In this episode, we continue our exploration of financial risk management with Eric Schaanning, a thought leader in the field. Following his dynamic insights from the previous discussion, Eric delves into the intricacies of treasury functions within major banks and their critical role in risk management. Together with Guy Spier, they unravel how a small treasury team, despite its size, manages significant financial risks compared to the larger pool of relationship managers.  Listeners will gain a clear understanding of complex concepts like yield curves and risk spreads, as Eric adeptly explains their implications in today's banking landscape. The duo examines the Basel Committee on Banking Supervision (BCBS) scenarios for interest rate shocks, pondering whether current banking models can adequately address extreme interest rate fluctuations.  As they venture into discussions on net interest income (NII) and the economic value of equity (EVE), Eric shares his expertise on how these concepts can be applied to personal finance, making the conversation relevant for individuals navigating their own financial landscapes. With an engaging blend of practical knowledge and theoretical insight, this episode offers valuable perspectives that push the boundaries of traditional risk management. Tune in for another captivating dialogue that not only expands your understanding of financial systems but also equips you with practical tools for managing your financial future! Full transcript available here: https://aqfd.docsend.com/view/dyu45ikdqvarwf5pHere's a link to the presentation: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5007032 Contents: (00:00:00) Navigating Interest Rate Risks: A Deep Dive into Bank Balance Sheets(00:08:57) Measuring Interest Rate Risk: Insights into NII, EVE, and Bank Profitability(00:17:09) Banking on Transparency: The Impact of Regulatory Frameworks opn Financial Institutions  (00:31:18) Gap Risk in Banking: Insights from the Delta EVE Measure and Silicon Valley Bank(00:39:56) From Crisis to Regulation: The Evolution of Interest Rate Risk Management(00:53:52) Balancing Act: Large Banks, Regulation, and Operational Challenges  (00:59:21) Bridging Capital and Growth: Perspectives on Modern Banking  (01:23:55) Treasury Functions Unveiled: The Backbone of Risk Management in Banking  (01:29:02) Understanding Interest Rate Shocks: A Comprehensive Look at the BCBC Scenarios

Eric Schaanning is a dynamic figure in financial risk management, known for his innovative approach to navigating the complexities of market and valuation risk. Leading these critical functions for Nordea Group, Eric blends a wealth of experience with a forward-thinking mindset. His career spans impressive roles, including overseeing risk management for UBS and Credit Suisse in Zurich, where he dealt with the high-stakes world of managing risk across massive deposit and loan portfolios. Full transcript available here: https://aqfd.docsend.com/view/bxtu77b955d6grcy  Here's a link to the presentation: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5007032 Contents:(00:00:00) Asset Liability Management & Interest Rate Risk in the Banking Book  (00:06:03) A Case Study in Interest Rate Risk and Asset-Liability Mismatches(00:14:24) Liquidity, Insolvency, and Interest Rate Risk  (00:20:15) The Mechanics of Bank Balance Sheets(00:32:24) Bank Balance Sheets, Loan Reporting, and Equity Capital  (00:49:28) Exploring the Dynamics of Fractional Reserve Banking, Interest Rate Risk, and Regulatory Frameworks(01:03:30) From Pillar One to Pillar Three: Regulatory Safeguards and Banking Risk

Simon Kold is a Danish entrepreneur and investor who’s making waves in the financial world with his firm, Kold Investments. Before founding Kold Investments, Simon spent over a decadeatNovo Holdings, a powerhouse investment firm managing around €150billionin assets. His approach to investing is anything but ordinary. Simon runs a single-strategy, concentrated public equityfirm that focuses on companies with network effectsandscale advantages, a strategy that sets him apart from the crowd. He’s all about finding businesses that have the power to grow and dominate in their sectors. Full transcript available here: https://aqfd.docsend.com/view/akcftczb463rhcam Contents: (00:00:01) Stand-Up, Fall Down, Get Back Up: Lessons from Comedy and Life(00:13:47) From Stand-Up to Stocks: The Unlikely Path(00:30:30) Falsification, Not Verification: Rethinking Investment Strategies(00:53:30) Tattooed in Business: The Long-Term Rewards of Relentless Commitment(01:02:57) The Evolving Landscape of Business: Insights on Leadership and Network Effects(01:20:47) Demutualization: Unlocking Hidden Value in Financial Infrastructure(01:26:07) Network Effects, Brand Identity, and the Global Shifts Reshaping Investments(01:37:33) Investing in Relationships: Timing, Goodwill, and Business Success

Tobias Carlisle, an Australian investor and founder of Acquirers Funds, LLC, also shares his personal journey—from his beginnings as a corporate advisory lawyer in Australia to his transition into investing inspired by Warren Buffett. His career spans roles as an activist hedge fund analyst and general counsel, leading up to his authorship of Deep Value, Quantitative Value, and Concentrated Investing. Full transcript available here: https://aqfd.docsend.com/view/ziv6die4mhrta2ud  Contents:(00:00:01) The Journey from Australia to the States (00:03:20) A Career Start in Law(00:07:01) The Transition to Investing(00:14:46) Exchange traded Funds vs. Mutual Funds(00:27:31) The Important of Risk of Ruin(00:31:12) On Tobias’s Books(00:36:33) The Disciple of Writing(00:45:26) Tobias on His Portfolio Construction(00:58:17) Historical Fictions

