• Summary

  • Welcome to The Business Brew This podcast’s mission is to dig deep into the thought patterns and analysis of investors and business people. The podcast stemmed from Bill Brewster consistently feeling like he was listening to prepackaged material while listening to podcasts. Instead, he wanted long form, in depth, discussions about finance, capital allocation, and the psychology of investing/business. Bill is a private investor. He cohosts the podcast Value: After Hours with Tobias Carlisle and Jake Taylor. Tobias, Jake and Bill met at a Berkshire Hathaway meeting and formed a lasting friendship. And, as it turns out, people really like the podcast. While Bill tries to replicate Warren Buffett and Charlie Munger’s thought processes, he is heavily influenced by Bill Miller III, Stan Druckenmiller, and others. This podcast is his attempt to dig deeper into other investing/business philosophies and share the knowledge with the world. We are interested in interviewing portfolio managers, Wall Street sell side analysts, buy side analysts, private investors, owner operators, and anyone that is willing to go in depth about running a company/division. So, if you are interested in participating please email us with the subject “Guest Appearance.” Disclaimer: Bill manages a portfolio under the name of Sullimar Capital Group. This podcast is for informational and educational purposes only. Nothing in this podcast or on SullimarCapital.Group is investment advice. All information in this is opinion based, potentially biased, and requires verification. Bill and his guests make no representation, warranty or undertaking, express or implied, as to the accuracy, reliability, completeness or reasonableness of the information contained in these podcasts. Any assumptions, opinions and estimates expressed constitute the participant’s judgment as of the date thereof and are subject to change without notice. Any projections contained in the information are based on a number of assumptions as to market conditions and there can be no guarantee that any projected outcomes will be achieved. This podcast does not accept any liability for any direct, consequential or other loss arising from reliance on the contents of this presentation. This podcast series DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICIATION OF AN OFFER TO BUY ANY SECURITIES MENTIONED OR DISCUSSED. Seek the your financial, tax, legal, accounting, or other advisor’s advice before making any investment decisions. We are not your fiduciary or advisor.
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Episodes
  • Ian Cassel - Micro Machine

    Mar 4 2021
    Ian Cassel is the CIO at Intelligent Fanatics Capital Management ("IFCM").  IFCM invests in the smallest public companies in the world. They focus on businesses that are run by management teams who are capable of growing those businesses while benefiting stakeholders. Ian also founded MicroCapClub.
     
    In this episode Ian discusses how he became a microcap investor. One of his first successes was XM Satellite Radio. He discovered the company when it was a microcap trading for $2/sh and didn't have any contracts with car manufacturers yet. Ian saw they were presenting at a conference in NY, got in a car, and met with the CEO. After that meeting Ian became obsessed with turning into a full time private investor.
     
    Ian stresses the importance of doing deep due diligence, remaining rational, and keeping personal expenses "variable." He invests in a concentrated manner (only a few stocks at a time), which is very Buffett like. Unlike Buffett, however, Ian discusses the importance of remaining open to selling winners. This is because Ian is "fishing in a pond" of smaller companies and execution risk must always be monitored.
     
    Ian is a refreshing voice in the investment community and we are happy to have him join the show!
     
    Note: We reference Connor Haley's presentation in this discussion. That presentation can be found here
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    2 hrs and 8 mins
  • Naufal Sanaullah - Inflation: Not So Certain

    Mar 1 2021
    Naufal Sanaullah is the macro advisor at EIA Alpha Partners.  EIA is a minority-owned firm that has realized very impressive results since inception.  Among its many awards, EIA boasts the following (see https://eiaalphapartners.com/):
     

    #1 Net Returns of Top Performing Relative Value Strategies Hedge Funds in 2019

    #3 Net Returns of 2017-Inception Hedge Funds in 2019

    #4 Net Returns of Top Performing Volatility Trading Hedge Funds in 2019

    #5 Net Returns of Top Performing Hedge Funds in 2019 with Less than $100mn in AUM

    #8 Net Returns of Top Performing North America-Based Hedge Funds in 2019

    #16 Net Returns of Top Performing Hedge Funds in 2019

    Naufal is responsible for macro strategy, macro trading, and overall portfolio management at EIA. Prior to EIA, he was involved in portfolio construction and macro strategy at Li Global Investors, a macro hedge fund in New York City. He studied mathematics at University of Michigan and Stony Brook University. His macro research has been highlighted in various media platforms, including Bloomberg, Business Insider, and Financial Times. He enjoys spending his free time producing hip-hop instrumentals and nurturing his puppy Nas.
     
    In this episode Naufal joins Bill to discuss Naufal's view on inflation, policy efficacy, and what to watch for going forward.  Bill, historically an Austrian leaning investor, found it interesting to listen to Naufal describe his view of the world, which is far more Keynesian and could be called Modern Monetary Theory driven.  
     
    The Business Brew is proud to feature this conversation for many reasons.  One of which is the discussion is counter to the current market narrative/pricing on/of future inflation. If you like to consider both sides of an issue, this is a must listen macro episode.   
     
    Also, please consider donating to https://www.publicolor.org/ if Naufal's message resonates with you. 
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    1 hr and 51 mins
  • Oren Falkowitz - No Phishing Way

    Feb 25 2021

    Oren Falkowitz is the founder of Area 1 Security. He was Chief Executive Officer of Area 1 2013-2020 and currently serves on the Board of Directors. Mr. Falkowitz holds numerous patents and is an avid wearer of bow ties on Thursday. Previously, he was the founder of sqrrl (acquired by Amazon) and held positions at the National Security Agency (NSA) and United States Cyber Command (USCYBERCOM).

    He joined the Business Brew to discuss his career and the cyber security landscape. We hope you enjoy.

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    1 hr and 58 mins

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Best Warren Buffett Style Investing Podcast

Great knowledge and experience from real people in the trenches that are value investing. If you’re looking to do the work and learn how to invest like the best value investors then this is a must listen podcast.