christopher Mayer (The Sound, Nobody Gets Out Alive)

Let's Talk Movies Podcasts

Play Episode Listen Later Jan 2, 2023 113:32

In the 99th episode of Let's Talk Movies, we're chatting with special guest and Emmy-winning filmmaker Jason-Christopher Mayer, writer and director of THE SOUND - available NOW via the Alter YouTube channel, Samsung TV, and Roku. Jason has worked as a filmmaker, writer, and editor on numerous short films and music videos. Watch our full, spoiler-free review of The Sound (2022) HERE! https://youtu.be/PbXzzvK_tV0 Watch The Sound - a Horror Short Film HERE! https://youtu.be/1ofnGkLjHNc Check out Jason's YouTube channel here! https://www.youtube.com/channel/UCNuD... New episodes of Let's Talk Movies Podcasts premiere every week at 8pm EST - Now available in both audio AND video format on YouTube, Spotify, and wherever else you listen to podcasts. Find us on Twitter, Instagram, & TikTok! @LTMPodcastKY For business inquiries: letstalkmovies6@gmail.com Our intro themes: Subway Dreams by Dan Henig https://youtu.be/OBONOuW6qRg, Dead Forest by Brian Bolger https://youtu.be/oa7deK7ndCg, & Searching for You by White Hex https://youtu.be/ALSL0OehZBI (Provided by the YouTube Audio Library) (Copyright Disclaimer: We do not intend to infringe on anyone's content ownership. We believe that all content used within this video falls under Fair Use (Section 107 of the Copyright Act). Let's Talk Movies does not own any of the pictures, music, or footage used within this video.) Our YouTube Channel: https://www.youtube.com/channel/UCOfX... Our shows: Let's Talk Movies: We're two lifelong friends that love to talk all things movies, TV, and everything in between - Marvel, DC, Horror, and MORE! Pop some popcorn, grab a cold drink, and let's talk movies. https://youtube.com/playlist?list=PLG... Purely & Simply Evil: Horror. Whether it's watching 80's Slashers terrorize a group of teens, everyday people surviving a post-apocalyptic world overrun with zombies, or demonic possessions, ghostly hauntings, and everything in between, there's something about the horror movie genre that captivates us. In Purely & Simply Evil - A Let's Talk Movies Podcast, we're revisiting classic horror films like never before. https://youtube.com/playlist?list=PLG... Thanks for listening! #LetsTalkMoviesPodcast

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Chris Mayer talks Deals from Hell, Reveries with Rousseau and his own take on General Semantics