Jo Boaler is a British author and Professor of Mathematics Education at Stanford University. Jo is involved in promoting reform mathematics and equitable mathematics classrooms, and thereby fulfils a role of communicating to broader society outside of academics. Beside her new book Math-ish, she is also the author of the books Limitless Mind, The Elephant in the Classroom and other books on learning and education.  Jo talks to Guy about visual approaches to teaching maths, covering the role of a growth mindset in learning maths, which can be developed from early on. They also touch on the importance of talent and genes versus the mindset we approach things with and on some barriers in teaching. Full transcript available here: https://aqfd.docsend.com/view/g7uc3eypdnvhz7fr Contents: (00:00) Introduction of Jo Boaler (01:52) Teaching Mathematics: A Visual Approach (10:16) The Illusion of Knowledge (20:33) Developing a Growth Mindset (26:02) Lessons Outside of Mathematics (30:51) Genes vs. Mentality (38:40) Differences Between the UK and the US (43:45) Gender Barriers (48:10) Further Resources 

Morgan Housel is the New York Times Bestselling author of The Psychology of Money and Same as Ever and a popular finance blogger. His books have sold over 4.5 million copies and have been translated into more than 50 languages. He is also a partner at The Collaborative Fund and serves on the board of directors at Markel.  He talks to Guy Spier about the concept of writing for oneself, the slow way to approach reading and how to help the process of connecting ideas. Other topics discussed include skiing, beauties of the United States and the importance of sample size. Full transcript available here: https://aqfd.docsend.com/view/4u4kmcmsm3k8rccq Contents:(00:00:00) The Beauty and the Dangers of Skiing(00:04:58) Insights from Same as Ever(00:09:55) Selfish Writing(00:18:53) Ways to Approach the Writing Process(00:23:17) Inner Scorecard(00:30:45) Connecting Ideas(00:38:18) The Art of Reading Slowly(00:41:31) Fiction vs. Nonfiction(00:52:11) The Importance of Sample Size(00:54:19) Everyone is on their Own Path(00:59:43) Poetry(01:07:15) The United States and New York City

Luca Dellanna is a management advisor and an author from Turin, Italy. His books cover topics ranging across management, human behavior, and economics. He talks to Guy Spier about his early career, his research on ergodicity and some topics from his other books, including autism and the difference of decision making and action taking in our brains.Full transcript available here: https://aqfd.docsend.com/view/r5q6w9tq7e2b8aqb Contents:(00:00:00) Introduction (00:07:38) The Concept of Ergodicity (00:14:31) Extrapolation Over Time Horizons (00:21:22) Luck or Skill? (00:24:50) Maximizing the Worst Outcome (00:31:32) Uncertainty and Risk Management (00:39:09) Diversification as a Practical Tool (00:43:09) Personal Knowledge Management Tools (00:48:56) Decision Making vs. Action Taking (00:58:09) Autism and the Idea of the Magnifying Glass (01:02:54) Luca’s Professional Career (01:08:38) The History of Turin

Daniel Simons and Christopher Chabris are professors of psychology, both experts in the fields of cognitive science and experimental psychology. They are also known as the co-authors of the famous book The Invisible Gorilla, and the inventors of the homonymous psychological experiment. 12 years from the release of their first book they have partnered again, co-writing Nobody's Fool: Why We Get Taken In and What We Can Do about It. This book illustrates through a series of stories why we fall victim to deception and provides practical tools to help the reader know when to question their beliefs.In this conversation, Simons and Chabris give the listener a taste of their new book. They provide insights on how we can arm ourselves against stories that do not reflect reality and how to improve our ability to realize when we are in front of a critical decision. Topics discussed also include social pressure, manifesting, self-help books, and chess.  Full transcript available here: https://aqfd.docsend.com/view/58jfj8tt73uqqajy Contents:(00:00:01) From “The Invisible Gorilla” to “Nobody’s Fool”(00:04:30) When Should We Question Our Intuition?(00:20:29) The Power of a Good Partnership(00:23:54) The Time-Reversal Heuristic (00:31:48) When the Story is Nicer Than Reality (00:49:13) Social Pressure: A Potent Tool (00:55:57) Luxury Goods and the Concept of Familiarity (01:01:00) Manifesting: Is it Harmless? (01:06:53) How to Approach Self-Help Books (01:11:01) The Fields of Psychology (01:19:35) On Chess, Bridge, and Poker 

Ben Feder is an investor and games executive, currently managing partner at TIRTA Ventures. He is also the author of the book Take Off Your Shoes: One Man's Journey from the Boardroom to Bali and Back. Ben formerly served as the CEO of Take-Two Interactive and was President of International Partnerships for North America at Tencent Games.Ben talks to Guy about his early career in the media industry, the time he was part of the successful takeover of Take-Two Interactive, and his newly launched venture capital firm TIRTA. Some other topics include video games, artificial intelligence, and the world of streaming. Full transcript available here: https://aqfd.docsend.com/view/vst3ch75vk2n2sdv Contents:(00:00:00) Introduction (00:02:19) The Start of a Successful Career (00:08:13) Choosing Between Business School and a Ph.D. (00:11:36) How to Be a Good Leader (00:18:36) The Takeover of Take-Two Interactive (00:26:23) Streamers vs. Owners of Content (00:29:41) Should Authors Self-Publish? (00:38:00) The World of Video Games (00:47:13) Artificial Intelligence as a Productivity Tool (00:55:02) TIRTA’s Place in the Venture Capital Space (00:59:59) Some Thoughts on Psychotherapy (01:03:47) Jewish Identity and Interconnectedness 

Christina Patterson is a journalist, writer, broadcaster, and coach. A former columnist at The Independent, today Christina writes for the Daily Mail, Observer Magazine and The Telegraph, and reviews for The Sunday Times. She is also a regular guest on the Sky News press preview. Christina talks to Guy Spier about her books and the journey of her and her family’s life, which effectively inspired them. Other topics include psychotherapy, writing and poetry, as well as the importance of speaking our parents’ mother tongues. Full transcript available here: https://aqfd.docsend.com/view/2qfv9ccrixrjbb5wContents:(00:00:00) Two Books, One Courageous Author(00:07:12) The Life Behind the Memoir(00:13:23) Why Do We Long for Self-Help Books?(00:25:04) The Discovery of Swedish Roots(00:36:24) Commitment to Truthfulness(00:44:42) Conversation as a Healer(00:50:26) The Dark Side of the Church(00:58:52) Therapy and Alternative Medicine(01:10:01) How to Master Writing(01:20:51) Poetry: The Purest Form of Literary Art(01:23:53) Looking Towards the Future(01:29:30) On the Love for Italy

Lauren Templeton is the founder and CEO of Templeton & Phillips Capital Management. Investing runs in Lauren's blood, as she is the great niece of Sir John Templeton. She reflects on their work together, as well as on the impact of her father on Lauren's journey in investing. Lauren also gives some insight into the perks of working with her husband, Scott Phillips.Transcript available here: https://aqfd.docsend.com/view/z5j2t67cqmbnn7ba

This is a repost of episode RWH023 of The Investor’s Podcast Network. Please check out the original episode here:   https://youtu.be/G1yQcykKYJg If you’d like to hear more of William Green’s interviews on the “Richer, Wiser, Happier” podcast, then please check them out here:   https://www.theinvestorspodcast.com/richer-wiser-happier/ We discussed many things that are so relevant to today's environment including   - attending the Berkshire Hathaway meeting - the influence of Warren Buffett - stocks like Spotify, Roku, Twilio - investing in China  and so much more...

Jeff Henriksen is the co-founder and CEO of Thorpe Abbotts Capital, a value oriented hedge fund based in Charlottesville, Virginia. In this short interview, Jeff talks about his experience of attending the executive MBA programme in Oxford, leading to him staying to teach a valuation course to graduates. Other topics include gaining a behavioral edge in investing, and the advantages of a price to book strategy. Transcript is available here: https://aqfd.docsend.com/view/zts7etxhxifcwp86

Sachin Khajuria is an investor and the author of the book “Two and Twenty: How the Masters of Private Equity Always Win”. He holds two degrees in Economics from the University of Cambridge.Sachin talks to Guy Spier about his education, career, and the characteristics and future of the private equity world. He also touches on topics such as distressed investing, fee structures, and the importance of a multicultural background.Full transcript available here: https://aqfd.docsend.com/view/m7jv4zsqpfv47nue Contents:(00:00:00) A Career in Private Equity(00:08:11) Elite Education vs. Learning by Doing(00:15:40) How Can Low and High Fee Structures Coexist?(00:24:50) Winner Takes All Structures(00:32:20) On the Inside of the Deals(00:45:12) Distressed Investing: Both Sides of the Coin(00:58:16) Advantages of a Multicultural Identity

Michael McCloskey is the founder and president of GreensKeeper Asset Management. He is one of those rare-to-find people who has a flair for both numbers and writing. In fact, he has a BSc in mathematics, as well as both a JD and an MBA degree. Michael has worked as an investment banker and has a lot of experience in the securities industry. Today, he lives in Mississauga, Canada with his wife and two daughters.Michael McCloskey talks to Guy Spier about how he became a value investor and the principles he learned from Buffett and Munger along the way, such as sharing wisdom. He speaks fondly about family values and teaching, mentioning his alumni at GreensKeeper with particular joy. Michael then takes the listener through the research report on Visa he recently produced, while giving an insight into the whole credit cards and payment networks industry. Finally, he reflects upon his days of studying mathematics, as well as on the topic of writing books.Full transcript available here: https://aqfd.docsend.com/view/zbmpr7ckcys75i2k Contents:Who is Michael McCloskey? (00:00:00)The Connection to Berkshire Hathaway (00:05:29)Importance of Family (00:14:54)The GreensKeeper Alumni (00:24:49)A Research Report on Visa (00:30:52)Risks in the World of Payment Networks (00:45:18)Buy Now Pay Later Plans (01:08:55)A Detour About AmEx and Mastercard (01:22:38)What is Inspiring About Mathematics? (01:36:52)The Art of Writing Books (01:44:45)

Milo Jones is political scientist, a business school professor focusing on intelligence analysis and geopolitics, and has served as an officer in the US Marine Corps. He is currently based in Warsaw, Poland, but he spends plenty of time travelling around the world. Milo is also the author of the book Constructing Cassandra: Reframing Intelligence Failure at the CIA, 1947-2001. He talks to Guy Spier about the conclusions of his book, insights for investors from the intelligence community and the concept of OODA loops. Milo Jones also explains the idea of how “the digital retrieves the medieval” and discusses possible outcomes of the war in Ukraine.  Full transcript available here: https://aqfd.docsend.com/view/2ixfuarfgxp6z2y4 Contents:(00:00:00) From the Upper East Side to the US Marine Corps(00:07:44) The Reason Behind Intelligence Failures(00:16:59) Insights for Investors from the Intelligence Community(00:22:12) OODA Loops(00:32:29) Structured Analytic Techniques(00:48:44) When the Narrative Takes Over(00:56:34) “The Digital Retrieves the Medieval”(01:11:13) What Can the West Do About Russia?