Fatal Conceits Podcast

Play Episode Listen Later Sep 4, 2022 41:47

Welcome to another Fatal Conceits Podcast. In today's episode, we're joined by our good friend and regular favorite on the show, Christopher Mayer. Long time listeners will know Chris as the portfolio manager and co-founder of the Woodlock House Family Capital Fund, which he began with Bill Bonner back in 2018. Chris is also a published author who just released his latest book, Dear Fellow Time-Binder: Letters on General Semantics, which you can find here. His blog, in which he ruminates about life, markets and “this thing we call investing” is considered essential reading around the Bonner Private Research office. Check that out, here.In today's conversation, we take an unhurried stroll through Chris's library and get his take on Jean-Jacques Rousseau's Reveries of a Solitary Walker, Robert Bruner's Deals From Hell, the latest Buckminster Fuller biography and plenty more besides. Please enjoy and feel free to share our work with fellow readers, thinkers and solitary ramblers…Cheers,Joel BowmanThank you for reading Bonner Private Research. This post is public so feel free to share it.TRANSCRIPT:Joel Bowman: All right. Welcome back to another episode of the Fatal Conceits podcast, dear listener, a show about money, markets, mobs, and manias, not necessarily in that order. If you haven't already done so, please check out our sub stack. You can find us at bonnerprivateresearch.substack.com. And on the site there you'll find hundreds of articles on everything from high finance to lowly politics and everything in between including, of course, many more conversations just like this one under the Fatal Conceits podcast tab at the top of the page. Today, we're delighted to welcome back to the show long time friend of Bonner Private Research and the portfolio manager of Woodlock House Family Capital Fund, which he co-founded with Bill Bonner back in 2018. A good friend of mine, Mr. Christopher Mayer. Welcome to the show, mate. How do you do?Christopher Mayer: I am well. Thank you for having me on, always good to talk to you.Joel Bowman: Yeah, absolutely. You're in a new place up in Maryland?Christopher Mayer: Yeah. I live in Mount Airy now. It's a nice little town, very green, lots of golf courses around. It's open, it's nice. I like it here.Joel Bowman: Good stuff, mate. We were speaking just before we hit the record button here and I told you that I would be remiss if I didn't at least throw out one financial question at the very top of the segment here. I guess what everybody wants to know is, after our June lows, we've had a 20 odd percent bounce in the S&P, what many would consider to be the classical definition of a bear market rally. Is this something that, first of all, you agree with? And secondly, does it concern you, as somebody who's in it for the long term and more focused on individual stock selection?Christopher Mayer: Yeah. Well, everybody wants to know the unknowable, right? Is this the bottom or we have more to fall or are we off and running? I don't look at it that way. I'm focused more on the individual companies I own. And I have to say, this is probably one of the easiest bear markets I've been in yet because I have now second quarter reports in hand for all my companies except one, and they're all firing on all cylinders. I mean, if you just looked at the financial statements, you wouldn't see any cause for concern. You'd be surprised that the stocks were down at all. So I think times like this are an opportunity. What's remarkable, I suppose, is the swiftness of this decline. So we're through August, this is the fifth worst start for the S&P 500, going back to 1928. So that's historically interesting and that ...Joel Bowman: Anything interesting happened around 1928-29 or there abouts?Christopher Mayer: Yeah. People like to make different comparisons, and it doesn't have to be catastrophe. I saw somebody on Twitter had put out charts where they said one for the bulls, one for the bears. And they had set up the decline that we see now and matched it up perfectly with '07, '08. But then someone else, they had matched up perfectly with another market where it went straight up. So, when do that kind of data mining you can find the pattern to make whatever argument you want to make, but they're all different in different ways.And this one feels different in that way, in that the underlying performance of companies so far is strong and there are pockets of the market that are weak. Of course, if some of the retailers have disappointed and banks earlier, didn't do so well, but by and large things seem to be holding up pretty good. So I'm not concerned. I think this is an opportunity for sure. And if you have any kind of time horizon, five years at least, I think you're going to do pretty good while picking up some things today.Joel Bowman: When we spoke for your segment on Bill's round table, which we recorded, I guess, maybe a month or so ago, you mentioned of course that with the benefit of hindsight, which we would all love to luxuriate in 24/7, you look back at those other market drops that you saw in 2008 and before and now they look like little blips. So who knows what the future will hold, but if you had the steel to hold and even pick up some bargains during that time with some stock selection, you could do very well.Christopher Mayer: Yeah. And the stock that I mentioned, I think on that call has put in a new 52 week load today, so... It's even better now, right? Yes, yes, yes, yes.Joel Bowman: There you go. All right. Well, looking at your bookshelf behind you there, one of the things that I love about our conversations, and for listeners and viewers now who are just joining us, I know we've got a lot of new readers on the Bonner Private Research sub stack, so welcome if that's you. Chris and I have had a few conversations here now, maybe three or four where we thumb through Chris's bookshelf and just do a little bit of a deep dive into what makes Chris tick as both an investor and a thinker and a writer. So I'll link to a couple of our previous conversations there so readers can get a little flavor of what we're about here. As we were emailing a little back and forth in preparation for this call, Chris, you nominated a typically, characteristically eclectic clutch of books, as you tend to do. Do you want to take us from the top, maybe beginning with the classics? Where do you want to start?Christopher Mayer: Yeah, we can begin with the classics. So a lot of these books behind me are old philosophy books. This is my main study here, but then across the hall, I have another library where my investment books and other books are. And then downstairs, there's another little section where some fiction is. And since we moved this library is about half the size it was, but it's the way it goes. But the classics I had recently read and thought I would share is Rousseau, the Reveries of the Solitary Walker.He wrote this as his last book and it's a series of 10 walks. So he goes off and he writes what he was thinking about on these different walks. If I were to describe it, I would say it's a rumination on happiness. What makes people happy? What makes them unhappy? And so this is old Rousseau looking back, and he's an interesting guy. He's a really good writer, but I have to say he's also a hard guy to like sometimes. I don't know. You mentioned in the email that you had read his Confessions, which I have not read yet, but I've heard about them. Yeah.Joel Bowman: Yeah, I read that recently, actually just in the past, I want to say six months or so, and maybe a spoiler for some listeners who haven't gone through much of their Rousseau yet, but yeah, he had a long running feud with Voltaire after a friendship earlier in their life. Voltaire was pretty savage in his attacks on Rousseau later in his life, especially for perceived hypocrisy around raising kids and education and that kind of stuff. It's pretty hard to like him after you discover some of those warts, those and skeletons in the closet.Christopher Mayer: Yeah. Yeah, it was unbelievable, but there are a lot of things like that. But then I think also he's very thin skinned. He seems to take offense pretty easily. But having said all that, he's also a good writer and deep thinker. And in this book, he talks about things that make him almost sound a bit like an Eastern philosopher. He starts talking about, what makes people happy comes from the inside and not being too bound up with externals and being able to be more unaffected by the vicissitudes of life. And he really comes to appreciate nature. There's one letter where he talks about how he gets in a boat and goes into the middle of a lake and just lays at the bottom of the boat, looking up at the sky and loses himself for hours in a peaceful meditation. So I don't know, it's a fun read. And it's not heavy reading either, it's pretty easy to read.Joel Bowman: Yeah. I think some of these other works, Emile in particular, is notoriously difficult.Christopher Mayer: And he's known for his political stuff, so I know that that can be difficult too.Joel Bowman: Yeah, The Social Contract and whatnot. Do you make anything of the rambling philosopher at all? There were others, differing vastly in their world views, such as Nietzsche who wrote in a very aphoristic style. He would go on these long walks and just meditate on what he thought was important. Obviously more recently, Taleb wrote his book of aphorisms and it seems to be one type of medium through which to distill your thoughts and get some clarity for anything like that.Christopher Mayer: Yes. I think of Henry David Thoreau also. He'd do these walks and he'd write in his journal.Joel Bowman: Yeah.Christopher Mayer: Emerson was a great keeper of a daily journal. Kierkegaard was also someone who wrote avidly in a journal. I have his journals right there. But yeah, I think there's something to that. And then even in some of the great Eastern philosophers too, they wrote in little snippets, like Lao Tzu or Laozi's Tao Te Ching and those guys. And that compares to these heavy, weighty treaties that Hegel and Kant would write, they're impenetrable. So I think there's something to say for that.Joel Bowman: The critique on the top of my finger, yeah.Christopher Mayer: That's critique of pure reason?Joel Bowman: Right there, yeah.Christopher Mayer: I have that there. That's over right here. Yeah.Joel Bowman: These big, weighty tomes. Those system builders, the Hegels and the Wittgensteins and whatnot, they can get so dense. It's almost sometimes a little impenetrable, but going back to ... you and I have spoken about Thoreau before, and of course Walden. He was social distancing a long time before it became cool on the outskirts up there in New England. I often wonder that, just by occupational hazard, we have our noses so close to the screens, we might be watching ticker symbols or analyzing charts or looking at company reports and that kind of things, if we wouldn't benefit a little from just stepping back, getting some perspective, going to play a game of golf, going for a walk in the woods and decluttering from time to time.Christopher Mayer: Yeah, definitely. I think that's a good point. And there's the science about that too, about what happens if you press yourself too much. Your brain needs some time to recharge. Concentration is almost like a resource, and if you constantly are at it, you got to give yourself a chance to regenerate. It's also interesting, some of these philosophers, like Nietzsche, some people think that it's because he had such intense migraines and a lot of other ailments that he preferred to write short because he couldn't sit there for that long and write long pieces. I don't know if that's true or not, interesting theory. But it does also seem like some of the philosophers who write shorter do have some love of nature too. They do tend to get outside and they're walking and then they write down these observations. So yeah, I think there's some value in detaching. Even Bill has told me that before. He says we should have some other outlet other than markets. For him, he likes his masonry and he's always working with his hands, but it's good to have something else.Joel Bowman: Yeah. Over the summer, my wife Anya and I and our daughter were touring around a little bit of Europe. We went to visit the Bonners in their country estate out in very rural Ireland ...Christopher Mayer: Yeah. I was in early June as well.Joel Bowman: Oh, yeah. That's right.Christopher Mayer: We were close in there. We just missed timing.Joel Bowman: That's right. Yeah. But it is funny to see. Bill will do his daily work and then he'll throw on the dungarees and march down the country lane and spend a few hours doing some masonry work and come back all dusted up for lunch or whatnot. But yeah, I think it's almost akin to when you teach your children, for example, when they've forgotten a word, they get stuck on something. They want to say something and for the life of them, it won't come to them while they're thinking about it. And you have to distract them and get them thinking about something else, talk about what they did that day or whatever and then, all of a sudden, there it is.Christopher Mayer: I think in the investing world, I mean, there are freaks like Warren Buffet who seems to have no interests other than investing.Joel Bowman: Big banks. Yeah.Christopher Mayer: Yeah. I mean, I don't know if you've ever read The Snowball, which is the biography on him.Joel Bowman: No.Christopher Mayer: He's really a strange guy. He has a diet of a six year old, lives in the same house all that time, not particularly well-read at all. I don't know if he'd even know who Rousseau was. I mean, he just doesn't have that kind of background and no real hobbies or interests. I mean, he does play Bridge, so maybe that counts, maybe that's something.Joel Bowman: Yeah.Christopher Mayer: But it's very strange.Joel Bowman: He's almost like an idiot savant. You have all these arrested developments in other aspects of one's life. But then when it comes to analyzing markets, his the brain just goes into overdrive.Christopher Mayer: A lot of the better investors I know do like to read and they are curious. So I think that's a good trait to have, because when you think about businesses, you're learning about people and people have different philosophies and styles. You often think you can tell this history of the world through any different lens. You could tell it through investing. You could tell it through music. You could tell it through food.Joel Bowman: Yeah.Christopher Mayer: If you go deep enough, they all come together and these same philosophical topics eventually crop up.Joel Bowman: It's interesting, isn't it? That was one of Anthony Bourdain's observations that he would use. You mentioned food and we've talked obviously about travel and music and things like that before. He was a great believer that the same conversations are essential to human nature no matter where you go around the world. And you can use something like food, something as common and as communal as that ceremony, as a way of getting into all of the things that were happening in wherever he was, Phnom Penh or Nairobi or what have you. He would talk to people and then get into the rest of it. You could learn about supply lines. You learn about living standards. You learn about history. You learn about the politics of the place, the economics. All of the kinds of things that you see reflected in a stock market, for example, you might see if you really pay attention reflected in just breaking bread with someone in some far flung place around the world.Christopher Mayer: Yes. I agree with that, and I'm definitely a big Bourdain fan, so maybe that seed was planted. He's a guy I miss. I'd like to have him around, see what he thinks of some of this crazy stuff going on. Of course there's a number of people we could say that about, but he was a good one.Joel Bowman: We were mentioning as well recently reading the biography of Bucky, or Buckminster Fuller.Christopher Mayer: Yeah, Buckminster Fuller. Yeah, it was a big, fat book. It came out just recently. It's called Inventor of the Future by Alec Nevala-Lee. And when I first saw it I was very excited because I thought, "Wow, Bucky, as he would like to be called, getting the Royal presidential treatment, this big, fat biography. It's hard to describe what he did. I mean, he was an inventor and he was a poet and he did all kinds of things in his life. He was a philosopher as well. He wrote books and he was a coveted speaker. So he did a lot of different things.I read this biography and I think it is the definitive biography of his life, the when and the how he did this then and here and there. It sorts through different events and separates some of the myth from what probably happened. So in that sense, it was interesting to read it. But in the other sense, it focused a lot on his personal failings. He had a number of affairs and he had some other problems, so took away some of the magic. If you didn't know who Buckminster Fuller was and you picked up this biography and read it, you'd walk away thinking, what's all the fuss about?Joel Bowman: Right.Christopher Mayer: But he was something. I mean, Steve Jobs loved Buckminster Fuller. You know that famous Apple ad "think different" and it goes through 16 or 17 different icons? Buckminster Fuller is in that ad and that was at the request of Steve Jobs. He received 30 honorary degrees. He had something like 25 patents. This book, I didn't feel like it really brought home any of that. He was again, a very coveted speaker all over the world, he had fans all over the place. So anyway ...Joel Bowman: That's interesting, isn't it? When we talk about historical figures, even as recently as someone like Buckminster Fuller, one wonders if they would even be given a start today or whether they'd be canceled before they got going. I wonder if people would focus so much on their shortcomings? I mean, you're not reading a Buckminster Fuller book for marital advice, presumably. You're reading him for his philosophy on this or his inventions or his thoughts on this and that. I wonder in our haste to dig up the worst dirt on everybody, how much of the good we miss out on.Christopher Mayer: Of course there's a lot of people like that in history, right? If you were going to go through all the shortcomings, you'd hardly read anybody. I mean, shoot, Heidegger's one of the best examples of that for the 20th century. He's a Nazi, he's out.Joel Bowman: Ciao.Christopher Mayer: I mean, look at some of the stuff Hemingway wrote, homophobic stuff and misogynistic stuff. Forget