John Zolidis is an equity analyst and a registered investment advisor, President, and Founder of Quo Vadis Capital Inc. He talks to Guy Spier about what made him found his own company, about the retail sector, and the battle between physical stores and Amazon. John also shares why he is fascinated with the Chinese market, as well as gives some insight into a company he has been following. Full transcript available here: https://aqfd.docsend.com/view/mx8ghkc4wihjuwu5 Contents:(00:00:00) Introduction (00:07:55) Life in Southampton, New York(00:11:22) The Flaws of Sell-Side Research(00:25:29) About the Retail Sector(00:30:17) Difficulties in Apparel Retail(00:47:21) Physical Stores vs. Amazon (00:58:54) The French Luxury Sector and Big Surface Stores (01:06:00) Investing in China: How to Minimize the Risks? (01:17:33) Transition Between Research and Investment Management

Guenther Dobrauz is a half-Swiss, half-Austrian lawyer, Leader of PwC Legal Switzerland, and a member of PwC’s Global Legal Leadership Team. In the past he has co-run one of the first Swiss venture funds. He is also the author of 10 books.He talks to Guy Spier about regulatory law in Switzerland, his work at PwC, and his Austrian origins. Blockchain technology and circular economy are two of the main topics, being the focus of Exelixis Capital, an investment entity co-founded by Guenther Dobrauz, Sebastian von Doering and Michael Dieckell.Full transcript available here: https://aqfd.docsend.com/view/t3awk5yugdv8i7hb Contents:(00:00) Thinking Outside of the Box (09:08) About PwC (13:30) The Austrian Origins of Guenther Dobrauz (18:19) Blockchain Technology and Cryptocurrencies (23:36) The Founding of Exelixis Capital (30:14) How to Choose the Right Opportunities? (35:34) Books, Vinyl Records and Custom Motorcycles (41:38) Lessons for Professional Success 

Francisco Negrin is a creative director working in opera, as well as shows and other events.He talks to Guy Spier about his early life, his career in opera and the meaning of his sets, as well as the business leadership that is part of his work behind the scenes.  Contents:(00:00:00) The Early Life of Francisco Negrin(00:16:06) Blending into Cultures(00:27:51) The Relevance of Opera(00:36:45) Tools to Convey the Message of a Piece(00:48:16) Is Opera a Popular Art Form?(00:59:03) Business Leadership Behind the Scenes(01:06:42) Personal Professional Mission(01:11:49) Important Pieces of Art

Mark Bitz is an entrepreneur, author and community leader. In his latest book, Winning Practices of a Free, Fit, and Prosperous People, and in his course, his aim is to make people aware of the essential practices that should flow through populations, be mastered and subsequently transmitted in order to evolve a superior set of software that enables them to really flourish in their environment.He talks to Guy Spier about the winning practices, his idea of a cultural council in the United States, international affairs and the importance of an honest rule of law. Full transcript available here: https://aqfd.docsend.com/view/pkiww39rnr4w2ryc Contents:The Influence of Various Cultural Packages (00:00)A Winning Practice: DNA Fidelity (00:12:33)International Affairs and Interference (00:24:016)The Importance of an Honest Rule of Law (00:30:46)Role of Religion in Transmitting Culture (00:37:34)The Idea of a Cultural Council (00:44:10)China from a Different Point of View (00:57:12)The United States’ Ability to Reboot (01:07:16)Calls to Action (01:17:44)

Ninad Shinde grew up in India, studied and worked in the United States, before moving to London, where he still lives and works as a consultant to private equity firms.He talks to Guy Spier about his education, his work on lab-on-a-chip devices, about the evolution of the private equity space and about one of his big interests, the cloud / software as a service business.  You can find the talk by Professor Carlotta Perez here: https://youtu.be/dhNd3tVR1hIAnd another good talk with Professor Carlotta Perez is here: https://youtu.be/TRUlHfPLnjEFull transcript available here: https://aqfd.docsend.com/view/z9gjdur3ukppeiay Contents:(00:00:00) Crossing Three Continents(00:06:42) Lab-On-A-Chip Devices(00:12:20) The Perks of Being an Indian(00:21:54) Shifting Towards the World of Finance(00:31:29) The Evolution of Private Equity Firms(00:44:57) The New Economy(01:01:17) Heuristics for Choosing the Right Businesses(01:14:25) How to Find the Future A-Team?(01:24:58) Charlie Munger and Cryptocurrencies(01:33:11) Other Resources and Contacts

Olaf Hein is the CEO of Elbstein AG, a publicly traded German holding company. He talks to Georgina Godwin about his early life and education and the evolution of his career in the financial industry. Mr. Hein also shares some advice based on his decades-long stock market experience.Here's an interview by Smart Investor who interviewed Olaf Hein about real estate shares and interesting niches within the real estate market:aqfd.docsend.com/view/3y9bb9hvnz9yck2dFull transcript available here: aqfd.docsend.com/view/ub7ptyhqcumqpv63Contents:Early Life and Education (00:00)The Years in America (04:33)From Rags to Riches (09:03)The Birth of Elbstein AG (16:24)The Essence of the Stock Market (19:59)A Reading List (23:58)Olaf Hein’s Guiding Principles in Business (28:09)

David Sumpter is a professor of applied mathematics at the University of Uppsala, in Sweden, and the author of a wonderful book called The 10 equations that Rule the World.He talks to Guy Spier about the various applications of mathematics in practical areas of our day-to-day life, such as social media algorithms, graph theory, Bayes’ theorem, and even vaccinations.   Full transcript available here: https://aqfd.docsend.com/view/8sw5qidsc44bzkr2 Contents: Pure Mathematics vs. Applied Mathematics (00:00)Graph Theory and its Applications (10:39)The Advertising Equation in Social Media (17:11)Taking Control of the Algorithms that Control Us (20:11)“Fluffy Science” vs. Empirical Studies (25:02)From the Kelly Criterion to Bayes’ Theorem (32:22)Mathematics Behind Vaccination Hesitancy (41:55)

Ricardo Fernandez is the Founder and Managing Partner of Signal Capital, an alternative asset management company. He grew up in Brazil, studied in Spain and in the United States, and holds an MBA from IESE and an AMP from Harvard Business School. Mr. Fernandez talks to Guy Spier about his education, career, and gives an inside look at the opportunities and life in Brazil.Full transcript available here: https://aqfd.docsend.com/view/jdercs4hnems94m4 Contents:The Influence of Family (00:00:00)Comparing Different Parts of Brazil (00:11:11)Starting in the Alternatives Investing Space (00:16:08)The Partnership with Hamilton Lane (00:25:53)Macroeconomics in Brazil (00:39:44)Opportunities Behind Secondary Investments (00:57:10)Balancing Independence and a Relationship with the Institutional World (01:05:44)

Arthur Fine is a lawyer and one of the directors of Aloha Medical Mission (“AMM”), a non-profit volunteer organization based in Honolulu, Hawaii, which provides free health care to underserved people in the Pacific, Asia and Hawaii and does surgical missions in the developing world (alohamedicalmission.org). His wife, Marjorie Fine, is a general surgeon and a volunteer at AMM.Mr. Fine talks to Georgina Godwin about his and Marjorie’s early life, their careers and their work at Aloha Medical Missions. Full transcript available here: https://aqfd.docsend.com/view/vju2ccuhsy7ztf9w Contents:Balancing Family and Career (00:00)Marjorie Fine, a Brilliant Mind (04:43)Aloha Medical Mission (09:25)About the Missions (16:57)The Incredible Power of Volunteers (25:09)How Can AMM Adapt to Covid-19? (33:02)

A few months ago, Lory Spier was invited to give the prize-giving-day speech to graduating students at the Dragon School in Oxford. In this interview, she talks to Georgina Godwin about growing up in Mexico, her working experiences and life in her twenties, as well as meeting Guy and eventually settling down in New York. At the end of the episode, Lory reads out the speech that she gave at the Dragon School, which allows the listeners to truly get a sense of what Lory’s core values are, and what she and Guy try to pass onto their children. Full transcript available here: https://aqfd.docsend.com/view/ir5vd3z47zzbbwxz Contents:Growing Up in Mexico (00:00)From Architecture to Radio and Television (07:24)The Love Story of Lory and Guy (11:11)Teachers’ and Schools’ Impact on Children (17:58)What is Special About the Dragon School (22:53)Lory’s Prize-Giving-Day Speech (27:45)

Gautam Baid, CFA, is the author of the international best-seller The Joys of Compounding. He is also the Founding Creator at Chapter, a revolutionary learning platform. Previously, Gautam served as a portfolio manager at an SEC-registered investment advisor based in Salt Lake City, Utah.Mr. Baid talks to me about growing up in India, moving to the United States, changing careers, and how he found his calling in life. He also shares his future projects and important lessons on compounding.Full transcript available here: https://aqfd.docsend.com/view/jc6uj72qud3gkiypContents: Growing Up in India (00:00:00)A New Beginning: From Investment Banking to the Graveyard Shift (00:06:47)The Power of Passion (00:10:49)Becoming a Portfolio Manager (00:17:15)The Capture Habit (00:21:17)The Birth of The Joys of Compounding (00:25:15)The Next Chapter (00:35:13)How to Walk the Talk (00:45:27)China vs. India from an Investment Perspective (00:57:54)

Manos Papatheofanous was born and raised in Greece, before moving to London to study computer science 31 years ago. Throughout his career he has worked various jobs in banks and proprietary trading desks, in asset management firms and in hedge funds, and has also completed a degree from London Business School of Master’s in Finance. Two years ago, Mr. Papatheofanous joined CPP Investments, the investment arm of the Canadian Pension Plan, which manages about 500 billion dollars for approximately 20 million Canadian pensioners.Full transcript available here: https://aqfd.docsend.com/view/93wembq2jwh6pxb8 Contents:Working at the Canadian Pension Plan (00:00:00)The CPP’s Investment Strategy (00:09:21)The Challenges and Advantages of Being Big (00:16:54)Connections Between the Labour Market, Inflation and Globalization (00:28:00)The Federal Reserve’s Influence on Inflation (00:41:46)The Goal of Negative Interest Rates (00:50:53)Cryptocurrencies or Crypto Assets? (00:56:13)Book Recommendations and Getting in Touch (01:06:55) 

Margaret Van was born in a Shanghainese family in Hong Kong. From early on, she has had a deep interest in other cultures, which has also led her to learn various languages with the main goal of being able to communicate with people from all over the world. Since 2005, Ms. Van has embarked on a new chapter as she discovered the practice of mindfulness. She is now a certified teacher and continues her journey of evolving every day.Full transcript available here: https://aqfd.docsend.com/view/qbgj5u3aps5pc7hhContents:Introduction (00:00)The Birth of a Multi-Cultural Identity (06:44)Nepal: A Life-Changing Trip (15:55)From Canada to Hong Kong Through Singapore (21:23)Discovering the World of Mindfulness (24:44)

Vanessa Stelling is the author of the book Julian and I: A Mother’s Journey Through Regressive Autism, a deeply personal narration of the fears, the struggles and the evolution that she went through by raising her autistic son. She talks to Georgina Godwin about the book, about her journey with Julian and about where they are in their lives today. Full transcript available here: https://aqfd.docsend.com/view/shb62r2mt3m5yfmnContents:A Pregnancy in the Aftermath of 9/11 (00:00)From New York to Switzerland: A Journey in Search of Answers (08:21)Day-To-Day Challenges of Autism (11:58)Seeing Life Through Julian’s Eyes (14:47)The Art of Communicating Without Language (20:32)Embracing Diversity (27:08)