it. So yeah, I don't know. It's a good point.Joel Bowman: All right, mate, let's move on to your second book here. Is it Deals from Hell, I think we've got up next. That's a great title by the way.Christopher Mayer: Yeah. It's called Deals from Hell, M&A lessons that rise above the ashes by Robert Bruner. This book was sent to me by a fellow money manager. And well, most of the book is case studies of M&A deals. But if you were to get this book, I would recommend at least just reading the first three or four chapters, because what it really does is that it kills this myth that M&A is a bad thing, mergers and acquisitions. There's a prevalent negative view among people, even professional investors, they don't like acquisitions. And their view is, when you do an acquisition, most of the time it destroys value for shareholders. And in this book, he goes through a lot of research and studies that have been done in M&A and he comes to the opposite conclusion, that M&A does pay.Joel Bowman: Oh wow.Christopher Mayer: And it's interesting why that is the case. So he says, an objective reading of more than 130 studies supports the conclusion that M&A pays. And one of the reasons why the conventional wisdom fails, as he says here, people generalized too readily from the findings of a single study. So there are some very high profile disasters, right, in mergers. And that's what gets all the attention versus all the little deals that get done along the way that worked out perfectly well. So the tendency is to exaggerate the failures and the key line here that I double starred, he says: "All M&A is local," which I really like. You really have to look at it on a case by case, deal by deal basis. And it took me a while to get over that hurdle, but now I've found some companies that are really great acquirers of other businesses, just systematically are able to add and plug in businesses to their growing little empire and do very, very, very well.Joel Bowman: So is this something that's affected the way that you think about the universe of potential investments that you come across on a daily, weekly, monthly basis?Christopher Mayer: I would say I had discovered this earlier. I wouldn't say this book turned my opinion on what I think, because I'd discovered that on my own, that M&A is really nuanced. And I've discovered a number of these companies. People now call them "serial acquirers" and they have done very, very well. There's a number of them in Sweden. There's a couple in the UK. In the U.S., there are several as well that just continued to acquire companies as their main avenue of growth. And they've been wonderful investments. So what makes those successful versus the failures? This book helps highlight that too. You've got greater propensity of failing if it's a very large deal, if it's very complicated, versus smaller deals, or if you're doing something that's in a business unrelated to yours. There are a number of things he goes through. But I think the value in this book is really busting that general myth and forcing you to think more nuanced about the topic of mergers and acquisitions.Joel Bowman: That's interesting. I like those myth busting books, those that turned things that you might have thought previously on their head. I'm wondering if the general consensus is such that mergers and acquisitions are bad might not offer a little pocket of hidden opportunity, an overlooked opportunity for people who could get past that stigma.Christopher Mayer: Yeah, I think it did for a while. And then I think a lot of these serial acquirers are now priced pretty well. So I don't know that that's necessarily true anymore, but it might be. Part of the reason I think is that it can be difficult to model these things because you don't necessarily know when the deals are going to strike or what they're going to look like. And if they deploy a lot more capital than you model, then there's going to be some big surprises. So it's a tough thing to predict and project.And so if you're willing to go with the uncertainty and you trust the capital allocation, trust the team and the process that they have, and they have a track record of successful deals. And you can do that. You can look back and see whether deals were successful or not. You can see whether there are impairments. You can see what happens to the overall companies' returns on capital, whether they go down over time as they do acquisitions, watering it down, or whether they're able to preserve it or even grow it.And it depends on the amount of disclosures companies give you. Sometimes you can really dig down and you can see how certain subsidiaries they acquired, how they've done sales and profit wise. And you can back in and say, wow, that was a really good deal. So I think that's the key. It's like most things in investing, in life. You can't go through it too generally, everything has nuance. And our culture forces everything to be squished and reduced to a headline or reduced to a soundbite or reduced to a one single powerful message that you can deliver, but on most things, there's a lot of nuance and complexity.Joel Bowman: Yeah. And oftentimes I think that looking beyond that the black and white or the binary conception of the world can flesh out a lot of useful information. I was going to ask, because you touched on a few different investing jurisdictions there, Scandinavia, Europe. I know that you invest, around the world, that you have an international portfolio...Christopher Mayer: Yes.Joel Bowman: Are there things that you'd look at in particular when you go into foreign markets, say for example, the transparency of their reporting, the maturity of the market in general, or does that all depend on price?Christopher Mayer: Yeah, there's definitely interesting jurisdictional differences. So even on this topic of M&A for example, there's a solid pocket in Stockholm where there's a dozen of these serial acquirers and they're all good at it. For some reason, it's like a Silicon Valley of serial acquirers there. Culturally, there's something there. There's about it and you don't see anything like that in Germany or France. It's just different. And in the UK, there are a few. And then in the states, there are several. But it's interesting to me sometimes how you can have such big differences in regional markets, even if you compare Sweden to the other Nordics. I mean, there's a lot of differences there in how business will run. For example, a lot of the Swedish serial acquirers will report on return on capital employed. I mean, they'll be right there, a number that they're tracking and targeting. And as an investor, I'm like, that's fantastic! Here's what you want to think about. Right? And not this BS about sales growth or earnings. These guys are focusing on the real things that matter. They get capital allocation. So yeah, I mean, those kind of things are pretty neat when you find that.Joel Bowman: Yeah. You toss a line over the side of your boat and you find a lot of what you like, you start to bait up again. Good stuff. Just going from the title there, I haven't read the book, but I expected there to be some horror stories in there. Some actual "deals from hell"?Christopher Mayer: Yeah. I mean, well the classic is the AOL, Time Warner deal. Time Warner bought AOL at the top. And yeah, I mean, then you've got some horrific charts here where they announced the merger and then the company becomes worth less than the deal value was. I mean, it's just a remarkable amount of destruction of wealth on some of these things. So yeah, there are definitely horror stories in there.Joel Bowman: Right. They're the headline grabbers that you were mentioning before that shaped public opinion.Christopher Mayer: Well, that's it. That's exactly right. Those are the ones. When people think of disasters, most people can think of these ones.Joel Bowman: All right then. Let's move on, Chris, to your own latest release. How many is this for you now, mate? You've got to be working on half a dozen?Christopher Mayer: This is number five.Joel Bowman: Number five. Okay. All right. Congratulations. Let's get into it.Christopher Mayer: It's called Dear Fellow Time-binder: Letters on General Semantics.Joel Bowman: All right. You're going to have to back up a little bit here for our listeners. We're going to go back into some previous conversations. Maybe you could do as your man Korzybski might do and help "map the terrain" for us.Christopher Mayer: Right, well, if you read, [my book] How Do You Know?, this book is a second crack at those ideas, except that I drop the investing focus. So, How Do You Know is really applying these ideas to investing. And then this is just a more general exploration. I call it letters. I was actually, as I say in the preface, I was inspired by Seneca's letters. He wrote these letters where he explained stoicism, and there's some debate about whether they were really letters or not, whether he would really mail them, but they were written in the letter format as if he was teaching somebody. And I thought that's a good way to do it, so I did this. I thought, if I were teaching someone of these ideas, how would I do it? What are these ideas?You mentioned Korzybski. Yes, Alfred Korzybski was a guy in the 1930s who created this discipline called general semantics. As you can think of it more as an aid to critical thinking. It focuses on the assumptions that we make with different symbols and language and how they interplay with how we behave. And there's a lot to it actually. There's a lot of different things to it. So it can get deep and get into all kinds of things about causation and things we take for granted. So what makes this book different, too, is it's published by the Institute of General Semantics and they gave me access to the archives for Et Cetera, which is their journal they've been publishing since the 1940s. And another publication they have, The General Semantics Bulletin. So I had these two archives.I was able to go back and I mined them because there were some interesting characters that taught these ideas over time. You won't know them now, but they're in the book, people like Wendell Johnson, Irving Lee and S.I.I Caldwell, these different people. They're interesting characters on their own. And so I was able to pull out different things from those archives. So it was really interesting to read in the 1940s, what people were thinking about, worried about. War of course hangs over the whole thing and so it was very appropriate then because they were looking at things like propaganda and taking apart the meaning of all these different terms and phrases and the ideas behind them. So, that's one thing that was really fun about doing this book. And I just did it on the side. Some of the letters were already published in their journal, Et Cetera, over the last couple years. And then finally the book came out this year, so I wrote most of it actually in 2020.Joel Bowman: As you're speaking now, I'm thinking about the messaging, let's call it, what used to be called propaganda before it underwent a public relations campaign itself, and is now called public relations. I think it would've been in the early 1900s when Eddie Bernays was just getting his start in the United States. He was the fellow that brought the world the phrase, "Making the world safe for democracy." And that was the banner under which he convinced Woodrow Wilson to commit American troops to World War I. America was a largely war weary continent as it had only just emerged from its own civil war a generation or so previously. And all of a sudden, with the right "messaging," we have troops marching off to war. And it does make you think, if that was happening then, and if it was happening in the forties, if this was on people's minds, it would be perhaps naive to think that this wasn't happening at some level today.Christopher Mayer: Yes. I mean, it's interesting to think about why that stuff works. Why does that phrase have power, "making the world safe for democracy?" What does that even mean when you think about it? And so that's what general semantics looks at. I think the biggest thing I've taken from Korzybski really is just that, to be conscious of what he would call "abstracting." So there are all these words and phrases that we use that really don't mean anything when you think about it. They mean whatever people want them to mean. They have dozens and dozens of different meanings, "democracy "for example. "Recession" would be one. Capitalism would be one. You hear people talk, especially politicians, about our "capitalist" system. And then you talk about other people and they're like, What are you talking about? We don't have a capitalist system. We've got something else entirely.Joel Bowman: It's a corporatocracy.Christopher Mayer: Yeah, exactly. Right. So all the kinds of labels we throw around. Even political parties. Saying someone is Republican or Democrat doesn't really say much.Joel Bowman: Right.Christopher Mayer: It's freighted with assumptions. And then sometimes words as we know them have become so freighted with connotations that we have to invent new words or we have to drop them. We can't even say the old words anymore. You look like you may have some examples to throw in there.Joel Bowman: I know. I'm not going to a risk cancellation by listing off a shopping list of unmentionables. But yeah, it's certainly the way. And I think also with regards to the way semantics is treated in our modern public discourse. We have a narrowing of definitions that we're permitted to use or that we're almost shoehorned into.Christopher Mayer: Yes.Joel Bowman: I'm wondering if while you were mining these archives, doing research for your own work, if you came across any time when the range of concepts, the range of language that we had available to us was so narrowed that it impacted the way we're even able to conceptualize and think about things in the first instance.Christopher Mayer: Yes. There's a hypothesis I talk about in the book is called the Whorf-Sapir Hypothesis. And the idea is that the language we use actually actively shapes what we think, just like what you're saying. I can think of Whorf's examples because he used to work in insurance and he would say things like ... let's say there was a fire started in some factory and he would have to investigate the fire. And he would find out there were these drums that were labeled "empty gasoline drums." People would be very careless with them. They assume they're empty. But they're not empty. They'll have vapors in them that are very flammable and so on and so forth and that led to their mishandling which started the fire. Another one, I remember there was a time where he talked about how there was this pool of water where they would sometimes dump flammable liquids and things. And they would be a vapor there and someone was there smoking a cigarette and then they threw the match in the water, think it would put it out. Instead, it lit the whole thing on fire and ...Joel Bowman: The exact opposite, unintended consequences.Christopher Mayer: Yeah. So his point was you, if you label these things differently, we would actually think differently about them. If you didn't say they were empty gasoline drums, you called them something else, people would behave differently. That's a slightly different point than what you're making, but I mean, it's so endlessly fascinating, because you can go on about this forever. But part of this book too, is there's a lot of little helpers and things. I know just from studying general semantics, to give you one example, there's this whole thing about being mindful of absolutes. So when people say things like "always" and "never." Anytime I hear people use those, it's like a little light goes on in my mind. You have to be careful of that. So you get suspicious of certain words and it can help you ask questions, follow up questions. Like somebody will say, "Well, these immigrants are all thieves. And you'll be like, really? "All" of them?Joel Bowman: Mergers and acquisitions are "always" a bad idea.Christopher Mayer: Exactly. They're "all" terrible. "All" of them? Every single one? So there are little clues like that, words that will perk up. And as an investor, that's important because I spend a lot of time talking to people and asking questions and trying to parse their answers.Joel Bowman: We've never lost shareholders' investments. Never? Interesting. Yeah. All right, Chris, tell us where we can get your book here, it's Dear Fellow Time Bender. I'm assuming it's on Amazon. Anywhere else in particular?Christopher Mayer: Yes. It's not very expensive. It's 12 bucks. It's 150 pages. I think it'll be a fun read for people who like to think about these kinds of ideas. Yeah, Amazon and fine bookstores everywhere as people like to say, right?Joel Bowman: Fine bookstores.Christopher Mayer: And the Institute of General Semantics, they sell it as well, so you can Google that. You won't have any problem finding it. And I don't get any proceeds, by the way. I don't get any royalties or anything. It's done for the Institute, so all proceeds goes toward them.Joel Bowman: Okay. I'll include a link to Chris's book (SEE HERE) and the others that we've spoken about here, Deals from Hell and Rousseau's Reveries, the very last book of his life. We didn't even get into talking more about his other particular ideas about some very interesting things. I think mostly people tend to focus on, as you said, his political persuasions, the Social Contract and that kind of stuff, but his works reward a whole summer of study at the very least.Christopher Mayer: I think so. I think if I had to sum up the big idea from that book, I'd say it was his idea that people were naturally happy, but they become unhappy by comparing themselves to other people and focusing too much on external things.Joel Bowman: Hell is other people, as Sartre said, if you let yourself only exist in other people's opinions. Okay, Chris, I feel like we could go on for quite a bit longer, going through your bookshelves and mine, but let's leave it there and we'll pick it up again next time.Christopher Mayer: Yep. Thanks, JoelJoel Bowman: Thanks a lot, Chris. I really appreciate it. And for listeners, again, please head over to the Substack page. You can get plenty of research reports, columns from Bill Bonner, Dan Danning, Tom Dyson and myself, and many more conversations like this, including the ones I referred to, our past conversations with Chris Mayer, where we noodle through more of his extended archives. And with that, we'll be back next week. Thanks a lot. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit bonnerprivateresearch.substack.com/subscribe