In this episode, Guy Spier talks to William Oliver and William Barnes, the founders of In Practise, a research network with a slightly different business model compared to other companies in the primary research business. They give valuable insights on the primary research industry and on topics such as how to conduct high-quality conversations and what part of management to interview when researching a company. Full transcript available here: https://aqfd.docsend.com/view/tw73wc9ef3gp3t4a Contents:Introducing William Oliver and William Barnes (00:00:00)The Primary Research Industry (00:05:54)The Beauty of Learning in Public (00:14:30)Why Aren’t Investor Relations Enough? (00:24:34)What is High-Quality Conversation? (00:34:47)Top Management vs. Mid-Level Management (00:46:47)The Pitfalls of Conducting Primary Research (00:54:36)Who Should Be a Part of the In Practise Community? (01:06:15)

Jackie Shoback is a Harvard graduate who has spent the last 25 years of her career as general manager and C-suite executive, with a lot of experience in launching, scaling and growing businesses from startup up through multiple billion dollars. She talks to Guy Spier about co-founding her new venture firm, balancing family and a professional career and the future of digital identity.Full transcript available here: https://aqfd.docsend.com/view/cpvr23pqya95q9mz Contents:Staples: A Journey of Incredible Growth (00:00:00)The Changes in Financial Services (00:18:42)Boston: A Magnet for Talent and Financial Expertise (00:32:44)Integrating Work and Family (00:51:43)Timing is Everything (01:01:22)The Future of Digital Identity (01:09:46)The Power of Personal Connections (01:26:41)

Adam Mead is a practicing capital allocator, the CEO and Chief Investment Officer of Mead Capital Management, an investment management business he founded in 2014. He recently published a book, The Complete Financial History of Berkshire Hathaway: A Chronological Analysis of Warren Buffett and Charlie Munger's Conglomerate Masterpiece, which provides a comprehensive and detailed history of Berkshire Hathaway to date. Mr. Mead talks to Guy Spier about the extensive research for his book and shares some valuable lessons that he learned through the process. Full transcript available here: https://aqfd.docsend.com/view/n7zmwj8y4aj3ea3u Contents:Introduction (00:00)What Has Not Been Written About Berkshire Hathaway (03:41)Behind the Scenes of the Research Process (15:35)Insightful Lessons About Businesses (32:36)Cryptocurrencies: With Them or Against Them? (43:44)A Future in the Community of Learning and Teaching (51:38)

Brian Murray is a partner in Glancy Prongay & Murray, a class action litigation firm with offices in New York and Los Angeles. He talks to me about contingency lawyers, Robinhood and the history and importance of arbitration clauses. Full transcript available here: https://aqfd.docsend.com/view/erfj4tazu4zf7qpz Contents: The Benefits of Working with Contingency Lawyers (00:00)Class Actions and Mass Actions: How Do They Differ? (11:54)Process of Review of a Legal Case (21:53)GameStop and Robinhood: The Obstacles to a Class Action (26:47)Is There a Future Without Arbitration Clauses? (39:39)The Law is Not Flawless (46:17)An Introduction to Litigation Funding (50:29)The Newest Addition to the Supreme Court (54:03)

Yishai Kiczales is an Israeli film critic, songwriter and lecturer, who currently lives in Zurich with his family. He writes for the daily newspaper Israel Hayom, and his third solo album, "Inside Yishai Kiczales", will be released on May 22. He talks to me about classic books and movies, about the recent changes in the world of cinema, and highlights some things the streaming services are missing.  Full transcript available here: https://aqfd.docsend.com/view/jmvgmsxhb8vupfze Contents: Ulysses by James Joyce: A Rock in a Mountain of Classics (00:01:45)Should One Read the Classics? (00:10:20)Christopher Nolan’s Best Movies (00:13:32)The Movie Classics and Their Origin (00:21:21)How to Escape the Algorithm? (00:27:49)Past and Future Changes in the Movie World (00:37:44)Building Bridges Through Cinema (00:52:31)The Struggle of Creating Art (00:58:47)

William Green talks to Guy Spier about his new book, Richer, Wiser, Happier. He shares the long journey he has been on, before finally reaching the confidence and courage to publish his own book, which is full of insights from extraordinary people on how to think better, invest better and live more wisely. Mr. Green believes in compounding goodwill and does not hold back from sharing with the listeners' wonderful ways to become a mensch and live a much happier life.Full transcript available here: https://aqfd.docsend.com/view/9zh4znveqda63arq Contents:Introduction (00:00:00)The Journey to Becoming a Writer (00:03:42)How to Be Helpful Through Writing? (00:08:42)Replacing Fear Through a Sense of Service (00:14:50)The Birth of Richer, Wiser, Happier (00:22:03)The Art of Distilling the Essence (00:30:30)Concealed Truths: How to Aspire to a Better Life? (00:44:03)The Rewards of Being a Mensch (00:59:02)William Green’s Journey of Transformation (01:13:44)A Final Thought: Tasting the Benefit of Simple Ideas (01:22:46) The book is available to buy here:www.amazon.com/Richer-Wiser-Happ…1618847240&sr=8-2