united states america american amazon europe google uk apple france future hell germany war ireland institute confessions maryland nazis sweden silicon valley bs republicans bridge cheers democrats new england letters swedish deals congratulations capitalism steve jobs stockholm recession substack warren buffett inventor aol nairobi nietzsche concentration anthony bourdain scandinavia kant hemingway culturally seneca rousseau bucky walden voltaire s p snowball emile hegel henry david thoreau woodrow wilson kierkegaard time warner sartre thoreau heidegger lao tzu nordics tao te ching semantics social contract bourdain jean jacques rousseau phnom penh buckminster fuller taleb laozi how do you know reveries mount airy chris mayer hegels alec nevala lee bill bonner whorf christopher mayer wittgensteins tom dyson

Science Policy in the Spotlight: Mental Health Crisis Response 3

In the Spotlight

Play Episode Listen Later May 25, 2022 30:13

We are introducing a new monthly policy episode series called "Science Policy in the Spotlight," where we will focus our attention on a timely and local policy topic in the greater Chicago area and understand how science helps inform the topic. This series, we're focused on new strategies in mental health crisis response.In the 3rd episode of this 4 episode series, we chatted with one of the leaders of the new First-response Alternative Crisis Team (FACT) run by Trilogy Behavioral Healthcare, Christopher Mayer, to learn more about their recently debuted mobile crisis team that serves Evanston and north Chicago! If you want to learn more about the information discussed throughout this episode, our sources are listed here: More on the Assertive Community Treatment (ACT) program in Illinois More on the goals of CESSA and the upcoming 988 crisis line numberTrilogy's FACT program can be accessed by calling 1-800-FACT-400.Give your feedback on the episode here for a chance to win a $30 Visa gift card!If you want to follow Trilogy Behavioral Healthcare and stay updated with their work, you can follow them on Twitter or check out their website to learn more.Don't forget to follow us on Twitter @SpotlightThePod to stay up-to-date on all news and episode releases! Learn more about Northwestern University SPOT on Twitter @SPOTForceNU or at our website spot.northwestern.edu

chicago visa spotlight mental health crisis evanston crisis response science policy cessa christopher mayer

Chris Mayer on Information Overload

Fatal Conceits Podcast

Play Episode Listen Later Apr 24, 2022 43:09

“Try to resist labeling yourself, resist taking on any label because that hems you in. Suddenly, you think yourself as an X. And there's some internal pressure to believe everything that an X believes. And it makes you take sides just based on a label rather than reasoning your way through the issues.” ~ Chris Mayer, manager and co-founder, Woodlock House Family CapitalBonner Private Research is a reader-supported publication. To receive new posts and support our work, consider becoming a free or paid subscriber.TRANSCRIPTJoel Bowman:Well, welcome back to the Fatal Conceits podcast, a show about money, markets, mobs, and manias. If you're joining us for the first time or even if you're a regular listener, please do head over to our Substack at bonnerprivateresearch.substack.com. There, you'll be able to check out hundreds of irreverent essays on everything from lowly politics to high finance, and beyond. Plus, a bunch of research reports and, of course, many more episodes of the Fatal Conceits podcast just like this one. Not a few of which feature my guest today, a popular guest on the show, and a good friend of mine.Christopher Mayer is the portfolio manager and co-founder of the Woodlock House Family Capital fund. And he joins me today. Chris, good to see you, mate. How are you doing?Chris Mayer:Yo, good to be on with you, buddy. How you doing?Joel Bowman:Good, mate. Always good to have a brighten up my day with a chat with you, mate.Chris Mayer:There you go. Yeah. Same. Looking forward to it.Joel Bowman:Now, readers and, I guess, listeners now who have heard a few of our previous discussions know that one of the themes that we touch on with Chris as an increasingly rare omnivorous reader is we like to thumb through some of the spines on his bookshelf, see what's got his gray matter, taking and inspired. We've had, I think, maybe three or four of these discussions now. And we've set them up with a few different categories of book, whether it be philosophy, or travel, or fictional, or what have you.But you had a bit of a different idea today, Chris, and thanks to your recommendation. I've done a little bit of a two-day crash course on your selected author and has turned up some very, very interesting points. So maybe we can get right into Neil Postman and his seminal 1985 work. It's quite amazing to think that this was that long ago, titled Amusing Ourselves to Death with the very appropriate subtitle of Public Discourse in the Age of Show Business. (Here's a link to the book.)Chris, you want to set the stage for us?Chris Mayer:Yeah. So I put this under the category of understanding media or understanding media culture. So if you want to have some framework to make sense of social media and TV news and all the stuff that goes on, this book will really make you think. Yeah. What I think about is this eerily prescient. So, yeah, you said it came out in 1985. It's hard to believe that ... Here's the copy. I'm going to read just the beginning because this sets up the whole book. There's a little part in the beginning where he compares the dystopian vision, Orwell, 1984, and Aldous Huxley, Brave New World.So it's just one little paragraph. I'm going to read it because this is when he says to himself what this book is about. So it says, "What Orwell feared were those who would ban books. What Huxley feared was that there would be no reason to ban a book because there would be no one who wanted to read one. Orwell feared those who would deprive us of information. Huxley feared those who would give us so much that we would be reduced to pacificity and egoism. Orwell feared that the truth would be concealed from us. Huxley feared the truth would be drowned in a sea of irrelevance.Orwell feared we would become a captive culture. Huxley feared we'd become a trivial culture preoccupied with the equivalent of nonsense." So he goes on to say here that this book is about the possibility that Huxley and not Orwell was right.I mean, already just in there, there's a lot you could already sense, which is we're bombarded with so much information that it almost makes everything trivial. I mean, you're bombarded with so much news and takes all the time. It's hard to make sense of all. So I would say, if I had to sum up the key thrust of this book and what one of the main things I learned about, and we could talk more about it, is Postman really makes you think more about the medium itself rather than focusing so much on what is being said.But he would say, for example, instead of the content of a tweet that gets passed around a lot, he would make you think about, "Oh, what does that medium of Twitter bring? What kind of conversations does it force us to have or encourage us to have?" I remember one example in the book he gives is, think about smoke signals. If you're only communicating by smoke signal, it limits the conversations you can have. You can't have a deep philosophical discussion over smoke signals. Yeah.And so if you think of every medium that way, you think of Twitter as a medium, it constrains you in a certain way. There's the obvious character limitation. But there's the whole thing about it, there's the likes, there's the retweets, there's followers. And what conversations do that force you to have? What messages that it'd force you to have? And so that's the thing about this book that really makes you think about.Joel Bowman:That's a really interesting and very germane points as Twitter and, of course, Elon Musk, and that whole potential takeover and the debate on whether or not one man should control this particular medium, and just the power of that medium and the power that it has accrued in just a very, very short amount of time.One of the points that I saw Postman make in an interview ... And this was in '95. So this was 10 years after the publication of this particular book, Amusing Ourselves to Death. So it was really, as you mentioned, I think the right word is eerily prescient because even the terminology that he's using, it almost looked like he had taken stock of the conversation today, and then transported himself back to '95 just to give us a bit of a warning about what was ahead.But he gave ... I remember he used this point about this technology, particularly communications technology, being this Faustian bargain, where it wasn't just this one-way cornucopia of benevolent gifting that we were the receivers of but we also had to give something in return for that. And a few of the points that he brought up, for example, was just basic social skills when we've got our head in a personalized computer and we're not building a community. How does the medium change the way that we interact with one another beyond just the way that we interact individually with information?And I think, to your point about Twitter, I mean, that's just such an obvious thing that we can point to and say, "Well, there's obvious echo chambers here, where people and whole communities are becoming just more and more fragmented and atomized.Chris Mayer:That's it, yeah.Joel Bowman:Do you think that that is somehow catalyzing the political divide that we see today, or?Chris Mayer:Yeah, definitely do. I mean, you think about people who can build their own little echo chambers now. You can tailor all your input so that you're only getting the stories that you want to hear. So it definitely is fragmenting that way. And I think also the point about new technologies and new mediums that he makes is that it's not like people tend to think, let's say, for example, when email came along and people tend to say, "Well, just another way to send a letter." But it wasn't, it's not that at all. It's a completely new thing. And it changes everything that went on before. Nobody writes letters anymore.When TV came along and people, in the beginning, they would have depreciated or downplay its potential, its influence, because for them, they just saw it as what they were familiar with as an extension to that rather than something that really was brand new and changed the game, even though they didn't fully understand it. They didn't fully understand what television would do to politics.And one of the interesting things, I don't know, I don't think it's in this book, I think it's in another book, Technopoly. He talks about the Lincoln-Douglas debates.Joel Bowman:Okay.Chris Mayer:And they would go on for eight hours. They'd go on for hours, right? They didn't have television. They were there. It was like an event, you'd sit and then have intermissions. And the other guy would talk and they have an hour and then you'd have an hour to respond or whatever it was. But we have TV now. What does TV do? Compresses it, makes an entertainment, we have commercials. And now we do these debates and they have two minutes to respond. It's ridiculous.Joel Bowman:Yeah, sound bites.Chris Mayer:What's your solution to the Middle East? You got two minutes.Joel Bowman:Be concise, make it snappy. And also, I think, to your point there about this participating in person in communal activities, Postman refers to it as the co-presence of communications, where you are literally ... I mean, you and I are talking over Skype here for just want of geographical closeness. But there is something radically different from, let's say, attending. We were at the theater down here just last week with my wife's dad who was visiting in town. And we took him along to a show. We saw Giselle.I mean, it's an incredibly different experience when you go to Teatro Colon down here. It's a packed house. People are there, they're clapping in unison. It's very, very different from we took my seven-year-old daughter along and she'd seen some performances on the television before. But this was just a whole another world. And so it makes me think, given just the past couple of years and how these kinds of rolling lockdowns and interruptions to global travel and just almost the wholesale cancellation of the public space, how that might have affected the way that we digest our information.Chris Mayer:And I don't think we really fully understand it yet. That's the other thing is even social media, it's been around a while now. But I don't know yet that we fully appreciate and understand it, what its impacts are and how it's changed things. It took decades before people really figured out TV and how to use it and what its effects were and, yeah, it may take some time. And it's creates a whole new concept. I mean, it was one of the part in the book I like where he talks about, there are many examples of this kind of thing. But he talks about how even the concept of news of the day, it didn't exist unless you had a medium that you could see what was going on in faraway places, and made me think that that's one of the other things about Twitter.Here's the line I like. He says the news of the day is a figment of our technological imagination. And if one thinks about not just Twitter but any kind of social media or the internet generally is you can instantly see what's going on all the way across the world. And everyone right away have an opinion. I mean, it's like ... So even in Russia, Ukraine, how many times you see people that put little Ukraine flags on their Twitter page? Or how many people, they ... It becomes a show in itself.How much is this is really genuine and how much of it is just, "Look at me, I'm on what they call virtue signaling. Look at me, I'm on the right side." And you aren't doing crap for Russia, Ukraine, putting a little flag on your profile. You know, you want to do something to help out? There's lots of ways you can help. Rather than just, look at me pandering to the public opinion. So I don't know. Postman makes you ... When you read Postman, you can get pessimistic about this stuff.Joel Bowman:Right.Chris Mayer:He knows it too because he's always critiquing and he doesn't necessarily have solutions. He tries hard at the end of the book to have some solutions to this.Joel Bowman:One of the things that I liked, which seems to go a little bit begging nowadays when you've read how-to books or nonfiction type 12 steps to this or what have you. They're heavy on prescribed solutions but not necessarily on asking questions. And one of the things I think that Postman did, at least in one of the interviews that I saw, the interviewer tasked him with like, "Okay, well, you seem to diagnose a pretty good problem here, but what have you got?"And he came up with a series of questions and I thought it was very Socratic of him where he sat back and said, "Well, I think for a start, we need to be sensitive to the kinds of questions that these new technologies ask of us." For example, who benefits from this particular medium, this new medium of communication, for example? Is it the community? Is it society as a whole? Is it a small group of people who are, excuse me, who are the owners? What problem does this technology solve is another question that he had, and he used the example where he had just been to buy, this will date the interview a little bit, but a brand new Honda Accord when he bought it at 295 and he said the salesperson there at the car yard was upselling him to cruise control.Chris Mayer:I remember this interview, yeah.Joel Bowman:So what problem does cruise control address? And the salesman was like, "I've never had that asked to me before, but I guess the problem is just keeping your foot on the gas." Of course, Postman's response was, "Well, I've been driving for, whatever, 45 years used now and that hasn't presented itself as a problem thus far." So anyway, just the framework of asking questions-Chris Mayer:Yes, that's one of the very memorable bits. I remember that interview because I remember that exact example. And I often think about that. When I get a new technology, oh, what solutions does this solve exactly? What problem does it solve? And it's like you almost read the book because the way he ends Amusing Ourselves to Death is with a whole series of questions. Again, because he's ... But he says there's a good reason for that in the end.Chris Mayer:I like this line where he says, "To ask the question is to break the spell." So you get hypnotized by this new medium or new technologies. But if you just ask the question, immediately, you are less under that influence and at least you're thinking about different ways it's impacting yourself and what you can say, what other people are saying, why they're saying it, things like who benefits. There's a lot of questions you can ask. And it diffuses it a little, its influence. Same thing if you see a persuasive piece of advertising, you know what's going on.Joel Bowman:Right.Chris Mayer:If buying doesn't make you sell, I want you to buy something. Just knowing that helps break the spell a little bit, right? Not always because sometimes things are so subconsciously influential. You can't really do anything about it. I've noticed that at least with myself sometimes, too. Damn it, they planted this idea in your head. Almost like I want to not see certain advertising. So I don't even want to see it because it's like magic and it pushes little buttons in your subconscious. So, yeah, that's your best route of resistance is to ask the questions.Joel Bowman:Yeah, it's a so what do you think of the emperor's new clothes type of question.Chris Mayer:Yeah.Joel Bowman:Well, actually, now that you've mentioned it, he does look a little naked over there.Chris Mayer:Yeah, it is. Postman's books are really easy to read. And this book is like, is it 200 pages long, it's 160 pages. And all of his books are like that. They're short. They're like sub 200. And they're very easy to read, quotable, witty. And they're only dated by the examples, like you said. He'll make references of things going on in Nicaragua or President Reagan. But if you didn't have those examples, it's really applicable.And he is a really good translator for Marshall McLuhan because he was really influenced by McLuhan. And McLuhan stuff is much more difficult and harder to read. I mean, I have this one here at Marshall McLuhan, Understanding Media, which is a classic. I mean, this book came out, I think, in the '60s. But a lot of the ideas Postman has come out of McLuhan. And this book is big, fat book and a dense book. But if you wanted to go into where this stuff came from, you could go to McLuhan.And there's one part in here, for example, because Postman is big on this too, like I mentioned, he's big into the medium and thinking about, "Well, what its effects are," really what its purpose is, the old Greek word like teleology. It has an almost inbuilt purpose, even though you may not know it. And McLuhan has this one chapter, where he talks about how we're all asleep and we don't necessarily think about what we're saying. For example, he's responding to a general says that, "We're too prone to make technological instruments the scapegoats for the sins of those who wield them."And Marshall McLuhan is saying, "That's ridiculous." And at first, I remember when I read that quote, I was like, "Makes sense to me," right? Technology, it's how people use it. And McLuhan is saying, "No, that's ridiculous." He goes, "Let me consider this. Suppose we were to say apple pie in itself is neither good or bad, it's the way it's used that determines its value. Or the smallpox virus isn't itself neither good or bad, it's the way it's used that determines its value. Or again, firearms are in themselves neither good or bad, it's the way they're used that determines its value. That is, if the slugs reached the right people, firearms are good.If TV too fires the right ammunition at the right people, it is good. I am not being perverse," he says. So I love that style because it makes you think, it makes you think about stuff. That's why it's such a great book.Thank you for reading Bonner Private Research. This post is public, so feel free to share it with sinners and saints alike...Joel Bowman:He goes all the way back to the agrarian revolution and the advent of the written word. And then all the way through to ... I guess Postman was probably influenced by his idea of the reading public, for example.Chris Mayer:Yeah. The trivium, McLuhan's big on that, the basic building blocks of knowledge. Yeah. And he was a big fan of James Joyce. And, yeah, the ancient Greeks. Yeah, he's challenging to read. But I think ... It took me two months to get to that book and I would just read a little bit every day. But lots of thoughtful stuff in there.Joel Bowman:That's interesting. It brings up another point as well. And as a card-carrying Joyce Head, who's about to head off to Dublin for the centennial balloons day celebration this June 16th. Yeah. Write me if you're going to be there and we'll grab a beer with the other freaks and geeks doing the balloon walk is this idea of attention span. And you mentioned this McLuhan's dense and rewarding book if you can put a couple of months into it. And obviously, Ulysses is notoriously a century on. And we're still unpacking all the different layers there.I'm wondering, to go back to Postman's questioning the nature of the medium itself as opposed to just the information that it's delivering, how you think these new mediums have affected both the individual and society in general's attention span. And how much we can pay attention to ... I mean, we have a look at these news cycles, they seem to just be getting increasingly shorter, where you need to, as you say, have an opinion on the history of Eastern European geopolitics. One week, you need to be a vaccinologist. The next week, you need to be a critical race theorist. The next week, you need to know all these things.I mean, how are these new mediums affecting our ability to be modern polymaths?Chris Mayer:Yes. Yeah, I agree. I mean, society in general, we become very impatient people with what we read. I mean, there's that little acronym people throw around, TLDR, too long, didn't read.Joel Bowman:Oh, right.Chris Mayer:And that's sad to me. People put that out. Yeah. And they put it out there like they're smart or being witty somehow but summarizing some longer argument in a soundbite. But, yeah, I mean, that's exactly right. A lot of the books in my library, you're not going to find the quick New York Times bestseller. A lot of these books, they take time to get through, but that's the rewarding part of