Georgina Godwin interviews Philippe Taieb, an accomplished and respected consultant and coach with a unique experience of working both in the corporate world as a consultant at Braxton Associates, a strategy consulting firm, and in the social impact sector, for The Nature Conservancy, the world’s largest environmental non profit, a role he was recruited for from Harvard Business School. Philippe discusses his upbringing in France, as the son of Tunisian immigrants and the origin of his Arabic name, Taieb. Armed with a very common Christian first name, he believes that as an immigrant family his parents wanted him to have a good start in life but also blend in and integrate in Paris, a very diverse city, with people from all backgrounds and origins. History then repeated itself, when Philippe himself became an immigrant when he moved to America 23 years ago to grab the opportunities that America offered. Philippe is a very passionate individual and his passions originate from his background and his keen awareness from his youth about equality and social justice. This ingrained ethos and the skills Philippe’s business education has given him, means he can apply that to the social impact sector to help organisations maximise their social impact instead of maximising just their profits. When he made the transition from the corporate world of the Harvard Business School to the social impact arena of The Nature Conservancy, he was in a unique position to start mentoring.  Philippe’s business expertise led him into the coaching work he does with leadership and career development, making people realise their potential, working with them to try to understand where they want to go and how to help them get there.                                                            Philippe’s passions away from the workplace are art and dance, which he believes should be a component of the fabric of any society. From gazing at Rosko’s at the National Gallery, going to the Opera in Paris or watching dance groups in Boston, he has immersed himself in the arts wherever he has lived in the world.              Finally, Philippe addresses the question about being interviewed rather than being the interviewer. He reflects on the positives of self reflection and that as long as you keep your integrity, work hard, continue to keep your goals in mind and be very aware of what’s going on around you, you will be fine. Full Transcript available here: https://aqfd.docsend.com/view/mj5gye4qgui5cu58 ContentsAbout Philippe Taieb (00:00)Philippe’s Identity and Roots (01:26)Life in America as an Immigrant (06:56)Philippe’s Passions and Career (10:00)The Non Profit Economy (12:52)Thoughts on Another Passion - Dance and the Arts (21:06)Harvard Business School Students – have they become less arrogant? (27:12)The Future of Politics in France (31:04)

In this episode, Guy Spier and Jeremy Deal speak about Hamilton Helmer’s Seven Powers and how Deal uses the framework in his own investment research as well as some of the major takeaways from this research. Finally, they discuss LinkedIn usage, informational podcasts and CEOs they both admire.Full transcript available here: https://aqfd.docsend.com/view/agr4ggjf2rsuijbuContents:Transitioning to Europe (00:01:29)Accessing Investment Research (00:06:12)Major Takeaways (00:16:30)Hamilton Helmer’s Seven Powers (00:24:29)The Past is Not Representative of the Future (00:32:11)Ad-Tech (00:47:19)Admirable CEOs (00:54:15)

Georgina Godwin interviews Jehangir Appoo, an incredibly accomplished cardiothoracic surgeon. Among his accolades, are two fellowships, the first from the Royal Brompton Hospital, Imperial College, London and the second from the University of Pennsylvania. He has also held the position of Clinical Associate Professor of Cardiac Surgery at the University of Calgary, helping establish an artificial heart programme and performing Alberta’s first artificial heart device implant.   Jehangir discusses his fascinating journey, which began as a well-travelled youngster living in at least 7 countries before the age of 18, finally settling in Canada. Medicine was an unusual choice of career for a young man who hated the sight of blood. After a chance encounter with the Dean of his Medical School, near the Taj Mahal, he offered Jehangir some wise words, ‘once you see the light don’t turn your back upon it’. As his plane took off to return home, the decision was made that his future lay in cardiac surgery. Sadly, after a long and illustrious career at the frontline of cardiac surgery, issues with Jehangir’s neck, forced him to stop operating. He was determined that his new career would need to have an on-going impact in health care and what followed was two completely different worlds colliding, digital technology and medicine. Jehangir heads up a capital fund called AOIT Health. His aim is to be part of the evolution of how AI is used for medical diagnosis using machine learning technologies. Using his experiences at the front line of health care, his aim is to develop machine learning in an environment that can make a significant change; to the way medicine is practiced. Jehangir is also involved in a non-profit organisation called Creative Destruction Lab, a partnership with scientists coming out of Universities, business schools, venture capital and entrepreneurs with the goal of building businesses. The idea being to take a project from the lab and build it into a big business, which is the whole basis of innovation and venture capitalism. Finally, Jehangir addresses the positive impact that the pandemic has brought by integrating digital technology into health care. Virtual care had never been done before but now it has been accepted as a legitimate form of medical care, the whole space has opened up to remote patient monitoring, COVID has brought 2030 a decade early, accelerating digital technology investment in health care and rethinking how healthcare can work in the future.Full transcript available here:  https://aqfd.docsend.com/view/7wfqnk9sauntku4y Contents:About Jehangir Appoo (00:00)Journey to Cardiothoracic Surgery (03:08)Thoughts on Healthcare Around the World (08:32)Professional Accomplishments (10:58)Career Change – Healthcare Meets Technology (13:26)COVID and Digital Technology (20:07)Jeffersonian Meals (24:33)Thoughts on Exciting Developments in Healthcare (28:24)

In this conversation Grant Schreiber talks to Georgina Godwin about growing up in South Africa, his books, Real Leaders magazine and his future plans.Full transcript available here: https://aqfd.docsend.com/view/7xek49puhrabuxsqContents:Early Life and Education under Apartheid (01:51)Business Regulations in South Africa (06:51)The Books: Healing Through Humour (09:03)Becoming Global Citizens (11:02)Real Leaders: What Makes Them Stand Out? (14:29)Sustainability Under the Loop (19:54)Future Plans (23:45)The Power of Networking and Personal Connections (25:27)

In this conversation, Joe Chapman talks to me about his squash career, Chapman Property Group and master-planned communities. University of Rochesterwww.rochester.edu/ Michael Rizzo http://www.sas.rochester.edu/eco/people/faculty/rizzo_michael/index.html Journal Monetary Economicswww.journals.elsevier.com/journal-of-monetary-economics Wikipedia Pagehttps://en.wikipedia.org/wiki/Joe_Chapman BVI Olympic Committeehttp://bviolympics.org/joe-chapman/ Full transcript available here: https://aqfd.docsend.com/view/2fvsz6stqz4gfimhContents:From the British Virgin Islands to the University of Rochester (00:43)A Career in Squash (02:49)Hurricane Irma: What is There to Be Learned? (06:48)Chapman Property Group: Structure and Future Ideas (09:18)Successful Models of Urban Environment (15:18)Master-Planned Communities (21:17)