it is to spend a couple of months with one book, an author, an idea and going through it.I mean, it seems like that's really becoming something that fewer and fewer people are interested in, right? I mean, like you say, it's a death of long-form journalism is another area where you see that. Everything has to be compressed and served up so somebody can get it in 30 seconds of lesson and be done.Joel Bowman:Yeah, even I think about this with regards to just the realm of fiction in general. Maybe have a different experience here but pretty much all ... And this seems to go very along that, this would be incredibly unpopular to say, but it seems to go very much along gender lines, where guys tend to read, older guys that I know, tend to read nonfiction and completely issued fiction have just zero patience for it, fall asleep at page three. And it seems to be only women, at least that I speak to, who have any patience for fiction and maybe that's just they have different types of patience or different types of tolerance levels, do you find that as well. It's kind of a weird observation.Chris Mayer:Yeah. I mean, one of the things I've observed too is that a lot of new books that come out, especially, I don't know, they're more topical or about investing and they're mostly nonfiction, they all tend to be around 200 pages. Almost like the publishers have drawn a line.Joel Bowman:This is the public's attention span!Chris Mayer:Yeah, it's 200 pages, substantial enough where you can still sell it as a book between 200 covers, but it's not going to put off anybody to show them this. Every once in a while, there are exceptions, right? And they become noteworthy in themselves. I remember when David Foster Wallace had Infinite Jest. Remember, that was a brick.Joel Bowman:Yeah.Chris Mayer:And David Graeber's Debt book was another big fat one that became a bestseller. So there are exceptions, but in general, a lot of these books are pretty thin.Joel Bowman:I wonder how many of those big classic tomes, if Dostoevsky or Thomas Mann rocked up with Buddenbrooks to the publisher with like-Chris Mayer:And then it comes in with Critique of Pure Reason, here you go.Joel Bowman:I'm sorry, you've got to ... Yeah, you're going to have to-Chris Mayer:We'll break that up in a series of 10.Joel Bowman:Yeah, yeah. How about we do a Netflix special and then people can binge it overnight? So do you-Chris Mayer:There's one thing you mentioned that I want to get to before I forget was you said about, you have to feel like you have an opinion about everything. In one week, you're a vaccinologist. And next week, you're an expert on recurring foreign pot. I mean, that's classic.But that reminded me of one of Postman's solutions. And it's not in any of the books we've discussed. There's another book called How to Watch the News or something like that. But in the end, he gives 10 things. And one of them is, try to reduce the number of opinions you have by a third. So it's just an interesting exercise to go through. Try it yourself just for a week. Try to ... Instead of when you see some story or some idea, try not to have an opinion about it and say, "I don't know."Joel Bowman:Yeah.Chris Mayer:It's interesting. It's almost a little liberating because every time you take an opinion, it's almost like you're staking some ground and making a commitment because then people are more reluctant to change their opinions. So if you try to withhold your opinion as long as possible and limit the number of opinions you have, it's interesting psychological effect, just trying it out.Joel Bowman:I could see how that could have a cascading effect as well in an increasingly bifurcated society, where if you voice a particular opinion on one issue, it almost hems you in with regards to a whole litany of other issues that might have absolutely nothing to do with the original issue at hand. I mean ... Chris Mayer:Absolutely.Joel Bowman:... things that are completely independent like, "Oh, you believe in global warming, okay, you have to wear masks during a pandemic outside playing golf." Just things that have nothing to do with one another, but we have to be Team Red or Team Blue.Chris Mayer:Yeah, exactly. What, do you believe in climate warming? Well, Trump was a good president. What do you mean? How are those two related?Joel Bowman:Right.Chris Mayer:Everything's politicized or whatever. That's another reason why they resist labels. That's another exercise is just resist labeling yourself, resist taking on any label because, again, that hems you in. Suddenly, you think yourself as a X. And there's some internal pressure to believe everything that an X believes or whatever. And it makes you take sides just based on a label rather than reasoning your way through the issues.Joel Bowman:So do you think that there's a takeaway or some applicable lesson to be drawn as an investor? I mean, in definitely multiple senses, if you're the one guy who's going to sit through and read the big dense tomes and not just skim the executive summary, does that give you an edge, or?Chris Mayer:Yeah, I think there's always an edge for the patient, who are willing to read the footnotes, as the old saying goes. But it's tough because if everyone else thinks the other way, in the short term, you can look pretty dumb. And you can look pretty dumb for a while. I mean, it could go on for months or you may not get validation for a year or several years.So it requires patience to go through that but also patience to then suffer when things aren't going your way for a while. I see it all the time. Some report will come out on some company and I'll know that it's sensationalist and not particularly true in certain areas, but it'll still not stock down from 10% or 15%. And then it may not recover for months until it cycles through. And for those of us who are professional investors and live on reported returns, it can be difficult. Well, just hang on, it's coming.Joel Bowman:Right. I guess it must happen the other way, too. Yeah, go on.Chris Mayer:Yeah. Otherwise helps too, I was talking about labels. I mean, people will label certain companies in certain ways because they want you to think about it in a certain way. But you get past the label. So for example, I don't know, let's take a random example, people that are being on Tesla will want you to think of Tesla as a technology company in some way or is a battery company, where people who are not so enamored with Tesla folks and say, "Well, no, it's a car company." And they look at it through that lens.And so you come through very different points of view, depending on what label you adapt. And that happens all the time as well.Joel Bowman:And I guess it must go the other way as well when something flashes across the news and new technology and something shoots to the moon. And you might be sitting there saying, "Actually, this thing, it doesn't have any earnings. It's got no growth. It's got no pathway to profitability." But you're watching a mania unfold.Chris Mayer:That's probably actually more common because I've been in volatile markets close to 30 years and I've seen that happen many times to me, where I'll be sitting and these companies will be flying and I won't be involved in any of them, but it takes time and then they unravel. So you see companies like Carvana didn't make any money but has a concept that got people excited and went to the moon. And now it's starting to finally come apart. There's a lot of other businesses like that that don't make any money. But they had a concept.And what I've seen people do, and particularly younger investors will do, I mean younger than me, they'll focus on things that I thought they'll talk about unit economics. So they'll say, I don't know, I don't want to use too many specific name companies, but let's say Company X, they sell something. And the unit economics of what they sell is really compelling. But the company overall is still not making any money because the operating expenses and everything below that line is high and it continues to grow. But they say, "Oh, when it scales." And then they do these projections based on unit economics.And what happens a lot is those businesses never get to that scale or they continue to grow, but the operating expenses continue to grow right along with it, and they never quite get there. And so I have this basic rule that I want companies to make a GAAP profit, a profit according to generally accepted accounting principles. And if you just have that filter alone, I know you would have avoided a lot of the trouble over the last six to nine months, where these companies have fallen 70%, 80%, 90%. Didn't make any money, but for a little while, they were darlings.Joel Bowman:Yeah, it's interesting. I spoke to our mutual friend, Mr. Eric Fry, last week. And I asked him if there was a couple of key takeaways that he could give to our listeners with regards to investing and when you're getting all this noise to talk again about the Postman idea of this saturation, this glut of information, how to cut through that noise in just a couple of basic starting filters that investors can use.And he said at the margin, you can cut out a lot of noise by just looking at earnings as a company outgrowing earnings. And he said, "It sounds almost facile, but it's ignored by a lot of people because they focus on crafty accounting." And Eric referred to it as accounting wizardry where, well, it's earnings but it's adjusted for this, or all these other adjustments that the accounting department makes that can hide a lot of a company's lack of earnings or lack of earnings growth.And then one of your favorite indicators, of course, was insider buying or selling. And at the margin, you're not going to be right all the time but those two things can help cut out a lot of the information or the glut of information that is maybe not as worthwhile as others would have one believe.Chris Mayer:Yeah, I would say overwhelmingly, for most investors probably, almost everyone is listening to us, just following the companies that make a profit. Just that filter alone. Now, we have to be fair, you're going to miss sometimes a great business. I mean, Amazon didn't report a GAAP profit for quite a while, right? So you're going to have to ... I wrote a blog post about this not too long ago, that every filter you create is going to have fish slipped through the net. I mean, that's the nature of it, you're not going to catch everything.But the idea of having a filter as an investor is to cut down on that universe because if you're looking globally, as I do, there's tens, thousands security. So you have to find some way to look at that world. And for me, yeah, profit. The other way to do it is inside ownership that cuts out a lot of stuff. I'm only investing in companies where there's a family or there's a CEO or somebody owns a decent slug of stock.The other thing that you always use is balance sheet, just looking at anything that's got a lot of debt out. So if you just sift by that, suddenly, the stuff that falls through is worth taking a look at, usually. And doesn't mean, of course, that there isn't some debt-fueled company that has no insider ownership that's going to be a 10 bagger. Of course, I'm going to miss that.Joel Bowman:Right.Chris Mayer:But that's the nature of filters.Joel Bowman:And I guess it imposes whether you're looking at information just in general from the media. It could be political information or entertainment information or whatever the news cycle is, or information that informs your investing. If you employ some of these tools, then it can impose a lot of self-discipline on you, when you're just focused on a smaller universe, as you say.Chris Mayer:It does. And then the other question, I take a very hard pragmatic approach when it comes to trying to sift through news and economic reports is I always ask myself, "Well, what would be the consequence of taking a belief here either way? Would it matter?"Joel Bowman:Taking a kind of agnostic approach from the outset, yeah.Chris Mayer:Yeah. Yeah. I mean, it was a mix ... Should I spent a lot of time figuring out the Russia-Ukraine thing? What practical difference would it make to me to take one side or the other? Or just lots of political questions or that way. And it helps you conserve your mental energy and your focus.Chris Mayer:There's another saying I like, where it's ... I don't know who first said it, but it's you are what you pay attention to. So you think about that, you are what you pay attention to. So if you pay attention a lot of this trivial nonsense all the time, that's who you are, that's who you become. Do you want to be that? Feed your mind good stuff. Pay attention to things that have some consequence that matter.Joel Bowman:Yeah. I think virtue is the habits that we undertake every day.Chris Mayer:Yeah.Joel Bowman:And it can be a bit of a spiral. I mean, I think we've probably, all listeners included, been around people who are so caught up in the whirlwind of Postman's information glut and this rapidly constricting news cycle that it's pretty easy to get yourself overheated. I mean, just from like a mental health standpoint, it's pretty easy to get yourself overheated on things that, well, are you going to become an expert in this in the next day or weeks? Shouldn't you focus on things that are, that old Voltaire quote, of tending your own garden that we have other things to do.Chris Mayer:There's a lot of wisdom like that. Girth is about sweeping your own doorstep.Joel Bowman:Sweeping your own doorstep, yeah. There you go.Chris Mayer:Wise people. But it gets to the title of his book, Amusing Ourselves to Death. So much of this is really entertainment. I mean, what we call news is entertainment. It's packaged that way. It's meant to elicit a reaction. And if you allow yourself, you're just letting them tug in control of you. So, yeah, I think that's a good message out of that.Joel Bowman:And so just changing tack slightly, what do you think of Twitter as a tool? I mean, we've talked about the drawbacks and the potential detrimental effects. I know a lot of people who see it as a tool to be able to cut through other information because they're able to focus on maybe a few investors that they like, and they follow, and it's kind of real-time.Chris Mayer:Yeah, I have a love and hate relationship with Twitter, really, because on the one hand, I've met some interesting people through Twitter. That has been valuable. There's been research that has been exchanged over Twitter. That's been valuable. I've got, I don't know, over 30,000 followers. So from a business perspective, it brings attention. I know at least a couple of investors have found me through Twitter. So it's not of no value, but then I am very mindful of the downside, too. So there are ways that I manage it. I'm only on it for certain times. So I'll go and try and tweak some things.I like to joke with my friends and say, "My Twitter account is a one-way feed." I put stuff out but I'm not going to engage anybody. Don't be offended if I don't see your tweet, I don't favorite you and retweet you. I don't do it for anybody. I don't pay favorite and tweet. I have lots of people I follow. It seems almost like a courtesy and they follow you. "Okay, I'll follow you." But I don't get into it that much because it's an enormous time sink otherwise.And you find yourself just ... I've had this early on when I was on Twitter, you're there for 45 minutes and then you're done. You're like, "Well, what did I do?" It's like junk food for the brain. What did I really get out of it? Yeah. So I tried to manage it. I limit myself.And the other things I've learned too, and this was earlier on, I used to talk much more about positions. But then I found that was a negative to do that because then people start to think of you as the guy for that position and then they want to come and ask you everything, every twist and turn. You got to be the guy who narrates it for people. And again, it may affect me in ways I don't really appreciate, forced me to dig in on a name that otherwise if all these people didn't know I owned it, they'd be gone or whatever.So I've limited that as well. I have discussed some names, times, but I don't give people the running commentary of what I'm doing or any of that anymore. So there are ways to manage it. Yeah.Joel Bowman:If they want the running commentary of what you're doing, they can follow your blog and I'll give you a plug, Chris, at woodlockhousefamilycapital.com for our listeners who want to find out more about your work.Chris Mayer:There you go. Thank you. You Google that and you'll find it. I write an occasional blog and then my Twitter which I do occasionally. The other annoying thing about Twitter is I keep getting these impostor accounts.Joel Bowman:Oh, really?Chris Mayer:It's crazy.Joel Bowman:Do you have the real Chris Mayer or something like that? What's your handle so people can avoid those?Chris Mayer:No, I tried Twitter. I tried to get verified a couple of times and they keep rejecting me. I think I'm just not quite famous enough or something.Joel Bowman:Oh, okay.Chris Mayer:But it's terrible because people will come up with a Twitter page, it looks exactly like mine. My handle is chriswmayer. They'll change it by some minor way. It'd be chrisi or they have two i's in or an x or something like that. But they make the page otherwise look exactly like mine and they tweet the same thing. And then they use it to sell some garbage.Most of the time, I've caught them pretty early and they don't have very many followers. But there was one that I just found, people were telling me about, has more followers than my real account. It's pretty embarrassing.Joel Bowman:Wow. Well, maybe you'll get the Fatal Conceits podcast bump and that will get you up to blue check status.Chris Mayer:There you go. That's it. I need that blue checkmark. I mean, there are other investors I know, they have blue checkmarks. And they're not particularly any more famous than I am. I mean, within investing, they're known, but they're not really that well known outside that world and they have blue checkmark. So I don't know what they did.Joel Bowman:Well, we'll probably have a whole other discussion on just the elitism that goes on within the new communication technology platforms. But one, you're talking about Twitter being a one-way relationship for you then and it reminded me of one quote of Postman's, which I wanted to get in. And this is another one of the questions that he routinely asks in order to frame the discussion you see. It's constantly going on in his own head. And it's as simple as, am I using this technology or is it using me? I think that cuts to the heart of the matter.Chris Mayer:I like that one. That's really good. That's really, really good.Joel Bowman:Right.Chris Mayer:Yeah. Yeah, the irony is I'll put that on Twitter.Joel Bowman:But in a one-way relationship.Chris Mayer:There you go.Joel Bowman:All right, Chris, that's probably a pretty good place to leave it for this one, mate. Thank you as always for sharing your insights. You've recommended so many good books to me over the years...Chris Mayer:Well, that's good. I'm glad you like Postman and, clearly, you've read quite a bit of stuff because you were spot on the whole time. Yeah.Joel Bowman:I'll put a link to a few of his books underneath because hopefully our listeners can get something out of them as well.Chris Mayer:And another one, Technopoly, I think it is. Those are the two that I would really recommend. Very good. And then after that, you can find your way to his other books as you're interested in different topics.[Ed. Note: Find these two books here…Amusing Ourselves to Death: Public Discourse in the Age of Show BusinessTechnopoly: The Surrender of Culture to TechnologyJoel Bowman:Perfect. Chris Mayer, Woodlock House Family Capital fund, check it out. And chriswmayer, don't be taken in by the impostors on Twitter. And for our listeners, please head over to our Substack, which is at bonnerprivateresearch.substack.com, where you can find plenty more material, including conversations just like this one. That's all. Catch you next week.Thank you for reading Bonner Private Research. This post is public, so feel free to share it with media elites and talking heads alike... This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit bonnerprivateresearch.substack.com/subscribe