In this call Georgina Godwin and Amanda Pullinger discuss the advantages of having a diverse workplace, and the opportunities presented by having more women take leading roles in finance. Amanda Pullinger, CEO of 100 Women in Finance, uses her experience to predict what proportion women will make up the finance sector by 2030.Full transcript available here: https://aqfd.docsend.com/view/cjy2hevj6jpyu9zmContents:About Amanda Pullinger (00:00)Pursuing a Career After University (07:51)Women Underrepresented in Finance (11:41)Lack of Diversity in the Workplace (15:01)100 Women in Finance (18:43)Openness to Political Debate (30:12)How Will a Biden Administration Affect the World of Finance? (33:02)Thoughts on Brexit (37:06)

Introducing Georgina Godwin - who will be doing some of the interviews and hosting.  In this episode Guy Spier interviews Georgina Godwin, who will conduct some of the interviews going forward. She discusses her start as a radio host, working at Monocle, and the importance of asking about interviewees early influences.More about Georgina Godwin here:HTTP://www.twitter.com/georginagodwinOr find her on Monocle RadioHTTP://www.monocle.com/radio/Full transcript available here: https://aqfd.docsend.com/view/xjmvtyqynv4rjr58Contents:Meeting Georgina Godwin (01:33)Ending Up in Radio (04:14)Feeling Antipathy Towards Women Who Choose Not to Work (07:41)Monocle Organization (09:48)Events Pivoting to More of a Digital Presence (13:36)Importance of Early Influences (17:01)

Listen (or watch) on youtube here on.aqu.am/3fzgKKU You can read the email here: on.aqu.am/37cyvMa sign up to be on the email list here: bit.ly/2NX8XdQ Email Update: Knowledge Management in a New Era by Guy Spier is licensed under a Creative Commons License.

In this conversation Kevin Schawinski talks to me about galaxies’ transition process, quantum mechanics and machine learning. He also goes into detail about his Galaxy Zoo citizen science project and about Modulos.Other relevant links here:  https://twitter.com/kevinschawinski  ch.linkedin.com/in/kevin-schawinski-517b2a74  de.wikipedia.org/wiki/Kevin_Schawinski  https://skyandtelescope.org/sky-and-telescope-magazine/galaxy-zoo-a-citizen-science-project/ Full transcript available here: https://aqfd.docsend.com/view/a8j8qtx74gky7vhjContents:From Cornell University to Balliol College, Oxford (01:54)The Mechanisms Behind Galaxies’ Transition Process (06:26)Quantum Mechanics: The Many-Worlds Interpretation (19:23)The Limits of the Laws of Nature (33:53)Galaxy Zoo: A Citizen Science Project (44:11)The Difficulties Of Machine Learning Technology (54:01)Modulos: Building a Universal Tool (1:03:25)Powerful Algorithms Behind Social Media (1:15:40)What Can Switzerland and the UK Learn From Each Other? (1:29:56)

In this conversation Aaron Edelheit and I talk about modern approaches to value investing, Twitter, his book and American home.  Full transcript available here: https://aqfd.docsend.com/view/gu8jh94rj4cemuu5Contents:Modern Approaches To Value Investing (00:41)Twitter as a Curation Tool (03:15)Twitter: The Teenage Years (16:47)Expanding the Twitter Ecosystem (19:43)Jack-of-All-Trades Investors (33:29)The Birth of a Value Investor (37:45)Business vs. Investing (39:25)Every Day and Twice on Sunday (41:51)Delayed Shareholder Gratification (48:43)

Eitan Chitayat leads Natie, a creative branding agency based in Tel Aviv.  I originally met Eitan at the founding of the Entrepreneurs Organization chapter in Tel Aviv. When it comes to branding, he's a creative genius. He's also the author of the extraordinary "I'm that Jew" viral youtube video that got more than 10 million hits on various social channelsI'm that JewEitan on twitterNatieBlog PostEpisode TranscriptKey momentsLeveraging technology to connect with clients (8:25)About that friend in Paris…during those three days of terror (10:25)Behind the scenes of the video production (12:53)Releasing the awe-inspiring video (16:33)Jewish advocacy (21:24)Eitan’s brand strategy (24:53)Articulating the story everyone wants to hear (31:42)Why is there so much noise in the world? (42:37)How the Golden Rule can motivate people to act like a human being (46:33)Benefits of avoiding negativity on social media (51:41)Teaching the children well (52:52)Eitan’s heroes: Tanenbaum and Collins (56:26)Spotlighting individuals who he admires (58:47)The impact Dana Satterwhite had on Eitan (1:02:32)The marvelus sound of silence (1:04:14)The magic touch of a sister (1:05:29)Keats and Tolkien as great writers (1:09)

I got together with my friend Dante Albertini of Omaha Capital and a group of Peruvian investors to discuss our impressions of the 2020 Berkshire Hathaway Annual General Meeting. We also discussed the world economy, the state of the markets, and coronavirus.More about Dante Albertini here: https://www.linkedin.com/in/dante-albertini-8387491/?originalSubdomain=peFull transcript available here: https://aqfd.docsend.com/view/h6m5vjp4dewnp9b7 Contents:Covid’s Impact on the Economy (00:01:15)Long-Term Holding Expectations (00:08:00)Lessons from Bad Investing Experiences (00:16:33)Warren Buffet Lunch Photographs (00:23:04)Quantitative Easing (00:29:16)Impact of Trump & Adjusting to Covid (00:36:16)China vs US (00:45:09)Making Investment Decisions (00:50:34)Managing Information Overload (00:58:06)Going from Success to Significance (01:07:28)