MyPF PodCat E00045: Book Chat with Chris Mayer, author of 100-Baggers

My Personal Finances PodCat

Play Episode Listen Later Mar 10, 2022 39:37

PodCat interviews Christopher Mayer author of 100-Baggers: Stocks that Return 100-to-1 and How to Find Them. Learn the key characteristics of 100-baggers and how anybody can do this without needing a MBA or finance degree.

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S1E8: Industry Sibling Duo, Lisa Parrish and Christopher Mayer

Home Builder Happy Hour

Play Episode Play 30 sec Highlight Listen Later Dec 2, 2021 58:48

Welcome to Home Builder Happy Hour! It's time to mix your favorite cocktail, pop your headphones on, and learn all about the latest homebuilding news, tips, and trends from Get Community's super siblings, Ryan and Kelly. Tune in for insightful discussions with industry leaders and advantageous tips from insiders who know how to navigate the competitive landscape of the homebuilding market.Powerhouse sibling duo Lisa Parrish and Christopher Mayer are the children of Peter Mayer from Peter Mayer Productions. Peter Mayer Productions has been the homebuilding industry's most prominent national award show hosts, hosting shows including the Golden Nugget Awards, National Sales and Marketing Awards, and the MAME Awards in several states. They are no strangers to the homebuilding industry. Lisa has been running the family company for 35 years (and currently with her husband Shane), and Chris Mayer is a prominent architectural photographer who has helped homebuilders win awards with his incredible photography.Chris and Lisa have watched all sorts of changes take place over time, one of the most important ones being technology, and we discuss how that has impacted the evolution of their work over time. In today's episode, the duo will share their individual endeavors as well as the growth they've seen in the homebuilding industry, while recapping personal experiences. Want more insights on the Homebuilding Industry? Join our newsletter mailing list to receive news and freebies directly to your inbox!Connect with Lisa Parrish: https://www.linkedin.com/in/lisamparrish/Connect with Christopher Mayer: https://www.linkedin.com/in/christopher-mayer-4508229/Follow Get Community, Inc. on social media!Website (Sign Up for our Newsletter): https://GetCommunity.com/Facebook: https://www.facebook.com/GetCommunityInc/Instagram: https://www.instagram.com/GetCommunity/LinkedIn: https://www.linkedin.com/company/getcommunity/

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S1E0: Welcome to Home Builder Happy Hour

Home Builder Happy Hour

Play Episode Play 30 sec Highlight Listen Later Oct 7, 2021 4:41

Welcome to Home Builder Happy Hour! It's time to mix your favorite cocktail, pop your headphones on, and learn all about the latest homebuilding news, tips, and trends from Get Community's super siblings, Ryan and Kelly. Tune in for insightful discussions with industry leaders and advantageous tips from insiders who know how to navigate the competitive landscape of the homebuilding market.Happy hour just got happier! Ryan and Kelly are excited to introduce you to the show and get you up to speed with what you can expect from this season of Home Builder Happy Hour. You'll get information about what's relevant to the homebuilding industry, including a breakdown of this year's hottest marketing trends, information about Matterport, drones, Instagram's new direction, TikTok, and more! They also sit down with dynamic industry sibling duos such as the Font Brothers and Lisa Parrish and Christopher Mayer and discuss their impact and their journey to where they are now. Tune in every Thursday at 4pm for the happiest of hours with Ryan and Kelly.Want more insights on the Homebuilding Industry? Join our newsletter mailing list to receive news and freebies directly to your inbox!Follow Get Community, Inc. on social media!Website (Sign Up for our Newsletter): https://GetCommunity.com/Facebook: https://www.facebook.com/GetCommunityInc/Instagram: https://www.instagram.com/GetCommunity/LinkedIn: https://www.linkedin.com/company/getcommunity/

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66. Mesin Pertumbuhan dari Saham

Bayu Rambling about Finance

Play Episode Listen Later Oct 6, 2021 14:08

Dari bukunya Christopher Mayer ~ 100 Baggers. Saya intisarikan 5 hal yang menyebabkan perusahaan mampu bertumbuh 100x dari harga pembelian.

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How to find the next 100 bagger

Buy Hold Sell, by Livewire Markets

Play Episode Listen Later Oct 5, 2021 17:39

100 baggers are few and far between. The stories of these stocks' success inspire investors' the world over, and keep them coming back to uncover the rare gems of the market time and time again. These exponential growth stocks can return $100 for every $1 invested, turning a $1000 investment into $100,000, a $10,000 investment into $1 million or a $100,000 investment into $10 million. Afterpay, for example, was listed on the ASX in May 2016 for $1.00 per share. Just over four years later, and the buy-now-pay-later darling hit 100 bagger status. This quick trip to the "moon" is actually quite rare. In fact, Christopher Mayer, author of 100 Baggers: Stocks that Return 100-to-1 and How to Find Them, found that it can take an average of 26 years for a stock to become a 100-bagger - meaning, these investments can make you rich over the long term, but they are certainly not a "get rich quick" scheme. So in this thematic episode of Buy Hold Sell, Livewire's Ally Selby is joined by Frazis Capital's Michael Frazis and Holon Global Investments' Heath Behncke for their insight into finding exponential growth stocks. We discuss the metrics they use to analyse the global universe of opportunities, three essential characteristics of 100 baggers, as well as their highest conviction holdings right now. Note: This episode was filmed on Wednesday 29th September 2021. You can read an edited transcript below: https://www.livewiremarkets.com/wires/how-to-find-the-next-100-bagger/

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#157 100Baggers - Mögliche Kandidaten?

Play Episode Listen Later Aug 26, 2021 7:35

Im letzten Teil der Miniserie geht es um drei Unternehmen aus meinem Depot, mit denen ich einen kleinen Check up mache. Könnte es in den nächsten Jahrzehnten für einen 100Bagger reichen? Hier der Link zu dem Buch von Christopher Mayer, auf das sich die Episoden beziehen: https://amzn.to/3fSVroY (Werbung - Als Amazon Partner verdiene ich an qualifizierten Verkäufen) Wenn euch der Podcast gefällt, abonniert den Kanal und lasst mir sehr gern eine Bewertung oder Rezension da (zB. bei iTunes). Für Fragen an mich, Vorschläge für Episoden-Themen oder wenn ihr einfach noch mehr Börsen Gelaber wollt: Fan Page https://ko-fi.com/boersengelaber Twitter & Instagram @borsengelaber

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#156 100Baggers - Was braucht es dafür?

Play Episode Listen Later Aug 23, 2021 4:24

Welche Zutaten braucht es damit ein Unternehmen sich im Wert verhundertfachen könnte? Heute gibt's die Antworten. Hier der Link zu dem Buch von Christopher Mayer, auf das sich die Episoden beziehen: https://amzn.to/3fSVroY (Werbung - Als Amazon Partner verdiene ich an qualifizierten Verkäufen) Wenn euch der Podcast gefällt, abonniert den Kanal und lasst mir sehr gern eine Bewertung oder Rezension da (zB. bei iTunes). Für Fragen an mich, Vorschläge für Episoden-Themen oder wenn ihr einfach noch mehr Börsen Gelaber wollt: Fan Page https://ko-fi.com/boersengelaber Twitter & Instagram @borsengelaber

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#155 100Baggers - Einige Beispiele

Play Episode Listen Later Aug 19, 2021 6:36

Heute stelle ich euch ein paar der Beispiele aus dem Buch vor. Kennt ihr bestimmt alle! Hier der Link zu dem Buch von Christopher Mayer, auf das sich die Episoden beziehen: https://amzn.to/3fSVroY (Werbung - Als Amazon Partner verdiene ich an qualifizierten Verkäufen) Wenn euch der Podcast gefällt, abonniert den Kanal und lasst mir sehr gern eine Bewertung oder Rezension da (zB. bei iTunes). Für Fragen an mich, Vorschläge für Episoden-Themen oder wenn ihr einfach noch mehr Börsen Gelaber wollt: Fan Page https://ko-fi.com/boersengelaber Twitter & Instagram @borsengelaber

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#154 100Baggers - Was ist das?

The Telescope Investing Podcast

Play Episode Listen Later Aug 16, 2021 3:10

Im Auftakt der Miniserie zu sogenannten 100Baggers geht es heute zunächst darum was das eigentlich ist. Hier der Link zu dem Buch von Christopher Mayer, auf das sich die Episoden beziehen: https://amzn.to/3fSVroY (Werbung - Als Amazon Partner verdiene ich an qualifizierten Verkäufen) Wenn euch der Podcast gefällt, abonniert den Kanal und lasst mir sehr gern eine Bewertung oder Rezension da (zB. bei iTunes). Für Fragen an mich, Vorschläge für Episoden-Themen oder wenn ihr einfach noch mehr Börsen Gelaber wollt: Fan Page https://ko-fi.com/boersengelaber Twitter & Instagram @borsengelaber

buch kanal verk vorschl rezension miniserie zb gelaber christopher mayer

How to Earn 100x Returns from the Stock Market

Investing 101

Play Episode Listen Later Dec 25, 2020 7:35

Hello Investors, In this episode, I have shared a short summary of an excellent book which I "100 Baggers" by Christopher Mayer. In this book, the author has shared his concepts and ideas of finding 100 Baggers in the Stock Market. The episode is very short summary of it and the book is written with respect to the USA context, I have tried to make an episode in an Indian context. It's a great book, if you want to find 100 Baggers opportunities in the stock market I highly reading this book. Click here to buy 100 Baggers by Christopher Mayer! ***RECOMMENDED READING LIST*** The Little Book of Common Sense Investing (Jack Bogle's awesome advice on index funds) The Millionaire Next Door (Great Read to know how money works by Thomas J. Stanley) One Up On Wall Street (Peter Lynch's Best Advice to Stock Market Beginners) Rich Dad Poor Dad (Personal finance book of all time) Think and Grow Rich (the ultimate book on money mindset and wealth consciousness) Open an online investment account. DISCLAIMERS & DISCLOSURES: This content is for education and entertainment purposes only. I do not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal. This description contains affiliate links that allow you to find the items mentioned in this video and support the channel at no cost to you. I am a participant in the Amazon Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to www.amazon.in. Thank you for your support! SAY HI ON SOCIAL: Twitter: https://twitter.com/pratikchn Instagram: http://instagram.com/pratikchn LinkedIn: https://www.linkedin.com/in/pratikchn/ Discord: https://discord.gg/kCUnmr7 Open an online investment account. #100baggers #beststocks2021 #coffeecaninvesting Music: chill. by sakura Hz https://soundcloud.com/sakurahertz Creative Commons — Attribution 3.0 Unported — CC BY 3.0 Free Download / Stream: http://bit.ly/chill-sakuraHz Music promoted by Audio Library https://youtu.be/pF2tXC1pXNo

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Podcast #14 - 100 baggers

Play Episode Listen Later Nov 24, 2020 25:13

If you'd invested $1,000 in Amazon at its IPO in 1997, your shares would now be worth over $2,000,000. Investing in the right companies can result in life-changing returns, but how do you find those companies? In this week's episode, Luke & Albert take a look at Christopher Mayer's book, '100 Baggers', and discuss some of the core principles of finding extreme growth companies You can buy Chris' book here: Amazon UK Amazon US We're also doing a book giveaway in the episode, listen to the end to find out how to win. You can email us at feedback@telescopeinvesting.com. ----- If you enjoyed this episode, please consider subscribing to the Telescope Investing website at https://telescopeinvesting.com/subscribe/ Or you can contact the hosts Luke & Albert at https://twitter.com/LukeTelescope https://twitter.com/AlbertTelescope

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TAOVI4: What 100 Bagger Companies have in Common

Play Episode Listen Later Sep 24, 2020 31:08

In Episode 4, Art discusses Christopher Mayer's 2018 book, 100 Baggers: Stocks That Return 100-to-1 and How To Find Them. How is this book relevant to contemporary value investing? 100 Baggers book: https://www.amazon.com/100-Baggers-Stocks-100-1/dp/1621291650 Leave Art a comment or question: Audio message: https://anchor.fm/artofvalueinvesting Twitter: @theartofvalue Email: theartofvalueinvesting@gmail.com --- Send in a voice message: https://anchor.fm/theartofvalue/message

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TAOVI4: What 100 Bagger Companies have in Common